British American Tobacco PLC (BATS) — Defensive Interval Ratio

Latest as of June 2026: 99 days

British American Tobacco PLC (BATS) has a Defensive Interval Ratio of 99 days as of June 2026. Defensive assets of GBX3.86 Billion (cash GBX-, short-term investments GBX15.00 Million, receivables GBX3.85 Billion) cover 99 days of daily cash needs of GBX39.12 Million/day.

Defensive Interval Ratio

99 days
Days of operational coverage

Defensive Assets

GBX3.86 Billion
Cash + ST Investments + Receivables

Daily Cash Need

GBX39.12 Million
Current Liabilities ÷ 365

Current Liabilities

GBX14.28 Billion
GBX

British American Tobacco PLC Defensive Interval Ratio (1995–2025)

This chart shows how British American Tobacco PLC's Defensive Interval Ratio has evolved across 31 annual periods from 1995 to 2025. As of June 2026, the ratio stands at 99 days, meaning defensive assets of GBX3.86 Billion can fund 99 days of operations without new revenue. For the complete balance sheet picture, see balance sheet size of British American Tobacco PLC.

Annual Defensive Interval Ratio for British American Tobacco PLC (1995–2025)

The table below presents the year-by-year Defensive Interval Ratio for British American Tobacco PLC from 1995 to 2025, covering 31 annual filings. Each row shows defensive assets, daily cash need, the DIR in days, and the change in days compared to the prior year. See BATS working capital efficiency to evaluate short-term liquidity relative to the company's equity base.

Year DIR (days) Defensive Assets (GBX) Daily Cash Need Cash ST Investments Change (days)
2025 108 days GBX4.29 Billion GBX39.79 Million/day GBX- GBX16.00 Million ▲ +42 days
2024 66 days GBX3.37 Billion GBX51.35 Million/day GBX- GBX513.00 Million ▼ -37 days
2023 102 days GBX4.39 Billion GBX42.94 Million/day GBX- GBX601.00 Million ▼ -2 days
2022 104 days GBX5.09 Billion GBX48.91 Million/day GBX- GBX579.00 Million ▼ -5 days
2021 109 days GBX4.52 Billion GBX41.49 Million/day GBX- GBX456.00 Million ▲ +14 days
2020 95 days GBX4.04 Billion GBX42.41 Million/day GBX- GBX242.00 Million ▲ +28 days
2019 68 days GBX3.49 Billion GBX51.57 Million/day GBX- GBX123.00 Million ▼ 0 days
2018 68 days GBX3.05 Billion GBX44.74 Million/day GBX- GBX178.00 Million ▼ -11 days
2017 79 days GBX3.37 Billion GBX42.59 Million/day GBX- GBX65.00 Million ▼ -4 days
2016 83 days GBX2.71 Billion GBX32.48 Million/day GBX- GBX15.00 Million ▼ -53 days
2015 137 days GBX3.38 Billion GBX24.67 Million/day GBX- GBX35.00 Million ▲ +48 days
2014 88 days GBX2.12 Billion GBX24.02 Million/day GBX- GBX50.00 Million ▼ -10 days
2013 98 days GBX2.26 Billion GBX23.11 Million/day GBX- GBX54.00 Million ▼ -30 days
2012 128 days GBX2.85 Billion GBX22.31 Million/day GBX- GBX26.00 Million ▲ +6 days
2011 121 days GBX2.61 Billion GBX21.50 Million/day GBX- GBX57.00 Million ▲ +10 days
2010 111 days GBX2.33 Billion GBX20.95 Million/day GBX- GBX58.00 Million ▼ -20 days
2009 132 days GBX2.50 Billion GBX18.95 Million/day GBX- GBX57.00 Million ▲ +24 days
2008 107 days GBX2.61 Billion GBX24.32 Million/day GBX- GBX79.00 Million ▼ -37 days
2007 145 days GBX1.81 Billion GBX12.48 Million/day GBX- GBX75.00 Million ▲ +13 days
2006 132 days GBX1.61 Billion GBX12.20 Million/day GBX- GBX128.00 Million ▲ +33 days
2005 99 days GBX1.58 Billion GBX15.99 Million/day GBX- GBX96.00 Million ▼ -7 days
2004 106 days GBX1.29 Billion GBX12.16 Million/day GBX- GBX86.00 Million ▼ -29 days
2003 135 days GBX2.39 Billion GBX17.68 Million/day GBX- GBX108.00 Million ▼ -19 days
2002 154 days GBX1.99 Billion GBX12.92 Million/day GBX- GBX163.00 Million ▲ +14 days
2001 140 days GBX2.24 Billion GBX15.98 Million/day GBX- GBX331.00 Million ▼ -3 days
2000 143 days GBX2.16 Billion GBX15.07 Million/day GBX- GBX221.00 Million ▼ -35 days
1999 179 days GBX2.40 Billion GBX13.42 Million/day GBX- GBX768.00 Million ▲ +72 days
1998 107 days GBX1.18 Billion GBX11.04 Million/day GBX- GBX185.00 Million ▼ -10 days
1997 117 days GBX2.03 Billion GBX17.35 Million/day GBX- GBX166.00 Million ▼ -66 days
1996 183 days GBX1.95 Billion GBX10.65 Million/day GBX- GBX293.00 Million ▲ +1 days
1995 182 days GBX1.83 Billion GBX10.09 Million/day GBX- GBX221.00 Million —
DIR = (Cash + Short-term Investments + Net Receivables) / (Daily Cash Expenses)