Altria (MO)财务
NYSE · Consumer Defensive · Tobacco · 员工5,900人 · CEO Salvatore Mancuso
- 股价
- $78.03 +1.67%
- 市值
- $1300亿
- 企业价值
- $1510亿
- 最近财报
- Q3 '26 2026-10-29提交
- 下次财报
- 2027-02-04 EPS预期 $1.39
营收(TTM)$213亿+5.6% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)57.9%-1.6 百分点 对比去年同期营业利润 $123亿
净利润(TTM)$81.2亿-8.5% 对比去年同期税后,含营业外收益
自由现金流(TTM)$90.7亿-1.3% 对比去年同期资本支出 $3.51亿
稀释EPS(TTM)$4.84-7.6% 对比去年同期最近4个季度之和
净现金-$214亿+3.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1300亿 EV $1510亿
- 营收
- $213亿 过去12个月
- 营收增速
- +3% FY2026年一致预期
- 净利润率
- 38.1% 净利润 / 营收,TTM
- P/E
- 16.1× 预期 13.7×(FY2026)
- P/S
- 6.1× 股价 / 营收,TTM
- EV / EBITDA
- 12.6× TTM
- 自由现金流
- $90.7亿 过去12个月
- 净利润
- $81.2亿 过去12个月
- 营收预期
- $207亿 FY2026年一致预期
- 盈利
- 2027-02-04 营收预期 $51.7亿
- 股息
- $4.29 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-29):营收超预期2.4%,EPS 超预期0.7%营收$54.4亿,预期$53.1亿(+2.4%);EPS $1.52,预期$1.51(+0.7%)。
- 营收增长放缓:同比3.6%Q3 '26营收$54.4亿,此前四个季度的平均值为4.8%。
- 营业利润率57.9%(TTM),较去年同期-1.6 百分点营收增长5.6%,营业利润增长2.8%。
- 税前利润的16.5%被营业外亏损吞噬税前利润$106亿,营业利润$123亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的1.6%(去年为0.8%)最近4个季度投入$3.51亿(同比+105.3%)。自由现金流$90.7亿,相当于净利润的111.8%。
- 股东回报$81.4亿 = 自由现金流的89.7%回购$10.2亿(去年为$10.2亿),股息$71.2亿,股权激励$0(TTM)。
- 稀释股数一年内减少0.9%Q3 '26稀释股数16.7亿,一年前为16.8亿。
- 净债务 $214亿现金 + 短期投资 $27亿,含租赁债务 $241亿;一年前净债务 $222亿。
- All other segments:营收+400.0%,利润率-733.3%(此前为1,900.0%)Q3 '26增长最快的披露分部:营收$1200万,营业利润-$8800万(来自财报的分部附注)。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $54.4亿 | $52.5亿 | +3.6% |
| 毛利率 | 72.4% | 72.6% | -0.2 百分点 |
| 营业利润 | $33.1亿 | $32.3亿 | +2.5% |
| 营业利润率 | 60.9% | 61.6% | -0.7 百分点 |
| 净利润 | $25.2亿 | $23.8亿 | +6.0% |
| 稀释EPS | $1.51 | $1.41 | +7.1% |
| 经营现金流 | $31.1亿 | $30.9亿 | +0.5% |
| 资本支出 | $1.09亿 | $5400万 | +101.9% |
| 自由现金流 | $30亿 | $30.4亿 | -1.3% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $0 | $0 | – |
实际 vs 一致预期
2026-10-29| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $54.4亿 | $53.1亿 | +2.4% |
| EPS(一致预期口径) | $1.52 | $1.51 | +0.7% |
来自2026-10-29发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Smokeable Products | $54.3亿 | +0.8% | 88.6% | $207亿 | +0.3% | |
| Smokeless Products | $6.88亿 | -0.1% | 11.2% | $27.8亿 | -0.4% | |
| Other Segments | $1200万 | +400.0% | 0.2% | $5300万 | +630.0% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Smokeable Products Segment | $54.3亿 | +0.8% | $30.5亿 | +3.8% | 56.2% | 54.6% | $113亿 |
| Oral Tobacco Segment | $6.88亿 | -0.1% | $4.34亿 | -5.4% | 63.1% | 66.6% | $16.9亿 |
| All other segments | $1200万 | +400.0% | -$8800万 | -15.8% | -733.3% | 1,900.0% | $7.28亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $94.2亿
- 资本支出
- -$3.51亿
- 股票回购
- -$10.2亿
- 股息
- -$71.2亿
- 收购
- $0
- 债务净发行
- -$15.7亿
- 股权激励费用
- $0
- 自由现金流
- $90.7亿
- 股东回报 / FCF
- 89.7%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 16.1× | 16.1× | 8.0× – 35.4× |
| EV / EBITDA | 12.6× | 11.8× | 7.4× – 21.1× |
| EV / 营收 | 7.1× | 5.2× | 4.6× – 5.9× |
| 股价 / FCF | 14.3× | 10.0× | 7.8× – 10.7× |
| 股价 / 净资产 | -58.5× | – | – |
| FCF收益率 | 7.0% | 10.2% | 9.4% – 12.8% |
| 投入资本回报率 | 34.5% | 30.4% | 23.3% – 34.3% |
| 净资产收益率 | -279.7% | -246.1% | -503.3% – -145.1% |
分析师
一致目标价 $72.50 (-7.1%)
区间 $58.00 – $85.00 · 评级 Buy
强烈买入0
买入16
持有9
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $207亿 | +2.8% | $5.69 | +38.4% | 13.7× | 7 |
| FY2027 | $209亿 | +1.1% | $5.91 | +3.9% | 13.2× | 8 |
| FY2028 | $213亿 | +1.6% | $6.16 | +4.3% | 12.7× | 4 |
| FY2029 | $215亿 | +1.2% | $6.31 | +2.4% | 12.4× | 1 |
| FY2030 | $226亿 | +5.1% | $6.70 | +6.1% | 11.7× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Altria Group, Inc.在近期10-Q / 10-K文件中标记的全部227项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $7.78亿 | $6.62亿 | +17.5% | $7.5亿 | $7亿 | +7.1% |
| Accrued Marketing Costs, Current | $9.8亿 | $8.86亿 | +10.6% | $9.28亿 | $6.88亿 | +34.9% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $29.2亿 | $29.3亿 | -0.4% | $29.6亿 | $29.2亿 | +1.4% |
| Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | $14.2亿2025-12-31 | $13.9亿 | +1.7% | $14.2亿 | $13.9亿 | +1.7% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$22.1亿 | -$27.1亿 | +18.3% | -$26.3亿 | -$24亿 | -9.5% |
| Additional Paid in Capital, Common Stock | $59.2亿 | $59.1亿 | +0.2% | $59.2亿 | $59.1亿 | +0.3% |
| Allowance for Doubtful Accounts, Premiums and Other Receivables | $02025-09-30 | $0 | – | $02024-12-31 | $0 | – |
| Amortization of Intangible Assets | $2100万 | $3800万 | -44.7% | $1.32亿 | $1.39亿 | -5.0% |
| Asset Impairment Charges | – | – | – | $21.3亿 | – | – |
| Assets | $345亿 | $350亿 | -1.5% | $350亿 | $352亿 | -0.5% |
| Assets, Current | $48亿 | $51.2亿 | -6.3% | $59.3亿 | $45.1亿 | +31.4% |
| Buildings and Improvements, Gross | $15.7亿2025-12-31 | $15.5亿 | +1.4% | $15.7亿 | $15.5亿 | +1.4% |
| Business Exit Costs | $300万 | $200万 | +50.0% | $800万 | $3500万 | -77.1% |
| Cash and Cash Equivalents, at Carrying Value | $27亿 | $34.7亿 | -22.3% | $44.7亿 | $31.3亿 | +43.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $27.1亿 | $35亿 | -22.5% | $44.9亿 | $31.6亿 | +42.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $27.1亿 | – | – | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $3.3亿 | $21.9亿 | -84.9% | $13.3亿 | -$5.63亿 | +336.9% |
| Common Stock, Dividends, Per Share, Declared | $1.11 | $1.06 | +4.7% | $4.16 | $4.00 | +4.0% |
| Common Stock, Par or Stated Value Per Share | $0.33 | $0.33 | 0.0% | $0.33 | $0.33 | 0.0% |
| Common Stock, Shares Authorized | 120亿2025-12-31 | 120亿 | 0.0% | 120亿 | 120亿 | 0.0% |
| Common Stock, Shares, Issued | 28.1亿 | 28.1亿 | 0.0% | 28.1亿 | 28.1亿 | 0.0% |
| Common Stock, Shares, Outstanding | 16.7亿2025-12-31 | 16.9亿 | -1.0% | 16.7亿 | 16.9亿 | -1.0% |
| Common Stock, Value, Issued | $9.35亿 | $9.35亿 | 0.0% | $9.35亿 | $9.35亿 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | -$400万 | $0 | – | $02022-12-31 | $0 | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $26.9亿 | $25亿 | +7.6% | $67.2亿 | $115亿 | -41.8% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $26.8亿 | $25亿 | +7.4% | $60.5亿2022-12-31 | $37.6亿 | +60.9% |
| Construction in Progress, Gross | $3.2亿2025-12-31 | $1.99亿 | +60.8% | $3.2亿 | $1.99亿 | +60.8% |
| Contract with Customer, Liability | $1.65亿 | $1.67亿 | -1.2% | $2.31亿 | $2.15亿 | +7.4% |
| Cost of Goods and Services Sold | $15亿 | $14.4亿 | +4.2% | $56亿 | $60.8亿 | -7.9% |
| Current Federal Tax Expense (Benefit) | – | – | – | $23.5亿 | $9.27亿 | +153.3% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Current Income Tax Expense (Benefit) | – | – | – | $27.6亿 | $14.4亿 | +91.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $4.1亿 | $5.16亿 | -20.5% |
| Debt Instrument, Unamortized Discount (Premium), Net | $7800万2025-12-31 | $7600万 | +2.6% | $7800万 | $7600万 | +2.6% |
| Debt Issuance Costs, Net | $1.29亿2025-12-31 | $1.28亿 | +0.8% | $1.29亿 | $1.28亿 | +0.8% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$2.59亿 | $7.64亿 | -133.9% |
| Deferred Income Tax Expense (Benefit) | $6000万 | -$2.27亿 | +126.4% | -$3.16亿 | $9.51亿 | -133.2% |
| Deferred Income Tax Liabilities, Net | $35.8亿 | $34.6亿 | +3.3% | $33.7亿 | $37.5亿 | -10.1% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$5700万 | $1.87亿 | -130.5% |
| Deferred Tax Assets, Capital Loss Carryforwards | – | – | – | $14亿2024-10-31 | – | – |
| Deferred Tax Assets, Gross | $16.4亿2025-12-31 | $18亿 | -8.8% | $16.4亿 | $18亿 | -8.8% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits | $2.64亿2025-12-31 | $2.7亿 | -2.2% | $2.64亿 | $2.7亿 | -2.2% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Legal Settlements | $5.2亿2025-12-31 | $5.85亿 | -11.1% | $5.2亿 | $5.85亿 | -11.1% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Reserves | $3.48亿2025-09-29 | – | – | $3.48亿2025-09-29 | – | – |
| Deferred Tax Assets, Valuation Allowance | $7.79亿2025-12-31 | $6.68亿 | +16.6% | $7.79亿 | $6.68亿 | +16.6% |
| Deferred Tax Liabilities, Gross | $42.2亿2025-12-31 | $48.8亿 | -13.4% | $42.2亿 | $48.8亿 | -13.4% |
| Deferred Tax Liabilities, Intangible Assets | $27.5亿2025-12-31 | $30.3亿 | -9.4% | $27.5亿 | $30.3亿 | -9.4% |
| Deferred Tax Liabilities, Investment in Noncontrolled Affiliates | $10.9亿2025-12-31 | $13.7亿 | -20.8% | $10.9亿 | $13.7亿 | -20.8% |
| Deferred Tax Liabilities, Net | $33.6亿2025-12-31 | $37.4亿 | -10.3% | $33.6亿 | $37.4亿 | -10.3% |
| Deferred Tax Liabilities, Other | $3500万2025-12-31 | $1.33亿 | -73.7% | $3500万 | $1.33亿 | -73.7% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $2.31亿2025-12-31 | $2.35亿 | -1.7% | $2.31亿 | $2.35亿 | -1.7% |
| Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax | -$1.58亿2025-12-31 | -$1.98亿 | +20.2% | -$1.58亿 | -$1.98亿 | +20.2% |
| Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax | -$20.8亿2025-12-31 | -$20.9亿 | +0.5% | -$20.8亿 | -$20.9亿 | +0.5% |
| Defined Contribution Plan, Cost | – | – | – | $1.1亿 | $1.12亿 | -1.8% |
| Depreciation | $3900万 | $3200万 | +21.9% | $1.34亿 | $1.47亿 | -8.8% |
| Depreciation, Depletion and Amortization | $6000万 | $7000万 | -14.3% | $2.66亿 | $2.86亿 | -7.0% |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | – | – | – | $0 | $27亿 | -100.0% |
| Dividends Payable, Current | $18.6亿 | $17.9亿 | +3.9% | $17.8亿 | $17.3亿 | +2.9% |
| Dividends, Common Stock, Cash | $18.5亿 | $17.9亿 | +3.9% | $70.1亿 | $68.4亿 | +2.5% |
| Earnings Per Share, Basic | $1.51 | $1.41 | +7.1% | $4.12 | $6.54 | -37.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01