菲利普莫里斯国际 2025年度报告

For the fiscal year ended December 31, 2025OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromto Commission File Number: 001-33708PHILIP MORRIS INTERNATIONAL INC. (Exact name of registrant as specified in its charter) 13-3435103(I.R.S. EmployerIdentification No.) Virginia(State or other jurisdiction ofincorporation or organization) 677 Washington Blvd, Suite 1100StamfordConnecticut(Address of principal executive offices) 06901(Zip Code) 203-905-2410 (Registrant’s telephone number, including area code) Securities registered pursuant to Section12(b) of the Act: Securities registered pursuant to Section12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☑No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the Act.Yes☐No☑ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)hasbeen subject to such filing requirements for the past 90days.Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files). Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and “emerging growth company” in Rule12b-2 of the Exchange Act. Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No☑ As of June30, 2025, the aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was approximately$283 billion based on the closing sale price of the common stock as reported on the New York Stock Exchange. Outstanding at January 30, 2026 DOCUMENTS INCORPORATED BY REFERENCE PartsIntoWhichIncorporatedPart III Portions of the registrant’s definitive proxy statement for use in connection with its annual meeting ofshareholders to be held on May6, 2026, to be filed with the Securities and Exchange Commission on orabout March 26, 2026. TABLE OF CONTENTS PART IItem1.BusinessItem1A.Risk FactorsItem1B.Unresolved Staff CommentsItem1C.CybersecurityItem2.PropertiesItem3.Legal ProceedingsItem4.Mine Safety Disclosures Item5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities21Item6.[Reserved]24Item7.Management’s Discussion and Analysis of Financial Condition and Results of Operations24Item7A.Quantitative and Qualitative Disclosures About Market Risk65Item8.Financial Statements and Supplementary Data66Item9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure130Item9A.Controls and Procedures130Item9B.Other Information130Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections130 Item10.Directors, Executive Officers and Corporate Governance130Item11.Executive Compensation132Item12.Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters132Item13.Certain Relationships and Related Transactions, and Director Independence133Item14.Principal Accountant Fees and Services133 Signatures In this report, “PMI,” “we,” “us” and “our” refers to Philip Morris International Inc. and its subsidia