For fiscal 2025 (ended Dec 31, 2025), British American Tobacco Industries p.l.c. reported £25.61B of revenue and £7.76B of net income. Figures are in GBP, the currency of its SEC filings.
BTI revenue was £25.61B for fiscal 2025 (ended Dec 31, 2025), down 1.0% from fiscal 2024. Compound annual growth was -0.1% over 5 years and +6.9% over 10 years. It rose in 5 of the last 10 fiscal years.
BTI net income was £7.76B for fiscal 2025 (ended Dec 31, 2025), up 153.1% from fiscal 2024. Compound annual growth was +3.9% over 5 years and +6.1% over 10 years.
BTI diluted EPS was £3.49 for fiscal 2025 (ended Dec 31, 2025), up 156.7% from fiscal 2024. Compound annual growth was +4.6% over 5 years and +4.2% over 10 years.
BTI free cash flow was £5.79B for fiscal 2025 (ended Dec 31, 2025), down 39.9% from fiscal 2024. Compound annual growth was -9.0% over 5 years and +3.2% over 10 years. It rose in 5 of the last 10 fiscal years.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £25.61B | £25.87B | £27.28B | £27.66B | £25.68B | £25.78B | £25.88B | £24.49B | £19.56B | £14.13B |
| Research and development | £358.00M | £380.00M | £408.00M | £323.00M | £304.00M | £307.00M | £376.00M | £258.00M | £191.00M | £144.00M |
| Operating income | £10.00B | £2.74B | -£15.75B | £10.52B | £10.23B | £9.96B | £9.02B | £9.31B | £6.41B | £4.66B |
| Interest expense | £1.66B | £1.70B | £1.79B | £1.60B | £1.44B | £1.60B | £1.68B | £1.59B | £1.08B | £645.00M |
| Pre-tax income | £9.86B | £3.54B | -£17.06B | £9.32B | £9.16B | £8.67B | £7.91B | £8.35B | £29.53B | £6.25B |
| Income tax | £2.09B | £357.00M | -£2.87B | £2.48B | £2.19B | £2.11B | £2.06B | £2.14B | -£8.13B | £1.41B |
| Net income | £7.76B | £3.07B | -£14.37B | £6.67B | £6.80B | £6.40B | £5.70B | £6.03B | £37.48B | £4.65B |
| EPS, basic | £3.51 | £1.37 | -£6.47 | £2.93 | £2.97 | £2.80 | £2.50 | £2.64 | £18.34 | £2.50 |
| EPS, diluted | £3.49 | £1.36 | -£6.47 | £2.92 | £2.96 | £2.79 | £2.49 | £2.63 | £18.28 | £2.49 |
| Diluted shares | 2.20B | 2.23B | 2.23B | 2.27B | 2.30B | 2.29B | 2.29B | 2.29B | - | - |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | £3.83B | £5.30B | £4.66B | £3.45B | £2.81B | £3.14B | £2.53B | £2.60B | £3.29B | £2.20B |
| Receivables | £3.80B | £3.60B | £3.62B | £4.37B | £3.95B | £3.72B | £4.09B | £3.59B | £4.05B | £3.88B |
| Inventory | £4.38B | £4.62B | £4.94B | £5.67B | £5.28B | £6.00B | £6.09B | £6.03B | £5.86B | £5.79B |
| Current assets | £12.68B | £14.29B | £14.19B | £15.41B | £12.81B | £13.61B | £13.27B | £12.65B | £13.97B | £12.36B |
| Goodwill | £38.92B | £41.13B | £41.09B | £47.96B | £43.19B | £43.32B | £44.32B | £46.16B | £44.15B | £11.02B |
| Total assets | £109.29B | £118.90B | £118.72B | £153.55B | £137.37B | £137.69B | £141.00B | £146.34B | £141.04B | £39.77B |
| Current liabilities | £14.52B | £18.74B | £15.67B | £17.85B | £15.14B | £15.48B | £18.82B | £16.33B | £15.54B | £11.86B |
| Long-term debt | £31.71B | £32.64B | £35.41B | £38.73B | £35.67B | £39.93B | £37.80B | £43.28B | £44.03B | £16.49B |
| Total debt | £31.71B | £32.64B | £35.41B | £38.73B | £35.67B | £39.93B | £37.80B | £43.28B | £44.03B | £16.49B |
| Total liabilities | £61.15B | £68.90B | £65.78B | £77.84B | £69.96B | £74.73B | £76.84B | £80.65B | £80.06B | £31.37B |
| Shareholders' equity | £46.03B | £47.96B | £52.93B | £75.71B | £67.40B | £62.95B | £64.16B | £65.69B | £60.98B | £8.41B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | £6.34B | £10.13B | £10.71B | £10.39B | £9.72B | £9.79B | £9.00B | £10.29B | £5.35B | £4.61B |
| Capital expenditures | £551.00M | £486.00M | £460.00M | £523.00M | £527.00M | £511.00M | £664.00M | £758.00M | £791.00M | £586.00M |
| Free cash flow | £5.79B | £9.64B | £10.25B | £9.87B | £9.19B | £9.28B | £8.33B | £9.54B | £4.56B | £4.02B |
| Investing cash flow | £1.39B | £1.38B | -£296.00M | -£705.00M | -£1.14B | -£783.00M | -£639.00M | -£1.02B | -£18.54B | -£640.00M |
| Financing cash flow | -£8.76B | -£10.63B | -£9.31B | -£8.88B | -£8.75B | -£7.90B | -£8.59B | -£9.63B | £14.76B | -£4.23B |
| Dividends paid | - | - | - | - | £5.00B | £4.95B | - | - | - | - |
| Share repurchases | £1.11B | £698.00M | £0 | £2.01B | £0 | £0 | £117.00M | £139.00M | - | - |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -1.0% | -5.2% | -1.3% | 7.7% | -0.4% | -0.4% | 5.7% | 25.2% | 38.5% | 7.8% |
| Net income growth, YoY | 153.1% | - | - | -2.0% | 6.3% | 12.2% | -5.4% | -83.9% | 706.5% | 8.3% |
| EPS growth, YoY | 156.7% | - | - | -1.3% | 6.0% | 12.0% | -5.4% | -85.6% | 633.4% | 8.2% |
| Operating margin | 39.0% | 10.6% | -57.7% | 38.1% | 39.8% | 38.6% | 34.8% | 38.0% | 32.8% | 32.9% |
| Net margin | 30.3% | 11.9% | -52.7% | 24.1% | 26.5% | 24.8% | 22.0% | 24.6% | 191.6% | 32.9% |
| Free cash flow margin | 22.6% | 37.3% | 37.6% | 35.7% | 35.8% | 36.0% | 32.2% | 38.9% | 23.3% | 28.5% |
| Return on equity | 16.9% | 6.4% | -27.1% | 8.8% | 10.1% | 10.2% | 8.9% | 9.2% | 61.5% | 55.3% |
| Return on assets | 7.1% | 2.6% | -12.1% | 4.3% | 5.0% | 4.6% | 4.0% | 4.1% | 26.6% | 11.7% |
| Current ratio | 0.87 | 0.76 | 0.91 | 0.86 | 0.85 | 0.88 | 0.71 | 0.78 | 0.90 | 1.04 |
| Debt to equity | 0.69 | 0.68 | 0.67 | 0.51 | 0.53 | 0.63 | 0.59 | 0.66 | 0.72 | 1.96 |
Source: XBRL data British American Tobacco Industries p.l.c. files with the SEC, latest filing dated Feb 13, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures and share counts are restated for stock splits the filings show: 100-for-1, first reported Mar 15, 2019.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| BTI | £25.61B | -1.0% | £7.76B | 30.3% | $131.54B |
| PM | $43.14B | +7.9% | $10.71B | 24.8% | $308.43B |
| MO | $23.52B | +0.5% | $8.12B | 34.5% | $126.62B |
| DFTX | - | - | -$353.79M | - | $4.47B |
| RGC | - | - | -$11.70M | - | $2.61B |
| TRLV | $1.08B | -9.1% | -$445.60M | -41.2% | $2.23B |
| RLX | CN¥3.96B | +44.0% | CN¥921.87M | 23.3% | $1.97B |
| CRON | $271.85M | +54.3% | $63.36M | 23.3% | $1.33B |
| TLRY | $963.10M | +15.9% | -$164.22M | -17.1% | $430.8M |