Methodology
Six largest publicly traded tobacco companies (i.e. close to 95% of the total market capitalization of all publicly traded tobacco & nicotine companies). Total Shareholder Return (TSR) expressed as a percentage, including price appreciation and dividends paid in a given period. In US$ terms: US ADR for BAT (ticker: BTI), currency converted for Imperial Brands, Japan Tobacco and ITC.
TSR = [(Last Price − Initial Price) + Dividends] / Initial Price
Major Tobacco Companies: TSR Q1 2025
| (US$) | Last Price | Initial price | ΔPrice | Dividend | Return | TSR |
| PMI | 158.73 | 120.35 | 38.38 | 1.35 | 39.7 | 33.0% |
| Imperial | 37.02 | 31.94 | 5.08 | 0.70 | 5.78 | 18.1% |
| Altria | 60.02 | 52.29 | 7.73 | 1.02 | 8.75 | 16.7% |
| BAT | 41.37 | 36.32 | 5.05 | 0.74 | 5.79 | 15.9% |
| Japan Tobacco | 27.43 | 25.94 | 1.49 | — | 1.49 | 5.4% |
| ITC | 4.80 | 5.37 | -0.57 | 0.08 | -0.50 | -9.3% |
| SP500 | 5,612 | 5,882 | -270 | 18 | -252 | -4.3% |
| XLP | 81.67 | 78.61 | 3.06 | 0.53 | 3.59 | 4.6% |
Returns in Local Currencies
| LC | Last Price | Initial price | ΔPrice | Dividend | Return | TSR |
| Imperial (£) | 28.65 | 25.53 | 3.12 | 0.54 | 3.66 | 14.3% |
| BAT (£) | 31.82 | 28.80 | 3.02 | .60 | 3.62 | 12.6% |
| JT (¥) | 4,114 | 4,080 | 34 | — | 34 | 0.8% |
| ITC* (₹) | 409.75 | 460.2 | -50.45 | 6.5 | -43.95 | –9.6% |
Currency Fluctuations
| Last Price | Initial price | ΔPrice | %Price | Average Price | |
| £/$ | 1.292 | 1.251 | 0.041 | +3.3% | 1.259 |
| $/¥ | 150.0 | 157.3 | -7.3 | -4.6% | 152.8 |
| $/₹ | 85.42 | 85.64 | -0.22 | -0.3% | 86.60 |
