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British American Tobacco p.l.c.

BTAFF
Exchange
OTC
Industry
Cigarettes
SEC CIK
0001303523

No open-market purchases or sales by British American Tobacco p.l.c. insiders were filed in the last 90 days; 2 institutions reported holding it in 13F filings for Q2 2026, worth $1.74M in total; no superinvestor holds it.

Other share classesBTI

Currency
GBP
Source
SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
Updated
Oct 8, 2026, 12:45 PM ET

Amounts are in GBP, the currency British American Tobacco p.l.c. reports in. Lines marked ≈ US$ convert key figures to US dollars.

Revenue flow, FY2025

Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.

Income statement

Each column is one fiscal year, newest first.

Income statement of British American Tobacco p.l.c., annual
Line itemFY2025FY2024FY2023FY2022FY2021
Period endDec 31, 2025Dec 31, 2024Dec 31, 2023Dec 31, 2022Dec 31, 2021
Filing20-F20-F20-F20-F20-F
Reported–––––
RevenueGBP 25.6B≈ US$33.8BGBP 25.9B≈ US$33.1BGBP 27.3B≈ US$33.9BGBP 27.7B≈ US$34.2BGBP 25.7B≈ US$35.4B
Research and developmentGBP 358.0MGBP 380.0MGBP 408.0MGBP 323.0MGBP 304.0M
Operating incomeGBP 10.0BGBP 2.74BGBP -15.8BGBP 10.5BGBP 10.2B
Interest expenseGBP 2.03BGBP 1.35BGBP 2.08BGBP 1.73BGBP 1.52B
Income taxGBP 2.09BGBP 357.0MGBP -2.87BGBP 2.48BGBP 2.19B
Net incomeGBP 7.76B≈ US$10.2BGBP 3.18B≈ US$4.07BGBP -14.2B≈ US-$17.7BGBP 6.85B≈ US$8.47BGBP 6.97B≈ US$9.60B
EPS, basicGBP 3.51GBP 1.37GBP -6.47GBP 2.93GBP 2.97
EPS, dilutedGBP 3.49GBP 1.36GBP -6.47GBP 2.92GBP 2.96
Weighted shares, basic2.19B2.21B2.23B2.26B2.29B
Weighted shares, diluted2.20B2.23B2.23B2.27B2.30B
Margins and growth
Operating margin39.0%10.6%-57.7%38.1%39.8%
Net margin30.3%12.3%-52.0%24.8%27.2%
Revenue growth, year over year−1.0%−5.2%−1.3%+7.7%−0.4%
Net income growth, year over year+144.1%–−307.3%−1.8%+6.2%

Balance sheet

Each column is one fiscal year, newest first.

Balance sheet of British American Tobacco p.l.c., annual
Line itemFY2025FY2024FY2023FY2022FY2021
Period endDec 31, 2025Dec 31, 2024Dec 31, 2023Dec 31, 2022Dec 31, 2021
Filing20-F20-F20-F20-F20-F
Reported–––––
Cash and equivalentsGBP 3.83BGBP 5.30BGBP 4.66BGBP 3.45BGBP 2.81B
Accounts receivableGBP 3.80BGBP 3.60BGBP 3.62BGBP 4.37BGBP 3.95B
InventoryGBP 4.38BGBP 4.62BGBP 4.94BGBP 5.67BGBP 5.28B
Total current assetsGBP 12.7BGBP 14.3BGBP 14.2BGBP 15.4BGBP 12.8B
Property, plant and equipment––GBP 4.58BGBP 4.87BGBP 4.95B
GoodwillGBP 38.9BGBP 41.1BGBP 41.1BGBP 48.0BGBP 43.2B
Intangible assetsGBP 86.9BGBP 94.3BGBP 95.6BGBP 129.1BGBP 115.6B
Total assetsGBP 109.3B≈ US$147.0BGBP 118.9B≈ US$148.9BGBP 118.7B≈ US$151.3BGBP 153.5B≈ US$185.4BGBP 137.4B≈ US$185.4B
Accounts payableGBP 9.33BGBP 9.55BGBP 9.70BGBP 10.4BGBP 9.58B
Short-term debtGBP 3.36BGBP 4.31BGBP 4.32BGBP 4.41BGBP 3.99B
Total current liabilitiesGBP 14.5BGBP 18.7BGBP 15.7BGBP 17.9BGBP 15.1B
Long-term debtGBP 31.7BGBP 32.6BGBP 35.4BGBP 38.7BGBP 35.7B
Shareholders' equityGBP 48.1BGBP 50.0BGBP 52.9BGBP 75.7BGBP 67.4B

Cash flow statement

Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.

Cash flow statement of British American Tobacco p.l.c., annual
Line itemFY2025FY2024FY2023FY2022FY2021
Period endDec 31, 2025Dec 31, 2024Dec 31, 2023Dec 31, 2022Dec 31, 2021
Filing20-F20-F20-F20-F20-F
Reported–––––
Operating cash flowGBP 6.34B≈ US$8.37BGBP 10.1B≈ US$12.9BGBP 10.7B≈ US$13.3BGBP 10.4B≈ US$12.9BGBP 9.72B≈ US$13.4B
Capital expendituresGBP 551.0MGBP 486.0MGBP 460.0MGBP 523.0MGBP 527.0M
Free cash flowGBP 5.79B≈ US$7.64BGBP 9.64B≈ US$12.3BGBP 10.3B≈ US$12.8BGBP 9.87B≈ US$12.2BGBP 9.19B≈ US$12.6B
Dividends paid––––GBP 5.00B
Share buybacksGBP 1.11BGBP 698.0MGBP 0GBP 2.01BGBP 82.0M
Investing cash flowGBP 1.39BGBP 1.38BGBP -296.0MGBP -705.0MGBP -1.14B
Financing cash flowGBP -8.76BGBP -10.6BGBP -9.31BGBP -8.88BGBP -8.75B
Net change in cashGBP -1.32BGBP 587.0MGBP 1.18BGBP 874.0MGBP -425.0M

Shares outstanding

Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.

Shares outstanding for British American Tobacco p.l.c. by cover date
Cover dateShares outstandingChange in a yearFiling
Dec 31, 20252.31B−1.4%SEC
Dec 31, 20242.35B−4.5%SEC
Dec 31, 20232.46B0.0%SEC
Dec 31, 20222.46B0.0%SEC
Dec 31, 20212.46B0.0%SEC
Dec 31, 20202.46B−100.0%SEC
Dec 31, 20192,457T+100,004,168.6%SEC
Dec 31, 20182.46B0.0%SEC

Notes and known gaps

How these numbers are put together, and what they can't tell you.

  • Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
  • Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
  • ≈ US$ figures convert GBP at FRED H.10 exchange rates (Federal Reserve): the average rate over the period for income and cash flow, and the rate on the period-end date, or the last business day before it, for the balance sheet.

Known gaps

  • Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
  • EPS and share counts are as reported at the time, not adjusted for later stock splits.
  • For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
  • For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
  • Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
  • Depreciation and amortization is missing for some companies that report it under their own XBRL tags.