British American Tobacco Kenya (NAI:BAT) Net Margin %: 19.74% (As of Dec. 2025) — Near Median

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Founder & CEO of GuruFocus
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NAI:BAT British American Tobacco Kenya PLC NAI:BAT
69 GF Score
Price KES579.00
GF Value KES355.31
Valuation Significantly Overvalued
! 6 Warning Signs
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What is British American Tobacco Kenya Net Margin %?

British American Tobacco Kenya NAI:BAT -0.17% 69 Net Margin % is 19.74% as of Dec. 2025, which is 9% below its 10-year median of 21.79. GuruFocus rates NAI:BAT with a GF Score™ of 69/100 and a GF Value™ of KES355.31 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 48 Tobacco Products companies, British American Tobacco Kenya ranks better than 79.17% on this metric.

Net margin is calculated as Net Income divided by its Revenue. British American Tobacco Kenya's Net Income for the six months ended in Dec. 2025 was KES2,263 Mil. British American Tobacco Kenya's Revenue for the six months ended in Dec. 2025 was KES11,460 Mil. Therefore, British American Tobacco Kenya's net margin for the quarter that ended in Dec. 2025 was 19.74%.

The historical rank and industry rank for British American Tobacco Kenya's Net Margin % or its related term are showing as below:

NAI:BAT' s Net Margin % Range Over the Past 10 Years
Min: 16.16   Med: 21.79   Max: 25.5
Current: 22.62


NAI:BAT's Net Margin % is ranked better than
79.17% of 48 companies
in the Tobacco Products industry
Industry Median: 7.245 vs NAI:BAT: 22.62

British American Tobacco Kenya  (NAI:BAT) Net Margin % Explanation

Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.

But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.


British American Tobacco Kenya Net Margin % Related Terms


British American Tobacco Kenya Net Margin % Historical Data

* Premium members only.

The historical data trend for British American Tobacco Kenya's Net Margin % 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.

British American Tobacco Kenya Net Margin % Chart

British American Tobacco Kenya Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Net Margin %
Get a 7-Day Free Trial 25.50 25.17 21.79 17.43 22.62

British American Tobacco Kenya Semi-Annual Data
Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Net Margin % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 22.09 18.23 16.77 25.43 19.74

NAI:BAT vs PM, MO, TPB: Net Margin % Comparison

For the Tobacco subindustry, British American Tobacco Kenya's Net Margin %, along with its competitors' market caps and Net Margin % 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 Kenya Net Margin % vs Tobacco Products Industry

For the Tobacco Products industry and Consumer Defensive sector, British American Tobacco Kenya's Net Margin % distribution charts can be found below:

* The bar in red indicates where British American Tobacco Kenya's Net Margin % falls into.


NAI:BAT
69GF Score
British American Tobacco Kenya PLC NAI:BAT
Net Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
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British American Tobacco Kenya Net Margin % Calculation

Net margin - also known as net profit margin is the ratio of Net Income divided by net sales or Revenue, usually presented in percent.

British American Tobacco Kenya's Net Margin for the fiscal year that ended in Dec. 2025 is calculated as

Net Margin=Net Income (A: Dec. 2025 )/Revenue (A: Dec. 2025 )
=5245.617/23191.945
=22.62 %

British American Tobacco Kenya's Net Margin for the quarter that ended in Dec. 2025 is calculated as

Net Margin=Net Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=2262.617/11459.945
=19.74 %

* 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.

Frequently Asked Questions Learn more about Net Margin % →
What does a Net Margin % of 19.74% mean?
British American Tobacco Kenya (NAI:BAT) has a Net Margin % of 19.74% as of Dec. 2025. Net margin is the ratio of total net income to net sales. View historical data on British American Tobacco Kenya and its competitors. This is near median its historical median of 21.79. Over the past decade, British American Tobacco Kenya's Net Margin % has ranged from 16.16 to 25.50. According to the industry distribution chart, British American Tobacco Kenya ranks #10 out of 48 companies in the Tobacco Products industry, placing it in the top 20.8%.
Is British American Tobacco Kenya's Net Margin % too high?
British American Tobacco Kenya's current Net Margin % of 19.74% is near median its 10-year median of 21.79. Over the past 10 years, this metric has ranged from a low of 16.16 to a high of 25.50. The Tobacco Products industry median Net Margin % is 7.25. British American Tobacco Kenya's value of 19.74% is 172.5% above this industry median. Based on the distribution chart, British American Tobacco Kenya ranks #10 out of 48 companies in the Tobacco Products industry, which is in the top quartile — a strong position relative to peers. Overall, British American Tobacco Kenya has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does British American Tobacco Kenya's Net Margin % compare to PM and MO?
According to the Tobacco Products industry distribution chart, British American Tobacco Kenya ranks #10 out of 48 companies for Net Margin %. This places British American Tobacco Kenya in the top 21% of its industry — outperforming the majority of peers. The industry median Net Margin % is 7.25. British American Tobacco Kenya's value of 19.74% is 172.5% above this benchmark. Historically, British American Tobacco Kenya's own Net Margin % has ranged from 16.16 to 25.50 over the past decade. While the company's 10-year median is 21.79 vs. the industry median of 7.25, British American Tobacco Kenya 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 Net Margin % for a Tobacco Products company?
The median Net Margin % among Tobacco Products companies is 7.25, based on 48 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. British American Tobacco Kenya's current Net Margin % of 19.74% is 172.5% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on British American Tobacco Kenya and its competitors. For the Tobacco Products industry, the median Net Margin % is 7.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. British American Tobacco Kenya's current Net Margin % is 19.74%, which is near median its own 10-year median of 21.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is British American Tobacco Kenya stock overvalued right now?
Based on GuruFocus' analysis, British American Tobacco Kenya (NAI:BAT) is currently considered Significantly Overvalued. The stock's GF Value™ is KES355.31, compared to a current price of KES579.00 — trading 63% above its estimated fair value. The current Net Margin % is 19.74%, which is near median its 10-year median of 21.79 and 172.5% above the Tobacco Products industry median of 7.25. British American Tobacco Kenya's overall GF Score™ is 69/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For British American Tobacco Kenya (NAI:BAT), the current Net Margin % is 19.74% as of Dec. 2025. 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 British American Tobacco Kenya (NAI:BAT) Overvalued in 2026?

Based on GuruFocus' analysis, British American Tobacco Kenya stock appears to be overvalued. The current stock price of KES579.00 is trading 63% above its estimated GF Value™ of KES355.31. GuruFocus considers British American Tobacco Kenya to be Significantly Overvalued.

Key valuation signals for NAI:BAT:

  • Net Margin %: 19.74% (near median its 10-year median of 21.79)
  • GF Value™: KES355.31 vs. price of KES579.00 (63% above fair value)
  • GF Score™: 69/100 with 6 warning signs
  • Industry Position: 172.5% above the Tobacco Products median (#10 of 48)

No single metric tells the full story. See the NAI:BAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


British American Tobacco Kenya Business Description

Address 08 Likoni Road, P. O. Box 30000, Industrial Area, Nairobi, KEN, 00100
British American Tobacco Kenya PLC multi-category consumer goods business that operates internationally. The business activities of the company involves activities ranging from the growing of tobacco leaf to the distribution and sale of finished tobacco products and nicotine products without tobacco. The product portfolio of the company comprises a range of high-quality and creative products, including cigarettes (combustible products), cut-rug tobacco (unprocessed tobacco), and potentially reduced-risk category of tobacco-free oral nicotine products.
69GF Score

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Net Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

KES579.00
Price
KES355.31
GF Value