British American Tobacco revenue and financials
4,024.00 GBpChange from previous close: +0.63%Absolute change: +25.00 GBp
In the fiscal year ended December 2025, British American Tobacco reported revenue of £25.61B (−0.99% year over year). Net income was £7.76B, a net margin of 30.3%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- −0.99%
- 2025 vs 2024
- Net income growth
- +153.06%
- 2025 vs 2024
- Net margin
- 30.3%
- 2024: 11.9%
Financial data
Amounts in millions of GBP; per-share values in GBP; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 6,342 | 10,125 | 10,714 | 10,394 | 9,717 | 9,786 | 8,996 | 10,295 | 5,347 | 4,610 |
| Depreciation and amortization | 2,095 | 2,114 | 23,836 | 943 | 901 | 961 | 994 | 800 | 723 | 494 |
| Capital expenditure | -551 | -486 | -460 | -523 | -527 | -511 | -664 | -758 | -791 | -586 |
| Investing cash flow | 1,387 | 1,375 | -296 | -705 | -1,140 | -783 | -639 | -1,021 | -18,544 | -640 |
| Financing cash flow | -8,762 | -10,632 | -9,314 | -8,878 | -8,749 | -7,897 | -8,593 | -9,630 | 14,759 | -4,229 |
| Dividends paid | -5,292 | -5,269 | -5,114 | -4,975 | -5,003 | -4,946 | -4,598 | -3,343 | -3,465 | -2,910 |
| Share repurchases | -1,112 | -698 | 0.0 | -2,012 | 0.0 | 0.0 | -117 | -139 | -205 | -64.0 |
| Debt issued | 3,814 | 2,404 | 5,134 | 3,267 | 978 | 9,826 | 4,247 | 2,111 | 40,937 | 3,476 |
| Debt repaid | -4,109 | -4,991 | -6,931 | -3,205 | -4,997 | -10,797 | -5,794 | -5,596 | -20,834 | -3,840 |
| Effect of exchange rates | -76.0 | -281 | -292 | 431 | -253 | -253 | -57.0 | -138 | -391 | 180 |
| Net change in cash | -1,317 | 587 | 1,180 | 874 | -425 | 853 | -293 | -494 | 1,171 | -79.0 |
| Free cash flow | 5,791 | 9,639 | 10,254 | 9,871 | 9,190 | — | — | — | — | — |
| Levered free cash flow | 2,994 | 10,278 | 16,090 | 7,121 | 6,587 | 6,627 | 4,097 | 7,886 | 4,519 | 2,642 |