Altria vs Universal
Altria reported revenue of $23.3 billion in fiscal 2025, 8.1 times Universal's $2.9 billion in fiscal 2026. Altria's revenue fell 3.1% in its latest year, and Universal's fell 1.3%. Altria had an operating margin of 42.5%, against 5.8% at Universal. Free cash flow was $9.1 billion at Altria and $80 million at Universal. Their fiscal years end in different months (December 31 and March 31), so the periods don't line up exactly.
Side by side
| Altria | Universal | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, Mar 31, 2026 |
| Revenue | $23.3B | $2.9B |
| Revenue growth | −3.1% | −1.3% |
| Revenue growth a year, last 5 years | −2.3% | 8.0% |
| Gross margin | 62.5% | 16.4% |
| Operating margin | 42.5% | 5.8% |
| Net margin | 29.8% | 1.1% |
| Free cash flow | $9.1B | $80M |
| Free cash flow margin | 39.0% | 2.8% |
| Return on capital | 39.2% | 4.0% |
| Net debt to EBITDA | 2.1x | 3.8x |
| Dividends and buybacks | $8.0B | $81M |
| Change in diluted share count | −2.0% | 0.2% |
| Last close | $73.62 | $38.96 |
| P/E at the last close | 15.5× | 51.3× |
| Insider trades, last 12 months | bought $101,430, sold $2.4 million | sold $496,953 |
| Piotroski F-score | 7 of 9 | 5 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
AltriaUniversal
Operating margin
Percent of revenue
AltriaUniversal
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
AltriaUniversal