BATS

British American Tobacco (BATS)

Company name:	British American Tobacco Plc
Company Description:	A group engaged in the manufacture; distribution or sale of tobacco products
COD:	BATS	Trading Currency:	GBX
Market Sector:	FE10	ISIN:	GB0002875804
Market Segment:	SET1	Share Type:	DE
WWW Address:	http://www.bat.com/	Description:	ORD 25P
Industry Sector:	TOBACCO

Price	Variação [%]	Bid	Offer	Abertura	MAX	MIN	Volume
3,036.50	6.5 [0.21]	3,035.50	3,036.50	3,040.50	3,043.50	3,029.50	2,681,648
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52 Semanas
69,664.76	2,294.25	0.62	296.90	215.60	10.23	7.10	3,645.00 - 2,915.00

British American Tobacco Key Figures

Key Figures
(at previous day's close)
Market Cap.	69,664.76	m
Shares In Issue	2,294.25	m
Prev. Close	3,030.00
PE Ratio	10.23
Dividend Yield	7.10	%
EPS - basic	296.90	p
Dividend PS	215.60	p
Dividend Cover	1.38
Cash Flow PS	423.54	p
Return On Equity (ROE)	10.40	%
Operating Margin	35.68	%
PEG Factor	1.69
EPS Growth Rate	6.04	%
Dividends PS Growth Rate	2.47	%
Dívida Líquida	67,155.00	m
Gross Gearing	50.93	%
Quick Assets	7,711.00	m
Net Working Capital	-2,154.00	m
Intangibles / Fixed Assets	92.96	%
Turnover PS	1,119.50	p
Pre-Tax Profit PS	399.39	p
Retained Profit PS	82.69	p
Cash PS	122.44	p
Net Cash PS	-537.65	p
Net Tangible Asset Value PS *	-2,188.48	p
Net Asset Value PS	2,937.83	p
Spread	1.00 (0.03%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

British American Tobacco Balance Sheet

%1$s Balance Sheet

Share Price Performance

Share Price Performance
Sample Period ^†	MAX	MIN
1 Semana	3,142.50	3,018.50
4 Semanas	3,375.50	3,018.50
12 Semanas	3,453.00	3,018.50
1 Ano	3,645.00	2,915.00

Share Price Chart (5 years)

British American Tobacco Historic Returns

%1$s Historic Returns
Período ^†	Abertura	VAB	%	Abertura Média	Vol Diário Médio [m]	Volume [m]	VWAP
1 Semana	3,106.50	-70.00	-2.25	3,018.50	6.25		3,079.35
4 Semanas	3,298.00	-261.50	-7.93	3,018.50	4.33		3,146.52
12 Semanas	3,353.00	-316.50	-9.44	3,018.50	3.22		3,243.40
26 Semanas	3,455.00	-418.50	-12.11	3,018.50	2.93		3,306.27
1 Ano	3,151.50	-115.00	-3.65	2,915.00	3.63		3,319.90
3 Anos	3,387.50	-351.00	-10.36	2,362.50	3.88		2,948.49
5 Anos	4,923.50	-1,887.00	-38.33	2,336.50	4.06		3,089.10
† periods calculated are whole weeks rather than calendar months

British American Tobacco Key Management Ratios

DEEPER ANALYSIS

British American Tobacco Investment Ratios

%1$s Investment Ratios
(Market value analysis) at previous day's close
PQ Ratio	58.46
PE Ratio	10.23
Tobin's Q Ratio	0.51
Tobin's Q Ratio (excl. intangibles)	3.16
Dividend Yield	7.10	%
Market-to-Book Ratio	1.06
Price-to-Pre-Tax Profit PS	7.60
Price-to-Retained Profit PS	36.72
Price-to-Cash Flow PS	7.17
Price-to-Sales PS	2.71
Price-to-Net Tangible Asset Value PS	-1.44
Price-to-Cash PS	24.80
Net Working Capital PS	-93.89
Price Pct to Working Capital PS	-32.34	%
Earnings Yield	9.78	%
Average PE	10.32
Years in average	4
PE to PE average	99.08	%

British American Tobacco Financial Ratios

%1$s Financial Ratios
(Leverage Ratios)
Debt Ratio	44.85	%
Debt-to-Equity Ratio	0.81
Debt-to-Equity Ratio (excl. Intgbl)	-1.14
Debt-to-Equity Market Value	0.79
Net Gearing	48.89	%
Net Gearing (excl. Intangibles)	308.90	%
Gross Gearing	50.93	%
Gross Gearing (excl. Intangibles)	321.82	%
Gearing Under 1 Year	11.02	%
Gearing Under 1 Year (excl. Intgbl)	69.66	%
Assets/Equity	2.04
Cash/Equity	4.17
(Liquidity Ratios)
Net Working Capital to Total Assets	-1.57	%
Current Ratio	0.86
Quick Ratio (Acid Test)	0.51
Liquidity Ratio	0.19
Cash & Equiv/Current Assets	21.62	%
(Solvency Ratios)
Enterprise Value	123,660.76	m
CFO/Sales	0.38
CFO/Attributable Profit	1.43
CFO/Assets	0.07
CFO/Debt	0.14
Total Debt/Equity Market Value	1.00
Total Debt/Sales	2.72
Total Debt/Pre-Tax Profit	7.64
Total Debt	69,964.00	m
Total Debt/Net Current Assets	-32.48	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	5.94	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	4.13	%
Earn drops > 5% in 10yrs	4

Beta coefficients
Beta (60-Mnth)	Beta (36-Mnth)
0.6195	0.3256

British American Tobacco Operating Ratios

%1$s Operating Ratios
(Profitability Ratios)
Return On Capital Employed (ROCE)	7.50	%
Return On Assets (ROA)	4.95	%
Net Profit Margin	26.48	%
Assets Turnover	0.19
Return On Equity (ROE)	10.40	%
Return On Investment (ROI)	5.56	%
Dividend Payout Ratio	72.62	%
Plowback Ratio	27.38	%
Growth from Plowback Ratio	2.91	%
Net Income Of Revenues	7.39	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.40
Fixed Assets Turnover	0.21
Current Assets Turnover	1.92
Net Working Capital Turnover
Inventory Turnover	4.56
(Other Operating Ratios)
Total Assets-to-Sales	5.35
Debtors-to-Sales	18.43	%
Debt Collection Period	67.25	Dias

British American Tobacco Dividends

%1$s Dividends
Data	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
27 Jul 2022	Interim	GBX	54.45	30/12/2021	30/06/2022	07/07/2022	08/07/2022	17/08/2022	-
14 Mar 2022	Interim	GBX	54.45	01/12/2021	31/03/2022	24/03/2022	25/03/2022	04/05/2022	-
13 Dez 2021	Interim	GBX	53.90	31/12/2020	31/12/2021	23/12/2021	24/12/2021	09/02/2022	215.60
20 Set 2021	Interim	GBX	53.90	30/05/2021	30/09/2021	30/09/2021	01/10/2021	11/11/2021	-
28 Jul 2021	Interim	GBX	53.90	30/12/2020	30/06/2021	08/07/2021	09/07/2021	19/08/2021	-
15 Mar 2021	Interim	GBX	53.90	01/12/2020	31/03/2021	25/03/2021	26/03/2021	12/05/2021	-
07 Dez 2020	Interim	GBX	52.60	31/12/2019	31/12/2020	17/12/2020	18/12/2020	03/02/2021	210.40
21 Set 2020	Interim	GBX	52.60	30/05/2020	30/09/2020	01/10/2020	02/10/2020	12/11/2020	-
31 Jul 2020	Interim	GBX	52.60	30/12/2019	30/06/2020	09/07/2020	10/07/2020	19/08/2020	-
17 Mar 2020	Interim	GBX	52.60	01/12/2019	31/03/2020	26/03/2020	27/03/2020	13/05/2020	-
12 Dez 2019	Interim	GBX	50.75	31/12/2018	31/12/2019	24/12/2019	27/12/2019	06/02/2020	203.00
23 Set 2019	Interim	GBX	50.75	30/05/2019	30/09/2019	03/10/2019	04/10/2019	14/11/2019	-
01 Ago 2019	Interim	GBX	50.75	30/12/2018	30/06/2019	27/06/2019	28/06/2019	08/08/2019	-
11 Mar 2019	Interim	GBX	50.75	01/12/2018	31/03/2019	21/03/2019	22/03/2019	08/05/2019	-
13 Dez 2018	Interim	GBX	48.80	31/12/2017	31/12/2018	27/12/2018	28/12/2018	07/02/2019	195.20
25 Set 2018	Interim	GBX	48.80	30/05/2018	30/09/2018	04/10/2018	05/10/2018	15/11/2018	-
26 Jul 2018	Interim	GBX	48.80	30/12/2017	30/06/2018	28/06/2018	29/06/2018	08/08/2018	-
22 Fev 2018	Interim	GBX	48.80	01/12/2017	31/03/2018	22/03/2018	23/03/2018	09/05/2018	-
05 Dez 2017	Interim	GBX	43.60	31/12/2016	31/12/2017	28/12/2017	29/12/2017	08/02/2018	100.10
27 Jul 2017	Interim	GBX	56.50	30/12/2016	30/06/2017	17/08/2017	18/08/2017	28/09/2017	-
23 Fev 2017	Final	GBX	118.10	31/12/2015	31/12/2016	16/03/2017	17/03/2017	04/05/2017	169.40
28 Jul 2016	Interim	GBX	51.30	30/12/2015	30/06/2016	18/08/2016	19/08/2016	28/09/2016	-
25 Fev 2016	Final	GBX	104.60	31/12/2014	31/12/2015	17/03/2016	18/03/2016	05/05/2016	154.00
29 Jul 2015	Interim	GBX	49.40	30/12/2014	30/06/2015	20/08/2015	21/08/2015	30/09/2015	-
26 Fev 2015	Final	GBX	100.60	31/12/2013	31/12/2014	19/03/2015	20/03/2015	07/05/2015	148.10
30 Jul 2014	Interim	GBX	47.50	30/12/2013	30/06/2014	20/08/2014	22/08/2014	30/09/2014	-
27 Fev 2014	Final	GBX	97.40	31/12/2012	31/12/2013	12/03/2014	14/03/2014	08/05/2014	142.40
31 Jul 2013	Interim	GBX	45.00	30/12/2012	30/06/2013	21/08/2013	23/08/2013	30/09/2013	-
28 Fev 2013	Final	GBX	92.70	31/12/2011	31/12/2012	13/03/2013	15/03/2013	08/05/2013	134.90
25 Jul 2012	Interim	GBX	42.20	30/12/2011	30/06/2012	15/08/2012	17/08/2012	26/09/2012	-
23 Fev 2012	Final	GBX	88.40	31/12/2010	31/12/2011	07/03/2012	09/03/2012	03/05/2012	126.50
27 Jul 2011	Interim	GBX	38.10	30/12/2010	30/06/2011	17/08/2011	19/08/2011	28/09/2011	-
24 Fev 2011	Final	GBX	81.00	31/12/2009	31/12/2010	09/03/2011	11/03/2011	05/05/2011	114.20
28 Jul 2010	Interim	GBX	33.20	30/12/2009	30/06/2010	18/08/2010	20/08/2010	29/09/2010	-
25 Fev 2010	Final	GBX	71.60	31/12/2008	31/12/2009	10/03/2010	12/03/2010	06/05/2010	99.50
30 Jul 2009	Interim	GBX	27.90	30/12/2008	30/06/2009	19/08/2009	21/08/2009	29/09/2009	-
26 Fev 2009	Final	GBX	61.60	31/12/2007	31/12/2008	11/03/2009	13/03/2009	05/06/2009	83.70
31 Jul 2008	Interim	GBX	22.10	30/12/2007	30/06/2008	06/08/2008	08/08/2008	17/09/2008	-
28 Fev 2008	Final	GBX	47.60	31/12/2006	31/12/2007	05/03/2008	07/03/2008	07/05/2008	66.20
26 Jul 2007	Interim	GBX	18.60	30/06/2006	30/06/2007	01/08/2007	03/08/2007	12/09/2007	-
25 Fev 2007	Final	GBX	40.20	31/12/2005	31/12/2006	07/03/2007	09/03/2007	03/05/2007	55.90
27 Jul 2006	Interim	GBX	15.70	30/12/2005	30/06/2006	02/08/2006	04/08/2006	13/09/2006	-
28 Fev 2006	Final	GBX	33.00	31/12/2004	31/12/2005	08/03/2006	10/03/2006	04/05/2006	47.00
29 Jul 2005	Interim	GBX	14.00	30/12/2004	30/06/2005	03/08/2005	05/08/2005	14/09/2005	-
01 Mar 2005	Final	GBX	29.20	31/12/2003	31/12/2004	09/03/2005	11/03/2005	04/05/2005	41.90
27 Jul 2004	Interim	GBX	12.70	30/12/2003	30/06/2004	-	-	15/09/2004	-
24 Fev 2004	Final	GBX	27.00	31/12/2002	31/12/2003	03/03/2004	05/03/2004	27/04/2004	38.80
29 Jul 2003	Interim	GBX	11.80	30/12/2002	30/06/2003	06/08/2003	08/08/2003	15/09/2003	-
25 Fev 2003	Final	GBX	24.50	31/12/2001	31/12/2002	05/03/2003	07/03/2003	22/04/2003	35.20
30 Jul 2002	Interim	GBX	10.70	30/12/2001	30/06/2002	07/08/2002	09/08/2002	16/09/2002	-
26 Fev 2002	Final	GBX	22.30	31/12/2000	31/12/2001	06/03/2002	08/03/2002	19/04/2002	32.00
31 Jul 2001	Interim	GBX	9.70	30/12/2000	30/06/2001	08/08/2001	10/08/2001	17/09/2001	-
28 Fev 2001	Final	GBX	20.00	31/12/1999	31/12/2000	07/03/2001	09/03/2001	08/05/2001	29.00
01 Ago 2000	Interim	GBX	9.00	30/12/1999	30/06/2000	07/08/2000	11/08/2000	18/09/2000	-
07 Mar 2000	Final	GBX	17.90	31/12/1998	31/12/1999	13/03/2000	17/03/2000	03/05/2000	26.20
12 Jan 1999	Special	GBX	4.00	31/12/1998	31/12/1999	29/03/1999	06/04/1999	01/07/1999	-
03 Ago 1999	Interim	GBX	4.30	30/12/1998	30/06/1999	09/08/1999	13/08/1999	27/09/1999	-
12 Jan 1999	Final	GBX	16.00	31/12/1997	31/12/1998	29/03/1999	06/04/1999	01/07/1999	24.00
27 Out 1998	Interim	GBX	8.00	30/12/1997	30/06/1998	02/11/1998	06/11/1998	05/01/1999	-

British American Tobacco Fundamentals

Profit and Loss Account
	31 Dez 2018 (GBP)		31 Dez 2019 (GBP)		31 Dez 2020 (GBP)		31 Dez 2021 (GBP)
turnover	24,492.00	100.00%	25,877.00	100.00%	25,776.00	100.00%	25,684.00	100.00%	m
pre tax profit	8,351.00	34.10%	7,912.00	30.58%	8,672.00	33.64%	9,163.00	35.68%	m
attributable profit	6,032.00	24.63%	5,704.00	22.04%	6,400.00	24.83%	6,801.00	26.48%	m
retained profit	1,685.00	6.88%	1,106.00	4.27%	1,655.00	6.42%	1,897.00	7.39%	m
eps - basic (p)	264.00		249.70		280.00		296.90
eps - diluted (p)	263.20		249.00		278.90		296.90
dividends per share	195.20		203.00		210.40		215.60

British American Tobacco Balance Sheet

Balance Sheet
	31 Dez 2018 (GBP)		31 Dez 2019 (GBP)		31 Dez 2020 (GBP)		31 Dez 2021 (GBP)


	31 Dez 2018 (GBP)		31 Dez 2019 (GBP)		31 Dez 2020 (GBP)		31 Dez 2021 (GBP)
ASSETS
fixed assets	5,166.00	3.53%	5,518.00	3.91%	5,060.00	3.67%	4,953.00	3.61%	m
intangibles	124,013.00	84.74%	118,787.00	84.24%	115,343.00	83.77%	115,625.00	84.17%	m
fixed investments	3,836.00	2.62%	3,190.00	2.26%	3,571.00	2.59%	3,797.00	2.76%	m
current assets - other	5.00	0.00%	3.00	0.00%	3.00	0.00%	13.00	0.01%	m
stocks	6,029.00	4.12%	6,094.00	4.32%	5,998.00	4.36%	5,279.00	3.84%	m
debtors	4,691.00	3.21%	4,887.00	3.47%	4,576.00	3.32%	4,889.00	3.56%	m
cash & securities	2,602.00	1.78%	2,526.00	1.79%	3,139.00	2.28%	2,809.00	2.04%	m

TOTAL	146,342.00	100%	141,005.00	100%	137,690.00	100%	137,365.00	100%	m

LIABILITIES
creditors - short	16,329.00	11.16%	18,823.00	13.35%	15,478.00	11.24%	15,144.00	11.02%	m
creditors - long	64,325.00	43.96%	58,022.00	41.15%	59,257.00	43.04%	54,820.00	39.91%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	80,654.00	55.11%	76,845.00	54.50%	74,735.00	54.28%	69,964.00	50.93%	m

EQUITY
ord cap, reserves	65,444.00	44.72%	63,902.00	45.32%	62,673.00	45.52%	65,416.00	47.62%	m
prefs, minorities	244.00	0.17%	258.00	0.18%	282.00	0.20%	1,985.00	1.45%	m

TOTAL	65,688.00	44.89%	64,160.00	45.50%	62,955.00	45.72%	67,401.00	49.07%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

British American Tobacco Cash Flow Statement

%1$s Cash Flow Statement
	31 Dez 2018 (GBP)	31 Dez 2019 (GBP)	31 Dez 2020 (GBP)	31 Dez 2021 (GBP)
Operating CF	10,295.00	8,996.00	9,786.00	9,717.00	m
Pre-Financing CF	9,274.00	8,357.00	9,003.00	8,577.00	m
Retained CF	-356.00	-236.00	853.00	-425.00	m

British American Tobacco Brokers

%1$s Brokers
Name	Activity	Type	Mnemonic	Code
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC