British American Tobacco p.l.c. (LON:BATS)

LON:BATS Ratios and Metrics

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

Total Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 22, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Capitalization	96,594	91,543	63,430	51,201	73,164	62,725
Market Cap Growth	16.69%	44.32%	23.89%	-30.02%	16.64%	1.32%
Enterprise Value	129,340	122,278	97,543	89,568	114,214	104,662
Last Close Price	43.87	40.39	25.83	18.82	24.61	19.20

Price Ratios

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 22, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	15.40	11.92	20.96	-	11.06	9.24
Forward PE	11.73	11.87	7.77	6.11	8.34	7.85
PS Ratio	3.67	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	13.81	15.81	6.58	4.99	7.41	6.83
P/OCF Ratio	12.73	14.43	6.27	4.78	7.04	6.46
PEG Ratio	1.91	3.37	2.51	1.83	0.92	1.58

EV Ratios

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 22, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
EV/Sales Ratio	4.94	4.78	3.77	3.28	4.13	4.08
EV/EBITDA Ratio	10.90	10.40	8.25	6.75	9.18	8.86
EV/EBIT Ratio	13.63	12.53	9.96	-	9.93	9.60
EV/FCF Ratio	18.59	21.12	10.12	8.74	11.57	11.39

Financial Efficiency

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 22, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Debt / Equity Ratio	0.72	0.73	0.74	0.75	0.58	0.59
Debt / EBITDA Ratio	3.11	2.96	3.10	3.01	3.50	3.36
Debt / FCF Ratio	5.12	6.06	3.83	3.89	4.42	4.32
Net Debt / Equity Ratio	0.67	0.65	0.62	0.66	0.52	0.54
Net Debt / EBITDA Ratio	2.91	2.66	2.63	2.61	3.18	3.08
Net Debt / FCF Ratio	4.75	5.39	3.23	3.38	4.01	3.96
Asset Turnover	0.24	0.22	0.22	0.20	0.19	0.19
Inventory Turnover	0.90	0.99	0.96	0.92	0.84	0.82
Quick Ratio	0.48	0.56	0.51	0.58	0.48	0.48
Current Ratio	0.84	0.87	0.76	0.91	0.86	0.85
Return on Equity (ROE)	13.42%	15.82%	6.18%	-22.06%	9.57%	10.70%
Return on Assets (ROA)	5.12%	5.34%	5.15%	-4.85%	4.94%	4.96%
Return on Invested Capital (ROIC)	8.51%	9.57%	10.44%	-10.42%	7.71%	8.01%
Return on Capital Employed (ROCE)	9.50%	10.30%	9.80%	-10.30%	8.50%	8.90%

Yields

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 22, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Earnings Yield	6.49%	8.48%	4.84%	-28.06%	9.11%	10.84%
FCF Yield	7.24%	6.33%	15.20%	20.03%	13.49%	14.65%
Dividend Yield	5.47%	5.82%	8.34%	10.26%	6.64%	7.87%
Payout Ratio	82.63%	68.16%	171.74%	-	74.63%	72.19%
Buyback Yield / Dilution	1.22%	1.17%	0.18%	1.68%	1.31%	-0.09%
Total Shareholder Return	6.74%	6.99%	8.52%	11.94%	7.94%	7.78%

Data Source: S&P Global Market Intelligence Last updated: Jul 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every six months for this company.

Update frequency:

Semi-annually

Last checked:

Oct 22, 2026

Data Sources Report a data error