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MO

Altria Group

US$66.93-0.62% (-US$0.42)
Day's range
US$66.43 – US$67.50
Day's volume
US$176.6m
52-week range
US$52.19 – US$73.74

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MO in numbers

Market cap
US$111.7bn
P/E
14.02
P/B
-41.88
Dividend yield (12m)
6.41%
Net debt/EBITDA
1.98

The 12-month dividend yield of MO is 6.41%, below its 5-year average of 7.89%.

MO price history

01/10/202501/10/2026
Compare with

MO risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+26.61%+107.88%+122.57%
Volatility (annualised)19.39%19.71%22.05%
Largest drawdown-5.59%-14.76%-24.26%
Positive months7/1222/3636/60

How much did investing in MO return?

US$1,000.00 invested on 01/10/2021 would be worth US$2,227.83 today.

Value today in MO
US$2,227.83
Return over the period
+122.78%
Return per year
+17.38%
In the S&P 500
US$1,666.52

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

MO fundamentals

Valuation

  • P/E
    14.02
  • P/B
    -41.88
  • EV/EBITDA
    11.94
  • EV/EBIT
    12.20
  • EV/Revenue
    5.71
  • P/EBIT
    10.18
  • P/S
    4.76
  • P/OCF
    11.87
  • P/FCF
    12.25
  • Earnings yield
    8.20%
  • PEG ratio
    —
  • Earnings per share
    US$4.77
  • Book value per share
    -US$1.60

Debt

  • Net debt
    US$22.2bn
  • Net debt/EBITDA
    1.98
  • Net debt/Equity
    -8.32
  • Debt/Equity
    -9.21
  • Current ratio
    0.52
  • Quick ratio
    0.38
  • Cash ratio
    0.30

Efficiency

  • Gross margin
    62.96%
  • EBITDA margin
    47.79%
  • Operating margin
    46.78%
  • Net margin
    33.99%
  • Asset turnover
    0.70

Profitability

  • ROE
    -298.84%
  • ROA
    23.89%
  • ROIC
    43.15%
  • Payout
    89.84%

Growth

  • Revenue CAGR (5 years)
    -2.34%
  • Earnings CAGR (5 years)
    11.90%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is MO's fair price?

Two classic value formulas, with today's numbers. The current price is US$66.93.

Graham's fair price
—
Does not apply to MO: the formula needs positive earnings and book value.

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$63.33
5.37% below the price

US$3.80 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

MO indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E13.887.858.7514.1634.8017.06-71.7313.30
P/B-27.53-39.50-20.10-20.54-53.6226.8414.916.26
EV/EBITDA11.579.567.938.599.299.0511.2512.52
Dividend yield7.15%7.57%9.42%7.96%7.34%8.24%6.49%5.79%
Earnings per shareUS$4.16US$6.66US$4.61US$3.23US$1.36US$2.40-US$0.70US$3.71
Book value per share-US$2.09-US$1.32-US$2.01-US$2.23-US$0.88US$1.53US$3.35US$7.89
ROE-198.37%-503.31%-229.66%-145.08%-154.11%157.34%-20.78%47.09%
ROIC41.30%47.39%45.20%49.78%34.17%25.69%0.00%17.34%
Gross margin62.47%59.82%58.34%56.77%53.79%49.80%50.62%48.31%
EBITDA margin43.67%47.99%48.27%48.39%45.38%42.56%42.02%36.83%
Net margin29.84%46.90%33.21%22.97%9.51%17.08%-5.15%27.45%
Net debt/EBITDA2.091.891.911.861.992.202.462.61

MO financial statements

Line202520242023202220212020
Net revenueUS$23.3bnUS$24bnUS$24.5bnUS$25.1bnUS$26bnUS$26.2bn
Cost of sales-US$5.6bn-US$6.1bn-US$6.2bn-US$6.4bn-US$7.1bn-US$7.8bn
Gross profitUS$14.5bnUS$14.4bnUS$14.3bnUS$14.2bnUS$14bnUS$13bn
EBITDAUS$10.2bnUS$11.5bnUS$11.8bnUS$12.1bnUS$11.8bnUS$11.1bn
EBITUS$9.9bnUS$11.2bnUS$11.5bnUS$11.9bnUS$11.6bnUS$10.9bn
Net finance result——————
Profit before taxUS$9.4bnUS$13.7bnUS$10.9bnUS$7.4bnUS$3.8bnUS$6.9bn
Income tax-US$2.4bn-US$2.4bn-US$2.8bn-US$1.6bn-US$1.3bn-US$2.4bn
Net incomeUS$6.9bnUS$11.3bnUS$8.1bnUS$5.8bnUS$2.5bnUS$4.5bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does MO pay dividends?

Announced payments
TypeLast day to ownPaymentPer share
Dividend14/09/202609/10/2026US$1.11

Dividend yield per year

  • 3.49%2017
  • 5.79%2018
  • 6.49%2019
  • 8.24%2020
  • 7.34%2021
  • 7.96%2022
  • 9.42%2023
  • 7.57%2024
  • 7.15%2025
  • 4.76%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend12/06/202610/07/2026US$1.06
Dividend24/03/202630/04/2026US$1.06
Dividend25/12/202509/01/2026US$1.06
Dividend12/09/202510/10/2025US$1.06
Dividend13/06/202510/07/2025US$1.02
Dividend24/03/202530/04/2025US$1.02
Dividend25/12/202410/01/2025US$1.02
Dividend13/09/202410/10/2024US$1.02
Dividend13/06/202410/07/2024US$0.98
Dividend21/03/202430/04/2024US$0.98
Dividend19/12/202310/01/2024US$0.98
Dividend13/09/202310/10/2023US$0.98
See all 39 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend13/06/202310/07/2023US$0.94
Dividend22/03/202328/04/2023US$0.94
Dividend20/12/202210/01/2023US$0.94
Dividend13/09/202211/10/2022US$0.94
Dividend13/06/202211/07/2022US$0.90
Dividend23/03/202229/04/2022US$0.90
Dividend21/12/202110/01/2022US$0.90
Dividend13/09/202112/10/2021US$0.90
Dividend11/06/202109/07/2021US$0.86
Dividend23/03/202130/04/2021US$0.86
Dividend23/12/202011/01/2021US$0.86
Dividend11/09/202009/10/2020US$0.86
Dividend11/06/202010/07/2020US$0.84
Dividend23/03/202030/04/2020US$0.84
Dividend23/12/201910/01/2020US$0.84
Dividend12/09/201910/10/2019US$0.84
Dividend12/06/201910/07/2019US$0.80
Dividend21/03/201930/04/2019US$0.80
Dividend21/12/201810/01/2019US$0.80
Dividend12/09/201810/10/2018US$0.80
Dividend13/06/201810/07/2018US$0.70
Dividend13/03/201810/04/2018US$0.70
Dividend19/12/201710/01/2018US$0.66
Dividend13/09/201710/10/2017US$0.66
Dividend12/06/201710/07/2017US$0.61
Dividend10/03/201710/04/2017US$0.61
Dividend19/12/201610/01/2017US$0.61

About Altria Group

Sector
Manufacturing

Questions about MO

How much is MO today?

MO is at US$66.93 (-0.62% on the day), last traded on 01/10/2026.

How much did MO pay in dividends in 2025?

MO paid US$4.12 per share in 2025, a dividend yield of 7.15%.

When is the next MO dividend?

The next announced payment is US$1.11 per share on 09/10/2026.

What are the P/E and P/B of MO?

MO trades at a P/E of 14.02 and a P/B of -41.88.

How much did MO return in 12 months?

MO returned 26.61% in 12 months, with annualised volatility of 19.39% and a largest drawdown of -5.59%.