British American Tobacco p.l.c.
British American Tobacco p.l.c. provides tobacco and nicotine products to consumers in the United States, Europe, Latin America, Canada, the Asia-Pacific, the Middle East, Central Asia, Caucasus, and Africa. The company offers vapour products; heated products, which consists of a battery-powered device and a plant-based substance consumable that is heated; modern oral products, such as nicotine p… Read more
British American Tobacco p.l.c. (BTI) - Net Assets
Latest net assets as of December 2025: $48.15 Billion USD
Based on the latest financial reports, British American Tobacco p.l.c. (BTI) has net assets worth $48.15 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($109.29 Billion) and total liabilities ($61.15 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $48.15 Billion |
| % of Total Assets | 44.05% |
| Annual Growth Rate | 14.33% |
| 5-Year Change | -28.57% |
| 10-Year Change | 472.75% |
| Growth Volatility | 252.42 |
British American Tobacco p.l.c. - Net Assets Trend (1995–2025)
This chart illustrates how British American Tobacco p.l.c.'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for British American Tobacco p.l.c. (1995–2025)
The table below shows the annual net assets of British American Tobacco p.l.c. from 1995 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $48.15 Billion | -3.70% |
| 2024-12-31 | $49.99 Billion | -5.55% |
| 2023-12-31 | $52.93 Billion | -30.08% |
| 2022-12-31 | $75.71 Billion | +12.33% |
| 2021-12-31 | $67.40 Billion | +7.06% |
| 2020-12-31 | $62.95 Billion | -1.88% |
| 2019-12-31 | $64.16 Billion | -2.33% |
| 2018-12-31 | $65.69 Billion | +7.64% |
| 2017-12-31 | $61.03 Billion | +625.98% |
| 2016-12-31 | $8.41 Billion | +67.05% |
| 2015-12-31 | $5.03 Billion | -13.45% |
| 2014-12-31 | $5.81 Billion | -16.16% |
| 2013-12-31 | $6.93 Billion | -10.85% |
| 2012-12-31 | $7.78 Billion | -8.20% |
| 2011-12-31 | $8.47 Billion | -11.25% |
| 2010-12-31 | $9.55 Billion | +20.68% |
| 2009-12-31 | $7.91 Billion | +9.66% |
| 2008-12-31 | $7.21 Billion | +1.78% |
| 2007-12-31 | $7.09 Billion | +6.00% |
| 2006-12-31 | $6.69 Billion | -2.75% |
| 2005-12-31 | $6.88 Billion | +12.42% |
| 2004-12-31 | $6.12 Billion | +33.38% |
| 2003-12-31 | $4.59 Billion | -71.82% |
| 2002-12-31 | $16.28 Billion | +220.19% |
| 2001-12-31 | $5.08 Billion | -7.85% |
| 2000-12-31 | $5.52 Billion | +4.55% |
| 1999-12-31 | $5.28 Billion | +1263.31% |
| 1998-12-31 | $387.00 Million | +57.96% |
| 1997-12-31 | $245.00 Million | -76.17% |
| 1996-12-31 | $1.03 Billion | +18.57% |
| 1995-12-31 | $867.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to British American Tobacco p.l.c.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2759500000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $27.31 Billion | 56.99% |
| Common Stock | $577.00 Million | 1.20% |
| Other Comprehensive Income | $-2.25 Billion | -4.71% |
| Other Components | $22.29 Billion | 46.51% |
| Total Equity | $47.93 Billion | 100.00% |
British American Tobacco p.l.c. Competitors by Market Cap
The table below lists competitors of British American Tobacco p.l.c. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Accenture plc
NYSE:ACN
|
$119.84 Billion |
|
Stryker Corporation
NYSE:SYK
|
$119.88 Billion |
|
Danaher Corporation
NYSE:DHR
|
$120.45 Billion |
|
Bristol-Myers Squibb Company
NYSE:BMY
|
$120.67 Billion |
|
Contemporary Amperex Technology Co Ltd Class A
SHE:300750
|
$118.06 Billion |
|
Intesa Sanpaolo SpA PK
PINK:ISNPY
|
$117.88 Billion |
|
Progressive Corp
NYSE:PGR
|
$117.47 Billion |
|
TotalEnergies SE
PINK:TTFNF
|
$117.16 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in British American Tobacco p.l.c.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 49,643,000,000 to 47,926,000,000, a change of -1,717,000,000 (-3.5%).
- Net income of 7,764,000,000 contributed positively to equity growth.
- Dividend payments of 5,123,211,513 reduced retained earnings.
- Share repurchases of 1,147,294,216 reduced equity.
- Other comprehensive income decreased equity by 29,582,000,000.
- Other factors increased equity by 26,371,505,729.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $7.76 Billion | +16.2% |
| Dividends Paid | $5.12 Billion | -10.69% |
| Share Repurchases | $1.15 Billion | -2.39% |
| Other Comprehensive Income | $-29.58 Billion | -61.72% |
| Other Changes | $26.37 Billion | +55.03% |
| Total Change | $- | -3.46% |
Book Value vs Market Value Analysis
This analysis compares British American Tobacco p.l.c.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.67x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 261.54x to 2.67x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1995-12-31 | $0.22 | $58.09 | x |
| 1996-12-31 | $0.31 | $58.09 | x |
| 1997-12-31 | $0.11 | $58.09 | x |
| 1998-12-31 | $0.03 | $58.09 | x |
| 1999-12-31 | $2.13 | $58.09 | x |
| 2000-12-31 | $2.25 | $58.09 | x |
| 2001-12-31 | $2.10 | $58.09 | x |
| 2002-12-31 | $0.00 | $58.09 | x |
| 2003-12-31 | $1.93 | $58.09 | x |
| 2004-12-31 | $-0.10 | $58.09 | x |
| 2005-12-31 | $2.93 | $58.09 | x |
| 2006-12-31 | $2.85 | $58.09 | x |
| 2007-12-31 | $3.03 | $58.09 | x |
| 2008-12-31 | $3.07 | $58.09 | x |
| 2009-12-31 | $3.36 | $58.09 | x |
| 2010-12-31 | $4.07 | $58.09 | x |
| 2011-12-31 | $3.61 | $58.09 | x |
| 2012-12-31 | $3.30 | $58.09 | x |
| 2013-12-31 | $2.93 | $58.09 | x |
| 2014-12-31 | $2.43 | $58.09 | x |
| 2015-12-31 | $2.16 | $58.09 | x |
| 2016-12-31 | $3.61 | $58.09 | x |
| 2017-12-31 | $26.85 | $58.09 | x |
| 2018-12-31 | $28.90 | $58.09 | x |
| 2019-12-31 | $28.22 | $58.09 | x |
| 2020-12-31 | $27.67 | $58.09 | x |
| 2021-12-31 | $29.63 | $58.09 | x |
| 2022-12-31 | $33.28 | $58.09 | x |
| 2023-12-31 | $23.58 | $58.09 | x |
| 2024-12-31 | $22.31 | $58.09 | x |
| 2025-12-31 | $21.79 | $58.09 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently British American Tobacco p.l.c. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 16.20%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 30.32%
- • Asset Turnover: 0.23x
- • Equity Multiplier: 2.28x
- Recent ROE (16.20%) is below the historical average (56.33%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1995 | 170.97% | 12.70% | 0.84x | 16.02x | $809.70 Million |
| 1996 | 140.94% | 13.64% | 0.89x | 11.54x | $917.90 Million |
| 1997 | 168.16% | 5.76% | 0.84x | 34.90x | $387.50 Million |
| 1998 | 540.63% | 4.86% | 0.96x | 116.44x | $339.60 Million |
| 1999 | 11.53% | 6.13% | 0.56x | 3.37x | $73.90 Million |
| 2000 | 13.58% | 6.34% | 0.62x | 3.48x | $182.30 Million |
| 2001 | 21.25% | 8.88% | 0.66x | 3.62x | $534.60 Million |
| 2002 | 22.22% | 4.67% | 0.00x | 3140.98x | $633.50K |
| 2003 | 14.47% | 2.46% | 1.36x | 4.32x | $194.90 Million |
| 2004 | 0.00% | 26.25% | 0.61x | 0.00x | $2.85 Billion |
| 2005 | 26.65% | 18.95% | 0.49x | 2.87x | $1.10 Billion |
| 2006 | 29.35% | 19.42% | 0.55x | 2.75x | $1.25 Billion |
| 2007 | 31.00% | 21.26% | 0.53x | 2.73x | $1.44 Billion |
| 2008 | 35.38% | 20.27% | 0.44x | 3.97x | $1.76 Billion |
| 2009 | 35.64% | 19.09% | 0.53x | 3.50x | $1.95 Billion |
| 2010 | 31.27% | 19.34% | 0.53x | 3.03x | $1.96 Billion |
| 2011 | 37.90% | 20.10% | 0.57x | 3.32x | $2.28 Billion |
| 2012 | 51.41% | 25.29% | 0.56x | 3.66x | $3.09 Billion |
| 2013 | 58.85% | 25.58% | 0.57x | 4.05x | $3.24 Billion |
| 2014 | 56.53% | 22.30% | 0.53x | 4.75x | $2.56 Billion |
| 2015 | 87.66% | 34.22% | 0.40x | 6.44x | $3.80 Billion |
| 2016 | 56.81% | 32.89% | 0.36x | 4.86x | $3.83 Billion |
| 2017 | 61.73% | 191.85% | 0.14x | 2.32x | $31.45 Billion |
| 2018 | 9.22% | 24.63% | 0.17x | 2.24x | $-512.40 Million |
| 2019 | 8.93% | 22.04% | 0.18x | 2.21x | $-686.20 Million |
| 2020 | 10.21% | 24.83% | 0.19x | 2.20x | $132.70 Million |
| 2021 | 10.14% | 26.48% | 0.19x | 2.05x | $90.90 Million |
| 2022 | 8.84% | 24.10% | 0.18x | 2.04x | $-870.80 Million |
| 2023 | -27.33% | -52.66% | 0.23x | 2.26x | $-19.62 Billion |
| 2024 | 6.18% | 11.86% | 0.22x | 2.40x | $-1.90 Billion |
| 2025 | 16.20% | 30.32% | 0.23x | 2.28x | $2.97 Billion |
Industry Comparison
This section compares British American Tobacco p.l.c.'s net assets metrics with peer companies in the Tobacco industry.
Industry Context
- Industry: Tobacco
- Average net assets among peers: $6,502,495,958,989
- Average return on equity (ROE) among peers: -1.18%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| British American Tobacco p.l.c. (BTI) | $48.15 Billion | 170.97% | 1.27x | $118.62 Billion |
| American Cannabis Company Inc (AMMJ) | $-2.10 Million | 0.00% | 0.00x | $92.90K |
| 1606 Corp. (CBDW) | $-1.41 Million | 0.00% | 0.00x | $850.32K |
| Charlie's Holdings Inc. (CHUC) | $-6.00 Million | 0.00% | 0.00x | $6.72 Million |
| Cartel Blue Inc (CRTL) | $248.02K | -148.21% | 3.77x | $191.92 |
| Eco-Growth Strategies Inc (ECGS) | $-8.24 Million | 0.00% | 0.00x | $1.10K |
| PT Gudang Garam Tbk (GDNGY) | $58.52 Trillion | 13.07% | 0.34x | $1.07 Billion |
| Globrands Ltd (GLBGF) | $47.77 Million | 124.48% | 9.33x | $53.17 Million |
| Greenlane Holdings Inc (GNLN) | $-11.06 Million | 0.00% | 0.00x | $709.26K |
| Gold Flora Corp (GRAMW) | $-23.58 Million | 0.00% | 0.00x | $287.49K |