Reading the tape
NYSE: BTI
British American Tobacco p.l.c.
Consumer Defensive · Tobacco
Market Cap
$119.03B
52w High
$63.22
52w Low
$40.12
P/E
11.52
Volume
3.91M
Outstanding Shares
2.17B
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 28.86%Revenue (TTM): -0.99%FCF (TTM): -39.15%P/FCF: 75th pct
What changed
The stock rose 28.86% over the last year. Revenue declined 0.99% over the trailing twelve months. Operating margin moved from 10.58% to 39.04%. Free cash flow declined 39.15% over the trailing twelve months.
What the market seems to be pricing
The stock has moved higher against modestly weakening underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 39.04%. A decisive move in revenue — currently down 0.99% — would be the clearest signal to resolve the ambiguity.
Company profile
British American Tobacco p.l.c. provides tobacco and nicotine products to consumers in the Americas, Europe, the Asia-Pacific, the Middle East, Africa, and the United States.
CEOTadeu Luiz Marroco
SectorConsumer Defensive
IndustryTobacco
Employees48,989
IPO dateApr 14, 1980
Valuation
Forward P/E—
EV/EBITDA10.47
Enterprise value$123.14B
Stock splits
Feb 14, 2017↑ Forward
Every 1 shares became 2
Feb 2, 2017↑ Forward
Every 1 shares became 2
Sep 8, 1998↓ Reverse
Every 2 shares became 1
Mar 15, 1994↓ Reverse
Every 2 shares became 1
May 27, 1993↑ Forward
Every 1 shares became 2
Jun 20, 1983↑ Forward
Every 1 shares became 4
Profitability & growth
Revenue growth-2.17%
Gross margin61.35%▲0.78%vs FY2024
Operating margin39.6%▲269.05%vs FY2024
ROE16.2%▲162.13%vs FY2024
Analyst consensus
RatingBuy
Target price$40.00▼27.05%
12
Buy
4
Hold
2
Sell
⚠ Analyst ratings tend to be lagging indicators — upgrades often follow price gains rather than precede them. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jul 30, 2026
Q2 FY26 · EPS est $2.21 · Revenue est $16.83B
View
Dividends
$1.67/shareSemi-annualAdequateBTI pays a dividend with a 3.05% declared yield, growing at 3.21% annually, covered 1.1× by free cash flow.
Declared Yield
3.05%
Annual Div / Share
$1.67
TTM $2.41
5yr CAGR
+3.21%
Doubles every ~21.9yr
Payout Ratio
67.66%
Adequate
Dividend Growth Rate
3yr CAGR
+2.49%
5yr CAGR
+3.21%
10yr CAGR
+3.16%
Dividend Safety
5/10Adequate
Dividend History
Annual dividends paid per share
YearAnnual DivYoY
2025$3.17+6.7%
2024$2.97+6.0%
2023$2.80-4.9%
2022$2.95-1.3%
2021$2.98+10.2%
2020$2.71+0.4%
2019$2.70-0.7%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$30/yr
$3/mo
In 5 yrs
$36/yr+17%
$3/mo
In 10 yrs
$42/yr+37%
$3/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$30/yr $3/mo | $36/yr+17% $3/mo | $42/yr+37% $3/mo |
Yield-on-cost grows from 3.05% → 4.18% over 10yr