Saturday 17 October 2026
Export BTI’s income statement to Excel — free account
British American Tobacco p.l.c.
BTI Consumer Defensive Tobacco
British American Tobacco p.l.c.’s revenue for fiscal 2025 (year ended December 2025) was $33.8 billion, up 2.17% from fiscal 2024.
60.00
2.00
+3.45%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
4.48 | 1.98 | 17.05 | 8.34 | 5.48 | 4.86 | 5.32 | 3.79 | 4.62 | 7.20 |
Piotroski F-Score |
4 | 4 | 5 | 7 | 6 | 7 | 7 | 6 | 6 | 7 |
P/S ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z-Score |
2.37 | 1.45 | 1.12 | 1.34 | 1.37 | 1.40 | 1.35 | 0.55 | 1.05 | 1.73 |
Altman Z″-Score (non-manufacturers) |
1.42 | 1.89 | 1.98 | 1.98 | 2.28 | 2.45 | 2.31 | 0.54 | 1.26 | 2.02 |
P/FCF ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Beneish M-Score |
(2.39) | (0.98) | (2.69) | (2.53) | (2.66) | (2.39) | (2.61) | (3.75) | (2.65) | (2.24) |
P/Operating CF |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 32 |
P/B ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
0.00 | 0.00 | 0.00 | 0.00 | 0.78 | 0.73 | 0.71 | 0.63 | 0.58 | 0.60 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 1.66 | 1.57 | 1.54 | 1.31 | 1.22 | 1.26 |
EV/Operating CF |
1.08 | 2.64 | 2.13 | 1.63 | 1.66 | 1.50 | 1.45 | 1.24 | 1.15 | 1.45 |
EV/FCF |
1.20 | 2.94 | 2.32 | 1.75 | 1.76 | 1.57 | 1.52 | 1.29 | 1.20 | 1.53 |
Quick Ratio |
0.52 | 0.51 | 0.39 | 0.36 | 0.46 | 0.48 | 0.48 | 0.58 | 0.51 | 0.56 |
Current Ratio |
1.04 | 0.90 | 0.78 | 0.71 | 0.88 | 0.85 | 0.86 | 0.91 | 0.76 | 0.87 |
Net Debt/EBITDA |
3.28 | 6.25 | 4.32 | 4.06 | 3.56 | 3.22 | 3.31 | 2.68 | 5.33 | 2.49 |
Debt/Assets |
49.02% | 35.06% | 32.46% | 32.17% | 31.93% | 28.87% | 28.10% | 33.47% | 31.08% | 32.09% |
Debt/Equity |
2.32 | 0.81 | 0.72 | 0.71 | 0.70 | 0.59 | 0.57 | 0.75 | 0.74 | 0.73 |
Asset Turnover |
0.39 | 0.22 | 0.17 | 0.18 | 0.19 | 0.19 | 0.18 | 0.20 | 0.22 | 0.23 |
Operating CF/Net income |
0.99 | 0.14 | 1.71 | 1.58 | 1.53 | 1.43 | 1.57 | (0.74) | 3.35 | 0.83 |
Capex/Depreciation |
(0.96) | (0.98) | (0.87) | (0.52) | (0.49) | (0.66) | (0.48) | (0.02) | (0.14) | (0.25) |
Interest Coverage |
6.84 | 5.41 | 6.74 | 5.63 | 5.71 | 6.89 | 6.41 | (8.31) | 2.49 | 4.92 |
| 66.01% | 107.44% | 9.68% | 8.59% | 10.10% | 10.78% | 8.79% | (22.48%) | 5.96% | 15.90% | |
| 12.34% | 41.05% | 4.27% | 3.88% | 4.61% | 5.11% | 4.32% | (10.62%) | 2.58% | 6.84% | |
ROIC |
11.33% | 3.78% | 5.27% | 5.27% | 6.01% | 6.16% | 5.73% | (11.26%) | 2.11% | 7.87% |
Return on Tangible Assets |
111.62% | 1,135.99% | 404.29% | (18,399.02%) | 200.38% | 259.98% | 273.09% | (465.50%) | (4,322.71%) | 290.47% |
Average Days of Receivables |
97.81 | 81.18 | 54.57 | 59.45 | 53.81 | 57.81 | 59.60 | 50.74 | 51.80 | 60.89 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
15.42% | 13.20% | 12.27% | 12.45% | 10.65% | 10.58% | 10.75% | 9.76% | 10.94% | 12.20% |
Intangible Assets out of Total Assets |
0.30 | 0.84 | 0.85 | 0.84 | 0.84 | 0.84 | 0.84 | 0.81 | 0.79 | 0.80 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
22.34% | 50.59% | 5.87% | 12.00% | 18.26% | 20.58% | 18.79% | 26.39% | 21.66% | 13.89% |
Free Cash Flow Yield |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Revenue per Share |
10.76 | 12.79 | 14.31 | 14.47 | 14.48 | 15.44 | 15.16 | 15.23 | 14.93 | 15.44 |
Operating CF per Share |
3.36 | 3.37 | 6.01 | 5.03 | 5.50 | 5.84 | 5.70 | 5.98 | 5.84 | 3.82 |
Capex per Share |
(0.42) | (0.56) | (0.53) | (0.44) | (0.40) | (0.43) | (0.34) | (0.29) | (0.24) | (0.38) |
Free Cash Flow per Share |
2.94 | 2.81 | 5.49 | 4.59 | 5.10 | 5.41 | 5.36 | 5.69 | 5.60 | 3.44 |
Cash per Share |
1.62 | 2.12 | 1.62 | 1.48 | 1.90 | 1.96 | 2.21 | 2.94 | 3.35 | 2.32 |
Shareholders Equity per Share |
6.13 | 38.48 | 38.37 | 35.87 | 35.36 | 40.53 | 41.51 | 29.54 | 28.86 | 29.03 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
6.13 | 38.48 | 38.37 | 35.87 | 35.36 | 40.53 | 41.51 | 29.54 | 28.86 | 29.03 |
Free Cash Flow |
5,460.50 | 5,753.20 | 12,533.78 | 10,489.73 | 11,652.30 | 12,380.03 | 12,086.99 | 12,680.31 | 12,396.91 | 7,524.50 |
Working Capital |
681.71 | (2,033.73) | (4,904.06) | (7,085.52) | (2,395.94) | (3,213.60) | (3,022.99) | (1,849.68) | (5,685.38) | (2,426.41) |
Capital Expenditures |
(787.43) | (1,138.01) | (1,207.99) | (997.26) | (912.92) | (981.82) | (769.35) | (646.83) | (541.83) | (838.69) |
Net Current Asset Value |
(25,761.55) | (85,120.12) | (90,765.11) | (81,173.81) | (78,481.93) | (78,596.59) | (77,215.96) | (64,180.27) | (69,786.12) | (63,905.52) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.17 | 0.18 | 0.20 | 0.27 | 0.29 | 0.22 | 0.27 | 6.24 | 0.71 | 0.57 |
Cash ROIC |
13.38% | 3.92% | 8.10% | 7.32% | 8.23% | 8.16% | 7.95% | 10.41% | 10.46% | 6.55% |
Accounts Receivable Turnover |
3.82 | 4.68 | 6.11 | 6.43 | 6.45 | 6.74 | 6.12 | 6.59 | 7.03 | 6.54 |
Accounts Payable Turnover |
0.54 | 0.55 | 0.49 | 0.44 | 0.47 | 0.49 | 0.45 | 0.45 | 0.48 | 0.48 |
Inventory Turnover |
0.71 | 0.76 | 0.80 | 0.74 | 0.76 | 0.84 | 0.83 | 0.86 | 0.97 | 1.01 |
Average Days of Payables |
708.84 | 714.41 | 831.97 | 771.98 | 771.97 | 769.62 | 797.72 | 778.99 | 763.58 | 762.54 |
Days of Inventory on Hand |
559.82 | 473.53 | 471.82 | 483.65 | 477.69 | 424.23 | 432.95 | 396.56 | 369.08 | 358.22 |
Average Receivables |
5,232.10 | 5,586.93 | 5,352.20 | 5,135.09 | 5,130.67 | 5,236.55 | 5,589.87 | 5,151.98 | 4,704.64 | 5,162.33 |
Average Payables |
9,509.25 | 10,671.57 | 12,796.14 | 13,305.34 | 12,433.11 | 12,807.57 | 13,046.85 | 12,495.10 | 12,134.89 | 12,252.39 |
Average Inventory |
7,172.35 | 7,704.39 | 7,802.52 | 7,914.47 | 7,741.43 | 7,480.29 | 7,136.81 | 6,578.42 | 6,020.58 | 5,838.67 |
Average Assets |
51,044.61 | 117,837.08 | 188,553.55 | 187,693.30 | 178,421.65 | 182,842.30 | 189,405.80 | 168,795.90 | 149,805.90 | 148,030.85 |
Average Common Equity |
9,543.16 | 45,021.48 | 83,165.33 | 84,803.12 | 81,380.06 | 86,758.67 | 93,164.41 | 79,745.15 | 64,866.61 | 63,688.72 |
Columns are period end dates