British American Tobacco PLC (BATS) — Tangible Net Worth Ratio
British American Tobacco PLC (BATS) has a Tangible Net Worth Ratio of 0.3% as of December 2025. This metric is calculated by deducting intangible assets (GBX48.02 Billion) from net assets (GBX48.15 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. See working capital position of British American Tobacco PLC to evaluate short-term liquidity relative to the company's equity base.
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 December 2025, the ratio stands at 0.3%, reflecting net assets of GBX48.15 Billion with intangible assets of GBX48.02 Billion GBX. See British American Tobacco PLC defensive interval ratio to measure how many days the company can operate on defensive assets alone.
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. For the full company profile including market capitalisation, see British American Tobacco PLC (BATS) market capitalisation.
| 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 | — |