Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Imperial Brands PLC is a British multinational tobacco company, recognized as the world's fourth-largest international cigarette producer by market share and the leading British manufacturer of tobacco products. Headquartered in Bristol, England, it operates as a global consumer-focused business with a distinctive challenger role in the evolving tobacco and nicotine industry, selling products in over 120 countries through 30 factories worldwide. The company maintains a strong portfolio of combustible products, including iconic cigarette brands like Davidoff, West, Gauloises, Kool, Winston, Embassy, and John Player Special, alongside fine-cut tobaccos such as Golden Virginia and Drum, rolling papers like Rizla, and cigars. Strategically, Imperial Brands is diversifying into smoke-free alternatives, with innovative offerings like the blu e-cigarette brand, Pulze and iD heated tobacco systems, and Zone X and Skruf nicotine pouches, now available in more than 20 markets. Its purpose centers on creating potentially less harmful products for adult consumers while pursuing Net Zero emissions by 2040, fostering a consumer-centric, agile enterprise listed on the London Stock Exchange as a FTSE 100 constituent.
10.85% operating margin is respectable but not wide. ROIC at 16.22%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 0.7% YoY. The question is whether this is cyclical or a structural shift.
ROIC dropped from 20.47% to 16.22%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
£32.17B
▼ -0.7% YoY
Net Income (TTM)
£2.22B
▼ -19.2% YoY
Op. Margin
10.85%
▼ -0.1pp YoY
ROIC
16.22%
▼ -4.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
£3.17B
▲ +9.4% YoY
Op. Cash Flow (TTM)
£3.23B
▼ -7.3% YoY
Net Debt
£8.56B
Cash & Equiv.
£1.44B
3Y CAGR: -0.4%
3Y CAGR: -0.1%
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