Altria Group, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $23.28B | $24.02B | $24.48B | $25.10B | $26.01B | $26.15B | $25.11B | $25.36B |
| Smokeable Products | $20.49B | $21.20B | $21.76B | $22.48B | $22.87B | $23.09B | $22.00B | $22.30B |
| Oral Tobacco Products | $2.80B | $2.78B | $2.67B | $2.58B | $2.61B | $2.53B | $2.37B | $2.26B |
| Wine | $0 | $0 | $0 | $0 | $494.0M | $614.0M | $689.0M | $691.0M |
| E-Vapor | $-13.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| All Other | $5.0M | $38.0M | $60.0M | $40.0M | $45.0M | $-83.0M | $58.0M | $114.0M |
| Cost of Revenue | $5.60B | $6.08B | $6.22B | $6.44B | $7.12B | $7.82B | $7.09B | $7.37B |
| Gross Profit | $14.54B | $14.37B | $14.28B | $14.25B | $13.99B | $13.02B | $12.71B | $12.25B |
| Gross Margin | 62.5% | 59.8% | 58.3% | 56.8% | 53.8% | 49.8% | 50.6% | 48.3% |
| Operating Expenses | ||||||||
| Research & Development | $195.0M | $208.0M | $220.0M | $162.0M | $145.0M | $131.0M | $168.0M | $252.0M |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $9.90B | $11.24B | $11.55B | $11.92B | $11.56B | $10.87B | $10.33B | $9.12B |
| Operating Margin | 42.5% | 46.8% | 47.2% | 47.5% | 44.4% | 41.6% | 41.1% | 35.9% |
| Interest Expense | — | — | $1.15B | $1.13B | $1.19B | $1.22B | $1.32B | $697.0M |
| Pretax Income | $9.39B | $13.66B | $10.93B | $7.39B | $3.82B | $6.89B | $766.0M | $9.34B |
| Income Tax Expense | $2.44B | $2.39B | $2.80B | $1.63B | $1.35B | $2.44B | $2.06B | $2.37B |
| Net Income | $6.95B | $11.26B | $8.13B | $5.76B | $2.48B | $4.47B | $-1.29B | $6.96B |
| Net Margin | 29.8% | 46.9% | 33.2% | 23.0% | 9.5% | 17.1% | -5.1% | 27.5% |
| EPS (Basic) | $4.12 | $6.54 | $4.57 | $3.19 | $1.34 | $2.40 | $-0.70 | $3.69 |
| EPS (Diluted) | $4.12 | $6.54 | $4.57 | $3.19 | $1.34 | $2.40 | $-0.70 | $3.68 |
| Shares Outstanding (Basic) | 1.68B | 1.72B | 1.78B | 1.80B | 1.85B | 1.86B | 1.87B | 1.89B |
| Shares Outstanding (Diluted) | 1.68B | 1.72B | 1.78B | 1.80B | 1.85B | 1.86B | 1.87B | 1.89B |
| Dividends Per Share | $4.16 | $4.00 | $3.84 | $3.68 | $3.52 | $3.40 | $3.28 | $3.00 |