TPBNYSETobacco ProductsFiscal year ends December 31
Turning Point Brands, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$61.59−1.06 (-1.69%)
Close on Oct 19, 2026
- Market cap
- $1.24B
- P/E (TTM)
- 26.4
- Dividend yield
- 0.49%
Margins
Share of revenue, fiscal years 2013 to 2025
Gross margin
57.1%+10.2 pts over 5 years
Operating margin
20.6%+4.7 pts over 5 years
Net margin
12.6%+3.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +28.4% | +13.0% | +2.7% | +8.9% | |
| Gross profit | +31.1% | +14.1% | +6.8% | +10.6% | |
| Operating income | +17.9% | +8.8% | +8.2% | +7.9% | |
| Net income | +46.1% | +71.0% | +8.8% | +20.3% | |
| EPS, diluted | +45.3% | +69.4% | +10.9% | +11.0% | |
| Free cash flow | -29.8% | +25.0% | +3.2% | +6.7% | |
| Dividend per share | +7.1% | +7.7% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -113.2% | – | – | |
| Return on assets | 10.2% | 8.1% | 9.3% | |
| Current ratio | 1.90 | 2.89 | 5.56 | |
| Debt to equity | 5.97 | – | – | |
| Net debt to EBITDA | 4.43× | 3.75× | – | |
| Interest coverage | 1.6× | – | 3.8× | |
| Inventory turnover | 2.0× | 2.7× | 1.9× | |
| Capex to revenue | 1.6% | 1.5% | 2.9% | |
| Diluted shares | 18M | 23M | 19M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Turning Point Brands generated $289.81M from operations and spent $134.07M on capital expenditure, dividends and share buybacks. 28% of that went back into the business.
Generated
$289.81M
Used
$134.07M
Capital expenditure$37.85M28%Dividends$23.27M17%Share buybacks$72.95M54%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin11.8%
×Asset turnover0.57×
×Equity multiplier4.35×
=Return on equity, FY202329.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2023 | 11.8% | 0.57× | 4.35× | 29.3% |
| FY2019 | 4.5% | 0.92× | 4.15× | 17.2% |
| FY2018 | 7.6% | 1.07× | 4.57× | 37.2% |
| FY2017 | 7.1% | 1.01× | 6.49× | 46.3% |
| FY2016 | 13.1% | 0.78× | -11.09× | -113.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$58.17M
- Cash generatingOperating cash flow above zero$57.37M
- Return on assets improvedROA up on the prior year7.0% → 11.8%
- Earnings backed by cashOperating cash flow above net income$57.37M vs $58.17M
- Less leverageLong-term debt to assets fell50.4% → 38.4%
- Better liquidityCurrent ratio rose4.42 → 5.56
- No dilutionShare count did not rise19M → 19M
- Gross margin improvedGross margin up on the prior year55.89% → 57.08%
- More efficientAsset turnover rose0.63 → 0.94