Altria Group (MO)
The US tobacco heavyweight behind Marlboro, now leaning into smoke-free nicotine as smoking fades.
Is Altria Group a good stock for a UK beginner?
The honest version: There's no rating here and nothing for sale. In its favour: very high net margin. Worth weighing: structurally declining cigarette volumes over the long run.
Is this normal for this company?
Each figure against the range this same company has produced recently. Neither end of a range is the good end.
Share price divided by the earnings actually reported over the four most recent quarters. The range is the same calculation at each of this company's last few results, so roughly the past year.
Profit as a share of sales, from the company's own quarterly statements. The range covers the 5 quarters we hold, and the figure shown is its most recent one.
How these ranges are built
Every number here is the company's own reported figure, not a comparison with other companies. The ranges come from this company's own results and its share price. Where it reports in a different currency from the one its shares trade in, the price-to-earnings range is left out rather than mixing the two.
What does Altria Group do?
Altria makes most of its money from cigarettes in the US - chiefly Marlboro - in a market where smoker numbers have been shrinking for years. Its trick so far: regular price increases to make up for the falling volume. It's also investing in smoke-free options like oral nicotine pouches and vapes, and has held minority stakes in other businesses, all to offset that long-term cigarette decline. The one thing worth watching -> whether price rises and new products can keep outrunning the drop in smokers.
On our factor screen it looks strongest on quality and value, and weakest on growth.
- ✓Pays a dividend - about 6.5% a year
- ✓Very profitable - turns about 39% of sales into profit
- Value screens high
- Quality screens high
- Growth screens low
Does Altria Group pay a dividend?
Yes - Altria Group currently pays a dividend of about 6.5% a year, which is £65 a year for every £1,000 invested (the yearly payout as a share of the price). A dividend is a slice of profit handed to shareholders; the yield moves as the price moves, and a company can cut or stop it. An ISA doesn't shelter the US tax on this one →
What do the numbers say about Altria Group's dividend?
There's no rating here, and we don't judge whether the dividend will continue - that would be advice. Here are the figures income investors usually look at, and what each one means, so you can weigh it up yourself.
Figures are from the latest available data and can be distorted by one-off results. Past payments don't predict future ones, and a dividend can be cut at any time. This lays out the numbers to help you understand them - it is not a view on what will happen.
Most recent ex-dividend date: 15 Jun 2026. To receive a dividend you must already own the shares before the ex-dividend date; become a holder on or after it and the previous owner keeps that payment. Why the price usually falls that morning →
Does Altria Group have more cash or more debt?
It holds about $2.37B in cash against about $24.58B of debt - so it has net debt of about $22.21B. Debt is not automatically a problem - it funds growth - but it has to be serviced and repaid, which matters more when profits wobble.
From the latest reported balance sheet. Cash and debt levels change, and some borrowing is normal - this is context, not a judgment.
What do Altria Group's numbers mean?
How has it performed?
Growth of £1,000, the worst fall, and year by year
Over about 2 years to 2026-09-11. This is the share price only - reinvesting the dividends would add to it. And it's the USD return - as a UK investor your actual £ return also moves with the exchange rate. Past performance is not a guide to the future, and it could just as easily have fallen.
How much has Altria Group actually fallen?
Over the last 2 years of daily prices, Altria Group fell as much as −19% from a high to a later low. Falls like this are normal when you own a share.
Past falls are not a forecast - it can fall further, or recover.
How has it done year by year?
Calendar-year total return - the share price with dividends reinvested - from adjusted closing prices. The current year is only part-complete. Past returns are not a guide to the future.
A closer look at the numbers
Ownership, earnings history, where the money goes, and the outlook range
Does the share price tell you if it's cheap or expensive?
Who owns Altria Group?
About 63% of Altria Group, or about 63 in every 100 shares, is held by big institutions such as pension and index funds. The rest, roughly 36%, is held by the public and smaller investors.
What this does and doesn't tell you
This is a recent snapshot of the share register, and it moves. We don't read anything into who owns what - a high institutional share is common for any large listed company and is not a signal about it.
Based on beta - how much the price swings versus the whole market. Bumpier isn't bad; it just means a rougher ride, which matters more the sooner you might need the money.
Prices move on results, news and the mood of the whole market - no single headline explains a day, and a quiet week is usually just noise, not a signal.
How much money does Altria Group make?
Revenue and profit by quarter, and how much of each sale turns into profit.
Where does each £100 of Altria Group's sales go?
A rough split of the latest full-year figures: of every £100 of sales, about £13 covers making the product or service, £48 goes on running costs, tax and interest, and about £39 is left as profit. Margins vary a lot by industry, and one-off items can distort a single year.
When does Altria Group report earnings, and how did recent quarters go?
Altria Group is next scheduled to report on about 2026-10-29 - dates can move, and we don't predict results; this just tells you when to look.
‘Beat’ and ‘missed’ are against what analysts expected, not whether the business is doing well.
| Reported | Expected EPS: The earnings per share analysts expected for the quarter - the average of their forecasts. 'Beating' or 'missing' is measured against this number. | Actual EPS | vs expected |
|---|---|---|---|
| 2026-07-30 | $1.50 | $1.48 | Missed -1% |
| 2026-04-30 | $1.25 | $1.32 | Beat +6% |
| 2026-01-29 | $1.32 | $1.30 | Missed -1% |
| 2025-10-30 | $1.45 | $1.45 | In line |
| 2025-07-30 | $1.38 | $1.44 | Beat +4% |
| 2025-04-29 | $1.19 | $1.23 | Beat +4% |
Across the last 6 quarters here, Altria Group came in ahead of what analysts expected 3 times. One quarter is noise, not a trend.
See who else reports over the next two weeks →
Where these figures come from
Each quarter a company reports its results against a consensus of analyst forecasts. The figures here are reported versus expected earnings per share from published results; the expectation is that analyst consensus, not our view. Report dates are estimates and can move.
What are the scenarios for Altria Group?
An illustrative range for the year ahead — not a prediction or a price target.
What are the pros, cons and common questions?
The case each way, and the questions people ask
a successful transition toward smoke-free products creates a durable new growth driver alongside continued dividend payments
accelerating regulation or litigation impairs the core cigarette business faster than new products can offset
What are the pros and cons of Altria Group?
A balance check, not a score or verdict.
- very high net margin: How much of each £1 of sales becomes profit after all costs. Higher = more profitable per sale.
- notably high dividend income
- forward P/E: Like P/E, but using analysts' forecast of NEXT year's profit instead of last year's. A much lower forward figure implies profits are expected to jump. below the trailing figure, implying expectations of somewhat higher near-term earnings
- structurally declining cigarette volumes over the long run
- regulatory and legal overhang typical of the tobacco industry
- revenue growth: How fast the company's sales grew versus a year ago. was not among the strong metrics provided for this company
- tobacco regulation, including flavor or menthol restrictions and nicotine limits
- litigation risk tied to tobacco products
- excise tax increases affecting consumer demand
- long-term secular decline in smoking rates
- reputational and policy-related investment restrictions some funds apply to tobacco
The write-up's own warning lights — if these start happening, the case above changes.
- cigarette volume declines accelerating beyond the historical trend
- a cut to the dividend
- adverse regulatory rulings on flavored or reduced-risk nicotine products
- smoke-free product adoption stalling well short of expectations
Common questions about Altria Group
Does Altria Group pay a dividend?
Yes - Altria Group currently pays a dividend of about 6.5% a year. Dividends are a share of profit paid to holders; the yield moves with the price and payouts can be cut.
When does Altria Group report earnings next?
Altria Group is next scheduled to report results on about 2026-10-29. Report dates are estimates and can move; this is a diary note for when to look, not a forecast of the outcome.
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