British American Tobacco p.l.c. (BTI) Earnings History
Steady Earner31 years of earnings data (1995–2025) · Positive but moderate multi-year EPS trajectory
Loading earnings history...
British American Tobacco p.l.c. (BTI) Earnings Overview
As of June 28, 2026, British American Tobacco p.l.c. (BTI) reported trailing twelve-month net income of $10.83B, reflecting +156.6% year-over-year growth. The company earned $4.94 per diluted share over the past four quarters, with a net profit margin of 30.3%.
Looking at the long-term picture, BTI's 5-year EPS compound annual growth rate (CAGR) stands at +4.6%, reflecting modest earnings expansion. The company achieved its highest annual net income of $37.53B in fiscal 2017.
British American Tobacco p.l.c. maintains industry-leading profitability with a gross margin of 83.5%, operating margin of 39.0%, and net margin of 30.3%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including MO ($8.05B net income, 34.5% margin), PM ($11.10B net income, 27.9% margin), TPB ($55M net income, 12.6% margin), BTI has room to improve margins relative to the peer group. Compare BTI vs MO →
BTI Earnings vs Peers
Earnings metrics vs comparable public companies
BTI Historical Earnings Data (1995–2025)
31 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $7.76B | +153.1% | $10.00B | $3.49 | 30.3% | 39.0% |
| 2024 | $3.07B | +121.4% | $2.74B | $1.36 | 11.9% | 10.6% |
| 2023 | -$14.37B | -315.5% | -$15.75B | $-6.47 | -52.7% | -57.7% |
| 2022 | $6.67B | -2.0% | $10.52B | $2.92 | 24.1% | 38.1% |
| 2021 | $6.80B | +6.3% | $10.23B | $2.96 | 26.5% | 39.8% |
| 2020 | $6.40B | +12.2% | $9.96B | $2.79 | 24.8% | 38.6% |
| 2019 | $5.70B | -5.4% | $10.41B | $2.49 | 22.0% | 40.2% |
| 2018 | $6.03B | -83.9% | $10.03B | $2.66 | 24.6% | 41.0% |
| 2017 | $37.53B | +707.5% | $7.17B | $18.28 | 191.8% | 36.6% |
| 2016 | $4.65B | +8.3% | $5.26B | $2.49 | 32.9% | 37.2% |
| 2015 | $4.29B | +37.7% | $4.93B | $2.30 | 34.2% | 39.4% |
| 2014 | $3.12B | -20.2% | $5.04B | $1.67 | 22.3% | 36.0% |
| 2013 | $3.90B | +1.6% | $5.78B | $2.05 | 25.6% | 37.9% |
| 2012 | $3.84B | +24.1% | $5.41B | $1.97 | 25.3% | 35.6% |
| 2011 | $3.10B | +7.5% | $4.72B | $1.56 | 20.1% | 30.7% |
| 2010 | $2.88B | +6.1% | $4.32B | $1.44 | 19.3% | 29.0% |
| 2009 | $2.71B | +10.4% | $4.10B | $1.36 | 19.1% | 28.9% |
| 2008 | $2.46B | +15.4% | $3.57B | $1.23 | 20.3% | 29.5% |
| 2007 | $2.13B | +12.3% | $2.90B | $1.04 | 21.3% | 29.0% |
| 2006 | $1.90B | +7.3% | $2.62B | $0.91 | 19.4% | 26.9% |
| 2005 | $1.77B | -37.5% | $2.42B | $0.84 | 18.9% | 26.0% |
| 2004 | $2.83B | +348.0% | $3.76B | $1.13 | 26.3% | 34.9% |
| 2003 | $631M | +54674.3% | $1.85B | $0.27 | 2.5% | 7.2% |
| 2002 | $1M | -99.9% | $2M | $0.50 | 4.7% | 8.8% |
| 2001 | $1.01B | +46.0% | $2.18B | $0.44 | 8.9% | 19.1% |
| 2000 | $692M | +24.5% | $1.78B | $0.30 | 6.3% | 16.3% |
| 1999 | $556M | +60.7% | $1.48B | $0.25 | 6.1% | 16.3% |
| 1998 | $346M | -16.0% | $1.01B | $0.22 | 4.9% | 14.2% |
| 1997 | $412M | -58.3% | $1.30B | $0.26 | 5.8% | 18.2% |
| 1996 | $988M | +14.9% | $1.71B | $0.64 | 13.6% | 23.7% |
| 1995 | $860M | - | $1.65B | $0.56 | 12.7% | 24.3% |
Download Data
Export BTI earnings history in CSV or JSON format
Free sign-in required to download data
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
31+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
BTI — Frequently Asked Questions
Quick answers to the most common questions about buying BTI stock.
What is BTI earnings per share (EPS)?
BTI trailing twelve-month (TTM) diluted EPS is $4.94, reflecting +156.6% year-over-year growth. The 5-year EPS CAGR is +4.6%. Complete EPS history from 1995 to 2025 is available in the table on this page.
What is British American Tobacco p.l.c.'s net income?
British American Tobacco p.l.c. (BTI) trailing twelve-month net income is $10.8B as of 2025. Earnings grew +156.6% year-over-year. British American Tobacco p.l.c. has been profitable for 2 consecutive years.
Is BTI profitable?
Yes, BTI is profitable with a TTM net income of $10.8B and a net profit margin of +30.3%. British American Tobacco p.l.c. has generated profits for 2 consecutive years.
What is BTI's earnings growth rate?
BTI compound annual EPS growth rates (CAGR): 1-Year: +156.6%, 3-Year: +6.1%, 5-Year: +4.6%, 10-Year: +4.3%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1995 to 2025.
What are BTI's profit margins?
British American Tobacco p.l.c. net profit margin is +30.3%, operating margin is +39.0%, and gross margin is +83.5%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +15.8%.
Is BTI growing earnings?
Yes, BTI earnings are accelerating — EPS growth of +156.6% exceeds the 5-year CAGR of +4.6%. TTM net income reached $10.8B. Earnings momentum is strengthening.
What was BTI's best earnings year?
British American Tobacco p.l.c.'s highest annual net income on record is $37.5B, achieved in fiscal year 2017. Earnings history on this page spans 1995 to 2025 and includes all annual and quarterly figures.
What were BTI's earnings last quarter?
BTI's most recent reported quarter was Q4 2025. Net income was $3.3B with diluted EPS of $1.45. For a full breakdown of all quarters, see the quarterly earnings table on this page.