Stock Analysis

Stock Analysis · YETI Holdings Inc (YETI)

Overview

YETI Holdings Inc designs and sells premium outdoor and lifestyle products best known for hard coolers, soft coolers, drinkware, and related gear. The brand is positioned around durability and performance, with products used for outdoor recreation as well as everyday consumption (for example, insulated tumblers and bottles). YETI sells through a mix of wholesale partners (such as sporting goods and outdoor retailers) and its own direct-to-consumer channels, including its website and company-operated stores.

In simple terms, YETI’s business model aims to pair a strong brand with product innovation and a premium price point. That combination can support margins when demand is healthy, but it also means results can be sensitive to consumer spending and competition from lower-priced alternatives.

Main sources of revenue (largest to smallest) are generally described by product category in company filings:

Drinkware (tumblers, bottles, mugs)
Coolers & Equipment (hard/soft coolers, bags, boxes, other gear)
Other / accessories (smaller add-ons, depending on reporting categories)

The company’s reported revenue has increased over the last several years (for example, total revenue rising from about $1.41B in 2021 to about $1.87B in 2025, based on the figures shown below), indicating YETI has expanded beyond its early cooler-focused identity into a broader product platform.

Across the years shown, revenue grows overall (about $1.41B in 2021 to about $1.87B in 2025), while operating income and net income fluctuate. That pattern suggests profitability has been influenced not only by sales volume but also by costs such as selling, marketing, and general overhead, which can move around as the company invests in growth and manages inflation, freight, and promotions.

Key Figures

Metric	Value	Industry ⓘ
Date	Feb 23, 2026
Context
Sector	Consumer Cyclical
Industry	Leisure
Market Cap ⓘ	$3.87B
Beta ⓘ	1.77
Fundamental
P/E Ratio ⓘ	24.83	27.69
Profit Margin ⓘ	8.85%	7.44%
Revenue Growth ⓘ	6.80%	7.30%
Debt to Equity ⓘ	56.65%	56.65%
PEG ⓘ	1.66
Free Cash Flow ⓘ	$212.07M

YETI’s market capitalization is about $3.9B. The stock’s beta of ~1.77 indicates it has tended to move more than the broader market (higher volatility). Profitability is positive, with a profit margin of ~8.85%, above the industry median shown (~7.44%). Recent year-over-year revenue growth is ~6.8%, slightly below the industry median shown (~7.3%). The company’s debt-to-equity is ~56.7%, in line with the industry median displayed. Trailing twelve-month free cash flow is about $212M, reflecting cash generation after operating needs and capital spending. The P/E ratio is ~24.8 versus an industry median of ~27.7, and a PEG ratio of ~1.66 is a reminder that valuation should be considered alongside expected growth (higher PEG often implies a richer valuation relative to growth, though it depends on assumptions).

Growth (Medium)

YETI operates in consumer discretionary categories tied to outdoor recreation and everyday hydration/food storage. These are mature product areas overall, but premium brands can still grow by taking share, expanding internationally, building direct-to-consumer relationships, and widening product lines. The long-term opportunity is less about a brand-new industry and more about whether YETI can keep its brand strong and continue to introduce products that customers are willing to pay premium prices for.

Strategically, YETI’s mix of wholesale distribution and direct-to-consumer sales can support growth in different ways. Wholesale can provide reach and visibility, while direct-to-consumer can deepen customer relationships and (in many retail models) can support better economics when executed well. Another practical growth lever is product expansion—drinkware, for example, can encourage repeat purchases and gifting behavior, while coolers and equipment can be more cyclical and event-driven.

The company’s year-over-year revenue growth was very strong in 2021 (over 40% in early 2021 quarters), then decelerated meaningfully, including periods around flat growth and a few negative quarters. More recently, growth appears modest (ending at about 6.8% in the most recent point shown). This pattern is consistent with a business that saw a surge and then normalized, making future growth more dependent on product launches, channel execution, and broader consumer demand.

Free cash flow rises from about $151M (2024-03-31) to about $201M (2025-03-31), with the latest table value around $212M TTM. In plain terms, the business has recently been producing more cash after necessary spending, which can improve resilience and flexibility (for example, to invest in inventory, marketing, or other initiatives) even when sales growth is not rapid.