Altria Group Inc
MO: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$15.00 | Djxm | Bbh |
Despite Its Single Market Focus and Past Capital Allocation Missteps, Altria Still Dominates the US
Business Strategy and Outlook
Altria offers pureplay tobacco exposure to the US, where cigarette volumes declined 6% per year from 2018 to 2023, faster than the global market’s 1% annual loss, according to Euromonitor. Moreover, excise taxes are constantly increasing and regulations tightening (e.g., the prospective ban of menthol cigarettes).