British American Tobacco p.l.c. (BTI) P/E Ratio History
Historical price-to-earnings valuation from 1997 to 2023
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BTI Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, British American Tobacco p.l.c. (BTI) trades at a price-to-earnings ratio of 32.2x, with a stock price of $59.56 and trailing twelve-month earnings per share of $-4.87.
The current P/E is 225% above its 5-year average of 9.9x. Over the past five years, BTI's P/E has ranged from a low of 1.7x to a high of 18.1x, placing the current valuation at the 100th percentile of its historical range.
Compared to the Consumer Defensive sector median P/E of 19.6x, BTI trades at a 64% premium to its sector peers. The sector includes 149 companies with P/E ratios ranging from 0.0x to 193.7x.
Relative to the broader market, BTI commands a significant premium over the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our BTI DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
BTI P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $117B | 17.1 | 1.50Best | -37% | |
| $266B | 23.5 | 3.32 | +61% | |
| $2B | 26.1 | 1.97 | +45% | |
| $1B | 14.3 | 2.49 | -21% | |
| $45M | 0.9Lowest | - | -46% | |
| $2B | 14.7 | 3.92 | -29% | |
| $201M | 168.8 | - | +102%Best |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
BTI Historical P/E Data (1997–2023)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $33.20 | $6.22 | 5.3x | -58% |
| FY2022 Q4 | Sat Dec 31 2022 00:00:00 GM | $39.98 | $5.88 | 6.8x | -46% |
| FY2022 Q2 | $42.91 | $5.05 | 8.5x | -33% | |
| FY2021 Q4 | Fri Dec 31 2021 00:00:00 GM | $37.41 | $5.75 | 6.5x | -48% |
| FY2021 Q2 | Wed Jun 30 2021 00:00:00 GM | $39.31 | $5.47 | 7.2x | -43% |
| FY2020 Q4 | $37.49 | $5.29 | 7.1x | -44% | |
| FY2020 Q2 | $38.82 | $5.49 | 7.1x | -44% | |
| FY2019 Q4 | $42.46 | $5.17 | 8.2x | -35% | |
| FY2019 Q2 | Sun Jun 30 2019 00:00:00 GM | $34.87 | $19.46 | 1.8x | -86% |
| FY2018 Q4 | Mon Dec 31 2018 00:00:00 GM | $31.86 | $19.22 | 1.7x | -87% |
| FY2018 Q2 | Sat Jun 30 2018 00:00:00 GM | $50.45 | $18.61 | 2.7x | -78% |
| FY2017 Q4 | Sun Dec 31 2017 00:00:00 GM | $66.99 | $18.60 | 3.6x | -71% |
Average P/E for displayed period: 12.6x
Full BTI Stock Analysis
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Start ComparisonBTI — Frequently Asked Questions
Quick answers to the most common questions about buying BTI stock.
Is BTI stock overvalued or undervalued?
BTI trades at 32.2x P/E, above its 5-year average of 9.9x. The 100th percentile ranking indicates a premium to historical valuation.
How does BTI's valuation compare to peers?
British American Tobacco p.l.c. P/E of 32.2x compares to sector median of 19.6x. The premium reflects expected growth above peers.
What is BTI's PEG ratio?
BTI PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1997-2023.