PM · 10-Q · 2026Q2 · Full report
Operating Cash Flow Outlook
Philip Morris International Inc. · 2026-07-24 · Importance 75 · Surprise 60 · Contradicted
PMI expects approximately $13.5 billion of net cash provided by operating activities for the full year 2026 at prevailing exchange rates. The outlook remains subject to year-end working capital requirements. The forecast represents management’s current liquidity and cash-generation expectation for 2026.
Key facts
- For the full year 2026, PMI currently expects net cash provided by operating activities of around $13.5 billion at prevailing exchange rates, subject to year-end working capital requirements. source
- For full year 2026 PMI currently expects broadly stable to slightly growing total PMI cigarette and SFP shipment volume, with high-single digit SFP shipment volume growth, and a cigarette shipment volume decline of 2% to 3% (previously around 3%). source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | committed | +16.8% | For the full year 2026, PMI currently expects net cash provided by operating activities of around $13.5 billion at prevailing exchange… |