Turning Point Brands, Inc.

TPB · Consumer Staples · $1.6B mkt cap · FY2025 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power71

Median gross margin 48.8% over 10y, stable.

Returns on capital73

Median ROIC 14.5%, above the 9% hurdle in 90% of years.

Balance-sheet safety49

Net debt/EBITDA 0.7x, interest coverage 4x.

Capital discipline64

Owner earnings +5.8%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

264% above value

Owner earnings (normalized): $39.1M
Est. intrinsic value / share: $22.70
Recent price: $82.68
Discount to value: 264% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell TPB. See the disclaimer.