Imperial Brands: I'm Buying This Tobacco Income Machine While It's Cheap

Imperial Brands offers a compelling value at 8.6x forward P/E with a 5.6% yield, trading below historical norms. IMBBY’s pricing power and growth in next-generation products drive high single-digit EPS growth guidance, despite industry volume declines. Disciplined capital allocation, a BBB credit rating, and an 11% share count reduction over three years enhance shareholder returns.

It’s been a while since I last covered Imperial Brands PLC ( IMBBY ) back in July 2021, highlighting the early innings of its rebound and focus on key growth areas. IMBBY has proven to be an