YETI Holdings, Inc. (YETI) stock analysis
Close on Nov 12, 2026Market cap $2.80BP/E 15.8Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Solid17 of 30 checks passed
YETI passes 17 of the 30 checks behind our score; 6 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 3/6
- Growth
- 4/6
- Past performance
- 5/6
- Financial health
- 5/6
- Dividend
- 0/6
What stands out
Return on equity over 15%
Return on equity was 27.3% over the last twelve months and averaged 29.0% over five years.
Return on capital over 10%
Return on invested capital was 29.5%, above the 10% that usually covers the cost of capital.
Low debt
Debt is 10.9% of shareholders' equity, under the 40% we consider low.
Earnings grew over 5 years
Net income grew 1.2% a year on average over the last five fiscal years.
What to watch
Margin of safety under 20%
The price is 2.3% above fair value, so there is no margin of safety.
Trading above fair value
The share price of $42.79 is above our fair value estimate of $41.82.
Revenue growing under 10% a year
Revenue grew 5.4% a year over the last three fiscal years, short of the 10% we look for.
Guidance lowered
YETI lowered its 2026 Diluted weighted average shares outstanding outlook on Aug 13, 2026.
Valuation3/6
P/E below its 5-year median
YETI's P/E of 17.7 is below its own 5-year median of 19.9.
P/E below the industry
YETI's P/E of 17.7 is below the Dolls, Toys, Games and Sporting and Athletic median of 18.1.
EV/EBITDA below its 5-year median
YETI's EV/EBITDA of 10.4 is below its 5-year median of 12.0.
P/B above the industry
YETI's price-to-book of 4.85 is above the Dolls, Toys, Games and Sporting and Athletic median of 1.53.
Trading above fair value
The share price of $42.79 is above our fair value estimate of $41.82.
Margin of safety under 20%
The price is 2.3% above fair value, so there is no margin of safety.
Growth4/6
Revenue growing under 10% a year
Revenue grew 5.4% a year over the last three fiscal years, short of the 10% we look for.
EPS growing 10%+ a year
Diluted EPS grew 25.4% a year over the last three fiscal years.
Earnings growth accelerating
Net income grew 14.6% over the last twelve months, against a 5-year average of 1.2% a year.
Growing faster than the industry
Revenue grew 6.9% over the last twelve months; the Dolls, Toys, Games and Sporting and Athletic median is 1.9%.
Guidance lowered
YETI lowered its 2026 Diluted weighted average shares outstanding outlook on Aug 13, 2026.
Gross margin improving
Gross margin was 59.6% over the last twelve months, against 57.8% a year earlier.
Past performance5/6
Return on equity over 15%
Return on equity was 27.3% over the last twelve months and averaged 29.0% over five years.
Return on capital over 10%
Return on invested capital was 29.5%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
YETI's return on equity of 27.3% is above the Dolls, Toys, Games and Sporting and Athletic median of 0.3%.
Earnings grew over 5 years
Net income grew 1.2% a year on average over the last five fiscal years.
Net margin below its 5-year average
Net margin was 9.4% over the last twelve months, against a 5-year average of 9.9%.
Net margin above the industry
YETI's net margin of 9.4% is above the Dolls, Toys, Games and Sporting and Athletic median of 0.5%.
Financial health5/6
Low debt
Debt is 10.9% of shareholders' equity, under the 40% we consider low.
Debt falling against equity
Debt to equity fell from 46.3% five years ago to 10.9%.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 405% of total debt.
Interest coverage
Interest expense is not reported separately.
Short-term assets cover short-term debts
Current assets are 1.77 times current liabilities.
Low bankruptcy risk
The Altman Z-score is 6.28; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
YETI has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$41.82
The share price is 2% above this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 19.0× | 19.9× | 18.1× | $45.94 | 44% |
| EV/EBITDA | 10.8× | 12.0× | 9.5× | $44.24 | 39% |
| Earnings power | 12.2% cost of equity | – | – | $25.16 | 17% |
| Fair value | $41.82 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 19.9
- Dolls, Toys, Games and Sporting and Athletic median 18.1
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $63.98M
- Value traded per 1% price move
- $33.58M
Downside
Medium risk
- Typical loss in a bad month
- 23.3%
- Volatility (annualized)
- 41%
- Sharpe ratio, 1 year
- 0.31
- Beta to the S&P 500 (5Y)
- 1.46
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +2.1% | +5.4% | +11.3% | – | |
| Gross profit | +0.9% | +12.0% | +11.3% | – | |
| Operating income | -13.0% | +19.1% | -0.1% | – | |
| Net income | -5.9% | +22.6% | +1.2% | – | |
| EPS, diluted | -1.0% | +25.4% | +2.8% | – | |
| Free cash flow | -3.4% | +56.8% | -9.6% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 75.9% | 23.8% | |
| Return on assets | – | 22.8% | 13.1% | |
| Current ratio | – | 1.66 | 1.98 | |
| Debt to equity | – | 0.46 | 0.11 | |
| Net debt to EBITDA | – | -0.49× | -0.43× | |
| Interest coverage | 4.1× | 23.4× | – | |
| Inventory turnover | – | 2.8× | 2.6× | |
| Capex to revenue | 4.3% | 1.4% | 2.3% | |
| Diluted shares | 83M | 88M | 82M |
Where the cash went
Fiscal 2021 to 2025, five years combined
YETI generated $1.05B from operations and spent $835.03M on capital expenditure, dividends and share buybacks. 28% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 8.9% | 1.48× | 1.81× | 23.8% |
| FY2024 | 9.6% | 1.42× | 1.76× | 24.0% |
| FY2023 | 10.2% | 1.40× | 1.90× | 27.2% |
| FY2022 | 5.6% | 1.47× | 2.08× | 17.2% |
| FY2021 | 15.1% | 1.54× | 2.27× | 52.7% |
| FY2020 | 14.3% | 1.60× | 3.33× | 75.9% |
| FY2019 | 5.5% | 1.60× | 7.58× | 66.8% |
| FY2018 | 7.4% | 1.51× | -21.81× | -244.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$165.39M
- Cash generatingOperating cash flow above zero$254.74M
- Return on assets improvedROA up on the prior year13.5% → 12.9%
- Earnings backed by cashOperating cash flow above net income$254.74M vs $165.39M
- Less leverageLong-term debt to assets fell5.7% → 5.5%
- Better liquidityCurrent ratio rose2.18 → 1.98
- No dilutionShare count did not rise86M → 82M
- Gross margin improvedGross margin up on the prior year58.11% → 57.41%
- More efficientAsset turnover rose1.41 → 1.45
See a number that looks wrong?