Risk factors

Philip Morris International (PM) risk factors

Item 1A of every Philip Morris International Inc. 10-K on file, and what changed from one year to the next. Readings are automated and can be wrong; check the filing for the exact wording.

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  • FY2025 10-K risk factors
    36 risks7 new6 dropped19 reworded

    Regulatory hurdles and potential product bans threaten smoke-free growth in key markets like the U.S.

    Filed Feb 06, 2026
  • FY2024 10-K risk factors
    35 risks

    Philip Morris faces heavy risks transitioning to smoke-free products amid strict regulation and unpredictable consumer adoption rates.

    Filed Feb 06, 2025