MO vs PM – Compare 10 year Dividends & Returns of Altria vs Philip Morris stock, side-by-side

Compare the 10-year performance and dividend income and total return of two biggest companies in the Tobacco industry: Altria Group, Inc. (MO) and Philip Morris International Inc. (PM).

Altria & Philip Morris used to be one company until a split in 2008. After the split, Altria (MO) retained the US part of the combined business, while Philip Morris International (PM) got all the international markets. After split, shareholders of the combined company, received 1 share of each PM and MO.

Given this history, it is especially interesting to see how these two companies did post-split, with equal distributions to pre-split shareholders.

Philip Morris International Inc. PM | NYSE

$201.13 -$0.61 | -0.3%

10 Year Returns (with DRIP): 237.7%

Dividend (Quarterly): $1.60

Dividend Yield (FWD): 3.18%

Altria Group, Inc. MO | NYSE

$76.07 $2.24 | 3.03%

10 Year Returns (with DRIP): 132.3%

Dividend (Quarterly): $1.11

Dividend Yield (FWD): 5.84%

10 years returns for MO & PM - dividends, price growth and total returns:

Stats below compares the performance of a $10,000 investment into each company 10 years ago, with dividends being automatically reinvested (DRIP) on the payout day, with no additional investments.

Here is a chart comparing the 10-year total returns of MO and PM, shown side-by-side. These total return figures take into account dividend reinvestment and represent the value of all shares owned at each respective point in time.

Estimate Dividend Snowball and total future returns for MO and PM with our dividend (DRIP) calculator.

Altria Group, Inc. (MO) and Philip Morris International Inc. (PM) are two names in the Tobacco business, both trading on NYSE. PM is roughly 2.5x MO's size — a $314.4B market cap against $127.0B. Over the trailing twelve months, MO booked $20.4B in revenue against PM's $42.5B. On price, PM has been the faster grower — a 7.57%/yr CAGR over the last 10 years versus 1.59%/yr for MO. The numbers on this page — total returns of a $10,000 dividend-reinvested (DRIP) position, price history, dividend growth, valuation and growth — come straight from our market data.

MO vs PM at a glance

Over the past 10 years, PM delivered the stronger run: a $10,000 position with dividends reinvested grew to $33,771, a 237.7% total return — far ahead of the same $10,000 in MO, which reached $23,235 (132.3%). That is a 105.4-point spread, measured, not projected.

On the dividend side, MO pays $1.11 quarterly — a 5.84% yield at today's $76.07 price — while PM pays $1.60 quarterly for a 3.18% yield at $201.13. Over the window, the $10,000 position collected $7,771 in MO dividends against $6,728 from PM. MO has raised its payout faster, compounding 5.84%/yr against 3.6%/yr for PM.

Every figure in this comparison is computed from DRIPCalc's own price and dividend history for MO and PM — the same data behind every chart and calculator on this page.

Compare Earnings, Free Cash Flow, Dividend Payout Ratios and other metrics for MO vs PM — or open each ticker's full history: MO, PM.

Here are 5 year price charts for MO & PM:

In the span of 10 years, the price of MO climbed 17%, from $64.95 to $76.07 — a compound annual growth rate (CAGR) of 1.59%.

In the span of 10 years, the price of PM climbed 108%, from $96.91 to $201.13 — a compound annual growth rate (CAGR) of 7.57%.

Dividend payments and yield graphs for MO & PM:

The 10-year window opened with MO paying $0.98 per share; the latest payment is $1.11 — a dividend CAGR of 5.84%. PM went from $1.04 to $1.60 over the same stretch, a 3.6% CAGR.

Expanded Chart

×

1Y 2Y 5Y 10Y All

Charts above show historic dividend payments for each company, with the Dividend Yield curve overlaying the payments and the Dividend CAGR for the last 1, 2, 5 and 10 years. A rising yield curve means the price was cheap relative to the dividend at those payment dates; a sloping-down curve means the stock was getting more expensive relative to its dividends.

Based on MO's 10-year CAGR, it would take 12.33 years to double your dividend yield-on-cost.
Based on PM's 10-year CAGR, it would take 20 years to double your dividend yield-on-cost.

Rule of 72: divide 72 by a growth rate to approximate the years it takes to double — the doubling times above come straight from each dividend CAGR on this page. One caution: extreme double-digit yields have historically often preceded dividend cuts.

Investing $10,000 in MO & PM today: Estimated Future Return & Dividends:

Looking across up to ten years of history, MO achieved a share price compound annual growth rate (CAGR) of 1.59%, accompanied by a dividend CAGR of 5.84%.

By the same measure, PM recorded a share price CAGR of 7.57%, along with a dividend CAGR of 3.6%.

How a $10,000 investment could perform based on these historic CAGR numbers:

If you invest $10000 today into one of these companies, applying these CAGR figures forecasts the 10-year path of your initial investment, assuming dividends are continuously reinvested (DRIP), as detailed below:

And here is how your $10,000 investment into Altria Group, Inc. or Philip Morris International Inc. could perform based on the CAGR figures above, represented on a graph - a Dividend DRIP Snowball:

Try our dividend DRIP calculator: MO or PM - estimate your returns and dividend income!

Using our dividend calculator, you can customize initial investment, projected Dividend & Price growth rate, additional investment amount and frequency, to fit your investing style and goals.

The figures above are projections built on each stock's historical Dividend and Price CAGR under a DRIP assumption — estimations only, and actual returns will vary.

Latest price & signal check: MO vs PM

MO$76.07

Trend Signal:|Oct 9 '26|RSI 72MO has a Trend Signal — Oct 9 '26 (14 days ago)

PM$201.13

Trend Signal:|Oct 8 '26|RSI 57PM has a Trend Signal — Oct 8 '26 (15 days ago)

Signal states are computed by our signals engine from price data — shown here as data points, not recommendations.

Longer-term price trends: MO vs PM

MO last closed at $76.07, within 0% of its 52-week high of $76.07. The share price has gone up 18.1% over the last year, a 9.5%/yr pace over five years, compounded 1.8%/yr over the decade.

PM last closed at $201.13, 2.2% below its 52-week high of $205.58. The share price has gone up 27.5% over the last year, a 15.7%/yr pace over five years, compounded 7.6%/yr over the decade.

Price CAGRs are computed from closing prices over each window — descriptive history, not a projection.

Earnings power: what MO and PM actually earn

Over the trailing twelve months, MO earned $4.74 per share on $20.44B of revenue, while PM earned $6.96 per share on $42.55B — MO's revenue base is barely half of PM's.

MO compounded reported EPS at 7.6%/yr over 3 years (14.1%/yr over 5). Meanwhile PM compounded reported EPS at 10.4%/yr over 3 years (4.1%/yr over 5). Both rates compare reported results with reported results — the forward view further down uses estimates against estimates.

Against expectations: MO beat GAAP-based street numbers in 3 of the last 8 quarters; PM beat GAAP-based street numbers in 4 of the last 8 quarters.

Head-to-head: MO vs PM across four metric families

Each family scores its own game — cheaper wins valuation, faster wins growth, higher wins profitability, cleaner wins cash quality. A cell is highlighted when the gap tops 3%; anything tighter is scored even.

* forward figures use street estimates for quarters past the last reported one (45-day window). Forward EPS growth = the next 4 quarters' street estimates over the last 4 quarters' street estimates (estimate over estimate, never estimates over reported actuals) — the same figure as each stock page's Company Overview. PEG = forward PE ÷ that growth (N/M under 2% growth). Forward PE is price over estimated earnings — the market convention.

Free cash flow: the money that's actually left over

MO generated $9.11B of free cash flow over the trailing twelve months — 28% less than PM's $12.72B.

Per share, quarter by quarter — the cleaner lens once buybacks enter the picture:

Quality check — MO converts 114% of net income into free cash (up from 99% a year ago); PM converts 117% of net income into free cash (up from 109% a year ago). Above 100% means the business throws off more cash than its accounting profit suggests.

Capital intensity: capex eats 1.4¢ of every revenue dollar at MO — up from 0.7¢ a year ago; capex eats 3.6¢ of every revenue dollar at PM — flat year over year.

The margin story: who keeps more of each sale

MO's net margin averaged 37.6% over the last four quarters vs 42.8% the year before — contracting. PM's net margin averaged 25.5% over the last four quarters vs 21% the year before — expanding.

If the trends hold: a 5-year back-of-the-envelope for MO & PM

If MO delivers the street's next-four-quarter EPS and compounds it at the estimate-over-estimate 3.5%/yr, still fetching 13.2x forward earnings in five years, the stock would trade near $87.35. A buyer demanding 15%/yr returns could pay up to $43.43 today (current price: $76.07).

If PM delivers the street's next-four-quarter EPS and compounds it at the estimate-over-estimate 10.2%/yr, still fetching 23x forward earnings in five years, the stock would trade near $296.67. A buyer demanding 15%/yr returns could pay up to $147.50 today (current price: $201.13).

Caveat, prominently: these paths extrapolate street estimates and today's forward multiples five years into the future. Estimates get revised, multiples compress, trends bend, cycles turn — treat this as arithmetic, not prophecy.

Yield-on-cost, five years out

At today's 5.84% yield, five more years of MO's 5.84%/yr dividend growth would put the yield-on-cost at 7.76% of today's price. Meanwhile, at today's 3.18% yield, five more years of PM's 3.6%/yr dividend growth would put the yield-on-cost at 3.8% of today's price.

MO vs PM: quick answers