Is the business good?
How good a business is YETI?
YETI Holdings, Inc. earns 27% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
27%
Return on invested capital · cost of capital 9.0% · 18 points above what the capital costs: growth creates value
- Operating margin
- 11%
Operating margin · Leisure median 11% · 12 months to Q1 2026
- Cash conversion
- 1.46×
Cash conversion · 1.39× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −8.1%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 20% |
| FY2021 | 19% |
| FY2022 | 7.9% |
| FY2023 | 14% |
| FY2024 | 13% |
| FY2025 | 11% |
Details›
- Gross margin12 months to Q1 2026
- 57%
- Operating margin12 months to Q1 2026
- 11%
- Net margin12 months to Q1 2026
- 8.4%
- Free cash flow margin
- 12%
- Revenue, trailing twelve months
- $1.90B
- Free cash flow, trailing twelve months
- $231M
- Net income, trailing twelve months
- $159M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 27%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.