International Smoke-Free net revenue growth measures reported net revenue growth in PMI's International Smoke-Free segment.
PMI reported 14.2% growth in International Smoke-Free net revenue for the second quarter of 2026, to $3.877B from $3.395B.
Currency and portfolio effects widened reported growth
Revenue excluding currency and acquisitions or divestitures increased 11.8%, below the reported rate.
That spread shows why reported growth should be separated from the issuer's adjusted operating bridge.
Volume mix and pricing both contributed
PMI attributed the adjusted increase to favorable volume and mix from higher heated tobacco and e-vapor volumes plus favorable heated tobacco pricing.
Compare it with International Smoke-Free revenue growth excluding currency and acquisitions and International Smoke-Free shipment growth.
Primary source: Philip Morris International Q2 2026 Form 10-Q.
Part of the Smoke-Free Portfolio Economics
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These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.
- PMOpen operating-model research →10 of 10 reviewed concepts in Smoke-Free Portfolio EconomicsInternational revenue conversion2 of 2 bridge concepts supportedContinue through this bridge:International Smoke-Free Adjusted Growth
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Compare International Smoke-Free revenue growth
Compare reported segment revenue growth with currency, portfolio, volume-mix, and pricing effects kept explicit.
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