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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.

61.13 1.95 −3.09%
Market cap
$135.6B
P/E
8.0×
Fwd P/E
13.9×
Dividend yield
5.27%
F-score
7/9
Altman Z
1.73
Beneish M
−2.24
Dividend safety
32/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

British American Tobacco p.l.c. (BTI) Debt to equity

Alert me on Debt to equity

British American Tobacco p.l.c.'s debt to equity at the end of the quarter to 30 June 2026 was 0.7×, down 0.0× from fiscal 2025 (0.7×). Over the past ten years it has ranged from 0.6× (fiscal 2022) to 3.4× (fiscal 2015); the current reading is higher than 55% of that period. That is above the Tobacco industry median of 0.0× and above the Consumer Defensive sector median of 0.2×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.7× (1.45%)
FY2024 0.7× (1.53%)
FY2023 0.8× 31.73%
FY2022 0.6× (3.16%)
FY2021 0.6× (15.75%)
FY2020 0.7× (1.23%)
FY2019 0.7× (2.24%)
FY2018 0.7× (10.74%)
FY2017 0.8× (65.06%)
FY2016 2.3× (31.36%)

Quarterly newest first

Period Debt to equity Change
Jun 2026 0.7× (0.95%)
Dec 2025 0.7× (2.40%)
Jun 2025 0.7× 0.97%
Dec 2024 0.7× 0.24%
18 more quarters

Against its own ten years

Low 0.6× High 3.4×
Ten-year median 0.7×
Current reading's percentile 55

Debt to equity against peers

Company Debt to equity
MO Altria Group, Inc. compare −11.1×
PM Philip Morris International Inc. compare −8.0×
ISPR Ispire Technology Inc. compare 0.0×
RYM RYTHM, Inc. compare 0.0×
RLX RLX Technology Inc. Sponsored ADR compare 0.0×
UVV Universal Corporation compare 0.4×
TPB Turning Point Brands, Inc. compare 0.6×
BTI British American Tobacco p.l.c. 0.7×
AIIR Air Global PLC compare 2.1×
Tobacco industry median 0.0×
Consumer Defensive sector median 0.2×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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