# British American Tobacco p.l.c. share price today (British American Tobacco p.l.c., BTI)

> British American Tobacco p.l.c.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. BTI · Consumer Staples · Tobacco · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/bti

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## Key numbers

- Business trend: Mixed, from fewer quarters than usual
- Price: $60.90 (+19.0% in a year)
- P/E: 15.6×, against its own history
- Revenue (Jun 2026): GBP 12.2 B (+1.4% on a year ago)
- Profit (Jun 2026): GBP 3.2 B (−29.6% on a year ago)
- Operating margin: 34.9% (−7.1 points on a year ago)
- ROE: 16%, FY25
- ROIC: 8.5%, against a 4.5% cost of capital: +4.0 points

Biggest thing to watch: the price has already been rising for 4 weeks, so timing is the risk more than the business. ## What is the British American Tobacco p.l.c. share price today? British American Tobacco p.l.c.'s share price was $60.90 at the close on 3 November 2026. It has been rising for 4 weeks. That is 2.9% above its average price over the last 200 trading days. In the last 52 weeks it traded between $53 and $65, and at that close it sat 65% of the way up from that low. Over the past 13 weeks it has done better than the S&P 500, and it has stayed ahead for 2 weeks in a row. Over the last 10 years the share price moved −4% while the S&P 500 moved +255%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does British American Tobacco p.l.c. pay? British American Tobacco p.l.c. declared GBP 1.20 per local share for Dec 2023, and GBP 4.66 over the last four reported quarters. It reports in British pounds, and one US-listed share can stand for several local shares, so we do not set this against the dollar price or show a yield. ## Which stock lists is British American Tobacco p.l.c. on? British American Tobacco p.l.c. is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is British American Tobacco p.l.c. profitable? British American Tobacco p.l.c. earned GBP 3.2 B of net profit in the Jun 2026 quarter, −29.6% on the same quarter a year earlier. Full-year FY25 profit was GBP 7.7 B. Over 4 years profit has grown 3.1% a year on average. That is 25.8% of the quarter's revenue. The same quarter a year earlier earned GBP 4.5 B. 2 of the last 12 reported quarters were loss-making. For the full year, FY25 profit was GBP 7.7 B (+153.7% on the year before). This company reports in British pounds, not US dollars, so the money charts are left out here. The figures in the text are in that currency (GBP); nothing is converted. ## How much revenue does British American Tobacco p.l.c. make, and is it growing? British American Tobacco p.l.c. reported GBP 12.2 B of revenue in the Jun 2026 quarter, +1.4% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 4 years it has grown −0.1% a year on average. The last full year, FY25, came in at GBP 25.6 B. FY25 revenue was GBP 25.6 B, −1.0% on the year before. Recent pace: the last four quarters grew −0.8% on average, against −0.1% a year over the longer run, so this year is growing at about the same pace as its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew −5.6%, against −0.7% a year over the last 8 quarters (rolling over). This company reports in British pounds, not US dollars, so the money charts are left out here. The figures in the text are in that currency (GBP); nothing is converted. ## How much of its sales does British American Tobacco p.l.c. keep? British American Tobacco p.l.c.'s operating margin was 34.9% in the Jun 2026 quarter, 7.1 percentage points lower than the same quarter a year ago. Over the last four quarters it has moved −2.4 percentage points. Across 5 years it has been between −38.7% and 42.5%. The latest quarter is within that range. Why the margin moved: operating margin changed −2.4 percentage points on the year while gross margin changed +1.2 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is British American Tobacco p.l.c.'s profit turning into cash? Over the last 3 years, 155% of British American Tobacco p.l.c.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in GBP 6.3 B of operating cash against GBP 7.7 B of profit. After GBP 551 M of spending on assets, GBP 5.8 B was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. This company reports in British pounds, not US dollars, so the money charts are left out here. The figures in the text are in that currency (GBP); nothing is converted. ## Where does British American Tobacco p.l.c.'s cash go? British American Tobacco p.l.c. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent GBP 1.5 B on assets over the last 3 years. Averaged over those years that is 1.9% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: GBP 1.5 B over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. This company reports in British pounds, not US dollars, so the money charts are left out here. The figures in the text are in that currency (GBP); nothing is converted. ## What is British American Tobacco p.l.c.'s P/E ratio, and how does it compare with its own history? British American Tobacco p.l.c.'s P/E is 15.6×, with too little history to compare. This compares the share price with the company’s own past. It does not say what the business is worth. In short: there is too little history to say whether the multiple is high or low for this company, so the earnings trend underneath matters more than the multiple. ## Is the British American Tobacco p.l.c. business getting better or worse? British American Tobacco p.l.c.'s business is giving mixed signals. Revenue and profit growth are shrinking while ROCE is steady at 19.7%, so growth and returns point different ways. This is based on 12 quarters of 3 measures, with some gaps. Why it matters: when the lines disagree, each line above matters more than any single label. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## How much does British American Tobacco p.l.c. earn on its capital? British American Tobacco p.l.c. earned a ROE of 16% in FY25. That is up from a low of −27% in FY23. Its return on capital used (ROIC) is 4.0 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 30.0% net margin and 0.23× asset turnover (sales divided by assets). Why the return is what it is (FY25): a 30.0% net margin × 0.23× asset turnover × 2.27× leverage (assets divided by equity) ≈ 15.7% on equity. The margin does most of the work; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 8.5% − 4.5% = +4.0 percentage points. The 4.5% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. The 8.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at 9.6%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does British American Tobacco p.l.c. have too much debt? British American Tobacco p.l.c. has total debt of GBP 35.1 B against shareholder equity of GBP 48.6 B as of Jun 2026, so its debt is 0.72× its equity. Year by year, that ratio went from 0.59 in FY21 to 0.73 in FY25. Keep that borrowing in mind when reading the returns on this page. This company reports in British pounds, not US dollars, so the money charts are left out here. The figures in the text are in that currency (GBP); nothing is converted. ## What is the British American Tobacco p.l.c. shareholding pattern? We have no ownership or short-position figures for British American Tobacco p.l.c., so this section says so rather than fill the gap. At normal trading volumes, closing those positions would take about 0.8 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. ## How far is British American Tobacco p.l.c. from balance-sheet trouble? For British American Tobacco p.l.c., the Z-score is 1.70. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the danger zone. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 1.70 is inside the danger zone, so the balance sheet is a real risk. ## How does British American Tobacco p.l.c. rank in its industry? 49.4 out of 100, rank 3 of 6 in Tobacco, with 51% of the evidence available. British American Tobacco p.l.c. scores 49.4 out of 100 against the 6 companies it is compared with in Tobacco, ranking 3. Some evidence is missing, so the score is pulled toward the middle on purpose. The four parts add up to the total exactly: 15.8 + 11.1 + 10 + 12.5 = 49.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is British American Tobacco p.l.c. compared with? British American Tobacco p.l.c. ranks 3 of 6 Tobacco companies on the 4-Factor Sector Score, with 49.4 out of 100. 1. [Philip Morris International Inc.](https://www.sectoralpha.in/us/stocks/pm) PM · breaking out · Most evidence points up · 85% evidence 74.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.2/35 · Revenue 7.9% · Profit 24.2% · Operating margin change 1.3 points · 95% evidence Capital efficiency 18.8/25 · ROCE 39.3% · Operating margin 41.9% · 76% evidence Valuation 12.0/20 · P/E 27.8× · PEG 1.16 · 65% evidence Relative strength 18.4/20 · Lead over its industry 22.4% · Lead over S&P 500 11.5% · 1 year 35.6% · 100% evidence · 4 of 12 weeks ahead Exact sum: 25.2 + 18.8 + 12 + 18.4 = 74.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Altria Group, Inc.](https://www.sectoralpha.in/us/stocks/mo) MO · turning · Most evidence points up · 81% evidence 69.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.8/35 · Revenue 0.9% · Profit -9.2% · Operating margin change -0.2 points · 83% evidence Capital efficiency 22.0/25 · ROCE 60.5% · Operating margin 61.7% · 76% evidence Valuation 16.5/20 · P/E 15.1× · PEG 0.4 · 65% evidence Relative strength 17.4/20 · Lead over its industry 19.8% · Lead over S&P 500 9% · 1 year 32.6% · 100% evidence · 2 of 12 weeks ahead Exact sum: 13.8 + 22 + 16.5 + 17.4 = 69.7 · What this means: Relative strength against the index is 9%, and revenue and profit growth are weak. 3. British American Tobacco p.l.c. this page BTI · turning · Too little evidence to rank firmly · 51% evidence 49.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.8/35 · Revenue n/a · Profit n/a · Operating margin change -7.1 points · 26% evidence Capital efficiency 11.1/25 · ROCE 9.5% · Operating margin 34.9% · 76% evidence Valuation 10.0/20 · P/E 15.9× · PEG n/a · 15% evidence Relative strength 12.5/20 · Lead over its industry 8.9% · Lead over S&P 500 -1.4% · 1 year 11.6% · 100% evidence · 1 of 12 weeks ahead Exact sum: 15.8 + 11.1 + 10 + 12.5 = 49.4 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 4. [Turning Point Brands, Inc.](https://www.sectoralpha.in/us/stocks/tpb) TPB · basing · Evidence leans down · 81% evidence 37.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.6/35 · Revenue 24.3% · Profit 25% · Operating margin change -20 points · 83% evidence Capital efficiency 8.1/25 · ROCE 8.6% · Operating margin 4.2% · 76% evidence Valuation 11.8/20 · P/E 36.9× · PEG 1.03 · 65% evidence Relative strength 0.8/20 · Lead over its industry -20.7% · Lead over S&P 500 -29.4% · 1 year -34.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.6 + 8.1 + 11.8 + 0.8 = 37.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Universal Corporation](https://www.sectoralpha.in/us/stocks/uvv) UVV · basing · Most evidence points down · 81% evidence 27.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 6.5/35 · Revenue -3.1% · Profit -81.5% · Operating margin change -5.5 points · 83% evidence Capital efficiency 3.9/25 · ROCE 8.3% · Operating margin 0.4% · 76% evidence Valuation 15.7/20 · P/E 15.4× · PEG 0.33 · 65% evidence Relative strength 1.8/20 · Lead over its industry -18% · Lead over S&P 500 -26.2% · 1 year -26% · 100% evidence · 0 of 12 weeks ahead Exact sum: 6.5 + 3.9 + 15.7 + 1.8 = 27.9 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 6. AIR Global PLC AIIR · breaking out · Too little evidence to rank firmly · 20% evidence 49.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.5/35 · Revenue n/a · Profit n/a · Operating margin change n/a · 0% evidence Capital efficiency 12.5/25 · ROCE n/a · Operating margin n/a · 0% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 9.6/20 · Lead over its industry -10.7% · Lead over S&P 500 -20.2% · 1 year -26.8% · 100% evidence · 7 of 12 weeks ahead Exact sum: 17.5 + 12.5 + 10 + 9.6 = 49.6 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Tobacco](https://www.sectoralpha.in/us/sectors/tobacco), all 6 compared on one page. ## Which companies are close to British American Tobacco p.l.c. in size? British American Tobacco p.l.c. is the 2nd largest of 6 Tobacco companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: Philip Morris International Inc. Just below it: Altria Group, Inc., RLX Technology Inc., Turning Point Brands, Inc. and Universal Corporation. ### Tobacco companies close in size

1. [Philip Morris International Inc.](https://www.sectoralpha.in/us/stocks/pm) $324.2 billion
2. British American Tobacco p.l.c. $128.5 billion
3. [Altria Group, Inc.](https://www.sectoralpha.in/us/stocks/mo) $128 billion
4. [RLX Technology Inc.](https://www.sectoralpha.in/us/stocks/rlx) $2 billion
5. [Turning Point Brands, Inc.](https://www.sectoralpha.in/us/stocks/tpb) $1.3 billion
6. [Universal Corporation](https://www.sectoralpha.in/us/stocks/uvv) $983 million

[All 6 Tobacco companies, largest first](https://www.sectoralpha.in/us/sectors/tobacco#all-companies)

### Companies close in size in other industries

1. [Petróleo Brasileiro S.A. - Petrobras](https://www.sectoralpha.in/us/stocks/pbr) $135.1 billion · Oil & Gas Integrated
2. [Banco Bilbao Vizcaya Argentaria, S.A.](https://www.sectoralpha.in/us/stocks/bbva) $134.7 billion · Banks - Diversified
3. British American Tobacco p.l.c. $132.8 billion
4. [Bristol-Myers Squibb Company](https://www.sectoralpha.in/us/stocks/bmy) $128.8 billion · Drug Manufacturers - General
5. [Altria Group, Inc.](https://www.sectoralpha.in/us/stocks/mo) $128.4 billion · Tobacco

## What else do people ask about British American Tobacco p.l.c.? ### What were British American Tobacco p.l.c.'s latest quarterly results? British American Tobacco p.l.c. reported revenue of GBP 12.2 B and net profit of GBP 3.2 B for the Jun 2026 quarter. Revenue rose 1.4% and profit fell 29.6% compared with a year earlier. The operating margin was 34.9%, 7.1 percentage points lower than a year earlier (as of 3 November 2026). ### What is British American Tobacco p.l.c.'s market cap? British American Tobacco p.l.c.'s market capitalisation is $128 B at a stock price of $60.90. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is British American Tobacco p.l.c. performing? British American Tobacco p.l.c.'s share price has been rising for 4 weeks. In its latest quarter, revenue rose 1.4% and profit fell 29.6% compared with a year earlier. Over the past 13 weeks it has done better than the S&P 500, for 2 weeks running (as of 3 November 2026). ### Will British American Tobacco p.l.c.'s stock price go up? This page does not forecast British American Tobacco p.l.c.'s stock price. What it shows instead: the stock price is $60.90, and it has been rising for 4 weeks. Nobody can reliably say which way a price will move, and this site does not try (as of 3 November 2026). ### Where is British American Tobacco p.l.c. in its business cycle? British American Tobacco p.l.c.'s FY25 operating margin was 38.1%, against a 5-year range of −38.7% to 42.5%: the middle of its own range, neither a peak nor a low. The latest quarter was 34.9%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the British American Tobacco p.l.c. story? Biggest thing to watch: the price has already been rising for 4 weeks, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is British American Tobacco p.l.c. a stock worth studying right now? What the numbers show: British American Tobacco p.l.c.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). This is research, not advice. We’re not SEBI-registered.