Filing Flows › British American Tobacco p.l.c. (BTI) › Operating margin
British American Tobacco p.l.c. (BTI) operating margin by quarter
British American Tobacco p.l.c.'s operating margin was 33.1% in H1 2026 (H1 2026), +1.5 pts from H2 2025. Over the last 3 quarters it ranged from 31.6% (H2 2025) to 46.2% (H1 2025).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| H1 2026 | 33.1% | +1.5 pts | — |
| H2 2025 | 31.6% | -14.5 pts | — |
| H1 2025 | 46.2% | — | — |
H1 2026 at a glance
British American Tobacco p.l.c., H1 2026: revenue $12.2B (+1% year over year), operating margin 33.1%, net earnings $3.2B, operating cash flow $3.4B. The chart follows the revenue to costs, profit and cash.
Questions
What is British American Tobacco p.l.c.'s operating margin?
British American Tobacco p.l.c.'s operating margin was 33.1% in H1 2026 (H1 2026), +1.5 pts from H2 2025.
How has British American Tobacco p.l.c.'s operating margin changed?
Over the last 3 quarters it ranged from 31.6% (H2 2025) to 46.2% (H1 2025).
H1 2026 results → · How British American Tobacco p.l.c. makes money →