PM’s worst drop since 2008 was 43%
Philip Morris International (PM) fell 43% from Jun 2017 to Mar 2020. It took 4.0 years from that peak to close at a new high, in Jun 2021. Over the same years the S&P 500 fell as much as 52%.
That drop is milder than most. It ranks 949th of the 986 stocks PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2008 to now
How PM held up in each crash
| Crash | Years | PM | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | −31.9% | −33.7% |
| 2022 rate shock | 2022 | −22.8% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
See how PM behaves inside your whole mix, with the worst 12 months, loss odds and crash replays. Free, no signup, and the math runs in your browser.
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What was PM’s maximum drawdown?
PM’s deepest fall since 2008 was 42.8%, from its high on June 19, 2017 to its low on March 23, 2020. The figure uses daily prices with dividends reinvested.
How long did PM take to recover?
4.0 years. PM first closed above its Jun 2017 high again on June 14, 2021.
Was PM riskier than the S&P 500?
Over the same years, PM’s worst drop was 42.8% against 51.5% for the S&P 500 (SPY), and its worst 12 months were −34.5% against −40.4%.
Compare with
Daily adjusted closes from Yahoo Finance, March 18, 2008 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.