British American Tobacco p.l.c. (BTI)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from BTI's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from British American Tobacco p.l.c.'s 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $25.7B | $27.7B | $27.3B | $25.9B | $25.6B |
| Net income | $6.8B | $6.7B | -$14.4B | $3.1B | $7.8B |
| Free cash flow | $9.0B | $9.7B | $10.1B | $9.5B | $5.6B |
| EPS (diluted) | $2.96 | $2.92 | -$6.47 | $1.36 | $3.49 |
| Operating margin | 39.8% | 38.1% | -57.7% | 10.6% | 39.0% |
Where the revenue comes from
Revenue by segments, fiscal 2019.
Superinvestors who own BTI
From each investor's latest 13F filing (what a 13F shows). 5 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Jean-Marie Eveillard First Eagle Investment Management |
Added | $106M | 0.18% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Trimmed | $16M | 0.01% | Q2 2026 |
| Lee Ainslie Maverick Capital |
Added | $2M | 0.02% | Q2 2026 |
| Jay Petschek Corsair Capital Management |
New position | $679,545 | 0.08% | Q2 2026 |
| Charles Brandes Brandes Investment Partners, LP |
Trimmed | $437,817 | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by British American Tobacco p.l.c.'s executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
Are British American Tobacco p.l.c. insiders buying the stock?
No open-market insider purchases of BTI in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own British American Tobacco p.l.c.?
5 of the superinvestors Investingly tracks hold BTI in their latest 13F, including Jean-Marie Eveillard, Cliff Asness, Lee Ainslie.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.