Yeti Holdings, Inc. key statistics and ratios

In fiscal 2025, Yeti Holdings, Inc. had return on equity of 23.8%, an operating margin of 11.4%, debt equal to 11.5% of equity and a current ratio of 1.98. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Yeti Holdings, Inc.: financial ratios, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Jan 2021	2021Jan 2022	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Jan 2026	LTMJul 2026
Gross margin	50.5%	46.1%	49.2%	52.0%	57.6%	57.8%	47.9%	56.9%	58.1%	57.4%	59.2%
Operating margin	10.8%	10.0%	13.1%	9.8%	19.6%	19.5%	7.9%	13.6%	13.4%	11.4%	12.2%
Net margin	5.9%	2.4%	7.4%	5.5%	14.3%	15.1%	5.6%	10.2%	9.6%	8.9%	9.2%
Free-cash-flow margin	−0.8%	16.5%	19.9%	6.0%	32.1%	6.4%	3.4%	14.2%	12.0%	11.3%	—
Return on equity	—	—	—	66.8%	75.9%	52.7%	17.2%	27.2%	24.0%	23.8%	28.4%
Return on assets	—	3.0%	11.2%	8.8%	22.8%	23.2%	8.3%	14.3%	13.6%	13.1%	14.1%
Asset turnover	—	1.24	1.51	1.60	1.60	1.54	1.47	1.40	1.42	1.48	1.53
Current ratio	—	2.00	1.59	2.12	1.66	1.91	1.76	2.30	2.18	1.98	1.75
Debt to equity	—	—	>999%	245.9%	47.1%	23.5%	18.5%	12.2%	11.0%	11.5%	16.5%
Interest cover (operating income ÷ interest)	4.1x	2.0x	3.3x	4.1x	23.4x	82.3x	28.3x	—	—	—	—
Effective tax rate	25.3%	52.0%	17.0%	25.0%	24.1%	20.8%	22.8%	24.8%	24.5%	24.9%	24.0%
R&D as % of revenue	3.6%	1.4%	1.4%	2.2%	1.0%	1.0%	1.0%	0.9%	1.2%	1.3%	—
SG&A as % of revenue	39.8%	36.1%	36.1%	42.2%	38.0%	38.4%	39.9%	43.3%	44.7%	46.0%	47.0%
Capital spending as % of revenue	4.3%	6.6%	2.7%	3.5%	1.4%	4.0%	2.9%	3.1%	2.3%	2.3%	—
Free cash flow ÷ net income	−13.9%	685.4%	268.7%	108.7%	225.2%	42.5%	61.3%	138.5%	125.0%	128.2%	—
Dividends ÷ net income	946.1%	18.3%	4.4%	1.3%	0.0%	0.0%	—	—	—	—	—
Dividends and buybacks ÷ free cash flow	—	2.7%	2.9%	1.2%	0.0%	0.0%	182.0%	0.0%	91.1%	140.4%	—

US$ thousands unless shown otherwise. Fiscal quarters.

Yeti Holdings, Inc.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Jan 2026	2026 Q1Apr 2026	2026 Q2Jul 2026
Gross margin	58.0%	59.7%	57.4%	57.8%	55.9%	58.4%	55.3%	66.7%
Operating margin	14.6%	15.1%	6.2%	13.9%	11.1%	12.9%	3.3%	19.3%
Net margin	11.8%	9.7%	4.7%	11.5%	8.1%	10.0%	2.6%	14.7%
Free-cash-flow margin	15.4%	39.4%	−25.4%	11.2%	17.0%	27.8%	−11.5%	—
Current ratio	2.58	2.18	2.58	2.52	2.16	1.98	2.10	1.75
Debt to equity	9.7%	10.4%	9.3%	8.7%	9.9%	11.2%	10.2%	15.8%
SG&A as % of revenue	43.5%	44.6%	51.3%	43.9%	44.7%	45.5%	52.0%	47.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 5 checks passed · July 4, 2026

What it owns · $1.3bn

Short-term assets $717mLonger-term assets $585m

What it owes, and who funded it · $1.3bn

Short-term liabilities $410mLonger-term liabilities $283mShareholders' equity $610m

Short-term assets cover short-term liabilities $717m of assets due within a year against $410m of liabilities due within a year.
Short-term assets cover long-term liabilities $717m short-term assets against $283m of longer-dated liabilities.
More cash than debt $60m of cash against $96m of debt.
Debt below 40% of shareholders' equity Debt is 16% of equity.
Debt burden no higher than five years ago Debt to equity moved from 18% to 16% over five years.
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 Yeti Holdings, 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.

Moat

76 /100

Strong moat

How hard Yeti Holdings's competitive advantage looks for rivals to wear away, judged from 9 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 16.8% of total assets over 8 years.
Pricing power 16 / 20

Gross margin has been a median 55.0%, moving by 4.7 percentage points (standard deviation) across 9 years.
Durability 9 / 20

Operating margin has been a median 12.9%; its worst year was 5.7%.
Cash conversion 16 / 20

Free cash flow was positive in 8 of 8 years, at a median 11.1% of revenue.
Discipline 20 / 20

The diluted share count fell 11.8% over five years; stock-based pay has been a median 1.9% 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 (81 before it).

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

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Figures from Yeti Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Yeti Holdings, Inc.