BRITISH AMERICAN TOBACCO PLC (BMT.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:BMT • GB0002875804

52.4 EUR
+1 (+1.95%)
Last: Feb 3, 2026, 07:00 PM
Fundamental Rating

4

Overall BMT gets a fundamental rating of 4 out of 10. We evaluated BMT against 4 industry peers in the Tobacco industry. BMT has only an average score on both its financial health and profitability. BMT is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • In the past year BMT was profitable.
  • BMT had a positive operating cash flow in the past year.
  • Of the past 5 years BMT 4 years were profitable.
  • Each year in the past 5 years BMT had a positive operating cash flow.
BMT.DE Yearly Net Income VS EBIT VS OCF VS FCFBMT.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B -10B 20B 30B

1.2 Ratios

  • With a Return On Assets value of 2.80%, BMT is not doing good in the industry: 75.00% of the companies in the same industry are doing better.
  • BMT has a better Return On Equity (6.59%) than 75.00% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 2.67%, BMT is doing worse than 75.00% of the companies in the same industry.
  • BMT had an Average Return On Invested Capital over the past 3 years of 7.24%. This is significantly below the industry average of 20.94%.
  • The last Return On Invested Capital (2.67%) for BMT is well below the 3 year average (7.24%), which needs to be investigated, but indicates that BMT had better years and this may not be a problem.
Industry RankSector Rank
ROA 2.8%
ROE 6.59%
ROIC 2.67%
ROA(3y)-1.73%
ROA(5y)0.88%
ROE(3y)-4.1%
ROE(5y)1.61%
ROIC(3y)7.24%
ROIC(5y)6.81%
BMT.DE Yearly ROA, ROE, ROICBMT.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60

1.3 Margins

  • BMT has a Profit Margin of 12.06%. This is comparable to the rest of the industry: BMT outperforms 50.00% of its industry peers.
  • BMT's Profit Margin has declined in the last couple of years.
  • BMT's Operating Margin of 13.95% is in line compared to the rest of the industry. BMT outperforms 50.00% of its industry peers.
  • BMT's Operating Margin has been stable in the last couple of years.
  • BMT's Gross Margin of 83.38% is amongst the best of the industry. BMT outperforms 100.00% of its industry peers.
  • In the last couple of years the Gross Margin of BMT has remained more or less at the same level.
Industry RankSector Rank
OM 13.95%
PM (TTM) 12.06%
GM 83.38%
OM growth 3Y-2.51%
OM growth 5Y0.86%
PM growth 3Y-23.49%
PM growth 5Y-11.66%
GM growth 3Y0.09%
GM growth 5Y-0.13%
BMT.DE Yearly Profit, Operating, Gross MarginsBMT.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 100 150

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4

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BMT is destroying value.
  • Compared to 1 year ago, BMT has less shares outstanding
  • The number of shares outstanding for BMT has been reduced compared to 5 years ago.
  • Compared to 1 year ago, BMT has an improved debt to assets ratio.
BMT.DE Yearly Shares OutstandingBMT.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
BMT.DE Yearly Total Debt VS Total AssetsBMT.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B 150B

2.2 Solvency

  • Based on the Altman-Z score of 1.46, we must say that BMT is in the distress zone and has some risk of bankruptcy.
  • BMT's Altman-Z score of 1.46 is in line compared to the rest of the industry. BMT outperforms 50.00% of its industry peers.
  • The Debt to FCF ratio of BMT is 4.06, which is a neutral value as it means it would take BMT, 4.06 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of BMT (4.06) is comparable to the rest of the industry.
  • A Debt/Equity ratio of 0.68 indicates that BMT is somewhat dependend on debt financing.
  • BMT's Debt to Equity ratio of 0.68 is amongst the best of the industry. BMT outperforms 100.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.68
Debt/FCF 4.06
Altman-Z 1.46
ROIC/WACC0.34
WACC7.84%
BMT.DE Yearly LT Debt VS Equity VS FCFBMT.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B

2.3 Liquidity

  • BMT has a Current Ratio of 0.87. This is a bad value and indicates that BMT is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Current ratio of BMT (0.87) is better than 100.00% of its industry peers.
  • A Quick Ratio of 0.55 indicates that BMT may have some problems paying its short term obligations.
  • BMT's Quick ratio of 0.55 is fine compared to the rest of the industry. BMT outperforms 75.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.87
Quick Ratio 0.55
BMT.DE Yearly Current Assets VS Current LiabilitesBMT.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

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3

3. Growth

3.1 Past

  • BMT shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -2.23%.
  • BMT shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 2.28% yearly.
  • Looking at the last year, BMT shows a decrease in Revenue. The Revenue has decreased by -2.24% in the last year.
  • The Revenue has been decreasing by -0.01% on average over the past years.
EPS 1Y (TTM)-2.23%
EPS 3Y3.29%
EPS 5Y2.28%
EPS Q2Q%-4.31%
Revenue 1Y (TTM)-2.24%
Revenue growth 3Y0.24%
Revenue growth 5Y-0.01%
Sales Q2Q%-2.2%

3.2 Future

  • The Earnings Per Share is expected to grow by 4.75% on average over the next years.
  • Based on estimates for the next years, BMT will show a small growth in Revenue. The Revenue will grow by 2.08% on average per year.
EPS Next Y-5.04%
EPS Next 2Y0.46%
EPS Next 3Y2.73%
EPS Next 5Y4.75%
Revenue Next Year-1.7%
Revenue Next 2Y0.71%
Revenue Next 3Y1.65%
Revenue Next 5Y2.08%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
BMT.DE Yearly Revenue VS EstimatesBMT.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 5B 10B 15B 20B 25B
BMT.DE Yearly EPS VS EstimatesBMT.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1 2 3 4

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4

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 12.78, BMT is valued correctly.
  • Compared to the rest of the industry, the Price/Earnings ratio of BMT is on the same level as its industry peers.
  • Compared to an average S&P500 Price/Earnings ratio of 28.18, BMT is valued rather cheaply.
  • A Price/Forward Earnings ratio of 12.40 indicates a correct valuation of BMT.
  • BMT's Price/Forward Earnings ratio is in line with the industry average.
  • BMT is valuated cheaply when we compare the Price/Forward Earnings ratio to 25.51, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 12.78
Fwd PE 12.4
BMT.DE Price Earnings VS Forward Price EarningsBMT.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • BMT's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. BMT is more expensive than 75.00% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, BMT is valued a bit cheaper than 75.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 11.37
EV/EBITDA 20.25
BMT.DE Per share dataBMT.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20 -20

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)5.6
EPS Next 2Y0.46%
EPS Next 3Y2.73%

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6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 5.55%, BMT is a good candidate for dividend investing.
  • BMT's Dividend Yield is a higher than the industry average which is at 5.31.
  • BMT's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
Industry RankSector Rank
Dividend Yield 5.55%

5.2 History

  • The dividend of BMT has a limited annual growth rate of 3.19%.
Dividend Growth(5Y)3.19%
Div Incr Years7
Div Non Decr Years7
BMT.DE Yearly Dividends per shareBMT.DE Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

  • BMT pays out 168.94% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of BMT is growing, but earnings are growing more, so the dividend growth is sustainable.
DP168.94%
EPS Next 2Y0.46%
EPS Next 3Y2.73%
BMT.DE Yearly Income VS Free CF VS DividendBMT.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B -10B 20B 30B
BMT.DE Dividend Payout.BMT.DE Dividend Payout, showing the Payout Ratio.BMT.DE Dividend Payout.PayoutRetained Earnings

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BRITISH AMERICAN TOBACCO PLC

FRA:BMT (2/3/2026, 7:00:00 PM)

52.4

+1 (+1.95%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryTobacco
Earnings (Last)07-31
Earnings (Next)02-12
Inst Owners42.85%
Inst Owner ChangeN/A
Ins Owners0.04%
Ins Owner ChangeN/A
Market Cap113.77B
Revenue(TTM)25.60B
Net Income(TTM)3.09B
Analysts77
Price Target53.43 (1.97%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.55%
Yearly Dividend2.71
Dividend Growth(5Y)3.19%
DP168.94%
Div Incr Years7
Div Non Decr Years7
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.62%
PT rev (3m)5.4%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0.15%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.32%
Valuation
Industry RankSector Rank
PE 12.78
Fwd PE 12.4
P/S 3.85
P/FCF 11.37
P/OCF 10.63
P/B 2.1
P/tB N/A
EV/EBITDA 20.25
EPS(TTM)4.1
EY7.82%
EPS(NY)4.23
Fwd EY8.06%
FCF(TTM)4.61
FCFY8.79%
OCF(TTM)4.93
OCFY9.41%
SpS13.62
BVpS24.94
TBVpS-20.93
PEG (NY)N/A
PEG (5Y)5.6
Graham Number47.96
Profitability
Industry RankSector Rank
ROA 2.8%
ROE 6.59%
ROCE 3.79%
ROIC 2.67%
ROICexc 2.81%
ROICexgc 80.73%
OM 13.95%
PM (TTM) 12.06%
GM 83.38%
FCFM 33.85%
ROA(3y)-1.73%
ROA(5y)0.88%
ROE(3y)-4.1%
ROE(5y)1.61%
ROIC(3y)7.24%
ROIC(5y)6.81%
ROICexc(3y)7.6%
ROICexc(5y)7.1%
ROICexgc(3y)1378.99%
ROICexgc(5y)906.22%
ROCE(3y)10.3%
ROCE(5y)9.7%
ROICexgc growth 3Y160.63%
ROICexgc growth 5Y62.99%
ROICexc growth 3Y5.7%
ROICexc growth 5Y5.98%
OM growth 3Y-2.51%
OM growth 5Y0.86%
PM growth 3Y-23.49%
PM growth 5Y-11.66%
GM growth 3Y0.09%
GM growth 5Y-0.13%
F-Score7
Asset Turnover0.23
Health
Industry RankSector Rank
Debt/Equity 0.68
Debt/FCF 4.06
Debt/EBITDA 5.11
Cap/Depr 22.67%
Cap/Sales 2.37%
Interest Coverage 2
Cash Conversion 148.45%
Profit Quality 280.54%
Current Ratio 0.87
Quick Ratio 0.55
Altman-Z 1.46
F-Score7
WACC7.84%
ROIC/WACC0.34
Cap/Depr(3y)23.99%
Cap/Depr(5y)39.87%
Cap/Sales(3y)2.31%
Cap/Sales(5y)2.55%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-2.23%
EPS 3Y3.29%
EPS 5Y2.28%
EPS Q2Q%-4.31%
EPS Next Y-5.04%
EPS Next 2Y0.46%
EPS Next 3Y2.73%
EPS Next 5Y4.75%
Revenue 1Y (TTM)-2.24%
Revenue growth 3Y0.24%
Revenue growth 5Y-0.01%
Sales Q2Q%-2.2%
Revenue Next Year-1.7%
Revenue Next 2Y0.71%
Revenue Next 3Y1.65%
Revenue Next 5Y2.08%
EBIT growth 1Y-67.36%
EBIT growth 3Y-2.28%
EBIT growth 5Y0.85%
EBIT Next Year4.34%
EBIT Next 3Y4.18%
EBIT Next 5Y5.8%
FCF growth 1Y-11.49%
FCF growth 3Y1.99%
FCF growth 5Y3.07%
OCF growth 1Y-11.08%
OCF growth 3Y1.38%
OCF growth 5Y2.39%

BRITISH AMERICAN TOBACCO PLC / BMT.DE FAQ

What is the ChartMill fundamental rating of BRITISH AMERICAN TOBACCO PLC (BMT.DE) stock?

ChartMill assigns a fundamental rating of 4 / 10 to BMT.DE.


What is the valuation status of BRITISH AMERICAN TOBACCO PLC (BMT.DE) stock?

ChartMill assigns a valuation rating of 4 / 10 to BRITISH AMERICAN TOBACCO PLC (BMT.DE). This can be considered as Fairly Valued.


What is the profitability of BMT stock?

BRITISH AMERICAN TOBACCO PLC (BMT.DE) has a profitability rating of 5 / 10.


How financially healthy is BRITISH AMERICAN TOBACCO PLC?

The financial health rating of BRITISH AMERICAN TOBACCO PLC (BMT.DE) is 4 / 10.


What is the earnings growth outlook for BRITISH AMERICAN TOBACCO PLC?

The Earnings per Share (EPS) of BRITISH AMERICAN TOBACCO PLC (BMT.DE) is expected to decline by -5.04% in the next year.