Tobacco
Altria Group (MO) delivered a strong Q1 2026 with net income more than doubling to $2.18B (+102.7% YoY) and EPS of $1.30, driven by significant margin expansion, though the company carries negative stockholders' equity and substantial long-term debt of $24.6B.
Key risk: Negative Stockholders' Equity and High Leverage
Altria carries negative stockholders' equity of -$3.21B and long-term debt of $24.6B, resulting in a debt-to-equity ratio of approximately -11.75x. This highly leveraged balance sheet limits financial flexibility and increases vulnerability to rising interest rates or any deterioration in operating cash flows.
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