Financials Altria Group, Inc.

Equities

MO

US02209S1033

Tobacco

Real-time Estimate Cboe BZX 03:30:22 2024-05-02 pm EDT 5-day change 1st Jan Change
44.08 USD +0.58% Intraday chart for Altria Group, Inc. +1.39% +9.43%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 93,238 76,195 87,055 81,920 71,347 75,266 - -
Enterprise Value (EV) 1 119,163 100,721 110,555 104,570 93,894 98,354 98,045 97,870
P/E ratio -71.3 x 17.1 x 35.4 x 14.3 x 8.83 x 8.57 x 8.31 x 7.94 x
Yield 6.57% 8.29% 7.43% 8.05% 9.52% 9.22% 9.47% 9.86%
Capitalization / Revenue 4.71 x 3.66 x 4.12 x 3.96 x 3.48 x 3.63 x 3.58 x 3.52 x
EV / Revenue 6.02 x 4.83 x 5.24 x 5.05 x 4.58 x 4.74 x 4.66 x 4.58 x
EV / EBITDA 10.9 x 8.11 x 9.18 x 8.55 x 7.45 x 7.94 x 7.69 x 7.55 x
EV / FCF 15.7 x 12.4 x 13.4 x 13 x 10.3 x 10.4 x 12 x 12.4 x
FCF Yield 6.37% 8.1% 7.45% 7.7% 9.68% 9.62% 8.35% 8.09%
Price to Book 14.9 x 26.8 x -53.8 x -20.5 x -20.2 x -15 x -22.5 x -25 x
Nbr of stocks (in thousands) 1,868,127 1,858,419 1,836,989 1,792,173 1,768,647 1,717,626 - -
Reference price 2 49.91 41.00 47.39 45.71 40.34 43.82 43.82 43.82
Announcement Date 1/30/20 1/28/21 1/27/22 2/1/23 2/1/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 19,796 20,841 21,111 20,688 20,502 20,750 21,031 21,359
EBITDA 1 10,960 12,412 12,044 12,237 12,602 12,394 12,753 12,969
EBIT 1 10,734 12,155 11,800 12,011 12,330 12,255 12,553 12,732
Operating Margin 54.22% 58.32% 55.9% 58.06% 60.14% 59.06% 59.69% 59.61%
Earnings before Tax (EBT) 1 766 6,890 3,824 7,389 10,928 11,706 11,785 12,023
Net income 1 -1,293 4,467 2,475 5,764 8,130 8,819 8,861 9,094
Net margin -6.53% 21.43% 11.72% 27.86% 39.65% 42.5% 42.13% 42.57%
EPS 2 -0.7000 2.400 1.340 3.190 4.570 5.111 5.270 5.519
Free Cash Flow 1 7,591 8,154 8,236 8,051 9,091 9,461 8,190 7,916
FCF margin 38.35% 39.12% 39.01% 38.92% 44.34% 45.6% 38.94% 37.06%
FCF Conversion (EBITDA) 69.26% 65.69% 68.38% 65.79% 72.14% 76.34% 64.22% 61.04%
FCF Conversion (Net income) - 182.54% 332.77% 139.68% 111.82% 107.28% 92.42% 87.06%
Dividend per Share 2 3.280 3.400 3.520 3.680 3.840 4.038 4.152 4.319
Announcement Date 1/30/20 1/28/21 1/27/22 2/1/23 2/1/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 5,086 4,819 5,374 5,412 5,083 4,763 5,438 5,277 5,024 4,717 5,467 5,440 5,151 4,753 5,459
EBITDA 1 2,855 2,895 3,210 3,210 2,930 3,154 3,276 3,272 2,900 2,688 3,314 3,257 3,055 2,875 3,288
EBIT 1 2,801 2,843 3,153 3,156 2,867 3,102 3,214 3,192 2,822 2,623 3,296 3,321 3,062 2,807 3,217
Operating Margin 55.07% 59% 58.67% 58.31% 56.4% 65.13% 59.1% 60.49% 56.17% 55.61% 60.29% 61.05% 59.44% 59.06% 58.93%
Earnings before Tax (EBT) 1 2,280 2,673 1,605 407 2,704 2,479 2,806 2,908 2,735 2,739 3,084 2,978 2,864 - -
Net income 1 1,624 1,959 891 224 2,690 1,787 2,117 2,166 2,060 2,129 2,294 2,262 2,120 2,024 2,399
Net margin 31.93% 40.65% 16.58% 4.14% 52.92% 37.52% 38.93% 41.05% 41% 45.13% 41.96% 41.58% 41.16% 42.59% 43.95%
EPS 2 0.8800 1.080 0.4900 0.1200 1.500 1.000 1.190 1.220 1.160 1.210 1.332 1.324 1.248 1.220 -
Dividend per Share 2 0.9000 0.9000 0.9000 0.9400 0.9400 0.9400 0.9400 0.9800 0.9800 - 0.9875 1.030 1.014 1.002 1.030
Announcement Date 1/27/22 4/28/22 7/28/22 10/27/22 2/1/23 4/27/23 8/1/23 10/26/23 2/1/24 4/25/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 25,925 24,526 23,500 22,650 22,547 23,088 22,779 22,604
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.365 x 1.976 x 1.951 x 1.851 x 1.789 x 1.863 x 1.786 x 1.743 x
Free Cash Flow 1 7,591 8,154 8,236 8,051 9,091 9,461 8,190 7,917
ROE (net income / shareholders' equity) 74.8% 176% 375% - - - - -
ROA (Net income/ Total Assets) 15.1% 16.8% 5.69% 15.1% 21.5% 26.5% 25.4% 25%
Assets 1 -8,576 26,604 43,467 38,239 37,762 33,264 34,880 36,415
Book Value Per Share 2 3.350 1.530 -0.8800 -2.230 -1.990 -2.920 -1.950 -1.760
Cash Flow per Share 2 4.190 4.510 4.560 4.580 5.230 5.290 5.230 5.520
Capex 1 246 231 169 205 196 205 223 227
Capex / Sales 1.24% 1.11% 0.8% 0.99% 0.96% 0.99% 1.06% 1.06%
Announcement Date 1/30/20 1/28/21 1/27/22 2/1/23 2/1/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
43.82 USD
Average target price
46.71 USD
Spread / Average Target
+6.60%
Consensus
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