Altria (MO) FY2025 10-K Annual Report
Altria (MO) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Altria FY2025 10-K Analysis
Business Overview
- • U.S.-focused tobacco portfolio (cigarettes, cigars, MST, oral pouches, e-vapor) sold primarily to domestic wholesalers and retailers
- • Horizon joint venture (75% Altria / 25% Japan Tobacco) established for U.S. HTS commercialization; no products yet in marketplace as of Feb 2026
Management Discussion & Analysis
- • Net revenues $23.3B, down $739M (3.1%) YoY; smokeable products drove decline at $20.5B vs $21.2B
- • Reported net earnings fell 38.3% to $6.95B ($4.12 diluted EPS); adjusted net earnings $9.15B, up 2.4%, adjusted EPS $5.42 vs $5.19
Risk Factors
- • ITC-imposed import ban on NJOY ACE (patent suit by JUUL), forced product removal; additional JUUL suit pending over NJOY Daily
- • Nicotine extract for innovative smoke-free products sourced from a single country; no alternate source identified
Altria FY2025 Key Financial MetricsXBRL
Revenue
$23.3B
▼ -3.1% YoY
Net Income
$6.9B
▼ -38.3% YoY
Gross Margin
62.5%
▲ +265bp YoY
Operating Margin
42.5%
▼ -428bp YoY
Net Margin
29.8%
▼ -1706bp YoY
ROE
-198.4%
▲ +30493bp YoY
Total Assets
$35.0B
▼ -0.5% YoY
EPS (Diluted)
$4.12
▼ -37.0% YoY
Operating Cash Flow
$9.3B
▲ +6.1% YoY
Source: XBRL data from Altria FY2025 10-K filing on SEC EDGAR. All figures in USD.
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