British American Tobacco PLC (BATS) — Tangible Net Worth Ratio
British American Tobacco PLC (BATS) has a Tangible Net Worth Ratio of -79.2% as of June 2026. This metric is calculated by deducting intangible assets (GBX87.09 Billion) from net assets (GBX48.59 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. Also explore British American Tobacco PLC (BATS) net asset momentum to track the company's year-over-year net asset growth rate.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
British American Tobacco PLC Tangible Net Worth Ratio (1995–2025)
This chart shows how British American Tobacco PLC's Tangible Net Worth Ratio has changed across 30 annual periods from 1995 to 2025. As of June 2026, the ratio stands at -79.2%, reflecting net assets of GBX48.59 Billion with intangible assets of GBX87.09 Billion GBX. For live market cap and overall valuation, see British American Tobacco PLC (BATS) total market value.
Annual Tangible Net Worth Ratio for British American Tobacco PLC (1995–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for British American Tobacco PLC from 1995 to 2025, covering 30 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. Explore British American Tobacco PLC capital reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.
| Year | Tangible NW Ratio | Net Assets (GBX) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 0.3% | GBX48.15 Billion | GBX48.02 Billion | GBX109.29 Billion | ▲ +6.6 pp |
| 2024 | -6.3% | GBX49.99 Billion | GBX53.15 Billion | GBX118.90 Billion | ▼ -3.4 pp |
| 2023 | -2.9% | GBX52.93 Billion | GBX54.47 Billion | GBX118.72 Billion | ▲ +4.2 pp |
| 2022 | -7.1% | GBX75.71 Billion | GBX81.12 Billion | GBX153.55 Billion | ▲ +0.3 pp |
| 2021 | -7.5% | GBX67.40 Billion | GBX72.43 Billion | GBX137.37 Billion | ▲ +6.9 pp |
| 2020 | -14.4% | GBX62.95 Billion | GBX72.02 Billion | GBX137.69 Billion | ▲ +1.7 pp |
| 2019 | -16.1% | GBX64.16 Billion | GBX74.47 Billion | GBX141.00 Billion | ▲ +2.4 pp |
| 2018 | -18.5% | GBX65.69 Billion | GBX77.85 Billion | GBX146.34 Billion | ▲ +2.2 pp |
| 2017 | -20.7% | GBX61.03 Billion | GBX73.64 Billion | GBX141.04 Billion | ▼ -107.7 pp |
| 2016 | 87.0% | GBX8.41 Billion | GBX1.09 Billion | GBX39.77 Billion | ▲ +9.1 pp |
| 2015 | 77.9% | GBX5.03 Billion | GBX1.11 Billion | GBX31.52 Billion | ▼ -5.6 pp |
| 2014 | 83.5% | GBX5.81 Billion | GBX962.00 Million | GBX26.17 Billion | ▼ -2.8 pp |
| 2013 | 86.2% | GBX6.93 Billion | GBX956.00 Million | GBX26.88 Billion | ▼ -2.0 pp |
| 2012 | 88.2% | GBX7.78 Billion | GBX917.00 Million | GBX27.33 Billion | ▲ +129.7 pp |
| 2011 | -41.5% | GBX8.47 Billion | GBX11.99 Billion | GBX27.12 Billion | ▼ -11.0 pp |
| 2010 | -30.5% | GBX9.55 Billion | GBX12.46 Billion | GBX27.86 Billion | ▲ +24.1 pp |
| 2009 | -54.6% | GBX7.91 Billion | GBX12.23 Billion | GBX26.61 Billion | ▲ +16.1 pp |
| 2008 | -70.7% | GBX7.21 Billion | GBX12.32 Billion | GBX27.55 Billion | ▼ -56.4 pp |
| 2007 | -14.3% | GBX7.09 Billion | GBX8.11 Billion | GBX18.76 Billion | ▼ -2.5 pp |
| 2006 | -11.8% | GBX6.69 Billion | GBX7.48 Billion | GBX17.78 Billion | ▲ +4.4 pp |
| 2005 | -16.1% | GBX6.88 Billion | GBX7.99 Billion | GBX19.05 Billion | ▲ +9.7 pp |
| 2004 | -25.9% | GBX6.12 Billion | GBX7.70 Billion | GBX17.77 Billion | ▲ +48.8 pp |
| 2003 | -74.7% | GBX4.59 Billion | GBX8.01 Billion | GBX18.86 Billion | ▼ -45.9 pp |
| 2001 | -28.8% | GBX5.08 Billion | GBX6.55 Billion | GBX17.23 Billion | ▲ +1.0 pp |
| 2000 | -29.8% | GBX5.52 Billion | GBX7.16 Billion | GBX17.74 Billion | ▼ -28.6 pp |
| 1999 | -1.2% | GBX5.28 Billion | GBX5.34 Billion | GBX16.23 Billion | ▲ +155.2 pp |
| 1998 | -156.3% | GBX387.00 Million | GBX992.00 Million | GBX7.45 Billion | ▲ +504.1 pp |
| 1997 | -660.4% | GBX245.00 Million | GBX1.86 Billion | GBX8.55 Billion | ▼ -599.4 pp |
| 1996 | -61.0% | GBX1.03 Billion | GBX1.66 Billion | GBX8.09 Billion | ▲ +25.2 pp |
| 1995 | -86.2% | GBX867.00 Million | GBX1.61 Billion | GBX8.06 Billion | — |