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Yelp Inc (YELP) stock

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NYSE: YELP NYSE Interactive Media & Services Next results ~November 5, 2026

B Fundamentals grade

Yelp Inc is a US-listed company in the interactive media & services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$45

Cash-flow model

Base case. Range ~$34–$61 across our lower- and higher-growth cases (-1.7%–8.3% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 129% above it.

Price used: $19.81, November 2, 2026

Yelp Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 9 selling0 purchases and 57 sales by directors and officers, last 12 monthsInsider trades
  • Funds129 adding, 175 cuttingOf 45 active managers that changed their stake, 23 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Yelp files

Where Yelp stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.47bn, up 1.5% on a year earlier, slower than the 2.1% growth a quarter earlier. Free-cash-flow margin held at 20.2%. The diluted share count is down 11.1% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $45.57 a share, against a share price of $19.23. At that price, our model says the market is pricing in cash flow shrinking about 11.2% a year for five years, slower than the 7.4% a year revenue growth it has delivered.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Yelp Inc's trailing-twelve-month revenue grew 1.5% year on year, with a free-cash-flow margin of 20.2%. Where it stands out: change in share count of -11.1% ranks 7 of 55 interactive media & services companies we cover.

Our discounted-cash-flow model values the business at ~$45 per share in the base case (~$34–$61 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 4.4% while net income fell 15.2%: a 20pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $19.81 is 129% below our value per share of $45.
  • Strong cash generation. 20.2% of revenue turned into free cash flow, against a median of 8.9% for interactive media & services companies we cover.
  • Shrinking share count. Diluted shares fell 11.1% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Insiders selling. 9 insiders sold $17M of stock over the past 365 days and none bought (100% under pre-set trading plans).
  • Heavily shorted. 34.0% of the shares available to trade are sold short (7.8 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$0.57 against an average estimate of $0.36: beat by 56.7%
Revenue
$376m, up 1.4% on a year earlier
Share reaction
-0.5% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.81

Yelp's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.8%
  • 1 week+1.9%
  • 1 month+8.5%
  • This year-34.8%
  • 1 year-39.9%
  • 5 years-49.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.5B
Operating margin
11.7%
Net margin
8.6%
EPS (TTM, diluted)
$2.09

Growth

Revenue growth
+1.5%
Change in growth rate
−0.6 pts
Share count change
−11.1%

Cash

Free cash flow (TTM)
$297M
FCF margin
20.2%
Stock pay % of revenue
8.3%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Announcement
  3. Announcement
  4. Results
  5. Product
  6. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Yelp Inc valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 11.5% a year for five years.That is slower than the 7.4% a year revenue growth Yelp has delivered.

  • Priced in-11.5%
  • Last 12 months1.5%
  • 3 years a year5.1%
  • 5 years a year7.4%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($19.35, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$45
Price used
$19.35close November 3, 2026
Implied change
▲ +135%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Yelp Inc's free cash flow after stock-based pay with after-tax interest added back ($142M, FY2026 Q2 TTM), growing 1.8% and 3.2% in the next two years (forecasts, guidance and its record), then back to 3.3% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$34–~$60 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Yelp Inc's free cash flow after stock-based pay ( $142M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Yelp Inc as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.89 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$45 ~$34–$61 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$24 ~$20–$42 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$23 ~$15–$34 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$22 ~$19–$26 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$32 ~$22–$45 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Yelp Inc with Interactive Media & Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▲ +3%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $37$51$68$92$122$161
8.5% $28$38$51$68$89$117
10% $23$31$40$53$70$91

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$28.80$38.13$41.96$34.99$34.83$32.67$36.24$27.34$47.34$38.70$30.39$19.81
Market value$2.2bn$2.9bn$3.7bn$3.1bn$2.7bn$2.4bn$2.8bn$2.0bn$3.5bn$2.7bn$2.0bn$1.2bn
+ Net debt (− = net cash)−$160m−$255m−$548m−$333m−$170m−$596m−$480m−$306m−$314m−$217m−$216m$6m
Enterprise value$2.0bn$2.7bn$3.1bn$2.8bn$2.5bn$1.8bn$2.4bn$1.7bn$3.2bn$2.5bn$1.8bn$1.2bn
Multiples
Price / sales 3.9x4.1x4.3x3.3x2.7x2.7x2.8x1.7x2.6x1.9x1.4x0.8x
Price / earnings ——23.9x56.1x66.4x—71.8x55.2x35.1x20.6x13.6x9.5x
Price / free cash flow 82.0x28.3x26.6x26.9x16.2x16.5x15.5x12.5x12.5x11.0x6.1x4.0x
EV / EBITDA n/m80.7x14.1x40.3x30.0x151.4x27.2x16.5x26.2x13.1x7.5x5.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

64 /100

Moderate moat

How hard Yelp's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 19.8% of total assets over 10 years.

  • Pricing power 20 / 20

    Gross margin has been a median 92.8%, moving by 1.0 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 4.7%; its worst year was -3.7%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 10 of 10 years, at a median 17.1% of revenue.

  • Discipline 10 / 20

    The diluted share count fell 19.8% over five years; stock-based pay has been a median 12.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (69 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $369m and EPS of $0.81 (range $0.73 to $0.87) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.77 −21% $1.5bn +0%
Next $2.48 +41% $1.5bn +3%

Next year's EPS estimate has moved −3.7% in 90 days, across 8 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.36 $0.57 +56.7%
Mar 2026 $0.26 $0.30 +13.8%
Dec 2025 $0.58 $0.61 +5.2%
Sept 2025 $0.53 $0.61 +16.1%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Yelp Inc's revenue by +1.8% next year and +3.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+1.1%, weight 66%) and the company's own record (+3.3%, weight 34%) . How the weights are set.

Analyst recommendations

11 analysts, Oct 2026
Buy218%
Hold655%
Sell327%

Monthly trend

  1. Oct 2026261211
  2. Sep 2026261211
  3. Aug 2026261110
  4. Jul 2026261110

Counts of recommendations published by analysts covering Yelp Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
34.0%
of tradable shares
Days to cover
7.79
at average volume
Short interest, 1 month
+21%
to September 30, 2026
Held by institutions
—
of shares
Held by insiders
6.4%
of shares
Employees
5,168
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −39.9%

$32.98 on October 31, 2025 to $19.81

ThenNowEffect
Revenue (last 12 months) $1.5bn $1.5bn +1.5%
Net margin 10.3% 8.6% −16.4%
P/E multiple 15.1x 9.5x −37.1%
Share count 68m 61m +12.5%

Biggest factor: p/e multiple.

Last 3 years −55.7%

$44.73 on November 3, 2023 to $19.81

ThenNowEffect
Revenue (last 12 months) $1.3bn $1.5bn +16.2%
Net margin 3.4% 8.6% +154.3%
P/E multiple 75.8x 9.5x −87.5%
Share count 73m 61m +19.7%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
YELP+11%−25%+73%−18%−22%−35%
Industry peers (median)−26%−54%−6%−21%−7%−22%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
YELP58%33%67%42%50%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
YELP−22%−34%−18%−30%−33%−43%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 72% from September 20, 2018 to March 18, 2020. Getting back needed a 260% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$17.59 – $33.06
From 52-week high
−40.1%
vs 50-day average
−1.2%
vs 200-day average
−16.3%
Volatility (1 year)
44%
Beta vs S&P 500
0.10

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±6.5%
After a week
3 up, 9 down
typical move ±8.9%
After a month
5 up, 7 down
typical move ±8.6%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −0.5% +0.5% −5.1% −15.7%
May 7, 2026 −4.3% +0.5% −25.5% −18.9%
February 12, 2026 −9.6% −1.5% −8.4% +1.9%
November 6, 2025 −10.1% −1.0% −9.5% −8.4%
August 7, 2025 −9.1% +0.7% −8.8% −7.1%
May 8, 2025 +9.7% +0.6% +11.3% +4.2%
February 13, 2025 −5.9% +1.1% −10.0% −11.6%
November 7, 2024 −1.9% +1.2% −0.6% +7.8%
August 8, 2024 +0.4% +2.8% +2.3% +0.4%
May 9, 2024 −6.2% +0.7% −3.2% −7.2%
February 15, 2024 −13.1% +0.2% −17.8% −13.3%
November 2, 2023 +7.1% +2.8% +4.2% +6.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Yelp Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Yelp Inc in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Yelp Inc
$1.3B $1.4B $1.4B $1.5B $1.5B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.3B Revenue (TTM), FY23 Q4: $1.3B Revenue (TTM), FY24 Q1: $1.4B Revenue (TTM), FY24 Q2: $1.4B Revenue (TTM), FY24 Q3: $1.4B Revenue (TTM), FY24 Q4: $1.4B Revenue (TTM), FY25 Q1: $1.4B Revenue (TTM), FY25 Q2: $1.5B Revenue (TTM), FY25 Q3: $1.5B Revenue (TTM), FY25 Q4: $1.5B Revenue (TTM), FY26 Q1: $1.5B Revenue (TTM), FY26 Q2: $1.5B $1.5B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.3B
FY23 Q4 $1.3B
FY24 Q1 $1.4B
FY24 Q2 $1.4B
FY24 Q3 $1.4B
FY24 Q4 $1.4B
FY25 Q1 $1.4B
FY25 Q2 $1.5B
FY25 Q3 $1.5B
FY25 Q4 $1.5B
FY26 Q1 $1.5B
FY26 Q2 $1.5B
Revenue growth, TTM YoY Yelp Inc
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 12.6% Revenue growth, TTM YoY, FY23 Q4: 12.0% Revenue growth, TTM YoY, FY24 Q1: 10.4% Revenue growth, TTM YoY, FY24 Q2: 8.7% Revenue growth, TTM YoY, FY24 Q3: 6.8% Revenue growth, TTM YoY, FY24 Q4: 5.6% Revenue growth, TTM YoY, FY25 Q1: 5.9% Revenue growth, TTM YoY, FY25 Q2: 5.4% Revenue growth, TTM YoY, FY25 Q3: 5.3% Revenue growth, TTM YoY, FY25 Q4: 3.7% Revenue growth, TTM YoY, FY26 Q1: 2.1% Revenue growth, TTM YoY, FY26 Q2: 1.5% 1.5%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 12.6%
FY23 Q4 12.0%
FY24 Q1 10.4%
FY24 Q2 8.7%
FY24 Q3 6.8%
FY24 Q4 5.6%
FY25 Q1 5.9%
FY25 Q2 5.4%
FY25 Q3 5.3%
FY25 Q4 3.7%
FY26 Q1 2.1%
FY26 Q2 1.5%
Operating margin (TTM) Yelp Inc
4% 6% 8% 10% 12% 14% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 6.7% Operating margin (TTM), FY23 Q4: 5.9% Operating margin (TTM), FY24 Q1: 7.1% Operating margin (TTM), FY24 Q2: 8.6% Operating margin (TTM), FY24 Q3: 8.8% Operating margin (TTM), FY24 Q4: 10.7% Operating margin (TTM), FY25 Q1: 11.8% Operating margin (TTM), FY25 Q2: 12.6% Operating margin (TTM), FY25 Q3: 12.9% Operating margin (TTM), FY25 Q4: 12.6% Operating margin (TTM), FY26 Q1: 12.4% Operating margin (TTM), FY26 Q2: 11.7% 11.7%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 6.7%
FY23 Q4 5.9%
FY24 Q1 7.1%
FY24 Q2 8.6%
FY24 Q3 8.8%
FY24 Q4 10.7%
FY25 Q1 11.8%
FY25 Q2 12.6%
FY25 Q3 12.9%
FY25 Q4 12.6%
FY26 Q1 12.4%
FY26 Q2 11.7%
FCF margin (TTM) Yelp Inc
16% 18% 20% 22% 24% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 18.3% FCF margin (TTM), FY23 Q4: 20.9% FCF margin (TTM), FY24 Q1: 20.5% FCF margin (TTM), FY24 Q2: 19.5% FCF margin (TTM), FY24 Q3: 18.8% FCF margin (TTM), FY24 Q4: 17.6% FCF margin (TTM), FY25 Q1: 18.8% FCF margin (TTM), FY25 Q2: 19.6% FCF margin (TTM), FY25 Q3: 21.2% FCF margin (TTM), FY25 Q4: 22.1% FCF margin (TTM), FY26 Q1: 19.2% FCF margin (TTM), FY26 Q2: 20.2% 20.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 18.3%
FY23 Q4 20.9%
FY24 Q1 20.5%
FY24 Q2 19.5%
FY24 Q3 18.8%
FY24 Q4 17.6%
FY25 Q1 18.8%
FY25 Q2 19.6%
FY25 Q3 21.2%
FY25 Q4 22.1%
FY26 Q1 19.2%
FY26 Q2 20.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Yelp took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $1.5B
  2. Other income $19.5M · 1.3%
  3. Research and development $298M · 20.3%
  4. Selling, general and admin $774M · 52.8%
  5. Other operating costs $209M · 14.2%
  6. Operating income $185M · 12.6%
  7. Income tax $58.4M · 4.0%
  8. Net income $146M · 9.9%

Shares of revenue. Source: Yelp's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 48 83 138 233 378 550 716 851 943 1,014 873 1,032 1,194 1,337 1,412 1,465 1,473
Gross profit 45 77 128 216 353 499 656 780 885 952 816 954 1,088 — — — —
EBITDA −7 −12 −12 3 29 8 33 221 69 85 12 87 103 121 191 235 233
Operating income −10 −16 −19 −9 11 −21 −2 180 26 36 −39 32 58 79 151 185 173
Net income −10 −17 −19 −10 36 −33 −2 153 55 41 −19 40 36 99 133 146 127
Diluted EPS −$0.71 −$1.10 −$0.35 −$0.15 $0.48 −$0.44 −$0.02 $1.76 $0.62 $0.52 −$0.27 $0.50 $0.50 $1.35 $1.88 $2.24 $2.09
Growth (year on year)
Revenue — +74.5% +65.2% +69.4% +62.0% +45.6% +30.3% +18.8% +10.8% +7.6% −13.9% +18.2% +15.7% +12.0% +5.6% +3.7% +1.5%
EBITDA — — — — — −71.1% — +562.6% −68.9% +23.5% −86.1% — +18.4% +17.5% +57.9% +22.5% +1.8%
Operating income — — — — — −292.8% — — −85.6% +37.1% −209.2% — +85.2% +35.5% +91.1% +22.2% −5.5%
Net income — — — — — −190.2% — — −63.8% −26.1% −147.5% — −8.4% +172.9% +34.0% +9.6% −15.2%
Diluted EPS — — — — — −191.7% — — −64.8% −16.1% −151.9% — 0.0% +170.0% +39.3% +19.1% −4.6%
Margins
Gross margin 93.4% 92.9% 92.8% 92.9% 93.5% 90.7% 91.6% 91.7% 93.9% 93.8% 93.4% 92.4% 91.1% — — — —
EBITDA margin −15.0% −14.3% −8.4% 1.1% 7.6% 1.5% 4.7% 26.0% 7.3% 8.4% 1.4% 8.5% 8.6% 9.1% 13.6% 16.0% 15.8%
Operating margin −19.9% −19.4% −13.6% −3.8% 2.9% −3.9% −0.3% 21.1% 2.7% 3.5% −4.4% 3.1% 4.9% 5.9% 10.7% 12.6% 11.7%
Net margin −20.0% −20.0% −13.9% −4.3% 9.7% −6.0% −0.2% 18.0% 5.9% 4.0% −2.2% 3.8% 3.0% 7.4% 9.4% 9.9% 8.6%
Free-cash-flow margin −23.8% −5.5% −5.5% 2.2% 7.6% 4.8% 14.5% 16.1% 12.2% 16.5% 16.6% 17.9% 13.4% 20.9% 17.6% 22.1% 20.2%
Cash flow
Cash from operations −8 0 −0 21 58 57 127 168 160 205 177 213 192 306 286 372 350
Capital spending 4 5 8 16 29 31 23 30 45 38 32 28 32 27 37 48 52
Free cash flow −11 −5 −8 5 29 26 104 137 115 167 145 184 160 279 248 324 297
Stock-based pay 1 5 15 27 42 61 86 100 114 122 125 152 156 173 158 134 122
Free cash flow after stock pay −13 −9 −23 −21 −13 −35 18 37 1 46 20 33 4 106 90 190 176
Balance sheet
Cash 27 22 95 390 247 172 272 548 333 170 596 480 306 314 217 216 94
Total debt 0 0 8 5 8 12 18 — 0 0 0 0 0 0 0 0 100
Net debt (negative = net cash) −27 −21 −87 −385 −240 −160 −255 −548 −333 −170 −596 −480 −306 −314 −217 −216 6
Diluted shares 14m 15m 54m 66m 77m 75m 77m 87m 89m 78m 73m 79m 73m 74m 71m 65m 61m
Returned to shareholders
Buybacks — — — 1 1 0 0 13 187 481 24 263 200 200 251 291 336
Total returned — — — 1 1 0 0 13 187 481 24 263 200 200 251 291 336

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $991m
Short-term assets $294mLonger-term assets $697m
What it owes, and who funded it · $991m
Short-term liabilities $168mLonger-term liabilities $178mShareholders' equity $645m
  • Short-term assets cover short-term liabilities $294m of assets due within a year against $168m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $294m short-term assets against $178m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Yelp Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$336M
Returned to shareholders
113%
of free cash flow
Buybacks, last 3 fiscal years
$742M
Diluted share count
−11.1%
year over year
Total shareholder yield
30.9%
dividends 0.0% + buybacks 30.9% of market value
Days sales outstanding
39 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in interactive media & services
Last 12 months unless stated YELP MOMO WBTN MAX QNST TREE Median
Revenue, last 12 months $1.5bn $1.5bn $1.4bn $1.3bn $1.3bn $1.3bn $615m
Revenue growth, last 12 months 1.5% 2.4% −0.5% 15.2% 18.3% 25.3% 2.4%
Revenue growth, 3-year average 5.1% 679.6% — 48.5% 30.6% 15.5% 5.0%
Revenue growth, latest quarter 1.4% — −2.8% 22.7% 42.7% 25.3% 2.4%
Gross margin 92.4% 37.8% 24.4% 14.8% 11.3% 29.8% 60.4%
Operating margin 11.7% 13.1% −3.8% 7.2% 2.7% 8.2% 0.3%
Operating margin, 3-year average 11.0% 8.0% −4.9% 4.2% −0.4% 3.2% −0.4%
Net margin 8.6% 7.8% −25.1% 8.4% 6.3% 14.3% 3.8%
Cash from operations / revenue 23.7% 11.4% 0.4% 4.3% 10.1% 6.8% 11.4%
Free-cash-flow margin 20.2% 6.7% −0.3% 4.2% 9.9% 5.8% 7.5%
Free-cash-flow margin, 3-year average 19.8% 15.6% 1.3% 5.8% 6.2% 5.8% 7.2%
Stock pay / revenue 8.3% 1.6% 2.6% 2.4% 2.9% 1.9% 3.7%
Change in share count −11.1% −9.4% 2.4% 9.7% −0.2% 7.2% 2.0%

Median of all 63 companies we cover in interactive media & services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

63 interactive media & services companies
Measure Company Peer median Rank
Revenue growth Growth 1.5% 2.4% 35 of 63
Change in growth rate Growth -0.6pp -0.2pp 34 of 63
Operating margin Profitability 11.7% 0.3% 17 of 63
Net margin Profitability 8.6% 3.8% 20 of 63
Free-cash-flow margin Cash generation 20.2% 8.9% 16 of 59
Stock pay as % of revenue Cash generation 8.3% 3.9% 43 of 61
Change in share count Balance sheet -11.1% 1.7% 7 of 55
Days sales outstanding Balance sheet 39 days 49 days 21 of 54

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Advertising $1.4B 95.0% ▲ 3.1%
Advertising Services $948M 68.1% ▲ 7.8%
Advertising Restaurants and Other $444M 31.9% ▼ 5.6%
Other Revenue $73.7M 5.0% ▲ 16.9%
Geography
Region Revenue Share YoY
United States $1.5B 99.3% ▲ 3.8%
Outside the US $9.7M 0.7% ▼ 7.9%

From Yelp Inc's 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.5B
Institutions reporting
290
Shares held vs prior quarter
▼ 2.3%
Positions opened / closed
38 / 55

Top buyers and sellers, Q2 2026: 129 institutions bought and 175 sold ; the biggest buyer was Millennium Management LLC (+706K shares) and the biggest seller Vanguard Portfolio Management LLC (−814K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $237M 9.7M 16.2% ▼ 3.0%
Vanguard Portfolio Management LLC $102M 4.2M 7.0% ▼ 16.4%
Dimensional Fund Advisors LP $76.9M 3.1M 5.2% ▲ 16.9%
LSV Asset Management $68.1M 2.8M 4.6% ▼ 1.9%
Vanguard Capital Management LLC $57.9M 2.4M 4.0% ▼ 9.2%
State Street Corp $55.5M 2.3M 3.8% ▼ 5.4%
Acadian Asset Management LLC $53.3M 2.2M 3.6% ▼ 1.6%
American Century Companies Inc $45.6M 1.9M 3.1% ▲ 24.2%
Geode Capital Management, LLC $45.4M 1.8M 3.1% ▲ 1.1%
Allianz Asset Management Gmbh $37M 1.5M 2.5% ▲ 2.3%
FMR LLC $30.8M 1.3M 2.1% ▲ 79.0%
Morgan Stanley $30.7M 1.3M 2.1% ▲ 6.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Yelp Inc's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $17.4M 57 trades by 9 insiders · 100% under pre-set plans
Net ▼ $17.4M net selling
Insider Date Trade Shares Price Value
Schwarzbach David A Chief Financial Officer October 21, 2026 Sell pre-set plan 7,500 $20.00 $150,000
Schwarzbach David A Chief Financial Officer October 15, 2026 Sell pre-set plan 7,500 $20.00 $150,000
Amara Carmen Chief People Officer October 1, 2026 Sell pre-set plan 500 $18.60 $9,300
Amara Carmen Chief People Officer September 1, 2026 Sell pre-set plan 500 $22.14 $11,070
Levy Alexander Coleman Chief Technology Officer August 24, 2026 Sell pre-set plan 3,829 $23.40 $89,599
Schwarzbach David A Chief Financial Officer August 21, 2026 Sell pre-set plan 8,809 $23.19 $204,281
Nachman Joseph R Chief Operating Officer August 3, 2026 Sell pre-set plan 4,500 $26.91 $121,095
Amara Carmen Chief People Officer July 2, 2026 Sell pre-set plan 23,233 $27.00 $627,291
Nachman Joseph R Chief Operating Officer July 1, 2026 Sell pre-set plan 4,500 $25.00 $112,500
Amara Carmen Chief People Officer July 1, 2026 Sell pre-set plan 1,500 $24.95 $37,425
Nachman Joseph R Chief Operating Officer June 30, 2026 Sell pre-set plan 9,000 $25.00 $225,000
Amara Carmen Chief People Officer June 5, 2026 Sell pre-set plan 1,000 $24.00 $24,000

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 4 trades and filings

No trades in Yelp Inc disclosed in the last 12 months; 4 earlier trades on record.

  • Lamar Smith(TX):Sale (partial), $1,001 - $15,000, traded May 7, 2018, filed June 11, 2018
  • Lamar Smith(TX):Sale (partial), $1,001 - $15,000, traded April 26, 2018, filed May 8, 2018
  • Lamar Smith(TX):Purchase, $1,001 - $15,000, traded October 10, 2017, filed November 20, 2017

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 12, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Yelp Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Yelp Inc in brief

What does Yelp Inc do?
Yelp Inc is a US-listed company in the interactive media & services industry. Its financial year ends in December.
What is Yelp Inc's stock ticker?
Yelp Inc trades under the ticker YELP on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Yelp Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Yelp Inc reported revenue of $1.5B, 1.5% higher than a year earlier, according to its SEC filings.
What is Yelp Inc's free cash flow?
Yelp Inc's free-cash-flow margin is 20.2% of revenue over the trailing twelve months, ranking 16 of the 59 interactive media & services companies we cover.
What is Yelp Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Yelp Inc's free cash flow after stock-based pay gives ~$45 per share in the base case, and ~$34–$61 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Yelp Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Yelp Inc buying back stock, and does it pay a dividend?
Yelp Inc spent $336M on share repurchases over the trailing twelve months, and its diluted share count fell 11.1% over the year.
What is Yelp Inc's market cap?
On November 2, 2026, Yelp Inc's market capitalisation was about $1.2B, with a price-to-earnings ratio of 9.5 and net debt of $5.9M. Market figures come from third-party market data and may be delayed.
Who are Yelp Inc's competitors?
In our Interactive Media & Services peer group, the companies closest to Yelp Inc are Hello Group Inc., Webtoon Entertainment Inc., Mediaalpha, Inc., Quinstreet, Inc and Lendingtree, Inc. The side-by-side comparison below sets their revenue, margins and growth against Yelp Inc's.
Are insiders buying or selling Yelp Inc stock?
Over the last 12 months, Yelp Inc's directors and officers reported 0 open-market purchases and 57 sales on Form 4. The insider trading page charts every trade.
When is Yelp Inc's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Yelp Inc announces its own schedule.