Turning Point Brands, Inc. (TPB) Income Statement
TPB 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTPB revenue and net income
Where TPB's revenue goes
2025Each bar shows an amount and its share of revenue. TPB kept 12.6% of revenue as net income.
TPB profit margins
TPB growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +28.4% | +13.0% | +2.7% | +8.9% |
| Gross profit | +31.1% | +14.1% | +6.8% | +10.6% |
| Operating income | +9.9% | +6.4% | +8.2% | +7.9% |
| Net income | +46.1% | +71.0% | +8.8% | +13.3% |
| EPS (diluted) | +12.1% | +12.1% | +7.2% | +14.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TPB quarterly EPS vs estimates
Turning Point Brands beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.19).
TPB income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $463.1M | $360.7M | $325.1M | $321.2M | $445.5M | $405.1M | $362.0M | $332.7M | $285.8M | $206.2M |
| Cost of revenue | $198.7M | $159.1M | $142.1M | $143.4M | $227.6M | $215.1M | $201.9M | $190.1M | $160.9M | $105.9M |
| Gross profit | $264.3M | $201.6M | $182.9M | $177.8M | $217.8M | $190.0M | $160.1M | $142.6M | $124.9M | $100.4M |
| Research & development | — | $1.3M | $600,000 | $600,000 | $1.1M | $1.3M | $2.5M | $2.5M | $2.3M | $1.8M |
| Sales, general & admin | $169.0M | $113.5M | $102.2M | $98.0M | $123.2M | $121.6M | $104.7M | $79.0M | $65.0M | $50.3M |
| Total operating expenses | $169.0M | $114.8M | $102.8M | $98.6M | $127.5M | $125.6M | $132.9M | $94.1M | $75.4M | $56.8M |
| Operating income | $95.3M | $86.7M | $80.2M | $79.2M | $90.3M | $64.4M | $27.2M | $48.5M | $49.5M | $43.6M |
| Interest income | $7.9M | $13.2M | $26.6M | $32.8M | $27.2M | $20.0M | $14.7M | $14.4M | $16.5M | $25.9M |
| Interest expense | $25.4M | $14.0M | $14.6M | $19.5M | $20.5M | $13.5M | $14.4M | $15.1M | $16.9M | $26.6M |
| Income before taxes | $83.1M | $65.0M | $62.1M | $42.1M | $65.3M | $50.1M | $19.1M | $31.6M | $26.9M | $14.9M |
| Income taxes | $15.0M | $16.9M | $24.0M | $11.0M | $14.0M | $12.0M | $2.9M | $6.3M | $7.3M | −$12.0M |
| Net income | $58.2M | $39.8M | $38.5M | $11.6M | $52.1M | $38.2M | $16.2M | $25.3M | $20.2M | $26.9M |
| EBITDA | $115.9M | $94.1M | $88.6M | $65.0M | $98.6M | $72.1M | $57.3M | $60.6M | $46.1M | $45.8M |
| EPS (diluted) | $3.97 | $3.54 | $2.96 | $2.82 | $3.02 | $2.81 | $1.93 | $1.81 | $1.65 | $1.15 |
| Gross margin | 57.1% | 55.9% | 56.3% | 55.4% | 48.9% | 46.9% | 44.2% | 42.9% | 43.7% | 48.7% |
| Operating margin | 20.6% | 24.0% | 24.7% | 24.7% | 20.3% | 15.9% | 7.5% | 14.6% | 17.3% | 21.1% |
| Net margin | 12.6% | 11.0% | 11.8% | 3.6% | 11.7% | 9.4% | 4.5% | 7.6% | 7.1% | 13.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $143.0M | $124.3M | $121.0M | $119.0M | $116.6M | $106.4M | $93.7M | $90.7M | $93.2M | $83.1M | $97.1M | $100.7M |
| Cost of revenue | $49.3M | $56.0M | $53.4M | $48.6M | $50.0M | $46.8M | $41.2M | $40.3M | $42.8M | $34.7M | $46.6M | $49.1M |
| Gross profit | $93.7M | $68.3M | $67.7M | $70.4M | $66.6M | $59.6M | $52.4M | $50.4M | $50.4M | $48.4M | $50.5M | $51.6M |
| Research & development | — | — | — | — | — | — | — | — | — | — | $600,000 | — |
| Sales, general & admin | $77.0M | $55.8M | $47.7M | $8.2M | $8.9M | $9.2M | $29.9M | $5.5M | $6.8M | $5.2M | $8.0M | $5.5M |
| Total operating expenses | $77.0M | $55.4M | $47.7M | $44.5M | $40.3M | $36.4M | $34.5M | $29.6M | $27.5M | $29.1M | $26.6M | $31.4M |
| Operating income | $16.7M | $12.9M | $19.9M | $25.9M | $26.3M | $23.2M | $17.9M | $20.8M | $22.9M | $19.3M | $24.0M | $20.2M |
| Interest income | — | $2.7M | $1.8M | $3.5M | $5.1M | $1.3M | $3.5M | $3.6M | — | $1.8M | — | $6.1M |
| Interest expense | $4.3M | $7.2M | $6.1M | $7.0M | $5.1M | $4.4M | $3.7M | $3.8M | $3.0M | $5.3M | $2.6M | $4.0M |
| Income before taxes | $14.0M | $11.1M | $13.9M | $30.2M | $21.2M | $17.8M | $14.5M | $17.2M | $17.4M | $15.9M | $24.2M | $14.6M |
| Income taxes | $3.7M | −$2.8M | $2.2M | $6.5M | $4.2M | $2.0M | $4.1M | $4.7M | $4.4M | $3.7M | $14.3M | $3.8M |
| Net income | $3.6M | $11.7M | $8.2M | $21.1M | $14.5M | $14.4M | $2.4M | $12.4M | $13.0M | $12.0M | $10.1M | $10.8M |
| EBITDA | $20.6M | $20.3M | $22.0M | $39.1M | $30.1M | $25.0M | $24.1M | $23.6M | $24.5M | $21.7M | $28.5M | $22.5M |
| EPS (diluted) | $0.18 | $0.76 | $0.95 | $1.13 | $0.98 | $0.91 | $0.98 | $0.87 | $0.89 | $0.80 | $0.79 | $0.76 |
| Gross margin | 65.5% | 55.0% | 55.9% | 59.2% | 57.1% | 56.0% | 56.0% | 55.6% | 54.1% | 58.2% | 52.0% | 51.3% |
| Operating margin | 11.7% | 10.4% | 16.5% | 21.8% | 22.6% | 21.8% | 19.1% | 22.9% | 24.5% | 23.2% | 24.7% | 20.1% |
| Net margin | 2.5% | 9.4% | 6.8% | 17.7% | 12.4% | 13.5% | 2.6% | 13.6% | 14.0% | 14.5% | 10.4% | 10.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TPB's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TPB financial results
In fiscal year 2025 (ended December 31, 2025), Turning Point Brands reported revenue of $463.1 million, up 28.4% from the year before. It had net income of $58.2 million (up 46.1%), a net profit margin of 12.6%. Diluted earnings per share came to $3.97. Over five years revenue grew at an average rate of 2.7% a year.
See the TPB stock overview for the latest quote and news, or the TPB chart for price history and technical indicators.
TPB income statement FAQ
What is Turning Point Brands's annual revenue?
Turning Point Brands reported total revenue of $463.1 million for fiscal year 2025, which ended on December 31, 2025. That was up 28.4% from $360.7 million the previous year.
Is Turning Point Brands profitable?
Yes. Turning Point Brands reported net income of $58.2 million in fiscal 2025, a net profit margin of 12.6%; its operating margin was 20.6%.
What is Turning Point Brands's gross margin?
Turning Point Brands's gross margin was 57.1% in fiscal 2025: for every $100 of revenue, Turning Point Brands kept $57 after the direct cost of its products and services.
How fast is Turning Point Brands growing?
Revenue grew 2.7% a year on average over the last five fiscal years, from $405.1 million to $463.1 million.
What are Turning Point Brands's earnings per share?
Turning Point Brands earned $3.97 per diluted share in fiscal 2025, compared with $3.54 a year earlier.
When will Turning Point Brands report its next earnings?
Turning Point Brands is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 before the market opens.
When does Turning Point Brands's fiscal year end?
Turning Point Brands's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.