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Morningstar

Morningstar

Mar 24, 2026

British American Tobacco p.l.c.: British American Tobacco's Innovations Should Help Support Its Next-Generation Revenue Growth

Symbols

BTI

Sector(s)

Consumer Defensive

Rating

Current Price

58.71

Fair Value

Economic Moat

Stewardship

Summary

The third-largest tobacco company by volume, British American Tobacco sold 465 billion cigarettes in 2025. Its leading brands are Dunhill, Kent, Pall Mall, Lucky Strike, and Rothmans in cigarettes. Its ownership of the Camel, Natural American Spirit, and Newport brands are limited to the US. In next-generation products, the company has the Vuse brand in vaping, Glo in heated toba

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Analyst Profile

Kristoffer Inton

Director

Kristoffer Inton is director of equity research, basic materials for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers gold, aggregates and cement, and uranium companies.Before joining Morningstar in 2013, Inton was an investment banking associate for Guggenheim Securities in New York. Previously, he was an investment banking analyst for Merrill Lynch in Chicago and New York.Inton holds a bachelor’s degree in finance with high honors from the University of Illinois and a master’s degree in business administration with distinction from Northwestern University’s Kellogg School of Management.

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