Turning Point Brands, Inc. TPB

Consumer staples SIC 2100 - Tobacco Products NAICS Manufacturing › Beverage and Tobacco Product Manufacturing › Tobacco Manufacturing derived NYSE

Turning Point Brands, Inc. (the "Company," "we," "our," or "us") is a leading manufacturer, marketer and distributor of branded consumer products. We sell a wide range of products to adult consumers consisting of staple products with our iconic brands Zig-Zag® and Stoker's®. We primarily compete in the alternative smoking accessories and Other Tobacco Products ("OTP") industries, among other markets. The alternative smoking accessories market is a dynamic market experiencing robust secular growth driven by cannabinoid legalization in the U.S. and Canada, and positively evolving consumer perception and acceptance in North America. The OTP industry, which consists of non-cigarette tobacco products, exhibited steady consumer unit annualized volumes during the full year period ended 2025 as reported by Management Science Associates, Inc. ("MSAi") a third-party analytics and information company. Our segments are led by our core proprietary and iconic brands: Zig-Zag® in the Zig-Zag products segment, and Stoker's® along with FRE®, Beech-Nut® and Trophy® in the Stoker's products segment. Our businesses generate meaningful cash flow which we use to further invest in our business, introduce new product lines, finance acquisitions, increase brand support, expand our distribution infrastructure, and strengthen our capital position. We currently ship to approximately 900 distributors with an additional 600 secondary, indirect wholesalers in the U.S. that carry and sell our products. Under the leadership of a senior management team with extensive experience in the consumer products, alternative smoking accessories and tobacco industries, we have grown and diversified our business through new product launches, category expansions, and acquisitions while concurrently improving operational efficiency.

Last close 63.99 2026-10-23
Market cap $1.28B 2026-06-30 share count
52-week range 54.17 - 146.90

Valuation FY2025 figures against the last close

P/S2.8x
P/E20.6x
P/FCF29.3x
EV/EBITDA14.2x
Dividend yield0.4%
Diluted EPS3.11

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Non-US
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 427.4M (92.3%) 92% United States Non-US, FY2025: 35.7M (7.7%) 8% Non-US FY2024 United States, FY2024: 330.7M (91.7%) 92% Non-US, FY2024: 30M (8.3%) 8% FY2023 United States, FY2023: 294.3M (90.5%) 91% Non-US, FY2023: 30.8M (9.5%) 9%
Region FY2025FY2024FY2023
United States $427.4M $330.7M $294.3M
Non-US $35.7M $30.0M $30.8M

As the company reported it, from the “Note 21 - Segment Information - Disaggregation of Revenue by Geographic Area (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $463.1M$360.7M$325.1M$321.2M$445.5M$405.1M$362.0M$332.7M$285.8M$206.2M
Cost of revenue $198.7M$159.1M$142.1M$143.4M$227.6M$215.1M$224.9M$190.1M$160.8M$105.7M
Gross profit $264.3M$201.6M$182.9M$177.8M$217.8M$190.0M$137.1M$142.6M$125.0M$100.5M
R&D $900.0K$1.3M$600.0K$600.0K$1.1M$1.3M$2.5M$2.5M$2.3M$2.0M
SG&A $169.0M$122.4M$104.3M$103.8M$127.5M$125.6M$109.9M$94.1M$75.3M$56.6M
Operating income $95.3M$80.8M$83.0M$74.0M$90.3M$64.4M$27.2M$48.5M$49.7M$43.9M
Interest expense $25.4M$18.5M$21.0M$21.9M———$15.1M$16.9M$26.7M
Pre-tax income $83.1M$65.0M$62.1M$42.1M$65.3M$50.1M$19.1M$31.6M$26.9M$14.9M
Income tax $15.0M$16.9M$24.0M$11.0M$14.0M$12.0M$2.9M$6.3M$7.3M$12.0M
Net income $58.2M$39.8M$38.5M$11.6M$52.1M$38.2M$16.2M$25.3M$20.2M$26.9M
EPS, basic 3.182.242.190.652.751.970.831.311.061.63
EPS, diluted 3.112.142.010.642.521.850.781.281.041.49
Shares, diluted (wtd. avg.) 18.7M19.4M20.5M18.1M22.4M22.9M23.2M19.8M19.5M18.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $222.8M$48.9M$117.9M$106.4M$128.3M$41.8M$95.2M$3.3M$2.6M$2.9M
Receivables $25.7M$9.6M$10.0M$8.4M$6.5M$9.3M$6.9M$2.6M$3.2M$2.2M
Inventory $108.0M$96.3M$91.7M$119.9M$87.6M$85.9M$71.0M$91.2M$63.3M$62.2M
Total current assets $417.1M$198.2M$267.6M$257.7M$249.2M$163.4M$189.2M$111.9M$79.5M$78.9M
Property, plant and equipment $36.2M$26.3M$25.1M$22.8M$18.6M$15.5M$13.8M$10.6M$8.9M$7.6M
Goodwill $136.1M$135.9M$136.2M$136.3M$162.3M$159.6M$154.3M$145.9M$134.6M$134.4M
Other intangibles $64.0M$65.3M$66.5M$83.6M$87.5M$79.4M$33.5M$35.3M$26.4M$27.1M
Total assets $763.8M$493.4M$569.4M$572.1M$601.6M$496.0M$446.6M$339.4M$282.3M$285.0M
Accounts payable $20.4M$11.7M$7.8M$8.4M$7.4M$9.2M$14.1M$6.8M$3.7M$9.2M
Short-term debt —$0$58.3M$0———$8.0M$7.8M$1.6M
Total current liabilities $75.0M$44.8M$100.3M$41.4M$40.3M$56.6M$55.9M$63.8M$38.2M$41.6M
Long-term debt $293.6M$248.6M$307.1M$406.8M$414.2M$302.1M$269.0M$186.7M$186.2M$201.5M
Total liabilities $391.8M$303.0M$417.4M$458.7M$467.8M$378.6M$340.0M$256.8M$229.0M$251.0M
Retained earnings $199.7M$147.2M$112.4M$78.7M$71.5M$23.6M-$15.3M-$25.5M-$47.5M-$67.0M
Total equity $372.0M$190.4M$152.0M$113.4M$133.7M$117.5M$88.1M$86.6M$53.3M$34.1M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $57.4M$67.1M$66.9M$30.3M$68.2M$43.7M$37.8M$13.1M$29.7M$9.1M
Depreciation and amortisation ——$6.4M$5.3M$5.0M$5.0M$4.1M$3.1M$2.3M$1.3M
Stock-based compensation $7.0M$7.2M$6.6M$5.3M$7.6M$2.6M$3.6M$1.4M$720.0K$180.0K
Capital expenditure $13.5M$4.6M$5.7M$7.8M$6.2M$6.1M$4.8M$2.3M$2.0M$3.2M
Investing cash flow -$31.7M-$10.5M-$5.9M-$18.8M-$58.8M-$64.8M$15.9M-$24.7M-$1.1M-$55.9M
Financing cash flow $148.3M-$128.3M-$49.5M-$43.3M$57.1M-$29.3M$68.0M$9.9M-$28.0M$15.7M
Dividends paid $5.5M$4.9M$4.5M$4.2M$4.1M$3.8M$3.5M$2.3M$768.0K$0
Buybacks $0$5.1M$0$29.2M$38.7M$10.2M$0$0—$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-006405.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 200M 400M 600M Revenue, FY2016: 206.2M Gross profit, FY2016: 100.5M Net income, FY2016: 26.9M Revenue, FY2017: 285.8M Gross profit, FY2017: 125M Net income, FY2017: 20.2M Revenue, FY2018: 332.7M Gross profit, FY2018: 142.6M Net income, FY2018: 25.3M Revenue, FY2019: 362M Gross profit, FY2019: 137.1M Net income, FY2019: 16.2M Revenue, FY2020: 405.1M Gross profit, FY2020: 190M Net income, FY2020: 38.2M Revenue, FY2021: 445.5M Gross profit, FY2021: 217.8M Net income, FY2021: 52.1M Revenue, FY2022: 321.2M Gross profit, FY2022: 177.8M Net income, FY2022: 11.6M Revenue, FY2023: 325.1M Gross profit, FY2023: 182.9M Net income, FY2023: 38.5M Revenue, FY2024: 360.7M Gross profit, FY2024: 201.6M Net income, FY2024: 39.8M Revenue, FY2025: 463.1M Gross profit, FY2025: 264.3M Net income, FY2025: 58.2M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $206.2M $285.8M $332.7M $362.0M $405.1M $445.5M $321.2M $325.1M $360.7M $463.1M
Gross profit $100.5M $125.0M $142.6M $137.1M $190.0M $217.8M $177.8M $182.9M $201.6M $264.3M
Net income $26.9M $20.2M $25.3M $16.2M $38.2M $52.1M $11.6M $38.5M $39.8M $58.2M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.