British American Tobacco p.l.c. (BATS) Fair Value & Analysis
Consumer Defensive · GB · Market cap 95.7B GBX
Fair value as of: Jun 24, 2026
From 25 valuation models · updated 6 days ago
Share price +1.9% over the past month.
Price vs Fair Value (12 months)
12‑month range £32.06 – £48.64 · fair‑value band £25.35 – £77.24 · the £45.85 price screens above the £41.73 fair value. As of Jun 24, 2026.
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British American Tobacco p.l.c. (BATS) currently trades at £45.85, while our model-based Fair Value estimate is £41.73 — implying the stock looks roughly 9.0% overvalued today. We read business quality at 95/100 (high quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).
Over the trailing twelve months, British American Tobacco p.l.c. generated revenue of £25.6B at a net margin of 30.3%. Revenue grew 0.1% year over year. It earns a return on equity of 15.8%. Net debt stands at £31.9B. Fundamentals as of Jun 24, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.
About the company
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 pouches; combustibles, including cigarette sticks and other tobacco stick products; traditional oral products, such as snus and moist snuff; and fine cut/roll-your-own tobacco products. It sells its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Natural American Spirit, and Camel Snus brands, as well as Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, and State Express 555 brands. The company distributes its products to retail outlets. British American Tobacco p.l.c. was founded in 1902 and is headquartered in London, the Unite…
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
British American Tobacco p.l.c. reported revenue of £25.6B in FY2025 versus £25.7B in FY2021, a compound −0.1%/yr. Reported net income was £7.8B in FY2025, compounding +3.4%/yr from FY2021.
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Similar stocks
6 more Tobacco stocks, each showing price versus our Fair Value estimate (as of Jun 24, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Philip Morris International Inc PM | $178.29 | $105.35 | -41% |
| Altria Group MO | 1,253 MXN | 1,259 MXN | +0% |
| Japan Tobacco Inc JAPAF | $37.74 | $28.77 | -24% |
| ITC Limited ITC | ₹283.65 | ₹243.28 | -14% |
| Imperial Brands PLC IMBBY | $36.49 | $56.53 | +55% |
| KT&G Corporation 033780 | 174,900 KRW | 106,289 KRW | -39% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.