Put your flat cap on because the Peaky Blinders are back.

In 2022, Peaky Blinders ended after six seasons. The series followed Tommy Shelby (Cillian Murphy) and his rise from gang leader to a full-blown criminal entrepreneur and eventually even a politician.

The series concluded in 1934, where the Blinders started butting heads with rising fascists like Oswald Mosley (Sam Claflin), and early rumblings of Hitler’s rise to power began spreading throughout England.

The Immortal Man picks up six years later, in 1940. World War II is now fully underway, and England is being bombed by the Nazis. Tommy is still living in his self-imposed exile, haunted by the memories of all the people he’s killed and those who have died on his behalf.

“When you meet him at the beginning of the Second World War, he’s retreated from society,” Murphy told the BBC in March 2025. “He’s on his own, rattling around in his big house with all these demons and ghosts, and the consequences of his deeds come rushing back in.”

Meanwhile, his estranged son, Duke (Barry Keoghan), is now running the Blinders and is a ruthless, careless leader who feels abandoned by his father. With no family or allies, Duke is easily swayed by John Beckett (Tim Roth), a Nazi sympathizer who convinces him to betray his country and help with an illegal counterfeit smuggling operation.

Their plan is to flood England with fraudulent currency, which will create massive inflation, causing panic and crashing the country’s economy. Duke is offered money and safety from the Nazis if he helps them smuggle the counterfeit currency, and he accepts.

But Tommy unexpectedly returns from his exile after being told that his son needs him. Initially, Tommy hates Duke’s selfish ruthlessness, and Duke resents Tommy for being absent throughout his life. But once Tommy learns that Duke has gotten involved with the Nazis, he finally steps up as a father and decides to help get him out of the dire situation.

The film’s big finale sees Duke caught between his father and the Nazis during the smuggling operation. He’s helping his dad formulate a plan to destroy the currency and kill the Nazis. But he’s also tipped off the Nazis that his father is coming for them and says he’ll help them if they keep their end of the bargain.

Here’s the ending of Peaky Blinders: The Immortal Man explained.

Warning: Spoilers ahead for Peaky Blinders: The Immortal Man!

How does Peaky Blinders: The Immortal Man end?

In the finale, the Blinders begin their journey transporting the fake currency on ferries through canals. Thanks to Duke’s tip, the Nazis have set up a firing squad at their meeting point, intent on killing Tommy and the Peaky Blinders before they have a chance to fight back. But Tommy isn’t on board the ferries as the Nazis believe, and is actually navigating his way through the sewers.

Meanwhile, Duke is in Beckett’s warehouse, and Beckett sits with him. The two have a strange demeanor, making it unclear whether they’re new allies or are merely waiting for the other to betray them.

When the Blinders get close to the meeting point, they load the ferries with dynamite, and everyone gets off except Johnny Dogs (Packy Lee), who is tasked with lighting the fuse once he gets close to the Nazis.

Does Duke betray the Peaky Blinders and his father?

As the ferries finally come into sight, the Nazis ready their guns to fire. It becomes a tense moment where audiences can’t tell which side Duke is on and whether the Nazis know the boats are filled with explosives or not. Johnny lights the wick and jumps into the canal. When the Nazis see him, they begin firing. But it’s too late, the wick is already lit, and as the boats hit the dock, they explode.

After hearing the explosion, Beckett realizes he’s been betrayed and grabs his pistol, holding Duke at gunpoint. “Your father always thinks he’s one step ahead,” Beckett says. “But he left you behind, didn’t he? What kind of father leaves his son behind?”

Before Beckett can finish his last word, an explosion rattles the room, knocking him to the ground. That’s when it’s revealed that the sewers Tommy was traversing weren’t leading him to the ferries, but were actually him making his way to the warehouse to protect his son.

The rest of the Blinders also arrive at the warehouse, as do Beckett’s remaining Nazi henchmen. A final battle wages between the two groups, leading to one final, crucial moment.

Does Tommy die in The Immortal Man?

The Blinders win the battle, and the last Nazi remaining is Beckett, who attempts to speed away in his car. Tommy stands in his way and holds out his gun. While driving, Beckett also whips out his gun and shoots Tommy twice through his windshield.

Despite being hit twice in the abdomen, Tommy remains standing, waiting for Beckett to get close enough to ensure he won’t miss. He shoots Beckett straight through the head and then closes his eyes, waiting for the car to hit him. But just before it does, Duke grabs his dad and pulls him out of the way.

Knowing that he’s bleeding profusely, Tommy tells Duke he needs to shoot him and put him out of his misery. Initially, Duke says he can’t bring himself to do it, but after realizing it’s to help end his dad’s suffering, Duke pulls the trigger.

As Tommy starts to die, he sees images of everyone he’s lost throughout the years — all the ghosts who have haunted him, that he’s been forced to mourn. He seems to find peace knowing he’s about to reunite with them all.

What happens after the finale of The Immortal Man?

At the end of the movie, Tommy is given a traditional funeral, and his body is burned inside his vardo on a rural hillside. The final scene pays homage to the series finale, which plays out similarly, with Tommy’s caravan and all his belongings burning on a hillside.

But whereas the series finale symbolized Tommy having the chance at a fresh start, the movie’s final moments offer Tommy the peace he’s been so desperately searching for all these years.