Framework Journal · one stock, one dated entry

Recorded 2026-07-24 · Permanent

An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.

In plain words · Altria Group, Inc., through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States.

The label
Markup

read at $72.99

Altria holds its Markup at $72.99.

PHINPOOPSC
  • PHPhase · the trend structure carries the Markup label
  • INInsiders · no filings inside 60 days, left as found
  • POPositioning · no disclosures inside 60 days, left as found
  • OPOptions · no verdict drawn today, left as found
  • SCScreen · does not pass the values gate
  • edge confirmed
  • edge broken
  • edge forming

Each arm is one independent read. Conviction is not a single call, it is how many edges converge.

The investor read · the season, not the day

As held on the ledger · 2026-07-24
PhaseMarkup
Quantitative stateThe statistical read favours the buyers, held for 17 days
Price$72.99
Valuation15.24 trailing · 12.42 forward price to earnings
Values screenFAIL · score 10.0
Beta0.49

The opportunity · what the numbers say it is worth

Our framework reads AVOID — it trades at roughly a 12% discount to our $82.00 fair value, 5.30% revenue growth.

Read at
$72.99
15.24 P/E · 12.42 fwd
Our fair value
$82.00
12% discount
Analyst target (avg)
$71.00
-3% to current
Target low $59.00Analyst target rangeTarget high $82.00
▲ current $72.99 · | average target

Price history & projections · where it has been, where the models see it going

$85.9$57.9$29.9TODAY5y agoPROJECTIONConservative$82.00 +12%Our fair value$82.00 +12%Analyst high$82.00 +12%Analyst avg$71.00 -3%

The valuation journey · where the price sits against fair value and the Street

Current
$72.99
you are here
Conservative
$82.00
+12%
Analyst avg
$71.00
-3%
Our fair value
$82.00
+12%
Analyst high
$82.00
+12%

Green marks levels above today's price, red below; the shaded band is the gap between the price and our fair value.

Reading the gap · Our model sees value the Street hasn't fully caught up to yet.

Revenue growth5.30%
Profit margin39.52%
Analyst consensusHold · 11 covering

Fair value and rating are our own model estimates; target range reflects third-party analyst estimates. Analysis, not advice.

The values screen, explained · five checks, plain English

This company is excluded by both standards. There are two widely recognised ways to check whether a company is suitable for a Muslim investor. It fails on both:

The common standard · AAOIFI
Used by most halal investing apps
✗ DOES NOT PASS
Our stricter standard · asset-based
The one Titan applies
✗ DOES NOT PASS

Why it fails. The problem is its business activity screen. Because both standards agree on this, it is a clear exclusion, not a borderline case.

What these two standards are, and how they differ →

  • Business activity Business activity: Tobacco Fail

Every security is read against two recognised standards: our stricter asset-based screen (ratios measured against total assets) and the more widely used market-value standard (measured against market capitalisation). Where they agree we say so plainly; where they part ways — almost always on the debt check — we show both readings and mark it, because that disagreement is the finding, not a fault. We report the score; you and your scholar make the call.

The business, in plain words · what the numbers mean

Cigarette Cash Machine Hits Ethical Wall

Millions still light up a Marlboro each morning, giving Altria reliable volumes, 40% profit margins and steady 5% revenue growth at a forward multiple of 12.6 times. The business throws off cash the way few consumer names can. Yet none of that matters here.

We are staying away, for the simple reason that it fails our ethical screen on business activity. Tobacco sits outside the lines we draw, full stop. The hold consensus and $71 median target only reinforce the decision.

Risk sits in plain sight: any volume drop from regulation or health shifts hits earnings fast, and the current price already prices in little growth. Analysis, not advice.

The fundamentals · plain-English read
Forward P/E12.4x
expensive even after accounting for its growth
Trailing P/E15.2x
reasonably valued
Revenue growth5.3%
slow but positive growth
Profit margin39.5%
highly profitable on every dollar of sales
Current ratio0.62
below 1 — short-term bills exceed liquid assets
Beta0.49
barely tracks the market's swings
Market cap$121.9B
Employees5,900

The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.

Plain-English interpretation of our own screen data. Analysis, not advice.

Latest news · what the market is reading on MO

Headlines from third-party outlets, linked for reference — not our reporting, not advice.

Related securities · others in MO's space worth a look

Screened names in the same industry · explore each on its own page.

Where & how to trade · wherever in the world you are

MO trades on a US exchange. As a US-listed security it is accessible through almost any international broker offering US markets. New to this, or investing from outside the US? Our guide to accessing global markets covers brokers, currencies and the practical steps.

The trader read · the latest dated commentary

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (11 analysts) rates it hold, with a mean price target of $69. It reported earnings in this window, a natural checkpoint for the thesis. Entered 2026-07-30 · Markup

The dated journal · newest first, never edited

2026-07-30 Markup $72.99 +0.0% Entry 10

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (11 analysts) rates it hold, with a mean price target of $69. It reported earnings in this window, a natural checkpoint for the thesis.

2026-07-28 Markup $72.99 +0.0% Entry 9

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (11 analysts) rates it hold, with a mean price target of $69. It reported earnings in this window, a natural checkpoint for the thesis.

2026-07-27 Markup $72.99 +0.0% Entry 8

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (11 analysts) rates it hold, with a mean price target of $69. It reported earnings in this window, a natural checkpoint for the thesis.

2026-07-26 Markup $72.99 +0.0% Entry 7

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (11 analysts) rates it hold, with a mean price target of $69. It reported earnings in this window, a natural checkpoint for the thesis.

2026-07-25 Markup $72.99 -1.6% Entry 6

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 1.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (11 analysts) rates it hold, with a mean price target of $69. It reported earnings in this window, a natural checkpoint for the thesis.

2026-07-24 Markup $74.21 +0.0% Entry 5

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (11 analysts) rates it hold, with a mean price target of $69. It reported earnings in this window, a natural checkpoint for the thesis.

2026-07-23 Markup $74.21 +2.8% Entry 4

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 2.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (11 analysts) rates it hold, with a mean price target of $69. It reported earnings in this window, a natural checkpoint for the thesis.

2026-07-18 Markup $72.19 +0.0% Entry 3

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (11 analysts) rates it hold, with a mean price target of $69.

2026-07-03 Markup $72.19 +0.0% Entry 2

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.

2026-07-02 Markup $72.19 Entry 1

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.

Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.

The insider ledger · Form 4 filings, as filed

Most recent filings · MO
DateInsiderTitleTypeSharesValue
2026-05-14 SHANKS VIRGINIA E Director 2,571 ·
2026-05-14 YZAGUIRRE MARIO MAX Director 2,571 ·
2026-05-14 CLARKE IAN L.T. Director 2,571 ·
2026-05-14 KELLY-ENNIS DEBRA J Director 2,571 ·
2026-05-14 DAVIS ROBERT MATTHEWS Director 2,571 ·
2026-05-14 STRAHLMAN ELLEN Director 2,571 ·
2026-05-14 CONNELLY MARJORIE MARY Director 2,571 ·
2026-05-14 STODDART RICHARD S. Director 2,571 ·
2026-05-14 MCQUADE KATHRYN ANN BOVA Director 4,656 ·
2026-05-13 MANCUSO SALVATORE Chief Executive Officer 40,634 ·

Public filings, recorded as found. The full tape lives at Insider Intelligence.

The political ledger · congressional disclosures

Disclosures naming MO
DatePoliticianPartyTypeAmount
9 Jun2026 Gil Cisneros Democrat sell 1K–15K
9 Apr2026 Josh Gottheimer Democrat sell 15K–50K
8 May2026 Ro Khanna Democrat buy 1K–15K
7 May2026 Ro Khanna Democrat sell 1K–15K
7 Feb2025 Tim Walberg Republican buy 15K–50K

What holding actually paid · price plus dividends

If $1,000 had been placed · historical, not a promise
PeriodPrice thenPrice returnDivs per share$1,000 becameTotal return
1 month $68.61 +6.4% · $1,064 +6.4%
2 months $67.38 +8.4% · $1,084 +8.4%
3 months $66.60 +9.6% $1.06 $1,112 +11.2%
6 months $56.71 +28.7% $2.12 $1,325 +32.5%
1 year $54.71 +33.5% $4.20 $1,411 +41.1%
2 years $40.17 +81.8% $8.24 $2,023 +102.3%
3 years $35.77 +104.1% $12.12 $2,380 +138.0%
5 years $33.72 +116.5% $19.40 $2,740 +174.0%

Historical returns from market close data. Past performance does not guarantee future results.

This entry now belongs to the ledger. Whatever MO does next, these words stay.

Altria · MO · Markup · $72.99
Recorded 2026-07-24 · before the outcome · scored mechanically

Get our weekly market brief free.