(BMT) British American Tobacco - Ratings and Ratios
Cigarettes, Vapour, Heated, Oral, Snus
Dividends
| Dividend Yield | 6.28% |
| Yield on Cost 5y | 14.49% |
| Yield CAGR 5y | 2.87% |
| Payout Consistency | 94.6% |
| Payout Ratio | 170.8% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 19.0% |
| Value at Risk 5%th | 28.7% |
| Relative Tail Risk | -8.39% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.77 |
| Alpha | 47.43 |
| CAGR/Max DD | 0.69 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.472 |
| Beta | -0.115 |
| Beta Downside | 0.089 |
| Drawdowns 3y | |
|---|---|
| Max DD | 25.68% |
| Mean DD | 10.73% |
| Median DD | 10.37% |
Description: BMT British American Tobacco December 02, 2025
British American Tobacco p.l.c. (XETRA:BMT) is a global tobacco and nicotine company headquartered in London, operating across the Americas, Europe, Asia-Pacific, the Middle East, Africa and the United States. Its portfolio spans combustible cigarettes, modern oral products (snus, moist snuff) and next-generation nicotine delivery systems such as vapour (Vuse), heated (glo) and oral (Velo) devices, marketed under brands including Camel, Lucky Strike, Dunhill, Kent, Pall Mall, Newport, Natural American Spirit, Grizzly, Kodiak and Rothmans.
Key performance indicators from the most recent FY2024 filing show a 3.2 % year-on-year revenue growth to £30.3 bn, driven largely by a 12 % increase in next-generation product sales, while the traditional cigarette segment declined 4 % in volume. The company reported an operating margin of 30.1 % and a dividend yield of roughly 8.5 % (FY2024), reflecting its historically high cash-flow generation and commitment to shareholder returns.
Sector-level drivers that materially affect BMT include tightening regulatory environments (e.g., plain-pack laws, higher excise taxes) and shifting consumer preferences toward reduced-risk products. Macro-economic factors such as euro-pound exchange rate volatility and inflation-linked cost pressures also introduce earnings uncertainty, especially in emerging-market operations where currency devaluation can erode margins.
For a deeper quantitative breakdown, you might explore ValueRay’s analyst tools to assess how these dynamics translate into forward-looking valuation metrics.
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 3.26 (EBITDA TTM 13.70b / Interest Expense TTM 2.91b) >= 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) 83.62
| 1. Piotroski 5.50pt |
| 2. FCF Yield 10.44% |
| 3. FCF Margin 28.70% |
| 4. Debt/Equity 0.75 |
| 5. Debt/Ebitda -0.32 |
| 6. ROIC - WACC (= 10.98)% |
| 7. RoE 19.14% |
| 8. Rev. Trend 28.39% |
| 10. EPS Trend data missing |
What is the price of BMT shares?
Over the past week, the price has changed by +0.10%, over one month by +8.76%, over three months by +6.92% and over the past year by +49.93%.
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 | 54.6 | 10% |
BMT Fundamental Data Overview November 26, 2025
Market Cap GBP = 90.77b (103.86b EUR * 0.874 EUR.GBP)
P/E Trailing = 30.2215
P/E Forward = 11.7509
P/S = 4.0577
P/B = 1.9677
P/EG = 0.4399
Beta = 0.062
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 = 121.21b GBP (90.77b + Debt 35.33b - CCE 4.89b)
Interest Coverage Ratio = 3.26 (Ebit TTM 9.50b / Interest Expense TTM 2.91b)
FCF Yield = 10.44% (FCF TTM 12.66b / Enterprise Value 121.21b)
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 = 1.10 (Enterprise Value 121.21b / Total Assets 110.23b)
Interest Expense / Debt = 2.16% (Interest Expense 764.0m / 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 = 4.52% (E(90.77b)/V(126.10b) * Re(5.59%) + D(35.33b)/V(126.10b) * Rd(2.16%) * (1-Tc(0.18)))
Discount Rate = 5.59% (= 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 = 167.0 (DCF Value 363.17b / Shares Outstanding 2.18b; 5y FCF grow 14.94% → 3.0% )
Revenue Correlation: 28.39 | Revenue CAGR: 20.02% | SUE: N/A | # QB: 0