Operating Margin

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Price: 771 EUR 0.52% Market Closed

Market Cap: 2.1B EUR

17%

Declining

by 1.9%

Operating Margin shows how much profit a company makes from its regular business activities after covering operating costs. It helps measure how efficiently the company turns sales into profit.

Operating Margin

17%

Operating Income

Kč3.7B

Revenue

Kč21.9B

Operating Margin shows how much profit a company makes from its regular business activities after covering operating costs. It helps measure how efficiently the company turns sales into profit.

Operating Margin

17%

Operating Income

€3.7B

Revenue

Kč21.9B

Peer Comparison

Country		Company	Market Cap	Operating Margin
CZ	P	Philip Morris CR as PSE:TABAK	36.7B CZK	Loading...
US		Philip Morris International Inc NYSE:PM	270.3B USD	Loading...
UK		British American Tobacco PLC LSE:BATS	95B GBP	Loading...
US		Altria Group Inc NYSE:MO	103.7B USD	Loading...
JP		Japan Tobacco Inc TSE:2914	10.3T JPY	Loading...
IN		ITC Ltd NSE:ITC	4.1T INR	Loading...
UK		Imperial Brands PLC LSE:IMB	24.6B GBP	Loading...
SE	S	Swedish Match AB F:SWMC	15.2B EUR	Loading...
KR		KT&G Corp KRX:033780	15.4T KRW	Loading...
CN		Smoore International Holdings Ltd HKEX:6969	67.6B HKD	Loading...
ID		Hanjaya Mandala Sampoerna Tbk PT IDX:HMSP	89.6T IDR	Loading...

Market Distribution

Min	-206.6%
30th Percentile	12.9%
Median	17%
70th Percentile	24.2%
Max	845.3%

Other Profitability Ratios

Philip Morris CR as
Glance View

Market Cap

2.1B EUR

Industry

Tobacco

Philip Morris ČR a.s. stands as a prominent player in the tobacco industry within the Czech Republic. Founded as a subsidiary of Philip Morris International, this company has built a solid reputation over the years by focusing on the domestic and Slovakian markets. The core of its operations lies in the production and distribution of cigarettes and other nicotine products. Particularly, it capitalizes on the monumental brand power of Marlboro and other well-known labels such as L&M and Philip Morris. The company’s modern factories, notably in Kutná Hora, employ cutting-edge technology to ensure high-quality production standards, efficiently balancing between traditional cigarette production and the rising demand for smokeless alternatives. Their strategic move to include heated tobacco products like IQOS aims to capture a significant share in the evolving landscape of reduced-risk products. Financially, Philip Morris ČR thrives by leveraging its strong market position and optimizing its supply chain efficiency. The company generates revenue predominantly through the sale of its tobacco products, with a diversified portfolio that allows it to adapt to shifting consumer preferences. Its operational strategy is crafted around tapping into traditional retail networks while simultaneously exploring new retail channels to broaden its market reach. By effectively navigating regulatory landscapes and tobacco taxation policies, the company maintains its competitive edge and ensures sustainable profitability. As smoking habits evolve, Philip Morris ČR remains committed to innovation, focusing on alternative products that cater to health-conscious consumers, thereby securing its foothold in both current and future market terrains.

View TBK Analysis

TBK Intrinsic Value

Undervaluation 23%

Intrinsic Value

Price

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

The AI Assistant may sometimes provide inaccurate information.

Make your own investment decisions or consult a licensed financial advisor.

Philip Morris CR as
F:TBK

Peer Comparison

Market Distribution

Other Profitability Ratios

Philip Morris CR as
Glance View

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Philip Morris CR as F:TBK