Stock Taper 
| DATE | TYPE | RATIO |
|---|---|---|
| 2017-02-14 | Forward | 2:1 |
| 2017-02-02 | Forward | 2:1 |
| 1998-09-08 | Reverse | 1:2 |
| 1994-03-15 | Reverse | 1:2 |
| 1993-05-27 | Forward | 2:1 |
| 1983-06-20 | Forward | 4:1 |
British American Tobacco p.l.c. manufactures and distributes tobacco and nicotine products worldwide, including cigarettes, vapour, heated, and oral nicotine products under brands like Dunhill, Lucky Strike, and Newport.
Vuse Go, a disposable vape pen from British American Tobacco's Vuse brand, offers a convenient, innovative smokeless nicotine alternative and is part of BAT's strategic focus on new categories.
In mid-February 2025, British American Tobacco's stock experienced a significant downturn of nearly 10% following the announcement of a cautious growth outlook for the year. This was compounded by news of a proposed multi-billion dollar settlement related to litigation in Canada, alongside new restrictive regulations in Australia and Bangladesh, creating substantial investor concern.
In 2025, British American Tobacco significantly intensified its strategic pivot towards its 'smokeless' product portfolio, aiming to become a predominantly smokeless business by 2035. This strategic shift involves substantial investment and focus on its 'New Categories' of products, particularly the Velo brand of modern oral nicotine pouches, which has seen triple-digit revenue growth in the US.
A fat dividend yield means nothing if the cash runs dry before the check clears. These five companies show wildly different margins of safety, and one of them barely cleared the bar last quarter.
Go against the grain with these oversold, undervalued, and high-yielding dividend stocks.
British American Tobacco earns a Buy rating at ~$53, driven by Velo's rapid growth and improving profit mix. Velo's dominance in Modern Oral, with strong US and European market shares, underpins BTI's long-term growth prospects. New Categories' margin expansion and cost savings initiatives position BTI for 5–8% EPS growth and attractive total returns.
British American Tobacco trades at 11x 2026 earnings with a 6.31% yield, despite strong operational progress and robust free cash flow guidance. BTI's New Category revenue grew 18% with contribution margin rising to 13.8%, and Velo now leads the global Modern Oral market. Management reaffirmed 2030 targets: 3–5% revenue growth, 4–6% APFO growth, 5–8% EPS growth, and over £50 billion FCF from 2024–2030.
A diversified combustible portfolio across premium, value, and discount positioning along with high-growth vapor/oral offerings underscores BTI's future resilience amid secular declines. H2'26 may deliver expanded US total nicotine volume shares, given the upcoming launches of Velo with higher strengths/limited edition flavors and Vuse Pro's fruit-flavored pods. The recent stock price meltdown triggers BTI's discounted P/E of 11.13x, richer forward dividend yields of 6.28%, and expanded upside potential to my LTPT of $64.
British American Tobacco p.l.c. (BTI) Analyst/Investor Day Transcript
British American Tobacco PLC (LSE:BATS), the FTSE 100 tobacco group, is expected to regain investor confidence after Citi and Deutsche Bank backed its ability to deliver its medium-term growth targets. Citi and Deutsche Bank both maintained a 'buy' rating on BAT with a £52 target price, arguing that the group's capital markets day in Winston-Salem demonstrated greater confidence in management's execution.
Both BTI and PM fund generous dividends from a shrinking cigarette business, but one company's smoke-free pivot has already changed what its payout is built on, and that gap matters far more than the headline yield difference.
British American Tobacco NYSE: BTI outlined its Horizon 2030 strategy at its 2026 Capital Markets Day, targeting growth in smokeless nicotine products while maintaining combustibles as a cash-generating business that funds investment, dividends and share buybacks.
British American Tobacco NYSE: BTI used its 2026 Capital Markets Day to outline its Horizon 2030 strategy, emphasizing growth in modern oral nicotine products, a turnaround in the U.S. business, continued cash generation from combustibles and greater use of artificial intelligence across operations.
Overall rating: A-
| PEER | PRICE | |
|---|---|---|
 PM | $191.82 | COMPARE |
 BUD | $75.84 | COMPARE |
 UL | $60.80 | COMPARE |
 MO | $69.28 | COMPARE |
 MNST | $42.94 | COMPARE |
 MDLZ | $59.24 | COMPARE |
 CL | $87.22 | COMPARE |
 RLX | $1.71 | COMPARE |
