Sector Alpha Week of 2026-07-28
20-quarter listed-company comparison

Tobacco Stocks

Tobacco: Philip Morris International Inc. owns the largest revenue base; Turning Point Brands, Inc. has the fastest current growth.

The industry itself · before any single company

How has Tobacco moved against S&P 500?

The line below covers 5.2 years. Over the most recent two of them this industry is 2% ahead of S&P 500. Earnings across its companies grew 17% on average over the last four reported quarters.

BASING · 1y −16.8%✓Moving with the index1 of 7 companies ahead of S&P 500 by 5% or more over three months2 are 20% or more behind over a year while earnings grew 20% or more

RS — · 4/7 >200d (+1) · 1/7 lead (+0) · EPS 4/6↑

200202620252024202320222021 231348 TRAILING 12-MONTH EPS · 100 AT THE START0100126Mar 22Sep 22Mar 23Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26Mar 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 5 reportingJun 2022 · trailing 12-month earnings per share at 87, against 100 at the start · down 13.0% on a year ago · 6 reportingSep 2022 · trailing 12-month earnings per share at 97, against 100 at the start · no comparable year yet · 5 reportingDec 2022 · trailing 12-month earnings per share at 103, against 100 at the start · down 1.3% on a year ago · 6 reportingMar 2023 · trailing 12-month earnings per share at 97, against 100 at the start · down 3.3% on a year ago · 5 reportingJun 2023 · trailing 12-month earnings per share at 111, against 100 at the start · up 10.8% on a year ago · 6 reportingSep 2023 · trailing 12-month earnings per share at 89, against 100 at the start · down 8.2% on a year ago · 5 reportingDec 2023 · trailing 12-month earnings per share at 84, against 100 at the start · up 12.2% on a year ago · 6 reportingMar 2024 · trailing 12-month earnings per share at 91, against 100 at the start · up 6.5% on a year ago · 5 reportingJun 2024 · trailing 12-month earnings per share at 97, against 100 at the start · up 30.8% on a year ago · 6 reportingSep 2024 · trailing 12-month earnings per share at 109, against 100 at the start · up 22.3% on a year ago · 5 reportingDec 2024 · trailing 12-month earnings per share at 81, against 100 at the start · up 3.4% on a year ago · 6 reportingMar 2025 · trailing 12-month earnings per share at 91, against 100 at the start · down 5.3% on a year ago · 5 reportingJun 2025 · trailing 12-month earnings per share at 93, against 100 at the start · down 6.9% on a year ago · 6 reportingSep 2025 · trailing 12-month earnings per share at 114, against 100 at the start · down 6.9% on a year ago · 5 reportingDec 2025 · trailing 12-month earnings per share at 126, against 100 at the start · up 52.7% on a year ago · 6 reportingMar 2026 · trailing 12-month earnings per share at 118, against 100 at the start · up 28.9% on a year ago · 5 reportingNot reported yet — earnings trail price by a quarter or two118 · Mar 26No earnings on file this far back — the price series reaches further than the filings do
200202620252024202320222021 231348 TRAILING 12-MONTH EPS · 100 AT THE START0100126Mar 22Mar 23Mar 24Mar 25Mar 26Mar 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 5 reportingJun 2022 · trailing 12-month earnings per share at 87, against 100 at the start · down 13.0% on a year ago · 6 reportingSep 2022 · trailing 12-month earnings per share at 97, against 100 at the start · no comparable year yet · 5 reportingDec 2022 · trailing 12-month earnings per share at 103, against 100 at the start · down 1.3% on a year ago · 6 reportingMar 2023 · trailing 12-month earnings per share at 97, against 100 at the start · down 3.3% on a year ago · 5 reportingJun 2023 · trailing 12-month earnings per share at 111, against 100 at the start · up 10.8% on a year ago · 6 reportingSep 2023 · trailing 12-month earnings per share at 89, against 100 at the start · down 8.2% on a year ago · 5 reportingDec 2023 · trailing 12-month earnings per share at 84, against 100 at the start · up 12.2% on a year ago · 6 reportingMar 2024 · trailing 12-month earnings per share at 91, against 100 at the start · up 6.5% on a year ago · 5 reportingJun 2024 · trailing 12-month earnings per share at 97, against 100 at the start · up 30.8% on a year ago · 6 reportingSep 2024 · trailing 12-month earnings per share at 109, against 100 at the start · up 22.3% on a year ago · 5 reportingDec 2024 · trailing 12-month earnings per share at 81, against 100 at the start · up 3.4% on a year ago · 6 reportingMar 2025 · trailing 12-month earnings per share at 91, against 100 at the start · down 5.3% on a year ago · 5 reportingJun 2025 · trailing 12-month earnings per share at 93, against 100 at the start · down 6.9% on a year ago · 6 reportingSep 2025 · trailing 12-month earnings per share at 114, against 100 at the start · down 6.9% on a year ago · 5 reportingDec 2025 · trailing 12-month earnings per share at 126, against 100 at the start · up 52.7% on a year ago · 6 reportingMar 2026 · trailing 12-month earnings per share at 118, against 100 at the start · up 28.9% on a year ago · 5 reportingNot reported yet — earnings trail price by a quarter or two118No earnings on file this far back — the price series reaches further than the filings do
Tobacco, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling
Strength anatomy NarrowHow much of the industry is participating, how recently, and whether the movers score well.
Together1 of 7 stocks moving
Fresh1 crossed in the last 4 weeks
Backed by scoresmovers score +19 vs the industry average
Down the cap ladder — bar is now, tick is four weeks ago
Large 1/2+1
Mid 0/20
Small 0/3−1

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 7 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Tobacco outperforming S&P 500?

Tobacco has underperformed S&P 500 by 12.9% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 5.5%. 2 of 6 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is broad. Philip Morris International Inc. is the strongest against the sector itself at +20.3%.

-5.5%Sector vs S&P 500 · 13 weeks
-12.9%Sector vs S&P 500 · 52 weeks
2/6Stocks leading S&P 500
4/6Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Tobacco has underperformed S&P 500 by 12.9% over 52 weeks and 5.5% over 13 weeks. 2 of 6 covered companies beat the S&P 500 on Mansfield relative strength, while 4 of 6 beat the sector itself. Philip Morris International Inc. leads with revenue of $41,493 million, based on 4 of 6 comparable companies through Mar 2026.

Is the Tobacco sector outperforming S&P 500?

Tobacco has underperformed S&P 500 by 12.9% over 52 weeks and 5.5% over 13 weeks. 2 of 6 covered companies beat the S&P 500 on Mansfield relative strength, while 4 of 6 beat the sector itself.

Which Tobacco company is largest by revenue?

Philip Morris International Inc. leads with revenue of $41,493 million, based on 4 of 6 comparable companies through Mar 2026.

Which Tobacco company is growing fastest?

Turning Point Brands, Inc. has the fastest current revenue growth at 25.3%, across 4 of 6 comparable companies.

Which Tobacco company has the strongest 4-Factor Sector Score?

Philip Morris International Inc. ranks first at 70.7/100 with 86.2% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Tobacco company reports the most CAPEX?

British American Tobacco p.l.c. reports the largest latest CAPEX at $448 million, with 5 of 6 companies comparable.

Which Tobacco company has the least gross debt?

Turning Point Brands, Inc. has the lowest comparable gross debt at $305 million. Philip Morris International Inc. has the highest at $51,948 million.

Which Tobacco company has the lowest comparable PEG?

Universal Corporation has the lowest comparable Guarded PEG at 0.33, among 4 of 6 companies that pass the metric’s comparability rules.

How much history does this Tobacco comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies
6
complete canonical membership
Combined market value
$575.0B
Philip Morris International Inc.
Revenue growing
3/4
positive TTM year-on-year growth
Beating S&P 500
2/6
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Philip Morris International Inc. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 86.2% evidence confidence.
Universal Corporation looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Philip Morris International Inc. · PM

70.7/100 · Favorable setup · 86% evidence

Exact sum: 21.9 + 13.8 + 15 + 20 = 70.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.9/35Growth & earnings

Revenue 8.1% · PAT 54.5% · OPM change 0.3 pp

95% evidence

13.8/25Capital efficiency

ROCE 9.4% · debt/equity 1.41×

80% evidence

15.0/20Valuation

P/E 23.3× · PEG 0.5

65% evidence

20.0/20Relative strength

RS sector 20.3% · RS bench 10.1% · 1Y 22.8%

100% evidence

2. Altria Group, Inc. · MO

63.8/100 · Mixed-positive evidence · 86% evidence

Exact sum: 18.6 + 14 + 15.7 + 15.5 = 63.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.6/35Growth & earnings

Revenue 0.7% · PAT -21.1% · OPM change 22.5 pp

95% evidence

14.0/25Capital efficiency

ROCE 11.5% · debt/equity 8.67×

80% evidence

15.7/20Valuation

P/E 13.8× · PEG 0.4

65% evidence

15.5/20Relative strength

RS sector 15.6% · RS bench 5.9% · 1Y 21.1%

100% evidence

3. Turning Point Brands, Inc. · TPB

47.3/100 · Mixed-negative evidence · 80% evidence

Exact sum: 19.2 + 10.6 + 12.7 + 4.8 = 47.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

19.2/35Growth & earnings

Revenue 25.3% · PAT 52.3% · OPM change -11.8 pp

95% evidence

10.6/25Capital efficiency

ROCE 2.1% · debt/equity 0.79×

80% evidence

12.7/20Valuation

P/E 29.5× · PEG 1.02

65% evidence

4.8/20Relative strength

RS sector -15% · RS bench -22.7% · 1Y -0.3%

70% evidence

4. Universal Corporation · UVV

33.3/100 · Adverse evidence · 80% evidence

Exact sum: 2.9 + 7.5 + 13.5 + 9.4 = 33.3

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

2.9/35Growth & earnings

Revenue -0.8% · PAT -50.4% · OPM change -8.2 pp

95% evidence

7.5/25Capital efficiency

ROCE -0.7% · debt/equity 0.64×

80% evidence

13.5/20Valuation

P/E 40.5× · PEG 0.33

65% evidence

9.4/20Relative strength

RS sector 3.8% · RS bench -5.2% · 1Y 1.4%

70% evidence

5. British American Tobacco p.l.c. · BTI

55.6/100 · Thin evidence · provisional · 40% evidence

Exact sum: 18.4 + 10.2 + 11.5 + 15.5 = 55.6

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

18.4/35Growth & earnings

Revenue — · PAT — · OPM change —

16% evidence

10.2/25Capital efficiency

ROCE 2.5% · debt/equity —

46% evidence

11.5/20Valuation

P/E 12.1× · PEG —

15% evidence

15.5/20Relative strength

RS sector 9.2% · RS bench -0.1% · 1Y 14.6%

100% evidence

6. AIR Global PLC · AIIR

43.0/100 · Thin evidence · provisional · 14% evidence

Exact sum: 17.5 + 12.5 + 10 + 3 = 43

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

17.5/35Growth & earnings

Revenue — · PAT — · OPM change —

0% evidence

12.5/25Capital efficiency

ROCE — · debt/equity —

0% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

3.0/20Relative strength

RS sector -36.8% · RS bench -42.6% · 1Y -43.1%

70% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Philip Morris International Inc. has the highest Revenue among the 6 Tobacco companies compared here, at $41,493 million. Altria Group, Inc. is next at $20,378 million. Turning Point Brands, Inc. has the highest Revenue growth at 25.3%, so level and change sit with different companies. 4 of 6 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Philip Morris International Inc. is the scale leader at $41,493 million, 103.6% ahead of Altria Group, Inc.. Turning Point Brands, Inc.'s growth is 25.3% from a $481 million base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderPhilip Morris International Inc. · $41,493 million
Gap103.6% versus #2 · Altria Group, Inc.
Persistence8/8 recent comparable periods
Coverage4/6 companies · 90 observations

Investor read: Philip Morris International Inc. is the scale benchmark; Turning Point Brands, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Philip Morris International Inc.'s growth falls below Turning Point Brands, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Philip Morris International Inc. PM$41.5B
2Altria Group, Inc. MO$20.4B
3Universal Corporation UVV$2.9B
4Turning Point Brands, Inc. TPB$481M
Revenue growthfastest growers
1Turning Point Brands, Inc. TPB25%
2Philip Morris International Inc. PM8.1%
3Altria Group, Inc. MO0.7%
4Universal Corporation UVV-0.8%
Revenue · company comparison
4/6 level · 4/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
British American Tobacco p.l.c. BTI$13.5B0.1%Dec 2025
Philip Morris International Inc. PM$10.1B9.1%Mar 2026
Altria Group, Inc. MO$4.8B5.3%Mar 2026
Universal Corporation UVV$715M1.9%Mar 2026
Turning Point Brands, Inc. TPB$124M17%Mar 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Altria Group, Inc. · MO

$5.6B
$5.5B
$5.1B
$4.8B
$5.4B
$5.4B
$5.1B
$4.8B
$5.4B
$5.3B
$5.0B
$4.7B
$5.3B
$5.3B
$5.1B
$4.5B
$5.3B
$5.3B
$5.1B
$4.8B

British American Tobacco p.l.c. · BTI

$12.2B
—
$13.5B
—
$12.9B
—
$14.8B
—
$13.4B
—
$13.8B
—
$12.3B
—
$13.5B
—
$12.1B
—
$13.5B
—

Philip Morris International Inc. · PM

$7.6B
$8.1B
$8.1B
$7.7B
$7.8B
$8.0B
$8.2B
$8.0B
$9.0B
$9.1B
$9.0B
$8.8B
$9.5B
$9.9B
$9.7B
$9.3B
$10.1B
$10.8B
$10.4B
$10.1B

Turning Point Brands, Inc. · TPB

$123M
$110M
$105M
$101M
$103M
$108M
$103M
$101M
$106M
$102M
$97M
$83M
$93M
$91M
$94M
$106M
$117M
$119M
$121M
$124M

Universal Corporation · UVV

$350M
$454M
$653M
$647M
$430M
$651M
$795M
$694M
$518M
$638M
$822M
$771M
$597M
$711M
$937M
$702M
$594M
$754M
$861M
$715M

Revenue growth · reported quarter history

Altria Group, Inc. · MO

—
—
—
—
-4.3%
-2.2%
-0.1%
-1.2%
1.2%
-2.5%
-1.2%
-1.0%
-3.0%
1.3%
1.6%
-4.2%
0.3%
-1.7%
-0.5%
5.3%

British American Tobacco p.l.c. · BTI

-0.8%
—
0.0%
—
5.7%
—
9.5%
—
4.4%
—
-6.4%
—
-8.2%
—
-2.3%
—
-2.2%
—
0.1%
—

Philip Morris International Inc. · PM

—
—
—
—
3.1%
-1.1%
0.6%
3.5%
14%
14%
11%
9.7%
5.6%
8.4%
7.3%
5.8%
7.1%
9.4%
6.8%
9.1%

Turning Point Brands, Inc. · TPB

—
—
—
—
-16%
-1.8%
-1.9%
0.0%
2.9%
-5.6%
-5.8%
-18%
-12%
-11%
-3.1%
28%
26%
31%
29%
17%

Universal Corporation · UVV

—
—
—
—
23%
43%
22%
7.3%
20%
-2.0%
3.4%
11%
15%
11%
14%
-9.0%
-0.5%
6.1%
-8.1%
1.9%
02 · compare level, then change

Operating Economics & Margin Trend

Altria Group, Inc. has the highest OPM among the 6 Tobacco companies compared here, at 62.1%. Philip Morris International Inc. is next at 38.4%. The same company also holds the highest Margin change, at +22.5 percentage points. 4 of 6 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Altria Group, Inc. leads both opm at 62.1% and margin change at +22.5 percentage points.

LeaderAltria Group, Inc. · 62.1%
Gap61.7% versus #2 · Philip Morris International Inc.
Persistence5/8 recent comparable periods
Coverage4/6 companies · 80 observations

Investor read: Altria Group, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Altria Group, Inc. MO62%
2Philip Morris International Inc. PM38%
3Turning Point Brands, Inc. TPB10%
4Universal Corporation UVV-2.1%
Margin changefastest expanders
1Altria Group, Inc. MO+22.5 pp
2Philip Morris International Inc. PM+0.3 pp
3Universal Corporation UVV−8.2 pp
4Turning Point Brands, Inc. TPB−11.8 pp
Operating margin · company comparison
4/6 level · 4/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyOPMMargin changeReported
Altria Group, Inc. MO62%+22.5 ppMar 2026
Philip Morris International Inc. PM38%+0.3 ppMar 2026
Turning Point Brands, Inc. TPB10%−11.8 ppMar 2026
Universal Corporation UVV-2.1%−8.2 ppMar 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Altria Group, Inc. · MO

57%
53%
54%
60%
58%
58%
55%
58%
53%
59%
56%
57%
48%
59%
56%
40%
61%
62%
33%
62%

Philip Morris International Inc. · PM

41%
43%
36%
43%
39%
37%
36%
34%
21%
37%
32%
35%
36%
37%
34%
38%
37%
39%
33%
38%

Turning Point Brands, Inc. · TPB

20%
20%
18%
19%
18%
18%
18%
18%
20%
20%
25%
23%
25%
23%
19%
22%
23%
22%
17%
10%

Universal Corporation · UVV

3.0%
6.6%
9.6%
8.8%
3.1%
5.8%
9.8%
7.5%
2.1%
8.7%
11%
8.8%
2.9%
9.7%
11%
6.1%
5.7%
9.0%
9.5%
-2.1%

Margin change · reported quarter history

Altria Group, Inc. · MO

—
—
—
—
+1.0 pp
+4.1 pp
+1.7 pp
−1.9 pp
−4.4 pp
+1.0 pp
+0.3 pp
−1.2 pp
−5.4 pp
+0.5 pp
+0.7 pp
−17.1 pp
+13.1 pp
+2.5 pp
−23.9 pp
+22.5 pp

Philip Morris International Inc. · PM

—
—
—
—
−2.2 pp
−5.5 pp
−0.5 pp
−8.5 pp
−17.8 pp
−0.1 pp
−4.0 pp
+0.5 pp
+15.2 pp
0.0 pp
+1.7 pp
+3.5 pp
+0.2 pp
+2.4 pp
−1.0 pp
+0.3 pp

Turning Point Brands, Inc. · TPB

—
—
—
—
−2.7 pp
−2.0 pp
−0.1 pp
−1.4 pp
+1.9 pp
+1.5 pp
+7.4 pp
+5.5 pp
+5.0 pp
+3.0 pp
−6.0 pp
−1.4 pp
−1.9 pp
−1.1 pp
−2.6 pp
−11.8 pp

Universal Corporation · UVV

—
—
—
—
+0.1 pp
−0.8 pp
+0.2 pp
−1.3 pp
−1.0 pp
+2.9 pp
+0.8 pp
+1.3 pp
+0.8 pp
+1.0 pp
+0.5 pp
−2.7 pp
+2.8 pp
−0.7 pp
−1.6 pp
−8.2 pp
03 · compare level, then change

Profit Scale & Acceleration

Philip Morris International Inc. has the highest Net profit among the 6 Tobacco companies compared here, at $11,496 million. Altria Group, Inc. is next at $8,053 million. The same company also holds the highest Profit growth, at 54.5%. 4 of 6 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Philip Morris International Inc. leads with $11,496 million of TTM profit, 42.8% above Altria Group, Inc.. Philip Morris International Inc. shows 54.5% growth from a $11,496 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderPhilip Morris International Inc. · $11,496 million
Gap42.8% versus #2 · Altria Group, Inc.
Persistence7/8 recent comparable periods
Coverage4/6 companies · 90 observations

Investor read: Philip Morris International Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Philip Morris International Inc. PM$11.5B
2Altria Group, Inc. MO$8.1B
3Turning Point Brands, Inc. TPB$67M
4Universal Corporation UVV$56M
Profit growthfastest growers
1Philip Morris International Inc. PM55%
2Turning Point Brands, Inc. TPB52%
3Altria Group, Inc. MO-21%
4Universal Corporation UVV-50%
Net profit · company comparison
4/6 level · 4/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyNet profitProfit growthReported
British American Tobacco p.l.c. BTI$3.2B0.1%Dec 2025
Philip Morris International Inc. PM$3.0B13%Mar 2026
Altria Group, Inc. MO$2.2B103%Mar 2026
Turning Point Brands, Inc. TPB$14M-13%Mar 2026
Universal Corporation UVV$-35M-350%Mar 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Altria Group, Inc. · MO

$2.2B
$-2.7B
$1.6B
$2.0B
$891M
$224M
$2.7B
$1.8B
$2.1B
$2.2B
$2.1B
$2.1B
$3.8B
$2.3B
$3.0B
$1.1B
$2.4B
$2.4B
$1.1B
$2.2B

British American Tobacco p.l.c. · BTI

$3.3B
—
$3.6B
—
$1.9B
—
$4.9B
—
$4.0B
—
$-18.2B
—
$4.6B
—
$-1.4B
—
$4.6B
—
$3.2B
—

Philip Morris International Inc. · PM

$2.3B
$2.5B
$2.2B
$2.5B
$2.3B
$2.2B
$2.3B
$2.1B
$1.0B
$2.1B
$2.3B
$2.1B
$2.4B
$2.7B
$-271M
$2.6B
$2.8B
$3.3B
$2.5B
$3.0B

Turning Point Brands, Inc. · TPB

$15M
$13M
$11M
$11M
$5M
$11M
$-16M
$7M
$10M
$11M
$10M
$12M
$13M
$12M
$3M
$16M
$17M
$24M
$12M
$14M

Universal Corporation · UVV

$4M
$22M
$44M
$34M
$3M
$19M
$51M
$57M
$-5M
$31M
$61M
$46M
$-3M
$34M
$68M
$14M
$14M
$35M
$42M
$-35M

Profit growth · reported quarter history

Altria Group, Inc. · MO

—
—
—
—
-59%
—
66%
-8.8%
138%
867%
-23%
19%
80%
5.9%
48%
-49%
-37%
3.6%
-63%
103%

British American Tobacco p.l.c. · BTI

-5.9%
—
20%
—
-42%
—
35%
—
108%
—
-471%
—
13%
—
—
—
0.1%
—
—
—

Philip Morris International Inc. · PM

—
—
—
—
1.6%
-13%
7.5%
-19%
-55%
-6.0%
-2.1%
0.2%
128%
31%
-112%
28%
17%
20%
—
13%

Turning Point Brands, Inc. · TPB

—
—
—
—
-67%
-15%
-245%
-36%
100%
0.0%
—
71%
30%
9.1%
-70%
33%
31%
100%
300%
-13%

Universal Corporation · UVV

—
—
—
—
-25%
-14%
16%
68%
-267%
63%
20%
-19%
—
9.7%
11%
-70%
—
2.9%
-38%
-350%
04 · compare level, then change

Capacity Spending & Returns On It

British American Tobacco p.l.c. has the highest CAPEX among the 6 Tobacco companies compared here, at $448 million. Philip Morris International Inc. is next at $353 million. Turning Point Brands, Inc. has the highest CAPEX intensity at 4%, so level and change sit with different companies. 5 of 6 companies report a comparable reading, the latest through Dec 2025.

What the numbers say: British American Tobacco p.l.c. reports $448 million of CAPEX; Turning Point Brands, Inc. has the highest covered intensity at 4%. Coverage is only 5 of 6 companies and 90 reported observations, so this is partial evidence—not a complete sector rank.

LeaderBritish American Tobacco p.l.c. · $448 million
Gap26.9% versus #2 · Philip Morris International Inc.
Persistence8/8 recent comparable periods
Coverage5/6 companies · 90 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
CAPEXlargest spenders
1British American Tobacco p.l.c. BTI$448M
2Philip Morris International Inc. PM$353M
3Altria Group, Inc. MO$93M
4Universal Corporation UVV$9M
5Turning Point Brands, Inc. TPB$5M
CAPEX intensityhighest reinvestment intensity
1Turning Point Brands, Inc. TPB4.0%
2Philip Morris International Inc. PM3.5%
3British American Tobacco p.l.c. BTI3.3%
4Altria Group, Inc. MO2.0%
5Universal Corporation UVV1.3%
Capital expenditure · company comparison
5/6 level · 5/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyCAPEXCAPEX intensityReported
British American Tobacco p.l.c. BTI$448M3.3%Dec 2025
Philip Morris International Inc. PM$353M3.5%Mar 2026
Altria Group, Inc. MO$93M2.0%Mar 2026
Universal Corporation UVV$9M1.3%Mar 2026
Turning Point Brands, Inc. TPB$5M4.0%Mar 2026
Full 20-quarter history · every available company

CAPEX · reported quarter history

Altria Group, Inc. · MO

$27M
$49M
$67M
$45M
$38M
$64M
$58M
$55M
$48M
$40M
$53M
$35M
$29M
$31M
$47M
$38M
$32M
$54M
$92M
$93M

British American Tobacco p.l.c. · BTI

$129M
—
$398M
—
$99M
—
$424M
—
$110M
—
$350M
—
$116M
—
$370M
—
$103M
—
$448M
—

Philip Morris International Inc. · PM

$128M
$152M
$289M
$229M
$249M
$252M
$347M
$279M
$360M
$371M
$311M
$417M
$370M
$379M
$278M
$404M
$356M
$365M
$444M
$353M

Turning Point Brands, Inc. · TPB

$1M
$2M
$2M
$3M
$3M
$1M
$1M
$2M
$1M
$1M
$2M
$0M
$2M
$1M
$1M
$2M
$4M
$4M
$3M
$5M

Universal Corporation · UVV

$14M
$4M
$21M
$13M
$15M
$12M
$13M
$15M
$18M
$15M
$15M
$18M
$23M
$16M
$16M
$8M
$12M
$9M
$19M
$9M

CAPEX intensity · reported quarter history

Altria Group, Inc. · MO

0.5%
0.9%
1.3%
0.9%
0.7%
1.2%
1.1%
1.2%
0.9%
0.8%
1.1%
0.7%
0.5%
0.6%
0.9%
0.8%
0.6%
1.0%
1.8%
2.0%

British American Tobacco p.l.c. · BTI

1.1%
—
2.9%
—
0.8%
—
2.9%
—
0.8%
—
2.5%
—
0.9%
—
2.7%
—
0.9%
—
3.3%
—

Philip Morris International Inc. · PM

1.7%
1.9%
3.6%
3.0%
3.2%
3.1%
4.3%
3.5%
4.0%
4.1%
3.4%
4.7%
3.9%
3.8%
2.9%
4.3%
3.5%
3.4%
4.3%
3.5%

Turning Point Brands, Inc. · TPB

0.8%
1.8%
1.9%
3.0%
2.9%
0.9%
1.0%
2.0%
0.9%
1.0%
2.1%
0.0%
2.2%
1.1%
1.1%
1.9%
3.4%
3.4%
2.5%
4.0%

Universal Corporation · UVV

4.0%
0.9%
3.2%
2.0%
3.5%
1.8%
1.6%
2.2%
3.5%
2.4%
1.8%
2.3%
3.9%
2.3%
1.7%
1.1%
2.0%
1.2%
2.2%
1.3%
Annual capital allocation · 5-year view
5/6 capacity base · 5/6 OCF · 5/6 CAPEX · 5/6 FCF

Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.

Full annual capacity base, operating cash flow, CAPEX and free cash flow history

Capacity base · net fixed assets + CWIP · fiscal-year history

Operating cash flow · fiscal-year history

CAPEX · reported cash flow · fiscal-year history

Free cash flow · fiscal-year history

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

Turning Point Brands, Inc. has the lowest Gross debt among the 6 Tobacco companies compared here, at $305 million. Universal Corporation is next at $940 million. The same company also holds the lowest Net debt, at $113 million. 4 of 6 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Turning Point Brands, Inc. has the clearest covered balance-sheet capacity with $113 million and gross debt of $305 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderTurning Point Brands, Inc. · $305 million
Gap67.6% versus #2 · Universal Corporation
Persistence0/8 recent comparable periods
Coverage4/6 companies · 80 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Turning Point Brands, Inc. TPB$305M
2Universal Corporation UVV$940M
3Altria Group, Inc. MO$24.6B
4Philip Morris International Inc. PM$51.9B
Net debtlowest net debt
1Turning Point Brands, Inc. TPB$113M
2Universal Corporation UVV$878M
3Altria Group, Inc. MO$21.1B
4Philip Morris International Inc. PM$46.5B
Debt and balance-sheet capacity · company comparison
4/6 level · 4/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGross debtNet debtReported
Philip Morris International Inc. PM$51.9B$46.5BMar 2026
Altria Group, Inc. MO$24.6B$21.1BMar 2026
Universal Corporation UVV$940M$878MMar 2026
Turning Point Brands, Inc. TPB$305M$113MMar 2026
Full 20-quarter history · every available company

Gross debt · reported quarter history

Altria Group, Inc. · MO

$28.2B
$28.1B
$28.0B
$27.9B
$27.7B
$26.3B
$26.7B
$25.4B
$27.2B
$25.1B
$26.2B
$25.0B
$25.0B
$25.2B
$24.9B
$26.1B
$24.7B
$25.7B
$25.7B
$24.6B

Philip Morris International Inc. · PM

$29.2B
$29.1B
$27.8B
$29.4B
$28.1B
$27.2B
$43.1B
$8.7B
$47.9B
$47.7B
$47.9B
$50.4B
$49.1B
$49.2B
$45.7B
$51.5B
$51.5B
$50.1B
$48.8B
$51.9B

Turning Point Brands, Inc. · TPB

$445M
$435M
$428M
$427M
$427M
$427M
$417M
$404M
$389M
$375M
$375M
$375M
$375M
$257M
$258M
$302M
$301M
$303M
$304M
$305M

Universal Corporation · UVV

$700M
$735M
$803M
$741M
$1.0B
$1.1B
$1.0B
$849M
$1.0B
$952M
$1.0B
$1.1B
$1.2B
$1.2B
$1.2B
$1.1B
$1.3B
$1.2B
$1.1B
$940M

Net debt · reported quarter history

Altria Group, Inc. · MO

$26.4B
$25.2B
$23.5B
$22.6B
$25.1B
$23.8B
$22.7B
$21.5B
$26.3B
$23.6B
$22.5B
$21.4B
$23.2B
$23.3B
$21.8B
$21.3B
$23.4B
$22.2B
$21.2B
$21.1B

Philip Morris International Inc. · PM

$24.2B
$24.6B
$23.3B
$24.7B
$23.0B
$21.9B
$39.9B
$6.3B
$44.4B
$44.7B
$44.8B
$46.4B
$44.3B
$45.0B
$41.5B
$47.3B
$47.3B
$46.0B
$44.0B
$46.5B

Turning Point Brands, Inc. · TPB

$288M
$304M
$300M
$301M
$320M
$321M
$311M
$299M
$288M
$279M
$258M
$244M
$233M
$223M
$212M
$202M
$191M
$102M
$81M
$113M

Universal Corporation · UVV

$615M
$634M
$704M
$659M
$926M
$1.1B
$932M
$784M
$930M
$852M
$941M
$1.0B
$1.1B
$1.1B
$972M
$844M
$1.1B
$1.1B
$1.0B
$878M
06 · compare level, then change

Return On Capital Employed

Altria Group, Inc. has the highest ROCE among the 6 Tobacco companies compared here, at 11.5%. Philip Morris International Inc. is next at 9.4%. The same company also holds the highest ROCE change, at +4.4 percentage points. 5 of 6 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Altria Group, Inc. leads ROCE at 11.5%, 2.1 percentage points above Philip Morris International Inc.. Altria Group, Inc. has the strongest latest improvement at +4.4 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderAltria Group, Inc. · 11.5%
Gap22.3% versus #2 · Philip Morris International Inc.
Persistence5/8 recent comparable periods
Coverage5/6 companies · 95 observations

Investor read: Altria Group, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Altria Group, Inc. MO12%
2Philip Morris International Inc. PM9.4%
3British American Tobacco p.l.c. BTI2.5%
4Turning Point Brands, Inc. TPB2.1%
5Universal Corporation UVV-0.7%
ROCE changefastest improvers
1Altria Group, Inc. MO+4.4 pp
2British American Tobacco p.l.c. BTI+3.2 pp
3Philip Morris International Inc. PM+0.9 pp
4Turning Point Brands, Inc. TPB−2.6 pp
5Universal Corporation UVV−2.6 pp
Return on capital · company comparison
5/6 level · 5/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyROCEROCE changeReported
Altria Group, Inc. MO12%+4.4 ppMar 2026
Philip Morris International Inc. PM9.4%+0.9 ppMar 2026
British American Tobacco p.l.c. BTI2.5%+3.2 ppDec 2025
Turning Point Brands, Inc. TPB2.1%−2.6 ppMar 2026
Universal Corporation UVV-0.7%−2.6 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Altria Group, Inc. · MO

—
8.5%
7.9%
8.5%
9.3%
11%
9.5%
9.7%
11%
12%
10%
10%
9.7%
12%
11%
7.1%
12%
12%
6.3%
12%

British American Tobacco p.l.c. · BTI

1.9%
2.2%
2.2%
1.4%
1.4%
2.7%
2.7%
2.2%
2.2%
-9.1%
-9.1%
1.8%
1.8%
-0.7%
-0.7%
2.6%
2.6%
2.5%
2.5%
—

Philip Morris International Inc. · PM

—
15%
13%
14%
14%
14%
10%
7.7%
6.4%
11%
7.9%
6.6%
8.4%
8.6%
8.4%
8.5%
8.9%
10%
8.2%
9.4%

Turning Point Brands, Inc. · TPB

—
4.5%
3.7%
3.4%
3.2%
3.5%
3.4%
3.3%
3.8%
3.9%
4.9%
3.9%
4.8%
4.6%
3.9%
4.7%
5.5%
4.6%
3.5%
2.1%

Universal Corporation · UVV

—
1.5%
3.1%
2.8%
0.7%
1.9%
3.7%
2.5%
0.5%
2.6%
4.0%
3.1%
0.8%
3.2%
4.7%
1.9%
1.5%
3.0%
3.7%
-0.7%

ROCE change · reported quarter history

Altria Group, Inc. · MO

—
—
—
—
—
+2.4 pp
+1.6 pp
+1.2 pp
+1.5 pp
+1.0 pp
+0.6 pp
+0.3 pp
−1.1 pp
+0.2 pp
+0.6 pp
−2.9 pp
+2.7 pp
+0.1 pp
−4.4 pp
+4.4 pp

British American Tobacco p.l.c. · BTI

—
—
—
—
−0.5 pp
+0.5 pp
+0.5 pp
+0.8 pp
+0.8 pp
−11.8 pp
−11.8 pp
−0.4 pp
−0.4 pp
+8.4 pp
+8.4 pp
+0.8 pp
+0.8 pp
+3.2 pp
+3.2 pp
—

Philip Morris International Inc. · PM

—
—
—
—
—
−1.0 pp
−2.1 pp
−6.7 pp
−7.1 pp
−2.6 pp
−2.5 pp
−1.1 pp
+2.0 pp
−2.4 pp
+0.5 pp
+1.9 pp
+0.5 pp
+1.6 pp
−0.2 pp
+0.9 pp

Turning Point Brands, Inc. · TPB

—
—
—
—
—
−1.0 pp
−0.3 pp
−0.1 pp
+0.6 pp
+0.4 pp
+1.5 pp
+0.6 pp
+1.0 pp
+0.7 pp
−1.0 pp
+0.8 pp
+0.7 pp
0.0 pp
−0.4 pp
−2.6 pp

Universal Corporation · UVV

—
—
—
—
—
+0.4 pp
+0.6 pp
−0.3 pp
−0.2 pp
+0.7 pp
+0.3 pp
+0.6 pp
+0.3 pp
+0.6 pp
+0.7 pp
−1.2 pp
+0.7 pp
−0.2 pp
−1.0 pp
−2.6 pp
07 · compare level, then change

Valuation Against Growth & Quality

Universal Corporation has the lowest Guarded PEG among the 6 Tobacco companies compared here, at 0.33×. Altria Group, Inc. is next at 0.4×. British American Tobacco p.l.c. has the lowest P/E at 12.1×, so level and change sit with different companies. 4 of 6 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Universal Corporation has the lowest comparable Guarded PEG at 0.33×, 17.5% below Altria Group, Inc.. Only 4 of 6 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderUniversal Corporation · 0.33×
Gap17.5% versus #2 · Altria Group, Inc.
Persistence0/8 recent comparable periods
Coverage4/6 companies · 15 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Universal Corporation UVV0.3
2Altria Group, Inc. MO0.4
3Philip Morris International Inc. PM0.5
4Turning Point Brands, Inc. TPB1.0
P/Elowest P/E
1British American Tobacco p.l.c. BTI12.1
2Altria Group, Inc. MO13.8
3Philip Morris International Inc. PM23.3
4Turning Point Brands, Inc. TPB29.5
5Universal Corporation UVV40.5
Valuation · company comparison
4/6 level · 5/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGuarded PEGP/EReported
Turning Point Brands, Inc. TPB1.029.5Mar 2026
Philip Morris International Inc. PM0.523.3Mar 2026
Altria Group, Inc. MO0.413.8Mar 2026
Universal Corporation UVV0.340.5Mar 2026
British American Tobacco p.l.c. BTI—12.1Dec 2025
Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Altria Group, Inc. · MO

—
—
—
—
—
—
—
—
—
—
0.2
0.2
0.2
0.4
0.2
0.4
—
—
—
—

Philip Morris International Inc. · PM

—
—
—
—
—
—
—
—
—
—
—
—
1.9
0.9
—
—
—
—
—
0.5

Turning Point Brands, Inc. · TPB

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
2.7
0.7
1.0

Universal Corporation · UVV

—
—
—
—
—
—
—
0.3
—
0.3
0.3
—
—
—
—
—
—
—
—
—

P/E · reported quarter history

Altria Group, Inc. · MO

—
30.8
35.4
31.9
43.1
15.7
14.3
14.4
11.9
8.6
8.8
9.1
7.9
8.6
8.0
10.1
11.3
12.6
14.0
13.8

British American Tobacco p.l.c. · BTI

10.5
9.3
9.4
12.1
15.0
12.1
11.3
8.4
6.8
—
—
—
—
—
21.3
23.3
24.8
16.2
12.1
—

Philip Morris International Inc. · PM

—
16.5
16.3
16.3
17.0
14.8
17.4
17.4
18.9
18.0
18.7
17.9
17.9
19.3
26.6
32.7
34.6
29.4
22.1
23.3

Turning Point Brands, Inc. · TPB

—
18.2
15.0
13.6
13.1
10.5
12.4
55.3
39.4
39.1
13.1
12.9
13.3
17.1
28.1
26.1
31.7
34.8
34.9
29.5

Universal Corporation · UVV

—
12.2
13.7
16.7
17.4
12.9
13.7
10.6
10.8
9.7
12.7
10.8
9.9
11.1
10.9
14.8
14.2
12.6
15.6
40.5
08 · compare level, then change

Enterprise Value & Book Value

British American Tobacco p.l.c. has the lowest EV/EBITDA among the 6 Tobacco companies compared here, at 9.51×. Universal Corporation is next at 10.1×. Universal Corporation has the lowest P/BV at 0.93×, so level and change sit with different companies. 5 of 6 companies report a comparable reading, the latest through Dec 2025.

What the numbers say: British American Tobacco p.l.c. leads ev/ebitda at 9.51×; Universal Corporation leads p/bv at 0.93×.

LeaderBritish American Tobacco p.l.c. · 9.51×
Gap5.8% versus #2 · Universal Corporation
Persistence0/8 recent comparable periods
Coverage5/6 companies · 91 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1British American Tobacco p.l.c. BTI9.5
2Universal Corporation UVV10.1
3Altria Group, Inc. MO11.6
4Philip Morris International Inc. PM17.7
5Turning Point Brands, Inc. TPB19.6
P/BVlowest P/BV
1Universal Corporation UVV0.9
2British American Tobacco p.l.c. BTI2.1
3Turning Point Brands, Inc. TPB4.6
Enterprise and book valuation · company comparison
5/6 level · 3/6 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyEV/EBITDAP/BVReported
Turning Point Brands, Inc. TPB19.64.6Mar 2026
Philip Morris International Inc. PM17.7-27.8Mar 2026
Altria Group, Inc. MO11.6-34.3Mar 2026
Universal Corporation UVV10.10.9Mar 2026
British American Tobacco p.l.c. BTI9.52.1Dec 2025
Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Altria Group, Inc. · MO

—
9.3
9.3
9.9
8.4
8.0
8.6
8.4
9.1
8.3
7.9
8.2
8.9
9.6
9.6
11.5
10.8
11.7
11.6
11.6

British American Tobacco p.l.c. · BTI

9.6
9.4
8.7
11.4
12.8
11.0
9.2
8.5
7.4
—
7.0
—
—
—
13.0
22.7
22.9
15.1
9.5
—

Philip Morris International Inc. · PM

—
12.5
12.3
12.5
13.9
12.4
15.0
13.5
17.1
16.4
14.9
14.3
14.2
16.0
15.2
18.8
20.7
18.0
17.5
17.7

Turning Point Brands, Inc. · TPB

—
12.3
10.5
10.2
9.7
8.6
8.9
8.4
8.7
8.3
8.3
8.4
8.7
10.6
14.8
14.0
16.5
20.0
21.2
19.6

Universal Corporation · UVV

—
8.7
9.7
10.0
11.3
9.9
9.4
8.9
9.3
8.0
10.0
8.3
8.2
8.3
7.5
7.8
8.4
8.3
8.5
10.1

P/BV · reported quarter history

Altria Group, Inc. · MO

—
-66.0
-53.8
-54.5
-31.3
-17.1
-20.5
-20.6
-21.1
-21.8
-20.1
-14.7
-25.8
-25.0
-39.5
-28.8
-30.3
-41.9
-27.6
-34.3

British American Tobacco p.l.c. · BTI

1.0
0.9
1.0
1.0
1.1
1.0
1.0
0.9
0.8
1.1
1.1
1.1
1.2
1.4
1.3
1.6
1.7
1.9
2.1
—

Philip Morris International Inc. · PM

—
-14.0
-14.6
-14.4
-16.9
-14.1
-17.5
—
-15.6
-15.2
-13.0
-13.8
-16.2
-19.5
-15.9
-20.7
-23.7
-23.1
-25.0
-27.8

Turning Point Brands, Inc. · TPB

—
6.5
3.9
4.8
3.9
2.9
3.4
3.1
3.3
2.9
3.1
3.2
3.3
4.1
5.7
5.3
6.3
5.5
5.9
4.6

Universal Corporation · UVV

—
0.9
1.0
1.1
1.1
0.9
1.0
0.9
0.9
0.8
1.2
0.9
0.8
0.9
0.9
1.0
1.0
1.0
0.9
0.9
09 · let price answer last

Market action

Philip Morris International Inc. has the strongest one-year price move in Tobacco at +22.8%. It also leads on Mansfield relative strength against the S&P 500 at +10.1%. 2 of 6 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Tobacco comparison names 4 specific ways its own evidence can mislead, all listed below. All 6 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
10 · the complete set

Which companies are included?

All 6 companies in the canonical Tobacco membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

CompanyMarket valuePricePriced toLatest fundamentals
Philip Morris International Inc. PMAHEAD$312.0B$2002026-07-28Mar 2026
British American Tobacco p.l.c. BTI$134.0B$62.32026-07-28Dec 2025
Altria Group, Inc. MO$124.9B$74.82026-07-28Mar 2026
Turning Point Brands, Inc. TPBLAGGING, FUNDAMENTALS UP$1.6B$80.72026-07-28Mar 2026
Universal Corporation UVV$1.4B$54.82026-07-28Mar 2026
AIR Global PLC AIIR$1.1B$6.02026-07-28—
Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 6 Tobacco companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Mar 2026 · up to 20 quarters per company
Market dataThrough 2026-07-28 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Questions investors ask · short, speakable answers

Tobacco company comparison FAQs

These 18 answers restate the Tobacco comparison above in question form. Every one is computed from the same 6 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.

Which Tobacco company is the biggest?

Philip Morris International Inc. is the largest, with trailing-twelve-month revenue of $41,493 million, ahead of Altria Group, Inc. at $20,378 million. That covers 4 of 6 companies with comparable reporting through Mar 2026.

Which Tobacco company is growing fastest?

Turning Point Brands, Inc. has the fastest revenue growth at 25.3% year on year, across 4 of 6 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Tobacco company has the best profit margins?

Altria Group, Inc. has the highest operating margin at 62.1%, from 4 of 6 comparable companies. Altria Group, Inc. shows the biggest recent improvement, at +22.5 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Tobacco company makes the most profit?

Philip Morris International Inc. earns the most, at $11,496 million of trailing-twelve-month net profit, from 4 of 6 comparable companies. Philip Morris International Inc. has the fastest profit growth at 54.5%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Tobacco company earns the highest return on capital?

Altria Group, Inc. leads on return on capital employed at 11.5%, across 5 of 6 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Tobacco stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Universal Corporation screens cheapest at 0.33×. Only 4 of 6 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Tobacco company has the strongest balance sheet?

Turning Point Brands, Inc. carries the lowest comparable gross debt at $305 million, from 4 of 6 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Tobacco company is investing most in new capacity?

British American Tobacco p.l.c. reports the largest capital spending at $448 million, across 5 of 6 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

Is the Tobacco sector beating the market?

Tobacco has underperformed S&P 500 by 12.9% over the last 52 weeks and 5.5% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 6 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Tobacco stock has the strongest price momentum?

Philip Morris International Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Tobacco company scores highest for research priority?

Philip Morris International Inc. scores 70.7 out of 100 with 86.2% evidence confidence, from 21.9 points on growth and earnings, 13.8 on capital efficiency, 15 on valuation and 20 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Tobacco companies does this comparison cover, and over what period?

It compares 6 listed companies over up to 20 reported quarters of fundamentals and 5 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Tobacco sector?

The 6 Tobacco companies on this page carry $574,972 million of combined market value. Philip Morris International Inc. is the largest at $311,988 million, about 54% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

What is the Tobacco sector's P/E ratio?

The median price-to-earnings ratio across the 6 Tobacco companies on this page is 23.3×, measured on the 5 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

How is the Tobacco sector performing?

2 of the 6 covered Tobacco companies are beating S&P 500 on Mansfield relative strength. The sector itself is 12.9% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

How many Tobacco stocks are listed in the US?

This comparison covers 6 listed Tobacco companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Mar 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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