Core Insights - Philip Morris International is transitioning from a traditional cigarette manufacturer to a more diverse brand focusing on smoke-free products, particularly the Zyn oral nicotine pouch [2][8] - The company has shown steady earnings growth, with EPS increasing by 14%, 14%, and 13% year-over-year over the past three quarters [3] - Philip Morris has consistently outperformed Wall Street expectations, beating analyst estimates in 19 of the last 20 quarters [6] Company Overview - Philip Morris International operates in over 180 countries and was spun off from the Altria Group in 2008 [1] - The company is known for its premium cigarette brands, including Marlboro, Parliament, and Virginia Slim [1] Smoke-Free Business Growth - Zyn has captured approximately 75% of the tobacco pouch market, driven by its popularity on social media and appeal to younger consumers [2] - Shipments of Zyn have increased more than fivefold over the past five years, with continued growth anticipated [2] Financial Performance - Philip Morris has demonstrated consistent annual earnings growth over the past three years [3] - The company has a low cost structure and a healthy cash reserve, supporting future growth [7] Stock Performance - The stock has a beta of 0.14, indicating lower volatility compared to the S&P 500, while outperforming over 95% of S&P 500 stocks [4] - Consensus estimates suggest double-digit EPS growth into 2026, indicating positive future performance for shareholders [7]