MAT vs YETI: Mattel and YETI compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Mattel is the larger company, worth $4.9B, about 1.4 times YETI.
- Mattel grew revenue faster over the last year (+10.5% vs +8.5%).
- YETI keeps more of each dollar of revenue as operating profit (12.2% vs 7.8%).
- On earnings, Mattel is the cheaper stock (10.7x vs 23.7x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | MAT | YETI |
|---|---|---|
| Market cap | $4.9B | $3.5B |
| Share price | $16.69 | $39.79 |
| Revenue (last fiscal year) | $5.3B | $1.9B |
| Free cash flow (last fiscal year) | — | $212M |
| Revenue growth, last year | +10.5% | +8.5% |
| Revenue growth per year, last 5 fiscal years | -0.5% | +7.3% |
| Operating margin | 7.8% | 12.2% |
| Net margin | 7.8% | 9.2% |
| Return on equity | 21.4% | 29.3% |
| P/E (trailing) | 10.7x | 23.7x |
| Price / free cash flow | 11.8x | 16.6x |
| EV / EBITDA | 8.59x | 12.3x |
| FCF growth the price implies | — | 2.5% |
| Dividend yield | — | — |
| Debt / equity | 2.18x | 1.14x |
| Fundamental grade | C | B |
| Superinvestors holding it | 7 | 5 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Mattel
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $5.5B | — | 13.4% |
| 2022 | $5.4B | — | 12.4% |
| 2023 | $5.4B | — | 10.3% |
| 2024 | $5.4B | — | 12.9% |
| 2025 | $5.3B | — | 10.2% |
YETI
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.4B | $90M | 19.5% |
| 2022 | $1.6B | $55M | 7.9% |
| 2023 | $1.7B | $235M | 13.6% |
| 2024 | $1.8B | $220M | 13.4% |
| 2025 | $1.9B | $212M | 11.4% |
Where the revenue comes from
Mattel · by products, 2019
Infant, Toddler, and Preschool$1.3B28%
Barbie$1.2B26%
Vehicles$1.1B24%
Action Figures, Building Sets, and Games$982M22%
YETI · by products, 2025
Drinkware$1.1B58%
Coolers & Equipment$749M40%
Other$34M2%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open MAT in InvestinglyQuestions
Which is bigger, Mattel or YETI?
Mattel (MAT), at $4.9B against $3.5B.
Is MAT or YETI cheaper?
By trailing P/E, Mattel (10.7x) is cheaper than YETI (23.7x). A lower multiple can also mean the market expects less growth.
Which grows faster, MAT or YETI?
Mattel: revenue grew +10.5% over the last year, against +8.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.