If you’re checking the pm stock price today per share, you’re probably seeing a number right around $173.62. That’s where Philip Morris International (PM) wrapped up its latest session on the NYSE. Honestly, if you’d told someone two years ago that a "tobacco company" would be trading at these levels, they’d have probably laughed. But PM isn't really just a cigarette company anymore. It’s becoming a nicotine tech giant.
The stock has been on a bit of a tear lately. Just last week, it hit a 14-week high, and looking back over the last 12 months, shareholders are sitting on a gain of roughly 38.95%. Not bad for a sector most people thought was dying.
Why pm stock price today per share is Moving
Markets don't just move on vibes. There's a lot of real money flowing into PM because of its "smoke-free" pivot. Basically, they've gone all-in on IQOS (heat-not-burn) and ZYN (nicotine pouches).
As of early 2026, smoke-free products make up about 41% of their total revenue. That is huge. They aren't just selling Marlboros in Europe anymore; they are selling a lifestyle change to 41 million adult users worldwide.
- The ZYN Factor: In the third quarter of 2025, ZYN shipments in the U.S. jumped 37% to over 204 million cans.
- IQOS Iluma: The big catalyst everyone is waiting for right now is the broad U.S. launch of IQOS Iluma. It’s been stuck in FDA review, but investors are betting that a green light will "pour gas" on their growth.
- Institutional Buying: Roughly 78% of the stock is held by institutions. When the big players like Vanguard and BlackRock stay steady, the price tends to find a floor.
The Numbers You Actually Care About
Let's talk about the cold, hard cash. PM is currently paying an annual dividend of $5.88 per share. At the current price, that’s a yield of about 3.39%.
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The last dividend payment hit bank accounts on January 14, 2026. If you missed it, you usually have to wait for the next ex-dividend date, which analysts estimate will be late March or early April.
Investors love the predictability here. They've paid a dividend every single year for 17 years straight.
What Wall Street Thinks Right Now
If you ask the suits at the big banks, the consensus is a "Strong Buy."
- Zacks Rank: 1 (Strong Buy)
- Average Price Target: $190.44
- High Estimate: $220.00
- Low Estimate: $166.00
Some analysts, like those at Jefferies, have been super bullish, sticking to targets as high as $220. Others, like Morgan Stanley, are a bit more cautious, hovering around $175 because they’re worried about how much PM is spending on marketing in the U.S. (they dropped about $100 million just on ZYN promotions recently).
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The 2026 Turning Point
Management has set some pretty aggressive targets for 2026. They want to hit 180 to 200 billion units in heated tobacco shipments. They also want to get their debt down. Specifically, they're aiming for a net debt to EBITDA ratio of about 2x.
If they hit these numbers, the pm stock price today per share might look like a bargain in hindsight.
The Risks Nobody Mentions
It’s not all sunshine and nicotine pouches. The biggest headache for PM is currency fluctuation. Since they report in USD but make their money in everything from Euros to Japanese Yen, a strong dollar can eat their profits alive.
There's also the "sin stock" discount. Some ESG-focused funds still won't touch tobacco, which keeps a bit of a ceiling on the valuation compared to a pure-play tech company. Plus, the FDA is unpredictable. If IQOS Iluma hits a regulatory snag, expect a sharp pullback.
Actionable Insights for Investors
If you're looking at PM, don't just stare at the daily ticker. Watch the February 5, 2026 earnings report. Analysts are expecting an EPS of $1.67.
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- Watch the margins: If the cost of promoting ZYN stays high, it might squeeze short-term profits.
- Check the debt: If they stay on track to deleverage, a share buyback program could be on the horizon by late 2026.
- Diversification: PM is basically a bet on the end of the combustible cigarette. If you think the world is going smoke-free, this is the primary vehicle to play that trend.
The current 52-week range is $118.31 to $186.69. Trading at $173.62 puts it near the top of that range, so some consolidation wouldn't be surprising. But with a forward P/E of around 21, it’s still cheaper than a lot of the high-growth tech names, despite growing its earnings at a double-digit clip.
Keep an eye on the March 2026 timeframe for the next dividend announcement. That’s usually when the yield-hungry crowd starts piling back in.
Next Steps for Your Portfolio
Start by verifying your "Ex-Dividend" dates if you're hunting for the next $1.47 payout. If you're looking for a growth entry, wait to see if the price settles toward the 50-day moving average of **$158.81** before initiating a full position. Monitoring the FDA's "De Novo" tobacco product marketing orders will be the most significant signal for the U.S. IQOS rollout this spring.