BTI Q4 2017 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

Q4 2017 Earnings

Reported December 31, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2017	Q3 2017	Q4 2016	QoQ Change	YoY Change
Revenue	$16.4B	—	$10.1B	—	62.8%
Op. Income	$5.9B	—	$4.0B	—	49.9%
Gross Margin	74.5%	—	71.7%	—	2.8pp
Net Margin	290.0%	—	26.5%	—	263.5pp
EPS (Diluted)	$20.97	—	$1.17	—	1687.4%
Free Cash Flow	$4.1B	—	$4.2B	—	-1.4%

Revenue Flow

Item	Amount
REVENUE	$16.4B
Cost of Revenue	$4.2B
GROSS PROFIT	$12.2B
R&D Expenses	$258M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.0B
Other Expenses	$0
Operating Expenses	$24.5B
Cost & Expenses	$28.6B
OPERATING INCOME	$5.9B
Interest Income	$949M
Interest Expense	$0
Other Income/Expenses	$29.8B
INCOME BEFORE TAX	$35.7B
Income Tax Expense	-$11.9B
Net Income from Continuing Ops	$47.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$13M
NET INCOME	$47.5B
Net Income Deductions	-$65M
BOTTOM LINE NET INCOME	$47.6B
D&A	$516M
EBIT	$36.6B
EBITDA	$37.3B
EPS	$21
EPS Diluted	$21

Income Statement

Item	Amount
REVENUE	$16.4B
Cost of Revenue	$4.2B
GROSS PROFIT	$12.2B
R&D Expenses	$258M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.0B
Other Expenses	$0
Operating Expenses	$24.5B
Cost & Expenses	$28.6B
OPERATING INCOME	$5.9B
Interest Income	$949M
Interest Expense	$0
Other Income/Expenses	$29.8B
INCOME BEFORE TAX	$35.7B
Income Tax Expense	-$11.9B
Net Income from Continuing Ops	$47.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$13M
NET INCOME	$47.5B
Net Income Deductions	-$65M
BOTTOM LINE NET INCOME	$47.6B
D&A	$516M
EBIT	$36.6B
EBITDA	$37.3B
EPS	$21
EPS Diluted	$21

Cash Flow Statement

Item	Amount
Net Income	$47.5B
Depreciation & Amortization	$516M
Stock-Based Compensation	$158M
Deferred Income Tax	$0
Other Non-Cash Items	-$42.3B
Change in Working Capital	-$1.0B
OPERATING CASH FLOW	$4.9B
Capital Expenditure	-$800M
Acquisitions (Net)	-$23.8B
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$24.6B
Net Debt Issuance	$25.1B
Common Stock Repurchased	$13M
Common Dividends Paid	-$1.7B
Other Financing Activities	-$1.5B
NET CASH FROM FINANCING	$21.9B
FREE CASH FLOW	$4.1B
Net Change in Cash	$1.9B

Balance Sheet

Item	Amount
Cash & Equivalents	$4.2B
Short-Term Investments	$88M
Net Receivables	$0
Inventory	$7.9B
Other Current Assets	$1.9B
TOTAL CURRENT ASSETS	$18.8B
PP&E (Net)	$6.6B
Goodwill	$59.5B
Intangible Assets	$99.3B
Long-Term Investments	$2.1B
Tax Assets	$427M
Other Non-Current Assets	$3.4B
TOTAL NON-CURRENT ASSETS	$171.3B
TOTAL ASSETS	$190.2B
Account Payables	$11.9B
Short-Term Debt	$0
Deferred Revenue	$971M
Other Current Liabilities	$7.6B
TOTAL CURRENT LIABILITIES	$21.0B
Long-Term Debt	$59.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$23.1B
Other Non-Current Liabilities	$27.5B
TOTAL NON-CURRENT LIABILITIES	$86.9B
TOTAL LIABILITIES	$107.9B
Common Stock	$828M
Additional Paid-In Capital	$117M
Retained Earnings	$49.9B
Treasury Stock	$0
Accum. Other Comp. Income	$31.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$82.0B
Minority Interest	$299M
TOTAL EQUITY	$82.3B
TOTAL LIABILITIES & EQUITY	$190.2B
Total Debt	$66.7B
Net Debt	$62.4B