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Altria cash flow statement

In fiscal 2025, Altria's operations generated $9.29bn of cash; it spent $216m on capital projects, leaving free cash flow of $9.07bn. It returned $6.96bn in dividends and $1.00bn through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations3,4432,7673,6133,9034,3754,6635,8433,8264,9018,3917,8378,3858,4058,2569,2878,7539,2909,422
Depreciation and amortisation291276253225212208225204209227226257244226272286266182
Capital spending273168105124131163229189199238246231169205196142216351
Free cash flow3,1702,5993,5083,7794,2444,5005,6143,6374,7028,1537,5918,1548,2368,0519,0918,6119,0749,071
Dividends paid2,6932,9583,2223,4003,6123,8924,1794,5124,8075,4156,0696,2906,4466,5996,7796,8456,9607,115
Share buybacks001,3271,0826349395541,0302,9171,67384501,6751,8251,0003,4001,0001,023
Shares issued891042900—————————————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Altria's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Altria.