Turning Point Brands, Inc. TPB R2K

Consumer Defensive · Tobacco · United States

https://www.turningpointbrands.com

Turning Point Brands, Inc., together with its subsidiaries, manufactures, markets, and distributes branded consumer products in the United States and Canada. The company operates through two segments, Zig-Zag Products and Stoker's Products. Its Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand. The Stoker's Products segment manufactures and markets moist snuff tobacco and loose-leaf chewing tobacco products under the Stoker's, FRE, Beech-Nut, Durango, Trophy, and Wind River brands. In addition, the company markets and distributes cannabis accessories and tobacco products. It sells its products to wholesale distributors and retail merchants in the independent and chain convenience stores, tobacco outlets, food stores, mass merchandising, drug store, and non-traditional retail channels. The company was formerly known as North Atlantic Holding Company, Inc. and changed its name to Turning Point Brands, Inc. in November 2015. Turning Point Brands, Inc. was founded in 1988 and is headquartered in Louisville, Kentucky.

Market & Price

Market Cap

$1.64B

Current Price

$84.93

High / Low (52W)

$142.85 / $70.59

Beta

0.93

Valuation

Stock P/E

29.09

Industry PE

18.88

Forward P/E

29.70

PEG Ratio

0.05

Book Value

$18.52

Price to Book

4.59

P/S

3.42

EV/EBITDA

18.51

Dividend Yield

0.37%

Profitability & Returns

ROCE

15.76%

ROE

22.52%

ROA

8.27%

Profit Margin

11.53%

Op Margin

10.31%

EPS (Latest Qtr)

$0.60

EPS (TTM)

$2.92

Balance Sheet & Liquidity

Debt/Equity

0.80

Quick Ratio

3.30

Current Ratio

5.87

Debt

$310.10M

Total Assets

$763.75M

Current Assets

$417.15M

Working Capital

$342.14M

Ownership

Promoter Holding

4.40%

Chg in Prom Hold

FII / Inst Holding

96.64%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$1.78B

Total Revenue (TTM)

$480.90M

EBITDA

$96.29M

Free Cash Flow

$-16.83M

Operating Cash Flow

$17.71M

Shares Outstanding

19.37M

Gross Margin

56.77%

Payout Ratio

10.45%

Growth (CAGR)

Revenue 5Y

12.96%

Profit 5Y

70.96%

Revenue (YoY)

16.80%

Earnings (YoY)

-24.10%

PROS

Strong return on equity of 22.5%.
Compounding revenue at 13.0% over 5 years.
Profit CAGR of 71.0% over 5 years.

CONS

Trading 40.5% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Consumer Defensive).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	TPB Turning Point Brands, Inc. R2K	84.93	29.09	$1.64B	0.37%	15.76%	22.52%	12.96%	70.96%
2	WMT Walmart Inc. SPX	115.75	40.76	$922.64B	0.86%	18.21%	24.13%	5.27%	23.30%
3	COST Costco Wholesale Corporation NDXSPX	956.32	49.76	$424.27B	0.61%	27.44%	29.65%	6.64%	11.49%
4	KO The Coca-Cola Company SPX	79.01	24.85	$339.94B	2.68%	21.13%	43.37%	3.69%	11.16%
5	PG The Procter & Gamble Company SPX	143.56	21.02	$334.29B	2.97%	23.63%	31.11%	1.67%	2.71%
6	PM Philip Morris International Inc. SPX	177.38	24.98	$276.46B	3.31%	35.35%	-	8.57%	7.84%
7	PEP PepsiCo, Inc. NDXSPX	144.19	22.64	$197.10B	4.11%	15.23%	43.88%	2.83%	-2.57%
8	MO Altria Group, Inc. SPX	69.58	14.53	$116.19B	6.09%	40.85%	-	-0.89%	6.42%
9	MNST Monster Beverage Corporation NDXSPX	88.08	42.55	$86.14B	-	28.33%	26.65%	9.54%	16.94%

Quarterly Results

Figures in USD.

Metric	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	51.58M	50.96M	53.82M	66.79M	72.09M	73.34M	73.56M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	106.44M	116.63M	118.98M	121.01M	124.28M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	46.83M	50.01M	48.55M	53.36M	55.98M
Gross Profit	24.87M	24.62M	26.22M	27.67M	32.01M	32.97M	32.32M	31.81M	35.80M	36.21M	38.74M	40.46M	41.18M	42.82M	12.28M	41.43M	47.94M	48.31M	52.32M	53.26M	59.97M	54.27M	50.33M	51.79M	51.47M	52.71M	49.56M	41.85M	46.39M	47.32M	47.38M	48.35M	50.40M	50.40M	-	59.61M	66.62M	70.43M	67.65M	68.30M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	36.42M	40.30M	44.54M	47.73M	55.81M
Operating Income	10.78M	11.89M	-	10.85M	13.66M	14.43M	-	9.74M	14.80M	12.96M	-	12.04M	19.94M	13.03M	-	9.04M	17.18M	16.02M	-	24.35M	24.88M	22.38M	-	19.23M	18.15M	19.82M	-	17.58M	20.09M	20.70M	24.60M	19.27M	22.87M	20.80M	-	23.19M	26.33M	25.89M	19.93M	12.48M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25.13M	28.23M	39.12M	22.02M	20.35M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.68M	5.14M	6.99M	6.13M	7.16M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17.83M	21.20M	30.23M	13.88M	11.13M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.04M	4.24M	6.47M	2.23M	-2.81M
Net Income	799.00K	6.79M	17.09M	1.88M	7.44M	7.37M	3.52M	3.03M	9.32M	7.95M	4.98M	6.56M	13.21M	6.27M	-12.27M	4.50M	10.29M	9.02M	14.38M	11.78M	15.36M	13.47M	11.45M	11.00M	5.42M	11.54M	-16.32M	7.60M	9.93M	10.83M	10.11M	12.01M	13.01M	12.38M	-	14.39M	14.48M	21.08M	8.21M	11.67M
Diluted EPS	0.05	0.34	0.87	0.10	0.38	0.38	0.18	0.15	0.47	0.40	0.25	0.33	0.66	0.31	-0.62	0.22	0.49	0.44	0.68	0.57	0.73	0.65	0.57	0.55	0.30	0.60	-0.93	0.41	0.53	0.58	0.53	0.63	0.68	0.68	-	0.79	0.79	1.13	0.42	0.60

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	200.33M	197.26M	206.23M	285.78M	-	-	-	-	321.23M	325.06M	360.66M	463.06M
Cost of Revenue	-	-	-	-	-	-	-	-	143.40M	142.12M	159.09M	198.75M
Gross Profit	93.16M	96.30M	100.55M	124.97M	142.56M	137.12M	189.99M	-	177.83M	182.94M	201.56M	264.31M
Operating Expenses	-	-	-	-	-	-	-	-	103.82M	99.98M	120.73M	168.99M
Operating Income	48.06M	44.51M	43.92M	49.68M	48.48M	27.23M	64.43M	-	74.01M	82.96M	80.83M	95.33M
EBITDA	-	-	-	-	-	-	-	-	64.97M	87.21M	89.14M	115.94M
Interest Expense	-	-	-	-	-	-	-	-	19.52M	21.03M	18.53M	25.39M
Pretax Income	-	-	-	-	-	-	-	-	42.07M	62.06M	64.96M	83.14M
Tax Provision	-	-	-	-	-	-	-	-	10.98M	24.00M	16.93M	14.99M
Net Income	-29.41M	9.15M	26.91M	20.21M	25.29M	16.23M	38.19M	-	11.64M	38.46M	39.81M	58.16M
Diluted EPS	-4.07	1.10	1.49	1.04	1.28	0.78	1.85	-	0.64	2.01	2.14	3.11
R&D Expense	1.20M	1.40M	2.00M	2.30M	2.50M	2.50M	1.30M	1.10M	600.00K	600.00K	1.30M	900.00K

Compounded Sales Growth

5 Years:	12.96%
1 Year:	16.80%

Compounded Profit Growth

5 Years:	70.96%
1 Year:	-24.10%

Stock Price Performance

1 Year:	+14.66%
6 Months:	-13.86%
3 Months:	-37.94%
1 Month:	+10.04%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	242.57M	242.46M	285.02M	282.28M	339.38M	446.58M	496.05M	601.56M	572.11M	569.37M	493.35M	763.75M
Current Assets	-	-	-	-	-	-	-	-	-	257.65M	267.63M	198.21M	417.15M
Cash & Equivalents	35.38M	8.47M	4.83M	2.87M	2.61M	3.31M	95.25M	41.77M	128.32M	106.40M	116.72M	46.16M	222.76M
Inventory	-	-	-	-	-	-	-	-	-	119.92M	91.70M	96.25M	107.99M
Receivables	-	-	-	-	-	-	-	-	-	8.38M	10.00M	9.62M	25.73M
Total Liabilities	-	-	324.07M	250.96M	228.95M	256.75M	340.00M	378.56M	467.84M	458.73M	417.36M	302.97M	391.77M
Current Liabilities	-	-	21.14M	41.57M	38.23M	63.77M	55.89M	56.63M	40.34M	41.38M	100.35M	44.82M	75.01M
Long Term Debt	-	-	290.77M	201.54M	186.19M	186.72M	268.95M	302.11M	414.17M	406.76M	307.06M	248.60M	293.62M
Total Debt	-	-	-	-	-	-	-	-	-	420.45M	377.86M	261.27M	308.97M
Total Equity	-63.43M	-91.57M	-81.61M	34.06M	53.32M	82.62M	106.58M	-	-	111.64M	150.98M	187.98M	354.30M
Shares Outstanding	-	-	-	-	-	-	-	-	-	19.80M	19.92M	20.20M	20.59M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-	24.43M	9.13M	29.69M	13.09M	37.80M	43.68M	-	30.27M	66.88M	67.06M	57.37M
Investing Cash Flow	-	-2.03M	-55.89M	-1.12M	-24.67M	15.90M	-64.82M	-	-18.79M	-5.91M	-10.51M	-31.67M
Financing Cash Flow	-	-26.03M	15.73M	-28.02M	9.93M	67.97M	-29.34M	-	-43.30M	-49.51M	-128.28M	148.27M
Capital Expenditure	-1.31M	-1.60M	-3.21M	-2.02M	-2.27M	-4.82M	-6.13M	-	-7.83M	-5.71M	-4.62M	-13.53M
Free Cash Flow	-	22.83M	5.92M	27.67M	10.82M	32.98M	37.54M	-	22.44M	61.17M	62.44M	43.84M
Net Change in Cash	-	-	-	-	-	-	-	-	-31.82M	11.47M	-71.73M	173.98M
Share Buybacks	1.44M	0	0	-	0	0	10.19M	38.68M	29.22M	0	5.05M	0

Ratios (Annual)

Figures in %.

Metric	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	46.5%	48.8%	48.8%	43.7%	-	-	-	-	55.4%	56.3%	55.9%	57.1%
Operating Margin %	24.0%	22.6%	21.3%	17.4%	-	-	-	-	23.0%	25.5%	22.4%	20.6%
Net Margin %	-14.7%	4.6%	13.1%	7.1%	-	-	-	-	3.6%	11.8%	11.0%	12.6%
ROE %	32.1%	-11.2%	79.0%	37.9%	30.6%	15.2%	-	-	10.4%	25.5%	21.2%	16.4%
ROCE %	-	20.1%	18.0%	20.4%	17.6%	7.0%	14.7%	-	13.9%	17.7%	18.0%	13.8%

Shareholding Pattern

Insiders

4.40%

Institutions

96.64%

Public Float

101.09%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	7.59%	1.47M	$124.90M
2	Thrivent Financial For Lutherans	6.36%	1.23M	$104.66M
3	Vanguard Capital Management LLC	4.21%	816.15K	$69.32M
4	ArrowMark Colorado Holdings LLC	3.85%	745.42K	$63.31M
5	First Trust Advisors LP	3.56%	689.90K	$58.59M
6	Driehaus Capital Management, LLC	3.32%	642.73K	$54.59M
7	Geode Capital Management, LLC	3.10%	600.97K	$51.04M
8	FMR, LLC	2.71%	524.34K	$44.53M
9	Two Sigma Investments, LP	2.66%	514.95K	$43.73M
10	Dimensional Fund Advisors LP	2.34%	453.79K	$38.54M

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TPB · Consumer Defensive