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Leisure · Consumer Cyclical · Fiscal year ends Jan 2
YETI reported revenue of $1.9B in the fiscal year ended Jan 2026, up 2.1% from the year before. Operating income was $214M, an operating margin of 11.4%, and net income was $165M. Operating cash flow of $255M less capital expenditure of $43M left free cash flow of $212M. It held more cash than debt (net cash $116M).
Ranks among the 21 leisure companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | 1,411 | 1,595 | 1,659 | 1,830 | 1,868 |
| Cost of revenue | 595 | 832 | 716 | 767 | 796 |
| Gross profit | 816 | 763 | 943 | 1,063 | 1,073 |
| Research & development | 13.7 | 15.4 | 15.5 | 21.1 | 25.2 |
| Selling, general & admin | 541 | 637 | 718 | 818 | 859 |
| Operating income | 275 | 126 | 225 | 245 | 214 |
| Interest expense | 3.3 | 4.5 | 0.9 | – | – |
| Pre-tax income | 268 | 116 | 226 | 233 | 220 |
| Income tax | 55.8 | 26.5 | 56.1 | 57.2 | 54.9 |
| Net income | 213 | 89.7 | 170 | 176 | 165 |
| Diluted EPS | 2.40 | 1.03 | 1.94 | 2.05 | 2.03 |
| Diluted shares | 88.7 | 87.2 | 87.4 | 85.8 | 81.6 |
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 312 | 235 | 439 | 359 | 188 |
| Receivables | 110 | 79.4 | 95.8 | 120 | 141 |
| Inventory | 319 | 371 | 337 | 310 | 291 |
| Current assets | 770 | 719 | 914 | 827 | 660 |
| Net PP&E | 119 | 125 | 131 | 126 | 142 |
| Goodwill | 54.3 | 54.3 | 54.3 | 72.6 | 72.3 |
| Total assets | 1,096 | 1,077 | 1,297 | 1,286 | 1,235 |
| Payables | 191 | 141 | 190 | 158 | 140 |
| Deferred revenue | 20.8 | 7.7 | 22.4 | 10.5 | 9.5 |
| Current liabilities | 404 | 409 | 398 | 380 | 334 |
| Short-term debt | 22.5 | 22.5 | 4.2 | 4.2 | 4.2 |
| Long-term debt | 95.7 | 71.7 | 78.6 | 72.8 | 68.3 |
| Total liabilities | 579 | 550 | 574 | 546 | 585 |
| Shareholders' equity | 518 | 526 | 724 | 740 | 650 |
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 147 | 101 | 286 | 261 | 255 |
| Capital expenditure | 56.1 | 45.9 | 50.7 | 41.8 | 42.7 |
| Free cash flow | 90.4 | 55.0 | 235 | 220 | 212 |
| Depreciation & amortisation | 32.1 | 39.8 | 46.4 | 48.1 | 54.2 |
| Stock-based compensation | 15.5 | 17.8 | 29.8 | 40.7 | 47.7 |
| Acquisitions | – | 0.0 | 0.0 | 36.2 | 0.0 |
| Share buybacks | 0.0 | 100 | 0.0 | 200 | 298 |
| Dividends paid | 0.0 | – | – | – | – |
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 13.1% | 4.0% | 10.3% | 2.1% |
| Operating income growth (YoY) | – | −54.0% | 78.4% | 8.8% | −13.0% |
| EPS growth (YoY) | – | −57.1% | 88.3% | 5.7% | −1.0% |
| Gross margin | 57.8% | 47.9% | 56.9% | 58.1% | 57.4% |
| Operating margin | 19.5% | 7.9% | 13.6% | 13.4% | 11.4% |
| Net margin | 15.1% | 5.6% | 10.2% | 9.6% | 8.9% |
| Return on equityBlank when equity is negative | 41.1% | 17.0% | 23.5% | 23.7% | 25.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 39.7% | 18.9% | 25.1% | 27.1% | 23.7% |
| Free cash flow margin | 6.4% | 3.4% | 14.2% | 12.0% | 11.3% |
| Cash conversion (CFO ÷ net income) | 0.69x | 1.12x | 1.68x | 1.49x | 1.54x |
| Receivable days | 28 | 18 | 21 | 24 | 28 |
| Inventory days | 196 | 163 | 172 | 148 | 133 |
| Payable days | 117 | 62 | 97 | 75 | 64 |
| Interest cover | 82.3x | 28.3x | 239x | – | – |
| Debt ÷ equity | 0.23x | 0.18x | 0.11x | 0.10x | 0.11x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −194 | −141 | −356 | −282 | −116 |
| Current ratio | 1.91x | 1.76x | 2.30x | 2.18x | 1.98x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.