YETI Holdings, Inc. (YETI) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-48.9%

$23.20

vs $45.42 price

Levered DCF

$38.53

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

6.06

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	21.87×	19.01×	26.42×	39.72×	34.09×	38.25×	58.95×	20.9×
P/B	5.55×	4.52×	6.21×	6.79×	13.98×	20.65×	24.26×	41.89×
P/S	1.93×	1.83×	2.71×	2.24×	5.13×	5.46×	3.24×	1.56×
EV / EBITDA	13.28×	11.21×	15.47×	21.83×	23.42×	24.03×	27.24×	11.51×
Gross margin	57.4%	58.1%	56.9%	47.9%	57.8%	57.6%	52.0%	46.0%
Operating margin	11.4%	13.4%	13.6%	7.9%	19.5%	19.6%	9.8%	13.1%
Net margin	8.9%	9.6%	10.2%	5.6%	15.1%	14.3%	5.5%	7.4%
Current ratio	1.98×	2.18×	2.3×	1.76×	1.91×	1.66×	2.12×	1.59×
Debt / equity	0.35×	0.23×	0.24×	0.31×	0.36×	0.62×	2.84×	11.32×
Interest coverage	482.07×	447.77×	140.04×	28.29×	82.34×	23.4×	4.12×	3.27×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.3%	4.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	25.4%	23.7%	23.5%	17.0%	41.1%	54.0%	41.3%	199.4%
Return on invested capital	16.3%	19.8%	18.4%	13.8%	29.9%	33.9%	14.0%	22.9%
Return on assets	12.7%	13.7%	13.1%	8.3%	19.4%	21.1%	8.0%	11.2%
Free cash flow yield	5.9%	6.6%	4.7%	1.2%	1.1%	5.8%	1.3%	11.9%
Earnings yield	4.6%	5.3%	3.8%	2.5%	2.9%	2.6%	1.7%	4.8%
Enterprise value	$3.7B	$3.2B	$4.2B	$3.5B	$7.1B	$5.9B	$3.2B	$1.5B
Net debt / EBITDA	0.15×	-0.66×	-0.96×	-0.44×	-0.41×	-0.31×	2.31×	1.95×
Cash conversion cycle (days)	97	96	96	119	107	35	118	94