PM Philip Morris International
too hard · 91
Owner-earnings value$158.04
Price$199.90
Margin of safety
-20.9%
Quality gate · 91/100
⚠ negative book equity
Median ROIC30.6%
Gross margin67.5%
Net debt / EBITDA2.4x
FCF conversion111%
Share count / yr+0.1%
Profitable years4/4
Moat & management
Owner-earnings inputs
| Owner earnings (TTM) | 11.38B |
| Owner-earnings yield | 3.7% |
| Free-cash-flow yield | 4.1% |
| Growth used (normalized) | 8.6% |
| Market-implied growth (reverse DCF) | 14.4% |
| Terminal growth | 3.0% |
| Discount rate (hurdle) | 9.0% |
Projected owner earnings
| Yr | Owner earnings | Growth | PV |
|---|---|---|---|
| 1 | 12.36B | 8.6% | 11.34B |
| 2 | 13.34B | 8.0% | 11.23B |
| 3 | 14.32B | 7.3% | 11.06B |
| 4 | 15.28B | 6.7% | 10.82B |
| 5 | 16.21B | 6.1% | 10.53B |
| 6 | 17.10B | 5.5% | 10.19B |
| 7 | 17.93B | 4.9% | 9.81B |
| 8 | 18.69B | 4.2% | 9.38B |
| 9 | 19.36B | 3.6% | 8.92B |
| 10 | 19.94B | 3.0% | 8.42B |
⚠ maintenance capex ≈ min(capex, D&A), capped at FCF · Price pays for ~14%/yr owner-earnings growth over 10y (reverse DCF); model credits 9%.