BTI Q4 2021 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

Q4 2021 Earnings

Reported December 31, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2021	Q3 2021	Q4 2020	QoQ Change	YoY Change
Revenue	$18.2B	—	$18.2B	—	0.0%
Op. Income	$8.0B	—	$7.9B	—	1.2%
Gross Margin	81.7%	—	81.9%	—	-0.2pp
Net Margin	26.2%	—	21.8%	—	4.4pp
EPS (Diluted)	$2.08	—	$1.73	—	20.3%
Free Cash Flow	$8.3B	—	$6.5B	—	27.8%

Revenue Flow

Item	Amount
REVENUE	$18.2B
Cost of Revenue	$3.3B
GROSS PROFIT	$14.9B
R&D Expenses	$218M
Selling & Marketing	$1.7B
General & Administrative	$1.7B
SG&A Expenses	$3.4B
Other Expenses	$127M
Operating Expenses	$7.5B
Cost & Expenses	$10.8B
OPERATING INCOME	$8.0B
Interest Income	$949M
Interest Expense	$0
Other Income/Expenses	-$1.2B
INCOME BEFORE TAX	$6.4B
Income Tax Expense	$1.5B
Net Income from Continuing Ops	$4.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$229M
NET INCOME	$4.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.8B
D&A	$746M
EBIT	$7.2B
EBITDA	$7.9B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$18.2B
Cost of Revenue	$3.3B
GROSS PROFIT	$14.9B
R&D Expenses	$218M
Selling & Marketing	$1.7B
General & Administrative	$1.7B
SG&A Expenses	$3.4B
Other Expenses	$127M
Operating Expenses	$7.5B
Cost & Expenses	$10.8B
OPERATING INCOME	$8.0B
Interest Income	$949M
Interest Expense	$0
Other Income/Expenses	-$1.2B
INCOME BEFORE TAX	$6.4B
Income Tax Expense	$1.5B
Net Income from Continuing Ops	$4.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$229M
NET INCOME	$4.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.8B
D&A	$746M
EBIT	$7.2B
EBITDA	$7.9B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$4.8B
Depreciation & Amortization	$746M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$306M
Change in Working Capital	$2.8B
OPERATING CASH FLOW	$9.1B
Capital Expenditure	-$769M
Acquisitions (Net)	-$119M
Purchases of Investments	-$201M
Sales/Maturities of Investments	$54M
Other Investing Activities	-$473M
NET CASH FROM INVESTING	-$1.0B
Net Debt Issuance	-$7.7B
Common Stock Repurchased	$0
Common Dividends Paid	-$3.3B
Other Financing Activities	-$1.3B
NET CASH FROM FINANCING	-$8.4B
FREE CASH FLOW	$8.3B
Net Change in Cash	-$276M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.8B
Short-Term Investments	$615M
Net Receivables	$5.5B
Inventory	$7.1B
Other Current Assets	$263M
TOTAL CURRENT ASSETS	$17.3B
PP&E (Net)	$6.7B
Goodwill	$58.2B
Intangible Assets	$97.7B
Long-Term Investments	$2.1B
Tax Assets	$824M
Other Non-Current Assets	$2.5B
TOTAL NON-CURRENT ASSETS	$167.9B
TOTAL ASSETS	$185.2B
Account Payables	$12.9B
Short-Term Debt	$5.2B
Deferred Revenue	$0
Other Current Liabilities	$938M
TOTAL CURRENT LIABILITIES	$20.4B
Long-Term Debt	$47.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$22.2B
Other Non-Current Liabilities	$3.6B
TOTAL NON-CURRENT LIABILITIES	$73.9B
TOTAL LIABILITIES	$94.3B
Common Stock	$828M
Additional Paid-In Capital	$280M
Retained Earnings	$66.5B
Treasury Stock	-$6.9B
Accum. Other Comp. Income	-$6.0B
Other Equity	$29.8B
TOTAL STOCKHOLDERS' EQUITY	$90.5B
Minority Interest	$404M
TOTAL EQUITY	$90.9B
TOTAL LIABILITIES & EQUITY	$185.2B
Total Debt	$53.5B
Net Debt	$49.7B