TPB vs BTI vs RLX Stock Comparison

Turning Point Brands, British American Tobacco p.l.c and RLX Technology Prices as of Oct 26, 2026 Peers: Industry group
RLX RLX Technology Inc.
$1.66 -1.2% 1M -31.7% 1Y
Market cap
$2.57B
P/E
34.3x
Revenue (TTM)
$700.66M
Div. yield
6.02%
Tobacco Consumer Staples
4 wins

Head to Head

11 decided of 12

Turning Point Brands leads on 4 of the 12 questions below (Turning Point Brands 4, RLX Technology 4, British American Tobacco p.l.c 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionTPBBTIRLXLeader
Larger companyMarket capitalisation $1.31B $139.02B $2.57B BTI
Cheaper on earningsLower P/E, profitable companies only 29.2x — 34.3x TPB
Cheaper on forward earningsLower price / next fiscal year consensus EPS 55.8x 13.2x 11.9x RLX
Faster revenue growthRevenue growth, trailing twelve months +24.5% — +54.5% RLX
More profitableNet margin, trailing twelve months 8.8% — 8.5% TPB
Better return on capitalReturn on invested capital 9.1% — 3.6% TPB
Less leveragedLower net debt / EBITDA — — — –
Higher dividend yieldTrailing dividend yield 0.48% 5.39% 6.02% RLX
Better 1-year returnPrice return, last 12 months -28.4% +15.5% -31.7% BTI
Better 5-year returnAnnualised price return, 5 years +11.6%/yr +10.9%/yr -20.1%/yr TPB
Less volatileAnnualised volatility, 1 year 56.5% 26.0% 29.7% BTI
Higher overall scoreMean of the five percentile scores vs peers 76/100 — 89/100 RLX

Percentile Scorecard

TPBBTIRLX

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisTPBBTIRLX
Valuation 43 #9 of 15 – 71 #5 of 15
Growth 73 #4 of 12 – 91 #2 of 12
Profitability 100 #1 of 13 – 92 #2 of 13
Financial Health 87 #3 of 16 33 #11 of 16 100 #1 of 16
Shareholder Returns – – –
Overall 76 – 89
  • TPB ranked among 17 companies in Tobacco and Cannabis
  • BTI ranked among 17 companies in Tobacco and Cannabis
  • RLX ranked among 17 companies in Tobacco and Cannabis

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodTPBBTIRLXSPY
1 month +5.3%+8.1%-1.2% -0.8%
3 months -17.0%-1.2%-18.6% +3.5%
6 months -18.2%+4.9%-23.9% +7.0%
Year to date -39.8%+6.2%-28.8% +12.2%
1 year -28.4%+15.5%-31.7% +13.0%
3 years +229.2%+107.5%+0.6% +86.3%
3 years, per year +48.8%+27.6%+0.2% +23.1%
5 years +72.8%+67.9%-67.5% +68.6%
5 years, per year +11.6%+10.9%-20.1% +11.0%
10 years +423.7%+7.8%— +258.0%
10 years, per year +18.0%+0.7%— +13.6%

Risk

MeasureTPBBTIRLXSPY
Volatility, 1Y 56.5%26.0%29.7% 12.7%
Downside volatility, 1Y 66.2%24.8%31.2% 12.7%
Beta vs S&P 500, 1Y 0.610.130.50 1.00
Return / volatility, 1Y -0.500.59-1.07 1.02
Max drawdown, 5Y -61.4%-39.8%-82.9% -25.4%
From 52-week high -54.3%-9.9%-35.4% -1.8%
52-week high $142.98$66.70$2.57 $779.14
52-week low $55.23$51.19$1.62 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleTPBBTIRLX
P/E now vs peer median 29.2xmedian 29.2x —median 29.2x 34.3xmedian 29.2x
P/S now vs peer median 2.6xmedian 0.7x —median 0.7x 3.7xmedian 0.7x
EV/EBITDA now vs peer median —median 25.1x —median 25.1x —median 25.1x
P/FCF now vs peer median 66.7xmedian 34.2x —median 34.2x 34.2xmedian 34.2x
P/B now vs peer median 2.9xmedian 1.7x 2.3xmedian 1.7x 1.1xmedian 1.7x
PEG now vs peer median 0.56median 0.78 —median 0.78 -1.00median 0.78

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsTPBBTIRLX
Revenue $507.23M – $700.66M
Gross profit $300.08M – $226.56M
Operating income $75.01M – $84.78M
Net income $59.64M – $145.36M
Free cash flow $19.63M – $75.29M
R&D – – $19.19M
EPS (diluted) $2.21 – $0.05
Cash & equivalents $270.20M $3.34B $682.25M
Total debt $1.18B $198.75B $74.18M
Shares (diluted) 20.16M 2.20B 1.22B
Enterprise value $441.00M $115.68B -$1.18B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricTPBBTIRLX
P/E 29.2x – 34.3x
P/FCF 66.7x – 34.2x
P/Operating cash flow 40.6x – 34.2x
P/S 2.6x – 3.7x
P/B 2.9x 2.3x 1.1x
P/Tangible book 3.4x 2.3x 1.1x
EV/EBITDA – – –
EV/EBIT 17.8x – 19.1x
EV/Revenue 2.6x – 2.3x
EV/FCF 67.9x – 21.5x
EV/Operating cash flow 41.4x – 21.5x
PEG (3Y EPS CAGR) 0.56 – -1.00

Growth

14 metrics
MetricTPBBTIRLX
Revenue growth (1Y) 24.5% – 54.5%
Revenue CAGR (3Y) 11.1% – 36.5%
Gross profit growth (1Y) 31.0% – 81.1%
Gross profit CAGR (3Y) 16.3% – 25.3%
Operating income growth (1Y) -15.0% – 551.7%
Operating income CAGR (3Y) 0.3% – 54.5%
Net income growth (1Y) 23.8% – 41.4%
Net income CAGR (3Y) 69.6% – 57.6%
EPS growth (1Y) -7.6% – -53.3%
EPS CAGR (3Y) 52.4% – -34.3%
Operating cash flow growth (1Y) -46.5% – -50.1%
Operating cash flow CAGR (3Y) -14.0% – 33.2%
Free cash flow growth (1Y) -62.4% – -50.1%
Free cash flow CAGR (3Y) -24.4% – 33.2%

Profitability

14 metrics
MetricTPBBTIRLX
Gross margin 59.2% – 32.3%
EBITDA margin – – –
Operating margin 14.8% – 12.1%
Pretax margin 13.6% – 23.5%
Net margin 8.8% – 8.5%
FCF margin 3.9% – 10.7%
Operating cash flow margin 6.4% – 10.7%
Return on equity 14.2% – 6.3%
Return on assets 7.3% – 5.8%
Return on invested capital 9.1% – 3.6%
Return on capital employed 10.3% – 3.6%
Asset turnover 0.6x – 0.3x
Cash conversion (OCF / net income) 0.5x – 0.5x
Stock comp / revenue 1.8% – –

Financial Health

11 metrics
MetricTPBBTIRLX
Debt / assets 34.4% 32.3% 1.0%
Debt / equity 0.6x 0.8x 0.0x
Net debt / EBITDA – – –
Debt / FCF 15.0x – 0.3x
Liabilities / assets 46.9% 57.1% 7.3%
Equity / assets 53.1% 42.9% 92.7%
Interest coverage 2.7x – –
Current ratio 5.7x 0.8x 10.6x
Quick ratio 3.5x 0.5x 7.3x
Cash ratio 3.1x 0.2x 6.5x
Altman Z-score 3.77 – –

Shareholder Returns

7 metrics
MetricTPBBTIRLX
Dividend yield 0.5% 5.4% 6.0%
Net buyback yield -12.2% – –
Shareholder yield -11.7% 5.4% 6.0%
Payout ratio (earnings) 10.2% – –
Payout ratio (FCF) 30.9% – –
Dividend growth (1Y) 15.9% – –
Dividend CAGR (3Y) 11.9% – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusTPBBTIRLX
Forward P/E 55.8xFY2026 13.2xFY2026 11.9xFY2026
EPS, next fiscal year $1.17FY2026 $4.57FY2026 $0.14FY2026
EPS growth, next FY -62.4%FY2026 -5.0%FY2026 +40.0%FY2026
EPS growth, the year after +59.0% +18.2% +7.1%
Revenue, next fiscal year $597.82MFY2026 $32.96BFY2026 $952.73MFY2026
Revenue growth, next FY +29.1%FY2026 -8.6%FY2026 +68.3%FY2026
Revenue growth, the year after +4.7% +12.8% +26.2%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersTPBBTIRLX
Held by institutions 99.9% 15.0% 21.6%
Institutions holding 231 906 104
Change in shares held, QoQ +8.1% +2.7% +4.5%
Institutions buying 138 488 42
Institutions selling 66 264 46
Buyers to sellers 2.09 1.85 0.91

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

TPBBTIRLX
TPB 1.00 0.30 0.03
BTI 0.30 1.00 0.16
RLX 0.03 0.16 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, TPB, BTI and RLX?

British American Tobacco p.l.c (BTI) is the largest by market capitalisation: Turning Point Brands (TPB) $1.31B, British American Tobacco p.l.c (BTI) $139.02B, RLX Technology (RLX) $2.57B.

Which stock is cheaper, TPB, BTI and RLX?

Turning Point Brands (TPB) trades on the lowest price-to-earnings ratio (Turning Point Brands (TPB) 29.2x, RLX Technology (RLX) 34.3x). On next year's consensus earnings, RLX Technology (RLX) is cheapest (Turning Point Brands (TPB) 55.8x, British American Tobacco p.l.c (BTI) 13.2x, RLX Technology (RLX) 11.9x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

RLX Technology (RLX) grew revenue fastest over the trailing twelve months: Turning Point Brands (TPB) +24.5%, RLX Technology (RLX) +54.5%.

Which company is more profitable?

Turning Point Brands (TPB) has the highest net margin (Turning Point Brands (TPB) 8.8%, RLX Technology (RLX) 8.5%). On return on invested capital, Turning Point Brands (TPB) leads (Turning Point Brands (TPB) 9.1%, RLX Technology (RLX) 3.6%).

Which stock has performed better?

Over the past year British American Tobacco p.l.c (BTI) returned the most: Turning Point Brands (TPB) -28.4%, British American Tobacco p.l.c (BTI) +15.5%, RLX Technology (RLX) -31.7%. Over five years, Turning Point Brands (TPB) compounded fastest (Turning Point Brands (TPB) +11.6%/yr, British American Tobacco p.l.c (BTI) +10.9%/yr, RLX Technology (RLX) -20.1%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

RLX Technology (RLX) has the highest dividend yield: Turning Point Brands (TPB) 0.48%, British American Tobacco p.l.c (BTI) 5.39%, RLX Technology (RLX) 6.02%.

Which stock is riskier?

By one-year price volatility, British American Tobacco p.l.c (BTI) has been the steadiest (Turning Point Brands (TPB) 56.5%, British American Tobacco p.l.c (BTI) 26.0%, RLX Technology (RLX) 29.7%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, TPB, BTI and RLX?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Turning Point Brands (TPB) leads on 4. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.