British American Tobacco p.l.c. (BTI) Fair Value & Analysis
Consumer Defensive · US · Market cap $130B · ISIN US1104481072
What is British American Tobacco p.l.c. really worth?
British American Tobacco p.l.c.
BTI · US
A solid business, currently priced close to our fair value of $61.07.
Strengths
Risks
For context
Fair value as of: Aug 30, 2026
From 26 valuation models · updated 6 days ago
Share price −5.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- A fairly wide model range ($44.26 to $97.65) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range $23.49 – $65.79 · fair‑value band $44.26 – $97.65 · the $55.97 price screens below the $61.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.
Analysis
British American Tobacco p.l.c. (BTI) currently trades at $55.97, while our model-based Fair Value estimate is $61.07, implying the stock looks roughly 8.3% fairly valued today. The Quality Score stands at 74/100 (solid quality), in the Consumer Defensive sector. Bull case: the Growth Earnings group reads highest at a median of $164.65 per share, and 15 of the 26 models we run sit above the $55.97 price. Bear case: the Asset-Based group reads lowest at $14.87, and 11 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, British American Tobacco p.l.c. generated revenue of $25.6B at a net margin of 30.3%. Revenue grew 0.1% year over year. It earns a return on equity of 15.8%. Net debt stands at $31.2B. Fundamentals as of Aug 30, 2026
Our scenario range runs from $44.26 (bear case) to $97.65 (bull case); at $55.97, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 17% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −18% fair-value upside, at 9%, BTI screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $1.47 per share, which is 2.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings ($164.65) versus Asset-Based ($14.87). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 67 · Market factors (momentum, volatility) 57
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
British American Tobacco p.l.c. provides tobacco and nicotine products to consumers in the United States, Europe, Latin America, Canada, the Asia-Pacific, the Middle East, Central Asia, Caucasus, and Africa.
Full company description
British American Tobacco p.l.c. provides tobacco and nicotine products to consumers in the United States, Europe, Latin America, Canada, the Asia-Pacific, the Middle East, Central Asia, Caucasus, and Africa. The company offers vapour products; heated products, which consists of a battery-powered device and a plant-based substance consumable that is heated; modern oral products, such as nicotine pouches; combustibles, including cigarette sticks and other tobacco stick products; traditional oral products, such as snus and moist snuff; and fine cut/roll-your-own tobacco products. It sells its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Natural American Spirit, and Camel Snus brands, as well as Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, and State Express 555 brands. The company distributes its products to retail outlets. British American Tobacco p.l.c. was founded in 1902 and is headquartered in London, the United Kingdom.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
British American Tobacco p.l.c. reported revenue of $25.6B in FY2025 versus $25.7B in FY2021, a compound −0.1%/yr. Reported net income was $7.8B in FY2025, compounding +3.4%/yr from FY2021.
of which total revenue +7.0 % · buybacks/dilution +0.2 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
Watch BTI: get an alert when its fair value changes →
Peer Group
Tobacco · 36 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Tobacco median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Tobacco stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Philip Morris International Inc PM | $190.48 | $103.71 | −46% |
| Altria Group MO | $68.65 | $81.81 | +19% |
| ITC Limited 500875 | ₹279.50 | ₹212.74 | −24% |
| KT&G Corporation 033780 | 175,500 KRW | 110,656 KRW | −37% |
| PT Hanjaya Mandala Sampoerna Tbk, HMSP | 745.00 IDR | 1,041 IDR | +40% |
| Smoore International Holdings 6969 | HK$9.24 | HK$4.19 | −55% |
| Godfrey Phillips India Limited GODFRYPHLP | ₹2,160 | ₹1,194 | −45% |
| PT Gudang Garam Tbk, GGRM | 20,675 IDR | 16,988 IDR | −18% |
| TABAK TABAK | 19,100 CZK | 23,215 CZK | +22% |
| China Tobacco International (HK) Company 6055 | HK$23.86 | HK$24.09 | +1% |
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