Turning Point Brands (TPB) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Turning Point Brands

NYSE•Consumer Defensive•Tobacco

$71.51-0.44(-0.01%)Pre-market

Market Cap

$1.36B

P/E

30.6x

P/S

2.7x

P/B

3.0x

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.

How this company scores

GoodMetricSide Score: 62/100

Strongest: Growth (17/25); weakest: Cash & Earnings Quality (14/25).

Profitability14/25

Growth17/25

Balance Sheet & Red Flags17/25

Cash & Earnings Quality14/25

Strengths

Growing revenueCash-backed earningsImproving leverageImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 30.6x5y range 9.4x – 43.7x

Currently near its 20-quarter median.

P/S · 2.7x5y range 0.9x – 4.5x

Currently above its 20-quarter median.

P/B · 3.0x5y range 2.8x – 6.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 40.5% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $1.36B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $507.23M
Q. Revenue: $142.96M
TTM EBITDA: $82.10M
TTM Op. Income: $75.01M
Q. Op. Income: $16.71M
TTM Net Income: $44.55M
Q. Net Income: $3.60M
EPS: $0.18
Shares Out.: $19.89M

$507.23M in TTM revenue grew 34.1% YoY, reaching $142.96M last quarter. TTM EBITDA of $82.10M and TTM operating income of $75.01M show growth is flowing through to the bottom line. TTM net income of $44.55M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 6 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 65.5%
EBITDA Margin: 13.1%
Op. Margin: 11.7%
Net Margin: 2.5%

Op. margin of 11.7% is down 10.9% YoY — costs are rising relative to revenue. Net margin at 2.5% and gross margin of 65.5% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 48% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 30.6x
P/S Ratio: 2.7x
P/B Ratio: 3.0x

At 30.6x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 2.7x and P/B of 3.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 1% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $855.20M
Cash: $268.31M
Long-Term Debt: $294.14M
Book Value: $454.02M
D/E Ratio: 0.6
Debt/EBITDA: 15.7

With $855.20M in assets and $294.14M in long-term debt, D/E is 0.6and book value is $454.02M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 5 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $26.33M
TTM Free Cash Flow: $19.63M
FCF Margin: 3.9%
FCF / Net Income: 0.4

TTM FCF of $19.63M on $26.33M in operating cash flow. The FCF / Net Income ratio of 0.4x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is down 57% — an improving trend.