MO Consumer Defensive

Altria Group, Inc.

$76.94-0.30%

Price as of close on Nov 3, 2026 · Financials updated Oct 10, 2026

Basics

Sector: Consumer Defensive
Industry: Tobacco
Country: United States
Market cap: 128.5B USD
Enterprise value: 147.6B USD
Full-time employees: 5,900

Overall health

Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.52 vs a peer median of 1.52)higher risk: less liquidity (current ratio 0.52 vs peers 1.52)
About average: valuation

Ranks #449 of 761 consumer defensive companies (bottom 42%)

See how it ranks against its peers

Worth knowing

Negative shareholders' equity. Liabilities exceed assets on the balance sheet.
Altria's liabilities exceed its assets on the balance sheet. Large share buybacks can cause this in healthy companies, but so can accumulated losses; either way, debt-based ratios need care.
Annual revenue fell three years running. Fiscal-year revenue down each year from 2022 to 2025.
Altria's fiscal-year revenue declined in each of the three years to 2025.
Share count shrinking. Shares outstanding down 6.5% from December 2022 to July 2026.
Altria had 6.5% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Profit is backed by cash. Free cash flow is 114% of reported profit.
Altria's free cash flow is 114% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

StockQuotient Score

46/ 100

Oct 5 47 → Nov 4 46 (-1)

Valuation

Is the price right?

52/100

Moderate▼ 2 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 54 → 52

Share price +4.7%-3
Company's reported figures updated+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield6.2%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.56Sector median: 0.0453 · MAD: 0.0301

EBITDA yield7.4%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.28Sector median: 0.0865 · MAD: 0.0435

Free cash flow yield7.1%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.20Sector median: 0.0622 · MAD: 0.0441

Other data (not scored)

Book yield-2.1%

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.5381 · MAD: 0.2865

Growth

Is it growing?

28/100

Weak▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Score 27 → 28

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ 3-yr revenue
▼ Revenue growth
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-8.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.41Sector median: 0.0154 · MAD: 0.2529

3-year revenue growth-2.0%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -1.20Sector median: 0.0366 · MAD: 0.0470

Revenue growth-0.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.57Sector median: 0.0278 · MAD: 0.0585

Profitability

Does it earn well?

99/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Operating margin
▲ ROA
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin46.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.97Sector median: 0.0759 · MAD: 0.0508

Return on assets23.9%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.55Sector median: 0.0396 · MAD: 0.0262

Return on invested capital44.4%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 5.33Sector median: 0.0766 · MAD: 0.0673

Other data (not scored)

Gross margin63.0%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.3182 · MAD: 0.1263

Return on equityUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.0831 · MAD: 0.0675

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 5 → 4

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.46

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.32Sector median: 0.4070 · MAD: 0.1690

Current ratio0.52×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score -1.49Sector median: 1.5250 · MAD: 0.6460

Debt / equityUnavailable

Shareholders' equity is negative, so debt/equity counts as among the highest in its peer group33% base weight · Z-score -5.63Sector median: 0.4234 · MAD: 0.3581

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Altria

Is Altria getting weaker?: Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is unchanged at 46/100 since Oct 28, 2026.
How is Altria valued vs its peers?: Priced about in line with its peers. Valuation scores 52/100 against 823 consumer defensive peers. Earnings yield 6.2% vs a peer median of 4.5% (stronger than 67% of peers).Earnings yield 6.2% vs peers 4.5% (stronger than 67% of peers).
Is Altria growing?: More slowly than most of its peers. Growth scores 28/100 against 823 consumer defensive peers. 3-year revenue growth -2.0% vs a peer median of 3.7% (weaker than 79% of peers).3-year revenue growth -2.0% vs peers 3.7% (weaker than 79% of peers).
How profitable is Altria?: More profitable than most of its peers. Profitability scores 99/100 against 823 consumer defensive peers. Operating margin 46.8% vs a peer median of 7.6% (stronger than 95% of peers).Operating margin 46.8% vs peers 7.6% (stronger than 95% of peers).
How risky is Altria?: Higher risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Current ratio 0.52× vs a peer median of 1.52× (weaker than 100% of peers).Current ratio 0.52× vs peers 1.52× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 30, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	23.4B USD	23.5B USD	+0.0%
Net income (12 months)	8.1B USD	8.0B USD	−1.0%
Operating margin	47.2%	46.8%	−0.4 pts
Free cash flow (12 months)	8.6B USD	9.1B USD	+5.7%
Debt	24.6B USD	24.6B USD	−0.1%
Cash	3.5B USD	2.4B USD	−33.0%
Shares outstanding	1.67B	1.67B	−0.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Consumer Defensive · 91 companies

Valuations in Consumer Defensive are within their usual range since 2016.

30% of months since 2016 were valued lower than now.
18% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −4% and earnings +7% (medians): prices and earnings moved broadly together.
Median price-to-sales is −58% vs the whole market, against a usual −39%.

2016Shaded: most expensive fifth of its range2026

Shown for Consumer Defensive: too few Tobacco companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	53.8%	56.8%	58.3%	59.8%	62.5%	▲ 2.7 pts
Operating margin	44.4%	47.5%	47.2%	46.8%	42.5%	▼ 4.3 pts
Net margin	9.5%	23.0%	33.2%	46.9%	29.8%	▼ 17 pts
Return on assets (ROA)	6.3%	15.6%	21.1%	32.0%	19.8%	▼ 12 pts
Return on equity (ROE)	—	—	—	—	—	—
Free cash flow margin	31.7%	32.1%	37.1%	35.9%	39.0%	▲ 3.1 pts
Current ratio	0.71×	0.84×	0.49×	0.51×	0.65×	▲ 26%
Quick ratio	0.57×	0.70×	0.39×	0.39×	0.53×	▲ 36%
Debt to equity	—	—	—	—	—	—
Interest coverage	9.73×	10.57×	10.05×	10.00×	8.41×	▼ 16%

MO price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.52 vs a peer median of 1.52)higher risk: less liquidity (current ratio 0.52 vs peers 1.52)

About average: valuation

Ranks #449 of 761 consumer defensive companies (bottom 42%)

See how it ranks against its peers

Worth knowing

Negative shareholders' equity. Liabilities exceed assets on the balance sheet.

Altria's liabilities exceed its assets on the balance sheet. Large share buybacks can cause this in healthy companies, but so can accumulated losses; either way, debt-based ratios need care.

Annual revenue fell three years running. Fiscal-year revenue down each year from 2022 to 2025.

Altria's fiscal-year revenue declined in each of the three years to 2025.

Share count shrinking. Shares outstanding down 6.5% from December 2022 to July 2026.

Altria had 6.5% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Profit is backed by cash. Free cash flow is 114% of reported profit.

Altria's free cash flow is 114% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Questions investors ask about Altria

Is Altria getting weaker?

Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is unchanged at 46/100 since Oct 28, 2026.

How is Altria valued vs its peers?

Priced about in line with its peers. Valuation scores 52/100 against 823 consumer defensive peers. Earnings yield 6.2% vs a peer median of 4.5% (stronger than 67% of peers).Earnings yield 6.2% vs peers 4.5% (stronger than 67% of peers).

Is Altria growing?

More slowly than most of its peers. Growth scores 28/100 against 823 consumer defensive peers. 3-year revenue growth -2.0% vs a peer median of 3.7% (weaker than 79% of peers).3-year revenue growth -2.0% vs peers 3.7% (weaker than 79% of peers).

How profitable is Altria?

More profitable than most of its peers. Profitability scores 99/100 against 823 consumer defensive peers. Operating margin 46.8% vs a peer median of 7.6% (stronger than 95% of peers).Operating margin 46.8% vs peers 7.6% (stronger than 95% of peers).

How risky is Altria?

Higher risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Current ratio 0.52× vs a peer median of 1.52× (weaker than 100% of peers).Current ratio 0.52× vs peers 1.52× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

23.4B USD

23.5B USD

+0.0%

Net income (12 months)

8.1B USD

8.0B USD

−1.0%

Operating margin

47.2%

46.8%

−0.4 pts

Free cash flow (12 months)

8.6B USD

9.1B USD

+5.7%

Debt

24.6B USD

24.6B USD

−0.1%

Cash

3.5B USD

2.4B USD

−33.0%

Shares outstanding

1.67B

1.67B

−0.0%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

53.8%

56.8%

58.3%

59.8%

62.5%

▲ 2.7 pts

Operating margin

44.4%

47.5%

47.2%

46.8%

42.5%

▼ 4.3 pts

Net margin

9.5%

23.0%

33.2%

46.9%

29.8%

▼ 17 pts

Return on assets (ROA)

6.3%

15.6%

21.1%

32.0%

19.8%

▼ 12 pts

Return on equity (ROE)

—

Free cash flow margin

31.7%

32.1%

37.1%

35.9%

39.0%

▲ 3.1 pts

Current ratio

0.71×

0.84×

0.49×

0.51×

0.65×

▲ 26%

Quick ratio

0.57×

0.70×

0.39×

0.53×

▲ 36%

Debt to equity

—

Interest coverage

9.73×

10.57×

10.05×

10.00×

8.41×

▼ 16%