# Turning Point Brands, Inc. (TPB)

> Source: Nexqual · https://nexqual.com/TPB · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Turning Point Brands, Inc. (TPB), nexqual.com/TPB" · informational, not investment advice.

**Price:** USD 60.31 (+4.52% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 57.7 · day 57.82–60.39 · 52w 54.17–146.9 · market cap $1.21B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $507M, net income $44.6M (8.8% margin), free cash flow $19.6M (SEC filings).
- Valuation: P/E 27.1x (avg 26.0x at the last 3 fiscal year-ends), net debt $25.8M.
- 1 of 80 tracked superinvestors hold TPB (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 1.83 on a 1–5 scale) (6 analysts), mean target USD 118.5 (range 90–140).
- Total return with dividends: 1Y -33.1% vs S&P 500 +18.1%; 5Y +30.5% vs S&P 500 +85.1%.
- Next earnings: 2026-11-04, EPS estimate USD 0.32, revenue estimate $148M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $445M | $321M | $325M | $361M | $463M | $507M |
| Gross profit | $218M | $178M | $183M | $202M | $264M | — |
| Operating income | $90.3M | $74.0M | $83.0M | $80.8M | $95.3M | $75.0M |
| Net income | $52.1M | $11.6M | $38.5M | $39.8M | $58.2M | $44.6M |
| EPS (diluted) | $2.52 | $0.64 | $2.01 | $2.14 | $3.11 | — |
| Free cash flow | $62.1M | $22.4M | $61.2M | $62.4M | $43.8M | $19.6M |
| Gross margin | 48.9% | 55.4% | 56.3% | 55.9% | 57.1% | — |
| Operating margin | 20.3% | 23.0% | 25.5% | 22.4% | 20.6% | 14.8% |
| Net margin | 11.7% | 3.6% | 11.8% | 11.0% | 12.6% | 8.8% |
| Revenue growth | +10.0% | -27.9% | +1.2% | +11.0% | +28.4% | — |
| Cash + short-term investments | $128M | $106M | $118M | $48.9M | $223M | — |
| Total debt | $414M | $407M | $365M | $249M | $294M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 27.1x · P/S 2.4x · EV/Sales 2.4x · P/FCF 61.6x · P/B 2.7x · FCF yield 1.62% · Earnings yield 3.68% · Dividend yield (paid, TTM) 0.50% · Net debt $25.8M · EV $1.23B
P/E at fiscal year-ends: Dec 2025 34.9x, Dec 2024 29.2x, Dec 2023 14.0x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold TPB. Change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.03% | $3.7M | Added +12.0% |

## Analysts
Consensus Buy (mean 1.83 on a 1–5 scale), 6 analysts; mean target USD 118.5 (low 90, high 140).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-22 | Oppenheimer | Target lowered | Outperform | $130 → $90 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | -33.1% | +30.5% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | -33.2% | +5.5% |
| Volatility (annualized) | 55.9% | 44.7% |
| Max drawdown | -61.2% (Feb 2026→Oct 2026) | -59.3% (Feb 2026→Sep 2026) |

## Peers (Tobacco)
AIIR (Air Global PLC) USD 7.5 +0.40% · UVV (Universal Corporation) USD 40.43 -2.63% · RLX (RLX Technology Inc.) USD 1.71 +0.00% · MO (Altria Group, Inc.) USD 73.84 +3.19% · BTI (British American Tobacco  Indus) USD 58 +4.22% · PM (Philip Morris International Inc) USD 199.9 +0.31%

## More
Full page: https://nexqual.com/TPB · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt