(ITB) Imperial Brands - Ratings and Ratios
Cigarettes, Tobacco, Vapour, Heated Tobacco, Oral Nicotine
Dividends
| Dividend Yield | 6.08% |
| Yield on Cost 5y | 12.46% |
| Yield CAGR 5y | 59.00% |
| Payout Consistency | 100.0% |
| Payout Ratio | 75.7% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 18.3% |
| Value at Risk 5%th | 30.1% |
| Relative Tail Risk | 0.36% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.11 |
| Alpha | 25.27 |
| CAGR/Max DD | 1.73 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.406 |
| Beta | -0.081 |
| Beta Downside | 0.130 |
| Drawdowns 3y | |
|---|---|
| Max DD | 17.65% |
| Mean DD | 3.89% |
| Median DD | 3.03% |
Description: ITB Imperial Brands November 30, 2025
Imperial Brands PLC (XETRA: ITB) is a UK-based multinational that manufactures, imports, markets, and sells a broad portfolio of tobacco and next-generation products (NGP) across Europe, the Americas, Africa, Asia, and Australasia. Its brand roster includes legacy cigarettes such as Davidoff, Gauloises, and Winston, as well as vapor, heated-tobacco, and oral-nicotine offerings like Blu, Pulze, and Skruf. Beyond tobacco, the group operates ancillary businesses ranging from golf-course management and pharmaceutical logistics to publishing and POS software distribution.
Key metrics (FY 2023) show revenue of roughly £30 bn, net debt around £16 bn, and a dividend yield near 8 %, reflecting the sector’s cash-flow focus. The company’s strategic pivot to NGPs is gaining traction: heated-tobacco sales grew ~5 % YoY, while cigarette volumes continued to decline in mature markets due to tightening regulation and rising excise taxes. Macro-drivers include higher inflation pressure on discretionary spending, and divergent regulatory trends-stringent plain-pack mandates in the EU versus more permissive environments in emerging markets, which shape growth outlooks for both traditional and reduced-risk products.
For a deeper quantitative assessment, you may want to explore Imperial Brands profile on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 8.0
| Net Income (4.66b TTM) > 0 and > 6% of Revenue (6% = 3.04b TTM) |
| FCFTA 0.20 (>2.0%) and ΔFCFTA 12.78pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -7.53% (prev -16.95%; Δ 9.41pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.23 (>3.0%) and CFO 6.41b > Net Income 4.66b (YES >=105%, WARN >=100%) |
| Net Debt (10.30b) to EBITDA (7.84b) ratio: 1.31 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.68 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (840.2m) change vs 12m ago -10.85% (target <= -2.0% for YES) |
| Gross Margin 54.17% (prev 36.30%; Δ 17.87pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 177.5% (prev 60.24%; Δ 117.2pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 14.76 (EBITDA TTM 7.84b / Interest Expense TTM 461.0m) >= 6 (WARN >= 3) |
Altman Z'' 0.52
| (A) -0.14 = (Total Current Assets 8.09b - Total Current Liabilities 11.91b) / Total Assets 27.86b |
| (B) -0.04 = Retained Earnings (Balance) -1.18b / Total Assets 27.86b |
| (C) 0.24 = EBIT TTM 6.81b / Avg Total Assets 28.53b |
| (D) -0.05 = Book Value of Equity -1.09b / Total Liabilities 22.33b |
| Total Rating: 0.52 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 80.73
| 1. Piotroski 8.0pt |
| 2. FCF Yield 15.78% |
| 3. FCF Margin 11.20% |
| 4. Debt/Equity 2.19 |
| 5. Debt/Ebitda 1.31 |
| 6. ROIC - WACC (= 25.99)% |
| 7. RoE 88.96% |
| 8. Rev. Trend 42.24% |
| 10. EPS Trend data missing |
What is the price of ITB shares?
Over the past week, the price has changed by +1.16%, over one month by +8.60%, over three months by +6.74% and over the past year by +28.98%.
Is ITB a buy, sell or hold?
What are the forecasts/targets for the ITB price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 41.7 | 11.4% |
ITB Fundamental Data Overview November 23, 2025
Market Cap GBP = 25.63b (29.33b EUR * 0.874 EUR.GBP)
P/E Trailing = 12.9293
P/E Forward = 9.5785
P/S = 1.5449
P/B = 5.4349
P/EG = 0.8257
Beta = 0.202
Revenue TTM = 50.64b GBP
EBIT TTM = 6.81b GBP
EBITDA TTM = 7.84b GBP
Long Term Debt = 7.74b GBP (from longTermDebt, last quarter)
Short Term Debt = 2.85b GBP (from shortTermDebt, last quarter)
Debt = 10.89b GBP (from shortLongTermDebtTotal, last quarter)
Net Debt = 10.30b GBP (from netDebt column, last quarter)
Enterprise Value = 35.93b GBP (25.63b + Debt 10.89b - CCE 599.0m)
Interest Coverage Ratio = 14.76 (Ebit TTM 6.81b / Interest Expense TTM 461.0m)
FCF Yield = 15.78% (FCF TTM 5.67b / Enterprise Value 35.93b)
FCF Margin = 11.20% (FCF TTM 5.67b / Revenue TTM 50.64b)
Net Margin = 9.19% (Net Income TTM 4.66b / Revenue TTM 50.64b)
Gross Margin = 54.17% ((Revenue TTM 50.64b - Cost of Revenue TTM 23.21b) / Revenue TTM)
Gross Margin QoQ = 36.16% (prev 37.36%)
Tobins Q-Ratio = 1.29 (Enterprise Value 35.93b / Total Assets 27.86b)
Interest Expense / Debt = 4.23% (Interest Expense 461.0m / Debt 10.89b)
Taxrate = 31.74% (412.0m / 1.30b)
NOPAT = 4.65b (EBIT 6.81b * (1 - 31.74%))
Current Ratio = 0.68 (Total Current Assets 8.09b / Total Current Liabilities 11.91b)
Debt / Equity = 2.19 (Debt 10.89b / totalStockholderEquity, last quarter 4.97b)
Debt / EBITDA = 1.31 (Net Debt 10.30b / EBITDA 7.84b)
Debt / FCF = 1.82 (Net Debt 10.30b / FCF TTM 5.67b)
Total Stockholder Equity = 5.23b (last 4 quarters mean from totalStockholderEquity)
RoA = 16.71% (Net Income 4.66b / Total Assets 27.86b)
RoE = 88.96% (Net Income TTM 4.66b / Total Stockholder Equity 5.23b)
RoCE = 52.49% (EBIT 6.81b / Capital Employed (Equity 5.23b + L.T.Debt 7.74b))
RoIC = 30.87% (NOPAT 4.65b / Invested Capital 15.05b)
WACC = 4.88% (E(25.63b)/V(36.53b) * Re(5.72%) + D(10.89b)/V(36.53b) * Rd(4.23%) * (1-Tc(0.32)))
Discount Rate = 5.72% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -100.0 | Cagr: -4.12%
[DCF Debug] Terminal Value 77.87% ; FCFE base≈4.29b ; Y1≈4.17b ; Y5≈4.18b
Fair Price DCF = 92.80 (DCF Value 74.38b / Shares Outstanding 801.6m; 5y FCF grow -3.87% → 3.0% )
Revenue Correlation: 42.24 | Revenue CAGR: 4.52% | SUE: N/A | # QB: 0