British American Tobacco p.l.c.
British American Tobacco p.l.c. (BTI) is listed on NYSE and classified in Tobacco, part of the Consumer Defensive sector. It is headquartered in London, United Kingdom and has 47,797 employees. The company is worth $130.04B and trades at 15.5x its earnings of the last twelve months; the median for its sector is 18.2x. Revenue was £25.61B in fiscal 2025, down 1.0% from the year before. Net income was £7.76B. The share price is 10.1% below its 52-week high of $67.30. It pays a dividend yielding 5.52%. 7 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Ken Griffin (Citadel Advisors), at $189.58M. In that quarter, 5 of them reduced the position. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Revenue, debt and profit are in GBP, the currency the company reports in — not converted to dollars. Dividends are in dollars.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +78.3% over 5Y.
today you would have $2,500.50▲ +150.0%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 4 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Year-end price | $56.62 | $36.32 | $29.29 | $39.98 | |
| EPS | £3.49 | £1.36 | -£6.47 | £2.92 | |
| Dividend yield | 7.79% | 5.29% | 8.18% | 9.57% | 7.40% |
| Profit margin | 17.98% | 30.32% | 11.86% | -52.66% | 24.10% |
| ROE | 7.51% | 16.20% | 6.18% |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 0.0% a year plus a 5.5% dividend yield. Growth capped at 25%.
Median P/E of 18.2 among peers in the sector.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Companies of similar size in Consumer Defensive, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| MOAltria Group Inc | $76.07 | 15.6x | — | 5.84% | — | $127.02B |
| ULUnilever PLC | $67.00 | 13.0x | 7.9x | 3.16% | 31.87% | $144.29B |
| BUDAnheuser-Busch InBev SA | $85.49 | 17.7x | 10.8x | 1.58% | 11.39% | $168.34B |
| MNSTMonster Beverage Corp | $47.30 |
| -27.33% |
| 8.84% |
This company reports in GBP, and the stock trades in dollars. P/E, P/S, P/B and payout would divide dollars by GBP, so they are not shown; EPS is in GBP. Margin, ROE and dividend yield do not depend on the currency.
Median of the years shown; P/E years above 200x are left out.
Dividend growing 5.5% a year against a 7.0% required return, from the stock’s beta.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
4 methods answered, across 2 families.
Room for errors in the reported numbers.
+105.9% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 43.8x |
| 9.9x |
| 0.00% |
| 25.70% |
| $92.66B |
| PEPPepsico Inc | $138.83 | 17.0x | 8.5x | 4.26% | 52.19% | $189.19B |
| MDLZMondelez International, Inc. | $65.19 | 24.0x | 3.1x | 3.19% | 13.34% | $83.2B |