Filing Flows › British American Tobacco p.l.c. (BTI) › How it makes money
How British American Tobacco p.l.c. (BTI) makes money
British American Tobacco p.l.c. (BTI) made $12.2B of revenue in the H1 2026 (H1 2026), +1% from a year earlier. Combustibles brought in $9.6B (78%); Smokeless brought in $2.4B (20%); Other brought in $252M (2%). Of every dollar of revenue, 33¢ was left as operating profit, 26¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, H1 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Combustibles | $9.6B | 78.1% | — | +0.5% |
| Smokeless | $2.4B | 19.8% | — | +10% |
| ↳ Modern Oral | $784M | 6.4% | — | +67% |
| ↳ Vapour | $763M | 6.2% | — | +4% |
| ↳ Traditional Oral | $494M | 4.0% | — | -9% |
| ↳ HP | $381M | 3.1% | — | -14% |
| Other | $252M | 2.1% | — | -30% |
Where each dollar of revenue goes
| Line | H1 2026 | % of revenue |
|---|---|---|
| Revenue | $12.2B | 100.0% |
| Operating profit | $4.1B | 33.1% |
| Income tax | $824M | 6.7% |
| Net earnings | $3.2B | 26.1% |
| Operating cash flow | $3.4B | 27.8% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| H1 2026 | $12.2B | +1% |
From British American Tobacco p.l.c.'s 6-K filed Jul 30, 2026 (on EDGAR).
Questions
How does British American Tobacco p.l.c. make money?
British American Tobacco p.l.c. (BTI) made $12.2B of revenue in the H1 2026 (H1 2026), +1% from a year earlier. Combustibles brought in $9.6B (78%); Smokeless brought in $2.4B (20%); Other brought in $252M (2%). Of every dollar of revenue, 33¢ was left as operating profit, 26¢ was left as net earnings.
What is British American Tobacco p.l.c.'s biggest business?
Combustibles: $9.6B in the H1 2026, 78% of revenue, +0.5% from a year earlier.
What is British American Tobacco p.l.c.'s profit margin?
Net earnings were $3.2B, 26.1% of revenue, in the H1 2026; the operating margin was 33.1%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.