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Imperial BrandsSTU:ITBA 65 EV-to-OCF is 8.86 as of Aug. 19, 2026, which is 9% below its 10-year median of 9.69. GuruFocus rates STU:ITBA with a GF Score™ of 65/100 and a GF Value™ of €14.46 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 48 Tobacco Products companies, Imperial Brands ranks worse than 56.25% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Imperial Brands's Enterprise Value is €35,983 Mil.
Imperial Brands's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was €4,059 Mil. Therefore, Imperial Brands's EV-to-OCF for today is 8.86.
The historical rank and industry rank for Imperial Brands's EV-to-OCF or its related term are showing as below:
STU:ITBA'
s EV-to-OCF Range Over the Past 10 Years
Min: 5.58 Med: 9.69 Max: 18.93
Current: 8.74
During the past 13 years, the highest EV-to-OCF of Imperial Brands was 18.93. The lowest was 5.58. And the median was 9.69.
STU:ITBA's EV-to-OCF is ranked worse than 56.25% of 48
companies
in the Tobacco Products industry
Industry Median: 7.365
vs STU:ITBA: 8.74
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Imperial Brands's PE Ratio (TTM) for today is calculated as:
Imperial Brands's share price for today is €30.00.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Imperial Brands's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was €2.449.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Imperial Brands EV-to-OCF Related Terms
Imperial Brands EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Imperial Brands's EV-to-OCF 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.
For the Tobacco subindustry, Imperial Brands's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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.
Imperial Brands EV-to-OCF vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, Imperial Brands's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Imperial Brands's EV-to-OCF falls into.
Imperial Brands's current Enterprise Value is €35,983 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Imperial Brands's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was €4,059 Mil.
* 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.
Imperial Brands (STU:ITBA) has a EV-to-OCF of 8.86 as of Aug. 19, 2026. This is near median its historical median of 9.69. Over the past decade, Imperial Brands' EV-to-OCF has ranged from 5.58 to 18.93. According to the industry distribution chart, Imperial Brands ranks #27 out of 48 companies in the Tobacco Products industry, placing it in the top 56.2%.
Is Imperial Brands' EV-to-OCF too high?
Imperial Brands' current EV-to-OCF of 8.86 is near median its 10-year median of 9.69. Over the past 10 years, this metric has ranged from a low of 5.58 to a high of 18.93. The Tobacco Products industry median EV-to-OCF is 7.37. Imperial Brands' value of 8.86 is 20.3% above this industry median. Based on the distribution chart, Imperial Brands ranks #27 out of 48 companies in the Tobacco Products industry, which is below the industry midpoint. Overall, Imperial Brands has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Imperial Brands' EV-to-OCF compare to PM and MO?
According to the Tobacco Products industry distribution chart, Imperial Brands ranks #27 out of 48 companies for EV-to-OCF. This places Imperial Brands in the lower half of its industry. The industry median EV-to-OCF is 7.37. Imperial Brands' value of 8.86 is 20.3% above this benchmark. Historically, Imperial Brands' own EV-to-OCF has ranged from 5.58 to 18.93 over the past decade. While the company's 10-year median is 9.69 vs. the industry median of 7.37, Imperial Brands has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Tobacco Products company?
The median EV-to-OCF among Tobacco Products companies is 7.37, based on 48 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Imperial Brands's current EV-to-OCF of 8.86 is 20.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Tobacco Products industry, the median EV-to-OCF is 7.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Imperial Brands's current EV-to-OCF is 8.86, which is near median its own 10-year median of 9.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Imperial Brands stock overvalued right now?
Based on GuruFocus' analysis, Imperial Brands (STU:ITBA) is currently considered Significantly Overvalued. The stock's GF Value™ is €14.46, compared to a current price of €30.00 — trading 107.5% above its estimated fair value. The current EV-to-OCF is 8.86, which is near median its 10-year median of 9.69 and 20.3% above the Tobacco Products industry median of 7.37. Imperial Brands' overall GF Score™ is 65/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Imperial Brands (STU:ITBA), the current EV-to-OCF is 8.86 as of Aug. 19, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Imperial Brands (STU:ITBA) Overvalued in 2026?
Based on GuruFocus' analysis, Imperial Brands stock appears to be overvalued.
The current stock price of €30.00 is trading 107.5% above its estimated GF Value™ of €14.46.
GuruFocus considers Imperial Brands to be Significantly Overvalued.
Key valuation signals for STU:ITBA:
EV-to-OCF: 8.86 (near median its 10-year median of 9.69)
GF Value™: €14.46 vs. price of €30.00 (107.5% above fair value)
Industry Position: 20.3% above the Tobacco Products median (#27 of 48)
No single metric tells the full story. See the STU:ITBA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Imperial Brands is the world's fourth-largest international tobacco company (excluding China National Tobacco), with total fiscal 2025 volume of 187 billion cigarettes sold in more than 120 countries. Its largest and most important markets are the US (where it sits as the third-largest manufacturer, following its acquisition of the Winston and Blu brands), Germany, the UK, Spain, and Australia. The firm also holds a leading global position in the fine-cut tobacco and hand-rolling paper categories. It has a logistics platform in Western Europe, Altadis.
65GF Score
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