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STOCK COMPARISON

Philip Morris International vs British American Tobacco p.l.c.: Fair Value & Quality

Both stocks run through our valuation models. Here is how Philip Morris International (PM) and British American Tobacco p.l.c. (BTI) compare, as of Aug 14, 2026.

As of Aug 14, 2026, Fair Value Calculator sees British American Tobacco p.l.c. as the more attractively valued of the two: Philip Morris International trades at $189 versus a fair value of $104 (-45%), while British American Tobacco p.l.c. trades at $57.35 versus $61.07 (+6%).
Philip Morris International
PM · USD · Consumer Staples
-45%
upside to fair value
overvalued
Price$189
Fair Value$104
Quality79/100
British American Tobacco p.l.c.
BTI · USD · Consumer Staples
+6%
upside to fair value
fairly valued
Price$57.35
Fair Value$61.07
Quality74/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Philip Morris InternationalBritish American Tobacco p.l.c.
Valuation
25.4×P/E (TTM)12.3×
7.13×P/S (TTM)5.06×
P/B2.70×
18.1×EV/EBITDA13.4×
2.52×PEG1.57×
3.2%Dividend yield5.6%
$5.76Dividend per share$2.45
Profitability
27%Net margin30%
36%Operating margin35%
Return on equity16%
15%Return on assets5%
Growth
9%Revenue growth (YoY)0%
8.6%Avg. growth/yr (3Y)-2.5%
7.2%Avg. growth/yr (5Y)-0.1%
Balance & size
Debt / equity0.65×
$296BMarket cap$130B
healthyGrowth qualityweak

British American Tobacco p.l.c. leads: 5 to 6 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Philip Morris Internationalof which business quality 74 · market factors 65 British American Tobacco p.l.c.of which business quality 67 · market factors 55
ProfitabilityMargins and returns on capital today
76
51
Quality GrowthAre margins and returns improving?
63
65
CashflowEarnings quality: real cash, not paper profit
81
73
Fin. StrengthBalance sheet, leverage, solvency risk
62
46
InvestmentDisciplined investing over empire-building
85
100
Low VolatilityCalm price path (market factor)
86
89
MomentumPrice trend over the last 3–12 months (market factor)
47
37
52W MomentumDistance to the 52-week high (market factor)
73
45
Net IssuanceBuybacks instead of dilution
80
92

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Philip Morris International

DCF Models$95.84
Earnings-Based$66.23
Dividend Discount$82.37
Multiples$115
Growth DCF$59.46
Economic Profit$71.82
Growth Earnings$122

22 of 22 models see the stock below the current price.

British American Tobacco p.l.c.

DCF Models$100
Earnings-Based$126
Dividend Discount$41.76
Multiples$61.97
Asset-Based$14.87
Growth DCF$49.43
Economic Profit$33.45
Growth Earnings$165

11 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Philip Morris International
Bear $62.46Fair Value $104Bull $148
$189 = current price (white tick)
British American Tobacco p.l.c.
Bear $44.26Fair Value $61.07Bull $97.65
$57.35 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Philip Morris International · Consumer Staples

Quality score79 · Top 25%
Fair value upside-45% · bottom 25%

British American Tobacco p.l.c. · Consumer Staples

Quality score74 · Top 25%
Fair value upside+6% · above median

Bottom line

As of Aug 14, 2026, Fair Value Calculator sees British American Tobacco p.l.c. as the more attractively valued of the two: Philip Morris International trades at $189 versus a fair value of $104 (-45%), while British American Tobacco p.l.c. trades at $57.35 versus $61.07 (+6%).

Philip Morris International has the higher quality score (79/100).

See the full analysis →

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.