BTI
British American Tobacco p.l.c.
NYSE: BTI · CONSUMER DEFENSIVE · TOBACCO
$58.80
+2.34% today
Updated 2026-04-30
Market cap
$125.72B
P/E ratio
12.33
P/S ratio
4.91x
EPS (TTM)
$4.71
Dividend yield
5.75%
52W range
$38 – $62
Volume
4.7M
British American Tobacco p.l.c. (BTI) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.76B | $10.02B | $12.12B | $14.21B | $14.88B | $15.40B | $15.19B | $15.26B | $13.97B | $12.54B | $14.13B | $19.56B | $24.49B | $25.88B | $25.78B | $25.68B | $27.66B | $27.28B | $25.87B | $25.61B |
| Revenue growth (YoY) | — | +2.6% | +21.0% | +17.2% | +4.8% | +3.5% | -1.4% | +0.5% | -8.4% | -10.3% | +12.7% | +38.5% | +25.2% | +5.7% | -0.4% | -0.4% | +7.7% | -1.3% | -5.2% | -1.0% |
| Cost of revenue | $2.87B | $2.77B | $3.32B | $3.95B | $3.71B | $3.43B | $3.31B | $3.24B | $3.03B | $3.03B | $3.73B | $5.03B | $4.60B | $4.46B | $4.45B | $4.60B | $4.80B | $4.89B | $4.44B | $4.23B |
| Gross profit | $6.89B | $7.25B | $8.81B | $10.26B | $11.18B | $11.97B | $11.88B | $12.02B | $10.94B | $9.50B | $10.40B | $14.53B | $19.89B | $21.42B | $21.33B | $21.09B | $22.85B | $22.39B | $21.43B | $21.38B |
| Gross margin | 70.6% | 72.3% | 72.6% | 72.2% | 75.1% | 77.8% | 78.2% | 78.7% | 78.3% | 75.8% | 73.6% | 74.3% | 81.2% | 82.8% | 82.7% | 82.1% | 82.6% | 82.1% | 82.9% | 83.5% |
| R&D | $36.00M | $43.00M | $50.00M | $51.00M | $82.00M | $81.00M | $93.00M | $161.00M | $154.00M | $148.00M | $144.00M | $191.00M | $105.00M | $376.00M | $307.00M | $304.00M | $323.00M | $408.00M | $380.00M | $133.00M |
| SG&A | — | — | — | — | — | — | $15.10M | $14.80M | $14.90M | $12.60M | $11.40M | $47.70M | $25.40M | $25.30M | $2.66B | $2.57B | $2.67B | $2.70B | $2.84B | $31.00M |
| Operating income | $2.62B | $2.90B | $3.57B | $4.10B | $4.32B | $4.72B | $5.41B | $5.78B | $5.04B | $4.93B | $5.26B | $7.17B | $10.03B | $10.41B | $9.96B | $10.23B | $10.52B | $-15.75B | $2.74B | $10.00B |
| Operating margin | 26.9% | 29.0% | 29.5% | 28.9% | 29.0% | 30.7% | 35.6% | 37.9% | 36.0% | 39.4% | 37.2% | 36.6% | 41.0% | 40.2% | 38.6% | 39.8% | 38.1% | -57.7% | 10.6% | 39.0% |
| EBITDA | $3.53B | $3.79B | $4.14B | $4.70B | $4.92B | $6.32B | $6.65B | $6.17B | $5.14B | $5.61B | $5.24B | $30.52B | $10.53B | $10.06B | $11.78B | $11.19B | $12.23B | $13.28B | $7.74B | $11.76B |
| EBITDA margin | 36.1% | 37.9% | 34.2% | 33.1% | 33.1% | 41.0% | 43.8% | 40.5% | 36.8% | 44.8% | 37.1% | 156.0% | 43.0% | 38.9% | 45.7% | 43.6% | 44.2% | 48.7% | 29.9% | 45.9% |
| EBIT | $3.17B | $3.46B | $3.71B | $4.09B | $4.03B | $5.50B | $6.17B | $5.78B | $4.72B | $5.21B | $4.69B | $29.70B | $9.54B | $9.13B | $10.94B | $10.24B | $11.50B | $12.64B | $4.64B | $9.76B |
| Interest expense | $410.00M | $382.00M | $535.00M | $602.00M | $583.00M | $567.00M | $505.00M | $532.00M | $484.00M | $584.00M | $681.00M | $1.20B | $1.48B | $1.81B | $1.78B | $1.49B | $1.66B | $1.89B | $1.10B | $1.82B |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $1.90B | $2.13B | $2.46B | $2.71B | $2.88B | $3.10B | $3.84B | $3.90B | $3.12B | $4.29B | $4.65B | $37.53B | $6.03B | $5.70B | $6.40B | $6.80B | $6.67B | $-14.37B | $3.07B | $7.76B |
| Net income growth (YoY) | — | +12.3% | +15.4% | +10.4% | +6.1% | +7.5% | +24.1% | +1.6% | -20.2% | +37.7% | +8.3% | +707.5% | -83.9% | -5.4% | +12.2% | +6.3% | -2.0% | -315.5% | +121.4% | +153.1% |
| Profit margin | 19.4% | 21.3% | 20.3% | 19.1% | 19.3% | 20.1% | 25.3% | 25.6% | 22.3% | 34.2% | 32.9% | 191.8% | 24.6% | 22.0% | 24.8% | 26.5% | 24.1% | -52.7% | 11.9% | 30.3% |