Annual ReportConsumer Defensive

British American Tobacco p.l.c.

BTI.JO · Period ending 2025-12-31 · Filed 2025-12-31 · Updated

Financial statements are in GBP, the currency British American Tobacco p.l.c. reports in; the share price is quoted in cents (ZAc).

In short

British American Tobacco p.l.c. (BTI.JO) has revenue down 1.0% to GBP 25.6B and operating cash flow down 37.4% to GBP 6.3B year on year. Its net margin is 30.3% and gross margin 83.5%, and it trades at 13.9× trailing earnings. Fisclear flags 2 high-severity risks, led by: Revenue has declined for two consecutive years — a sustained downtrend that may signal structural or competitive headwinds. How we calculate this

Valuation

Consumer Defensive
Live · Yahoo Finance

Price

91,575c

P/E (TTM)

13.8x

Price ÷ earnings per share

P/B

1.9x

Price ÷ book value

P/S (TTM)

76.4x

Price ÷ revenue per share

Beta

0.10

Low volatility vs market

PEG Ratio

1.4x

P/E ÷ earnings growth rate

52-Week Range

85,366c91,575c now111,112c

4-engine score — Quality and Peers engines require SEC EDGAR (US stocks only)

Efficiency
72/100
Value
47/100
Cashflow
52/100
Regime
55/100

Operating margin 45.5% — high profitability.

⚠ Revenue declining 1% YoY.

Based on filing period ending Dec 2025

International FisclearScore uses 4 engines (no EDGAR data). Based on Yahoo Finance & Alpha Vantage reported financials. Not financial advice.

BTI.JO vs
🇿🇦

US macroeconomic data shown as global reference

South Africa-specific indicators may differ. South Africa dashboard coming soon.

US Macro Reference

Fed Funds Rate

3.75%

Accommodative

10-Year Treasury

4.99%

2026-09-01

Unemployment

4.2%

Near full employment

CPI Index

334.1

2026-08-01

M2 Money Supply

$23.3T

2026-08-01

The Federal Funds rate stands at 3.75% — a moderately elevated rate environment that raises borrowing costs across the economy; 10-year Treasury yields are at 4.99%, setting the benchmark for long-term corporate borrowing; Unemployment stands at 4.2%; Industrial production index is at 103.1; M2 money supply is $23.3T; CPI index stands at 334.1.

SWOT Analysis — BTI.JO

Inflationary Boom
Macro lens (Inflationary Boom): Rising costs and tighter margins amplify financial risks in this regime.
✦

Strengths

  • EPS (Diluted): GBP 3.49 (+156.7% YoY) — Earnings per share rose 157% — each share earned more.

  • Net Income: GBP 7.8B (+153.1% YoY) — Profit grew 153% — the company kept more of each dollar earned.

◈

Weaknesses

  • Operating Cash Flow: GBP 6.3B (-37.4% YoY) — Operating cash flow fell 37% but remained positive.

  • Total Assets: GBP 109.3B (-8.1% YoY) — Total assets shrank 8% — the balance sheet contracted.

  • Revenue: GBP 25.6B (-1.0% YoY) — Revenue fell 1% — the company generated less from its core operations.

◎

Opportunities

No clear opportunities identified at this time.

⚠

Threats

  • Revenue has declined for two consecutive years — a sustained downtrend that may signal structural or competitive headwinds.

  • Current ratio of 0.87x — short-term liabilities exceed current assets, which could create near-term liquidity pressure.

Financial Charts

Revenue vs Net Income

Gross Profit vs Operating Income

Margin Trend

Year-over-Year Changes

EPS (Diluted)

GBP 3.49

was GBP 1.36

+156.7%

Earnings per share rose 157% — each share earned more.

Net Income

GBP 7.8B

was GBP 3.1B

+153.1%

Profit grew 153% — the company kept more of each dollar earned.

Operating Cash Flow

GBP 6.3B

was GBP 10.1B

−37.4%

Operating cash flow fell 37% but remained positive.

Total Assets

GBP 109.3B

was GBP 118.9B

−8.1%

Total assets shrank 8% — the balance sheet contracted.

Revenue

GBP 25.6B

was GBP 25.9B

−1.0%

Revenue fell 1% — the company generated less from its core operations.

Risk Flags

2 high · 0 medium · 0 low
  • ⚠ High

    Revenue has declined for two consecutive years — a sustained downtrend that may signal structural or competitive headwinds.

  • ⚠ High

    Current ratio of 0.87x — short-term liabilities exceed current assets, which could create near-term liquidity pressure.

Price HistoryZAR

Technical Signals

Daily closes · 1-year data

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External Links

Research British American Tobacco p.l.c.

Data sourced from Official Exchange, FRED (Federal Reserve), OECD, BIS, and Yahoo Finance. For informational purposes only. Not financial advice.