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STOCK COMPARISON

British American Tobacco p.l.c. vs Procter & Gamble: Fair Value & Quality

Both stocks run through our valuation models. Here is how British American Tobacco p.l.c. (BTI) and Procter & Gamble (PG) compare, as of Oct 19, 2026.

As of Oct 19, 2026, Fair Value Calculator sees British American Tobacco p.l.c. as the more attractively valued of the two: British American Tobacco p.l.c. trades at $60.00 versus a fair value of $96.20 (+60.3%), while Procter & Gamble trades at $159 versus $117 (−26.3%).
British American Tobacco p.l.c.
BTI · USD · Consumer Staples
+60.3%
upside to fair value
undervalued
Price$60.00
Fair Value$96.20
Quality74/100
Procter & Gamble
PG · USD · Consumer Staples
−26.3%
upside to fair value
overvalued
Price$159
Fair Value$117
Quality75/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

British American Tobacco p.l.c.Procter & Gamble
Valuation
13.0×P/E (TTM)24.1×
11.5×Forward P/E21.5×
n/aMedian P/E at FY-end (10 FY, ex one-offs where documented)24.5×
5.15×P/S (TTM)4.44×
2.75× · book value is mostly goodwillP/B7.11× · book value is mostly goodwill
13.6×EV/EBITDA16.1×
1.57×PEG3.79×
+60.3%Fair value upside−26.3%
4.1%Dividend yield2.7%
$2.45Dividend per share$4.26
Profitability
34.6%Operating margin22.1%
1.01×EBIT margin trend (5Y)0.96×
15.8%Return on equity30.3%
7.1%Return on assets12.7%
Growth
0.1%Revenue growth (YoY)1.5%
-2.5%Avg. growth/yr (3Y)2.0%
-0.1%Avg. growth/yr (5Y)2.7%
+7.2%Value creation/yr+6.5%
Balance & size
5.5×Interest coverage (EBIT/interest)22.5×
0.65×Debt / equity0.42×
$132BMarket cap$386B
weakGrowth qualityhealthy
Procter & Gamble, median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings, FY2026 ex one-offs: 24.5.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

British American Tobacco p.l.c. leads: 8 to 7 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

British American Tobacco p.l.c. Procter & Gamble
ProfitabilityHow much profit the company makes from its sales and capital
51
72
Quality GrowthAre margins and returns getting better?
65
37
CashflowDo the profits arrive as real cash?
73
68
Financial strengthDebt, balance sheet and risk of trouble
46
71
InvestmentDoes it invest with discipline instead of growing at any price?
100
83
Low VolatilityHow calm the share price moves, does not count
88
95
MomentumPrice trend of the last 3 to 12 months, does not count
48
49
Near the 52-week highDistance to the 52-week high, does not count
63
64
New sharesBuys back shares or issues new ones?
92
92

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyBritish American Tobacco p.l.c.Price $60.00Procter & GamblePrice $159
DCF Models+83.2%above the price$110−27.1%below the price$116
Earnings-Based+109.8%above the price$126−44.3%below the price$88.70
Dividend Discount−18.5%below the price$48.90−55.9%below the price$70.32
Multiples+1.8%close to the price$61.07−26.3%below the price$117
Growth DCF+25.4%above the price$75.27−40.9%below the price$94.10
Economic Profit−31.0%below the price$41.41−56.2%below the price$69.77
Growth Earnings+174.4%above the price$165−29.0%below the price$113
Minimum−31.0%below the price$41.41−56.2%below the price$69.77
Maximum+174.4%above the price$165−26.3%below the price$117
Median+25.4%above the price$75.27−40.9%below the price$94.10
Geometric mean+33.5%above the price$80.13−41.2%below the price$93.65

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

British American Tobacco p.l.c.: 10 of 24 models see the stock below the current price.

Procter & Gamble: 22 of 22 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

British American Tobacco p.l.c.
Price $60.00
Fair Value $96.20
Bear $46.79Bull $214
Procter & Gamble
Price $159
Fair Value $117
Bear $76.55Bull $149

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

British American Tobacco p.l.c. · Consumer Staples

Quality score74 · Top 25%
Fair value upside+60.3% · Top 25%

Procter & Gamble · Consumer Staples

Quality score75 · Top 25%
Fair value upside−26.3% · below median

Bottom line

As of Oct 19, 2026, Fair Value Calculator sees British American Tobacco p.l.c. as the more attractively valued of the two: British American Tobacco p.l.c. trades at $60.00 versus a fair value of $96.20 (+60.3%), while Procter & Gamble trades at $159 versus $117 (−26.3%).

Procter & Gamble has the higher quality score (75/100).

Open British American Tobacco p.l.c. live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.