British American Tobacco Industries, p.l.c.: stock overview

BTINYSEConsumer defensive · Cigarettes

Price

$61.89

November 13, 2026Market cap $135B

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  • The full history: 11 fiscal years, from 2015
  • The estimated fair value, with its range and its certainty
  • The full analysis, 18 a month
  • More questions to the chat on its filings
  • Excel with every year
  • An email when it reports, changes its dividend or an officer buys

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In short

British American Tobacco Industries, p.l.c. had revenue of $34.4B in the fiscal year to December 31, 2025 and net income of $10.4B, a net margin of 30.3%. Revenue fell by 0.1% a year on average over the last 5 years. At $61.89 the shares trade at a P/E of 13.0, against a median of 11.7 over the last 4 fiscal years. It has net debt of $42.7B. It pays a dividend yielding 5.32%.

From its SEC filings (latest fiscal year to December 31, 2025) and the price of November 13, 2026.

Its SEC filings
Market cap
$135B
2.19B shares
P/E
13.0
Today13.0
Median11.7
Revenue, fiscal year
$34.4B
-0.1% a year over 5 years
Net margin
30.3%

Worth knowing

What a holder would want to hear from the company's SEC filings of the last three years. Each with its filing, without comment.

3 fiscal years in figures

Each fiscal year's figures as the company filed them, and the share price at its end.

2023–2025 fiscal years

-3.1% a year over 2 years

  • 202520-F
    Revenue$34.4B
  • 202420-F
    Revenue$32.4B
  • 202320-F
    Revenue$34.8B

Fiscal years in figures

BTI's revenue, profit, cash flow and dividend with each year-end price, from 2015 to 2022, 8 more fiscal years

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Key figures

The company's current figures in five groups. Each term is explained behind its ⓘ.

Valuation

Market cap 3-year median: $80.4B
$135B
Enterprise value 
$178B
P/E 
13.0
EV / EBIT 
13.3
EV / Revenue 
5.2
P/B 3-year median: 1.3
2.1
FCF yield 3-year median: 15.0%
5.8%
Earnings yield 3-year median: 4.7%
7.7%

Profitability

Operating margin 
39.0%
Net margin 3-year median: 11.9%
30.3%
ROIC 
9.5%
ROIC, 5-year average 
2.6%
ROE, fiscal year 
16.1%

Growth

Revenue, yearly change 
-1.0%
EPS, yearly change 
+156.7%
FCF, yearly change 
-39.9%
Revenue, average a year 
-0.1%
EPS, average a year 
+4.6%

The yearly change compares FY2025 with FY2024.

Balance sheet

Cash 
$5.1B
Total debt 
$47.9B
Net debt 
$42.7B
Net debt / EBITDA 
–
Interest cover 
–
Current ratio 
–

Balance sheet of December 31, 2025.

Returns to shareholders

Dividend yield 3-year median: 8.3%
5.32%
Buybacks 
0.06%
Total returned 
5.38%
Shares, yearly change 
-1.2%
Valuation against its own pastEach fiscal year's P/E, P/FCF and P/B beside today's, and the DCF calculator for the company.Valuation

The company at the SEC

How it is registered and when its fiscal year ends.

Name at the SEC
British American Tobacco p.l.c.
CIK
1303523
Exchange
NYSE
Industry (SIC)
2111 · Cigarettes
Latest annual report
December 31, 2025
Reporting currency
GBP
Shares
2.19B

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The full analysis

What do British American Tobacco Industries, p.l.c.'s filings show?

These are British American Tobacco Industries, p.l.c.'s figures. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

  • A fair value range built from the filings
  • Earnings quality, debt and red flags
  • Insider and institutional moves
  • The case for and the case against

Questions about BTI

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What is BTI's market cap?

British American Tobacco Industries, p.l.c.'s market cap is $135B, at a price of $61.89 on November 13, 2026 and 2.19B shares.

What is BTI's P/E?

BTI's P/E is 13.0, on earnings per share of $4.69 in the fiscal year to December 31, 2025. The median over the last 4 fiscal years was 11.7.

How much revenue does BTI have?

British American Tobacco Industries, p.l.c. had revenue of $34.4B in the fiscal year to December 31, 2025. Over the last 5 years it changed by -0.1% a year on average.

Does BTI pay a dividend?

Yes. British American Tobacco Industries, p.l.c. paid $3.30 per share over the last 12 months, a yield of 5.32% at today's price. All the figures are in the Dividend section.

Where do the figures come from?

From British American Tobacco Industries, p.l.c.'s SEC filings (its annual report on 20-F) and the share price. They hold no analyst estimates and no score, and they are not a recommendation.

Related pages

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.