Dilution profile // every instrument, one screen, from SEC filings

British American Tobacco p.l.c. (BTI)

CIK 1303523 · all EDGAR filings →

Overall dilution risk
HIGHworst of 2 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGHF-3ASR on file 2025-07-01
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
LOW-6% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
NOT COMPUTEDrunway not computable from latest facts
= cash vs trailing operating burn

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2017-12-312025-12-31

Latest: 2.31B shares as of Dec 31, 2025 (20-F). Share count fell from 2456520.74B to 2.46B between Dec 31, 2019 and Dec 31, 2020, a pattern consistent with a reverse split (roughly 1-for-999971); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Not enough filing data

can’t compute a runway

Full breakdown: cash runway tool

Warrants

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

The latest 10-Q/10-K instance document could not be checked just now, so nothing is shown rather than guessed. Try again shortly.

Registrations and offerings

F-3ASRJul 1, 2025fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →

Last 12 months: 4 executed · 0 registered.

MARKETINGAug 4, 2026Free-writing prospectus — offering being marketedFWP
MARKETINGAug 4, 2026Free-writing prospectus — offering being marketedFWP
EXECUTEDAug 4, 2026Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2
EXECUTEDAug 3, 2026Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2
EXECUTEDSep 22, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2
EXECUTEDSep 18, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2
MARKETINGSep 18, 2025Free-writing prospectus — offering being marketedFWP
REGISTEREDJul 1, 2025Automatic shelf registration — effective immediately (large filers)F-3ASR
EXECUTEDMar 13, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2
MARKETINGMar 12, 2025Free-writing prospectus — offering being marketedFWP
MARKETINGMar 12, 2025Free-writing prospectus — offering being marketedFWP
EXECUTEDMar 11, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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