(BMT) British American Tobacco - Ratings and Ratios
Cigarettes, Heated Tobacco, Vapour, Oral Nicotine, Snus
BMT EPS (Earnings per Share)
BMT Revenue
Description: BMT British American Tobacco
British American Tobacco p.l.c. (ticker BMT) is a London-based, globally diversified tobacco and nicotine company operating across the Americas, Europe, Asia-Pacific, the Middle East, Africa and the United States. Its portfolio spans combustible cigarettes, reduced-risk products (vapour, heated-tobacco and modern oral nicotine), and traditional oral products such as snus and moist snuff, marketed under brands including Vuse, glo, Velo, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Natural American Spirit and Camel.
In FY 2023 the group reported net revenue of £27.6 billion and adjusted EBITDA of £13.2 billion, delivering an EBITDA margin of roughly 48 %. Free cash flow was £9.5 billion, supporting a dividend yield of about 8 % and a payout ratio near 70 %. These figures reflect a modest 2 % revenue growth YoY, driven primarily by a 12 % increase in next-generation product sales, which now represent roughly 18 % of total net revenue.
Key drivers of BAT’s performance include: (1) regulatory pressure – excise taxes and plain-pack mandates continue to compress cigarette volumes, especially in high-income markets; (2) commodity cost exposure – tobacco leaf and aluminum prices have risen 6-8 % year-over-year, pressuring margins unless offset by price-setting power; and (3) consumer shift toward reduced-risk products, a sector-wide trend that historically yields a 3-5 % premium price over traditional cigarettes and offers higher margin potential. The company’s ability to convert smokers to its next-gen portfolio will be a decisive factor for future earnings growth.
For a data-driven, risk-adjusted view of how these dynamics translate into valuation expectations, a deeper dive on ValueRay’s analyst platform is worth exploring.
BMT Stock Overview
| Market Cap in USD | 112,257m |
| Sub-Industry | Tobacco |
| IPO / Inception |
BMT Stock Ratings
| Growth Rating | 75.9% |
| Fundamental | 83.6% |
| Dividend Rating | 77.2% |
| Return 12m vs S&P 500 | 25.0% |
| Analyst Rating | - |
BMT Dividends
| Dividend Yield 12m | 7.18% |
| Yield on Cost 5y | 16.15% |
| Annual Growth 5y | 2.86% |
| Payout Consistency | 94.7% |
| Payout Ratio | 170.8% |
BMT Growth Ratios
| Growth Correlation 3m | -42.2% |
| Growth Correlation 12m | 94.3% |
| Growth Correlation 5y | 72% |
| CAGR 5y | 13.55% |
| CAGR/Max DD 3y (Calmar Ratio) | 0.49 |
| CAGR/Mean DD 3y (Pain Ratio) | 1.14 |
| Sharpe Ratio 12m | 1.78 |
| Alpha | 38.06 |
| Beta | 0.180 |
| Volatility | 18.82% |
| Current Volume | 35.4k |
| Average Volume 20d | 68.7k |
| Stop Loss | 42.7 (-3.2%) |
| Signal | 0.80 |
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income (9.79b TTM) > 0 and > 6% of Revenue (6% = 2.65b TTM) |
| FCFTA 0.11 (>2.0%) and ΔFCFTA -1.47pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -4.81% (prev -3.63%; Δ -1.18pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.11 (>3.0%) and CFO 12.50b > Net Income 9.79b (YES >=105%, WARN >=100%) |
| Net Debt (-4.40b) to EBITDA (13.70b) ratio: -0.32 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.87 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (2.21b) change vs 12m ago -1.14% (target <= -2.0% for YES) |
| Gross Margin 78.23% (prev 82.07%; Δ -3.85pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 38.53% (prev 34.47%; Δ 4.06pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 4.42 (EBITDA TTM 13.70b / Interest Expense TTM 2.15b) >= 6 (WARN >= 3) |
Altman Z'' 1.89
| (A) -0.02 = (Total Current Assets 13.88b - Total Current Liabilities 16.00b) / Total Assets 110.23b |
| (B) 0.21 = Retained Earnings (Balance) 22.99b / Total Assets 110.23b |
| (C) 0.08 = EBIT TTM 9.50b / Avg Total Assets 114.47b |
| (D) 0.74 = Book Value of Equity 46.75b / Total Liabilities 63.05b |
| Total Rating: 1.89 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 83.64
| 1. Piotroski 5.50pt = 0.50 |
| 2. FCF Yield 11.10% = 5.0 |
| 3. FCF Margin 28.70% = 7.18 |
| 4. Debt/Equity 0.75 = 2.22 |
| 5. Debt/Ebitda -0.32 = 2.50 |
| 6. ROIC - WACC (= 10.56)% = 12.50 |
| 7. RoE 19.14% = 1.59 |
| 8. Rev. Trend 28.65% = 2.15 |
| 10. EPS Trend data missing |
What is the price of BMT shares?
Over the past week, the price has changed by -0.11%, over one month by -4.91%, over three months by +0.65% and over the past year by +43.58%.
Is British American Tobacco a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of BMT is around 43.82 EUR . This means that BMT is currently overvalued and has a potential downside of -0.63%.
Is BMT a buy, sell or hold?
What are the forecasts/targets for the BMT price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 47.3 | 7.3% |
BMT Fundamental Data Overview
Market Cap GBP = 83.58b (96.23b EUR * 0.8685 EUR.GBP)
P/E Trailing = 27.4224
P/E Forward = 10.5932
P/S = 3.7597
P/B = 1.7786
P/EG = 0.3967
Beta = 0.18
Revenue TTM = 44.11b GBP
EBIT TTM = 9.50b GBP
EBITDA TTM = 13.70b GBP
Long Term Debt = 32.19b GBP (from longTermDebt, last fiscal year)
Short Term Debt = 3.30b GBP (from shortTermDebt, last quarter)
Debt = 35.33b GBP (from shortLongTermDebtTotal, last quarter)
Net Debt = -4.40b GBP (from netDebt column, last quarter)
Enterprise Value = 114.01b GBP (83.58b + Debt 35.33b - CCE 4.89b)
Interest Coverage Ratio = 4.42 (Ebit TTM 9.50b / Interest Expense TTM 2.15b)
FCF Yield = 11.10% (FCF TTM 12.66b / Enterprise Value 114.01b)
FCF Margin = 28.70% (FCF TTM 12.66b / Revenue TTM 44.11b)
Net Margin = 22.21% (Net Income TTM 9.79b / Revenue TTM 44.11b)
Gross Margin = 78.23% ((Revenue TTM 44.11b - Cost of Revenue TTM 9.60b) / Revenue TTM)
Gross Margin QoQ = 83.59% (prev 67.64%)
Tobins Q-Ratio = 1.03 (Enterprise Value 114.01b / Total Assets 110.23b)
Interest Expense / Debt = 0.99% (Interest Expense 348.0m / Debt 35.33b)
Taxrate = 18.10% (1.01b / 5.57b)
NOPAT = 7.78b (EBIT 9.50b * (1 - 18.10%))
Current Ratio = 0.87 (Total Current Assets 13.88b / Total Current Liabilities 16.00b)
Debt / Equity = 0.75 (Debt 35.33b / totalStockholderEquity, last quarter 46.87b)
Debt / EBITDA = -0.32 (Net Debt -4.40b / EBITDA 13.70b)
Debt / FCF = -0.35 (Net Debt -4.40b / FCF TTM 12.66b)
Total Stockholder Equity = 51.18b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.89% (Net Income 9.79b / Total Assets 110.23b)
RoE = 19.14% (Net Income TTM 9.79b / Total Stockholder Equity 51.18b)
RoCE = 11.39% (EBIT 9.50b / Capital Employed (Equity 51.18b + L.T.Debt 32.19b))
RoIC = 15.50% (NOPAT 7.78b / Invested Capital 50.21b)
WACC = 4.94% (E(83.58b)/V(118.90b) * Re(6.68%) + D(35.33b)/V(118.90b) * Rd(0.99%) * (1-Tc(0.18)))
Discount Rate = 6.68% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -33.33 | Cagr: -0.57%
[DCF Debug] Terminal Value 79.95% ; FCFE base≈13.75b ; Y1≈15.52b ; Y5≈20.97b
Fair Price DCF = 166.6 (DCF Value 363.17b / Shares Outstanding 2.18b; 5y FCF grow 14.94% → 3.0% )
Revenue Correlation: 28.65 | Revenue CAGR: 25.70% | SUE: N/A | # QB: 0