Fundamentální analýza akcie British American Tobacco p.l.c

This bachelor’s thesis focuses on fundamental analysis of the British American Tobacco plc stock. The aim of the thesis is to determine the intrinsic value of the company’s stock using selected valuation models and based on a comparison with the current market price, to formulate a recommendation on whether to buy, hold, or sell the given stock. The thesis follow a three-step top-down approach, starting with an evaluation of key macroeconomic influences, moving through an analysis of the regulated tobacco industry, and concluding at the company level, where the necessary input parameters are defined. The valuation is conducted using a combination of dividend discount, earnings, cash flow and combined models. Based on these models, the stock is identified as undervalued, and therefore a recommendation to buy is formulated.