(BMT) British American Tobacco - Overview
Exchange: XETRA •
Country: United Kingdom •
Currency: EUR •
Type: Common Stock •
ISIN: GB0002875804
Stock: Vapour, Heated, Cigarettes, Snus, Moist
Total Rating 59
Risk 86
Buy Signal -0.08
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 6.58% |
| Yield on Cost 5y | 15.04% |
| Yield CAGR 5y | 2.74% |
| Payout Consistency | 92.6% |
| Payout Ratio | 170.8% |
| Risk 5d forecast | |
|---|---|
| Volatility | 19.4% |
| Relative Tail Risk | -7.33% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.43 |
| Alpha | 37.70 |
| Character TTM | |
|---|---|
| Beta | -0.079 |
| Beta Downside | 0.167 |
| Drawdowns 3y | |
|---|---|
| Max DD | 22.38% |
| CAGR/Max DD | 1.04 |
Description: BMT British American Tobacco January 27, 2026
British American Tobacco p.l.c. (XETRA:BMT) is a global tobacco and nicotine company that markets combustible cigarettes, vapor-based devices, heated-tobacco products, and modern oral nicotine items across the Americas, Europe, Asia-Pacific, the Middle East, Africa and the United States. Its portfolio includes well-known brands such as Vuse, glo, Velo, Camel, Dunhill, Lucky Strike, and Newport, and distribution is primarily through retail outlets.
Key recent metrics (FY 2023):
• Revenue of £31.6 bn, up 2.1 % YoY, driven largely by a 7 % increase in next-generation product sales, which now represent ≈ 27 % of total net revenue.
• Operating margin of 23.5 %, reflecting cost-efficiency initiatives and a modest decline in cigarette volumes (-1.3 %).
• Net debt stood at £38.5 bn, giving a net-debt-to-EBITDA ratio of ≈ 2.2×, consistent with industry averages.
• Dividend yield of ≈ 7.9 % (2023) and a 10-year dividend growth track record, highlighting the company’s focus on shareholder returns despite tightening regulation.
For a deeper quantitative assessment of BMT’s valuation dynamics, you may find ValueRay’s analytical tools useful.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 9.79b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA -1.47 > 1.0 |
| NWC/Revenue: -4.81% < 20% (prev -3.63%; Δ -1.18% < -1%) |
| CFO/TA 0.11 > 3% & CFO 12.50b > Net Income 9.79b |
| Net Debt (-4.40b) to EBITDA (13.70b): -0.32 < 3 |
| Current Ratio: 0.87 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.21b) vs 12m ago -1.14% < -2% |
| Gross Margin: 78.23% > 18% (prev 0.82%; Δ 7740 % > 0.5%) |
| Asset Turnover: 38.53% > 50% (prev 34.47%; Δ 4.06% > 0%) |
| Interest Coverage Ratio: 3.26 > 6 (EBITDA TTM 13.70b / Interest Expense TTM 2.91b) |
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 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) |
| Altman-Z'' Score: 1.89 = BBB |
Beneish M -3.08
| DSRI: 0.85 (Receivables 3.48b/3.79b, Revenue 44.11b/40.92b) |
| GMI: 1.05 (GM 78.23% / 82.07%) |
| AQI: 0.99 (AQ_t 0.84 / AQ_t-1 0.84) |
| SGI: 1.08 (Revenue 44.11b / 40.92b) |
| TATA: -0.02 (NI 9.79b - CFO 12.50b) / TA 110.23b) |
| Beneish M-Score: -3.08 (Cap -4..+1) = AA |
What is the price of BMT shares?
As of February 07, 2026, the stock is trading at EUR 53.00 with a total of 44,568 shares traded.
Over the past week, the price has changed by +4.54%, over one month by +13.49%, over three months by +13.81% and over the past year by +41.91%.
Over the past week, the price has changed by +4.54%, over one month by +13.49%, over three months by +13.81% and over the past year by +41.91%.
Is BMT a buy, sell or hold?
British American Tobacco has no consensus analysts rating.
What are the forecasts/targets for the BMT price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 58.4 | 10.1% |
BMT Fundamental Data Overview February 03, 2026
Market Cap USD = 129.83b (110.01b EUR * 1.1801 EUR.USD)
Market Cap GBP = 95.14b (110.01b EUR * 0.8648 EUR.GBP)
P/E Trailing = 31.4907
P/E Forward = 11.9332
P/S = 4.2981
P/B = 2.0055
P/EG = 0.4172
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 = 125.57b GBP (95.14b + Debt 35.33b - CCE 4.89b)
Interest Coverage Ratio = 3.26 (Ebit TTM 9.50b / Interest Expense TTM 2.91b)
EV/FCF = 9.92x (Enterprise Value 125.57b / FCF TTM 12.66b)
FCF Yield = 10.08% (FCF TTM 12.66b / Enterprise Value 125.57b)
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 = 1.14 (Enterprise Value 125.57b / 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 = 8.56% (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 = 4.59% (E(95.14b)/V(130.47b) * Re(5.63%) + D(35.33b)/V(130.47b) * Rd(2.16%) * (1-Tc(0.18)))
Discount Rate = 5.63% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -0.57%
[DCF Debug] Terminal Value 87.45% ; FCFF base≈13.75b ; Y1≈15.51b ; Y5≈20.91b
Fair Price DCF = 285.9 (EV 615.87b - Net Debt -4.40b = Equity 620.28b / Shares 2.17b; r=5.90% [WACC]; 5y FCF grow 14.94% → 2.90% )
Revenue Correlation: 28.47 | Revenue CAGR: 20.02% | SUE: N/A | # QB: 0
Market Cap GBP = 95.14b (110.01b EUR * 0.8648 EUR.GBP)
P/E Trailing = 31.4907
P/E Forward = 11.9332
P/S = 4.2981
P/B = 2.0055
P/EG = 0.4172
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 = 125.57b GBP (95.14b + Debt 35.33b - CCE 4.89b)
Interest Coverage Ratio = 3.26 (Ebit TTM 9.50b / Interest Expense TTM 2.91b)
EV/FCF = 9.92x (Enterprise Value 125.57b / FCF TTM 12.66b)
FCF Yield = 10.08% (FCF TTM 12.66b / Enterprise Value 125.57b)
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 = 1.14 (Enterprise Value 125.57b / 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 = 8.56% (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 = 4.59% (E(95.14b)/V(130.47b) * Re(5.63%) + D(35.33b)/V(130.47b) * Rd(2.16%) * (1-Tc(0.18)))
Discount Rate = 5.63% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -0.57%
[DCF Debug] Terminal Value 87.45% ; FCFF base≈13.75b ; Y1≈15.51b ; Y5≈20.91b
Fair Price DCF = 285.9 (EV 615.87b - Net Debt -4.40b = Equity 620.28b / Shares 2.17b; r=5.90% [WACC]; 5y FCF grow 14.94% → 2.90% )
Revenue Correlation: 28.47 | Revenue CAGR: 20.02% | SUE: N/A | # QB: 0