British American Tobacco (GB:BATS)
LSE:BATS
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British American Tobacco
(LSE:BATS)
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Rating:70Outperform
Price Target:
4,789.00 p
â–²(9.76% Upside)
Action:ReiteratedDate:02/18/26
The score is driven primarily by solid-but-not-clean financial performance (profitability strength offset by leverage and a notable 2025 cash-flow decline). Valuation is supportive due to the high dividend yield and moderate P/E, while technicals are broadly neutral. Earnings-call guidance and capital-return plans help, but are tempered by vapor/illicit pressures and regional weakness.
Positive Factors
High gross margins
Sustained gross margins near the low-80s indicate strong pricing power and a structurally profitable product mix. High margins provide durable earnings cushion, enabling reinvestment, shareholder returns and resilience to volume fluctuations across economic cycles.
Negative Factors
Elevated leverage
Meaningful net debt levels limit balance-sheet flexibility and raise interest and refinancing risk. With a leveraged capital structure, macro shocks or sustained cash-flow weakness would pressure ability to fund buybacks, deleveraging targets and transformation investments.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained gross margins near the low-80s indicate strong pricing power and a structurally profitable product mix. High margins provide durable earnings cushion, enabling reinvestment, shareholder returns and resilience to volume fluctuations across economic cycles.
Read all positive factors
British American Tobacco (BATS) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£94.53B
Dividend Yield5.67%
Average Volume (3M)4.42M
Price to Earnings (P/E)7.1
Beta (1Y)0.58
Revenue Growth-2.24%
EPS GrowthN/A
CountryUK
Employees48,989
SectorConsumer Defensive
Sector Strength42
IndustryTobacco
Share Statistics
EPS (TTM)1.87
Shares Outstanding2,172,899,200
10 Day Avg. Volume5,744,689
30 Day Avg. Volume4,420,352
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)1.92
Price to Sales (P/S)3.60
P/FCF Ratio21.13
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£4,535.00Price Target Upside3.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)3.61
Revenue Forecast (FY)£26.33B
British American Tobacco Business Overview & Revenue Model
Company Description
British American Tobacco p.l.c. provides tobacco and nicotine products to consumers worldwide. It offers vapour, tobacco heating, and modern oral nicotine products; combustible products; and traditional oral products, such as snus and moist snuff....
How the Company Makes Money
British American Tobacco generates revenue primarily through the sale of its tobacco products, which includes traditional cigarettes and emerging reduced-risk products. The company’s revenue model is centered around its extensive global distributi...
British American Tobacco Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call communicated clear positive momentum: top‑end guidance delivery, broad-based adjusted profit and EPS growth, strong U.S. and AME performances, standout success in modern oral (Velo Plus) and meaningful productivity savings and shareholder returns. These positives are tempered by significant challenges in vapor (illicit competition), a material profit and revenue decline in APMEA driven by Bangladesh and Australia, near-term Fit to Win costs and transactional FX headwinds. On balance the company emphasized recovery paths, product innovation, disciplined capital allocation and confidence in returning to its midterm algorithm.Positive Updates
Smokeless Consumer Growth
Added 4.7 million smokeless consumers in 2025, bringing the total to 34.1 million, driven mainly by strong performance in modern oral and described as the company's strongest growth acceleration to date.
Negative Updates
Vapor category headwinds and illicit market impact
Vapor revenue declined nearly 9% overall (with H1 mid-teens decline improving in H2); ex-U.S. enforcement remains weak with ~50% of tracked industry volume in some jurisdictions affected by illicit products; U.S. and Canada illicit pressures cited as primary drivers of decline.
Read all updates
Q4-2025 Updates
Positive
Negative
Smokeless Consumer Growth
Added 4.7 million smokeless consumers in 2025, bringing the total to 34.1 million, driven mainly by strong performance in modern oral and described as the company's strongest growth acceleration to date.
Read all positive updates
Company Guidance
Management guided that 2026 should mark a return to its mid‑term algorithm but at the lower end, targeting 3–5% revenue growth, 4–6% adjusted profit from operations growth and 5–8% adjusted diluted EPS growth, with profit performance expected to be second‑half weighted; they expect low double‑digit new‑category revenue growth led by Velo, continued deleveraging toward a 2.0–2.5x adjusted net debt/EBITDA target (2.55x at end‑2025), a progressive dividend increase of ~2% and a GBP1.3bn share buyback for 2026 (up GBP200m), alongside productivity targets of a further GBP2bn savings by 2030 and Fit‑to‑Win delivering GBP600m annualized incremental savings by 2028 (c. GBP500m by 2027) with ~GBP600m of associated costs over the next two years (c. GBP500m treated as adjusting, ~GBP100m non‑cash), and a continued commitment to generate over GBP50bn of free cash flow by end‑2030.British American Tobacco Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 25.61B | 25.87B | 27.28B | 27.66B | 25.68B |
| Gross Profit | 21.38B | 21.43B | 22.39B | 22.85B | 21.09B |
| EBITDA | 14.06B | 7.74B | 8.83B | 12.29B | 11.67B |
| Net Income | 7.76B | 3.07B | -14.37B | 6.67B | 6.80B |
Balance Sheet | |||||
| Total Assets | 109.29B | 118.90B | 118.72B | 153.55B | 137.37B |
| Cash, Cash Equivalents and Short-Term Investments | 3.84B | 5.81B | 5.26B | 4.03B | 3.27B |
| Total Debt | 35.75B | 36.95B | 39.73B | 43.14B | 39.66B |
| Total Liabilities | 61.15B | 68.90B | 65.78B | 77.84B | 69.96B |
| Stockholders Equity | 47.93B | 49.64B | 52.57B | 75.37B | 67.10B |
Cash Flow | |||||
| Free Cash Flow | 4.36B | 9.52B | 10.25B | 9.87B | 9.19B |
| Operating Cash Flow | 4.91B | 10.13B | 10.71B | 10.39B | 9.72B |
| Investing Cash Flow | 1.17B | 1.38B | -296.00M | -705.00M | -1.14B |
| Financing Cash Flow | -7.11B | -10.63B | -9.31B | -8.88B | -8.75B |
British American Tobacco Technical Analysis
Neutral
4363.00
Price Trends
4420.18
Negative
4294.78
Positive
4052.36
Positive
Market Momentum
-23.78
Positive
46.77
Neutral
29.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BATS, the sentiment is Neutral. The current price of 4363 is below the 20-day moving average (MA) of 4437.80, below the 50-day MA of 4420.18, and above the 200-day MA of 4052.36, indicating a neutral trend. The MACD of -23.78 indicates Positive momentum. The RSI at 46.77 is Neutral, neither overbought nor oversold. The STOCH value of 29.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:BATS.
British American Tobacco Risk Analysis
British American Tobacco disclosed 1 risk factors in its most recent earnings report. British American Tobacco reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
British American Tobacco Peers Comparison
UnderperformOutperform
Sector (62)
GB:BATS
British American Tobacco
4,329.00
1,408.36
48.22%
GB:IMB
Imperial Brands
3,047.00
411.44
15.61%
British American Tobacco Corporate Events
Business Operations and StrategyFinancial Disclosures
BAT Reaffirms 2026 Outlook as It Leans Further Into Smokeless Products
Positive
Feb 18, 2026
British American Tobacco, a leading global nicotine consumer goods company, is accelerating its shift from cigarettes to smokeless alternatives such as vapour, heated tobacco and oral nicotine pouches as part of a long-term sustainability strategy...
Stock Buyback
British American Tobacco Cancels 111,000 Shares After Latest Buyback
Positive
Feb 18, 2026
British American Tobacco has repurchased 111,147 of its 25 pence ordinary shares on 17 February 2026 from Banco Santander as part of its ongoing buyback programme, paying a volume-weighted average price of 4,332.0783 pence. The company plans to ca...
Other
BAT Director Uta Kemmerich-Keil Buys Shares on Tradegate
Positive
Feb 17, 2026
British American Tobacco disclosed that non-executive director Uta Kemmerich-Keil purchased 500 ordinary shares in the company on 13 February 2026. The transaction, executed on the Tradegate exchange at a price of €50.049 per share for a tot...
Regulatory Filings and Compliance
BAT discloses small share purchase by non-executive director Timuray
Neutral
Feb 17, 2026
British American Tobacco has disclosed a small share transaction involving non-executive director Serpil Timuray and her closely associated person, Abdurrahman Murat Timuray. The pair jointly acquired 43 ordinary shares through the reinvestment of...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
British American Tobacco cancels new tranche of buyback shares
Neutral
Feb 17, 2026
British American Tobacco has repurchased 112,212 of its 25 pence ordinary shares on 16 February 2026 from Banco Santander as part of the share buyback programme authorised by shareholders and announced in March 2024. The company plans to cancel th...
Regulatory Filings and Compliance
BAT CEO Reinvests Dividend to Boost Personal Shareholding
Positive
Feb 16, 2026
British American Tobacco disclosed that chief executive Tadeu Marroco and his closely associated person, Luciana Franco Do Amaral, jointly acquired 157 ordinary shares through the reinvestment of dividend income. The purchase, executed on the Lond...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels New Tranche of Shares After Buyback
Positive
Feb 16, 2026
British American Tobacco has repurchased 120,184 of its 25 pence ordinary shares on 13 February 2026 from Banco Santander as part of its previously announced share buyback programme. The company will cancel these shares, reducing the number of sha...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
BAT files 2025 annual reports and flags rising illicit trade risk
Negative
Feb 13, 2026
British American Tobacco has published its 2025 Combined Annual and Sustainability Report, Form 20-F and a performance and sustainability summary on its website, with the filings also submitted to the UK National Storage Mechanism and the U.S. SEC...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels New Tranche of Buyback Shares
Positive
Feb 13, 2026
British American Tobacco has repurchased 100,428 of its ordinary shares from Banco Santander as part of the ongoing share buyback programme authorised by shareholders and announced in March 2024. The shares, bought on 12 February at a volume‑...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
BAT Extends Share Buyback With New Santander Mandate to Cancel Shares
Positive
Feb 12, 2026
British American Tobacco has entered into an agreement with Banco Santander to continue its share buyback programme between 12 February and 22 April 2026, with Santander executing purchases independently. The move is aimed at reducing the company&...
Business Operations and StrategyStock Buyback
BAT cancels new tranche of buyback shares, trimming free float
Positive
Feb 12, 2026
British American Tobacco has repurchased 129,826 ordinary shares on 11 February 2026 under its ongoing share buyback programme, paying a volume‑weighted average price of 4,414.7794p. The company plans to cancel these shares, reducing the fre...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
BAT Lifts Payouts as Smokeless and U.S. Combustibles Drive 2025 Gains
Positive
Feb 12, 2026
British American Tobacco reported a modest 2.1% rise in constant-currency revenue to £25.6 billion for 2025, as strong U.S. combustibles and rapid growth in its Velo Plus oral nicotine brand lifted performance, even as APMEA faced fiscal and ...
Business Operations and StrategyStock Buyback
BAT Cancels 149,546 Shares After Latest Buyback Transaction
Positive
Feb 11, 2026
British American Tobacco has repurchased 149,546 ordinary shares on 10 February 2026 under its ongoing share buyback programme, paying a volume‑weighted average price of about 4,373 pence per share. The shares, bought via UBS across the LSE ...
Business Operations and StrategyExecutive/Board Changes
BAT Extends Chair’s Tenure and Names New Senior Independent Director
Positive
Feb 10, 2026
British American Tobacco has extended the tenure of Chair Luc Jobin by up to two years, until its April 2028 AGM, after a comprehensive succession process concluded this was in the company’s best interests during a critical phase of its tran...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
BAT Cancels New Tranche of Share Buybacks, Tightening Free Float
Positive
Feb 10, 2026
British American Tobacco has repurchased 149,812 ordinary shares on 9 February 2026 under its ongoing buyback programme, paying a volume-weighted average price of about 4,517 pence per share and planning to cancel the stock. Following this latest ...
Executive/Board ChangesRegulatory Filings and Compliance
BAT Discloses Deferred Stock Unit Award to Non-Executive Director
Neutral
Feb 9, 2026
British American Tobacco disclosed that non-executive director Holly Keller Koeppel received an automatic credit of additional Deferred Stock Units linked to the value of the company’s American Depositary Shares. The 472.19 DSUs were credite...
Business Operations and StrategyStock Buyback
British American Tobacco Cancels New Tranche of Shares in Ongoing Buyback
Positive
Feb 9, 2026
British American Tobacco has repurchased 131,297 of its 25 pence ordinary shares on 6 February 2026 from UBS AG London Branch under its ongoing buyback programme, paying a volume-weighted average price of about 4,587.5 pence per share. The company...
Other
BAT Executives Reinvest Dividends Into Company Shares Under Incentive Plan
Neutral
Feb 6, 2026
British American Tobacco has disclosed that several senior executives, including Chief Executive Tadeu Marroco, Chief Operating Officer Johan Vandermeulen and other top managers, have acquired small quantities of ordinary shares through the reinve...
Other
BAT Executives Acquire Shares Through Dividend Reinvestment Plan
Neutral
Feb 6, 2026
British American Tobacco has disclosed a series of routine share transactions by senior executives resulting from the automatic reinvestment of dividend income through a Computershare Share Plan Account. On 4 February 2026, Interim Chief Financial...
Executive/Board ChangesRegulatory Filings and Compliance
BAT CEO Receives Dividend-Linked Share Award Under Deferred Bonus Scheme
Neutral
Feb 6, 2026
British American Tobacco has disclosed that its Chief Executive, Tadeu Marroco, acquired 364 ordinary shares in the company through the receipt of quarterly dividend equivalent shares under the British American Tobacco Deferred Share Bonus Scheme....
Other
BAT Executives Add Shares Through HMRC-Approved Incentive Plan
Positive
Feb 6, 2026
British American Tobacco has disclosed that Chief Executive Tadeu Marroco and several other senior executives, including the Chief Marketing Officer, Chief Operating Officer and Interim Chief Financial Officer, each acquired a small number of ordi...
Stock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels New Tranche of Shares in Ongoing Buyback
Positive
Feb 6, 2026
British American Tobacco has continued its share buyback programme, repurchasing 121,668 ordinary shares on 5 February 2026 from UBS AG London Branch at a volume-weighted average price of 4,535.6560 pence per share. The company plans to cancel the...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels Newly Repurchased Shares in Ongoing Buyback
Positive
Feb 5, 2026
British American Tobacco has continued its ongoing share buyback programme, repurchasing 136,167 ordinary shares on 4 February 2026 from UBS at prices between 4,485p and 4,572p per share, with a volume-weighted average price of 4,541.4024p. The co...
Business Operations and StrategyStock Buyback
British American Tobacco Cancels Further Shares After Latest Buyback Tranche
Positive
Feb 3, 2026
British American Tobacco has bought back 108,725 of its own ordinary shares on 2 February 2026 under its previously announced share repurchase programme, paying a volume‑weighted average price of about 4,429 pence per share. The company will...
Regulatory Filings and Compliance
British American Tobacco Updates Market on Share Capital and Voting Rights
Neutral
Feb 2, 2026
British American Tobacco has reported that, as of 30 January 2026, its issued share capital comprised 2,177,145,903 ordinary shares of 25 pence each with voting rights, of which 132,976,327 shares were held in treasury. The disclosed voting rights...
Stock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels Newly Repurchased Shares Under Ongoing Buyback
Positive
Feb 2, 2026
British American Tobacco has repurchased 125,526 of its 25 pence ordinary shares on 30 January 2026 from UBS AG London Branch under its ongoing share buyback programme authorised by shareholders in April 2025 and launched in March 2024. The compan...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
BAT Cancels New Tranche of Shares After Latest Buyback
Positive
Jan 30, 2026
British American Tobacco has repurchased 131,672 of its own ordinary shares as part of the share buyback programme launched in March 2024, paying a volume-weighted average price of 4,346.8597p per share. The company intends to cancel the shares, r...
Business Operations and StrategyStock Buyback
British American Tobacco Continues Share Buyback, Cancels 135,000 Shares
Positive
Jan 29, 2026
British American Tobacco has repurchased 135,314 of its own ordinary shares on 28 January 2026 under the shareholder-approved buyback programme initiated in March 2024, paying a volume-weighted average price of about 4,335.86p per share through UB...
Business Operations and StrategyStock Buyback
BAT Cancels 125,603 Shares in Ongoing Buyback Programme
Positive
Jan 28, 2026
British American Tobacco has repurchased 125,603 of its ordinary shares on 27 January 2026 under its ongoing share buyback programme, paying a volume-weighted average price of 4,332.79p per share, and intends to cancel the stock. Following this tr...
Business Operations and StrategyStock BuybackFinancial DisclosuresRegulatory Filings and Compliance
British American Tobacco Cancels 137,150 Shares in Ongoing Buyback
Positive
Jan 27, 2026
British American Tobacco has repurchased 137,150 of its ordinary shares as part of its ongoing share buyback programme, with the highest price paid at 4,361p and a volume-weighted average price of 4,329.0339p per share. The company intends to canc...
Stock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels Newly Repurchased Shares Under Ongoing Buyback
Positive
Jan 26, 2026
British American Tobacco has repurchased 101,395 of its own ordinary shares on 23 January 2026 from UBS AG London Branch under its ongoing share buyback programme, paying a volume-weighted average price of 4,317.3259 pence per share. The company p...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels Newly Repurchased Shares Under Ongoing Buyback
Positive
Jan 22, 2026
British American Tobacco has repurchased 161,326 of its ordinary shares on 21 January 2026 under its ongoing share buyback programme, paying between 4,214p and 4,295p per share at a volume-weighted average of 4,251.0001p. The company plans to canc...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels New Tranche of Shares in Ongoing Buyback
Positive
Jan 21, 2026
British American Tobacco has repurchased 160,365 of its ordinary shares on 20 January 2026 under its ongoing share buyback programme authorised by shareholders and conducted through UBS AG’s London branch. The company intends to cancel the p...
Business Operations and StrategyStock Buyback
British American Tobacco Cancels Latest Tranche of Share Buybacks
Positive
Jan 20, 2026
British American Tobacco has continued to execute its previously announced share buyback programme, repurchasing 108,254 ordinary shares on 19 January 2026 from UBS AG’s London branch at prices between 4,316p and 4,375p per share, with a vol...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels Newly Repurchased Shares Under Ongoing Buyback
Positive
Jan 19, 2026
British American Tobacco has continued its ongoing share buyback programme, repurchasing 138,086 ordinary shares on 16 January 2026 from UBS at prices ranging between 4,311p and 4,386p per share, with a volume-weighted average price of 4,336.3086p...
Business Operations and StrategyStock Buyback
British American Tobacco Cancels Further Shares After Buyback
Positive
Jan 16, 2026
British American Tobacco has continued its previously announced share buyback programme with the repurchase of 100,090 ordinary shares on 15 January 2026 from UBS AG’s London branch, paying a volume-weighted average price of 4,316.1662 pence...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
BAT Cancels 118,000 Shares After Latest Buyback Transaction
Positive
Jan 15, 2026
British American Tobacco has repurchased 118,229 of its ordinary shares on 14 January 2026 under its ongoing share buyback programme and plans to cancel the stock, reducing the number of shares in issue and potentially enhancing earnings per share...
Stock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels Further Shares After January Buyback
Positive
Jan 14, 2026
British American Tobacco has repurchased 110,393 of its own ordinary shares on 13 January 2026 under its ongoing share buyback programme, paying a volume‑weighted average price of 4,144.2212 pence per share, and intends to cancel the stock. ...
Business Operations and StrategyStock Buyback
BAT Continues Share Buyback With Purchase and Cancellation of 110,393 Shares
Positive
Jan 14, 2026
British American Tobacco has repurchased 110,393 of its 25p ordinary shares on 13 January 2026 under its ongoing share buyback programme, at prices ranging between 4,115p and 4,201p per share and a volume-weighted average price of 4,144.2212p. The...
Stock BuybackFinancial DisclosuresRegulatory Filings and Compliance
British American Tobacco Cancels 112,639 Shares After Latest Buyback Transaction
Positive
Jan 13, 2026
British American Tobacco has repurchased 112,639 of its own ordinary shares on 12 January 2026 from UBS AG London Branch under its previously announced share buyback programme, paying a volume-weighted average price of 4,107.9326 pence per share. ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels 132,817 Shares in Latest Buyback Tranche
Positive
Jan 12, 2026
British American Tobacco has repurchased 132,817 of its 25p ordinary shares on 9 January 2026 under its ongoing share buyback programme, paying a volume‑weighted average price of about 4,015p per share. The company plans to cancel these shar...
Stock BuybackRegulatory Filings and Compliance
British American Tobacco Buys Back and Cancels Over 127,000 Shares
Positive
Jan 9, 2026
British American Tobacco has continued its share buyback programme, repurchasing 127,066 ordinary shares on 8 January 2026 from UBS AG London Branch at a volume-weighted average price of 4,004.1873p per share, under the authority granted at its Ap...
Business Operations and Strategy
BAT Executives Add to Holdings Through Share Incentive Plan
Positive
Jan 8, 2026
British American Tobacco has disclosed that its chief executive, Tadeu Marroco, along with several other senior executives including the chief marketing officer, chief operating officer, interim chief financial officer and other directors, have ea...
Business Operations and StrategyStock Buyback
British American Tobacco Buys Back and Cancels 158,668 Shares
Positive
Jan 8, 2026
British American Tobacco has continued its share buyback programme, purchasing 158,668 ordinary shares on 7 January 2026 from UBS at prices between 3,961.00p and 4,011.00p per share, with a volume-weighted average price of 3,981.6961p. The company...
Business Operations and StrategyStock Buyback
British American Tobacco Cancels 128,000 Shares in Ongoing Buyback
Positive
Jan 7, 2026
British American Tobacco has repurchased 128,000 of its ordinary shares on 6 January 2026 under its ongoing share buyback programme, paying a volume‑weighted average price of about 4,056 pence per share. The company plans to cancel these sha...
Business Operations and StrategyStock Buyback
British American Tobacco Cancels 146,615 Shares After Latest Buyback
Positive
Jan 6, 2026
British American Tobacco has repurchased 146,615 of its own ordinary shares on 5 January 2026 under the shareholder-approved buyback programme, paying a volume-weighted average price of 4,101.3767 pence per share. The company plans to cancel these...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels 132,449 Shares After Latest Buyback
Positive
Jan 5, 2026
British American Tobacco has repurchased 132,449 of its ordinary 25 pence shares on 2 January 2026 as part of its ongoing share buyback programme authorised by shareholders and conducted via UBS. The company intends to cancel the shares, reducing ...
Regulatory Filings and Compliance
BAT Confirms Year-End Share Capital and Voting Rights Structure
Neutral
Jan 2, 2026
British American Tobacco has reported that, as of 31 December 2025, its issued share capital comprised 2,179,466,149 ordinary shares with voting rights, of which 132,988,352 shares were held in treasury. The disclosed voting rights figure provides...
Business Operations and StrategyStock Buyback
BAT Completes £1.1bn 2025 Share Buyback Tranche
Positive
Dec 24, 2025
British American Tobacco has repurchased 111,960 ordinary shares from Goldman Sachs International as part of its ongoing share buyback programme, paying a volume-weighted average price of 4,221.91p per share, and will cancel the shares, leaving 2,...
Regulatory Filings and Compliance
BAT Discloses Share Sale by Associate of Chief Corporate Officer
Neutral
Dec 23, 2025
British American Tobacco has disclosed a share transaction involving a person closely associated with senior management, in line with regulatory requirements for transparency. The company reported that Julia Wheaton, who is closely associated with...
Stock BuybackFinancial DisclosuresRegulatory Filings and Compliance
British American Tobacco Cancels Further Shares After Buyback Transaction
Positive
Dec 23, 2025
British American Tobacco has continued its share buyback programme, repurchasing 153,353 ordinary shares on 22 December 2025 from Goldman Sachs International at a volume-weighted average price of 4,215.6p per share. The company plans to cancel the...
Stock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels 160,500 Shares Under Ongoing Buyback Programme
Positive
Dec 22, 2025
British American Tobacco has repurchased 160,500 of its ordinary shares from Goldman Sachs International on 19 December 2025 as part of its ongoing share buyback programme authorised by shareholders earlier in the year. The company intends to canc...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
British American Tobacco Cancels 159,774 Shares After Latest Buyback Tranche
Positive
Dec 19, 2025
British American Tobacco has repurchased 159,774 of its own ordinary shares on 18 December 2025 from Goldman Sachs International under its ongoing share buyback programme authorised by shareholders earlier this year, paying a volume‑weighted...
Business Operations and StrategyStock Buyback
British American Tobacco Executes Share Buyback and Cancellation Program
Neutral
Dec 18, 2025
British American Tobacco PLC announced the purchase of 145,000 ordinary shares as part of its ongoing share buyback program authorized by shareholders at its April 2025 AGM. The purchased shares will be canceled, reducing the total number of share...
Stock Buyback
British American Tobacco Executes Share Buyback
Neutral
Dec 17, 2025
British American Tobacco has repurchased 145,000 of its ordinary shares from Goldman Sachs International as part of its ongoing buyback program. This transaction, authorized by shareholders, aims to cancel the purchased shares, reducing the total ...
Executive/Board Changes
British American Tobacco Director Joins Société Bic Board
Neutral
Dec 16, 2025
British American Tobacco announced that Karen Guerra, a Non-Executive Director, has been appointed as an Independent Director of Société Bic S.A., a company listed on the Euronext Paris. This appointment could enhance the company’s...
Business Operations and StrategyStock Buyback
British American Tobacco Executes Share Buyback
Neutral
Dec 16, 2025
British American Tobacco p.l.c. announced the repurchase of 145,000 ordinary shares as part of its ongoing buyback program. This transaction, conducted through Goldman Sachs International, is part of the company’s strategy to manage its shar...
Business Operations and StrategyStock Buyback
British American Tobacco Executes Share Buyback
Neutral
Dec 15, 2025
British American Tobacco announced the purchase of 145,000 of its ordinary shares as part of a buyback program, with the intention to cancel these shares. This transaction, executed through Goldman Sachs International, reflects the company’s...
Dividends
British American Tobacco Finalizes February 2026 Dividend Details
Neutral
Dec 15, 2025
British American Tobacco announced the finalization of its February 2026 dividend payment, which is part of the interim dividend declared for the year ending December 2024. Shareholders on the South Africa branch register will receive dividends in...
Business Operations and StrategyStock Buyback
British American Tobacco Executes Share Buyback
Positive
Dec 12, 2025
British American Tobacco announced the repurchase of 132,000 of its ordinary shares as part of its ongoing buyback program. The shares were bought from Goldman Sachs International and will be canceled, reducing the total number of shares in circul...
Executive/Board Changes
British American Tobacco Announces Audit Committee Change
Neutral
Dec 12, 2025
British American Tobacco has announced a change in its Audit Committee, with Non-Executive Director Holly Keller Koeppel stepping down effective December 31, 2025. This change in committee membership is part of the company’s ongoing governan...
Executive/Board Changes
British American Tobacco’s Director Joins Shell’s Board
Neutral
Dec 11, 2025
British American Tobacco announced that Holly Keller Koeppel, a Non-Executive Director, will join Shell plc as a Non-Executive Director starting January 1, 2026. This move highlights the company’s strategic connections with other major corpo...
Stock Buyback
British American Tobacco Executes Share Buyback
Positive
Dec 11, 2025
British American Tobacco has executed a buyback of 140,000 ordinary shares at a volume-weighted average price of 4,343.89 pence per share as part of its ongoing share buyback program. This transaction, conducted through Goldman Sachs International...
Stock Buyback
British American Tobacco Executes Share Buyback
Neutral
Dec 10, 2025
British American Tobacco announced the repurchase of 162,749 of its ordinary shares from Goldman Sachs International as part of its ongoing buyback program. The company intends to cancel these shares, which will result in a reduction of the total ...
Business Operations and StrategyStock Buyback
British American Tobacco Extends Share Buyback Programme
Positive
Dec 10, 2025
British American Tobacco has announced an extension of its share buyback programme by up to £1.3 billion for 2026. This move aims to reduce the company’s share capital, with the repurchased shares being cancelled. The buyback will be ex...
Stock Buyback
British American Tobacco Executes Share Buyback to Enhance Shareholder Value
Positive
Dec 9, 2025
British American Tobacco p.l.c. announced the purchase of 110,000 of its ordinary shares from Goldman Sachs International as part of its ongoing buyback program. This transaction, conducted under the authority granted by shareholders, is aimed at ...
Business Operations and StrategyStock BuybackFinancial Disclosures
British American Tobacco Announces £1.3bn Share Buy-Back and Reaffirms 2026 Guidance
Positive
Dec 9, 2025
British American Tobacco announced a £1.3 billion share buy-back and reaffirmed its guidance for 2026, expecting a 2% growth in revenue and adjusted profit for FY25. The company is experiencing strong momentum in the U.S. market, driven by it...
Business Operations and StrategyStock Buyback
British American Tobacco Announces Share Buyback
Positive
Dec 8, 2025
British American Tobacco p.l.c. has announced the purchase of 110,000 of its ordinary shares as part of its ongoing buyback program, which was approved by shareholders. The shares were acquired from Goldman Sachs International and will be canceled...
Stock Buyback
British American Tobacco Executes Share Buyback
Neutral
Dec 5, 2025
British American Tobacco announced the repurchase of 110,000 of its ordinary shares from Goldman Sachs International as part of its ongoing buyback program. The purchased shares will be canceled, reducing the total number of shares in circulation,...
Business Operations and StrategyPrivate Placements and Financing
British American Tobacco Completes Block Trade of ITC Hotels Shares
Neutral
Dec 5, 2025
British American Tobacco has completed the block trade of 187.5 million shares in ITC Hotels, representing 9% of the hotel’s share capital, through an accelerated bookbuild process. The transaction generated net proceeds of INR 38.2 billion,...
Business Operations and Strategy
British American Tobacco Executives Acquire Shares Under Incentive Plan
Positive
Dec 4, 2025
British American Tobacco has announced that several of its executive directors and managerial staff have purchased ordinary shares in the company as part of the Partnership Share Scheme, a HMRC approved Share Incentive Plan. This move reflects the...
Business Operations and StrategyM&A Transactions
BAT Plans Strategic Sale of ITC Hotels Shares
Neutral
Dec 4, 2025
British American Tobacco has announced plans to sell between 7% and 15.3% of its shares in ITC Hotels through an accelerated bookbuild process. The proceeds from this sale will help BAT progress towards its target leverage corridor by the end of 2...
Stock Buyback
British American Tobacco Executes Share Buyback
Positive
Dec 4, 2025
British American Tobacco has repurchased 110,000 of its ordinary shares from Goldman Sachs International as part of its ongoing buyback program. This transaction, authorized by shareholders, aims to reduce the number of shares in circulation, pote...
Business Operations and StrategyStock Buyback
British American Tobacco Executes Share Buyback to Boost Shareholder Value
Positive
Dec 3, 2025
British American Tobacco p.l.c. has announced the repurchase of 115,000 of its ordinary shares as part of its ongoing buyback programme. This transaction, executed through Goldman Sachs International, is part of the company’s strategy to man...
Business Operations and StrategyStock Buyback
British American Tobacco Executes Share Buyback
Neutral
Dec 2, 2025
British American Tobacco p.l.c. announced the purchase of 115,000 of its ordinary shares from Goldman Sachs International as part of its ongoing buyback program. This transaction, conducted under the authority granted by shareholders, reflects the...
Regulatory Filings and Compliance
British American Tobacco Updates Share Capital and Voting Rights
Neutral
Dec 1, 2025
British American Tobacco has announced its issued share capital as of November 28, 2025, consisting of 2,181,845,074 ordinary shares with voting rights. The company also holds 132,988,352 shares in treasury. This information is crucial for shareho...
Stock Buyback
British American Tobacco Executes Share Buyback
Positive
Nov 28, 2025
British American Tobacco p.l.c. announced the repurchase of 110,000 of its ordinary shares from Goldman Sachs International as part of its ongoing buyback program. This transaction, authorized by shareholders, aims to reduce the number of shares i...
Stock Buyback
British American Tobacco Executes Share Buyback
Neutral
Nov 27, 2025
British American Tobacco has executed a buyback of 110,000 of its ordinary shares at prices ranging from 4,303.00p to 4,343.00p as part of its ongoing share repurchase program. This move, which involves the cancellation of the purchased shares, is...
Stock Buyback
British American Tobacco Executes Share Buyback
Positive
Nov 26, 2025
British American Tobacco has executed a buyback of 130,000 of its ordinary shares from Goldman Sachs International as part of its ongoing share repurchase program. This transaction, authorized by shareholders, aims to enhance shareholder value by ...
Business Operations and StrategyStock Buyback
British American Tobacco Enhances Shareholder Value with Share Buyback
Positive
Nov 25, 2025
British American Tobacco has announced the repurchase of 130,000 of its ordinary shares as part of its ongoing buyback program. This transaction, conducted with Goldman Sachs International, reflects the company’s commitment to enhancing shar...
Stock Buyback
British American Tobacco Executes Share Buyback
Neutral
Nov 21, 2025
British American Tobacco has executed a share buyback, purchasing 129,180 of its ordinary shares from Goldman Sachs International as part of its ongoing buyback program. The company plans to cancel these shares, which will adjust the number of sha...
Business Operations and StrategyPrivate Placements and Financing
British American Tobacco Announces Executive Share Acquisition
Neutral
Nov 20, 2025
British American Tobacco has announced a transaction involving its Chief Executive, Tadeu Marroco, and Luciana Franco Do Amaral, who is closely associated with him. The transaction involved the acquisition of ordinary shares through the reinvestme...
Stock Buyback
British American Tobacco Executes Share Buyback
Positive
Nov 20, 2025
British American Tobacco has executed a share buyback transaction, purchasing 131,000 of its ordinary shares from Goldman Sachs International as part of its ongoing buyback program. This move, authorized by shareholders, is aimed at reducing the n...
Stock Buyback
British American Tobacco Executes Share Buyback
Neutral
Nov 19, 2025
British American Tobacco has executed a buyback of 115,000 of its ordinary shares from Goldman Sachs International, as part of its ongoing share repurchase program. This transaction, authorized by shareholders, aims to reduce the number of shares ...
Business Operations and Strategy
British American Tobacco Announces Share Acquisition by Non-Executive Director
Neutral
Nov 18, 2025
British American Tobacco has announced a transaction involving the acquisition of shares by Serpil Timuray, a Non-Executive Director, and Abdurrahman Murat Timuray. This transaction, conducted through the reinvestment of dividend income, involved ...
Business Operations and StrategyStock Buyback
British American Tobacco Executes Share Buyback to Enhance Shareholder Value
Positive
Nov 18, 2025
British American Tobacco p.l.c. announced the repurchase of 138,000 of its ordinary shares from Goldman Sachs International as part of its ongoing buyback program. This transaction, authorized by shareholders, is aimed at reducing the number of sh...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.