BTI vs. HSY: British American Tobacco vs. Hershey Stock Comparison

November 11, 2026

How do British American Tobacco (BTI) and Hershey (HSY) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

British American Tobacco (BTI) and Hershey (HSY) both fall under the Food, Beverage & Tobacco industry group, but BTI is classified in Tobacco while HSY is classified in Food Products.

Hershey (HSY) trades as ordinary local shares, while British American Tobacco (BTI) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for British American Tobacco (BTI) and Hershey (HSY)
Profile Item	BTI	HSY
Name	British American Tobacco plc ADR	The Hershey Company Common Stock
Country/Region	United Kingdom	United States
GICS Sector	Consumer Staples	Consumer Staples
GICS Industry Group	Food, Beverage & Tobacco	Food, Beverage & Tobacco
GICS Industry	Tobacco	Food Products
GICS Sub-Industry	Tobacco	Packaged Foods & Meats
Market Capitalization	130.83 billion USD	35.79 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	April 14, 1980	March 17, 1980
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

BTI

HSY

GSPC

British American Tobacco (BTI) vs. Hershey (HSY), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for British American Tobacco (BTI) and Hershey (HSY). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for British American Tobacco (BTI) and Hershey (HSY). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for British American Tobacco (BTI) and Hershey (HSY)
Metric	BTI	HSY
Total Return (1Y)	16.59%	3.76%
Total Return (3Y, Annualized)	34.31%	-0.13%
Total Return (5Y, Annualized)	20.24%	2.04%

Risk Profile

Drawdown History

BTI

HSY

GSPC

British American Tobacco (BTI) vs. Hershey (HSY), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for British American Tobacco (BTI) and Hershey (HSY). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for British American Tobacco (BTI) and Hershey (HSY)
Metric	BTI	HSY
Volatility (1Y, Annualized)	26.28%	27.95%
Beta (5Y)	0.29	0.07
Max Drawdown (5Y)	-29.84%	-45.25%
Avg. Volume (3M)	5.01M	1.48M

Risk-Adjusted Performance

Risk-Return Positioning

BTI and HSY are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for British American Tobacco (BTI) and Hershey (HSY)
Metric	BTI	HSY
Sharpe Ratio (1Y)	0.47	-0.02
Sortino Ratio (1Y)	0.71	-0.03

Profitability

ROE (TTM)

Hershey (HSY) at 38.00% clears its industry range for ROE, a sharper capital-efficiency signal than British American Tobacco (BTI) at 13.42%, which is closer to a typical peer reading.

BTI

Food, Beverage & Tobacco industry group

13.42%

Max: 32.02%
Q3: 16.61%
BTI: 13.42%
Median: 10.05%
Q1: 4.10%
Min: -10.50%

HSY

Food, Beverage & Tobacco industry group

38.00%

HSY: 38.00%
Max: 32.02%
Q3: 16.61%
Median: 10.05%
Q1: 4.10%
Min: -10.50%

British American Tobacco (BTI) vs. Hershey (HSY): A comparison of their ROE against the Food, Beverage & Tobacco industry group benchmark.

Net Margin (TTM)

British American Tobacco (BTI) at 24.99% keeps the most of each sales dollar — above its industry’s net margin range — and Hershey (HSY) at 14.63% also retains a top-quartile share.

BTI

Food, Beverage & Tobacco industry group

24.99%

BTI: 24.99%
Max: 24.83%
Q3: 11.22%
Median: 5.94%
Q1: 2.05%
Min: -11.49%

HSY

Food, Beverage & Tobacco industry group

14.63%

Max: 24.83%
HSY: 14.63%
Q3: 11.22%
Median: 5.94%
Q1: 2.05%
Min: -11.49%

British American Tobacco (BTI) vs. Hershey (HSY): A comparison of their net margin against the Food, Beverage & Tobacco industry group benchmark.

Operating Margin (TTM)

Both British American Tobacco (BTI) at 34.91% and Hershey (HSY) at 25.55% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

BTI

Food, Beverage & Tobacco industry group

34.91%

BTI: 34.91%
Max: 34.91%
Q3: 17.57%
Median: 11.06%
Q1: 4.15%
Min: -15.06%

HSY

Food, Beverage & Tobacco industry group

25.55%

Max: 34.91%
HSY: 25.55%
Q3: 17.57%
Median: 11.06%
Q1: 4.15%
Min: -15.06%

British American Tobacco (BTI) vs. Hershey (HSY): A comparison of their operating margin against the Food, Beverage & Tobacco industry group benchmark.

Profitability Metrics

Profitability metrics for British American Tobacco (BTI) and Hershey (HSY)
Metric	BTI	HSY
ROE (TTM)	13.42%	38.00%
ROA (TTM)	5.12%	11.82%
Net Margin (TTM)	24.99%	14.63%
Operating Margin (TTM)	34.91%	25.55%
Gross Margin (TTM)	82.72%	41.95%

Growth

Revenue Growth

Both British American Tobacco (BTI) at -0.99% and Hershey (HSY) at 4.38% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

British American Tobacco (BTI) vs. Hershey (HSY): A comparison of their Revenue Growth across different time periods.

EPS Growth

British American Tobacco (BTI) at 156.69% delivers above-range EPS growth, while Hershey (HSY) at -60.26% falls into the bottom quartile — a wide split in earnings momentum.

British American Tobacco (BTI) vs. Hershey (HSY): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for British American Tobacco (BTI) and Hershey (HSY)
Metric	BTI	HSY
Revenue Growth (YoY)	-0.99%	4.38%
Revenue Growth (3Y CAGR)	-2.53%	3.92%
EPS Growth (YoY)	156.69%	-60.26%
EPS Growth (3Y CAGR)	6.15%	-18.31%

Financial Strength

Current Ratio (MRQ)

Hershey (HSY) at 1.24 keeps current ratio within its industry’s typical mid-range, while British American Tobacco (BTI) at 0.84 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for BTI.

BTI

Food, Beverage & Tobacco industry group

0.84

Max: 4.01
Q3: 2.35
Median: 1.53
Q1: 1.02
BTI: 0.84
Min: 0.33

HSY

Food, Beverage & Tobacco industry group

1.24

Max: 4.01
Q3: 2.35
Median: 1.53
HSY: 1.24
Q1: 1.02
Min: 0.33

British American Tobacco (BTI) vs. Hershey (HSY): A comparison of their current ratio against the Food, Beverage & Tobacco industry group benchmark.

Debt / Equity (MRQ)

Both British American Tobacco (BTI) at 0.72 and Hershey (HSY) at 1.11 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

BTI

Food, Beverage & Tobacco industry group

0.72

Max: 2.19
Q3: 1.11
BTI: 0.72
Median: 0.68
Q1: 0.33
Min: 0.00

HSY

Food, Beverage & Tobacco industry group

1.11

Max: 2.19
HSY: 1.11
Q3: 1.11
Median: 0.68
Q1: 0.33
Min: 0.00

British American Tobacco (BTI) vs. Hershey (HSY): A comparison of their debt-to-equity ratio against the Food, Beverage & Tobacco industry group benchmark.

Financial Strength Metrics

Financial strength metrics for British American Tobacco (BTI) and Hershey (HSY)
Metric	BTI	HSY
Current Ratio (MRQ)	0.84	1.24
Debt / Equity (MRQ)	0.72	1.11
Net Debt / EBITDA	2.90	1.52

Dividends

Dividend Yield (TTM)

British American Tobacco (BTI) at 3.88% delivers top-quartile income for its industry, while Hershey (HSY) at 3.23% pays a more typical yield — both are credible income propositions, BTI the richer one.

BTI

Food, Beverage & Tobacco industry group

3.88%

Max: 9.38%
BTI: 3.88%
Q3: 3.77%
Median: 1.76%
Q1: 0.00%
Min: 0.00%

HSY

Food, Beverage & Tobacco industry group

3.23%

Max: 9.38%
Q3: 3.77%
HSY: 3.23%
Median: 1.76%
Q1: 0.00%
Min: 0.00%

British American Tobacco (BTI) vs. Hershey (HSY): A comparison of their dividend yield against the Food, Beverage & Tobacco industry group benchmark.

Dividend Payout Ratio (TTM)

Hershey (HSY) at 64.77% pays out a band-typical share of earnings, while British American Tobacco (BTI) at 83.97% distributes more than its industry norm — less retained, thinner cover.

BTI

Food, Beverage & Tobacco industry group

83.97%

Max: 199.19%
BTI: 83.97%
Q3: 81.03%
Median: 41.52%
Q1: 0.00%
Min: 0.00%

HSY

Food, Beverage & Tobacco industry group

64.77%

Max: 199.19%
Q3: 81.03%
HSY: 64.77%
Median: 41.52%
Q1: 0.00%
Min: 0.00%

British American Tobacco (BTI) vs. Hershey (HSY): A comparison of their payout ratio against the Food, Beverage & Tobacco industry group benchmark.

Dividend Metrics

Dividend metrics for British American Tobacco (BTI) and Hershey (HSY)
Metric	BTI	HSY
Dividend Yield (TTM)	3.88%	3.23%
Dividend Payout Ratio (TTM)	83.97%	64.77%

Valuation

P/E Ratio (TTM)

Both British American Tobacco (BTI) at 15.61 and Hershey (HSY) at 20.14 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

BTI

Food, Beverage & Tobacco industry group

15.61

Max: 52.52
Q3: 30.78
Median: 18.76
BTI: 15.61
Q1: 12.77
Min: 4.72

HSY

Food, Beverage & Tobacco industry group

20.14

Max: 52.52
Q3: 30.78
HSY: 20.14
Median: 18.76
Q1: 12.77
Min: 4.72

British American Tobacco (BTI) vs. Hershey (HSY): A comparison of their P/E ratio against the Food, Beverage & Tobacco industry group benchmark.

P/S Ratio (TTM)

Both look expensive on sales: Hershey (HSY) at 2.92 sits in the upper P/S ratio quartile, and British American Tobacco (BTI) at 5.08 prices even higher, above its industry range.

BTI

Food, Beverage & Tobacco industry group

5.08

BTI: 5.08
Max: 4.64
Q3: 2.27
Median: 1.17
Q1: 0.52
Min: 0.00

HSY

Food, Beverage & Tobacco industry group

2.92

Max: 4.64
HSY: 2.92
Q3: 2.27
Median: 1.17
Q1: 0.52
Min: 0.00

British American Tobacco (BTI) vs. Hershey (HSY): A comparison of their P/S ratio against the Food, Beverage & Tobacco industry group benchmark.

P/B Ratio (MRQ)

Measured against book value, both British American Tobacco (BTI) at 10.59 and Hershey (HSY) at 7.34 look expensive — each P/B ratio sits above its industry’s benchmark range.

BTI

Food, Beverage & Tobacco industry group

10.59

BTI: 10.59
Max: 6.35
Q3: 3.07
Median: 1.58
Q1: 0.82
Min: 0.00

HSY

Food, Beverage & Tobacco industry group

7.34

HSY: 7.34
Max: 6.35
Q3: 3.07
Median: 1.58
Q1: 0.82
Min: 0.00

British American Tobacco (BTI) vs. Hershey (HSY): A comparison of their P/B ratio against the Food, Beverage & Tobacco industry group benchmark.

Valuation Metrics

Valuation metrics for British American Tobacco (BTI) and Hershey (HSY)
Metric	BTI	HSY
P/E Ratio (TTM)	15.61	20.14
P/S Ratio (TTM)	5.08	2.92
P/B Ratio (MRQ)	10.59	7.34
Free Cash Flow Yield (TTM)	2.69%	4.67%