BTIBritish American Tobacco p.l.c.
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (A) and steady price behavior.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Relatively steady, low volatility. Worst drawdown -56% · now 17% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can BTI take a bad year?
British American Tobacco p.l.c. carries $31.2B of net debt at 2.49× EBITDA: a load its earnings can carry.
Net debt · as at FY2025 · under two and a half years of EBITDA, comfortable
- Net debt / EBITDA
- 2.49×
Net debt / EBITDA · 5.42× a year ago · the load is coming down
- Interest cover
- 6.03×
Interest cover · operating profit covers the interest bill several times over
- Annualised volatility
- 24%
Annualised volatility · about as steady as the market itself
Details›
- Total debtFY2025
- $35.1B
- Cash and short-term investments
- $3.83B
- Net debt
- $31.2B
- EBITDA, trailing twelve months
- $12.5B
- Operating profit, trailing twelve months
- $10.00B
- Debt / equity
- 0.76×
- Total debt / EBITDA
- 2.80×
- Annualised volatilitytwo years of daily moves
- 24%
- Worst drawdown on file
- −56%
- Below its 52-week high
- 17%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Consumer Defensive
Ranks #99 of 130 by RyuScore