British American Tobacco (British American Tobacco) EBIT : $-19,227 Mil (TTM As of Dec. 2023)

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What is British American Tobacco EBIT?

British American Tobacco's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was $-27,086 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $-19,227 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. British American Tobacco's annualized ROC % for the quarter that ended in Dec. 2023 was -21.92%. British American Tobacco's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -941.34%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. British American Tobacco's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -17.18%.

British American Tobacco EBIT Historical Data

The historical data trend for British American Tobacco's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

British American Tobacco EBIT Chart

British American Tobacco Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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12,712.98

14,053.76

14,167.55

13,382.46

-19,207.60

British American Tobacco Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT	Get a 7-Day Free Trial															7,312.50	4,775.86	8,658.95	7,858.59	-27,086.08

Competitive Comparison of British American Tobacco's EBIT

For the Tobacco subindustry, British American Tobacco's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

British American Tobacco's EV-to-EBIT Distribution in the Tobacco Products Industry

For the Tobacco Products industry and Consumer Defensive sector, British American Tobacco's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where British American Tobacco's EV-to-EBIT falls into.

British American Tobacco EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was $-19,227 Mil.

British American Tobacco (NYSE:BTI) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

British American Tobacco's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-41924.05 * ( 1 - 18.51% )	/	( (173041.666	+	138621.52)	/ 2 )
=	-34163.908345	/	155831.593
=	-21.92 %

where

	Invested Capital		(Q: Jun. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	184434.343	-	12780.303	-	( 5217.172	-	max(0, 20443.182	-	19055.556	+	5217.172	))
=	173041.666

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	150273.418	-	13534.177	-	( 3751.899	-	max(0, 19839.241	-	17956.962	+	3751.899	))
=	138621.52

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

British American Tobacco's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-54172.152	/	( ( (5708.333 + max(-255.051, 0))	+	(5801.266 + max(-160.76, 0)) )	/	2 )
=	-54172.152	/	( ( 5708.333	+	5801.266 )	/	2 )
=	-54172.152	/	5754.7995
=	-941.34 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(5327.02	+	7113.636	+	1397.728)	-	(12780.303	+	0	+	1313.132)
=	-255.051

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4583.544	+	6250.633	+	3370.886)	-	(13534.177	+	0	+	831.646)
=	-160.76

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

British American Tobacco's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	-19227.49	/	111908.602
	=	-17.18 %

British American Tobacco EBIT Related Terms

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British American Tobacco (British American Tobacco) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Tobacco Products » British American Tobacco PLC (NYSE:BTI) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

BTI:South Africa BTAFF:USA BATSl:UK BATS:UK BMTA:Germany BMT:Germany BMT:Germany BMT:Germany BMTA:Germany BMT:Germany B1TI34:Brazil

Address

Globe House, 4 Temple Place, London, GBR, WC2R 2PG

Website

https://www.bat.com

Following the acquisition of Reynolds American, British American Tobacco is neck-and-neck with Philip Morris International to be the largest listed Global tobacco company--slightly larger than PMI on net revenue, but slightly smaller on total tobacco volume. British American's Global Drive Brands are Dunhill, Kent, Pall Mall, Lucky Strike, and Rothmans, and it also owns Newport and Camel in the U.S. The firm also sells vapor e-cigarettes, primarily its Vuse brand, heated tobacco, with Glo, as well Velo modern oral tobacco products. The company holds 29% of ITC Limited, the leading Indian cigarette-maker.