BTI vs. MO

Last updated Jun 3, 2026

BTI (British American Tobacco p.l.c.) and MO (Altria Group, Inc.) are both stocks. Both operate in the Tobacco industry within the Consumer Defensive sector. Over the past 10 years, BTI returned 6.75%/yr vs 7.61%/yr for MO. At a 0.31 correlation, their price movements are largely independent.

Performance

BTI vs. MO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in British American Tobacco p.l.c. (BTI) and Altria Group, Inc. (MO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTI achieves a 8.33% return, which is significantly lower than MO's 22.10% return. Over the past 10 years, BTI has underperformed MO with an annualized return of 6.75%, while MO has yielded a comparatively higher 7.61% annualized return.

BTI

• 1D: -0.89%
• 1M: 2.98%
• YTD: 8.33%
• 6M: 7.29%
• 1Y: 41.12%
• 3Y*: 33.38%
• 5Y*: 17.85%
• 10Y*: 6.75%

MO

• 1D: 0.86%
• 1M: -7.12%
• YTD: 22.10%
• 6M: 21.88%
• 1Y: 22.23%
• 3Y*: 24.53%
• 5Y*: 15.47%
• 10Y*: 7.61%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BTI vs. MO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTI British American Tobacco p.l.c.	8.33%	65.81%	35.44%	-19.97%	14.91%	7.95%	-4.73%	42.97%	-49.35%	24.40%
MO Altria Group, Inc.	22.10%	18.17%	40.76%	-3.70%	4.37%	24.18%	-10.21%	7.87%	-27.14%	9.45%

Correlation

The correlation between BTI and MO is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Apr 15, 1980	0.31

Over the past year, BTI and MO have become more correlated (0.52) than their long-term average of 0.31, meaning their price movements have been converging.

Fundamentals

Market Cap BTI : $132.59B MO : $115.84B
EPS BTI : $4.93 MO : $4.79
PE Ratio BTI : 12.27 MO : 14.44
PEG Ratio BTI : 0.46 MO : 0.31
PS Ratio BTI : 2.58 MO : 5.33
Total Revenue (TTM) BTI : $51.48B MO : $21.82B
Gross Profit (TTM) BTI : $42.82B MO : $14.80B
EBITDA (TTM) BTI : $20.34B MO : $11.70B

Return for Risk

BTI vs. MO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTI

BTI Risk / Return Rank: 82
BTI Sharpe Ratio Rank: 85
BTI Sortino Ratio Rank: 82
BTI Omega Ratio Rank: 79
BTI Calmar Ratio Rank: 82
BTI Martin Ratio Rank: 81

MO

MO Risk / Return Rank: 67
MO Sharpe Ratio Rank: 71
MO Sortino Ratio Rank: 64
MO Omega Ratio Rank: 65
MO Calmar Ratio Rank: 66
MO Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTI vs. MO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for British American Tobacco p.l.c. (BTI) and Altria Group, Inc. (MO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BTI	MO	Difference
Sharpe ratio Return per unit of total volatility	1.83	1.00	+0.83
Sortino ratio Return per unit of downside risk	2.52	1.45	+1.06
Omega ratio Gain probability vs. loss probability	1.30	1.20	+0.10
Calmar ratio Return relative to maximum drawdown	3.03	1.36	+1.68
Martin ratio Return relative to average drawdown	7.16	3.44	+3.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTI vs. MO - Sharpe Ratio Comparison

The current BTI Sharpe Ratio is 1.83, which is higher than the MO Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of BTI and MO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BTI	MO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	1.00	+0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.75	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.33	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.69	-0.11

Drawdowns

BTI vs. MO - Drawdown Comparison

The maximum BTI drawdown since its inception was -64.11%, roughly equal to the maximum MO drawdown of -65.43%. Use the drawdown chart below to compare losses from any high point for BTI and MO.

Drawdown Indicators

	BTI	MO	Difference
Max Drawdown Largest peak-to-trough decline	-64.11%	-65.43%	+1.32%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-16.40%	+2.65%
Max Drawdown (3Y) Largest decline over 3 years	-13.75%	-16.40%	+2.65%
Max Drawdown (5Y) Largest decline over 5 years	-29.94%	-25.83%	-4.11%
Max Drawdown (10Y) Largest decline over 10 years	-56.00%	-53.69%	-2.31%
Current Drawdown Current decline from peak	-9.36%	-7.12%	-2.24%
Average Drawdown Average peak-to-trough decline	-12.94%	-11.93%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.83%	6.47%	-0.64%

Volatility

BTI vs. MO - Volatility Comparison

British American Tobacco p.l.c. (BTI) has a higher volatility of 9.38% compared to Altria Group, Inc. (MO) at 7.29%. This indicates that BTI's price experiences larger fluctuations and is considered to be riskier than MO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTI	MO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.38%	7.29%	+2.09%
Volatility (6M) Calculated over the trailing 6-month period	17.97%	17.12%	+0.85%
Volatility (1Y) Calculated over the trailing 1-year period	22.59%	22.38%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.07%	20.62%	+0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.18%	22.94%	+1.24%

Dividends

BTI vs. MO - Dividend Comparison

BTI's dividend yield for the trailing twelve months is around 5.10%, less than MO's 6.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTI British American Tobacco p.l.c.	5.10%	5.29%	8.18%	9.72%	7.23%	7.98%	7.22%	6.35%	8.53%	4.27%	3.85%	4.11%
MO Altria Group, Inc.	6.07%	7.21%	7.65%	9.52%	8.05%	7.43%	8.29%	6.57%	6.07%	3.56%	3.48%	3.73%

Financials

BTI vs. MO - Profitability Comparison

The chart below illustrates the profitability comparison between British American Tobacco p.l.c. and Altria Group, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BTI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, British American Tobacco p.l.c. reported a gross profit of 11.30B and revenue of 13.54B. Therefore, the gross margin over that period was 83.4%.

MO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Altria Group, Inc. reported a gross profit of 3.51B and revenue of 5.43B. Therefore, the gross margin over that period was 64.6%.

BTI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, British American Tobacco p.l.c. reported an operating income of 4.93B and revenue of 13.54B, resulting in an operating margin of 36.4%.

MO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Altria Group, Inc. reported an operating income of 2.96B and revenue of 5.43B, resulting in an operating margin of 54.5%.

BTI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, British American Tobacco p.l.c. reported a net income of 3.25B and revenue of 13.54B, resulting in a net margin of 24.0%.

MO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Altria Group, Inc. reported a net income of 2.18B and revenue of 5.43B, resulting in a net margin of 40.2%.

Frequently Asked Questions

Can I hold both BTI and MO in my portfolio?

BTI and MO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTI or MO?

BTI has higher volatility (9.38%) compared to MO (7.29%). In terms of maximum drawdown, BTI dropped -64.11% vs MO's -65.43%.

Which has better risk-adjusted returns?

BTI currently has the higher Sharpe Ratio (1.83 vs 1.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.