Turning Point Brands, Inc. (TPB) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$0.73	$0.76	+4.1%	—	$124.3M	—
Q4 25	$0.88	$0.95	+8.0%	—	$121M	—
Q3 25	$0.81	$1.05	+29.6%	—	$119M	—
Q2 25	$0.8	$0.98	+22.5%	—	$116.6M	—
Q1 25	$0.78	$0.91	+16.7%	—	$106.4M	—
Q4 24	$0.91	$0.98	+7.7%	—	$49.5M	—
Q3 24	$0.78	$0.87	+11.5%	—	$105.6M	—
Q2 24	$0.75	$0.89	+18.7%	—	$108.5M	—
Q1 24	$0.67	$0.8	+19.4%	—	$97.1M	—
Q4 23	$0.68	$0.79	+16.2%	—	$97.1M	—
Q3 23	$0.61	$0.76	+24.6%	—	$101.7M	—
Q2 23	$0.58	$0.79	+36.2%	—	$105.6M	—
Q1 23	$0.49	$0.62	+26.5%	—	$101M	—
Q4 22	$0.58	$0.69	+19.0%	—	$103.4M	—
Q3 22	$0.61	$0.72	+18.0%	—	$107.8M	—
Q2 22	$0.74	$0.7	-5.4%	—	$102.9M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.18	—	—	$463.1M	—
FY24	—	$2.24	—	—	$360.7M	—
FY23	—	$2.19	—	—	$405.4M	—
FY22	—	$0.65	—	—	$415M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$206.2M	$285.8M	$332.7M	$362M	$405.1M	$445.5M	$415M	$405.4M	$360.7M	$463.1M
YoY change	+4.55%	+38.6%	+16.4%	+8.81%	+11.9%	+9.96%	-6.84%	-2.32%	-11%	+28.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	206.2M	285.8M	332.7M	362M	405.1M	445.5M	415M	405.4M	360.7M	463.1M
Cost of revenue	105.7M	160.8M	190.1M	224.9M	215.1M	227.6M	209.5M	202.2M	159.1M	198.7M
Gross profit	100.5M	125M	142.6M	137.1M	190M	217.8M	205.5M	203.2M	201.6M	264.3M
Gross margin	48.8%	43.7%	42.9%	37.9%	46.9%	48.9%	49.5%	50.1%	55.9%	57.1%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	56.6M	75.3M	94.1M	109.9M	125.6M	127.5M	130M	125M	122.4M	169M
Operating expenses	56.6M	75.3M	94.1M	109.9M	125.6M	127.5M	130M	120.7M	120.7M	169M
Operating income	43.9M	49.7M	48.5M	27.2M	64.4M	90.3M	75.5M	82.6M	80.8M	95.3M
Operating margin	21.3%	17.4%	14.6%	7.52%	15.9%	20.3%	18.2%	20.4%	22.4%	20.6%
Non-operating income, net	-2.4M	-5.9M	-2.1M	6.3M	-791K	-4.5M	-40M	-6.3M	-1.9M	5.3M
Pretax income	14.9M	26.9M	31.6M	19.1M	50.1M	65.3M	16M	61.7M	65M	83.1M
Income tax	-12M	7.3M	6.3M	2.9M	12M	14M	4.8M	23.9M	16.9M	15M
Net income	26.9M	19.7M	25.3M	16.2M	38.2M	51.3M	11.2M	37.8M	40.5M	68.2M
Net margin	13.1%	6.88%	7.6%	4.48%	9.43%	11.5%	2.69%	9.32%	11.2%	14.7%
EBITDA	45M	51.8M	51.5M	36.3M	68.5M	95.3M	80.8M	92.9M	86.5M	116.1M
EPS	1.63	1.06	1.31	0.7	1.7	2.75	0.65	2.19	2.24	3.18
Diluted EPS	1.49	1.04	1.28	0.69	1.67	2.52	0.64	2.01	2.14	3.11

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	101.7M	97.1M	97.1M	108.5M	105.6M	49.5M	106.4M	116.6M	119M	121M	124.3M	143M
Cost of revenue	50.1M	46.6M	45.1M	54.7M	51.9M	7.4M	46.8M	50M	48.6M	53.4M	56M	49.3M
Gross profit	51.6M	50.5M	51.9M	53.8M	53.7M	42.1M	59.6M	66.6M	70.4M	67.7M	68.3M	93.7M
Gross margin	50.7%	52%	53.5%	49.6%	50.8%	85.1%	56%	57.1%	59.2%	55.9%	55%	65.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	31.4M	30.9M	32.6M	32.8M	33.2M	23.8M	36.4M	40.3M	44.5M	47.7M	55.8M	77M
Operating expenses	31.4M	30.9M	32.6M	31.1M	33.2M	23.8M	36.4M	40.3M	44.5M	47.7M	55.8M	77M
Operating income	20.2M	24M	19.3M	22.8M	20.5M	18.3M	23.2M	26.3M	25.9M	19.9M	12.5M	16.7M
Operating margin	19.9%	24.7%	19.8%	21%	19.4%	36.9%	21.8%	22.6%	21.8%	16.5%	10%	11.7%
Non-operating income, net	-1.6M	2.9M	119K	-2.4M	203K	224K	-944K	17K	7.9M	-1.7M	3.1M	1.5M
Pretax income	14.6M	24.2M	15.9M	17.3M	17M	14.8M	17.8M	21.2M	30.2M	13.9M	11.1M	14M
Income tax	3.8M	14.3M	3.7M	4.4M	4.6M	4.2M	2M	4.2M	6.5M	2.2M	-2.8M	3.7M
Net income	10.9M	9.9M	12.2M	12.9M	12.4M	3.1M	15.8M	17M	23.8M	11.6M	13.9M	10.3M
Net margin	10.7%	10.2%	12.5%	11.9%	11.7%	6.18%	14.8%	14.5%	20%	9.62%	11.2%	7.21%
EBITDA	21.9M	29.6M	21M	25.1M	23.9M	18.3M	26.1M	28.2M	38.3M	21.9M	20.2M	21.7M
EPS	0.62	0.57	0.68	0.74	0.7	0.14	0.81	0.81	1.16	0.43	0.61	0.18
Diluted EPS	0.58	0.53	0.63	0.68	0.68	0.13	0.81	0.79	1.13	0.42	0.6	0.18

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	201.8M	—	526.9M	561.3M	864.4M	714.7M	387.2M	462.7M	1.1B	2B	1.2B
Enterprise value	417.1M	—	744.3M	763.6M	1.2B	1B	701.2M	722.8M	1.3B	2.1B	1.3B
Shares outstanding	16.5M	19M	19.4M	19.6M	19.4M	18.9M	17.9M	17.6M	17.7M	18.3M	18.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	7.5	—	20.8	34.6	22.6	13.9	34.7	12.2	26.3	29.1	26.3
P/S	0.98	—	1.58	1.55	2.13	1.6	0.93	1.14	2.96	4.29	2.31
P/B	5.92	—	6.38	5.27	7.36	5.34	3.41	3.04	5.6	5.34	2.81
EV/EBITDA	9.27	—	14.5	21	16.9	10.7	8.68	7.78	14.8	17.8	17.4
EV/Sales	2.02	—	2.24	2.11	2.85	2.28	1.69	1.78	3.55	4.47	2.58
Earnings yield	13.3%	—	4.8%	2.89%	4.42%	7.17%	2.88%	8.17%	3.8%	3.43%	3.81%
FCF yield	2.93%	—	2.05%	5.88%	4.34%	8.68%	5.83%	13.2%	5.86%	2.21%	-0.7%
PEG	—	—	—	—	—	—	—	—	—	—	-0.34

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	48.8%	43.7%	42.9%	37.9%	46.9%	48.9%	49.5%	50.1%	55.9%	57.1%	65.5%
Operating margin	21.3%	17.4%	14.6%	7.52%	15.9%	20.3%	18.2%	20.4%	22.4%	20.6%	4.17%
Net margin	13.1%	6.88%	7.6%	4.48%	9.43%	11.5%	2.69%	9.32%	11.2%	14.7%	8.78%
ROE	79%	36.9%	30.6%	15.2%	32.5%	38.3%	9.84%	24.9%	21.3%	18.3%	17.6%
ROA	9.44%	6.96%	7.45%	3.63%	7.7%	8.52%	1.95%	6.64%	8.21%	8.92%	5.76%
ROIC	17.6%	14.3%	12.9%	7.5%	12%	16.3%	12.3%	12.3%	14.7%	17.1%	13%
Return on tangible assets	-70.8%	-49.3%	-109.1%	22.8%	212.6%	50.3%	8.55%	30.7%	53.2%	19.9%	13.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.9	2.08	1.75	3.39	2.89	6.18	6.23	2.67	4.42	5.56	5.67
Quick ratio	0.4	0.42	0.32	2.12	1.37	4.01	3.33	1.68	2.27	4.12	4.16
Debt / equity	6.41	3.79	2.67	2.79	2.84	3.22	3.71	2.49	1.37	0.83	0.68
Debt / assets	0.77	0.72	0.65	0.67	0.67	0.72	0.73	0.66	0.53	0.4	0.36
Net debt / EBITDA	4.79	3.85	4.22	5.57	4.26	3.17	3.89	2.8	2.49	0.74	0.42
Interest coverage	1.56	2.59	3.13	2.32	4.72	4.19	1.82	5.21	5.65	4.28	3.82
Effective tax rate	0%	27%	19.9%	15%	23.8%	21.5%	30.3%	38.7%	26.1%	18%	13.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	12.5	15	17.2	18.4	20.9	23.5	23.2	23.1	20.3	25.3	26.5
EPS (basic)	1.63	1.06	1.31	0.7	1.7	2.75	0.65	2.19	2.24	3.18	3.18
EPS (diluted)	1.49	1.04	1.28	0.69	1.67	2.52	0.64	2.01	2.14	3.11	2.3
Book value per share	2.07	2.81	4.27	5.43	6.06	7.07	6.33	8.65	10.7	20.3	21.5
FCF per share	0.36	1.46	0.56	1.68	1.94	3.28	1.26	3.48	3.52	2.39	0.97
Cash per share	0.17	0.14	0.17	4.85	2.15	6.78	5.94	6.71	2.6	12.2	13.4
Capex per share	0	0	0	0.01	0	0	0	0	0	0.74	0.62

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0%	0%	0%	0.03%	0%	0.01%	0.01%	0%	0%	2.92%	2.48%
Capex / operating cash flow	0%	0%	0%	0.29%	0.01%	0.08%	-0.57%	0.01%	0.01%	23.6%	39.1%
Payout ratio	0%	3.91%	9.17%	21.8%	9.95%	7.99%	38.1%	11.9%	12.1%	8.1%	13.5%
Dividend yield	0%	—	0.44%	0.63%	0.44%	0.57%	1.1%	0.97%	0.46%	0.28%	0.53%

Yield

0.53%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.08

ex-dividend Sep 18, 2026

Payout ratio

13%

of earnings

Dividend growth

8 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 18, 2026	$0.08
Jun 18, 2026	$0.08
Mar 20, 2026	$0.08
Dec 19, 2025	$0.075
Sep 19, 2025	$0.075
Jun 20, 2025	$0.075
Mar 21, 2025	$0.075
Dec 20, 2024	$0.07

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$101.7M	$97.1M	$97.1M	$108.5M	$105.6M	$49.5M	$106.4M	$116.6M	$119M	$121M	$124.3M	$143M
YoY change	-5.64%	-6.07%	-3.86%	+2.76%	+3.83%	-49.1%	+9.66%	+7.48%	+12.7%	+144.6%	+16.8%	+22.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	2.9M	2.6M	3.3M	95.3M	41.8M	128.3M	106.4M	117.9M	46.2M	222.8M
Receivables	2.2M	3.2M	2.6M	6.9M	9.3M	6.5M	8.4M	10M	9.6M	25.7M
Inventory	62.2M	63.3M	91.2M	71M	85.9M	87.6M	119.9M	99M	96.3M	108M
Total current assets	78.9M	79.5M	111.9M	189.3M	163.4M	249.2M	257.7M	267.6M	198.2M	417.1M
Property, plant & equipment	5.7M	6.8M	8.3M	23.3M	30.7M	30.6M	32.2M	32.8M	33.7M	46.9M
Goodwill & intangibles	323.1M	322.1M	362.6M	375.5M	478.1M	499.6M	441.5M	446.2M	417.2M	420.5M
Total assets	285M	282.3M	339.4M	446.6M	496M	601.6M	572.1M	569.4M	493.4M	763.8M
Accounts payable	9.2M	3.7M	6.8M	14.1M	9.2M	7.4M	8.4M	8.4M	11.7M	20.4M
Short-term debt	16.7M	15.8M	34M	17.5M	15.2M	3M	3.1M	61M	3.1M	4.6M
Total current liabilities	41.6M	38.2M	63.8M	55.9M	56.6M	40.3M	41.4M	100.3M	44.8M	75M
Long-term debt	201.5M	186.2M	186.7M	280M	318.2M	427.5M	417.4M	317M	258.2M	304.3M
Total liabilities	251M	229M	256.8M	340M	378.6M	467.8M	458.7M	417.4M	303M	391.8M
Shareholders' equity	34.1M	53.3M	82.6M	106.6M	117.5M	133.7M	113.4M	152M	190.4M	372M
Total debt	218.2M	202M	220.7M	297.5M	333.5M	430.5M	420.5M	378M	261.3M	309M
Net debt	215.4M	199.4M	217.4M	202.2M	291.7M	302.2M	314M	260.1M	215.1M	86.2M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	96.1M	117.9M	130.9M	142.2M	33.6M	46.2M	99.6M	109.9M	201.2M	222.8M	192.4M	268.3M
Receivables	10.5M	10M	8.2M	12.6M	10.6M	9.6M	14.9M	30.1M	27.8M	25.7M	27.5M	22.7M
Inventory	116.9M	99M	105.5M	102.3M	106.4M	96.3M	104.4M	105M	112.8M	108M	129.6M	133.4M
Total current assets	246.8M	267.6M	279M	289.7M	184.8M	198.2M	259M	285.2M	396.4M	417.1M	418.2M	500.1M
Property, plant & equipment	32.7M	32.8M	31.4M	32.5M	32.7M	33.7M	34.7M	37.8M	43M	46.9M	52.1M	51.5M
Goodwill & intangibles	436M	446.2M	445.3M	443.1M	442.8M	417.2M	418.1M	422.5M	421.4M	420.5M	419.1M	418.4M
Total assets	553.9M	569.4M	586.3M	591.6M	488M	493.4M	564.6M	595.8M	742.8M	763.8M	772.1M	855.2M
Accounts payable	11.2M	8.4M	18.9M	11.9M	13.4M	11.7M	27M	26.2M	24.6M	20.4M	35.9M	35.3M
Short-term debt	51.1M	61M	62M	121.1M	2.8M	3.1M	3.2M	3.2M	4M	4.6M	5.2M	5.6M
Total current liabilities	86.7M	100.3M	109.3M	160.8M	43.9M	44.8M	58.6M	67.5M	71.3M	75M	71.3M	88.2M
Long-term debt	327M	317M	315.9M	256.8M	257.3M	258.2M	301.6M	301.5M	303.2M	304.3M	304.9M	305.1M
Total liabilities	413.7M	417.4M	425.2M	417.6M	301.3M	303M	361.1M	371M	384.7M	391.8M	386.6M	401.2M
Shareholders' equity	140.2M	152M	161.2M	173.9M	186.8M	190.4M	203.4M	224.8M	358.2M	372M	385.5M	454M
Total debt	378.1M	378M	377.9M	377.9M	260.2M	261.3M	304.9M	304.7M	307.2M	309M	310.1M	310.7M
Net debt	282M	260.1M	247M	235.7M	226.6M	215.1M	205.2M	194.8M	106M	86.2M	117.7M	42.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	26.9M	19.7M	25.3M	16.2M	38.2M	51.3M	11.2M	37.8M	48M	68.2M
Depreciation & amortization	1.3M	2.3M	3.1M	4.1M	5M	5M	5.3M	6.4M	5.7M	7.4M
Stock-based compensation	180K	720K	1.4M	3.6M	2.6M	7.6M	5.3M	6.6M	7.2M	7M
Change in working capital	-5.7M	-5.1M	-22.4M	19.6M	-18.5M	1.8M	-28.5M	11M	-4.1M	-49.3M
Operating cash flow	15.8M	23.8M	10.9M	41.9M	34.6M	66.3M	-10.8M	55.9M	59.2M	57.4M
Capital expenditure	0	0	0	123K	3K	54K	62K	3K	5K	-13.5M
Investing cash flow	-52.7M	905K	-22.4M	20.7M	-58.7M	-52.7M	-11.1M	-199K	-5.9M	-31.7M
Dividends paid	0	-768K	-2.3M	-3.5M	-3.8M	-4.1M	-4.3M	-4.5M	-4.9M	-5.5M
Share repurchases	0	—	0	0	-10.2M	-38.7M	-29.2M	0	-6.3M	-2.6M
Financing cash flow	30.7M	-41.8M	27.7M	41.3M	-28.7M	57.1M	-43.7M	-48.7M	-129.8M	143.1M
Net change in cash	-6.2M	-17.1M	16.2M	104M	-52.8M	70.7M	-65.6M	7M	-76.6M	168.8M
Free cash flow	5.9M	27.7M	10.8M	33M	37.5M	62.1M	22.6M	61.2M	62.4M	43.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	10.9M	9.9M	12.2M	12.9M	12.3M	10.6M	15.8M	17M	23.8M	11.6M	13.9M	10.3M
Depreciation & amortization	1.6M	1.7M	1.7M	2.3M	3.4M	-68K	1.6M	1.9M	1.9M	2M	2.1M	2.4M
Stock-based compensation	1.8M	1.9M	2.1M	1.9M	1.8M	1.5M	1.7M	1.6M	1.9M	1.8M	2.9M	2.7M
Change in working capital	264K	13.7M	9M	-3.5M	1.1M	-3.5M	-5.2M	-19.4M	-27.8M	3M	-16.2M	-8.4M
Operating cash flow	15.2M	18.9M	25.8M	14.5M	18.9M	8.9M	15.6M	11.8M	3.3M	24.9M	-22.3M	26.3M
Capital expenditure	0	0	0	2K	1K	2K	—	-4M	-4M	-3.3M	-5.1M	-88K
Investing cash flow	-200K	-2K	-7.6M	2.5M	-434K	-338K	-3M	-3.4M	-19.8M	-3.3M	-5.1M	-6.5M
Dividends paid	-1.1M	-1.1M	-1.1M	-1.3M	-1.2M	-1.3M	-1.4M	-1.3M	-1.4M	-1.4M	-1.7M	-1.6M
Share repurchases	0	0	-2.1M	-972K	-1.1M	-2.1M	0	0	-2.6M	-1K	—	—
Financing cash flow	-15.6M	-1.1M	-3.2M	-2.2M	-120.9M	-3.4M	42M	-2M	104.5M	-1.4M	-1.7M	-1.6M
Net change in cash	-616K	17.7M	14.9M	14.8M	-102.4M	5.2M	54.6M	6.4M	88M	20.1M	-29M	18.2M
Free cash flow	11.3M	25.4M	22.3M	10.9M	12.6M	16.6M	15.2M	7.8M	-721K	21.5M	-27.4M	26.2M

Turning Point Brands, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement