What Altria Does & How It Makes Money (MO)

Updated October 2026 · reflects Altria's latest reported financials

U.S. tobacco company behind Marlboro cigarettes and smokeless products. Altria makes its money by manufacturing tobacco and nicotine products under its own brands and selling them to distributors and large retailers such as chain stores, which then sell to U.S.

Altria's story, moat and numbers — in a 3-minute visual book.

Read the illustrated, narrated story →

How Altria makes money

Altria makes its money by manufacturing tobacco and nicotine products under its own brands and selling them to distributors and large retailers such as chain stores, which then sell to U.S. consumers.

What Altria does

Altria Group is a U.S. tobacco company founded in 1822 and headquartered in Richmond, Virginia. Through its subsidiaries it makes cigarettes, led by the Marlboro brand. It also sells Black & Mild large cigars and pipe tobacco, and moist smokeless and oral tobacco under the Copenhagen, Skoal, Red Seal, and Husky brands. Beyond traditional tobacco, Altria sells on! oral nicotine pouches and NJOY ACE e-vapor products. It sells to distributors and to large retail organizations such as chain stores, and all of its sales are in the U.S. market.

Products & services

• Marlboro cigarettes
• Black & Mild cigars and pipe tobacco
• Copenhagen and Skoal smokeless tobacco
• on! nicotine pouches
• NJOY ACE e-vapor

What is Altria worth?

On an owner-earnings DCF, Altria's most-likely value is about $80 versus a recent price near $72 (12% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$61) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.

Related companies

Philip Morris International (PM) · Universal (UVV) · Albemarle (ALB)