British American Tobacco p.l.c. (BTI) Balance Sheet: Assets & Liabilities

British American Tobacco p.l.c. Balance Sheet Analysis

Assets, liabilities, and stockholders equity in billions GBP

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for British American Tobacco p.l.c. (BTI) - Annual data in billions GBP
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period Ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	3.83	5.30	4.66	1.71	2.81	3.14	2.53	2.60	3.29
Short-Term Investments	0.02	0.51	0.60	0.58	0.46	0.24	0.12	0.18	0.07
Cash & Short-Term Investments	3.84	5.81	5.26	2.29	3.27	3.38	2.65	2.78	3.36
Accounts Receivable	4.27	2.86	3.79	4.37	4.07	3.80	3.37	2.87	3.31
Inventory	4.38	4.62	4.94	5.67	5.28	6.00	6.09	6.03	5.86
Other Current Assets	0.66	1.01	2.49	1.20	0.20	0.43	1.16	0.98	1.44
Total Current Assets	12.68	14.29	14.19	15.41	12.81	13.61	13.27	12.66	13.97
Non-Current Assets
Property, Plant & Equipment (Net)	4.48	4.38	4.58	4.87	4.95	5.06	5.52	5.17	4.88
Long-Term Investments	1.85	2.05	2.09	2.02	2.00	1.58	1.75	1.60	1.55
Goodwill	38.92	41.13	41.09	47.96	43.19	43.32	44.32	46.16	44.15
Intangible Assets	86.93	53.15	95.56	81.12	115.63	72.02	74.47	77.85	73.64
Other Non-Current Assets	1.30	3.90	1.39	1.37	1.37	1.57	1.25	2.57	2.53
Total Non-Current Assets	96.61	104.61	104.53	138.14	124.56	124.08	127.73	133.69	127.07
Total Assets	109.29	118.90	118.72	153.55	137.37	137.69	141.01	146.34	141.04
Current Liabilities
Accounts Payable	1.81	9.56	1.71	10.45	3.92	9.69	9.73	10.63	8.91
Short-Term Debt	3.17	4.31	4.09	4.27	3.52	4.04	7.09	3.76	4.98
Current Portion of Long-Term Debt	3.17	4.03	4.09	4.29	3.52	0.00	0.00	0.00	0.00
Accrued Liabilities	0.01	0.01	0.01	0.01	0.01	0.00	0.00	0.00	0.00
Deferred Revenue	0.00	0.00	-0.01	0.00	0.00	0.00	0.00	0.85	0.72
Other Current Liabilities	8.21	3.19	8.64	10.50	6.34	0.88	1.33	1.09	1.00
Total Current Liabilities	14.52	18.74	15.67	17.85	15.14	15.48	18.82	16.33	15.54
Non-Current Liabilities
Long-Term Debt	31.33	32.64	35.23	38.35	35.35	39.93	38.23	43.28	44.04
Deferred Tax Liabilities	10.34	11.68	12.19	18.43	16.46	16.31	17.05	17.78	17.13
Other Non-Current Liabilities	3.75	5.84	1.41	1.42	1.43	3.02	2.74	3.27	3.30
Total Non-Current Liabilities	46.62	50.16	50.11	59.98	54.82	59.26	58.02	64.33	64.47
Total Liabilities	61.15	68.90	65.78	77.84	69.96	74.74	76.85	80.65	80.01
Stockholders' Equity
Common Stock	0.58	0.59	0.61	0.61	0.61	0.61	0.61	0.61	0.61
Retained Earnings	27.31	26.02	31.63	51.20	49.33	47.19	40.23	38.56	36.98
Accumulated Other Comprehensive Income	24.30	27.33	27.31	30.56	22.17	19.83	22.87	-0.23	-3.29
Treasury Stock	4.38	4.41	7.10	7.12	0.00	0.00	0.00	0.00	0.00
Additional Paid-in Capital	0.26	-4.29	-6.98	0.21	17.15	-5.05	0.09	-31.57	-31.52
Minority Interest	0.22	0.35	0.37	0.34	0.30	0.28	0.26	0.24	0.22
Shares Outstanding	2.17	2.20	2.23	2.23	0.00	0.00	0.00	0.00	0.00
Total Stockholders' Equity	48.15	49.64	52.93	75.37	67.40	62.67	63.90	65.44	60.80
Total Liabilities & Equity	109.29	118.90	118.72	153.55	137.37	137.69	141.01	146.34	141.04

Frequently Asked Questions About British American Tobacco p.l.c. Balance Sheet

What is a balance sheet?

A balance sheet shows a company's financial position at a specific point in time. It lists total assets (what the company owns), total liabilities (what it owes), and stockholders' equity (the difference). The fundamental equation: Assets = Liabilities + Equity.

What is stockholders' equity?

Stockholders' equity represents the net value belonging to shareholders — total assets minus total liabilities. It includes retained earnings, common stock, and additional paid-in capital. Growing equity over time typically indicates a healthy, profitable business.

What is working capital?

Working capital is current assets minus current liabilities. It measures a company's ability to pay short-term obligations with short-term assets. Positive working capital indicates the company can cover its near-term debts; negative may signal liquidity risk.

What is BTI's debt level?

Review British American Tobacco p.l.c.'s total long-term debt and short-term borrowings in the balance sheet table above. Compare debt to equity and total assets to assess leverage and financial risk.

What is book value per share?

Book value per share is total stockholders' equity divided by shares outstanding. It represents the accounting value per share if the company were liquidated. Comparing market price to book value gives the price-to-book (P/B) ratio — a key valuation metric.

British American Tobacco p.l.c. (BTI) Balance Sheet

British American Tobacco p.l.c. Balance Sheet Analysis

Frequently Asked Questions About British American Tobacco p.l.c. Balance Sheet

Current Ratio

Quick Ratio

Debt to Equity (D/E)

Book Value Per Share

Return on Assets (ROA)

Return on Equity (ROE)

British American Tobacco p.l.c. Balance Sheet Analysis

Frequently Asked Questions About British American Tobacco p.l.c. Balance Sheet

Metrics Derived from the Balance Sheet

Current Ratio

Quick Ratio

Debt to Equity (D/E)

Book Value Per Share

Return on Assets (ROA)

Return on Equity (ROE)