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ALTRIA GROUP, INC.MO

Sector
Other
Industry
Cigarettes
Exchange
NYSE

Stock Price $MO

Latest filings

You are here#7 of 17 in Consumer Staples by market cap

Filing record · 2016–202610-K2110-Q328-K143

MO filed 21 annual reports (10-K), 32 quarterly reports (10-Q) and 143 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Material agreement8-K · Jan ’20Jan ’20
  3. Leadership change8-K · Feb ’22Feb ’22
  4. Leadership change8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $23.28B
YoY changeLargest recent move+4.2%in FY20Latest −3.1%

1 older move runs past ±5% (largest +21.7%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All MO Financial Metrics58 metrics

Income Statement15

Balance Sheet24

Cash Flow14

Per Share5

02—Overview

ALTRIA GROUP, INC. Financial Overview 2021–2025

Updated Jul 10, 2026

Despite a severe 10.0% decrease in cigarette shipment volume during FY2025, Altria managed to grow its adjusted diluted EPS by 4.4% to $5.42a. This resilience exposes the core investment thesis for the tobacco giant: aggressive pricing power and ruthless capital allocation continue to shield bottom-line profitability from a secular decline in smoking.

The financial arc of the business relies on extracting cash from a shrinking legacy core to fund smoke-free ventures and shareholder payouts. Total outstanding shares were reduced from 1.82 billion in FY2021 to 1.67 billion in FY2025 through systematic buybacks. Meanwhile, the legacy engine remained intact; FY2025 smokeable net revenues reached $20.5 billionb, as price hikes successfully offset structural volume losses. Altria aggressively redirects this cash toward strategic pivots, highlighted by the $2.9 billion acquisition of NJOY in FY2023, even as the e-vapor unit absorbed a $1.16 billion non-cash impairment in FY2025 due to fierce competition from illicit disposable products.

This tension between declining legacy volumes and regulatory headwinds dictates the market's pricing. At the close of FY2025, Altria traded at a 14.0x P/E ratio with a $57.66 close pricec, commanding a $96.5 billion market cap. Core operational momentum carried into Q1 2026, with net earnings surging over 100% year-over-year to $2.18 billion on favorable tax adjustments and further price realizations. The legacy tobacco model continues to generate immense cash flow ahead of a major CEO transition scheduled for May 2026.

Recent Developments (Q4 2025 and Q1 2026)

Altria deployed $280 milliond to repurchase 4.5 million shares in Q1 2026. Operational metrics showed stabilization, with domestic cigarette shipments dropping 2.4%. The oral tobacco segment faced a 3.1% decrease in shipment volumes, though oral nicotine pouches captured additional U.S. market share. Adjusted net earnings climbed 6.2% to $2.22 billion, supported by a balance sheet featuring $3.5 billion in cash.

Leadership restructured as Salvatore Mancuso assumed the CEO role with a $1,350,000e base salary and Heather A. Newman became CFO. Former CEO William F. Gifford transitioned to a consultant through December 2026 at $250,000 per month. Bulls view the steady adjusted earnings and oral pouch expansion as evidence of a successful product transition. Bears warn that simultaneous volume declines across both smokeable and oral categories signal underlying demand erosion. Trading at 17.6x earnings as of April 30, 2026, the $121.6 billion market cap suggests the stock is richly valued given ongoing structural headwinds.

What to watch: oral nicotine pouch market share trends; strategic shifts under the new executive team.

03—Filings

Recent SEC Filings

  1. 8-KALTRIA GROUP, INC. 8-K Report, Material Agreement (Oct 9, 2026)Altria Group, Inc. (MO) has announced a material definitive agreement through an extension of its existing credit facility. Effective October 7, 2026, the company entered into the "2026 Extension Agreement" to amend its $3.0 billion senior unsecured 5-year revolving credit agreement. This amendment primarily extends the expiration date of the facility by one year, from October 24, 2029, to October 24, 2030. This extension provides Altria with continued access to a significant source of liquidity, which is crucial for its ongoing operations, strategic initiatives, and financial flexibility. The extension demonstrates the continued confidence of its lenders in Altria's financial stability and creditworthiness. All other terms and conditions of the original credit agreement remain unchanged, ensuring continuity in its debt structure.
  2. 8-KALTRIA GROUP, INC. 8-K Report, Executive Changes (Aug 28, 2026)Altria Group, Inc. (MO) announced a change to its Board of Directors on August 28, 2026, with the election of Steven W. Presley, effective August 27, 2026. The Board's size was expanded from 10 to 11 directors to accommodate this appointment. Mr. Presley has also been appointed to key committees, including Compensation and Talent Development, Innovation, and Finance, and has been deemed an independent director in accordance with NYSE and Altria's standards. Investors can expect Mr. Presley to be compensated under Altria's standard non-employee director compensation program, as detailed in the company's 2026 proxy statement. This strategic addition to the Board, accompanied by a press release, signifies Altria's ongoing efforts to enhance its governance and strategic oversight through experienced leadership.
  3. 8-KALTRIA GROUP, INC. 8-K Report, Financial Results (Jul 30, 2026)Altria Group, Inc. (MO) has filed an 8-K report on July 30, 2026, to announce its financial results for the quarter ended June 30, 2026. The core of this filing is a press release, attached as Exhibit 99.1, which provides details on the company's performance. Investors should note that the information furnished under Item 2.02, including the press release, is not considered "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, nor is it automatically incorporated by reference into future SEC filings unless specifically stated.
  4. 8-KALTRIA GROUP, INC. 8-K Report, Executive Changes (May 18, 2026)Altria Group, Inc. (MO) filed an 8-K on May 18, 2026, detailing executive compensation arrangements and reporting results from its Annual Meeting of Shareholders held on May 14, 2026. The report formally announces the compensation packages for the newly appointed CEO, Salvatore Mancuso, and CFO, Heather A. Newman, effective May 14, 2026. This includes their base salaries, annual incentive and equity award targets, and long-term incentive plan awards, along with specific details on restricted and performance stock units for Mr. Mancuso. The filing also outlines the retirement arrangements and post-employment consulting agreement for former CEO William F. Gifford, Jr., including final incentive payments and the treatment of his unvested stock awards. Shareholder voting results from the Annual Meeting indicate strong approval for the election of all 10 director nominees and the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2026. Additionally, a non-binding advisory vote to approve the compensation of named executive officers was also approved. The report confirms Mr. Mancuso's election as CEO and Ms. Newman's as CFO, as previously disclosed, and details their compensation structures designed to align with their new leadership roles.
  5. 8-KALTRIA GROUP, INC. 8-K Report, Financial Results (Apr 30, 2026)Altria Group, Inc. (MO) has filed a Current Report (8-K) on April 30, 2026, to announce its financial results for the first quarter ended March 31, 2026. The primary purpose of this filing is to provide investors with the company's performance update through an accompanying press release, which is incorporated by reference. Investors should note that the information furnished under Item 2.02, including the press release, is generally not considered "filed" for regulatory purposes, meaning it does not carry the same liabilities as formally filed documents under Section 18 of the Securities Exchange Act. However, it remains crucial for understanding the company's recent operational and financial standing. The press release, attached as Exhibit 99.1, contains the detailed financial results for the quarter. While the 8-K itself is a brief procedural document, the substance of the investor update lies within the referenced press release. Investors are advised to review Exhibit 99.1 for specifics on revenue, earnings, and any forward-looking statements or management commentary related to Altria's performance and outlook in the current market environment.
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04—See also

Related Companies

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