British American Tobacco PLC (BATS) — Capital Reinvestment Ratio
British American Tobacco PLC (BATS) has a Capital Reinvestment Ratio of 0.05x as of June 2026, meaning it reinvests 0% of its operating cash flow (GBX2.58 Billion) in capital expenditures (GBX134.00 Million). Check British American Tobacco PLC tangible equity quality to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
British American Tobacco PLC Capital Reinvestment Ratio (1995–2025)
This chart tracks British American Tobacco PLC's Capital Reinvestment Ratio across 31 annual periods. For the full cash flow conversion analysis, see cash flow conversion of British American Tobacco PLC.
Annual Capital Reinvestment Ratio for British American Tobacco PLC (1995–2025)
Year-by-year Capital Reinvestment Ratio for British American Tobacco PLC from 1995 to 2025. See British American Tobacco PLC (BATS) free cash flow to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (GBX) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.11x | GBX4.91 Billion | GBX551.00 Million | ▲ +86.8% |
| 2024 | 0.06x | GBX10.12 Billion | GBX608.00 Million | ▲ +39.9% |
| 2023 | 0.04x | GBX10.71 Billion | GBX460.00 Million | ▼ -32.0% |
| 2022 | 0.06x | GBX10.39 Billion | GBX656.00 Million | ▼ -17.7% |
| 2021 | 0.08x | GBX9.72 Billion | GBX745.00 Million | ▼ -0.6% |
| 2020 | 0.08x | GBX9.79 Billion | GBX755.00 Million | ▼ -14.8% |
| 2019 | 0.09x | GBX9.00 Billion | GBX815.00 Million | ▲ +23.0% |
| 2018 | 0.07x | GBX10.29 Billion | GBX758.00 Million | ▼ -50.2% |
| 2017 | 0.15x | GBX5.35 Billion | GBX791.00 Million | ▲ +16.4% |
| 2016 | 0.13x | GBX4.61 Billion | GBX586.00 Million | ▲ +24.2% |
| 2015 | 0.10x | GBX4.72 Billion | GBX483.00 Million | ▼ -28.1% |
| 2014 | 0.14x | GBX3.72 Billion | GBX529.00 Million | ▲ +10.0% |
| 2013 | 0.13x | GBX4.44 Billion | GBX574.00 Million | ▼ -13.7% |
| 2012 | 0.15x | GBX4.43 Billion | GBX664.00 Million | ▼ -4.3% |
| 2011 | 0.16x | GBX3.94 Billion | GBX617.00 Million | ▲ +5.7% |
| 2010 | 0.15x | GBX3.94 Billion | GBX584.00 Million | ▼ -15.0% |
| 2009 | 0.17x | GBX3.17 Billion | GBX554.00 Million | ▲ +4.7% |
| 2008 | 0.17x | GBX3.26 Billion | GBX544.00 Million | ▼ -21.8% |
| 2007 | 0.21x | GBX2.26 Billion | GBX482.00 Million | ▼ -5.9% |
| 2006 | 0.23x | GBX1.88 Billion | GBX425.00 Million | ▲ +19.0% |
| 2005 | 0.19x | GBX2.00 Billion | GBX381.00 Million | ▼ -23.5% |
| 2004 | 0.25x | GBX1.34 Billion | GBX333.00 Million | ▼ -29.8% |
| 2003 | 0.35x | GBX1.21 Billion | GBX428.00 Million | ▼ -30.0% |
| 2002 | 0.51x | GBX967.00 Million | GBX490.00 Million | ▲ +21.5% |
| 2001 | 0.42x | GBX1.24 Billion | GBX515.00 Million | ▲ +24.4% |
| 2000 | 0.34x | GBX1.08 Billion | GBX362.00 Million | ▲ +76.3% |
| 1999 | 0.19x | GBX1.01 Billion | GBX193.00 Million | ▼ -91.4% |
| 1998 | 2.20x | GBX165.00 Million | GBX363.00 Million | ▲ +112.1% |
| 1997 | 1.04x | GBX347.00 Million | GBX360.00 Million | ▲ +36.9% |
| 1996 | 0.76x | GBX475.00 Million | GBX360.00 Million | ▲ +14.6% |
| 1995 | 0.66x | GBX546.00 Million | GBX361.00 Million | — |