They have too much debt. Look at the balance sheet. They have net tangible assets of ($13,243,000). This is 13 BILLION not million.
This year they sold 10 billion in debt and plan to make stock buybacks. Dump this POS! Sell Philip Morris
Not much counterfeiting, but stolen and untaxed cigs, yes.
Transportation and sales across state lines is also illegal, but widely done. Each state sets their own state tax on cigs and applies tax stamps to each pack. No stamps = not taxed.
Yesterday I went to the dentist. They asked me to fill out a health status report which I thought was odd but they said they like to update their information every 5 years. So I filled out their questionnaire.
Later they questioned me to see if I may have made a mistake because I had no meds listed nor any medical ailments. I reaffirmed my answers and asked why. They told me less than 5% of their patients respond as I did.
If you don't smoke you're still going to be on these meds but you'll just live longer than smokers. Smokers on average die in their 70s rather than 80s which is good for the social security system. Plus the States and Fed collect billions of dollars per year from tobacco companies.
If I were you you should go after the food industry. I was taught that we are what we eat.
As long as you can health insurance cover the bill completely then smoke yourself to death. Just don't cry to us about your heath care bills and expect the tax payers to cover your costs.
Their average cost of debt is 5.5%
They just issued 10 year bonds at 4.5%
They can borrow to repurchase stock at those rates all day long. You should study all about cost of equity capital vs. cost of debt capital.