The financials
British American Tobacco p.l.c. by the numbers
British American Tobacco p.l.c. (BTI) reported revenue of £13.5B in H2 2025 (quarter ended December 31, 2025), down 2.2% from the same quarter a year earlier. That came with a gross margin of 83% and net income of £3.25B (24% of revenue). For the full year FY2025, revenue was £25.6B (−1.0% year on year) and net income £7.76B.
| Income statement | H2 2025 | H2 2023 | Change |
|---|---|---|---|
| Revenue | £13.5B | £13.8B | −2.2% |
| Gross profit | £11.2B | £11.5B | −2.6% |
| Operating income | £4.93B | −£21.7B | to a profit |
| Net income | £3.25B | −£18.3B | to a profit |
| Diluted EPS | £1.46 | −£8.23 | to a profit |
Consumer Defensive
The closest names by size in the same sector