# Philip Morris International Inc. (PM) MD&A by fiscal year

Verbatim Item 7 Management's Discussion and Analysis sections from Philip Morris International Inc.'s 10-K filings, one page per fiscal year. Extracted from SEC filings with the same bounded parser for every year. Filer text, not grepcent analysis or investment advice.

- [FY 2025 MD&A](/company/PM/mda/fy2025/): filed 2026-02-06; accession 0001628280-26-005939 (https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm); latest 10-K
- [FY 2024 MD&A](/company/PM/mda/fy2024/): filed 2025-02-06; accession 0001413329-25-000013 (https://www.sec.gov/Archives/edgar/data/1413329/000141332925000013/pm-20241231.htm)
- [FY 2023 MD&A](/company/PM/mda/fy2023/): filed 2024-02-08; accession 0001413329-24-000013 (https://www.sec.gov/Archives/edgar/data/1413329/000141332924000013/pm-20231231.htm)
- [FY 2022 MD&A](/company/PM/mda/fy2022/): filed 2023-02-10; accession 0001413329-23-000025 (https://www.sec.gov/Archives/edgar/data/1413329/000141332923000025/pm-20221231.htm)
- [FY 2021 MD&A](/company/PM/mda/fy2021/): filed 2022-02-11; accession 0001413329-22-000011 (https://www.sec.gov/Archives/edgar/data/1413329/000141332922000011/pm-20211231.htm)

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