Saturday 17 October 2026 Export BTI’s income statement to Excel — free account

British American Tobacco p.l.c.

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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Market cap: $124.7B
P/E: 7.6×
Fwd P/E: 12.9×
Dividend yield: 6.94%
F-score: 7/9
Altman Z: 1.73
Beneish M: −2.24
Dividend safety: 32/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio Full definition →	4.48	1.98	17.05	8.34	5.48	4.86	5.32	3.79	4.62	7.20
Piotroski F-Score Full definition →	4	4	5	7	6	7	7	6	6	7
P/S ratio Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score Full definition →	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) Full definition →	1.42	1.89	1.98	1.98	2.28	2.45	2.31	0.54	1.26	2.02
P/FCF ratio Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Beneish M-Score Full definition →	(2.39)	(0.98)	(2.69)	(2.53)	(2.66)	(2.39)	(2.61)	(3.75)	(2.65)	(2.24)
P/Operating CF Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Safety Score Full definition →	—	—	—	—	—	—	—	—	—	32
P/B ratio Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible BV Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EV/Sales Full definition →	0.00	0.00	0.00	0.00	0.78	0.73	0.71	0.63	0.58	0.60
EV/EBITDA Full definition →	0.00	0.00	0.00	0.00	1.66	1.57	1.54	1.31	1.22	1.26
EV/Operating CF Full definition →	1.08	2.64	2.13	1.63	1.66	1.50	1.45	1.24	1.15	1.45
EV/FCF Full definition →	1.20	2.94	2.32	1.75	1.76	1.57	1.52	1.29	1.20	1.53
Quick Ratio Full definition →	0.52	0.51	0.39	0.36	0.46	0.48	0.48	0.58	0.51	0.56
Current Ratio Full definition →	1.04	0.90	0.78	0.71	0.88	0.85	0.86	0.91	0.76	0.87
Net Debt/EBITDA Full definition →	3.28	6.25	4.32	4.06	3.56	3.22	3.31	2.68	5.33	2.49
Debt/Assets Full definition →	49.02%	35.06%	32.46%	32.17%	31.93%	28.87%	28.10%	33.47%	31.08%	32.09%
Debt/Equity Full definition →	2.32	0.81	0.72	0.71	0.70	0.59	0.57	0.75	0.74	0.73
Asset Turnover Full definition →	0.39	0.22	0.17	0.18	0.19	0.19	0.18	0.20	0.22	0.23
Operating CF/Net income Full definition →	0.99	0.14	1.71	1.58	1.53	1.43	1.57	(0.74)	3.35	0.83
Capex/Depreciation Full definition →	(0.96)	(0.98)	(0.87)	(0.52)	(0.49)	(0.66)	(0.48)	(0.02)	(0.14)	(0.25)
Interest Coverage Full definition →	6.84	5.41	6.74	5.63	5.71	6.89	6.41	(8.31)	2.49	4.92
ROE Full definition →	66.01%	107.44%	9.68%	8.59%	10.10%	10.78%	8.79%	(22.48%)	5.96%	15.90%
ROA Full definition →	12.34%	41.05%	4.27%	3.88%	4.61%	5.11%	4.32%	(10.62%)	2.58%	6.84%
ROIC Full definition →	11.33%	3.78%	5.27%	5.27%	6.01%	6.16%	5.73%	(11.26%)	2.11%	7.87%
Return on Tangible Assets Full definition →	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 Full definition →	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 Full definition →	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 Full definition →	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 Full definition →	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 Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Graham Net Nets Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Graham Number Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Earnings Yield Full definition →	22.34%	50.59%	5.87%	12.00%	18.26%	20.58%	18.79%	26.39%	21.66%	13.89%
Free Cash Flow Yield Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Revenue per Share Full definition →	10.76	12.79	14.31	14.47	14.48	15.44	15.16	15.23	14.93	15.44
Operating CF per Share Full definition →	3.36	3.37	6.01	5.03	5.50	5.84	5.70	5.98	5.84	3.82
Capex per Share Full definition →	(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 Full definition →	2.94	2.81	5.49	4.59	5.10	5.41	5.36	5.69	5.60	3.44
Cash per Share Full definition →	1.62	2.12	1.62	1.48	1.90	1.96	2.21	2.94	3.35	2.32
Shareholders Equity per Share Full definition →	6.13	38.48	38.37	35.87	35.36	40.53	41.51	29.54	28.86	29.03
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	6.13	38.48	38.37	35.87	35.36	40.53	41.51	29.54	28.86	29.03
Free Cash Flow Full definition →	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 Full definition →	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 Full definition →	(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 Full definition →	(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 Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capex to Sales Full definition →	0.04	0.04	0.04	0.03	0.03	0.03	0.02	0.02	0.02	0.02
Price to Operating Income Full definition →	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 Full definition →	0.17	0.18	0.20	0.27	0.29	0.22	0.27	6.24	0.71	0.57
Cash ROIC Full definition →	13.38%	3.92%	8.10%	7.32%	8.23%	8.16%	7.95%	10.41%	10.46%	6.55%
Accounts Receivable Turnover Full definition →	3.82	4.68	6.11	6.43	6.45	6.74	6.12	6.59	7.03	6.54
Accounts Payable Turnover Full definition →	0.54	0.55	0.49	0.44	0.47	0.49	0.45	0.45	0.48	0.48
Inventory Turnover Full definition →	0.71	0.76	0.80	0.74	0.76	0.84	0.83	0.86	0.97	1.01
Average Days of Payables Full definition →	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 Full definition →	559.82	473.53	471.82	483.65	477.69	424.23	432.95	396.56	369.08	358.22
Average Receivables Full definition →	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 Full definition →	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 Full definition →	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 Full definition →	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 Full definition →	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

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