British American Tobacco PLC (BATS) — Free Cash Flow Generation Index
British American Tobacco PLC (BATS) has a Free Cash Flow Generation Index of 0.87x as of December 2025. Free cash flow of GBX2.95 Billion represents 1% of operating cash flow (GBX3.40 Billion). Read British American Tobacco PLC balance sheet liabilities for a breakdown of total debt and financial obligations.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
British American Tobacco PLC Free Cash Flow Generation Index (1995–2025)
Historical FCF Generation Index trend for British American Tobacco PLC across 31 annual periods. Explore British American Tobacco PLC capex to cash flow ratio to see what proportion of operating cash flow is directed to capital expenditures.
Annual Free Cash Flow Generation for British American Tobacco PLC (1995–2025)
Year-by-year Free Cash Flow Generation Index for British American Tobacco PLC. For the full company profile including market capitalisation, see market cap of British American Tobacco PLC.
| Year | FCG Index | Free Cash Flow (GBX) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.89x | GBX4.36 Billion | GBX4.91 Billion | GBX551.00 Million | ▼ -5.5% |
| 2024 | 0.94x | GBX9.52 Billion | GBX10.12 Billion | GBX608.00 Million | ▼ -1.8% |
| 2023 | 0.96x | GBX10.25 Billion | GBX10.71 Billion | GBX460.00 Million | ▲ +2.2% |
| 2022 | 0.94x | GBX9.74 Billion | GBX10.39 Billion | GBX656.00 Million | ▲ +1.5% |
| 2021 | 0.92x | GBX8.97 Billion | GBX9.72 Billion | GBX745.00 Million | ▲ +0.1% |
| 2020 | 0.92x | GBX9.03 Billion | GBX9.79 Billion | GBX755.00 Million | ▲ +1.5% |
| 2019 | 0.91x | GBX8.18 Billion | GBX9.00 Billion | GBX815.00 Million | ▼ -1.8% |
| 2018 | 0.93x | GBX9.54 Billion | GBX10.29 Billion | GBX758.00 Million | ▲ +8.7% |
| 2017 | 0.85x | GBX4.56 Billion | GBX5.35 Billion | GBX791.00 Million | ▼ -2.4% |
| 2016 | 0.87x | GBX4.02 Billion | GBX4.61 Billion | GBX586.00 Million | ▼ -2.8% |
| 2015 | 0.90x | GBX4.24 Billion | GBX4.72 Billion | GBX483.00 Million | ▲ +4.7% |
| 2014 | 0.86x | GBX3.19 Billion | GBX3.72 Billion | GBX529.00 Million | ▼ -1.5% |
| 2013 | 0.87x | GBX3.86 Billion | GBX4.44 Billion | GBX574.00 Million | ▲ +2.4% |
| 2012 | 0.85x | GBX3.76 Billion | GBX4.43 Billion | GBX664.00 Million | ▲ +0.8% |
| 2011 | 0.84x | GBX3.32 Billion | GBX3.94 Billion | GBX617.00 Million | ▼ -1.0% |
| 2010 | 0.85x | GBX3.35 Billion | GBX3.94 Billion | GBX584.00 Million | ▲ +3.2% |
| 2009 | 0.83x | GBX2.62 Billion | GBX3.17 Billion | GBX554.00 Million | ▼ -5.7% |
| 2008 | 0.88x | GBX2.86 Billion | GBX3.26 Billion | GBX544.00 Million | ▲ +11.2% |
| 2007 | 0.79x | GBX1.78 Billion | GBX2.26 Billion | GBX482.00 Million | ▲ +1.7% |
| 2006 | 0.77x | GBX1.45 Billion | GBX1.88 Billion | GBX425.00 Million | ▼ -4.5% |
| 2005 | 0.81x | GBX1.62 Billion | GBX2.00 Billion | GBX381.00 Million | ▲ +7.8% |
| 2004 | 0.75x | GBX1.00 Billion | GBX1.34 Billion | GBX333.00 Million | ▲ +16.4% |
| 2003 | 0.65x | GBX779.00 Million | GBX1.21 Billion | GBX428.00 Million | ▲ +30.8% |
| 2002 | 0.49x | GBX477.00 Million | GBX967.00 Million | GBX490.00 Million | ▼ -15.4% |
| 2001 | 0.58x | GBX720.00 Million | GBX1.24 Billion | GBX515.00 Million | ▼ -12.3% |
| 2000 | 0.66x | GBX718.00 Million | GBX1.08 Billion | GBX362.00 Million | ▼ -17.9% |
| 1999 | 0.81x | GBX822.00 Million | GBX1.01 Billion | GBX193.00 Million | ▲ +167.5% |
| 1998 | -1.20x | GBX-198.00 Million | GBX165.00 Million | GBX363.00 Million | ▼ -3103.1% |
| 1997 | -0.04x | GBX-13.00 Million | GBX347.00 Million | GBX360.00 Million | ▼ -115.5% |
| 1996 | 0.24x | GBX115.00 Million | GBX475.00 Million | GBX360.00 Million | ▼ -28.5% |
| 1995 | 0.34x | GBX185.00 Million | GBX546.00 Million | GBX361.00 Million | — |