Philip Morris International runs a traditional tobacco business, but its non-combustible product line (heated tobacco under the IQOS brand) is growing rapidly as revenue mix shifts. Notably, its A+ profitability grade is the highest in this entire batch.

A 3.16% dividend yield is a strong income draw, but tobacco carries its usual regulatory risk — governments could tighten rules on heated-tobacco products at any time. Analyst coverage is limited here too (recommendation: none), so tracking IQOS revenue growth directly in earnings is worthwhile.