TPB on NYSE
Turning Point Brands
American manufacturer and distributor of tobacco and nicotine products.1
Price unavailable
Last updated Oct 18, 2026.
Overview
1988Founded1
Compare with Healthier Choices Management Corp., or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
57.1%Gross margin4
20.6%Operating margin4
12.6%Net margin4
28.4%Revenue growth, 20254
15.6%Return on equity4
0.79×Debt to equity4
$43.8MFree cash flow4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Stokers Products brought in 61% of the revenue Turning Point Brands broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Stokers Products | $144.6M | $168.3M | $284.6M |
| Zig Zag Products | $180.5M | $192.4M | $178.5M |
Regions
United States brought in 92% of the revenue Turning Point Brands broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $294.3M | $330.7M | $427.4M |
| Outside the United States | $30.8M | $30.0M | $35.7M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue43¢$198.7M
- Research and development0¢$900.0K
- Selling, general and admin36¢$169.0M
- Other costs5¢$21.3M
- Income tax3¢$15.0M
- Profit13¢$58.2M
Out of $463.1M in revenue.4
Where each dollar of operating cash went, fiscal 2025
- Capital spending24¢$13.5M
- Dividends paid10¢$5.5M
- Kept or used elsewhere67¢$38.3M
Out of $57.4M of cash from operations.4
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net sales | $463.1M | $360.7M | $325.1M |
| Cost of sales | $198.7M | $159.1M | $142.1M |
| Gross profit | $264.3M | $201.6M | $182.9M |
| Selling, general, and administrative expenses | $169.0M | $122.4M | $104.3M |
| Other operating income | $0 | -$1.7M | -$4.3M |
| Operating income | $95.3M | $80.8M | $83.0M |
| Other income, net | -$6.6M | $0 | -$4.0M |
| Interest expense, net | $17.5M | $14.0M | $14.6M |
| Investment (gain) loss | -$1.1M | $2.0M | $9.6M |
| Loss (gain) from equity method investments | $1.2M | -$75.0K | $2.3M |
| Loss (gain) on extinguishment of debt | $1.2M | $0 | -$1.7M |
| Income from continuing operations before income taxes | $83.1M | $65.0M | $62.1M |
| Income tax expense | $15.0M | $16.9M | $24.0M |
| Income from continuing operations | $68.2M | $48.0M | $38.1M |
| Loss from discontinued operations, net of tax | $0 | -$7.5M | -$285.0K |
| Consolidated net income | $68.2M | $40.5M | $37.8M |
| Net income (loss) attributable to non-controlling interest | $10.0M | $701.0K | -$681.0K |
| Net income attributable to Turning Point Brands, Inc. | $58.2M | $39.8M | $38.5M |
| Continuing operations (in dollars per share) | $3 | $3 | $2 |
| Discontinued operations (in dollars per share) | $0 | -$0 | -$0 |
| Basic earnings per share (in dollars per share) | $3.18 | $2.24 | $2.19 |
| Continuing operations (in dollars per share) | $3 | $3 | $2 |
| Discontinued operations (in dollars per share) | $0 | -$0 | -$0 |
| Diluted earnings per share (in dollars per share) | $3.11 | $2.14 | $2.01 |
| Basic (in shares) | 18.3M shares | 17.7M shares | 17.6M shares |
| Diluted (in shares) | 18.7M shares | 19.4M shares | 20.5M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash | $222.8M | $46.2M | ||
| Accounts receivable | $25.7M | $9.6M | ||
| Inventories, net | $108.0M | $96.3M | ||
| Current assets held for sale | $0 | $11.5M | ||
| Other current assets | $60.7M | $34.7M | ||
| Total current assets | $417.1M | $198.2M | ||
| Property, plant, and equipment, net | $36.2M | $26.3M | ||
| Deferred income tax assets, net | $0 | $995.0K | ||
| Operating and Finance Lease, Right-of-Use Asset | $14.5M | $11.6M | ||
| Deferred financing costs, net | $1.2M | $1.8M | ||
| Goodwill | $136.1M | $135.9M | $136.2M | |
| Other intangible assets, net | $64.0M | $65.3M | ||
| Master Settlement Agreement (MSA) escrow deposits | $29.9M | $28.7M | ||
| Noncurrent assets held for sale | $0 | $3.9M | ||
| Other assets | $64.7M | $20.7M | ||
| Total assets | $763.8M | $493.4M | ||
| Accounts payable | $20.4M | $11.7M | ||
| Accrued Liabilities, Current | $54.6M | $31.1M | ||
| Current liabilities held for sale | $0 | $2.0M | ||
| Total current liabilities | $75.0M | $44.8M | ||
| Deferred income tax liabilities, net | $8.3M | $0 | ||
| Notes payable and long-term debt | $293.6M | $248.6M | ||
| Other long-term liabilities | $4.1M | $0 | ||
| Operating and Finance Lease, Liability, Noncurrent | $10.7M | $9.5M | ||
| Total liabilities | $391.8M | $303.0M | ||
| Preferred Stock | $0 | $0 | ||
| Additional paid-in capital | $203.6M | $126.7M | ||
| Cost of repurchased common stock | -$47.6M | -$83.1M | ||
| Accumulated other comprehensive loss | -$1.6M | -$2.9M | ||
| Accumulated earnings | $199.7M | $147.2M | ||
| Non-controlling interest | $17.7M | $2.4M | ||
| Total stockholders equity | $372.0M | $190.4M | $152.0M | $113.4M |
| Total liabilities and stockholders equity | $763.8M | $493.4M | ||
| Allowance for doubtful accounts | $206.0K | $66.0K | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 40.0M shares | 40.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Treasury stock, shares repurchased (in shares) | 1.5M shares | 2.5M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash | $222.8M | $46.2M | ||
| Accounts receivable | $25.7M | $9.6M | ||
| Inventories, net | $108.0M | $96.3M | ||
| Current assets held for sale | $0 | $11.5M | ||
| Other current assets | $60.7M | $34.7M | ||
| Total current assets | $417.1M | $198.2M | ||
| Property, plant, and equipment, net | $36.2M | $26.3M | ||
| Deferred income tax assets, net | $0 | $995.0K | ||
| Operating and Finance Lease, Right-of-Use Asset | $14.5M | $11.6M | ||
| Deferred financing costs, net | $1.2M | $1.8M | ||
| Goodwill | $136.1M | $135.9M | $136.2M | |
| Other intangible assets, net | $64.0M | $65.3M | ||
| Master Settlement Agreement (MSA) escrow deposits | $29.9M | $28.7M | ||
| Noncurrent assets held for sale | $0 | $3.9M | ||
| Other assets | $64.7M | $20.7M | ||
| Total assets | $763.8M | $493.4M | ||
| Accounts payable | $20.4M | $11.7M | ||
| Accrued Liabilities, Current | $54.6M | $31.1M | ||
| Current liabilities held for sale | $0 | $2.0M | ||
| Total current liabilities | $75.0M | $44.8M | ||
| Deferred income tax liabilities, net | $8.3M | $0 | ||
| Notes payable and long-term debt | $293.6M | $248.6M | ||
| Other long-term liabilities | $4.1M | $0 | ||
| Operating and Finance Lease, Liability, Noncurrent | $10.7M | $9.5M | ||
| Total liabilities | $391.8M | $303.0M | ||
| Preferred Stock | $0 | $0 | ||
| Additional paid-in capital | $203.6M | $126.7M | ||
| Cost of repurchased common stock | -$47.6M | -$83.1M | ||
| Accumulated other comprehensive loss | -$1.6M | -$2.9M | ||
| Accumulated earnings | $199.7M | $147.2M | ||
| Non-controlling interest | $17.7M | $2.4M | ||
| Total stockholders equity | $372.0M | $190.4M | $152.0M | $113.4M |
| Total liabilities and stockholders equity | $763.8M | $493.4M | ||
| Allowance for doubtful accounts | $206.0K | $66.0K | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 40.0M shares | 40.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Treasury stock, shares repurchased (in shares) | 1.5M shares | 2.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Consolidated net income | $68.2M | $40.5M | $37.8M |
| Loss from discontinued operations, net of tax | $0 | $7.5M | $285.0K |
| Loss (gain) on extinguishment of debt | $1.2M | $0 | -$1.7M |
| Loss on sale of property, plant, and equipment | $106.0K | $75.0K | $62.0K |
| Gain on insurance recovery of inventory loss | $0 | $0 | -$15.2M |
| Loss (gain) from equity method investments | $1.2M | -$75.0K | $2.3M |
| (Gain) Loss on investments | -$484.0K | $2.8M | $9.9M |
| Depreciation and other amortization expense | $6.2M | $4.4M | $2.9M |
| Amortization of other intangible assets | $1.2M | $1.2M | $1.2M |
| Amortization of deferred financing costs | $1.7M | $2.4M | $2.4M |
| Deferred income tax expense | $8.9M | $519.0K | $7.0M |
| Stock compensation expense | $7.0M | $7.2M | $6.6M |
| Noncash lease income | -$1.8M | -$622.0K | -$72.0K |
| Gain on MSA investments | $0 | -$14.0K | $0 |
| Accounts receivable | -$16.1M | $185.0K | -$2.6M |
| Inventories | -$11.6M | -$4.8M | $13.3M |
| Other current assets | -$25.4M | -$1.4M | -$3.8M |
| Other assets | -$4.8M | -$1.8M | -$4.9M |
| Accounts payable | $8.6M | $3.7M | $100.0K |
| Accrued liabilities and other | $13.3M | -$1.0M | $601.0K |
| Operating cash flows from continuing operations | $57.4M | $61.0M | $56.2M |
| Operating cash flows from discontinued operations | $0 | $6.1M | $10.6M |
| Net cash provided by operating activities | $57.4M | $67.1M | $66.9M |
| Capital expenditures | -$13.5M | -$4.6M | -$5.7M |
| Purchases of investments | -$13.8M | -$10.9M | -$202.0K |
| Proceeds from sale of investments | $6.4M | $5.4M | $0 |
| Purchase of options agreement | -$8.0M | $0 | $0 |
| Purchases of non-marketable equity investments | -$2.8M | -$500.0K | $0 |
| Proceeds on sale of property, plant and equipment | $0 | $5.0K | $3.0K |
| MSA escrow deposits, net | $33.0K | $46.0K | $0 |
| Investing cash flows from continuing operations | -$31.7M | -$10.5M | -$5.9M |
| Investing cash flows from discontinued operations | $0 | $0 | $0 |
| Net cash used in investing activities | -$31.7M | -$10.5M | -$5.9M |
| Convertible Senior Notes repurchased | $0 | -$118.5M | -$41.8M |
| Payment of 2026 Senior Notes | -$250.0M | $0 | $0 |
| Proceeds from 2032 Notes | $300.0M | $0 | $0 |
| At the market offering proceeds | $97.5M | $0 | $0 |
| Interchange subscription agreement | $11.0M | $0 | $0 |
| Proceeds from call options | $0 | $0 | $114.0K |
| Payment of dividends | -$5.5M | -$4.9M | -$4.5M |
| Payments of financing costs | -$7.3M | -$133.0K | -$2.4M |
| Exercise of options | $7.6M | $2.8M | $450.0K |
| Redemption of options | -$33.0K | -$335.0K | -$346.0K |
| Redemption of restricted stock units | -$2.3M | -$914.0K | -$995.0K |
| Issuance of restricted stock units | $1.0K | $0 | $0 |
| Redemption of performance based restricted stock units | -$2.6M | -$1.2M | $0 |
| Issuance of performance based restricted stock units | $0 | $0 | $0 |
| Common stock repurchased | $0 | -$5.1M | $0 |
| Financing cash flows from continuing operations | $148.3M | -$128.3M | -$49.5M |
| Financing cash flows from discontinued operations | $0 | $0 | $0 |
| Net cash provided by (used in) financing activities | $148.3M | -$128.3M | -$49.5M |
| Net increase (decrease) in cash | $174.0M | -$71.7M | $11.5M |
| Effect of foreign currency translation on cash | -$205.0K | -$182.0K | $13.0K |
| Cash paid during the period for interest | $20.5M | $17.5M | $18.0M |
| Cash paid during the period for income taxes, net | $10.4M | $21.0M | $12.4M |
| Accrued capital expenditures | $0 | $18.0K | $8.0K |
| Accrued consideration for acquisition of investments | $0 | $0 | $248.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led Turning Point Brands, and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
19901995200020052010201520202025
- Chief executive officerGraham Purdy Feb 14, 2023 to now13
- Chief executive officerYavor Efremov Mar 16, 2022 to Aug 2, 202214
- Chief executive officerLawrence Wexler May 10, 2016 to Oct 29, 202115
- ChairDavid Edward Glazek May 9, 2023 to now16
- PresidentGraham Purdy Feb 14, 2023 to now13
- PresidentYavor Efremov Mar 16, 2022 to Aug 2, 202214
- PresidentLawrence Wexler May 18, 2017 to Oct 29, 202117
- Chief financial officerAndrew Flynn Apr 3, 2024 to now18
- Chief financial officerLuis Reformina May 4, 2021 to Mar 5, 202419
- Chief financial officerRobert M. Lavan Mar 15, 2018 to Feb 22, 202120
- Chief financial officerMark Stegeman May 10, 2016 to May 18, 201721
- Chief operating officerGraham Purdy Nov 25, 2019 to May 3, 202222
Board members and other officers (22)
- Chief Strategy OfficerPlano Lorenzo De Mar 13, 2024 to now23
- Chief Revenue OfficerSummer Frein Apr 3, 2024 to now24
- VP & Chief Accounting OfficerBrian Wigginton Mar 21, 2018 to now25
- GC, Secretary, Sr. VPJames Wells Dobbins May 10, 2016 to Mar 20, 202026
- OfficerSoohyung Kim May 10, 2016 to Aug 5, 202127
- Board memberKathleen M. Shanahan May 8, 2025 to now28
- Board memberRohith Reddy May 5, 2023 to now29
- Board memberGraham Purdy May 15, 2023 to now30
- Board memberAssia Grazioli-Venier Apr 1, 2021 to May 3, 202331
- Board memberStephen Usher Apr 1, 2021 to now32
- Board memberYavor Efremov Jul 13, 2021 to Aug 2, 202233
- Board memberPeggy Hwan Hebard Oct 4, 2018 to Oct 4, 201834
- Board memberAshley Davis Frushone Oct 5, 2018 to now35
- Board memberDavid Edward Glazek May 10, 2016 to Mar 17, 202236
- Board memberGeorge Hebard May 10, 2016 to May 18, 201737
- Board memberGregory H.a. Baxter May 10, 2016 to now38
- Board memberH.c. Charles Diao May 10, 2016 to now39
- Board memberLawrence Wexler May 10, 2016 to now15
- Board memberSoohyung Kim May 10, 2016 to Mar 17, 202227
- Board memberThomas F. Helms Jr. May 10, 2016 to Sep 12, 201840
- Board memberZimmerman Arnold May 10, 2016 to May 10, 202341
- General counselBrittani Cushman Nov 10, 2020 to now42
Products and brands
- nicotine pouch
- rolling paper
Listed on Wikidata.1
Subsidiaries and ownership
Also owns
From Wikidata.1
Former names
- North Atlantic Holding Company, Inc.May 18, 2004 to Sep 25, 20153
Timeline
Filings
300 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 41 major events, 160 insider forms, 35 large holders, 44 other. The latest 20:
- Sep 21, 20268-K EDGAR
- Aug 4, 202610-Q EDGAR
- Aug 4, 20268-K EDGAR
- Jul 30, 2026SCHEDULE 13G EDGAR
- May 15, 2026SCHEDULE 13G EDGAR
- May 13, 20264 EDGAR
- May 13, 20264 EDGAR
- May 13, 20264 EDGAR
- May 13, 20264 EDGAR
- May 13, 20264 EDGAR
- May 13, 20264 EDGAR
- May 13, 20264 EDGAR
- May 13, 20264 EDGAR
- May 13, 20264 EDGAR
- May 8, 202610-Q EDGAR
- May 7, 20268-K EDGAR
- May 5, 20268-K EDGAR
- Apr 20, 2026SCHEDULE 13G/A EDGAR
- Mar 27, 2026SCHEDULE 13G/A EDGAR
- Mar 26, 20264 EDGAR
The 300 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 35 such filings since October 2021, the latest 10:
- Jul 30, 2026SCHEDULE 13G
- May 15, 2026SCHEDULE 13G
- Apr 20, 2026SCHEDULE 13G/A
- Mar 27, 2026SCHEDULE 13G/A
- Feb 13, 2026SCHEDULE 13G/A
- Feb 12, 2026SCHEDULE 13G/A
- Nov 4, 2025SCHEDULE 13G/A
- Oct 8, 2025SCHEDULE 13G/A
- Jul 1, 2025SCHEDULE 13G
- Feb 3, 2025SCHEDULE 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Links
- Websitewww.turningpointbrands.com1
- LinkedInwww.linkedin.com/company/turning-point-brands-inc.1
- WikidataQ140577359
- SEC EDGARCIK 1290677
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataTurning Point Brands on Wikidata
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- 16SEC EDGARDavid Edward Glazek, Chair
- 17SEC EDGARLawrence Wexler, President
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- 24SEC EDGARSummer Frein, Chief Revenue Officer
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- 27SEC EDGARSoohyung Kim, Officer
- 28SEC EDGARKathleen M. Shanahan, Board member
- 29SEC EDGARRohith Reddy, Board member
- 30SEC EDGARGraham Purdy, Board member
- 31SEC EDGARAssia Grazioli-Venier, Board member
- 32SEC EDGARStephen Usher, Board member
- 33SEC EDGARYavor Efremov, Board member
- 34SEC EDGARPeggy Hwan Hebard, Board member
- 35SEC EDGARAshley Davis Frushone, Board member
- 36SEC EDGARDavid Edward Glazek, Board member
- 37SEC EDGARGeorge Hebard, Board member
- 38SEC EDGARGregory H.a. Baxter, Board member
- 39SEC EDGARH.c. Charles Diao, Board member
- 40SEC EDGARThomas F. Helms Jr., Board member
- 41SEC EDGARZimmerman Arnold, Board member
- 42SEC EDGARBrittani Cushman, General counsel