British American Tobacco p.l.c.(BTI)Earnings, Financials & Key Ratios
BTI•NYSE
$59.56
$129.16B mkt cap·32.2× P/E·Price updated May 6, 2026
AboutBritish American Tobacco p.l.c. provides tobacco and nicotine products to consumers in the Americas, Europe, the Asia-Pacific, the Middle East, Africa, and the United States. It offers vapour, heated, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company provides its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Natural American Spirit, and Camel brands. The company distributes its products to retail outlets. British American Tobacco p.l.c. was founded in 1902 and is based in London, the United Kingdom.Show more
- Revenue$25.87B-5.2%
- EBITDA$5.84B+138.6%
- Net Income$3.07B+121.4%
- EPS (Diluted)1.36+121.0%
- Gross Margin82.85%+0.9%
- EBITDA Margin22.57%+140.7%
- Operating Margin10.58%+118.3%
- Net Margin11.86%+122.5%
- ROE5.96%+126.7%
- ROIC2.39%+120.8%
- Debt/Equity0.74-1.5%
- Interest Coverage2.49+129.9%
BTI Key Insights
British American Tobacco p.l.c. (BTI) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong Piotroski F-Score: 7/9
- ✓FCF machine: 36.8% free cash flow margin
- ✓23 consecutive years of dividend growth
- ✓High quality earnings: Operating CF exceeds net income
- ✓Healthy dividend yield of 5.3%
✗Weaknesses
- ✗Profits declining 11.7% over 5 years
- ✗Dividend payout exceeds 100% of earnings
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
BTI Price & Volume
British American Tobacco p.l.c. (BTI) stock price & volume — 10-year historical chart
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BTI Growth Metrics
British American Tobacco p.l.c. (BTI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years6.35%
5 Years-0.01%
3 Years0.24%
TTM-5.18%
Profit CAGR
10 Years-0.15%
5 Years-11.66%
3 Years-23.31%
TTM-175.87%
EPS CAGR
10 Years-2.03%
5 Years-11.39%
3 Years-22.84%
TTM-177.97%
Return on Capital
10 Years8.52%
5 Years2.84%
3 Years-0.78%
Last Year2.69%
BTI Recent Earnings
British American Tobacco p.l.c. (BTI) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 3/12 qtrs (25%)
Q1 2026Latest
Feb 12, 2026EPS
$2.55
Est $2.50
+2.0%
Revenue
$18.4B
Est $17.8B
+3.4%
Q3 2025
Jul 31, 2025EPS
$2.79
Est $2.24
+24.6%
Revenue
$16.4B
Est $16.2B
+1.3%
Q1 2025
Feb 12, 2025EPS
$0.40
Est $2.44
-116.4%
Revenue
$16.9B
Est $17.7B
-4.6%
Q3 2024
Jul 25, 2024EPS
$2.55
Est $2.19
+16.4%
Revenue
$15.6B
Est $16.2B
-3.7%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 12, 2026 | $2.55vs $2.50+2.0% | $18.4Bvs $17.8B+3.4% |
| Q3 2025 | Jul 31, 2025 | $2.79vs $2.24+24.6% | $16.4Bvs $16.2B+1.3% |
| Q1 2025 | Feb 12, 2025 | $0.40vs $2.44-116.4% | $16.9Bvs $17.7B-4.6% |
| Q3 2024 | Jul 25, 2024 | $2.55vs $2.19+16.4% | $15.6Bvs $16.2B-3.7% |
Based on last 12 quarters of dataView full earnings history →
BTI Peer Comparison
British American Tobacco p.l.c. (BTI) competitors in Branded tobacco and nicotine products — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 MO | 117.32B | 70.17 | 17.07 | -1.49% | 36.91% | |||
 PM | 265.78B | 170.53 | 23.49 | 7.31% | 26.74% | |||
 TPB | 1.55B | 81.21 | 26.11 | 28.39% | 12.56% | 20.08% | 0.83 | |
 UVV | 1.34B | 53.90 | 14.26 | 7.23% | 4.16% | 5.59% | 0.74 | |
 XXII | 621.21K | 0.85 | -63.12% | -65.69% | -79.16% | 2.15 | ||
 STG | 44.91M | 3.29 | 0.90 | -7.84% | 18.94% | 51.95% | 0.31 | |
 CRON | 999.77M | 2.62 | 64.4% | -4.89% | -0.86% | 0.00 | ||
 IIPR | 1.65B | 57.69 | 14.68 | -13.8% | 45.58% | 6.41% | 0.21 |
Compare BTI vs Peers
British American Tobacco p.l.c. (BTI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BTI Income Statement
British American Tobacco p.l.c. (BTI) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 14.13B | 19.56B | 24.49B | 25.88B | 25.78B | 25.68B | 27.66B | 27.28B | 25.87B | 51.78B |
| Revenue Growth % | 12.72% | 38.46% | 25.19% | 5.65% | -0.39% | -0.36% | 7.67% | -1.35% | -5.19% | -5.18% |
| Cost of Goods Sold | 3.73B | 5.03B | 4.6B | 4.46B | 4.45B | 4.6B | 4.8B | 4.89B | 4.44B | 9.06B |
| COGS % of Revenue | 26.42% | 25.73% | 18.77% | 17.24% | 17.25% | 17.9% | 17.37% | 17.93% | 17.15% | - |
| Gross Profit | 10.4B▲ 0% | 14.53B▲ 39.8% | 19.89B▲ 36.9% | 21.42B▲ 7.6% | 21.33B▼ 0.4% | 21.09B▼ 1.1% | 22.85B▲ 8.4% | 22.39B▼ 2.0% | 21.43B▼ 4.3% | 42.71B▲ 0% |
| Gross Margin % | 73.58% | 74.27% | 81.23% | 82.76% | 82.75% | 82.1% | 82.63% | 82.07% | 82.85% | 82.49% |
| Gross Profit Growth % | 9.41% | 39.76% | 36.91% | 7.65% | -0.41% | -1.13% | 8.37% | -2.01% | -4.29% | - |
| Operating Expenses | 3.58B | 16.01B | 9.98B | 11.8B | 11.37B | 10.85B | 12.33B | 38.14B | 18.56B | 56.59B |
| OpEx % of Revenue | 25.3% | 81.84% | 40.74% | 45.6% | 44.1% | 42.26% | 44.58% | 139.81% | 71.76% | - |
| Selling, General & Admin | 2.1B | 2.61B | 3B | 2.87B | 3.76B | 3.81B | 3.83B | 3.86B | 3.95B | 7.88B |
| SG&A % of Revenue | 14.9% | 13.35% | 12.25% | 11.11% | 14.59% | 14.83% | 13.85% | 14.13% | 15.27% | - |
| Research & Development | 144M | 191M | 105M | 376M | 307M | 304M | 323M | 408M | 380M | 768M |
| R&D % of Revenue | 1.02% | 0.98% | 0.43% | 1.45% | 1.19% | 1.18% | 1.17% | 1.5% | 1.47% | - |
| Other Operating Expenses | 170M | 136M | 79M | 8.55B | 7.3B | 6.74B | 8.18B | 33.88B | 14.23B | 4M |
| Operating Income | 5.26B▲ 0% | 7.17B▲ 36.4% | 10.03B▲ 39.9% | 10.41B▲ 3.8% | 9.96B▼ 4.3% | 10.23B▲ 2.7% | 10.52B▲ 2.8% | -15.75B▼ 249.7% | 2.74B▲ 117.4% | -13.88B▲ 0% |
| Operating Margin % | 37.2% | 36.64% | 40.96% | 40.24% | 38.65% | 39.85% | 38.05% | -57.73% | 10.58% | -26.81% |
| Operating Income Growth % | 6.53% | 36.4% | 39.94% | 3.8% | -4.33% | 2.73% | 2.82% | -249.68% | 117.37% | - |
| EBITDA | 5.8B | 7.99B | 11.02B | 11.34B | 10.8B | 11.18B | 11.25B | -15.12B | 5.84B | -9.51B |
| EBITDA Margin % | 41.04% | 40.82% | 45% | 43.84% | 41.88% | 43.54% | 40.67% | -55.41% | 22.57% | -18.36% |
| EBITDA Growth % | 8.68% | 37.71% | 38.02% | 2.92% | -4.83% | 3.58% | 0.57% | -234.41% | 138.61% | -139.36% |
| D&A (Non-Cash Add-back) | 543M | 817M | 990M | 931M | 834M | 949M | 724M | 634M | 3.1B | 4.38B |
| EBIT | 4.69B | 29.7B | 9.54B | 9.13B | 10.94B | 10.24B | 11.5B | 12.64B | 4.64B | 16.31B |
| Net Interest Income | -607M | -1.05B | -1.58B | -1.71B | -1.74B | -1.44B | -1.59B | -1.72B | -1.1B | -3.73B |
| Interest Income | 577M | 1.01B | 1.57B | 1.7B | 50M | 35M | 92M | 186M | 0 | 577M |
| Interest Expense | 681M | 1.2B | 1.48B | 1.81B | 1.78B | 1.49B | 1.66B | 1.89B | 1.1B | 4.3B |
| Other Income/Expense | 989M | 22.36B | -1.68B | -2.5B | -1.29B | -1.07B | -1.2B | -1.31B | 802M | 629M |
| Pretax Income | 6.25B▲ 0% | 29.53B▲ 372.8% | 8.35B▼ 71.7% | 7.91B▼ 5.3% | 8.67B▲ 9.6% | 9.16B▲ 5.7% | 9.32B▲ 1.8% | -17.06B▼ 283.0% | 3.54B▲ 120.7% | -13.25B▲ 0% |
| Pretax Margin % | 44.2% | 150.93% | 34.1% | 30.58% | 33.64% | 35.68% | 33.72% | -62.53% | 13.68% | -25.59% |
| Income Tax | 1.41B | -8.13B | 2.14B | 2.06B | 2.11B | 2.19B | 2.48B | -2.87B | 357M | -2.77B |
| Effective Tax Rate % | 22.51% | -27.53% | 25.64% | 26.07% | 24.31% | 23.89% | 26.58% | 16.83% | 10.09% | 20.93% |
| Net Income | 4.65B▲ 0% | 37.53B▲ 707.5% | 6.03B▼ 83.9% | 5.7B▼ 5.4% | 6.4B▲ 12.2% | 6.8B▲ 6.3% | 6.67B▼ 2.0% | -14.37B▼ 315.5% | 3.07B▲ 121.4% | -10.75B▲ 0% |
| Net Margin % | 32.89% | 191.85% | 24.63% | 22.04% | 24.83% | 26.48% | 24.1% | -52.66% | 11.86% | -20.75% |
| Net Income Growth % | 8.34% | 707.51% | -83.93% | -5.44% | 12.2% | 6.27% | -1.98% | -315.53% | 121.35% | -175.87% |
| Net Income (Continuing) | 2.61B | 37.66B | 5.79B | 5.35B | 6.56B | 6.97B | 6.85B | -14.19B | 3.18B | -10.48B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 224M | 222M | 244M | 258M | 282M | 300M | 342M | 368M | 352M | 303M |
| EPS (Diluted) | 2.49▲ 0% | 18.28▲ 634.1% | 2.66▼ 85.4% | 2.49▼ 6.4% | 2.79▲ 12.0% | 2.96▲ 6.1% | 2.92▼ 1.4% | -6.47▼ 321.6% | 1.36▲ 121.0% | -4.87▲ 0% |
| EPS Growth % | 8.26% | 634.14% | -85.45% | -6.39% | 12.05% | 6.09% | -1.35% | -321.58% | 121.02% | -177.97% |
| EPS (Basic) | 2.50 | 18.34 | 2.68 | 2.50 | 2.80 | 2.97 | 2.93 | -6.49 | 1.37 | - |
| Diluted Shares Outstanding | 2.26B | 2.26B | 2.26B | 2.26B | 2.26B | 2.26B | 2.26B | 2.23B | 2.23B | 2.21B |
| Basic Shares Outstanding | 2.25B | 2.25B | 2.25B | 2.25B | 2.25B | 2.25B | 2.25B | 2.22B | 2.21B | 2.22B |
| Dividend Payout Ratio | 62.61% | 9.23% | 72.07% | 80.61% | 74.14% | 72.11% | 73.73% | - | 169.92% | - |
BTI Balance Sheet
British American Tobacco p.l.c. (BTI) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 12.36B | 13.97B | 12.65B | 13.27B | 13.61B | 12.81B | 15.41B | 14.19B | 14.29B | 13.88B |
| Cash & Short-Term Investments | 2.22B | 3.36B | 2.78B | 2.65B | 3.38B | 3.27B | 4.03B | 2.96B | 5.81B | 4.89B |
| Cash Only | 2.2B | 3.29B | 2.6B | 2.53B | 3.14B | 2.81B | 3.45B | 2.36B | 5.3B | 4.4B |
| Short-Term Investments | 15M | 65M | 178M | 123M | 242M | 456M | 579M | 601M | 513.4M | 489M |
| Accounts Receivable | 2.7B | 3.31B | 2.87B | 3.37B | 3.8B | 4.07B | 4.52B | 3.79B | 2.85B | 3.48B |
| Days Sales Outstanding | 69.64 | 61.68 | 42.74 | 47.52 | 53.81 | 57.81 | 59.6 | 50.74 | 40.29 | 24.25 |
| Inventory | 5.79B | 5.86B | 6.03B | 6.09B | 6B | 5.28B | 5.67B | 4.94B | 4.62B | 5.09B |
| Days Inventory Outstanding | 566.42 | 425.27 | 478.7 | 498.61 | 492.3 | 419.15 | 430.87 | 368.51 | 379.81 | 201.1 |
| Other Current Assets | 1.65B | 1.44B | 978M | 1.16B | 433M | 195M | 1.2B | 195M | 1.01B | 419M |
| Total Non-Current Assets | 27.41B | 127.07B | 133.69B | 127.73B | 124.08B | 124.56B | 138.14B | 104.53B | 104.61B | 96.35B |
| Property, Plant & Equipment | 3.66B | 4.88B | 5.17B | 5.52B | 5.06B | 4.95B | 4.87B | 4.58B | 4.38B | 4.16B |
| Fixed Asset Turnover | 3.86x | 4.01x | 4.74x | 4.69x | 5.09x | 5.19x | 5.68x | 5.95x | 5.91x | 11.80x |
| Goodwill | 11.02B | 44.15B | 46.16B | 44.32B | 43.32B | 43.19B | 47.96B | 41.09B | 41.13B | 0 |
| Intangible Assets | 1.09B | 73.64B | 77.85B | 74.47B | 72.02B | 72.43B | 81.12B | 54.47B | 53.15B | 86.22B |
| Long-Term Investments | 9.54B | 1.55B | 1.6B | 1.75B | 1.58B | 1.54B | 1.56B | 1.49B | 2.05B | 7.86B |
| Other Non-Current Assets | 1.67B | 2.53B | 2.57B | 1.25B | 1.56B | 1.83B | 1.95B | 1.99B | 3.9B | 8.51B |
| Total Assets | 39.77B▲ 0% | 141.04B▲ 254.6% | 146.34B▲ 3.8% | 141B▼ 3.6% | 137.69B▼ 2.4% | 137.37B▼ 0.2% | 153.55B▲ 11.8% | 118.72B▼ 22.7% | 118.9B▲ 0.2% | 110.23B▲ 0% |
| Asset Turnover | 0.36x | 0.14x | 0.17x | 0.18x | 0.19x | 0.19x | 0.18x | 0.23x | 0.22x | 0.44x |
| Asset Growth % | 26.2% | 254.61% | 3.76% | -3.65% | -2.35% | -0.24% | 11.78% | -22.68% | 0.15% | -48.47% |
| Total Current Liabilities | 11.86B | 15.54B | 16.33B | 18.82B | 15.48B | 15.14B | 17.85B | 15.67B | 18.74B | 16B |
| Accounts Payable | 7.33B | 8.91B | 10.63B | 9.73B | 9.69B | 9.58B | 10.45B | 9.7B | 9.56B | 8.24B |
| Days Payables Outstanding | 717.19 | 646.02 | 844.1 | 795.87 | 795.58 | 760.41 | 793.9 | 723.88 | 786.4 | 367.63 |
| Short-Term Debt | 3.01B | 4.98B | 3.75B | 7.09B | 3.9B | 3.87B | 4.27B | 4.19B | 4.17B | 3.3B |
| Deferred Revenue (Current) | 558M | 720M | 853M | 0 | 0 | 0 | 0 | -13M | 0 | -13M |
| Other Current Liabilities | 956M | 975M | 1.07B | 1.31B | 876M | 696M | 1.94B | 657M | 3.18B | 3.28B |
| Current Ratio | 1.04x | 0.90x | 0.78x | 0.71x | 0.88x | 0.85x | 0.86x | 0.91x | 0.76x | 0.76x |
| Quick Ratio | 0.55x | 0.52x | 0.41x | 0.38x | 0.49x | 0.50x | 0.55x | 0.59x | 0.52x | 0.52x |
| Cash Conversion Cycle | -81.13 | -159.08 | -322.66 | -249.73 | -249.47 | -283.45 | -303.42 | -304.63 | -366.3 | -142.28 |
| Total Non-Current Liabilities | 19.51B | 64.47B | 64.33B | 58.02B | 59.26B | 54.82B | 59.98B | 50.11B | 50.16B | 47.05B |
| Long-Term Debt | 16.47B | 44.03B | 43.28B | 37.8B | 39.59B | 35.35B | 38.35B | 35.04B | 32.19B | 31.48B |
| Capital Lease Obligations | 16M | 12M | 7M | 425M | 338M | 320M | 375M | 367M | 444M | 1.89B |
| Deferred Tax Liabilities | 652M | 17.13B | 17.78B | 17.05B | 16.31B | 16.46B | 18.43B | 12.19B | 11.68B | 46.18B |
| Other Non-Current Liabilities | 3.02B | 3.3B | 3.27B | 2.74B | 3.02B | 2.69B | 2.83B | 2.51B | 5.84B | 14.98B |
| Total Liabilities | 31.37B | 80.01B | 80.65B | 76.84B | 74.73B | 69.96B | 77.84B | 65.78B | 68.9B | 63.05B |
| Total Debt | 19.5B | 49.45B | 47.51B | 45.37B | 43.97B | 39.66B | 43.14B | 39.73B | 36.95B | 35.33B |
| Net Debt | 17.29B | 46.16B | 44.91B | 42.84B | 40.83B | 36.85B | 39.69B | 37.37B | 31.65B | -4.4B |
| Debt / Equity | 2.32x | 0.81x | 0.72x | 0.71x | 0.70x | 0.59x | 0.57x | 0.75x | 0.74x | 0.74x |
| Debt / EBITDA | 3.36x | 6.19x | 4.31x | 4.00x | 4.07x | 3.55x | 3.84x | - | 6.33x | -3.72x |
| Net Debt / EBITDA | 2.98x | 5.78x | 4.07x | 3.78x | 3.78x | 3.30x | 3.53x | - | 5.42x | 5.42x |
| Interest Coverage | 7.72x | 5.99x | 6.76x | 5.75x | 5.58x | 6.86x | 6.33x | -8.35x | 2.49x | 3.79x |
| Total Equity | 8.41B▲ 0% | 61.03B▲ 626.0% | 65.69B▲ 7.6% | 64.16B▼ 2.3% | 62.95B▼ 1.9% | 67.4B▲ 7.1% | 75.71B▲ 12.3% | 52.93B▼ 30.1% | 49.99B▼ 5.6% | 47.18B▲ 0% |
| Equity Growth % | 67.05% | 625.98% | 7.64% | -2.33% | -1.88% | 7.06% | 12.33% | -30.08% | -5.55% | -74.03% |
| Book Value per Share | 3.71 | 26.95 | 29.01 | 28.33 | 27.80 | 29.76 | 33.43 | 23.75 | 22.47 | 21.40 |
| Total Shareholders' Equity | 8.18B | 60.8B | 65.44B | 63.9B | 62.67B | 67.1B | 75.37B | 52.57B | 49.64B | 46.87B |
| Common Stock | 507M | 614M | 614M | 614M | 614M | 614M | 614M | 614M | 585M | 581M |
| Retained Earnings | 3.33B | 36.98B | 38.56B | 40.23B | 47.19B | 49.33B | 51.2B | 31.63B | 26.02B | 22.99B |
| Treasury Stock | 0 | 0 | 0 | 0 | -5.15B | -5.12B | -7.12B | -7.1B | -4.41B | 0 |
| Accumulated OCI | 31M | -3.29B | -232M | 22.87B | 19.82B | -4.42B | 30.56B | 27.31B | 27.33B | 23.18B |
| Minority Interest | 224M | 222M | 244M | 258M | 282M | 300M | 342M | 368M | 352M | 303M |
BTI Cash Flow Statement
British American Tobacco p.l.c. (BTI) cash flow — operating, investing & free cash flow history
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 4.61B | 5.35B | 10.29B | 9B | 9.79B | 9.72B | 10.39B | 10.71B | 10.13B | 10.13B |
| Operating CF Margin % | 32.63% | 27.33% | 42.03% | 34.76% | 37.97% | 37.83% | 37.58% | 39.27% | 39.14% | - |
| Operating CF Growth % | -2.33% | 15.99% | 92.54% | -12.62% | 8.78% | -0.71% | 6.97% | 3.08% | -5.5% | -83.54% |
| Net Income | 4.65B | 37.48B | 6.03B | 5.7B | 6.4B | 6.8B | 6.67B | -14.19B | 3.18B | -10.75B |
| Depreciation & Amortization | 494M | 723M | 800M | 994M | 961M | 901M | 834M | 24B | 3.1B | 2.91B |
| Stock-Based Compensation | 84M | 117M | 123M | 120M | 0 | 0 | 0 | 0 | 0 | 74M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 980M |
| Other Non-Cash Items | 181M | -32.38B | 1.87B | 2.59B | 2B | 2.08B | 2.79B | 1.37B | -1.93B | 17.94B |
| Working Capital Changes | -797M | -596M | 1.47B | -416M | 429M | -62M | 103M | -469M | 5.78B | 997.5M |
| Change in Receivables | 87M | -732M | 502M | -699M | 300M | -393M | -42M | -487M | -269M | -331.5M |
| Change in Inventory | -638M | 1.41B | -192M | -371M | -144M | 433M | -246M | 265M | 35M | -39M |
| Change in Payables | 428M | -685M | 123M | 730M | 0 | 183M | 3M | 353M | 0 | -642M |
| Cash from Investing | -640M | -18.54B | -1.02B | -639M | -783M | -1.14B | -705M | -296M | 1.38B | 3.31B |
| Capital Expenditures | -586M | -791M | -758M | -664M | -511M | -527M | -523M | -460M | -486M | -939M |
| CapEx % of Revenue | 4.15% | 4.04% | 3.09% | 2.57% | 1.98% | 2.05% | 1.89% | 1.69% | 1.88% | - |
| Acquisitions | -57M | -17.66B | 12M | -32M | 100M | -231M | -39M | 122M | 1.53B | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 3M | -96M | -263M | -91M | -29M | -154M | -14M | 85M | 249M | 3.96B |
| Cash from Financing | -4.23B | 14.76B | -9.63B | -8.59B | -7.9B | -8.75B | -8.88B | -9.31B | -10.63B | -21.04B |
| Debt Issued (Net) | -364M | 20.11B | -3.48B | -1.39B | -807M | -3.87B | 223M | -1.64B | -2.42B | -2.01B |
| Equity Issued (Net) | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K |
| Dividends Paid | -2.91B | -3.46B | -4.35B | -4.6B | -4.75B | -4.9B | -4.92B | -5.11B | -5.21B | -9.18B |
| Share Repurchases | -64M | -205M | -139M | -117M | -18M | -82M | -2.09B | -110M | -792M | -1.3B |
| Other Financing | -891M | -1.68B | -1.66B | -2.48B | -2.33B | 102M | -2.09B | -2.46B | -2.21B | -8.54B |
| Net Change in Cash | -79M▲ 0% | 1.17B▲ 1582.3% | -494M▼ 142.2% | -293M▲ 40.7% | 853M▲ 391.1% | -425M▼ 149.8% | 874M▲ 305.6% | 1.18B▲ 35.0% | 587M▼ 50.3% | 10.01B▲ 0% |
| Free Cash Flow | 4.02B▲ 0% | 4.56B▲ 13.2% | 9.54B▲ 109.3% | 8.33B▼ 12.6% | 9.28B▲ 11.3% | 9.19B▼ 0.9% | 9.87B▲ 7.4% | 10.25B▲ 3.9% | 9.52B▼ 7.2% | 18.71B▲ 0% |
| FCF Margin % | 28.48% | 23.29% | 38.94% | 32.2% | 35.98% | 35.78% | 35.69% | 37.58% | 36.79% | 36.14% |
| FCF Growth % | -5.03% | 13.22% | 109.33% | -12.63% | 11.32% | -0.92% | 7.41% | 3.88% | -7.19% | 5.35% |
| FCF per Share | 1.78 | 2.01 | 4.21 | 3.68 | 4.10 | 4.06 | 4.36 | 4.60 | 4.28 | 4.28 |
| FCF Conversion (FCF/Net Income) | 0.99x | 0.14x | 1.71x | 1.58x | 1.53x | 1.43x | 1.56x | -0.75x | 3.30x | -1.74x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 900M |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BTI Key Ratios
British American Tobacco p.l.c. (BTI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 69.18% | 108.11% | 9.52% | 8.79% | 10.07% | 10.43% | 9.32% | -22.34% | 5.96% | -22.78% |
| Return on Invested Capital (ROIC) | 17.23% | 8.09% | 6.91% | 7.18% | 7.09% | 7.38% | 7.19% | -11.49% | 2.39% | 2.39% |
| Gross Margin | 73.58% | 74.27% | 81.23% | 82.76% | 82.75% | 82.1% | 82.63% | 82.07% | 82.85% | 82.49% |
| Net Margin | 32.89% | 191.85% | 24.63% | 22.04% | 24.83% | 26.48% | 24.1% | -52.66% | 11.86% | -20.75% |
| Debt / Equity | 2.32x | 0.81x | 0.72x | 0.71x | 0.70x | 0.59x | 0.57x | 0.75x | 0.74x | 0.74x |
| Interest Coverage | 7.72x | 5.99x | 6.76x | 5.75x | 5.58x | 6.86x | 6.33x | -8.35x | 2.49x | 3.79x |
| FCF Conversion | 0.99x | 0.14x | 1.71x | 1.58x | 1.53x | 1.43x | 1.56x | -0.75x | 3.30x | -1.74x |
| Revenue Growth | 12.72% | 38.46% | 25.19% | 5.65% | -0.39% | -0.36% | 7.67% | -1.35% | -5.19% | -5.18% |
BTI Frequently Asked Questions
British American Tobacco p.l.c. (BTI) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
British American Tobacco p.l.c. (BTI) reported $51.78B in revenue for fiscal year 2024. This represents a 665% increase from $6.77B in 1995.
British American Tobacco p.l.c. (BTI) saw revenue decline by 5.2% over the past year.
British American Tobacco p.l.c. (BTI) reported a net loss of $10.75B for fiscal year 2024.
Dividend & Returns
Yes, British American Tobacco p.l.c. (BTI) pays a dividend with a yield of 5.35%. This makes it attractive for income-focused investors.
British American Tobacco p.l.c. (BTI) has a return on equity (ROE) of 6.0%. This is below average, suggesting room for improvement.
British American Tobacco p.l.c. (BTI) generated $18.71B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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British American Tobacco p.l.c. (BTI) financial analysis — history, returns, DCA and operating performance tools
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