Professional
Added to YB: 2023-12-12
Pitch date: 2023-12-12
BTI [bullish]
British American Tobacco p.l.c.
+133.67%
current return
Author Info
Bireme Capital uses a value-oriented, bottom-up analysis to identify high IRR opportunities in publicly listed equities. Visit the website.
Company Info
British American Tobacco p.l.c. provides tobacco and nicotine products to consumers in the United States, Europe, Latin America, Canada, the Asia-Pacific, the Middle East, Central Asia, Caucasus, and Africa.
Market Cap
GBP 94.2B
Pitch Price
GBP 18.86
Price Target
N/A
Dividend
5.64%
EV/EBITDA
9.29
P/E
12.44
EV/Sales
4.91
Sector
Tobacco
Category
value
Bireme Capital on $BAT
$BTI: Undervalued tobacco giant at 8x FCF; 40% 5yr drop due to ESG headwinds; strong cig & growing NGP brands (Vuse, Glo, Velo); expects £5B NGP rev by '25 w/ high margins; regulatory risk mitigated by global presence; 30% ITC stake undervalued; current misapprehension = attractive entry & high div yield.
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