Turning Point Brands (TPB) Financials

$94.02 +3.80 (+4.21%)

Closing price 05/8/2026 03:59 PM Eastern

Extended Trading

$93.66 -0.35 (-0.38%)

As of 05/8/2026 07:56 PM Eastern

Annual Income Statements for Turning Point Brands

This table shows Turning Point Brands' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	9.15	27	20	25	16	38	52	12	38	40	58
Consolidated Net Income / (Loss)	9.15	27	20	25	16	38	51	11	38	41	68
Net Income / (Loss) Continuing Operations	9.15	27	20	25	16	38	51	31	38	48	68
Total Pre-Tax Income	10	15	27	32	19	50	65	42	62	65	83
Total Operating Income	45	44	50	48	27	64	90	74	83	81	95
Total Gross Profit	96	101	125	143	137	190	218	178	183	202	264
Total Revenue	197	206	286	333	362	405	445	321	325	361	463
Operating Revenue	197	206	286	333	362	405	445	321	325	361	463
Total Cost of Revenue	101	106	161	190	225	215	228	143	142	159	199
Operating Cost of Revenue	101	106	161	190	225	215	228	143	142	159	199
Total Operating Expenses	52	57	75	94	110	126	128	104	100	121	169
Selling, General & Admin Expense	52	57	75	94	110	126	128	104	104	122	169
Other Operating Expenses / (Income)	-	-	-	-	-	-	0.00	0.00	-4.35	-1.67	0.00
Total Other Income / (Expense), net	-34	-29	-23	-17	-8.13	-14	-25	-32	-21	-16	-12
Interest Expense	34	30	6.12	2.38	1.31	0.00	-2.15	-0.89	-1.66	0.00	1.24
Interest & Investment Income	0.00	0.89	-16	-14	-12	-13	-27	-33	-27	-16	-18
Other Income / (Expense), net	-	-0.33	-0.18	-0.13	4.96	-0.99	0.00	0.00	4.00	0.00	6.62
Income Tax Expense	1.08	-12	7.28	6.29	2.86	12	14	11	24	17	15
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-	-20	-0.29	-7.52	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.00	-0.56	-	0.00	0.00	-0.80	-0.48	-0.68	0.70	9.99
Basic Earnings per Share	$1.27	$1.63	$1.06	$1.31	$0.83	$1.97	$2.75	$0.65	$2.19	$2.24	$3.18
Weighted Average Basic Shares Outstanding	7.20M	16.47M	18.99M	19.36M	19.63M	19.40M	18.92M	17.90M	17.58M	17.73M	18.31M
Diluted Earnings per Share	$1.10	$1.49	$1.04	$1.28	$0.78	$1.85	$2.52	$0.64	$2.01	$2.14	$3.11
Weighted Average Diluted Shares Outstanding	8.35M	18.02M	19.51M	19.83M	23.24M	22.94M	22.38M	18.06M	20.47M	19.36M	18.73M
Weighted Average Basic & Diluted Shares Outstanding	-	18.82M	19.10M	19.30M	19.72M	19.10M	18.27M	17.56M	17.62M	17.75M	19.14M
Cash Dividends to Common per Share	-	-	-	-	-	-	-	$0.24	$0.26	$0.28	$0.30

This table shows Turning Point Brands' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	9.93	11	10	12	13	12	2.42	14	14	21	8.21
Consolidated Net Income / (Loss)	9.71	11	9.87	12	13	12	3.06	16	17	24	12
Net Income / (Loss) Continuing Operations	9.71	11	10	12	13	13	11	16	17	24	12
Total Pre-Tax Income	13	15	25	16	17	17	15	18	21	30	14
Total Operating Income	21	20	24	19	23	21	18	23	26	26	20
Total Gross Profit	52	52	30	48	50	50	42	60	67	70	68
Total Revenue	106	102	17	83	93	91	49	106	117	119	121
Operating Revenue	106	102	17	83	93	91	49	106	117	119	121
Total Cost of Revenue	53	50	-13	35	43	40	7.36	47	50	49	53
Operating Cost of Revenue	53	50	-13	35	43	40	7.36	47	50	49	53
Total Operating Expenses	32	31	5.89	29	28	30	24	36	40	45	48
Selling, General & Admin Expense	32	31	10	29	29	30	24	36	40	45	48
Total Other Income / (Expense), net	-7.50	-5.60	0.24	-3.36	-5.48	-3.63	-3.52	-5.36	-5.12	4.34	-6.05
Interest & Investment Income	-8.10	-6.09	-3.57	-3.36	-5.48	-3.63	-3.52	-4.12	-5.12	-0.60	-7.72
Income Tax Expense	3.34	3.77	14	3.73	4.43	4.65	4.19	2.04	4.24	6.47	2.24
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.22	0.04	-0.24	0.17	-0.09	-0.02	0.64	1.40	2.48	2.68	3.43
Basic Earnings per Share	$0.56	$0.62	$0.58	$0.68	$0.74	$0.70	$0.12	$0.81	$0.81	$1.16	$0.40
Weighted Average Basic Shares Outstanding	17.58M	17.60M	17.58M	17.65M	17.66M	17.72M	17.73M	17.80M	17.92M	18.25M	18.31M
Diluted Earnings per Share	$0.53	$0.58	$0.49	$0.63	$0.68	$0.68	$0.15	$0.79	$0.79	$1.13	$0.40
Weighted Average Diluted Shares Outstanding	20.41M	20.10M	20.47M	20.17M	20.16M	18.45M	19.36M	18.25M	18.32M	18.71M	18.73M
Weighted Average Basic & Diluted Shares Outstanding	17.60M	17.60M	17.62M	17.62M	17.71M	17.70M	17.75M	17.90M	18.02M	19.07M	19.14M

This table details how cash moves in and out of Turning Point Brands' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-3.63	-31	0.56	-1.65	122	-50	66	-32	11	-72	174
Net Cash From Operating Activities	24	9.13	30	13	38	44	68	30	67	67	57
Net Cash From Continuing Operating Activities	24	9.13	30	13	38	44	68	21	56	61	57
Net Income / (Loss) Continuing Operations	9.15	27	20	25	16	38	51	31	38	48	68
Consolidated Net Income / (Loss)	9.15	27	20	25	16	38	51	11	38	41	68
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-	-20	-0.29	-7.52	0.00
Depreciation Expense	1.06	1.23	1.63	2.11	2.64	3.24	3.11	2.86	2.92	4.44	6.18
Amortization Expense	2.50	2.20	1.77	1.96	2.91	4.01	4.45	3.10	3.64	3.65	2.95
Non-Cash Adjustments To Reconcile Net Income	9.31	-2.71	6.99	3.80	-1.31	4.38	12	18	1.88	9.40	7.19
Changes in Operating Assets and Liabilities, net	2.41	-19	-0.35	-20	17	-6.15	-2.63	-34	9.73	-4.57	-27
Net Cash From Discontinued Operating Activities	-	-	-	-	-	-	-	8.98	11	6.10	0.00
Net Cash From Investing Activities	-2.03	-56	-1.12	-25	16	-65	-59	-19	-5.91	-11	-32
Net Cash From Continuing Investing Activities	-2.03	-56	-1.12	-25	16	-65	-59	-19	-5.91	-11	-32
Purchase of Property, Plant & Equipment	-1.60	-3.21	-2.02	-2.27	-4.82	-6.14	-6.16	-7.83	-5.71	-4.62	-14
Acquisitions	0.00	-24	-0.18	-21	-9.13	-59	-33	0.00	0.00	-0.50	-2.78
Purchase of Investments	0.00	0.00	-	-	-	-	-	-1.00	-0.20	-11	-14
Sale of Property, Plant & Equipment	0.00	-	0.00	0.00	0.12	0.00	0.05	0.04	0.00	0.01	0.00
Sale and/or Maturity of Investments	-	0.00	0.00	6.50	30	0.00	-20	0.00	0.00	5.42	6.36
Other Investing Activities, net	-0.43	-29	0.82	-7.74	-	-	-	-10	0.00	0.05	-7.97
Net Cash From Discontinued Investing Activities	-	-	-	-	-	-	-	0.18	0.00	0.00	0.00
Net Cash From Financing Activities	-26	16	-28	9.93	68	-29	57	-43	-50	-128	148
Net Cash From Continuing Financing Activities	-26	16	-28	9.93	68	-29	57	-43	-50	-128	148
Repayment of Debt	-24	-49	-232	-215	-81	-20	-147	0.00	-44	-119	-257
Repurchase of Common Equity	-2.05	-5.50	-0.45	0.00	0.00	-10	-39	-29	0.00	-5.05	0.00
Payment of Dividends	0.00	0.00	-0.77	-2.32	-3.53	-3.80	-4.10	-4.25	-4.50	-4.91	-5.52
Issuance of Debt	0.00	15	208	226	173	7.49	250	-	0.00	0.00	300
Issuance of Common Equity	0.00	56	-	-	-	-	-	-	0.00	0.00	108
Other Financing Activities, net	0.00	-0.57	-3.18	1.15	-20	-2.40	-3.61	-9.83	-0.78	0.35	2.58
Net Cash From Discontinued Financing Activities	-	-	-	-	-	-	-	0.00	0.00	0.00	0.00
Cash Interest Paid	23	35	16	14	12	11	13	19	18	17	20
Cash Income Taxes Paid	1.03	0.62	1.81	3.22	11	3.38	16	13	12	21	10

This table details how cash moves in and out of Turning Point Brands' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-4.29	-4.47	22	10	11	-109	16	51	10	91	22
Net Cash From Operating Activities	12	12	27	23	13	13	18	17	12	3.29	25
Net Cash From Continuing Operating Activities	12	12	16	19	13	13	12	17	12	3.29	25
Net Income / (Loss) Continuing Operations	9.71	11	10	12	13	12	11	16	17	24	12
Consolidated Net Income / (Loss)	9.71	11	9.87	12	13	12	3.06	16	17	24	12
Depreciation Expense	0.76	0.85	0.53	0.85	0.97	1.48	1.05	1.31	1.58	1.60	1.69
Amortization Expense	1.37	1.34	-0.47	1.00	1.48	1.33	-0.63	0.76	0.73	0.73	0.74
Non-Cash Adjustments To Reconcile Net Income	5.62	3.49	-12	2.03	4.57	1.55	1.26	2.56	1.48	-1.60	4.75
Changes in Operating Assets and Liabilities, net	-5.31	-4.08	18	3.12	-6.50	-3.47	-0.61	-3.01	-8.93	-21	6.03
Net Cash From Investing Activities	-0.56	-1.41	-1.50	-7.99	0.01	-1.09	-1.45	-5.23	-3.40	-20	-3.29
Net Cash From Continuing Investing Activities	-0.56	-1.41	-1.50	-7.99	0.01	-1.09	-1.45	-5.23	-3.40	-20	-3.29
Purchase of Property, Plant & Equipment	-0.56	-1.21	-1.50	-0.37	-2.49	-0.66	-1.11	-2.19	-3.99	-4.01	-3.35
Purchase of Investments	-	-0.20	-0.00	-7.62	-0.82	-0.93	-1.99	-0.71	-3.37	-8.80	-0.88
Sale and/or Maturity of Investments	-	-	-	0.00	-	1.25	0.86	0.50	3.96	1.00	0.90
Other Investing Activities, net	-	-	-	-0.00	-	-	-	-0.05	-	-7.95	0.04
Net Cash From Financing Activities	-16	-16	-3.55	-4.57	-2.17	-121	-0.76	39	1.79	108	0.02
Net Cash From Continuing Financing Activities	-16	-16	-3.55	-4.57	-2.17	-121	-0.76	39	1.79	108	0.02
Payment of Dividends	-1.16	-1.15	-1.14	-1.15	-1.26	-1.24	-1.26	-1.39	-1.35	-1.36	-1.43
Other Financing Activities, net	-0.37	-42	0.03	-1.35	0.19	0.12	1.39	-3.56	3.88	0.81	1.45

This table presents Turning Point Brands' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	242	285	282	339	447	496	602	572	569	493	764
Total Current Assets	64	79	79	112	189	163	249	258	268	198	417
Cash & Equivalents	4.84	2.87	2.61	3.31	95	42	128	106	117	46	223
Accounts Receivable	3.94	2.18	3.25	2.62	6.91	9.33	6.50	8.38	10	9.62	26
Inventories, net	44	62	63	91	71	86	88	120	92	96	108
Other Current Assets	11	12	10	15	16	26	27	23	37	35	61
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	12	11	0.00
Plant, Property, & Equipment, net	5.60	7.59	8.86	11	14	16	19	23	25	26	36
Total Noncurrent Assets	173	199	194	217	244	317	334	292	277	269	310
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	-	-	11	12	14
Goodwill	129	134	135	146	154	160	162	136	136	136	136
Intangible Assets	8.55	27	26	35	33	79	87	84	66	65	64
Noncurrent Deferred & Refundable Income Taxes	0.00	6.29	0.45	-	-	0.61	1.36	8.44	1.47	1.00	0.00
Other Noncurrent Operating Assets	35	31	32	35	55	77	82	63	46	51	96
Other Noncurrent Nonoperating Assets	0.21	0.14	0.63	0.87	0.89	0.64	0.39	0.28	15	3.86	0.00
Total Liabilities & Shareholders' Equity	242	285	282	339	447	496	602	572	569	493	764
Total Liabilities	324	251	229	257	340	379	468	459	417	303	392
Total Current Liabilities	21	42	38	64	56	57	40	41	100	45	75
Accounts Payable	4.09	9.15	3.69	6.84	14	9.20	7.36	8.36	7.79	12	20
Accrued Expenses	11	15	19	23	27	35	33	33	32	31	55
Other Current Nonoperating Liabilities	4.33	0.39	-	-	-	-	-	-	2.21	2.05	0.00
Total Noncurrent Liabilities	303	209	191	193	284	322	428	417	317	258	317
Long-Term Debt	291	202	186	187	269	302	414	407	307	249	294
Noncurrent Deferred & Payable Income Tax Liabilities	7.01	-	0.00	2.29	1.57	-	-	-	-	0.00	8.29
Other Noncurrent Operating Liabilities	0.00	3.02	0.57	0.89	14	20	13	11	9.90	9.55	15
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-82	34	53	83	107	117	134	113	152	190	372
Total Preferred & Common Equity	-82	34	53	83	107	113	131	112	151	188	354
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-82	34	53	83	107	113	131	112	151	188	354
Common Stock	13	105	104	110	126	103	109	113	119	127	204
Retained Earnings	-91	-67	-48	-26	-15	24	71	79	112	147	200
Accumulated Other Comprehensive Income / (Loss)	-3.51	-4.05	-2.97	-2.54	-3.77	-2.64	-0.20	-2.39	-2.65	-2.90	-1.56
Other Equity Adjustments	-	-	-	0.20	-	-10	-49	-78	-78	-83	-48
Noncontrolling Interest	-	-	-	-	0.00	4.05	2.31	1.74	1.03	2.40	18

This table presents Turning Point Brands' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	604	600	560	560	554	586	592	488	565	596	743
Total Current Assets	259	256	247	252	247	279	290	185	259	285	396
Cash & Equivalents	107	106	105	101	96	131	142	34	100	110	201
Accounts Receivable	9.18	11	8.58	7.92	10	8.20	13	11	15	30	28
Inventories, net	115	114	114	125	117	105	102	106	104	105	113
Other Current Assets	27	25	20	18	23	34	33	34	40	40	55
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	0.00	0.00	0.00
Plant, Property, & Equipment, net	22	23	24	24	25	25	26	26	28	31	34
Total Noncurrent Assets	323	321	288	284	283	283	275	277	278	280	313
Goodwill	162	162	136	136	136	136	136	136	136	136	136
Intangible Assets	87	86	83	82	82	80	79	79	65	65	64
Noncurrent Deferred & Refundable Income Taxes	2.11	2.80	8.07	7.97	8.19	1.43	1.18	0.92	0.00	0.00	0.00
Other Noncurrent Operating Assets	71	70	61	57	56	62	56	59	77	79	112
Other Noncurrent Nonoperating Assets	0.34	0.31	0.26	0.23	0.20	2.31	2.15	1.98	0.00	0.00	0.00
Total Liabilities & Shareholders' Equity	604	600	560	560	554	586	592	488	565	596	743
Total Liabilities	476	469	440	430	414	425	418	301	361	371	385
Total Current Liabilities	49	42	36	42	87	109	161	44	59	68	71
Accounts Payable	14	9.25	10	11	11	19	12	13	27	26	25
Accrued Expenses	35	33	26	31	27	31	30	30	32	41	47
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	0.00	0.00	0.00
Total Noncurrent Liabilities	427	427	404	389	327	316	257	257	303	303	313
Long-Term Debt	415	416	394	379	317	306	248	248	293	293	293
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	-	0.89	1.97	3.97
Other Noncurrent Operating Liabilities	12	11	10	9.53	10	9.36	8.83	9.06	8.57	8.34	16
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	128	131	120	129	140	161	174	187	203	225	358
Total Preferred & Common Equity	126	129	118	128	139	160	173	186	200	219	344
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	126	129	118	128	139	160	173	186	200	219	344
Common Stock	111	112	114	115	117	120	122	124	125	130	201
Retained Earnings	86	96	85	94	104	123	135	146	160	173	193
Accumulated Other Comprehensive Income / (Loss)	-2.06	-3.42	-2.23	-3.18	-3.86	-3.05	-3.07	-2.11	-2.36	-2.01	-1.90
Other Equity Adjustments	-68	-76	-78	-78	-78	-80	-81	-82	-83	-83	-48
Noncontrolling Interest	1.88	1.59	1.45	1.18	1.31	1.19	1.10	1.09	3.75	6.25	14

This table displays calculated financial ratios and metrics derived from Turning Point Brands' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	19,070,757.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	19,070,757.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	3.05
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	40	79	36	39	23	49	71	55	51	60	78
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	10.51%	9.83%	13.61%	11.74%
Earnings before Interest and Taxes (EBIT)	45	44	50	48	32	63	90	74	87	81	102
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	48	47	53	52	38	71	98	80	94	89	111
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-170	40	34	-8.20	28	-45	41	60	88	56	15
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	210	250	252	299	295	389	419	413	376	380	443
Increase / (Decrease) in Invested Capital	210	40	2.45	47	-4.53	95	30	-5.73	-38	3.64	63
Book Value per Share	($11.35)	$1.86	$2.78	$4.23	$5.42	$5.92	$6.96	$6.36	$8.58	$10.62	$18.58
Tangible Book Value per Share	($30.42)	($6.95)	($5.61)	($5.05)	($4.13)	($6.55)	($6.27)	($6.16)	($2.94)	($0.75)	$8.08
Total Capital	211	252	255	303	391	432	548	520	517	439	666
Total Debt	292	218	202	221	284	314	414	407	365	249	294
Total Long-Term Debt	291	202	186	187	269	302	414	407	307	249	294
Net Debt	288	215	199	217	189	272	286	300	249	202	71
Capital Expenditures (CapEx)	1.60	3.21	2.02	2.27	4.69	6.13	6.10	7.80	5.70	4.62	14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	40	51	55	79	53	77	81	110	109	107	119
Debt-free Net Working Capital (DFNWC)	44	54	57	82	149	119	209	216	226	153	342
Net Working Capital (NWC)	43	37	41	48	133	107	209	216	167	153	342
Net Nonoperating Expense (NNE)	31	52	17	14	6.91	11	20	44	13	19	9.99
Net Nonoperating Obligations (NNO)	292	216	199	217	188	272	285	300	224	189	71
Total Depreciation and Amortization (D&A)	3.56	3.43	3.40	4.06	5.55	7.25	7.55	5.96	6.56	8.09	9.13
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.27	$1.63	$1.06	$1.31	$0.70	$1.70	$2.75	$0.65	$2.19	$2.24	$3.18
Adjusted Weighted Average Basic Shares Outstanding	7.20M	16.47M	18.99M	19.36M	19.63M	19.40M	18.92M	17.90M	17.58M	17.73M	18.31M
Adjusted Diluted Earnings per Share	$1.10	$1.49	$1.04	$1.28	$0.69	$1.67	$2.52	$0.64	$2.01	$2.14	$3.11
Adjusted Weighted Average Diluted Shares Outstanding	8.35M	18.02M	19.51M	19.83M	20.04M	19.73M	22.38M	18.06M	20.47M	19.36M	18.73M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.70	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	18.82M	19.22M	19.56M	19.72M	19.10M	18.27M	17.56M	17.62M	17.75M	19.14M
Normalized Net Operating Profit after Tax (NOPAT)	40	31	36	39	23	49	71	55	51	60	78
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Turning Point Brands' official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	19,070,757.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	19,070,757.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.43
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	15	15	10	15	17	15	13	21	21	20	17
Return On Investment Capital (ROIC_SIMPLE)	-	-	1.94%	2.80%	-	-	2.98%	4.14%	4.07%	3.12%	2.51%
Earnings before Interest and Taxes (EBIT)	21	20	24	19	23	21	18	23	26	31	20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	23	22	24	21	25	23	19	25	29	33	22
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	43	47	48	29	29	24	9.45	18	9.09	-30	-47
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	408	409	376	394	396	400	380	397	408	450	443
Increase / (Decrease) in Invested Capital	-28	-32	-38	-15	-12	-9.27	3.64	3.02	12	51	63
Book Value per Share	$7.28	$7.89	$8.58	$9.08	$9.81	$10.48	$10.62	$11.25	$12.21	$19.08	$18.58
Tangible Book Value per Share	($5.13)	($4.50)	($2.94)	($3.21)	($2.43)	($1.66)	($0.75)	($0.06)	$1.00	$7.96	$8.08
Total Capital	508	505	517	527	540	435	439	496	518	652	666
Total Debt	379	365	365	366	366	248	249	293	293	293	294
Total Long-Term Debt	379	317	307	306	248	248	249	293	293	293	294
Net Debt	279	269	249	235	224	215	202	193	183	92	71
Capital Expenditures (CapEx)	0.56	1.21	1.50	0.37	2.49	0.66	1.11	2.19	3.99	4.01	3.35
Debt-free, Cash-free Net Working Capital (DFCFNWC)	109	112	109	98	105	107	107	101	108	124	119
Debt-free Net Working Capital (DFNWC)	210	208	226	229	247	141	153	200	218	325	342
Net Working Capital (NWC)	210	160	167	170	129	141	153	200	218	325	342
Net Nonoperating Expense (NNE)	5.58	4.16	0.19	2.57	4.05	2.60	10	4.75	4.10	-3.41	5.07
Net Nonoperating Obligations (NNO)	278	269	224	233	222	213	189	193	183	92	71
Total Depreciation and Amortization (D&A)	2.13	2.20	0.07	1.85	2.45	2.81	0.42	2.06	2.31	2.32	2.43
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.56	$0.62	$0.58	$0.68	$0.74	$0.70	$0.12	$0.81	$0.81	$1.16	$0.40
Adjusted Weighted Average Basic Shares Outstanding	17.58M	17.60M	17.58M	17.65M	17.66M	17.72M	17.73M	17.80M	17.92M	18.25M	18.31M
Adjusted Diluted Earnings per Share	$0.53	$0.58	$0.49	$0.63	$0.68	$0.68	$0.15	$0.79	$0.79	$1.13	$0.40
Adjusted Weighted Average Diluted Shares Outstanding	20.41M	20.10M	20.47M	20.17M	20.16M	18.45M	19.36M	18.25M	18.32M	18.71M	18.73M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	17.60M	17.60M	17.62M	17.62M	17.71M	17.70M	17.75M	17.90M	18.02M	19.07M	19.14M
Normalized Net Operating Profit after Tax (NOPAT)	15	15	17	15	17	15	13	21	21	20	17
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

Financials Breakdown Chart

Key Financial Trends

Turning Point Brands (TPB) shows a multi-year growth trajectory in revenue and improving cash generation in 2025. Below are the key trends drawn from the last four years of quarterly statements.

Revenue growth: 2025 Q4 Operating Revenue was 121,013,000, up from 2024 Q4’s 49,473,000 and 2022 Q4’s 9,608,000, reflecting a multi-year expansion to about 121 million in 2025.
Positive operating cash flow: Net cash from continuing operating activities was positive in every 2025 quarter, ending 2025 Q4 at 24,859,000, signaling solid cash generation from core operations.
Positive free cash flow in 2025 Q4: Free cash flow (approx. 24,859,000 minus capex of 3,347,000) is about 21,512,000, indicating cash available for debt reduction, dividends, or strategic investments.
Net income to common shareholders remained positive across 2025 quarters: Q1 14,395,000; Q2 14,480,000; Q3 21,080,000; Q4 8,210,000, suggesting consistent profitability at the shareholder level through the year.

Liquidity strength: Cash and equivalents were substantial in mid-2025 (Q3 2025 shows about 201,189,000 in cash/equivalents), supporting liquidity for operations and capex needs.
Debt posture: Long-term debt hovered around 293,000,000 through 2025, with a notable one-time debt issuance of 300,000,000 in 2025 Q3 to support growth—creating a higher but manageable leverage profile.
Inventory/workable capital: Inventories rose in the growth period (consistent with revenue gains), contributing to higher current assets and working capital needs, a typical sign of expansion rather than immediate distress.

Gross margin compression in 2025: Gross profit rose with revenue (e.g., Q4 2025 gross profit around 67.6M on 121.0M revenue), but gross margin appears to have compressed versus 2024 levels (from about mid-80% in late 2024 to roughly mid-50% in late-2025), suggesting mix or pricing pressures.
Earnings volatility: Quarterly earnings fluctuated in 2025 (Q3 net income to common shareholders was about 21.1M; Q4 dropped to ~8.2M), indicating profitability cycles rather than a steady run-rate.
Leverage/risk from debt financing: The 2025 debt issuance of 300M increases leverage and could raise interest costs if interest rates rise or growth slows, adding financing risk to the upside from growth.

05/09/26 10:17 AM ETAI Generated. May Contain Errors.

Turning Point Brands Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Turning Point Brands' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Turning Point Brands' net income appears to be on an upward trend, with a most recent value of $68.15 million in 2025, rising from $9.15 million in 2015. The previous period was $40.51 million in 2024. Find out what analysts predict for Turning Point Brands in the coming months.

Turning Point Brands' total operating income in 2025 was $95.33 million, based on the following breakdown:

Total Gross Profit: $264.31 million
Total Operating Expenses: $168.99 million

Over the last 10 years, Turning Point Brands' total revenue changed from $197.26 million in 2015 to $463.06 million in 2025, a change of 134.8%.

Turning Point Brands' total liabilities were at $391.77 million at the end of 2025, a 29.3% increase from 2024, and a 20.9% increase since 2015.

In the past 10 years, Turning Point Brands' cash and equivalents has ranged from $2.61 million in 2017 to $222.76 million in 2025, and is currently $222.76 million as of their latest financial filing in 2025.

Over the last 10 years, Turning Point Brands' book value per share changed from -11.35 in 2015 to 18.58 in 2025, a change of -263.7%.

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Financial statements for NYSE:TPB last updated on 3/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Turning Point Brands (TPB) Financials

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Turning Point Brands (TPB) Financials

Annual Income Statements for Turning Point Brands

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Quarterly Metrics And Ratios for Turning Point Brands

Financials Breakdown Chart

Key Financial Trends

Turning Point Brands Financials - Frequently Asked Questions

When does Turning Point Brands' financial year end?

How has Turning Point Brands' net income changed over the last 10 years?

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How has Turning Point Brands' revenue changed over the last 10 years?

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How has Turning Point Brands' book value per share changed over the last 10 years?

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