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British American Tobacco

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A multinational tobacco company

London, United KingdomFounded 1902Health
Valuation $163B Market cap · 2026
Revenue $26B Latest reported FY
EBITDA $19B Latest reported FY

About British American Tobacco

British American Tobacco plc, known globally by its web domain BAT.com, is a British multinational consumer goods firm with a history dating back to 1902 that has established itself as one of the world’s largest tobacco manufacturers. From its headquarters in London, England, BAT produces and markets an extensive portfolio of tobacco and nicotine products that include traditional cigarettes and a growing range of alternative nicotine delivery systems such as vapour devices, heated tobacco units, and modern oral products. The company’s portfolio features internationally recognised brands and local favourites sold across more than 180 markets, and its strategic direction in recent years has focused on transitioning its business toward reduced-risk products as part of an overarching ambition to build what it calls “a smokeless world.” While cigarettes remain a core revenue driver, BAT invests in product innovation and science to develop and expand offerings that it frames as less harmful alternatives to combustible tobacco. As a publicly traded company listed on the London Stock Exchange and a member of the FTSE 100, BAT reports billions in annual revenue and operates a global supply, manufacturing, and distribution network. The company’s sustainability communications emphasise its tobacco harm reduction mission and integration of environmental, social, and governance considerations across its operations. With tens of thousands of employees worldwide, BAT continues to balance the demands of regulatory scrutiny, shifting consumer preferences, and competitive forces in the broader nicotine and consumer goods landscape.

Source: Dealroom company data

At a glance

Status
Listed
Founded
1902
Headquarters
London, United Kingdom
Listing
IPO 1995
Employees
46,668
Open positions
336
Dealroom signal
0.0/100
Industry
Health
Sector
Health, Tobacco, Outside Tech
Client focus
b2c
Investment activity
10 companies, latest Mar 2026
Capital deployed
$38M
Preferred round
ACQUISITION

Funding history

5 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
POST IPO DEBT✓Debt Aug 2026 $1.5B — Bank of China · BBVA · Citigroup Financial Products · Commerzbank ↗
POST IPO DEBT✓Debt Sep 2025 $750M — Undisclosed ↗
Showing the latest 2 of 5 recorded eventsBook a demo for the full funding history →

Financials

Revenue, earnings and profit over time

Revenue, earnings and other financial measures where available. Years marked “E” are estimates.

YearRevenueGrowthEBITDAMarginProfitMarginR&D
2026 $26B -22.6% $19B 71.8% $10B 39.2% $176M
2025 $34B -1% $19B 55.5% $10B 30.3% $176M
2024 $34B -5.2% $10B 29.9% $4.1B 11.9% $231M
2023 $36B -1.3% $13B 36.5% $240M
2022 $37B +7.7% $17B 46%
2021 $34B -0.4% $16B 45.8%
2020 $34B — $16B 46.2%
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Growth signals

British American Tobacco website traffic

Latest recorded traffic for British American Tobacco is 480K monthly website visits, up 60% over the last three months.

Latest monthly visits480K 3-month web change+60%
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Similar companies

Closest operating peers by Dealroom taxonomy

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Showing 8 of the closest matchesCompare every metric →

Investors

12 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series B and later10 investors entered at this stage

  • Bank of China
  • BBVA
  • Citigroup Financial Products
  • Commerzbank
  • Deutsche Bank
  • Emirates NBD
  • Goldman Sachs
  • Lloyds
  • Santander UK
  • Wells Fargo Securities

Other known investors2 additional known investors

  • Systems Limited
  • WSD Capital Management
Team profiled 735 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 4 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
🇬🇧 United Kingdom · London HQ
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Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about British American Tobacco on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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