TPB vs. BTI

Last updated Apr 1, 2026

Compare and contrast key facts about Turning Point Brands, Inc. (TPB) and British American Tobacco p.l.c. (BTI).

Performance

TPB vs. BTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Turning Point Brands, Inc. (TPB) and British American Tobacco p.l.c. (BTI). The values are adjusted to include any dividend payments, if applicable.

TPB vs. BTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TPB Turning Point Brands, Inc.	-19.86%	81.04%	130.09%	23.06%	-42.19%	-14.79%	57.08%	5.63%	29.57%	72.88%
BTI British American Tobacco p.l.c.	4.77%	65.81%	35.44%	-19.97%	14.91%	7.95%	-4.73%	42.97%	-49.35%	24.40%

Fundamentals

Market Cap TPB : $1.70B BTI : $128.22B
EPS TPB : $3.08 BTI : $4.93
PE Ratio TPB : 28.14 BTI : 11.87
PEG Ratio TPB : 0.51 BTI : 0.44
PS Ratio TPB : 3.53 BTI : 2.50
PB Ratio TPB : 4.56 BTI : 2.68
Total Revenue (TTM) TPB : $463.06M BTI : $51.48B
Gross Profit (TTM) TPB : $264.31M BTI : $42.82B
EBITDA (TTM) TPB : $114.15M BTI : $20.34B

Returns By Period

In the year-to-date period, TPB achieves a -19.86% return, which is significantly lower than BTI's 4.77% return.

TPB

• 1D: 0.66%
• 1M: -36.59%
• YTD: -19.86%
• 6M: -12.07%
• 1Y: 46.51%
• 3Y*: 61.57%
• 5Y*: 11.45%
• 10Y*: —

BTI

• 1D: 0.36%
• 1M: -5.32%
• YTD: 4.77%
• 6M: 14.89%
• 1Y: 49.74%
• 3Y*: 28.10%
• 5Y*: 17.52%
• 10Y*: 6.97%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

TPB vs. BTI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TPB

TPB Risk / Return Rank: 71
TPB Sharpe Ratio Rank: 74
TPB Sortino Ratio Rank: 69
TPB Omega Ratio Rank: 75
TPB Calmar Ratio Rank: 66
TPB Martin Ratio Rank: 73

BTI

BTI Risk / Return Rank: 91
BTI Sharpe Ratio Rank: 93
BTI Sortino Ratio Rank: 91
BTI Omega Ratio Rank: 89
BTI Calmar Ratio Rank: 90
BTI Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TPB vs. BTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Turning Point Brands, Inc. (TPB) and British American Tobacco p.l.c. (BTI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TPB	BTI	Difference
Sharpe ratio Return per unit of total volatility	0.94	2.27	-1.32
Sortino ratio Return per unit of downside risk	1.53	2.91	-1.38
Omega ratio Gain probability vs. loss probability	1.25	1.37	-0.12
Calmar ratio Return relative to maximum drawdown	1.18	3.85	-2.67
Martin ratio Return relative to average drawdown	3.88	9.74	-5.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TPB vs. BTI - Sharpe Ratio Comparison

The current TPB Sharpe Ratio is 0.94, which is lower than the BTI Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of TPB and BTI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TPB	BTI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	2.27	-1.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.85	-0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.58	-0.05

Correlation

The correlation between TPB and BTI is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TPB vs. BTI - Dividend Comparison

TPB's dividend yield for the trailing twelve months is around 0.35%, less than BTI's 5.27% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TPB Turning Point Brands, Inc.	0.35%	0.28%	0.47%	0.99%	1.11%	0.58%	0.45%	0.63%	0.61%	0.19%	0.00%	0.00%
BTI British American Tobacco p.l.c.	5.27%	5.29%	8.18%	9.72%	7.23%	7.98%	7.22%	6.35%	8.53%	4.27%	3.85%	4.11%

Drawdowns

TPB vs. BTI - Drawdown Comparison

The maximum TPB drawdown since its inception was -72.75%, which is greater than BTI's maximum drawdown of -64.11%. Use the drawdown chart below to compare losses from any high point for TPB and BTI.

Drawdown Indicators

	TPB	BTI	Difference
Max Drawdown Largest peak-to-trough decline	-72.75%	-64.11%	-8.64%
Max Drawdown (1Y) Largest decline over 1 year	-40.80%	-13.75%	-27.05%
Max Drawdown (5Y) Largest decline over 5 years	-63.15%	-29.94%	-33.21%
Max Drawdown (10Y) Largest decline over 10 years	—	-56.00%	—
Current Drawdown Current decline from peak	-39.24%	-5.89%	-33.35%
Average Drawdown Average peak-to-trough decline	-28.46%	-12.96%	-15.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.40%	5.43%	+6.97%

Volatility

TPB vs. BTI - Volatility Comparison

Turning Point Brands, Inc. (TPB) has a higher volatility of 13.95% compared to British American Tobacco p.l.c. (BTI) at 8.07%. This indicates that TPB's price experiences larger fluctuations and is considered to be riskier than BTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPB	BTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.95%	8.07%	+5.88%
Volatility (6M) Calculated over the trailing 6-month period	35.96%	15.44%	+20.52%
Volatility (1Y) Calculated over the trailing 1-year period	49.53%	22.14%	+27.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.28%	20.70%	+19.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.74%	23.95%	+23.79%

Financials

TPB vs. BTI - Profitability Comparison

The chart below illustrates the profitability comparison between Turning Point Brands, Inc. and British American Tobacco p.l.c. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TPB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Turning Point Brands, Inc. reported a gross profit of 67.65M and revenue of 121.01M. Therefore, the gross margin over that period was 55.9%.

BTI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, British American Tobacco p.l.c. reported a gross profit of 11.30B and revenue of 13.54B. Therefore, the gross margin over that period was 83.4%.

TPB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Turning Point Brands, Inc. reported an operating income of 19.93M and revenue of 121.01M, resulting in an operating margin of 16.5%.

BTI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, British American Tobacco p.l.c. reported an operating income of 4.93B and revenue of 13.54B, resulting in an operating margin of 36.4%.

TPB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Turning Point Brands, Inc. reported a net income of 8.21M and revenue of 121.01M, resulting in a net margin of 6.8%.

BTI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, British American Tobacco p.l.c. reported a net income of 3.25B and revenue of 13.54B, resulting in a net margin of 24.0%.