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Turning Point Brands, Inc.

TPB Consumer Defensive Tobacco

Turning Point Brands, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $463.1 million, up 28.4% from fiscal 2024. In the quarter to June 2026, revenue grew 22.6%, EPS fell 77.8%, free cash flow grew 235.1% and total debt was flat, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for three.

62.69 2.38 +3.95%
Market cap
$1.2B
P/E
26.3×
Fwd P/E
60.5×
Dividend yield
0.50%
F-score
7/9
Altman Z
4.96
Beneish M
−1.21
Dividend safety
78/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 10.62
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 4 2 — — 1 — 1 — — — — —
Insider Ownership 5.59%

Capital & Financial Ratios $m

Market Cap 1,210.00
Revenue 507.23
Net Income 59.64
Free Cash Flow 19.63
Net Debt 25.84
Current Ratio 5.67 (at or above 1.5: strong)
Debt/Equity 0.65
P/E ratio 26.34
Fwd P/E 60.50 (above 35: high)
P/S ratio 2.46
P/B ratio 2.75
Past 5Y EPS Growth 13.24%
This Y EPS Growth (59.68%) (below 0%: weak)
Next Y EPS Growth 54.51% (at or above 15%: strong)
Next Y revenue growth 22.45% (at or above 10%: strong)
Next 5Y EPS Growth 3.72%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.7×, against a ten-year median of 2.3×; over the ten years it ranged from 1.7× in 2020 to 5.8× in 2026.
P/E against its own 10 years 56.67%
10-year low 10-year high
P/S against its own 10 years 75.34%
10-year low 10-year high
P/B against its own 10 years 2.63%
10-year low 10-year high
EV/Sales against its own 10 years 66.04%
10-year low 10-year high
EV/FCF against its own 10 years 84.60%
10-year low 10-year high

Dividends

Payout Ratio 0.14
Annual Dividend Rate 0.32
Annual Dividend Yield 0.50%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.32
0.08
0.08
0.08
2025 0.30
0.08
0.08
0.08
0.08
2024 0.28
0.07
0.07
0.07
0.07
2023 0.26
0.07
0.07
0.07
0.07
2022 0.24
0.06
0.06
0.06
0.06
2021 0.22
0.06
0.06
0.06
0.06
2020 0.20
0.05
0.05
0.05
0.05
2019 0.18
0.05
0.05
0.05
0.05
2018 0.17
0.04
0.04
0.04
0.05
2017 0.04
0.04
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 117 46 223 268
Receivables 10 10 26 23
Inventory 92 96 108 133
Other 49 46 61 76
268 198 417 500
2023 2024 2025 Q'26
Payables 8 12 20 35
ST’ Debt 58 — — —
Other 2 2 — —
100 45 75 88

Compound Annual Growth %

10y 5y 3y
Sales 8.91% 2.71% 12.96%
Cash Flow 8.91% 5.61% 23.75%
Earnings 20.32% 8.78% 70.96%
Book Value 0.00% 25.92% 48.59%

Revenue $m

Mar Jun Sep Dec Year
’26 124 143 — — —
’25 106 117 119 121 463
’24 83 93 91 94 361
’23 101 106 102 17 325
’22 101 103 108 10 321
’21 108 123 110 105 445
’20 91 105 104 105 405
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (22) 26 — — —
’25 17 12 3 25 57
’24 23 13 13 18 67
’23 15 12 12 27 67
’22 13 (6) 9 14 30
’21 24 13 12 19 68
’20 15 3 16 10 44
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (27) 26 — — —
’25 15 8 (1) 22 44
’24 22 11 13 17 62
’23 13 12 11 25 61
’22 10 (9) 8 13 22
’21 23 12 10 17 62
’20 14 2 14 8 38
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.60 0.18 — — —
’25 0.79 0.79 1.13 0.42 3.11
’24 0.63 0.68 0.68 0.13 2.14
’23 0.41 0.53 0.58 0.53 2.01
’22 0.55 0.30 0.60 (0.93) 0.64
’21 0.57 0.73 0.65 0.57 2.52
’20 0.22 0.47 0.40 0.65 1.67
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 6.46 12.03 19.11 20.10 14.09 35.06 18.81 19.67 21.98 51.48

Analyst estimates 2026–2028

Powerpack
High 16.14 21.48 47.00 57.06 47.95 61.08 38.63 26.56 66.18 113.31
People
People Employees 286 289 520 466 408 426 413 373 310 484
Revenue/emp, $m 0.72 0.99 0.64 0.78 0.99 1.05 0.78 0.87 1.16 0.96
Income, $m
Income, $m Revenue 206 286 333 362 405 445 321 325 361 463
Gross margin, % 48.75 43.73 42.85 37.88 46.90 48.90 55.36 56.28 55.89 57.08
EBT 15 27 32 19 50 65 42 62 65 83
EBT margin, % 7.23 9.42 9.49 5.28 12.38 14.66 13.10 19.09 18.01 17.96
Net income 27 20 25 16 38 51 11 38 41 68
Depreciation 3 3 4 6 7 8 6 7 8 9
Per share, $
Per share, $ Revenue 12.52 15.05 17.19 18.44 20.88 23.55 17.95 18.49 20.34 25.28
Earnings 1.63 1.06 1.31 0.70 1.70 2.75 0.65 2.19 2.24 3.18
Cash flow 0.55 1.56 0.68 1.93 2.25 3.61 1.69 3.80 3.78 3.13
Capex (0.19) (0.11) (0.12) (0.24) (0.32) (0.32) (0.44) (0.32) (0.26) (0.74)
Free cash flow 0.36 1.46 0.56 1.69 1.94 3.28 1.26 3.48 3.52 2.39
Book value 2.07 2.81 4.27 5.43 6.06 7.07 6.33 8.65 10.74 20.31
Shares, m 16 19 19 20 19 19 18 18 18 18
Valuation, ×
Valuation, × P/E 7.46 19.62 20.94 40.28 25.05 13.74 34.94 11.96 26.59 33.77
P/S 1.00 1.38 1.58 1.55 2.13 1.60 1.21 1.41 2.96 4.29
P/B 6.03 7.41 6.38 5.27 7.36 5.35 3.42 3.01 5.60 5.34
EV/Sales 2.04 2.08 2.24 2.07 2.81 2.25 2.15 2.17 3.85 4.70
EV/FCF 71.03 21.48 68.77 22.66 30.28 16.16 30.75 11.55 22.21 49.60
Cash, $m
Cash, $m Operating cash flow 9 30 13 38 44 68 30 67 67 57
Capex (3) (2) (2) (5) (6) (6) (8) (6) (5) (14)
Free cash flow 6 28 11 33 38 62 22 61 62 44
Balance, $m
Balance, $m Working capital 37 41 48 133 107 209 216 167 153 342
Total debt 218 202 221 284 314 417 410 365 249 294
Net debt 215 199 217 189 272 289 303 249 202 71
Shareholders’ equity 34 53 83 107 117 134 113 152 190 372
Returns, %
Returns, % ROA 10.20 7.12 8.14 4.13 8.10 9.49 1.98 6.74 7.49 9.25
ROIC 11.01 12.28 10.10 5.76 10.33 13.36 11.10 12.94 12.86 13.45
ROE (113.19) 46.25 37.20 17.16 34.09 41.45 9.42 28.99 23.25 20.69
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Turning Point Brands, Inc. vs peers in Tobacco (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PM Philip Morris International Inc. $311.6B 29.5× 22.6× +10.37% (above 0%: growing) −7.69% (below 0%: shrinking) +67.28% (above 0%: growing) 68.43% 40.48% Compare
BTI British American Tobacco p.l.c. $124.7B 7.6× 12.9× +0.62% (above 0%: growing) +13.60% (above 0%: growing) +12.44% (above 0%: growing) 69.38% 0.00% Compare
MO Altria Group, Inc. $123.3B 15.8× 12.9× +0.15% (above 0%: growing) −2.84% (below 0%: shrinking) +282.66% (above 0%: growing) 62.51% 51.32% Compare
RLX RLX Technology Inc. Sponsored ADR $1.6B 16.0× 17.0× +21.90% (above 0%: growing) +30.00% (above 0%: growing) −129.25% (below 0%: shrinking) 39.03% 14.22% Compare
TPB Turning Point Brands, Inc. $1.2B 26.3× 60.5× +22.57% (above 0%: growing) −77.78% (below 0%: shrinking) +235.11% (above 0%: growing) 65.55% 11.69%
AIIR Air Global PLC $1.2B — (loss-making) — — n/m −487.91% (below 0%: shrinking) 56.58% (46.44%) Compare
UVV Universal Corporation $1.0B 53.4× 12.5× −11.79% (below 0%: shrinking) n/m +38.82% (above 0%: growing) 15.86% 0.44% Compare
ISPR Ispire Technology Inc. $83.2M — (loss-making) — (loss-making) +32.55% (above 0%: growing) n/m −26.12% (below 0%: shrinking) 6.32% (50.72%) Compare
RYM RYTHM, Inc. $40.1M — (loss-making) — (loss-making) +1,027.38% (above 0%: growing) n/m +202.80% (above 0%: growing) 80.52% 8.41% Compare
Median of peers $1.4B 16.0× 12.9× +10.37% +5.38% +25.63% 59.55% 4.43%

All 11 Tobacco stocks →

Turning Point Brands, Inc. (TPB) key facts

  • Strength: Turning Point Brands, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $463.1 million, up 28.4% from fiscal 2024.
  • Turning Point Brands, Inc. (TPB) is a Tobacco company in the Consumer Defensive sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, TPB traded at $62.69, a market capitalization of $1.2 billion.
  • Turning Point Brands, Inc. pays an annual dividend of $0.32 per share, a yield of 0.50%, with a payout ratio of 13.5%.
  • Return on equity was 20.7% and debt-to-equity 0.65.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 4.96 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Turning Point Brands, Inc. (TPB) Latest News

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stockrow.com/TPB · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com