Latest Ratios: P/E Ratio 20.6x · EV/EBITDA 12.0x · ROE 23.8%. (2014–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.2B | $3.7B | $3.4B | $4.5B | $3.6B | $7.3B | $6.0B | $3.0B | $1.2B | — | — |
| Enterprise Value | $3.2B | $3.7B | $3.2B | $4.3B | $3.5B | $7.2B | $5.9B | $3.3B | $1.5B | — | — |
| P/E Ratio → | 20.62 | 22.09 | 19.20 | 26.69 | 40.11 | 34.51 | 38.68 | 59.97 | 21.51 | — | — |
| P/S Ratio | 1.70 | 1.96 | 1.84 | 2.73 | 2.26 | 5.21 | 5.51 | 3.29 | 1.59 | — | — |
| P/B Ratio | 5.25 | 5.63 | 4.56 | 6.25 | 6.84 | 14.18 | 20.85 | 24.61 | 42.78 | — | — |
| P/FCF | 14.95 | 17.25 | 15.37 | 21.24 | 81.89 | 90.93 | 17.51 | 78.61 | 8.60 | — | — |
| P/OCF | 12.45 | 14.36 | 12.91 | 15.83 | 35.70 | 50.12 | 16.41 | 34.56 | 7.04 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.98 | 1.74 | 2.57 | 2.21 | 5.12 | 5.44 | 3.59 | 1.91 | — | — |
| EV / EBITDA | 11.99 | 13.81 | 10.86 | 15.68 | 21.25 | 23.51 | 24.27 | 27.60 | 11.72 | — | — |
| EV / EBIT | 15.04 | 16.76 | 13.66 | 18.79 | 29.27 | 26.56 | 27.73 | 36.51 | 14.56 | — | — |
| EV / FCF | — | 17.44 | 14.52 | 20.00 | 80.29 | 89.38 | 17.29 | 85.79 | 10.32 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.4% | 57.4% | 58.1% | 56.9% | 47.9% | 57.8% | 57.6% | 52.0% | 46.0% | 42.8% | 49.1% |
| Operating Margin | 11.4% | 11.4% | 13.4% | 13.6% | 7.9% | 19.5% | 19.6% | 9.8% | 13.1% | 10.0% | 10.8% |
| Net Profit Margin | 8.9% | 8.9% | 9.6% | 10.2% | 5.6% | 15.1% | 14.3% | 5.5% | 7.4% | 2.4% | 5.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 23.8% | 23.8% | 24.0% | 27.2% | 17.2% | 52.7% | 75.9% | 66.8% | 199.4% | — | 90.7% |
| ROA | 12.8% | 12.8% | 13.6% | 14.3% | 8.3% | 23.2% | 22.8% | 8.8% | 11.2% | 2.9% | 10.9% |
| ROIC | 25.7% | 25.7% | 36.3% | 36.9% | 22.4% | 68.1% | 52.7% | 20.0% | 24.6% | 12.5% | 20.6% |
| ROCE | 22.8% | 22.8% | 27.2% | 28.8% | 18.6% | 48.2% | 47.2% | 22.8% | 29.6% | 16.8% | 26.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.35 | 0.35 | 0.23 | 0.24 | 0.31 | 0.36 | 0.62 | 2.84 | 11.32 | — | — |
| Debt / EBITDA | 0.85 | 0.85 | 0.59 | 0.65 | 0.99 | 0.61 | 0.73 | 2.92 | 2.58 | 5.61 | 5.38 |
| Net Debt / Equity | — | 0.06 | -0.25 | -0.36 | -0.13 | -0.24 | -0.26 | 2.25 | 8.56 | — | — |
| Net Debt / EBITDA | 0.15 | 0.15 | -0.63 | -0.97 | -0.43 | -0.41 | -0.31 | 2.31 | 1.95 | 4.98 | 5.17 |
| Debt / FCF | — | 0.19 | -0.85 | -1.23 | -1.61 | -1.56 | -0.22 | 7.18 | 1.72 | 4.00 | — |
| Interest Coverage | 498.25 | 498.25 | 425.91 | 140.92 | 27.01 | 81.39 | 23.40 | 4.12 | 3.27 | 1.96 | 4.07 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.98 | 1.98 | 2.18 | 2.30 | 1.76 | 1.91 | 1.66 | 2.12 | 1.59 | 1.99 | 2.40 |
| Quick Ratio | 1.11 | 1.11 | 1.36 | 1.45 | 0.85 | 1.12 | 1.17 | 1.03 | 0.81 | 0.84 | 0.62 |
| Cash Ratio | 0.56 | 0.56 | 0.95 | 1.10 | 0.57 | 0.77 | 0.88 | 0.43 | 0.43 | 0.35 | 0.15 |
| Asset Turnover | — | 1.44 | 1.42 | 1.28 | 1.48 | 1.29 | 1.48 | 1.45 | 1.51 | 1.24 | 1.53 |
| Inventory Turnover | 2.74 | 2.74 | 2.47 | 2.12 | 2.24 | 1.87 | 3.30 | 2.36 | 2.89 | 2.09 | 1.69 |
| Days Sales Outstanding | — | 27.63 | 23.97 | 21.08 | 18.18 | 28.33 | 21.87 | 33.03 | 27.80 | 38.34 | 16.58 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | 0.0% | 0.2% | — | — |
| Payout Ratio | — | — | — | — | — | — | — | 1.3% | 4.4% | 18.3% | 946.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.8% | 4.5% | 5.2% | 3.7% | 2.5% | 2.9% | 2.6% | 1.7% | 4.6% | — | — |
| FCF Yield | 6.7% | 5.8% | 6.5% | 4.7% | 1.2% | 1.1% | 5.7% | 1.3% | 11.6% | — | — |
| Buyback Yield | 9.4% | 8.1% | 5.9% | 0.0% | 2.8% | 0.0% | 0.0% | 0.5% | 0.2% | — | — |
| Total Shareholder Yield | 9.4% | 8.1% | 5.9% | 0.0% | 2.8% | 0.0% | 0.0% | 0.5% | 0.4% | — | — |
| Shares Outstanding | — | $82M | $86M | $87M | $87M | $89M | $88M | $86M | $84M | $84M | $84M |
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying YETI stock.
YETI Holdings, Inc.'s current P/E ratio is 20.6x. The historical average is 32.8x. This places it at the 13th percentile of its historical range.
YETI Holdings, Inc.'s current EV/EBITDA is 12.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.6x.
YETI Holdings, Inc.'s return on equity (ROE) is 23.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 57.7%.
Based on historical data, YETI Holdings, Inc. is trading at a P/E of 20.6x. This is at the 13th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
YETI Holdings, Inc. has 57.4% gross margin and 11.4% operating margin. Operating margin between 10-20% is typical for established companies.
YETI Holdings, Inc.'s Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Working capital volatility and recall overhang
Metrics are mathematically derived from official filings.
Premium Multiple Reflects Growth Re-acceleration
YETI's forward P/E of 13.82 and EV/EBITDA of 8.39 appear to price in a significant earnings recovery, as the market looks past the Q1 2026 trough and focuses on the strong Q2 2026 beat and raised guidance.
The current forward multiples represent a substantial discount to the trailing twelve-month P/E of 20.22, suggesting the market is pricing in the earnings momentum from the latest quarter. However, the PEG ratio of 7.28 indicates the stock is not cheap relative to its near-term growth trajectory, implying investors are paying a premium for the brand's perceived durability. Compared to peers like Helen of Troy and Newell Brands, which trade at depressed multiples due to operational struggles, YETI's valuation appears to reflect its superior profitability and brand strength, but it leaves little room for another growth deceleration.
Gross Margin Surge Drives Record Profitability
YETI's gross margin expanded to a record 66.7% in Q2 2026, a dramatic year-over-year increase that appears to be the primary driver behind the significant earnings beat and suggests powerful pricing power.
This gross margin level is a significant outlier compared to the company's historical 55-60% range and warrants scrutiny for sustainability. The expansion likely reflects a combination of favorable freight costs, a higher mix of direct-to-consumer sales, and potentially reduced promotional activity. The operating margin of 19.3% and net margin of 14.7% in Q2 2026 demonstrate strong operating leverage, as SG&A growth was contained while gross profit expanded. However, if the gross margin surge is driven by temporary tailwinds, the current profitability level may not be repeatable in subsequent quarters.
ROIC Recovery Driven by Margin Expansion
Return on invested capital rebounded to 9.0% in Q2 2026 from a low of 1.3% in Q1 2026, indicating the business can generate attractive returns when operating leverage is fully engaged.
The ROIC trend is highly volatile, swinging from 10.1% in Q4 2024 to 1.3% in Q1 2026, which suggests the company's returns are heavily influenced by seasonal working capital cycles and margin fluctuations. The Q2 2026 recovery appears to be driven primarily by the surge in net profit margin rather than a significant improvement in asset turnover, which remains modest at 0.38. This implies that YETI's ability to compound capital is more dependent on maintaining its premium pricing and margin structure than on improving operational efficiency.
Working Capital Cycle Remains a Key Cash Flow Driver
YETI's cash conversion cycle of 120 days in Q2 2026 is driven by a lengthy 191-day inventory holding period, which appears to be a structural feature of its seasonal business model and product mix.
The days inventory outstanding (DIO) of 191 is significantly higher than the days sales outstanding (DSO) of 29, indicating that inventory management is a far more critical lever for cash flow than receivables collection. The company's ability to negotiate favorable payment terms with suppliers is evident in the days payable outstanding (DPO) of 101, which helps partially offset the long inventory cycle. However, the volatility in the CCC from 91 days in Q4 2024 to 141 days in Q1 2024 highlights the significant cash flow impact of inventory build and sell-through patterns, which can mask the underlying cash generation of the business.
Conservative Leverage Provides Strategic Flexibility
YETI's debt-to-equity ratio of 0.42 remains conservative relative to peers, suggesting the company has ample capacity to fund operations and returns to shareholders without straining its balance sheet.
The increase in total debt from $174.8M in Q1 2024 to $253.0M in Q2 2026 appears to be a strategic choice rather than a sign of financial stress, as the company has simultaneously deployed over $500 million toward share repurchases. The interest coverage ratio, where available, has been extremely high (e.g., 1022.21 in Q3 2025), indicating that debt service is not a material concern. This conservative leverage profile provides a buffer against potential margin compression or demand softening, and gives management flexibility to pursue growth initiatives or further capital returns.
The Misapplied Metric: Inventory Turnover
The most commonly misapplied ratio to YETI is inventory turnover, as its high DIO of 191 days is often misinterpreted as poor efficiency rather than a deliberate strategy to support its premium, seasonal product mix.
Analysts frequently benchmark YETI's inventory turnover against faster-moving consumer goods companies, which is inappropriate given its business model. YETI's long inventory holding period is a structural feature driven by its seasonal product launches, limited-edition colorways, and the need to maintain a deep assortment of high-ticket items like coolers. A more appropriate metric would be to analyze inventory turnover by product category or to compare it against other premium, seasonal outdoor brands. Focusing solely on the headline DIO figure obscures the fact that YETI's inventory is largely composed of high-margin, non-perishable goods that retain their value, unlike the inventory of a typical retailer.