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Held by 2,744 of 5,944 reporting institutions (100th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $190.48 today, the market must believe free cash flow compounds 13.2%/yr for a decade (off $9.8B normalized FCF).
The market's 13.2% is more optimistic than its 9-yr track record.
2-stage DCF · 1.56B shares · net debt -$4.7B
mean 6.2% · volatility σ 17% · implied rate exceeded in 3/9 yrs
Central path = implied 13.2%/yr growth; shaded band = ±1σ (17%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $40.65B 100.0% | $37.88B 100.0% | $35.17B 100.0% | $31.76B 100.0% | $31.41B 100.0% | $28.69B 100.0% | $29.80B 100.0% | $29.63B 100.0% | $28.75B 100.0% | $26.68B 100.0% |
| Cost of Revenue | $13.37B 32.9% | $13.33B 35.2% | $12.89B 36.7% | $11.40B 35.9% | $10.03B 31.9% | $9.57B 33.3% | $10.51B 35.3% | $10.76B 36.3% | $10.43B 36.3% | $9.39B 35.2% |
| Cost of Products | — | — | — | — | — | — | — | — | $10.43B 36.3% | $9.39B 35.2% |
| Gross Profit | $27.28B 67.1% | $24.55B 64.8% | $22.28B 63.3% | $20.36B 64.1% | $21.38B 68.1% | $19.13B 66.7% | $19.29B 64.7% | $18.87B 63.7% | $18.32B 63.7% | $17.29B 64.8% |
| Research & Development | $756.0M 1.9% | $759.0M 2.0% | $709.0M 2.0% | $642.0M 2.0% | $617.0M 2.0% | $495.0M 1.7% | $465.0M 1.6% | $383.0M 1.3% | $453.0M 1.6% | $429.0M 1.6% |
| Selling, General & Admin | — | — | — | — | — | — | — | — | $164.0M 0.6% | $161.0M 0.6% |
| Operating Income | $14.89B 36.6% | $13.40B 35.4% | $11.56B 32.9% | $12.25B 38.6% | $12.97B 41.3% | $11.67B 40.7% | $10.53B 35.3% | $11.38B 38.4% | $11.58B 40.3% | $10.90B 40.9% |
| Interest Expense | $1.59B 3.9% | $1.76B 4.7% | $1.53B 4.3% | $768.0M 2.4% | $737.0M 2.3% | $728.0M 2.5% | $796.0M 2.7% | $855.0M 2.9% | $1.10B 3.8% | $1.07B 4.0% |
| Interest & Investment Income | $621.0M 1.5% | $620.0M 1.6% | $465.0M 1.3% | $180.0M 0.6% | $109.0M 0.3% | $110.0M 0.4% | $226.0M 0.8% | $190.0M 0.6% | $182.0M 0.6% | $178.0M 0.7% |
| Pretax Income | $13.88B 34.1% | $12.20B 32.2% | $10.45B 29.7% | $11.63B 36.6% | $12.23B 38.9% | $10.95B 38.2% | $9.87B 33.1% | $10.67B 36.0% | $10.59B 36.8% | $9.92B 37.2% |
| Income Tax Expense | $2.74B 6.7% | $3.02B 8.0% | $2.34B 6.6% | $2.24B 7.1% | $2.67B 8.5% | $2.38B 8.3% | $2.29B 7.7% | $2.44B 8.3% | $4.31B 15.0% | $2.77B 10.4% |
| Net Income | $11.35B 27.9% | $7.06B 18.6% | $7.81B 22.2% | $9.05B 28.5% | $9.11B 29.0% | $8.06B 28.1% | $7.18B 24.1% | $7.91B 26.7% | $6.04B 21.0% | $6.97B 26.1% |
| Per Share | ||||||||||
| EPS (Basic) | $7.27 | $4.53 | $5.02 | $5.82 | $5.83 | $5.16 | $4.61 | $5.08 | $3.88 | $4.48 |
| EPS (Diluted) | $7.26 | $4.52 | $5.02 | $5.81 | $5.83 | $5.16 | $4.61 | $5.08 | $3.88 | $4.48 |
| Weighted Avg Shares (Basic) | 1.56B | 1.55B | 1.55B | 1.55B | 1.56B | 1.56B | 1.55B | 1.55B | 1.55B | 1.55B |
| Weighted Avg Shares (Diluted) | 1.56B | 1.56B | 1.55B | 1.55B | 1.56B | 1.56B | 1.56B | 1.55B | 1.55B | 1.55B |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend takes 81% of free cash flow — sustainable but with limited headroom. Last year: $8.6B dividends + $0 buybacks = $8.6B returned on $10.7B FCF.
9 consecutive years of dividend increases · 3%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Modest payoff on reinvested capital. Current ROIC on all capital: -115%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $4.9B covers the $3.5B due within a year 1.4× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~944.6% on $168M of debt.
Cash of $4.9B fully covers short-term debt of $168M.
Mostly short-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
Nothing notable to watch.
Where each multiple sits in its own 14-yr range · 100th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 1.5× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 36.3 | 35.3 | 33.3 | 31.9 | 35.9 | 36.7 | 35.2 | 32.9 |
| Gross Profit | 63.7 | 64.7 | 66.7 | 68.1 | 64.1 | 63.3 | 64.8 | 67.1 |
| R&D | 1.3 | 1.6 | 1.7 | 2.0 | 2.0 | 2.0 | 2.0 | 1.9 |
| Operating Income | 38.4 | 35.3 | 40.7 | 41.3 | 38.6 | 32.9 | 35.4 | 36.6 |
| Income Tax | 8.3 | 7.7 | 8.3 | 8.5 | 7.1 | 6.6 | 8.0 | 6.7 |
| Net Income | 26.7 | 24.1 | 28.1 | 29.0 | 28.5 | 22.2 | 18.6 | 27.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on PM: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 229 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WMT | $852.5B | 39.1× | — | 1.2× | 4.7% | 24.9% | 3.1% | 22.0% | 15.5% | — | 4,273 |
| COST | $396.2B | 49.1× | 30.3× | 1.4× | 8.2% | 12.8% | 2.9% | 27.8% | 23.2% | 0.5× | 4,050 |
| KO | $378.9B | 29.0× | 24.9× | 7.9× | 1.9% | 61.6% | 27.3% | 40.7% | 40.7% | — | 3,427 |
| PG | $346.8B | 22.7× | 16.4× | 4.1× | 0.3% | 51.2% | 19.0% | 30.6% | 18.4% | 1.5× | 3,849 |
| PM | $296.4B | 26.2× | 17.3× | 7.3× | 7.3% | 67.1% | 27.9% | -114% | -115% | 0.0× | 2,744 |
| PEP | $183.0B | 22.3× | 14.9× | 1.9× | 2.3% | 54.1% | 8.8% | 40.4% | 11.8% | 3.3× | 3,404 |
| MO | $116.7B | 16.9× | 13.6× | 5.0× | -3.1% | 62.5% | 29.8% | -198% | 31.3% | 2.5× | 2,375 |
| MDLZ | $80.3B | 32.8× | 18.9× | 2.1× | 5.8% | 28.4% | 6.4% | 9.5% | 8.6% | 0.6× | 1,821 |
| TGT | $72.4B | 19.7× | 10.5× | 0.7× | -1.7% | 27.9% | 3.5% | 22.9% | 12.1% | 1.7× | 1,771 |
| CL | $70.3B | 33.4× | 19.6× | 3.5× | 1.4% | 60.1% | 10.5% | 3948% | 26.5% | 2.0× | 1,873 |
| MNST | $43.5B | — | 16.4× | 5.3× | 10.7% | 55.8% | 23.0% | 23.1% | 23.1% | — | 1,169 |
| KDP | $42.7B | 20.5× | 14.3× | 2.6× | 8.2% | 54.2% | 12.5% | 8.1% | 5.0% | 4.0× | 784 |
| ADM | $42.6B | 39.5× | — | 0.5× | -6.2% | 6.3% | 1.3% | 4.7% | 3.6% | — | 1,070 |
| FMX | $41.0B | — | — | — | — | — | — | — | — | — | 290 |
| JBS | $39.7B | — | — | — | — | — | — | — | — | — | 241 |
| KR | $39.6B | 39.5× | 10.0× | 0.3× | 0.4% | — | 0.7% | 17.1% | 4.7% | 3.0× | 1,327 |
| SYY | $38.6B | 21.2× | 9.7× | 0.5× | 3.2% | 18.4% | 2.2% | 99.9% | 99.9% | — | 1,489 |
| KVUE | $34.2B | 23.5× | 11.7× | 2.3× | -2.1% | 58.1% | 9.7% | 13.7% | 12.0% | 0.5× | 967 |
| HSY | $34.1B | — | 20.1× | 2.9× | 4.4% | 33.5% | 7.6% | 19.0% | 9.3% | 2.5× | 1,406 |
| EL | $33.8B | — | 768.2× | 2.4× | -8.2% | 74.0% | -7.9% | -29.3% | -29.3% | 0.1× | 800 |
| KMB | $32.6B | 16.2× | 10.3× | 2.0× | -2.1% | 36.0% | 12.3% | 135% | 92.0% | 0.2× | 1,585 |
| KHC | $29.3B | — | — | 1.2× | -3.5% | 33.3% | -23.4% | -14.0% | -14.0% | — | 1,059 |
| DG | $27.5B | 18.2× | 8.1× | 0.6× | 5.2% | 30.7% | 3.5% | 17.8% | 17.8% | — | 1,099 |
| KOF | $23.6B | — | — | — | — | — | — | — | — | — | 249 |
| CHD | $23.1B | 31.5× | 18.8× | 3.7× | 1.6% | 44.7% | 11.9% | 18.4% | 11.9% | 1.7× | 1,004 |
Peers = companies sharing PM's sector (Consumer Defensive) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.