British American Tobacco Zimbabwe (Holdings) Past Earnings Performance

Past criteria checks 4/6

British American Tobacco Zimbabwe (Holdings) has been growing earnings at an average annual rate of 43.8%, while the Tobacco industry saw earnings growing at 32% annually. Revenues have been declining at an average rate of 21.6% per year. British American Tobacco Zimbabwe (Holdings)'s return on equity is 43.3%, and it has net margins of 32.1%.

Key information

43.81%

Earnings growth rate

35.43%

EPS growth rate

Tobacco Industry Growth	39.17%
Revenue growth rate	-21.59%
Return on equity	43.30%
Net Margin	32.14%
Last Earnings Update	30 Jun 2025

Recent past performance updates

No updates

Recent updates

Revenue & Expenses Breakdown

How British American Tobacco Zimbabwe (Holdings) makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

ZMSE:BAT Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses
30 Jun 25	31	10	6
31 Mar 25	34	1	6
31 Dec 24	36	-7	7
30 Sep 24	-2,452	819	-521
30 Jun 24	-3,035	294	-646
31 Mar 24	-1,494	151	-319
31 Dec 23	47	9	7
30 Sep 23	1,702	-102	360
30 Jun 23	3,357	-213	712
31 Mar 23	1,860	-69	395
31 Dec 22	362	74	78
30 Sep 22	252	37	55
30 Jun 22	143	0	33
31 Mar 22	96	8	23
31 Dec 21	50	15	12
30 Sep 21	35	10	9
30 Jun 21	20	4	6
31 Mar 21	15	2	4
31 Dec 20	10	0	3
30 Sep 20	8	0	2
30 Jun 20	6	0	1
31 Mar 20	5	0	1
31 Dec 19	5	0	1
30 Sep 19	3	0	1
30 Jun 19	2	0	1
31 Mar 19	2	0	0
31 Dec 18	1	0	0
30 Sep 18	11	3	4
30 Jun 18	20	6	7
31 Mar 18	28	8	10
31 Dec 17	37	11	13
30 Sep 17	35	10	13
30 Jun 17	34	9	13
31 Mar 17	34	9	14
31 Dec 16	34	8	14
30 Sep 16	37	10	15
30 Jun 16	40	11	15
31 Mar 16	43	13	15
31 Dec 15	45	15	14
30 Sep 15	46	16	13
30 Jun 15	46	16	12
31 Mar 15	45	15	12
31 Dec 14	45	13	12

Quality Earnings: BAT has high quality earnings.

Growing Profit Margin: BAT's current net profit margins (32.1%) are higher than last year (-9.7%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: BAT's earnings have grown significantly by 43.8% per year over the past 5 years.

Accelerating Growth: BAT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BAT had negative earnings growth (-96.6%) over the past year, making it difficult to compare to the Tobacco industry average (9.2%).

Return on Equity

High ROE: BAT's Return on Equity (43.3%) is considered outstanding.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/11/03 09:03
End of Day Share Price	2025/10/31 00:00
Earnings	2025/06/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

British American Tobacco Zimbabwe (Holdings) Limited is covered by 1 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	IH Securities (Pvt) Limited