Yeti Holdings (YETI) FY2020 results: revenue $1.1 billion, up 19.5% on the year
Yeti Holdings, Inc. (YETI) reported revenue of $1.1 billion for fiscal 2020, the year ended 2 January 2021, up 19.5% on the year before. Net income was $156 million, up 208.9%, and diluted earnings per share $1.77. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$1.1 billion
+19.5% on the year
FY2016FY2020
Operating margin
19.6%
9.8% a year earlier
FY2016FY2020
Net income
$156 million
+208.9% on the year
FY2016FY2020
Diluted EPS
$1.77
+205.2% on the year
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,092
914
779
+19.5%
Cost of revenue
463
438
396
+5.6%
Gross profit
629
475
383
+32.3%
Gross margin
57.6%
52.0%
49.2%
Research and development
11.2
20.5
10.8
-45.4%
Selling, general and administrative
415
386
281
+7.5%
Operating income
214
89.8
102
+138.6%
Operating margin
19.6%
9.8%
13.1%
Interest expense
9.2
21.8
31.3
-58.0%
Pre-tax income
205
67.3
69.6
+205.1%
Income tax
49.4
16.8
11.9
+193.6%
Effective tax rate
24.1%
25.0%
17.0%
Net income
156
50.4
57.8
+208.9%
Net margin
14.3%
5.5%
7.4%
Diluted EPS
$1.77
$0.58
$0.69
+205.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
366
86.9
176
+321.7%
Capital expenditure
15.6
32.1
20.9
-51.5%
Free cash flow
351
54.8
155
+540.1%
Free cash flow margin
32.1%
6.0%
19.9%
Cash from investing
-22.9
-48.7
-31.7
Cash from financing
-163
-45.7
-118
Depreciation and amortisation
30.5
29.0
24.8
+5.4%
Share-based compensation
9.0
52.3
13.2
-82.8%
Buybacks
0.0
0.0
2.0
Dividends paid
0.0
0.6
2.5
Diluted shares, weighted
88m
86m
84m
+1.7%
Shares outstanding at period end
87m
87m
84m
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
288
122
29.0
+136.4%
Debt
135
300
333
-55.0%
Operating lease liabilities
36.5
42.2
n/a
-13.4%
Finance lease liabilities
0.8
0.9
n/a
-20.7%
Other liabilities
276
164
152
+68.1%
Total liabilities and equity
737
630
514
+17.1%
Fixed assets
n/a
82.6
74.1
Goodwill
54.3
54.3
54.3
0.0%
Intangible assets
92.1
90.8
80.0
+1.4%
Cash and equivalents
253
72.5
80.1
+249.3%
Receivables
65.4
82.7
59.3
-20.9%
Inventory
140
186
145
-24.5%
Other assets
132
60.9
21.0
+116.6%
Total assets
737
630
514
+17.1%
10-K for the year ended 2 January 2021, filed 1 March 2021: the filing.