British American Tobacco p.l.c annual net debt
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
British American Tobacco p.l.c Net Debt Growth & History (BATS)
British American Tobacco p.l.c's net debt was £31.77B for fiscal 2025.
View full British American Tobacco p.l.c company overviewBritish American Tobacco p.l.c annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | £31.77B | −£466.0M | −1.45% |
| 2024 | 2024-12-31 | £32.24B | −£3.33B | −9.36% |
| 2023 | 2023-12-31 | £35.57B | −£4.64B | −11.54% |
| 2022 | 2022-12-31 | £40.21B | £2.92B | +7.82% |
| 2021 | 2021-12-31 | £37.30B | −£4.01B | −9.71% |
| 2020 | 2020-12-31 | £41.30B | −£2.12B | −4.87% |
| 2019 | 2019-12-31 | £43.42B | −£1.50B | −3.34% |
| 2018 | 2018-12-31 | £44.92B | −£1.24B | −2.68% |
| 2017 · Dec 31 | 2017-12-31 | £46.16B | £28.87B | +166.95% |
| 2016 | 2016-12-31 | £17.29B | — | — |
British American Tobacco p.l.c quarterly net debt
Q2.17
Q4.17
Q4.18
Q2.19
Q4.19
Q2.20
Q4.20
Q2.21
Q4.21
Q2.22
Q4.22
Q2.23
Q4.23
Q4.24
Q2.25
Q4.25
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | £32.55B | £1.74B | +5.65% |
| Q4 2025 | 2025-12-31 | £31.77B | −£466.0M | −1.45% |
| Q2 2025 | 2025-06-30 | £30.80B | — | — |
| Q4 2024 | 2024-12-31 | £32.24B | −£3.33B | −9.36% |
| Q4 2023 | 2023-12-31 | £35.57B | −£4.64B | −11.54% |
| Q2 2023 | 2023-06-30 | £38.49B | −£2.82B | −6.82% |
| Q4 2022 | 2022-12-31 | £40.21B | £2.92B | +7.82% |
| Q2 2022 | 2022-06-30 | £41.31B | −£689.0M | −1.64% |
| Q4 2021 | 2021-12-31 | £37.30B | −£4.01B | −9.71% |
| Q2 2021 | 2021-06-30 | £42.00B | −£3.68B | −8.06% |
| Q4 2020 | 2020-12-31 | £41.30B | −£2.12B | −4.87% |
| Q2 2020 | 2020-06-30 | £45.68B | −£1.31B | −2.78% |
| Q4 2019 | 2019-12-31 | £43.42B | −£1.50B | −3.34% |
| Q2 2019 | 2019-06-30 | £46.98B | — | — |
| Q4 2018 | 2018-12-31 | £44.92B | −£1.24B | −2.68% |
| Q4 2017 | 2017-12-31 | £46.16B | — | — |
| Q2 2017 | 2017-06-30 | £18.89B | — | — |
British American Tobacco p.l.c net debt trends
Over the last five fiscal years, British American Tobacco p.l.c's net debt decreased from £41.30B to £31.77B, a change of −£9.53B. The latest reported quarter, Q2 2026, shows £32.55B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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