Turning Point Brands Inc (TPB) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Turning Point Brands Inc stock $45.98, price $65.88, that is 30.2% below the price, quality 54 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range $19.01 – $142.54 · fair‑value band $30.79 – $62.44 · the $65.88 price screens above the $45.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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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.
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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.
Stock analysis
Turning Point Brands Inc (TPB) currently trades at $65.88, while our model-based Fair Value estimate is $45.98, 30% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $51.61 per share, and 2 of the 26 models we run sit above the $65.88 price.
Bear case: the Earnings-Based group reads lowest at $28.36, and 24 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $30.79 (bear) to $62.44 (bull), the price of $65.88 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Turning Point Brands Inc reported revenue of $463M in FY2025 versus $445M in FY2021, a compound +1.0%/yr. Reported net income was $58.2M in FY2025, compounding +2.8%/yr from FY2021.
Key figures
Market cap $1.3B Small · P/E ratio 28.4 · P/S ratio 2.62 · EPS (TTM) $2.32 · Dividend yield 0.5% · Net margin 8.8% · Return on equity 17.6% · Return on assets (EBIT) 14.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 54% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 10% fair-value upside, at −30%, TPB screens richer than that median.
Fair Value models
Bear$30.79Fair Value $45.98Bull$62.44
Price $65.88 · Downside -30.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.72 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
SaleAndrew FlynnChief Financial Officer2,000 shares at $97.57$195,140Mar 4, 2026
SaleDavid Edward GlazekExecutive Chairman, Director30,000 shares at $110.26$3.3MDec 19, 2025
SaleH.C. Charles DiaoDirector2,000 shares at $108.20$216,400Dec 15, 2025
SaleGregory H.A. BaxterDirector1,500 shares at $98.23$147,345Nov 21, 2025
SaleStephen UsherDirector2,000 shares at $101.77$203,540Nov 20, 2025
SaleBrittani CushmanSr VP, General Counsel15,250 shares at $101.66$1.6MNov 19, 2025
SaleLawrence WexlerDirector46,470 shares at $99.76$4.6MNov 13, 2025
Plus 8 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+28.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.7%
Start year 2020 (pandemic). Over 10 years: +8.9% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+12.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.9%
Dividend (yield on the price)0.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.9.9% vs 9.6%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.16% → 21%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+23.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+13.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +20.1% a year for the price and +10.3% for the forecasts.
Compare Turning Point Brands Inc with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Tobacco · 29 stocks
Beats the industry median on 4/15 measures
Overall it trails its industry peers.
Valuation
Quality Score54 · Bottom 25%
Fair Value upside−30.2% · Bottom 25%
Profitability
Return on equity (12 months)17.6% · Above median
Return on assets7.6% · Above median
Net margin (12 months)8.8% · Below median
Operating margin (12 months)4.2% · Below median
Growth and dividend
Revenue growth (quarter YoY)22.6% · Top 25%
Dividend yield (12 months)0.5% · Bottom 25%
Balance sheet
Debt / equity0.83× · Highest 25%
Valuation Multiplesvs Tobacco median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Turning Point Brands Inc Fair Value". https://www.fairvalue-calculator.com/stock/TPB
Frequently asked questions
Is Turning Point Brands Inc (TPB) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of $45.98 versus a price of $65.88, about 30% lower (overvalued).
What is the fair value of TPB?
Our model-based fair value for Turning Point Brands Inc is $45.98 (as of Nov 5, 2026), built from audited fundamentals. The current price: $65.88.
What is the quality score of TPB?
Turning Point Brands Inc has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Turning Point Brands Inc (TPB)?
Our model-based price target is the fair value of $45.98 (as of Nov 5, 2026) from 26 valuation models. Cautious scenario $30.79, optimistic scenario $62.44. It is a calculation from audited fundamentals, not an analyst target.
What is the Turning Point Brands Inc stock forecast for 2026?
Our models put fair value at $45.98, about 30% lower versus a price of $65.88 (overvalued). Cautious scenario $30.79, optimistic scenario $62.44. The calculation is refreshed regularly with new filings.
What is the revenue of Turning Point Brands Inc (TPB)?
Turning Point Brands Inc reported trailing-twelve-month revenue of about $507M (latest available figure, as of Nov 5, 2026).
Does Turning Point Brands Inc pay a dividend?
Turning Point Brands Inc currently shows a dividend yield of 0.47% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Turning Point Brands Inc (TPB) and when is the ex-dividend date?
Turning Point Brands Inc pays a dividend of $0.31 per share a year, a dividend yield of 0.5%. The last ex-dividend date was Sep 18, 2026. A dividend has been paid every year since at least 2017. The payout ratio is 14.1% of earnings (on adjusted earnings, reported 13.4%). Free cash flow covers the dividend 7.05 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Turning Point Brands Inc (TPB)?
For today's price to be fair in a discounted-cash-flow model, Turning Point Brands Inc would have to grow free cash flow by +23.0 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.7 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of TPB use?
Our models discount Turning Point Brands Inc at 11.2 %: a base by market capitalisation (small), damped by beta 0.97, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Turning Point Brands Inc that is +23.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Turning Point Brands Inc (TPB) delivered so far?
Over the past 5 years revenue at Turning Point Brands Inc grew +2.7 % a year. The price currently implies free-cash-flow growth of +23.0 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Turning Point Brands Inc (TPB) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Turning Point Brands Inc (+23.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Turning Point Brands Inc (TPB)?
The free-cash-flow yield on the price is 3.30 %: that much free cash flow Turning Point Brands Inc produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Turning Point Brands Inc (TPB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Turning Point Brands Inc it is $45.98 per share (as of Nov 5, 2026), against a price of $65.88. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Turning Point Brands Inc stock overvalued or undervalued in 2026?
As of Nov 5, 2026, TPB trades above its calculated fair value: price $65.88, fair value $45.98, a gap of about −30% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TPB?
No. The price is what the market pays today ($65.88); the fair value is what the company's own numbers justify ($45.98). For Turning Point Brands Inc the two are $19.90 per share apart. That gap is exactly why we show both numbers side by side.
How much is Turning Point Brands Inc worth?
The market values Turning Point Brands Inc at about $1.3B (market capitalisation, as of Nov 5, 2026). Per share that is $65.88; our models calculate a fair value of $45.98 per share.
What do the bullish and bearish scenarios say about TPB?
Our models span a range for Turning Point Brands Inc: cautious scenario $30.79, base $45.98, optimistic $62.44 per share (as of Nov 5, 2026, price $65.88). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TPB?
Turning Point Brands Inc trades at a price-to-earnings ratio of 28.4 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $45.98 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 22.4 (reported for FY2025: 21.2). Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 6 of the years ex one-offs: 22.8. Other multiples: PEG 0.0, P/B 3.8, P/S 2.6, EV/EBITDA 18.6.
What is the PEG ratio of TPB?
The PEG ratio of Turning Point Brands Inc is 0.05 (P/E divided by earnings growth, as of Nov 5, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Turning Point Brands Inc (TPB)?
Balance-sheet figures for Turning Point Brands Inc (as of Nov 5, 2026): return on equity 17.6%, debt of 0.83 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is TPB from its 52-week high?
Turning Point Brands Inc trades at $65.88, about 54% below its 52-week high of $142.54 and 19% above the low of $55.25 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $45.98 is for.
Which stocks are comparable to Turning Point Brands Inc?
From the same area (Consumer Defensive) we also value Philip Morris International Inc, Altria Group, British American Tobacco p.l.c., KT&G Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Turning Point Brands Inc stock attractive at the current price?
The data as of Nov 5, 2026: price $65.88, calculated fair value $45.98 (−30%), Quality Score 54/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TPB calculated?
We run Turning Point Brands Inc through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $45.98 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Turning Point Brands Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Turning Point Brands Inc (TPB)?
The closing price on Nov 6, 2026 was $65.88. Our model-based fair value is $45.98, about 30% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Turning Point Brands Inc right now?
The price sits above even our optimistic bull case ($62.44). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($30.79 to $62.44) leaves room in how you read the outcome.
Key figures of Turning Point Brands Inc
How large is the market capitalisation of Turning Point Brands Inc (TPB)?
The market capitalisation of Turning Point Brands Inc is $1.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Turning Point Brands Inc (TPB)?
The price-to-sales ratio of Turning Point Brands Inc is 2.62 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Turning Point Brands Inc (TPB)?
Earnings per share at Turning Point Brands Inc are $2.32 (price ÷ EPS = P/E 28.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Turning Point Brands Inc (TPB)?
The dividend yield of Turning Point Brands Inc is 0.5% (payout 14.1%, on adjusted earnings, reported 13.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Turning Point Brands Inc (TPB)?
The net margin of Turning Point Brands Inc is 8.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Turning Point Brands Inc (TPB)?
The return on equity (ROE) of Turning Point Brands Inc is 17.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Turning Point Brands Inc (TPB)?
On an EBIT basis the return on assets of Turning Point Brands Inc is 14.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Turning Point Brands Inc (TPB)?
The operating margin of Turning Point Brands Inc is 4.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Turning Point Brands Inc (TPB)?
Revenue at Turning Point Brands Inc is growing +22.6% versus a year earlier (3y avg +13.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Turning Point Brands Inc (TPB)?
Earnings per share at Turning Point Brands Inc are growing −77.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Turning Point Brands Inc (TPB) carry?
The net debt of Turning Point Brands Inc is $86.2M (fiscal year 2025, ≈ 2.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 5, 2026