A Business at a Glance
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YETI Holdings, Inc.
YETI
$4.1B
Mkt Cap
$50.38
+0.54%
YETI Holdings, Inc. (YETI) has a current P/E ratio of 24.8, compared to its historical median P/E of 24.5. The stock is currently considered Fair based on its historical valuation range.
YETI Holdings, Inc. (YETI) has a 5-year average return on invested capital (ROIC) of 47.9%. This indicates strong capital allocation and a potential competitive advantage.
YETI Holdings, Inc. (YETI) has a market capitalization of $4.1B. It is classified as a mid-cap stock.
YETI Holdings, Inc. (YETI) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 7.25%.
Based on historical P/E analysis, YETI Holdings, Inc. (YETI) appears fair. The current P/E of 24.8 is 1% above its historical median of 24.5. The estimated fair value CAGR (P/E method) is 7.3%.
YETI Holdings, Inc. (YETI) operates in the Sporting & Athletic Goods, Nec industry, within the Consumer Cyclical sector.
YETI Holdings, Inc. (YETI) reported annual revenue of $1.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
YETI is a global designer, retailer, and distributor of premium outdoor products headquartered in Austin, Texas, founded in 2006 by avid outdoorsmen Roy and Ryan Seiders. The company operates three product categories—Coolers & Equipment (40% of 2025 net sales), Drinkware (58%), and Other (2%)—spanning hard coolers with rotomolded or injection-molded construction and commercial-grade polyurethane foam insulation, soft cooler bags including the Hopper and Daytrip collections, bags across everyday, travel, and pursuit platforms, cargo and storage solutions, outdoor living products, and drinkware featuring double-wall vacuum insulation and proprietary No Sweat design technology. YETI's business model combines direct-to-consumer channels (including yeti.com and retail locations) with wholesale distribution through retail partners and e-commerce platforms like Amazon, generating revenue through premium-priced products that command strong brand loyalty among outdoor enthusiasts and consumers valuing quality and design. The company's competitive moat rests on three reinforcing pillars: authentic brand heritage rooted in founder passion for outdoor pursuits, continuous innovation across a broadening product portfolio addressing expanding customer use cases and addressable markets, and operational execution including supply chain resilience and global distribution capabilities. International markets represent a significant growth opportunity, having grown from 2% of sales at IPO to 21% today, with expansion underway in Asia (Japan in ramp phase, Southeast Asia rolling out, China and Korea targeted for second half 2026), while Canada and Australia remain established markets. The company serves diverse customer segments from serious outdoor enthusiasts to lifestyle consumers, with growing presence in corporate customization, sports partnerships, and hospitality channels.
【International expansion accelerating】 Management expects international sales growth in the high teens to 20% range for full year 2026, with Japan in ramp phase and new market launches in China and Korea planned for the second half of the year, supported by strong underlying consumer demand and deliberate, repeatable go-to-market execution. Drinkware is positioned as a scalable, durable platform with growth broadening across the portfolio through refreshed core products, targeted extensions, and disciplined pricing, with management expecting mid-single-digit growth for 2026 driven by increased innovation and global expansion. Coolers & Equipment is anticipated to deliver high single-digit to low double-digit growth, supported by momentum across soft coolers, bags, hard coolers, and storage categories, with new production capacity coming online in the first half of 2026 to address supply constraints. Management expects gross margin improvement in the second half of 2026 as tariff impacts are lapped, combined with continued supply chain cost reductions and selective price increases, while operating expense leverage is expected to accelerate as growth initiatives scale. The company plans to continue investing in innovation, supply chain strengthening, and brand-building efforts, with capital allocation prioritizing product development, international expansion, and shareholder returns through share repurchases.
| Metric | Target | Period |
|---|---|---|
| Net sales growth | 7%-8% | FY2026 |
| Gross margin | 56.5%-57% | FY2026 |
| Adjusted operating income growth | 8%-10% | FY2026 |
| Adjusted operating income margin | approximately 14.6% | FY2026 |
| Adjusted earnings per diluted share | $2.83 to $2.89 | FY2026 |
| Capital expenditures | $60 million-$70 million | FY2026 |
| Free cash flow | $200 million-$225 million | FY2026 |
| International sales growth | high teens to 20% | FY2026 |
| Drinkware growth | mid-single-digit | FY2026 |
| U.S. sales growth | low to mid-single-digit | FY2026 |
Net sales growth (FY2026): “We now expect full year sales growth of 7%-8% from the previous outlook of 6%-8%.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call
| Metric | TTM | FY2026 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.9B | 1.9B | 1.8B | 1.7B | 1.6B | 1.1B |
| Net Income | 165M | 165M | 176M | 170M | 90M | 156M |
| EPS | $2.03 | $2.03 | $2.05 | $1.94 | $1.03 | $1.77 |
| Free Cash Flow | 212M | 212M | 220M | 235M | 55M | 351M |
| ROIC | 30.0% | 30.0% | 40.3% | 40.2% | 32.5% | 96.4% |
| Gross Margin | 57.4% | 57.4% | 58.1% | 56.9% | 47.9% | 57.6% |
| Debt/Equity | 0.11 | 0.11 | 0.23 | 0.24 | 0.31 | 0.46 |
| Dividends/Share | $0.00 | - | - | - | $0.00 | $0.00 |
| Operating Income | 214M | 214M | 245M | 225M | 126M | 214M |
| Operating Margin | 11.4% | 11.4% | 13.4% | 13.6% | 7.9% | 19.6% |
| ROE | 25.4% | 25.4% | 24.0% | 27.2% | 22.0% | 54.0% |
| Shares Outstanding | 81M | 81M | 86M | 88M | 87M | 88M |
| Metric | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 819M | 639M | 779M | 914M | 1.1B | 1.6B | 1.7B | 1.8B | 1.9B | 1.9B |
| Gross Margin | 50.5% | 46.1% | 49.2% | 52.0% | 57.6% | 47.9% | 56.9% | 58.1% | 57.4% | 57.4% |
| R&D | 30M | 8.8M | 11M | 21M | 11M | 15M | 16M | 21M | 25M | 25M |
| SG&A | 326M | 231M | 281M | 386M | 415M | 637M | 718M | 818M | 859M | 859M |
| EBIT | 88M | 64M | 102M | 90M | 214M | 126M | 225M | 245M | 214M | 214M |
| Op. Margin | 10.8% | 10.0% | 13.1% | 9.8% | 19.6% | 7.9% | 13.6% | 13.4% | 11.4% | 11.4% |
| Net Income | 48M | 15M | 58M | 50M | 156M | 90M | 170M | 176M | 165M | 165M |
| Net Margin | 5.9% | 2.4% | 7.4% | 5.5% | 14.3% | 5.6% | 10.2% | 9.6% | 8.9% | 8.9% |
| Non-Recurring | 0 | 0 | 2.2M | 616K | 1.1M | 1.2M | 2.9M | 5.5M | 3.8M | 3.8M |
| Returns on Capital | ||||||||||
| ROIC | 22.2% | 9.8% | 27.2% | 21.4% | 96.4% | 32.5% | 40.2% | 40.3% | 30.0% | 30.0% |
| ROE | 90.7% | -18.0% | -244.4% | 66.8% | 54.0% | 22.0% | 27.2% | 24.0% | 25.4% | 25.4% |
| ROA | N/A | 5.9% | 11.2% | 8.8% | 21.1% | 9.9% | 14.3% | 13.6% | 13.4% | 13.4% |
| Cash Flow | ||||||||||
| Op. Cash Flow | 29M | 148M | 176M | 87M | 366M | 101M | 286M | 261M | 255M | 255M |
| Free Cash Flow | -6.7M | 106M | 155M | 55M | 351M | 55M | 235M | 220M | 212M | 212M |
| Owner Earnings | -101M | 114M | 138M | 5.6M | 327M | 43M | 210M | 173M | 153M | 153M |
| CapEx | 36M | 42M | 21M | 32M | 16M | 46M | 51M | 42M | 43M | 43M |
| Maint. CapEx | 12M | 21M | 25M | 29M | 31M | 40M | 46M | 48M | 54M | 54M |
| Growth CapEx | 24M | 21M | 0 | 3.1M | 0 | 6.1M | 4.2M | 0 | 0 | 0 |
| D&A | 12M | 21M | 25M | 29M | 31M | 40M | 46M | 48M | 54M | 54M |
| CapEx/OCF | N/A | N/A | N/A | 36.9% | 4.2% | 38.3% | 17.7% | 16.0% | 16.7% | 16.7% |
| Capital Allocation | ||||||||||
| Dividends Paid | 454M | 2.8M | 2.5M | 636K | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 2.0M | 0 | 0 | 100M | 0 | 200M | 298M | 298M |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | 5.1% | 7.9% | 7.3% |
| Stock-Based Comp | 118M | 13M | 13M | 52M | 9.0M | 18M | 30M | 41M | 48M | 48M |
| Debt Repayment | 84M | 46M | 152M | 35M | 165M | 23M | 7.7M | 4.2M | 4.2M | 4.2M |
| Balance Sheet | ||||||||||
| Net Debt | 529M | 422M | 248M | 274M | -120M | -73M | -265M | -189M | -116M | -116M |
| Cash & Equiv. | 21M | 54M | 80M | 73M | 253M | 235M | 439M | 359M | 188M | 188M |
| Long-Term Debt | 550M | 429M | 284M | 282M | 111M | 72M | 79M | 73M | 68M | 68M |
| Debt/Equity | -5.78 | -6.24 | 11.32 | 2.84 | 0.46 | 0.31 | 0.24 | 0.23 | 0.11 | 0.11 |
| Interest Coverage | 4.1 | 2.0 | 3.3 | 4.1 | 23.4 | 28.3 | 239.3 | 2251.2 | 3619.6 | 3619.6 |
| Equity | -95M | -76M | 29M | 122M | 288M | 526M | 724M | 740M | 650M | 650M |
| Total Assets | N/A | 516M | 514M | 630M | 737M | 1.1B | 1.3B | 1.3B | 1.2B | 1.2B |
| Total Liabilities | N/A | 593M | 485M | 508M | 449M | 550M | 574M | 546M | 585M | 585M |
| Intangibles | N/A | 74M | 80M | 91M | 92M | 99M | 118M | 172M | 220M | 220M |
| Retained Earnings | N/A | -296M | -240M | -190M | -34M | 269M | 438M | 614M | 780M | 780M |
| Working Capital | N/A | 151M | 110M | 190M | 189M | 310M | 516M | 447M | 326M | 326M |
| Current Assets | 3.0M | 303M | 297M | 361M | 476M | 719M | 914M | 827M | 660M | 660M |
| Current Liabilities | N/A | 152M | 187M | 170M | 288M | 409M | 398M | 380M | 334M | 334M |
| Per Share Data | ||||||||||
| EPS | 0.58 | 0.19 | 0.69 | 0.58 | 1.77 | 1.03 | 1.94 | 2.05 | 2.03 | 2.03 |
| Owner EPS | -1.22 | 1.40 | 1.65 | 0.06 | 3.71 | 0.50 | 2.39 | 2.01 | 1.88 | 1.88 |
| Book Value | -1.15 | -0.94 | 0.35 | 1.40 | 3.28 | 6.05 | 8.26 | 8.64 | 7.98 | 7.98 |
| Cash Flow/Share | 0.35 | 1.82 | 2.10 | 1.00 | 4.16 | 1.16 | 3.27 | 3.05 | 3.13 | 2.70 |
| Dividends/Share | 5.54 | 0.03 | 0.03 | 0.01 | 0.00 | 0.00 | N/A | N/A | N/A | 0.00 |
| Shares Out. | 82.7M | 81.1M | 83.7M | 87.0M | 88.0M | 87.1M | 87.6M | 85.7M | 81.5M | 81.5M |
| Valuation | ||||||||||
| P/E Ratio | N/A | N/A | N/A | 30.5 | 39.0 | 25.9 | 23.0 | 22.3 | 22.9 | 24.8 |
| P/FCF | N/A | N/A | N/A | 28.1 | 17.3 | 98.6 | 16.6 | 17.9 | 17.9 | 19.4 |
| EV/EBIT | N/A | N/A | N/A | 19.8 | 27.9 | 19.6 | 15.8 | 14.9 | 17.2 | 18.7 |
| Price/Book | N/A | N/A | N/A | 12.6 | 21.0 | 10.5 | 5.4 | 5.3 | 5.8 | 6.3 |
| Price/Sales | N/A | N/A | N/A | 1.5 | 3.6 | 5.4 | 2.4 | 2.0 | 1.6 | 2.2 |
| FCF Yield | N/A | N/A | N/A | 3.6% | 5.8% | 1.0% | 6.0% | 5.6% | 5.6% | 5.2% |
| Market Cap | 0 | N/A | N/A | 1.5B | 6.1B | 5.5B | 3.9B | 3.9B | 3.8B | 4.1B |
| Avg. Price | 0.00 | N/A | N/A | 16.20 | 44.47 | 86.63 | 45.96 | 42.45 | 35.70 | 50.38 |
| Year-End Price | 0.00 | N/A | N/A | 17.69 | 68.97 | 62.25 | 44.64 | 45.73 | 46.47 | 50.38 |
YETI Holdings, Inc. passes 7 of 9 quality checks, indicating strong fundamentals.
YETI Holdings, Inc. trades at 24.8x trailing earnings, compared to its 15-year median P/E of 24.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 17.9x vs a median of 17.9x. The company's 5-year average ROIC is 47.9% with a gross margin of 55.6%. Total shareholder yield (buybacks) is 7.3%. At current prices, the estimated annualized return to fair value is +3.1%.
YETI Holdings, Inc. (YETI) has a net profit margin of 8.9%. This is a modest margin.
YETI Holdings, Inc. (YETI) generated $212 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
YETI Holdings, Inc. (YETI) has a debt-to-equity ratio of 0.11. This indicates a conservatively financed balance sheet.
YETI Holdings, Inc. (YETI) reported earnings per share (EPS) of $2.03 in its most recent fiscal year.
YETI Holdings, Inc. (YETI) has a return on equity (ROE) of 25.4%. This indicates the company generates strong returns for shareholders.
YETI Holdings, Inc. (YETI) has a 5-year average gross margin of 55.6%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 9 years of financial data for YETI Holdings, Inc. (YETI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
YETI Holdings, Inc. (YETI) has a book value per share of $7.98, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects international sales growth in the high teens to 20% range for full year 2026, with Japan in ramp phase and new market launches in China and Korea planned for the second half of the year, supported by strong underlying consumer demand and deliberate, repeatable go-to-market execution. Drinkware is positioned as a scalable, durable platform with growth broadening across the portfolio through refreshed core products, targeted extensions, and disciplined pricing, with management expecting mid-single-digit growth for 2026 driven by increased innovation and global expansion. Coolers & Equipment is anticipated to deliver high single-digit to low double-digit growth, supported by momentum across soft coolers, bags, hard coolers, and storage categories, with new production capacity coming online in the first half of 2026 to address supply constraints. Management expects gross margin improvement in the second half of 2026 as tariff impacts are lapped, combined with continued supply chain cost reductions and selective price increases, while operating expense leverage is expected to accelerate as growth initiatives scale. The company plans to continue investing in innovation, supply chain strengthening, and brand-building efforts, with capital allocation prioritizing product development, international expansion, and shareholder returns through share repurchases.
Based on recent SEC filings and earnings calls, YETI Holdings, Inc. (YETI) has provided the following forward guidance: Net sales growth: 7%-8% (FY2026); Gross margin: 56.5%-57% (FY2026); Adjusted operating income growth: 8%-10% (FY2026); Adjusted operating income margin: approximately 14.6% (FY2026); Adjusted earnings per diluted share: $2.83 to $2.89 (FY2026), plus 5 additional metrics.
Gross margin (FY2026): “We now expect full year gross margins at 56.5%-57% compared to prior year guidance of 56%-57%.”
Adjusted operating income growth (FY2026): “We now expect adjusted operating income growth of 8%-10% for the full year compared to prior guidance of 6%-8% growth.”
Adjusted operating income margin (FY2026): “We now expect 2026 adjusted operating income margin to be approximately 14.6%, up 20 basis points compared to 2025 and compared to our prior guidance.”
Adjusted earnings per diluted share (FY2026): “We expect adjusted earnings per diluted share of between $2.83 to $2.89, reflecting growth of 14%-17% compared to prior year guidance of $2.77 to $2.83 or growth of 12%-14%.”
Capital expenditures (FY2026): “Capital expenditure expectations are unchanged and expected to be between $60 million-$70 million for the year.”
Free cash flow (FY2026): “We continue to expect free cash flow of between $200 million-$225 million in 2026.”
International sales growth (FY2026): “we continue to estimate our international sales growth for the full year be in the high teens to 20% range.”