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NYQ · Valuation Lab
PM
Philip Morris International Inc
Last$188.93
Market cap294.5B
EV/EBITDA18.7x
Intrinsic value
$259.88
MoS +27.3% · Undervalued
Assuming 22.8% FCF margin and 10.4% Y1–5 growth.
Upside to price
EV (DCF)448.2B
Terminal share75%
Expected IV$254.58
Probability weights
Projected free cash flows
Stage FCF path with present values · terminal 75% of EV
PV of stage FCFs113B
PV of terminal value335.2B
Enterprise value448.2B
Net cash / (debt)-43.1B
Equity value405.1B
Intrinsic value / share$259.88
| Year | Revenue | FCF | PV | DF |
|---|---|---|---|---|
| Y1 | 47B | 10.7B | 10.1B | 94.3% |
| Y2 | 51.9B | 11.8B | 10.5B | 89.0% |
| Y3 | 57.2B | 13.1B | 11B | 84.0% |
| Y4 | 63.2B | 14.4B | 11.4B | 79.2% |
| Y5 | 69.8B | 15.9B | 11.9B | 74.7% |
| Y6 | 73.4B | 16.7B | 11.8B | 70.5% |
| Y7 | 77.2B | 17.6B | 11.7B | 66.5% |
| Y8 | 81.2B | 18.5B | 11.6B | 62.7% |
| Y9 | 85.5B | 19.5B | 11.5B | 59.2% |
| Y10 | 89.9B | 20.5B | 11.4B | 55.8% |
| Terminal | — | — | 335.2B | — |
Educational DCF model only — not financial advice. Terminal value and assumptions dominate results; verify filings and run your own diligence.