Turning Point Brands, Inc. (TPB) Key Metrics
TPB valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.21B
- Enterprise value
- $1.26B
- P/E (TTM)
- 27.0 10-yr median 22.2
- Forward P/E
- 38.2
- PEG ratio
- 0.05
- Price / sales
- 2.5 10-yr median 1.6
- Price / book
- 2.8 10-yr median 6.3
- EV / EBITDA
- 12.3 10-yr median 12.9
- Dividend yield
- 0.51% $0.32 a year
- Beta
- 0.97
TPB key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTPB valuation Price multiples at each fiscal year-end price.
TPB returns How much profit the business earns on the capital it uses.
TPB per-share figures Results divided by the shares outstanding at year-end.
TPB financial health Debt, liquidity and how easily interest is covered.
TPB efficiency & capital use Working capital cycle and where the cash goes.
TPB valuation history
TPB returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TPB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TPB cash returned to shareholders
TPB price vs earnings per share
TPB key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.03B | $1.16B | $538.7M | $390.5M | $845.6M | $879.4M | $573.1M | $539.7M | $412.3M | $220.7M |
| Enterprise value | $2.12B | $1.38B | $798.8M | $704.6M | $1.15B | $1.17B | $775.3M | $757.1M | $611.7M | $436.1M |
| P/E ratio | 34.9 | 29.2 | 14.0 | 33.5 | 16.2 | 23.0 | 35.3 | 21.3 | 20.4 | 8.2 |
| Price / sales | 4.4 | 3.2 | 1.7 | 1.2 | 1.9 | 2.2 | 1.6 | 1.6 | 1.4 | 1.1 |
| Price / book | 5.7 | 6.2 | 3.6 | 3.5 | 6.4 | 7.8 | 5.4 | 6.5 | 7.7 | 6.5 |
| Price / free cash flow | 46.3 | 18.6 | 8.8 | 17.3 | 13.6 | 23.4 | 17.4 | 49.9 | 14.9 | 37.3 |
| Price / operating cash flow | 35.4 | 17.4 | 8.1 | 12.9 | 12.4 | 20.1 | 15.2 | 41.2 | 13.9 | 24.2 |
| EV / sales | 4.6 | 3.8 | 2.5 | 2.2 | 2.6 | 2.9 | 2.1 | 2.3 | 2.1 | 2.1 |
| EV / EBITDA | 18.3 | 14.7 | 9.0 | 10.8 | 11.6 | 16.3 | 13.5 | 12.5 | 13.3 | 9.5 |
| EV / free cash flow | 48.3 | 22.1 | 13.1 | 31.2 | 18.5 | 31.2 | 23.5 | 70.0 | 22.1 | 73.6 |
| Earnings yield | 2.9% | 3.4% | 7.1% | 3.0% | 6.2% | 4.3% | 2.8% | 4.7% | 4.9% | 12.2% |
| Free cash flow yield | 2.2% | 5.4% | 11.4% | 5.8% | 7.3% | 4.3% | 5.8% | 2.0% | 6.7% | 2.7% |
| Dividend yield | 0.3% | 0.4% | 0.8% | 1.1% | 0.5% | 0.4% | 0.6% | 0.4% | 0.2% | 0.3% |
| Shareholder yield (dividends + buybacks) | 0.3% | 1.0% | 1.0% | 8.6% | 5.1% | 1.6% | 0.6% | 0.5% | 0.9% | 3.2% |
| Share price at fiscal year-end | $108.40 | $60.10 | $26.32 | $21.63 | $37.78 | $44.56 | $28.60 | $27.22 | $21.13 | $12.25 |
| Per share | ||||||||||
| Revenue per share | $24.72 | $18.63 | $15.88 | $17.79 | $19.90 | $20.53 | $18.07 | $16.78 | $14.65 | $11.45 |
| Earnings per share | $3.11 | $2.06 | $1.88 | $0.64 | $2.33 | $1.94 | $0.81 | $1.28 | $1.04 | $1.49 |
| Operating cash flow per share | $3.06 | $3.46 | $3.27 | $1.68 | $3.05 | $2.21 | $1.89 | $0.66 | $1.52 | $0.51 |
| Free cash flow per share | $2.34 | $3.22 | $2.99 | $1.25 | $2.77 | $1.90 | $1.65 | $0.55 | $1.42 | $0.33 |
| Cash per share | $11.89 | $2.38 | $5.76 | $5.89 | $5.73 | $2.12 | $4.75 | $0.17 | $0.13 | $0.16 |
| Book value per share | $18.92 | $9.71 | $7.38 | $6.18 | $5.87 | $5.75 | $5.32 | $4.17 | $2.73 | $1.89 |
| Tangible book value per share | $8.23 | −$0.68 | −$3.52 | −$6.04 | −$5.29 | −$6.36 | −$4.05 | −$4.98 | −$5.52 | −$7.08 |
| Dividends per share | $0.29 | $0.25 | $0.22 | $0.24 | $0.18 | $0.19 | $0.18 | $0.12 | $0.04 | $0.04 |
| Capex per share | $0.72 | $0.24 | $0.28 | $0.43 | $0.28 | $0.31 | $0.24 | $0.11 | $0.10 | $0.18 |
| Debt per share | $16.50 | $13.49 | $18.47 | $23.29 | $19.23 | $16.90 | $14.85 | $11.13 | $10.35 | $12.11 |
| Shares outstanding | 18.7M | 19.4M | 20.5M | 18.1M | 22.4M | 19.7M | 20.0M | 19.8M | 19.5M | 18.0M |
| Change in shares outstanding | −3.3% | −5.4% | +13.4% | −19.3% | +13.4% | −1.5% | +1.1% | +1.6% | +8.3% | +7.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 21.5% | 23.5% | 29.3% | 9.6% | 42.5% | 34.7% | 17.2% | 37.2% | 46.3% | — |
| Return on invested capital (ROIC) | 18.5% | 15.8% | 11.8% | 13.6% | 16.9% | 13.7% | 7.6% | 14.0% | 14.4% | 18.9% |
| Return on assets (ROA) | 9.3% | 7.5% | 6.7% | 2.0% | 9.5% | 8.1% | 4.1% | 8.1% | 7.1% | 10.1% |
| Return on tangible assets | 10.3% | 13.6% | 11.1% | 3.3% | 14.8% | 14.9% | 6.3% | 16.0% | 16.7% | 21.8% |
| Free cash flow margin | 9.5% | 17.3% | 18.8% | 7.0% | 13.9% | 9.3% | 9.1% | 3.3% | 9.7% | 2.9% |
| Income quality (OCF / net income) | 0.99 | 1.68 | 1.74 | 2.60 | 1.31 | 1.14 | 2.33 | 0.52 | 1.47 | 0.34 |
| Financial health | ||||||||||
| Total debt | $309.0M | $261.3M | $378.0M | $420.5M | $430.5M | $333.5M | $297.5M | $220.7M | $202.0M | $218.2M |
| Cash & short-term investments | $222.8M | $46.2M | $117.9M | $106.4M | $128.3M | $41.8M | $95.2M | $3.3M | $2.6M | $2.9M |
| Net debt | $86.2M | $215.1M | $260.1M | $314.0M | $302.2M | $291.7M | $202.2M | $217.4M | $199.4M | $215.4M |
| Debt / equity | 0.87 | 1.39 | 2.50 | 3.77 | 3.28 | 2.94 | 2.79 | 2.67 | 3.79 | 6.41 |
| Debt / assets | 0.40 | 0.53 | 0.66 | 0.73 | 0.72 | 0.67 | 0.67 | 0.65 | 0.72 | 0.77 |
| Net debt / EBITDA | 0.74 | 2.29 | 2.93 | 4.83 | 3.06 | 4.05 | 3.53 | 3.58 | 4.32 | 4.70 |
| Current ratio | 5.56 | 4.42 | 2.67 | 6.23 | 6.18 | 2.89 | 3.39 | 1.75 | 2.08 | 1.90 |
| Quick ratio | 4.12 | 2.27 | 1.62 | 3.33 | 4.01 | 1.37 | 2.12 | 0.32 | 0.42 | 0.40 |
| Interest coverage | 3.8 | 6.2 | 5.5 | 4.1 | 4.4 | 4.8 | 1.9 | 3.2 | 2.9 | 1.6 |
| Working capital | $342.1M | $153.4M | $167.3M | $216.3M | $208.8M | $106.8M | $133.4M | $48.1M | $41.3M | $37.3M |
| Invested capital | $440.5M | $403.1M | $411.1M | $425.7M | $433.6M | $405.1M | $308.8M | $300.0M | $252.8M | $249.4M |
| Tangible asset value | $171.8M | −$10.8M | −$71.1M | −$107.4M | −$116.1M | −$121.6M | −$81.2M | −$98.7M | −$107.7M | −$127.5M |
| Net current asset value | $25.4M | −$104.8M | −$149.7M | −$201.1M | −$218.7M | −$215.2M | −$150.7M | −$144.9M | −$149.5M | −$172.1M |
| Graham number | $36.35 | $21.19 | $17.66 | $9.47 | $17.53 | $15.82 | $9.85 | $10.94 | $7.98 | $7.97 |
| Graham net-net per share | −$4.50 | −$9.82 | −$11.01 | −$15.85 | −$12.99 | −$14.54 | −$10.18 | −$10.38 | −$9.85 | −$11.95 |
| Capital allocation | ||||||||||
| Dividends paid | $5.5M | $4.9M | $4.5M | $4.2M | $4.1M | $3.8M | $3.5M | $2.3M | $768,000 | $768,000 |
| Share buybacks (net) | $33,000 | $6.3M | $995,000 | $29.2M | $38.7M | $10.2M | $0 | $623,000 | $2.7M | $6.2M |
| Dividend payout ratio | 9.5% | 12.3% | 11.7% | 36.5% | 7.9% | 10.0% | 21.8% | 9.2% | 3.8% | 2.9% |
| Dividends + buybacks / free cash flow | 12.7% | 17.9% | 9.0% | 148.2% | 68.9% | 37.3% | 10.7% | 27.2% | 12.7% | 118.5% |
| Capex / revenue | 2.9% | 1.3% | 1.8% | 2.4% | 1.4% | 1.5% | 1.3% | 0.7% | 0.7% | 1.6% |
| Capex / operating cash flow | 23.6% | 6.9% | 8.5% | 25.4% | 9.0% | 14.0% | 12.7% | 17.3% | 6.8% | 35.1% |
| Capex / depreciation | 1.82 | 0.82 | 1.39 | 1.45 | 1.23 | 1.22 | 1.18 | 0.73 | 0.87 | 2.50 |
| Stock-based compensation / revenue | 1.5% | 2.0% | 2.0% | 1.6% | 1.7% | 0.6% | 1.0% | 0.4% | 0.3% | 0.1% |
| R&D / revenue | — | 0.4% | 0.2% | 0.2% | 0.2% | 0.3% | 0.7% | 0.8% | 0.8% | 0.9% |
| SG&A / revenue | 36.5% | 31.5% | 31.4% | 30.5% | 27.6% | 30.0% | 28.9% | 23.7% | 22.7% | 24.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 25.9 | 27.3 | 21.1 | 8.4 | 6.5 | 7.3 | 4.8 | 3.2 | 3.5 | 5.4 |
| Days of inventory on hand | 187.5 | 230.5 | 288.4 | 264.1 | 139.1 | 133.1 | 146.6 | 148.3 | 142.3 | 183.6 |
| Days payables outstanding | 29.5 | 23.0 | 21.5 | 20.0 | 13.3 | 19.8 | 19.0 | 10.1 | 14.6 | 22.8 |
| Cash conversion cycle (days) | 184.0 | 234.8 | 287.9 | 252.6 | 132.3 | 120.6 | 132.5 | 141.4 | 131.2 | 166.2 |
| Receivables turnover | 14.09 | 13.36 | 17.32 | 43.20 | 56.29 | 49.90 | 76.02 | 113.45 | 105.28 | 67.38 |
| Payables turnover | 12.38 | 15.84 | 16.96 | 18.25 | 27.49 | 18.44 | 19.26 | 36.12 | 25.07 | 15.99 |
| Inventory turnover | 1.95 | 1.58 | 1.27 | 1.38 | 2.62 | 2.74 | 2.49 | 2.46 | 2.56 | 1.99 |
| Asset turnover | 0.74 | 0.68 | 0.57 | 0.55 | 0.81 | 0.86 | 0.92 | 1.07 | 1.01 | 0.77 |
| Average receivables | $32.9M | $27.0M | $18.8M | $7.4M | $7.9M | $8.1M | $4.8M | $2.9M | $2.7M | $3.1M |
| Average payables | $16.0M | $10.0M | $8.4M | $7.9M | $8.3M | $11.7M | $10.5M | $5.3M | $6.4M | $6.6M |
| Average inventory | $102.1M | $100.5M | $112.3M | $103.8M | $86.7M | $78.4M | $81.1M | $77.3M | $62.7M | $53.3M |
| Intangibles / total assets | 26.2% | 40.8% | 39.2% | 38.6% | 41.5% | 48.2% | 42.0% | 53.4% | 57.1% | 56.7% |
Computed from TPB's annual financial statements (latest annual report filed March 2, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TPB valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Turning Point Brands traded at 34.9 times earnings, against a 10-year median of 22.2. Based on the latest twelve months, the trailing P/E is 27.0 and the forward P/E is 38.2. Turning Point Brands earned a return on equity of 21.5% and a return on invested capital of 18.5% in fiscal 2025. It ended the year with $309.0 million of debt and $222.8 million in cash and short-term investments, net debt of $86.2 million. It returned $5.6 million to shareholders: $5.5 million in dividends and $0.0 million in share buybacks, 13% of free cash flow. The share count rose 4.0% from 18.0M to 18.7M over 9 years.
See the TPB income statement, the TPB chart for price history, or the TPB stock overview for the latest quote and news.
TPB key metrics FAQ
What is Turning Point Brands's P/E ratio?
Turning Point Brands's trailing P/E ratio is 27.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 38.2. At the end of fiscal 2025 it was 34.9, compared with a 10-year median of 22.2.
What is Turning Point Brands's EV/EBITDA?
Turning Point Brands's enterprise value was 18.3 times EBITDA at the end of fiscal 2025 (enterprise value $2.1 billion, EBITDA $115.9 million); the current EV/EBITDA is 12.3.
What is Turning Point Brands's return on equity?
Turning Point Brands's return on equity (ROE) was 21.5% in fiscal 2025: net income of $58.2 million on average shareholders' equity of $271.1 million.
What is Turning Point Brands's ROIC?
Turning Point Brands's return on invested capital was 18.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Turning Point Brands have?
Turning Point Brands had total debt of $309.0 million at the end of fiscal 2025, a debt-to-equity ratio of 0.87 and $86.2 million of net debt (0.74 times EBITDA).
What is Turning Point Brands's dividend yield?
Turning Point Brands's forward dividend yield is 0.51%. Turning Point Brands paid $5.5 million in dividends in fiscal 2025 ($0.29 per share), a payout ratio of 9.5%.
Does Turning Point Brands buy back its shares?
Yes. Turning Point Brands spent $0.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −3.3% over the year, to 18.7M..
What is Turning Point Brands's free cash flow yield?
Turning Point Brands generated $43.8 million of free cash flow in fiscal 2025, a free cash flow yield of 2.2% on its market value at year-end ($2.0 billion).
What is Turning Point Brands's current ratio?
Turning Point Brands's current ratio was 5.56 at the end of fiscal 2025: current assets were 5.56 times current liabilities.