Philip Morris has been performing relatively well over the last one year. The company has been able to offset the decline in smoking rates in its markets by resorting to price increases, which has also helped Philip Morris maintain its margins. However, the unfavorable currency rates faced by the company has hit its top and bottom line. In the recent past, many companies with a global presence have complained about currency headwinds; but with a company like Philip Morris, that has a 100% global presence, that impact will be massive. Excluding its effect, PM's revenues grew 4% in the fourth quarter of 2015, which is impressive for a company facing immense regulatory pressure and a declining consumer base. However, Philip Morris is also a lot more expensive than it was a year ago. The company is now trading at 22 times trailing earnings, much higher than the 17 times it traded at when the company first went public in 2008.
Philip Morris' stock has performed better than the Indices, but can be considered as average when compared with its major peers.
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