JSE:BTI Ratios and Metrics

Market cap in millions ZAR. Fiscal year is January - December.

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 10, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	2,090,975	2,039,965	1,499,406	1,192,923	1,498,736	1,355,559
Market Cap Growth	32.80%	36.05%	25.69%	-20.41%	10.56%	9.45%
Enterprise Value	2,776,952	2,724,871	2,305,789	2,086,832	2,339,629	2,261,862
Last Close Price	963.92	941.22	633.02	463.07	526.77	428.54
PE Ratio	12.22	11.92	20.96	-	11.06	9.24
PS Ratio	3.66	3.57	2.45	1.88	2.65	2.44
PB Ratio	1.95	1.90	1.27	0.97	0.97	0.93
P/FCF Ratio	16.20	15.81	6.58	4.99	7.41	6.83
P/OCF Ratio	14.80	14.43	6.27	4.78	7.04	6.46
EV/Sales Ratio	4.97	4.78	3.77	3.28	4.13	4.08
EV/EBITDA Ratio	9.41	10.40	8.25	6.75	9.18	8.86
EV/EBIT Ratio	11.13	12.53	9.96	-	9.93	9.60
EV/FCF Ratio	21.52	21.12	10.12	8.74	11.57	11.39
Debt / Equity Ratio	0.73	0.73	0.74	0.75	0.58	0.59
Debt / EBITDA Ratio	2.96	2.96	3.10	3.01	3.50	3.36
Debt / FCF Ratio	6.06	6.06	3.83	3.89	4.42	4.32
Net Debt / Equity Ratio	0.65	0.65	0.62	0.66	0.52	0.54
Net Debt / EBITDA Ratio	2.66	2.66	2.63	2.61	3.18	3.08
Net Debt / FCF Ratio	5.39	5.39	3.23	3.38	4.01	3.96
Asset Turnover	0.22	0.22	0.22	0.20	0.19	0.19
Inventory Turnover	0.99	0.99	0.96	0.92	0.84	0.82
Quick Ratio	0.56	0.56	0.51	0.58	0.48	0.48
Current Ratio	0.87	0.87	0.76	0.91	0.86	0.85
Return on Equity (ROE)	15.82%	15.82%	6.18%	-22.06%	9.57%	10.70%
Return on Assets (ROA)	5.34%	5.34%	5.15%	-4.85%	4.94%	4.96%
Return on Invested Capital (ROIC)	9.68%	9.57%	10.44%	-10.42%	7.71%	8.01%
Return on Capital Employed (ROCE)	10.30%	10.30%	9.80%	-10.30%	8.50%	8.90%
Earnings Yield	8.18%	8.48%	4.84%	-28.06%	9.11%	10.84%
FCF Yield	6.17%	6.33%	15.20%	20.03%	13.49%	14.65%
Dividend Yield	0.06%	5.80%	8.97%	11.85%	8.47%	10.87%
Payout Ratio	72.66%	68.16%	171.74%	-	74.63%	72.19%
Buyback Yield / Dilution	1.17%	1.17%	0.18%	1.68%	1.31%	-0.09%
Total Shareholder Return	1.23%	6.97%	9.15%	13.53%	9.78%	10.79%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.