BTI Q4 2019 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

Q4 2019 Earnings

Reported December 31, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2019	Q3 2019	Q4 2018	QoQ Change	YoY Change
Revenue	$18.5B	—	$17.3B	—	6.6%
Op. Income	$7.9B	—	$7.3B	—	7.5%
Gross Margin	82.5%	—	82.3%	—	0.2pp
Net Margin	21.1%	—	26.0%	—	-4.9pp
EPS (Diluted)	$1.70	—	$2.00	—	-14.9%
Free Cash Flow	$7.2B	—	$7.9B	—	-8.9%

Revenue Flow

Item	Amount
REVENUE	$18.5B
Cost of Revenue	$3.2B
GROSS PROFIT	$15.2B
R&D Expenses	$321M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.9B
Other Expenses	$181M
Operating Expenses	$8.6B
Cost & Expenses	$11.8B
OPERATING INCOME	$7.9B
Interest Income	$1.2B
Interest Expense	$0
Other Income/Expenses	$1.2B
INCOME BEFORE TAX	$5.5B
Income Tax Expense	$1.5B
Net Income from Continuing Ops	$3.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$324M
NET INCOME	$3.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.9B
D&A	$1.3B
EBIT	$6.3B
EBITDA	$7.6B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$18.5B
Cost of Revenue	$3.2B
GROSS PROFIT	$15.2B
R&D Expenses	$321M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.9B
Other Expenses	$181M
Operating Expenses	$8.6B
Cost & Expenses	$11.8B
OPERATING INCOME	$7.9B
Interest Income	$1.2B
Interest Expense	$0
Other Income/Expenses	$1.2B
INCOME BEFORE TAX	$5.5B
Income Tax Expense	$1.5B
Net Income from Continuing Ops	$3.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$324M
NET INCOME	$3.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.9B
D&A	$1.3B
EBIT	$6.3B
EBITDA	$7.6B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$3.9B
Depreciation & Amortization	$1.3B
Stock-Based Compensation	$162M
Deferred Income Tax	$0
Other Non-Cash Items	$940M
Change in Working Capital	$2.5B
OPERATING CASH FLOW	$8.0B
Capital Expenditure	-$783M
Acquisitions (Net)	$13M
Purchases of Investments	-$163M
Sales/Maturities of Investments	$298M
Other Investing Activities	$74M
NET CASH FROM INVESTING	-$635M
Net Debt Issuance	-$3.7B
Common Stock Repurchased	$0
Common Dividends Paid	-$3.1B
Other Financing Activities	$2.4B
NET CASH FROM FINANCING	-$7.8B
FREE CASH FLOW	$7.2B
Net Change in Cash	$189M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.4B
Short-Term Investments	$166M
Net Receivables	$4.5B
Inventory	$8.2B
Other Current Assets	$1.6B
TOTAL CURRENT ASSETS	$17.9B
PP&E (Net)	$7.4B
Goodwill	$59.7B
Intangible Assets	$100.4B
Long-Term Investments	$2.4B
Tax Assets	$572M
Other Non-Current Assets	$1.7B
TOTAL NON-CURRENT ASSETS	$172.2B
TOTAL ASSETS	$190.1B
Account Payables	$13.1B
Short-Term Debt	$9.6B
Deferred Revenue	$921M
Other Current Liabilities	$1.8B
TOTAL CURRENT LIABILITIES	$25.4B
Long-Term Debt	$51.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$23.0B
Other Non-Current Liabilities	$3.7B
TOTAL NON-CURRENT LIABILITIES	$78.2B
TOTAL LIABILITIES	$103.6B
Common Stock	$828M
Additional Paid-In Capital	$127M
Retained Earnings	$54.2B
Treasury Stock	$0
Accum. Other Comp. Income	$30.8B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$86.2B
Minority Interest	$348M
TOTAL EQUITY	$86.5B
TOTAL LIABILITIES & EQUITY	$190.1B
Total Debt	$61.2B
Net Debt	$57.8B