Cash flow Turning Point Brands, Inc.

Equities

TPB

US90041L1052

Tobacco

Market Closed - Nyse Other stock markets 04:00:02 2025-01-17 pm EST			5-day change	1st Jan Change
57.58 ^USD	+1.98%		+4.52%	-4.19%

Dec. 13	Turning Point Shares After $100 Million Share Offering Announced	MT
Nov. 14	Oppenheimer Initiates Turning Point Brands at Outperform With $65 Price Target	MT

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Published financial data: TURNING POINT BRANDS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	362M	405M	445M	415M	405M
Total Revenues	362M	405M	445M	415M	405M
Cost of Goods Sold, Total	202M	215M	228M	209M	202M
Gross Profit	160M	190M	218M	206M	203M
Selling General & Admin Expenses, Total	104M	122M	124M	125M	123M
R&D Expenses	2.5M	1.3M	1.1M	600K	600K
Other Operating Expenses	-	-	-	-	-4.34M
Other Operating Expenses, Total	106M	123M	125M	126M	119M
Operating Income	53.42M	66.69M	92.39M	79.76M	84.31M
Interest Expense, Total	-17.34M	-20.23M	-20.5M	-19.52M	-15.81M
Interest And Investment Income	2.65M	198K	-	-	-
Net Interest Expenses	-14.69M	-20.03M	-20.5M	-19.52M	-15.81M
EBT, Excl. Unusual Items	38.73M	46.66M	71.89M	60.24M	68.5M
Restructuring Charges	-26.2M	-	-800K	-3.44M	-400K
Merger & Related Restructuring Charges	-	-3.09M	-1.27M	-801K	-165K
Impairment of Goodwill	-	-	-	-25.58M	-
Gain (Loss) On Sale Of Investments	-	-	-6.67M	-13.3M	-11.91M
Asset Writedown	-	-	-	-1.98M	-
Insurance Settlements	-	-	-	-	15.2M
Legal Settlements	5.5M	-	-	-	4M
Other Unusual Items	-2.21M	-517K	2.15M	885K	-13.54M
EBT, Incl. Unusual Items	15.82M	43.06M	65.3M	16.01M	61.68M
Income Tax Expense	2.04M	10.02M	14.04M	4.85M	23.9M
Earnings From Continuing Operations	13.77M	33.04M	51.26M	11.16M	37.78M
Net Income to Company	13.77M	33.04M	51.26M	11.16M	37.78M
Minority Interest	-	-	797K	484K	681K
Net Income - (IS)	13.77M	33.04M	52.06M	11.64M	38.46M
Net Income to Common Incl Extra Items	13.77M	33.04M	52.06M	11.64M	38.46M
Net Income to Common Excl. Extra Items	13.77M	33.04M	52.06M	11.64M	38.46M
Per Share Items
Net EPS - Basic	0.7	1.7	2.75	0.65	2.19
Basic EPS - Continuing Operations	0.7	1.7	2.75	0.65	2.19
Basic Weighted Average Shares Outstanding	19.63M	19.4M	18.92M	17.9M	17.58M
Net EPS - Diluted	0.69	1.67	2.52	0.64	2.01
Diluted EPS - Continuing Operations	0.69	1.67	2.52	0.64	2.01
Diluted Weighted Average Shares Outstanding	20.04M	19.73M	22.38M	18.06M	20.47M
Normalized Basic EPS	1.23	1.5	2.42	2.13	2.47
Normalized Diluted EPS	1.21	1.48	2.04	2.11	2.12
Dividend Per Share	0.18	0.2	0.22	0.24	0.26
Payout Ratio	25.64	11.51	7.87	36.51	11.69
Supplemental Items
EBITDA	57.51M	71.71M	97.4M	85.06M	90.66M
EBITA	54.87M	68.47M	94.3M	81.67M	87.4M
EBIT	53.42M	66.69M	92.39M	79.76M	84.31M
EBITDAR	61.86M	75.61M	102M	89.56M	94.37M
Effective Tax Rate - (Ratio)	12.92	23.26	21.5	30.29	38.75
Current Domestic Taxes	6.26M	7.22M	15.52M	11.27M	16.89M
Current Foreign Taxes	-	-	-	83K	-16K
Total Current Taxes	6.26M	7.22M	15.52M	11.36M	16.88M
Deferred Domestic Taxes	-4.22M	2.8M	-1.22M	-6M	6.26M
Deferred Foreign Taxes	-	-	-265K	-502K	767K
Total Deferred Taxes	-4.22M	2.8M	-1.48M	-6.51M	7.02M
Normalized Net Income	24.2M	29.16M	45.73M	38.13M	43.49M
Interest on Long-Term Debt	-	-	-	-	-
Non-Cash Pension Expense	22K	1.12M	-	-	-
Supplemental Operating Expense Items
Advertising Expense	12M	5.2M	12.1M	9.3M	9.2M
Selling and Marketing Expenses	18.1M	22.8M	27.6M	24.2M	23.5M
Research And Development Expense From Footnotes	2.5M	1.3M	1.1M	600K	600K
Net Rental Expense, Total	4.35M	3.91M	5.08M	4.5M	3.7M
Imputed Operating Lease Interest Expense	2.31M	2.06M	2.17M	1.65M	1.17M
Imputed Operating Lease Depreciation	2.03M	1.84M	2.91M	2.85M	2.53M
Stock-Based Comp., SG&A Exp. (Total)	-	2.55M	7.56M	5.27M	6.56M
Stock-Based Comp., Other (Total)	3.63M	-	-	-	-
Total Stock-Based Compensation	3.63M	2.55M	7.56M	5.27M	6.56M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	95.25M	41.76M	128M	106M	118M
Total Cash And Short Term Investments	95.25M	41.76M	128M	106M	118M
Accounts Receivable, Total	6.91M	9.33M	6.5M	8.38M	9.99M
Other Receivables	-	-	-	-	19.18M
Total Receivables	6.91M	9.33M	6.5M	8.38M	29.17M
Inventory	74.99M	86.86M	99.7M	126M	105M
Prepaid Expenses	3.67M	813K	-	448K	153K
Other Current Assets, Total	8.43M	18.52M	14.66M	16.12M	15.74M
Total Current Assets	189M	157M	249M	258M	268M
Gross Property Plant And Equipment	40.39M	50.03M	52.54M	56.08M	59.04M
Accumulated Depreciation	-14.45M	-16.59M	-18.84M	-20.83M	-22.26M
Net Property Plant And Equipment	25.95M	33.44M	33.7M	35.25M	36.78M
Long-term Investments	5.42M	24.02M	33.65M	21.2M	9.16M
Goodwill	154M	160M	162M	136M	136M
Other Intangibles, Total	33.47M	79.42M	87.48M	83.59M	86.86M
Deferred Tax Assets Long-Term	-	-	1.36M	8.44M	1.47M
Deferred Charges Long-Term	890K	641K	388K	282K	2.45M
Other Long-Term Assets, Total	37.33M	34.89M	33.47M	29.43M	28.77M
Total Assets	447M	489M	602M	572M	569M
Liabilities
Accounts Payable, Total	14.13M	9.2M	7.36M	8.36M	8.41M
Accrued Expenses, Total	17.44M	22.41M	21.41M	20.74M	21.9M
Current Portion of Long-Term Debt	15.24M	12M	-	-	58.29M
Current Portion of Leases	2.22M	3.23M	2.98M	3.1M	2.68M
Current Income Taxes Payable	705K	4.33M	2.05M	1.87M	3.82M
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	6.16M	5.46M	6.54M	7.31M	5.24M
Total Current Liabilities	55.89M	56.63M	40.34M	41.38M	100M
Long-Term Debt	271M	282M	414M	407M	307M
Long-Term Leases	11.07M	16.12M	13.34M	10.59M	9.95M
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	1.57M	4.08M	-	-	-
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	340M	358M	468M	459M	417M
Common Stock, Total	197K	195K	197K	198K	199K
Additional Paid In Capital	125M	127M	109M	113M	119M
Retained Earnings	-15.31M	12.06M	71.46M	78.69M	112M
Treasury Stock	-	-10.19M	-48.87M	-78.09M	-78.09M
Comprehensive Income and Other	-3.77M	-2.64M	-195K	-2.39M	-2.65M
Total Common Equity	107M	127M	131M	112M	151M
Minority Interest	-	4.05M	2.31M	1.74M	1.03M
Total Equity	107M	131M	134M	113M	152M
Total Liabilities And Equity	447M	489M	602M	572M	569M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	19.72M	19.1M	18.27M	17.56M	17.62M
ECS Total Common Shares Outstanding	19.68M	19.13M	18.4M	17.49M	17.61M
Book Value / Share	5.42	6.63	7.14	6.39	8.58
Tangible Book Value	-81.17M	-112M	-118M	-108M	-72.14M
Tangible Book Value Per Share	-4.12	-5.87	-6.44	-6.19	-4.1
Total Debt	300M	313M	430M	420M	378M
Net Debt	205M	271M	302M	314M	260M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-1.69M	-	-	-	-
Debt Equivalent Oper. Leases	34.78M	31.26M	40.62M	36.02M	29.64M
Minority Interest, Total (Incl. Fin. Div)	-	4.05M	2.31M	1.74M	1.03M
Account Code - Inventory Valuation	4	4	4	5	5
LIFO Reserve, Total	-5.75M	-6.11M	-	-	-
Inventories - Raw Materials, Total	39.81M	41.08M	42.84M	50.75M	40.1M
Inventories - Finished Goods, Total	35.93M	43.55M	43.21M	67.38M	57.15M
Inventories - Others	989K	1.22M	1.56M	1.79M	1.71M
Land - (BS)	22K	22K	22K	22K	22K
Buildings, Total	2.66M	2.75M	3.1M	3.1M	3.96M
Machinery, Total	23.02M	24.64M	28.99M	35.1M	38.14M
Full Time Employees	466	408	426	413	373
Accumulated Allowance for Doubtful Accounts (Supple)	280K	150K	262K	114K	78K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	13.77M	33.04M	52.06M	11.64M	38.46M
Depreciation & Amortization - CF	2.64M	3.24M	3.1M	3.39M	3.26M
Amortization of Goodwill and Intangible Assets - (CF)	1.45M	1.78M	1.91M	1.91M	3.1M
Depreciation & Amortization, Total	4.09M	5.02M	5.01M	5.3M	6.36M
Amortization of Deferred Charges, Total - (CF)	4.36M	8.97M	2.54M	2.58M	2.44M
(Gain) Loss From Sale Of Asset	7K	123K	-54K	-9K	90K
(Gain) Loss on Sale of Investments - (CF)	-2M	-	7.1M	13.57M	12.18M
Asset Writedown & Restructuring Costs	301K	149K	-	27.57M	-
Stock-Based Compensation (CF)	3.63M	2.55M	7.56M	5.27M	6.56M
Other Operating Activities, Total	-7.47M	4.36M	-4.86M	-7.96M	-10.58M
Change In Accounts Receivable	-3.46M	-2.11M	3.32M	-2.1M	-1.61M
Change In Inventories	21.04M	-7.65M	-9K	-32.65M	20.98M
Change In Accounts Payable	6.61M	-5.06M	-2.37M	1.24M	-14K
Change in Other Net Operating Assets	-3.08M	4.29M	-2.08M	5.83M	-7.98M
Cash from Operations	37.8M	43.68M	68.22M	30.27M	66.88M
Capital Expenditure	-4.82M	-6.14M	-6.16M	-7.68M	-5.71M
Sale of Property, Plant, and Equipment	123K	3K	54K	62K	3K
Cash Acquisitions	-7.7M	-39.44M	-16.42M	-	-
Investment in Marketable and Equity Securities, Total	-1.42M	-19.25M	-16.66M	-1M	-202K
Other Investing Activities, Total	29.72M	-	-19.66M	-10.17M	-
Cash from Investing	15.9M	-64.82M	-58.84M	-18.79M	-5.91M
Long-Term Debt Issued, Total	172M	7.48M	250M	-	-
Total Debt Issued	172M	7.48M	250M	-	-
Long-Term Debt Repaid, Total	-74M	-20.24M	-140M	-9M	-41.79M
Total Debt Repaid	-74M	-20.24M	-140M	-9M	-41.79M
Issuance of Common Stock	738K	862K	2.07M	504K	450K
Repurchase of Common Stock	-84K	-10.19M	-38.68M	-30.45M	-995K
Common Dividends Paid	-3.53M	-3.8M	-4.1M	-4.25M	-4.5M
Common & Preferred Stock Dividends Paid	-3.53M	-3.8M	-4.1M	-4.25M	-4.5M
Other Financing Activities, Total	-27.66M	-3.45M	-12.6M	-104K	-2.67M
Cash from Financing	67.97M	-29.34M	57.07M	-43.3M	-49.5M
Foreign Exchange Rate Adjustments	-	-	191K	-320K	13K
Net Change in Cash	122M	-50.48M	66.64M	-32.14M	11.48M
Supplemental Items
Cash Interest Paid	11.83M	11.46M	12.54M	18.72M	18.05M
Cash Income Tax Paid (Refund)	11.33M	3.38M	16.06M	13.37M	12.45M
Levered Free Cash Flow	53.03M	20.89M	50.63M	13.62M	55.08M
Unlevered Free Cash Flow	59.5M	24.56M	60.9M	23.25M	62.51M
Change In Net Working Capital	-23.21M	18.56M	3.25M	29.49M	-2.61M
Net Debt Issued / Repaid	98.5M	-12.76M	110M	-9M	-41.79M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	8.5	8.91	10.52	8.49	9.23
Return on Total Capital	9.39	9.8	11.33	9.08	9.91
Return On Equity %	14.56	27.83	40.81	9.03	28.47
Return on Common Equity	14.56	28.32	42.52	9.58	29.29
Margin Analysis
Gross Profit Margin %	44.13	46.81	48.9	49.53	50.13
SG&A Margin	28.68	30.03	27.91	30.16	30.26
EBITDA Margin %	15.89	17.7	21.86	20.5	22.36
EBITA Margin %	15.16	16.9	21.17	19.68	21.56
EBIT Margin %	14.76	16.46	20.74	19.22	20.8
Income From Continuing Operations Margin %	3.8	8.16	11.51	2.69	9.32
Net Income Margin %	3.8	8.16	11.69	2.8	9.49
Net Avail. For Common Margin %	3.8	8.16	11.69	2.8	9.49
Normalized Net Income Margin	6.69	7.2	10.26	9.19	10.73
Levered Free Cash Flow Margin	14.65	5.16	11.37	3.28	13.59
Unlevered Free Cash Flow Margin	16.44	6.06	13.67	5.6	15.42
Asset Turnover
Asset Turnover	0.92	0.87	0.81	0.71	0.71
Fixed Assets Turnover	19.82	13.64	13.27	12.04	11.26
Receivables Turnover (Average Receivables)	76.02	49.9	56.29	55.81	44.15
Inventory Turnover (Average Inventory)	2.3	2.66	2.36	1.85	1.75
Short Term Liquidity
Current Ratio	3.39	2.78	6.18	6.23	2.67
Quick Ratio	1.83	0.9	3.34	2.77	1.47
Operating Cash Flow to Current Liabilities	0.68	0.77	1.69	0.73	0.67
Days Sales Outstanding (Average Receivables)	4.8	7.33	6.48	6.54	8.27
Days Outstanding Inventory (Average Inventory)	158.79	137.46	154.46	196.9	208.52
Average Days Payable Outstanding	21.71	18.78	12.9	12.15	16.95
Cash Conversion Cycle (Average Days)	141.88	126.02	148.05	191.3	199.84
Long Term Solvency
Total Debt/Equity	281.46	239.23	321.94	370.83	248.67
Total Debt / Total Capital	73.79	70.52	76.3	78.76	71.32
LT Debt/Equity	265.09	227.59	319.71	368.1	208.55
Long-Term Debt / Total Capital	69.49	67.09	75.77	78.18	59.81
Total Liabilities / Total Assets	76.13	73.26	77.77	80.18	73.3
EBIT / Interest Expense	3.08	3.3	4.51	4.09	5.33
EBITDA / Interest Expense	3.57	3.74	5	4.59	5.97
(EBITDA - Capex) / Interest Expense	3.29	3.44