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). See British American Tobacco PLC short-term liquidity ratio to evaluate short-term liquidity relative to the company's equity base.
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 cash flow to debt ratio of British American Tobacco PLC to assess how comfortably operating cash covers total debt obligations.
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 British American Tobacco PLC stock valuation.
| 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 | — |