A Business at a Glance
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Welcome to the Traegerhood Our mission is to bring people together to create a more flavorful world. Traeger is the creator and category leader of the wood pellet grill, an outdoor cooking system that ignites all-natural hardwoods to grill, smoke, bake, roast, braise, and barbecue. Our Traeger grills are versatile and easy to use, empowering cooks of all skill sets to create delicious meals with a wood-fired flavor that cannot be replicated with gas, charcoal, or electric grills. At the heart of our brand is a passionate and engaged community called the Traegerhood, which includes everyone from casual grillers to competition pitmasters and professional chefs. Our flagship wood pellet grills are internet of things (“IoT”) devices that allow owners to program, monitor, and control their grill through our Traeger app, which has been installed on more than 3.5 million mobile devices.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 583M | 604M | 606M | 656M | 786M | 546M |
| Net Income | -105M | -34M | -84M | -382M | -92M | 32M |
| EPS | $-0.80 | $-0.27 | $-0.68 | $-3.19 | $-0.82 | $0.29 |
| Free Cash Flow | 4.9M | 12M | 44M | -13M | -51M | 32M |
| ROIC | -37.8% | -0.4% | -12.3% | -47.6% | -9.3% | 6.4% |
| Gross Margin | 40.1% | 42.3% | 36.9% | 34.9% | 38.3% | 43.1% |
| Debt/Equity | 0.00 | 1.44 | 1.36 | 1.40 | 0.63 | 0.91 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -86M | -2.9M | -55M | -346M | -61M | 59M |
| Operating Margin | -14.8% | -0.5% | -9.2% | -52.7% | -7.8% | 10.8% |
| ROE | -56.4% | -12.0% | -29.0% | -114.1% | -15.1% | 6.7% |
| Shares Outstanding | 137M | 126M | 124M | 120M | 112M | 109M |
| Metric | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 546M | 786M | 656M | 606M | 604M | 583M |
| Gross Margin | 43.1% | 38.3% | 34.9% | 36.9% | 42.3% | 40.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 59M | -61M | -346M | -55M | -2.9M | -86M |
| Op. Margin | 10.8% | -7.8% | -52.7% | -9.2% | -0.5% | -14.8% |
| Net Income | 32M | -92M | -382M | -84M | -34M | -105M |
| Net Margin | 5.8% | -11.7% | -58.3% | -13.9% | -5.6% | -18.0% |
| Non-Recurring | 0 | 0 | 232M | 225K | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | 6.4% | -9.3% | -47.6% | -12.3% | -0.4% | -37.8% |
| ROE | 6.7% | -15.1% | -114.1% | -29.0% | -12.0% | -56.4% |
| ROA | 3.2% | -7.8% | -40.4% | -9.8% | -4.0% | -15.2% |
| Cash Flow | ||||||
| Op. Cash Flow | 47M | -28M | 5.1M | 64M | 24M | 12M |
| Free Cash Flow | 32M | -51M | -13M | 44M | 12M | 4.9M |
| Owner Earnings | 26M | -119M | -96M | -4.2M | -18M | -29M |
| CapEx | 14M | 22M | 18M | 20M | 12M | 7.6M |
| Maint. CapEx | 7.8M | 9.2M | 14M | 15M | 14M | 14M |
| Growth CapEx | 6.4M | 13M | 4.6M | 4.9M | 0 | 0 |
| D&A | 7.8M | 9.2M | 14M | 15M | 14M | 14M |
| CapEx/OCF | N/A | N/A | 361.2% | 31.1% | 50.2% | 60.7% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 13M | 81M | 88M | 53M | 28M | 28M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||
| Net Debt | 422M | 363M | 429M | 367M | 383M | -5.9M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | 5.9M |
| Long-Term Debt | 434M | 379M | 468M | 397M | 398M | 398M |
| Debt/Equity | 0.91 | 0.63 | 1.40 | 1.36 | 1.44 | 0.00 |
| Interest Coverage | 1.7 | -2.3 | -12.4 | -1.8 | -0.1 | -0.1 |
| Equity | 475M | 606M | 335M | 291M | 276M | 186M |
| Total Assets | 990M | 1.2B | 947M | 861M | 831M | 690M |
| Total Liabilities | 515M | 572M | 612M | 569M | 554M | 503M |
| Intangibles | 257M | 297M | 75M | 75M | 75M | 75M |
| Retained Earnings | -96M | -188M | -570M | -655M | -689M | -689M |
| Working Capital | 79M | 100M | 161M | 82M | 121M | 121M |
| Current Assets | 159M | 266M | 274M | 216M | 243M | 243M |
| Current Liabilities | 80M | 166M | 113M | 134M | 122M | 122M |
| Per Share Data | ||||||
| EPS | 0.29 | -0.82 | -3.19 | -0.68 | -0.27 | -0.80 |
| Owner EPS | 0.24 | -1.06 | -0.80 | -0.03 | -0.14 | -0.21 |
| Book Value | 4.36 | 5.42 | 2.80 | 2.35 | 2.19 | 1.36 |
| Cash Flow/Share | 0.43 | -0.25 | 0.04 | 0.52 | 0.19 | -0.66 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 109.0M | 111.9M | 119.8M | 124.1M | 126.0M | 137.0M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | -42.1 |
| P/FCF | N/A | N/A | N/A | 8.0 | 25.4 | 940.3 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 2.3 | 0.9 | 1.2 | 1.1 | 24.8 |
| Price/Sales | N/A | 2.9 | 1.0 | 0.7 | 0.6 | 7.9 |
| FCF Yield | N/A | -3.7% | -4.4% | 12.5% | 3.9% | 0.1% |
| Market Cap | N/A | 1.4B | 304M | 353M | 302M | 4.6B |
| Avg. Price | N/A | 20.36 | 5.56 | 3.50 | 2.66 | 33.66 |
| Year-End Price | N/A | 12.20 | 2.54 | 2.84 | 2.40 | 33.66 |
Traeger, Inc. passes 0 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 940.3x vs a median of 16.7x. The company's 5-year average gross margin is 39.1%. At current prices, the estimated annualized return to fair value is -19.4%.
Traeger, Inc. (COOK) has a 5-year average return on invested capital (ROIC) of -12.6%. This is below average and may indicate limited pricing power.
Traeger, Inc. (COOK) has a market capitalization of $4.6B. It is classified as a mid-cap stock.
Traeger, Inc. (COOK) does not currently pay a regular dividend.
Traeger, Inc. (COOK) operates in the Household Appliances industry, within the Industrials sector.
Traeger, Inc. (COOK) reported annual revenue of $604 million in its most recent fiscal year, based on SEC EDGAR filings.
Traeger, Inc. (COOK) has a net profit margin of -5.6%. The company is currently unprofitable.
Traeger, Inc. (COOK) generated $12 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Traeger, Inc. (COOK) has a debt-to-equity ratio of 1.44. This indicates moderate leverage.
Traeger, Inc. (COOK) reported earnings per share (EPS) of $-0.27 in its most recent fiscal year.
Traeger, Inc. (COOK) has a return on equity (ROE) of -12.0%. A negative ROE may indicate losses or negative equity.
Traeger, Inc. (COOK) has a 5-year average gross margin of 39.1%. This indicates decent pricing power.
The Ledger Terminal provides 5 years of financial data for Traeger, Inc. (COOK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Traeger, Inc. (COOK) has a book value per share of $2.19, based on its most recent annual SEC filing.