BTI Q4 2016 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

Q4 2016 Earnings

Reported December 31, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2016	Q3 2016	Q4 2015	QoQ Change	YoY Change
Revenue	$10.1B	—	$9.0B	—	11.3%
Op. Income	$4.0B	—	$3.3B	—	19.4%
Gross Margin	71.7%	—	76.5%	—	-4.8pp
Net Margin	26.5%	—	24.5%	—	2.0pp
EPS (Diluted)	$1.17	—	$0.98	—	19.2%
Free Cash Flow	$4.2B	—	$4.1B	—	1.8%

Revenue Flow

Item	Amount
REVENUE	$10.1B
Cost of Revenue	$2.8B
GROSS PROFIT	$7.2B
R&D Expenses	$194M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.5B
Other Expenses	$0
Operating Expenses	$3.0B
Cost & Expenses	$5.9B
OPERATING INCOME	$4.0B
Interest Income	$376M
Interest Expense	$0
Other Income/Expenses	$838M
INCOME BEFORE TAX	$3.8B
Income Tax Expense	$972M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$1.1B
NET INCOME	$2.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.7B
D&A	$349M
EBIT	$3.2B
EBITDA	$3.6B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$10.1B
Cost of Revenue	$2.8B
GROSS PROFIT	$7.2B
R&D Expenses	$194M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.5B
Other Expenses	$0
Operating Expenses	$3.0B
Cost & Expenses	$5.9B
OPERATING INCOME	$4.0B
Interest Income	$376M
Interest Expense	$0
Other Income/Expenses	$838M
INCOME BEFORE TAX	$3.8B
Income Tax Expense	$972M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$1.1B
NET INCOME	$2.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.7B
D&A	$349M
EBIT	$3.2B
EBITDA	$3.6B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$2.7B
Depreciation & Amortization	$349M
Stock-Based Compensation	$113M
Deferred Income Tax	$0
Other Non-Cash Items	$2.9B
Change in Working Capital	-$1.3B
OPERATING CASH FLOW	$4.8B
Capital Expenditure	-$628M
Acquisitions (Net)	-$77M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$139M
NET CASH FROM INVESTING	-$566M
Net Debt Issuance	-$2.3B
Common Stock Repurchased	$0
Common Dividends Paid	-$1.3B
Other Financing Activities	-$295M
NET CASH FROM FINANCING	-$4.3B
FREE CASH FLOW	$4.2B
Net Change in Cash	$258M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.8B
Short-Term Investments	$20M
Net Receivables	$3.6B
Inventory	$7.8B
Other Current Assets	$2.2B
TOTAL CURRENT ASSETS	$16.7B
PP&E (Net)	$4.9B
Goodwill	$14.9B
Intangible Assets	$1.5B
Long-Term Investments	$12.9B
Tax Assets	$588M
Other Non-Current Assets	$2.2B
TOTAL NON-CURRENT ASSETS	$37.0B
TOTAL ASSETS	$53.6B
Account Payables	$9.9B
Short-Term Debt	$0
Deferred Revenue	$752M
Other Current Liabilities	$5.3B
TOTAL CURRENT LIABILITIES	$16.0B
Long-Term Debt	$22.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$879M
Other Non-Current Liabilities	$4.1B
TOTAL NON-CURRENT LIABILITIES	$26.3B
TOTAL LIABILITIES	$42.3B
Common Stock	$684M
Additional Paid-In Capital	$111M
Retained Earnings	$4.5B
Treasury Stock	$0
Accum. Other Comp. Income	$5.6B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$11.0B
Minority Interest	$302M
TOTAL EQUITY	$11.3B
TOTAL LIABILITIES & EQUITY	$53.6B
Total Debt	$26.3B
Net Debt	$23.5B