BTI P/E ratio: current value, 10-year range and year-by-year history
Cash & Leverage
BTI's p/e ratio is higher than 82% of the last 10 years.
P/E ratio History
BTI P/E ratio by year
Yearly range of BTI’s p/e ratio from 2016 to 2026. Over the full period it ranged from -12.7 to 14.4, averaging 3.2.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 8.2 | 9.5 | 11.0 | 9.5 |
| 2025 | -9.1 | -7.3 | 8.7 | 8.7 |
| 2024 | -12.7 | -9.3 | -5.7 | -5.7 |
| 2023 | 3.7 | 4.5 | 5.7 | 3.7 |
| 2022 | 4.9 | 6.2 | 7.1 | 6.6 |
| 2021 | 4.6 | 5.1 | 5.5 | 4.8 |
| 2020 | 4.5 | 5.5 | 6.8 | 5.2 |
| 2019 | 1.2 | 1.5 | 6.2 | 6.2 |
| 2018 | 1.3 | 2.1 | 2.9 | 1.3 |
| 2017 | 10.9 | 12.9 | 14.4 | 13.5 |
| 2016 | 11.0 | 12.0 | 13.3 | 11.7 |
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How much the market pays for each dollar of annual profit. P/E = Stock Price / EPS. The raw number means little — what matters is whether it's high or low relative to the company's own history.
Price / Earnings Per ShareThe chart shows five color-coded historical zones: green (below 10th percentile) means historically very cheap, fading through lime and gray (the normal 25th–75th range) to orange and red (historically expensive). When the line sits in a green or lime zone, the stock is trading at an unusually low P/E relative to its own history.
- Cyclical businesses look cheapest on P/E at peak earnings — the "earnings trap." Use EV/EBITDA or normalised earnings for energy, materials, and financials.
- A falling P/E trend may signal a business in structural decline, not a buying opportunity.
Is BTI P/E ratio High or Low Right Now?
British American Tobacco p.l.c.'s P/E ratio is currently 9.5, which is historically pricey relative to its 10-year historical range. The 10-year median P/E ratio for BTI is approximately 4.7. See all BTI valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.