Added to YB: 2026-08-07
Pitch date: 2026-08-04
BATS.L [neutral]
British American Tobacco p.l.c.
-0.36%
current return
Author Info
No bio for this author
Company Info
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.
Market Cap
GBP 94.5B
Pitch Price
GBP 43.92
Price Target
N/A
Dividend
5.60%
EV/EBITDA
10.88
P/E
15.06
EV/Sales
4.93
Sector
Tobacco
Category
dividend
BAT H1 2026: The Price of Converting an American Smoker
BATS.L (holding update): H1 2026 rev +2.9% cc to £12.2B, New Cat +18%, Modern Oral +66%, smokeless now 19.8% of group. US led: Velo Plus tripled, Vuse 55.9% share. FY EPS guide nudged to mid 5-8%. Key concern: US cigarettes net $5.90/pack vs $2.40-2.60 smokeless, so conversion is negative price/mix; full migration = -49% US rev. Non-US markets deteriorating (Germany, Poland, Australia illicit ~80%), 'heightened competition' cited 9x. Holding for dividend + buyback.
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