What is Traeger's operating income?

Traeger's total operating income in 2025 was -$97.73 million, based on the following breakdown: Total Gross Profit: $219.35 million Total Operating Expenses: $317.07 million

Traeger (COOK) Financials

$63.39 +2.10 (+3.43%)

Closing price 03:59 PM Eastern

Extended Trading

$63.49 +0.10 (+0.16%)

As of 04:10 PM Eastern

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Annual Income Statements for Traeger

This table shows Traeger's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-30	31	-92	-382	-84	-34	-115
Consolidated Net Income / (Loss)	-30	31	-92	-382	-84	-34	-115
Net Income / (Loss) Continuing Operations	-30	31	-92	-382	-84	-34	-115
Total Pre-Tax Income	-29	32	-90	-381	-82	-36	-119
Total Operating Income	10	58	-61	-346	-55	-2.94	-98
Total Gross Profit	156	235	301	229	224	255	219
Total Revenue	363	546	786	656	606	604	560
Operating Revenue	363	546	786	656	606	604	560
Total Cost of Revenue	208	311	485	427	382	349	340
Operating Cost of Revenue	208	311	485	427	382	349	340
Total Operating Expenses	145	176	362	575	279	258	317
Selling, General & Admin Expense	45	50	159	167	130	113	95
Marketing Expense	67	94	165	131	109	110	90
Depreciation Expense	33	33	34	36	36	35	35
Impairment Charge	-	0.00	0.00	222	0.00	0.00	75
Restructuring Charge	-	0.00	0.00	9.32	0.23	0.00	22
Other Special Charges / (Income)	0.00	0.00	3.80	10	4.70	0.00	0.00
Total Other Income / (Expense), net	-40	-27	-29	-35	-27	-33	-22
Interest Expense	39	34	32	28	31	34	31
Other Income / (Expense), net	-0.46	7.53	2.70	-7.13	4.31	0.48	9.76
Income Tax Expense	0.12	0.75	1.49	1.19	1.99	-1.96	-4.14
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	-	-0.13	-0.06	0.07
Basic Earnings per Share	($0.27)	$0.29	($0.82)	($3.19)	($0.68)	($0.27)	($0.87)
Weighted Average Basic Shares Outstanding	108.72M	108.72M	112.37M	119.70M	123.73M	127.44M	133.10M
Diluted Earnings per Share	($0.27)	$0.29	($0.82)	($3.19)	($0.68)	($0.27)	($0.87)
Weighted Average Diluted Shares Outstanding	108.72M	108.72M	112.37M	119.70M	123.73M	127.44M	133.10M
Weighted Average Basic & Diluted Shares Outstanding	-	-	118.08M	122.64M	127.94M	130.65M	137.25M

This table shows Traeger's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-24	-4.68	-2.58	-20	-6.96	-1.05	-7.26	-90	-17	2.92	-8.66
Consolidated Net Income / (Loss)	-24	-4.68	-2.58	-20	-6.96	-0.78	-7.38	-90	-17	2.93	-8.56
Net Income / (Loss) Continuing Operations	-24	-4.68	-2.58	-20	-6.96	-0.78	-7.38	-90	-17	2.93	-8.56
Total Pre-Tax Income	-23	-4.49	-2.60	-20	-8.94	-2.38	-7.78	-90	-19	2.65	-9.47
Total Operating Income	-12	-0.07	4.80	-7.43	-0.24	3.41	-6.10	-83	-12	-1.02	-1.71
Total Gross Profit	60	63	72	52	69	59	57	49	54	43	47
Total Revenue	163	145	168	122	169	143	145	125	145	94	120
Operating Revenue	163	145	168	122	169	143	145	125	145	94	120
Total Cost of Revenue	103	82	96	70	100	84	88	77	91	51	73
Operating Cost of Revenue	103	82	96	70	100	84	88	77	91	51	73
Total Operating Expenses	72	63	68	59	69	56	63	132	66	44	49
Selling, General & Admin Expense	26	32	30	24	27	25	26	22	22	19	22
Marketing Expense	33	22	28	26	34	22	25	20	23	13	17
Depreciation Expense	8.89	8.82	8.82	8.82	8.82	8.82	8.82	8.81	8.81	8.81	8.81
Restructuring Charge	-	-	0.00	0.00	-	0.00	3.47	6.20	-	3.18	1.45
Total Other Income / (Expense), net	-12	-4.42	-7.40	-12	-8.71	-5.79	-1.68	-6.77	-7.36	3.68	-7.77
Interest Expense	7.87	8.10	8.68	8.53	8.19	7.89	8.09	7.82	7.55	7.61	8.27
Other Income / (Expense), net	-3.72	3.68	1.28	-3.96	-0.51	2.10	6.41	1.05	0.19	11	0.51
Income Tax Expense	0.77	0.19	-0.02	-0.14	-1.99	-1.60	-0.39	-0.31	-1.84	-0.28	-0.91
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	-	-	0.27	-0.12	-	-	0.01	0.10
Basic Earnings per Share	($0.18)	($0.04)	($0.02)	($0.15)	($0.06)	($0.30)	($2.77)	($0.67)	($0.13)	$1.08	($3.12)
Weighted Average Basic Shares Outstanding	123.73M	125.20M	127.14M	128.29M	127.44M	2.59M	2.67M	134.21M	133.10M	2.71M	2.75M
Diluted Earnings per Share	($0.18)	($0.04)	($0.02)	($0.15)	($0.06)	($0.30)	($2.77)	($0.67)	($0.13)	$1.08	($3.12)
Weighted Average Diluted Shares Outstanding	123.73M	125.20M	127.14M	128.29M	127.44M	2.59M	2.67M	134.21M	133.10M	2.71M	2.75M
Weighted Average Basic & Diluted Shares Outstanding	127.94M	128.87M	129.47M	130.60M	130.65M	135.69M	135.89M	137.03M	137.25M	2.78M	2.80M

This table details how cash moves in and out of Traeger's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.13	4.48	5.18	35	-22	-15	4.64
Net Cash From Operating Activities	18	47	-28	5.09	64	24	21
Net Cash From Continuing Operating Activities	18	47	-28	5.09	64	24	21
Net Income / (Loss) Continuing Operations	-30	31	-92	-382	-84	-34	-115
Consolidated Net Income / (Loss)	-30	31	-92	-382	-84	-34	-115
Depreciation Expense	6.06	7.76	9.15	14	15	14	12
Amortization Expense	36	36	41	45	34	38	40
Non-Cash Adjustments To Reconcile Net Income	3.18	13	87	315	53	28	87
Changes in Operating Assets and Liabilities, net	3.11	-41	-74	14	46	-22	-3.93
Net Cash From Investing Activities	-9.00	-27	-80	-19	-17	-12	-7.33
Net Cash From Continuing Investing Activities	-9.10	-27	-80	-19	-17	-12	-7.33
Purchase of Property, Plant & Equipment	-7.50	-14	-22	-18	-20	-12	-6.93
Acquisitions	-1.64	-13	-57	-0.51	-0.46	-0.45	-0.51
Sale of Property, Plant & Equipment	0.05	0.02	0.00	0.00	3.03	0.11	0.11
Net Cash From Financing Activities	-9.26	-15	114	49	-68	-26	-8.55
Net Cash From Continuing Financing Activities	-9.26	-15	114	49	-68	-26	-8.55
Repayment of Debt	-44	-71	-656	-146	-171	-87	-65
Issuance of Debt	35	57	628	204	116	63	59
Other Financing Activities, net	-	-0.31	-0.38	-9.82	-13	-2.73	-2.39
Cash Interest Paid	37	31	23	25	40	39	33

This table details how cash moves in and out of Traeger's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	19	-6.30	-5.60	-1.15	-1.89	-2.95	-1.73	-4.44	14	14	26
Net Cash From Operating Activities	20	-13	14	15	7.47	-21	18	7.55	16	18	27
Net Cash From Continuing Operating Activities	20	-13	14	15	7.47	-21	18	7.55	16	18	27
Net Income / (Loss) Continuing Operations	-24	-4.68	-2.58	-20	-6.96	-0.78	-7.38	-90	-17	2.93	-8.56
Consolidated Net Income / (Loss)	-24	-4.68	-2.58	-20	-6.96	-0.78	-7.38	-90	-17	2.93	-8.56
Depreciation Expense	3.81	3.62	3.26	3.26	3.73	3.75	2.81	2.81	2.78	2.68	2.65
Amortization Expense	8.64	8.91	9.36	9.66	9.84	9.96	10	10	10	11	11
Non-Cash Adjustments To Reconcile Net Income	6.48	11	7.52	6.32	3.41	5.59	4.32	78	-1.13	0.61	4.69
Changes in Operating Assets and Liabilities, net	25	-32	-3.70	16	-2.55	-39	8.51	6.04	21	1.16	17
Net Cash From Investing Activities	-4.25	-5.75	-2.14	-2.34	-2.10	-1.90	-2.75	-1.21	-1.47	-3.49	-0.62
Net Cash From Continuing Investing Activities	-4.25	-5.75	-2.14	-2.34	-2.10	-1.90	-2.75	-1.21	-1.47	-3.49	-0.62
Purchase of Property, Plant & Equipment	-4.27	-5.68	-2.05	-2.30	-1.96	-1.83	-2.63	-1.16	-1.32	-3.39	-0.63
Acquisitions	-0.09	-0.15	-0.09	-0.07	-0.14	-0.09	-0.16	-0.11	-0.15	-0.13	-0.07
Sale of Property, Plant & Equipment	0.10	0.08	-	0.03	-	0.01	0.04	0.06	-	0.03	0.09
Net Cash From Financing Activities	3.21	12	-17	-14	-7.27	20	-17	-11	-0.28	-0.34	-0.49
Net Cash From Continuing Financing Activities	3.21	12	-17	-14	-7.27	20	-17	-11	-0.28	-0.34	-0.49
Repayment of Debt	-9.46	-8.83	-38	-17	-23	-5.21	-34	-14	-12	-0.06	-0.06
Other Financing Activities, net	-0.13	-0.12	-0.13	-2.28	-0.20	0.00	-0.93	-1.18	-0.14	-0.28	-0.43
Cash Interest Paid	40	9.66	-9.66	30	8.87	8.37	8.63	8.33	7.90	7.60	7.72
Cash Income Taxes Paid	-	-0.52	0.52	1.58	0.38	0.76	0.62	0.05	-	0.15	-0.22

This table presents Traeger's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	990	1,178	947	861	831	676
Total Current Assets	159	266	274	216	243	215
Cash & Equivalents	12	17	39	30	15	20
Accounts Receivable	65	93	42	60	85	82
Inventories, net	69	142	153	96	107	99
Prepaid Expenses	14	15	27	30	35	14
Plant, Property, & Equipment, net	32	55	56	43	37	34
Total Noncurrent Assets	798	856	617	602	551	427
Intangible Assets	540	555	513	471	429	387
Other Noncurrent Operating Assets	1.49	3.61	29	57	47	40
Total Liabilities & Shareholders' Equity	990	1,178	947	861	831	676
Total Liabilities	515	572	612	569	554	505
Total Current Liabilities	80	166	113	134	122	80
Short-Term Debt	3.70	53	24	44	5.25	0.25
Accounts Payable	22	43	30	33	28	14
Accrued Expenses	55	70	52	53	82	63
Other Current Liabilities	-	0.42	6.66	4.10	7.15	3.03
Total Noncurrent Liabilities	434	405	499	435	432	425
Long-Term Debt	434	379	468	397	398	400
Capital Lease Obligations	0.54	0.00	9.00	29	27	23
Noncurrent Deferred & Payable Income Tax Liabilities	-	12	10	8.24	6.38	1.86
Other Noncurrent Operating Liabilities	0.33	14	11	0.76	0.54	0.55
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	475	606	335	291	276	171
Total Preferred & Common Equity	475	606	335	291	276	171
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00
Total Common Equity	475	606	335	291	276	171
Common Stock	571	794	882	935	961	974
Retained Earnings	-96	-188	-570	-655	-689	-804
Accumulated Other Comprehensive Income / (Loss)	-	-0.09	23	11	4.34	0.53

This table presents Traeger's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	837	862	842	818	826	781	690	662	655
Total Current Assets	199	231	225	217	253	220	216	214	222
Cash & Equivalents	11	24	18	17	12	10	5.87	34	60
Accounts Receivable	51	79	89	71	95	76	81	64	74
Inventories, net	102	100	91	105	127	116	115	88	76
Prepaid Expenses	35	28	26	24	18	18	15	28	11
Plant, Property, & Equipment, net	55	41	40	38	36	35	34	32	29
Total Noncurrent Assets	582	591	578	563	537	526	440	416	404
Intangible Assets	481	460	449	439	418	408	397	377	366
Other Noncurrent Operating Assets	26	56	54	49	45	43	43	39	38
Total Liabilities & Shareholders' Equity	837	862	842	818	826	781	690	662	655
Total Liabilities	525	567	545	538	546	506	503	487	487
Total Current Liabilities	108	133	110	104	115	76	73	63	64
Short-Term Debt	36	59	24	12	25	9.25	0.25	0.25	0.25
Accounts Payable	26	26	34	31	19	14	14	8.94	11
Accrued Expenses	41	46	48	57	65	48	55	51	50
Other Current Liabilities	5.50	1.00	4.48	4.24	5.21	4.58	4.01	2.58	2.13
Total Noncurrent Liabilities	417	435	435	435	432	431	430	424	424
Long-Term Debt	397	398	398	398	399	399	399	400	400
Capital Lease Obligations	8.42	28	28	28	26	25	24	23	22
Noncurrent Deferred & Payable Income Tax Liabilities	10	8.24	8.25	8.24	6.37	6.36	6.36	0.66	0.00
Other Noncurrent Operating Liabilities	0.88	0.65	0.69	0.58	0.69	0.61	0.50	0.72	1.54
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	312	295	297	280	280	274	186	175	167
Total Preferred & Common Equity	312	295	297	280	280	274	186	175	167
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	312	295	297	280	280	274	186	175	167
Common Stock	929	945	952	956	966	969	972	976	977
Retained Earnings	-631	-660	-662	-682	-690	-697	-787	-801	-810
Accumulated Other Comprehensive Income / (Loss)	13	8.80	6.98	5.55	3.06	2.24	1.38	-0.03	-0.12

This table displays calculated financial ratios and metrics derived from Traeger's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	0.00	117,547,916.00	122,616,477.00	125,809,285.00	-	137,026,317.00
DEI Adjusted Shares Outstanding	0.00	0.00	117,547,916.00	122,616,477.00	2,516,186.00	-	2,740,526.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	-0.78	-3.12	-33.49	-	-42.05
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	50.22%	43.93%	-16.50%	-7.63%	-0.30%	-7.38%
EBITDA Growth	0.00%	111.63%	-107.69%	-3,396.74%	99.42%	2,977.41%	-172.29%
EBIT Growth	0.00%	559.18%	-188.73%	-504.08%	85.52%	95.18%	-3,470.29%
NOPAT Growth	0.00%	678.46%	-175.13%	-465.74%	83.97%	94.69%	-3,219.53%
Net Income Growth	0.00%	204.92%	-395.55%	-316.42%	77.91%	59.71%	-238.69%
EPS Growth	0.00%	207.41%	-382.76%	-289.02%	78.68%	60.29%	-222.22%
Operating Cash Flow Growth	0.00%	152.07%	-161.01%	117.92%	1,157.20%	-62.70%	-14.10%
Free Cash Flow Firm Growth	0.00%	0.00%	80.64%	97.14%	403.35%	165.14%	30.82%
Invested Capital Growth	0.00%	0.00%	13.39%	-23.24%	-6.76%	-5.43%	-17.01%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-5.31%	4.37%	0.86%	-3.99%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.58%	50.92%	47.26%	-46.97%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.08%	8.31%	85.61%	-13.91%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	2.52%	14.73%	79.55%	-13.27%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	1.98%	5.44%	33.44%	-9.76%
EPS Q/Q Growth	0.00%	0.00%	0.00%	3.92%	5.56%	30.77%	-8.75%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-961.42%	115.18%	15.49%	-33.83%	64.41%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-30.69%	21.65%	35.34%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-2.90%	-1.41%	-1.31%	-4.97%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	42.88%	43.02%	38.29%	34.88%	36.90%	42.29%	39.20%
EBITDA Margin	14.25%	20.08%	-1.07%	-44.91%	-0.28%	8.14%	-6.35%
Operating Margin	2.88%	10.69%	-7.78%	-52.74%	-9.15%	-0.49%	-17.47%
EBIT Margin	2.75%	12.07%	-7.44%	-53.83%	-8.44%	-0.41%	-15.72%
Profit (Net Income) Margin	-8.15%	5.69%	-11.68%	-58.26%	-13.93%	-5.63%	-20.59%
Tax Burden Percent	100.42%	97.64%	101.65%	100.31%	102.41%	94.56%	96.53%
Interest Burden Percent	-294.90%	48.27%	154.46%	107.90%	161.15%	1,459.58%	135.64%
Effective Tax Rate	0.00%	2.36%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	12.64%	-4.45%	-26.81%	-5.12%	-0.29%	-10.81%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.48%	-16.08%	-59.15%	-15.37%	-7.76%	-22.24%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.43%	-12.53%	-54.42%	-21.84%	-11.69%	-40.70%
Return on Equity (ROE)	0.00%	13.07%	-16.98%	-81.23%	-26.96%	-11.98%	-51.50%
Cash Return on Invested Capital (CROIC)	0.00%	-187.36%	-17.00%	-0.52%	1.87%	5.29%	7.79%
Operating Return on Assets (OROA)	0.00%	6.66%	-5.39%	-33.24%	-5.66%	-0.29%	-11.68%
Return on Assets (ROA)	0.00%	3.14%	-8.47%	-35.98%	-9.34%	-4.02%	-15.29%
Return on Common Equity (ROCE)	0.00%	13.07%	-16.98%	-81.23%	-26.96%	-11.98%	-51.50%
Return on Equity Simple (ROE_SIMPLE)	0.00%	6.54%	-15.14%	-114.12%	0.00%	-12.30%	0.00%
Net Operating Profit after Tax (NOPAT)	7.32	57	-43	-242	-39	-2.06	-68
NOPAT Margin	2.01%	10.44%	-5.45%	-36.92%	-6.41%	-0.34%	-12.23%
Net Nonoperating Expense Percent (NNEP)	0.00%	12.16%	11.63%	32.34%	10.25%	7.47%	11.43%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-28.96%	-5.10%	-0.29%	-11.52%
Cost of Revenue to Revenue	57.12%	56.98%	61.71%	65.12%	63.10%	57.71%	60.80%
SG&A Expenses to Revenue	12.47%	9.21%	20.18%	25.43%	21.42%	18.79%	16.98%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	40.00%	32.33%	46.07%	87.62%	46.05%	42.78%	56.67%
Earnings before Interest and Taxes (EBIT)	9.99	66	-58	-353	-51	-2.46	-88
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	52	110	-8.42	-295	-1.71	49	-36
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.89	2.36	1.03	1.18	1.13	0.87
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.17	0.78	1.82	0.53	0.57	0.52	0.26
Price to Earnings (P/E)	0.00	13.64	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	7.33%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.94	1.81	1.01	1.07	1.05	0.96
Enterprise Value to Revenue (EV/Rev)	0.00	1.56	2.35	1.21	1.29	1.20	0.99
Enterprise Value to EBITDA (EV/EBITDA)	0.00	7.75	0.00	0.00	0.00	14.79	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	12.90	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	14.92	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	18.24	0.00	156.15	12.24	30.45	26.86
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	55.16	19.31	11.19
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.92	0.71	1.50	1.61	1.56	2.48
Long-Term Debt to Equity	0.00	0.91	0.63	1.42	1.46	1.54	2.47
Financial Leverage	0.00	0.90	0.78	0.92	1.42	1.51	1.83
Leverage Ratio	0.00	2.08	2.00	2.26	2.89	2.98	3.37
Compound Leverage Factor	0.00	1.01	3.10	2.44	4.65	43.48	4.57
Debt to Total Capital	0.00%	47.96%	41.66%	59.95%	61.74%	60.89%	71.22%
Short-Term Debt to Total Capital	0.00%	0.41%	5.13%	2.88%	5.73%	0.74%	0.04%
Long-Term Debt to Total Capital	0.00%	47.56%	36.52%	57.06%	56.00%	60.15%	71.18%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	52.04%	58.34%	40.05%	38.26%	39.11%	28.78%
Debt to EBITDA	0.00	3.99	-51.37	-1.70	-275.07	8.75	-11.90
Net Debt to EBITDA	0.00	3.89	-49.38	-1.53	-257.56	8.45	-11.34
Long-Term Debt to EBITDA	0.00	3.96	-45.04	-1.62	-249.53	8.64	-11.89
Debt to NOPAT	0.00	7.69	-10.11	-2.07	-12.11	-208.82	-6.18
Net Debt to NOPAT	0.00	7.48	-9.72	-1.86	-11.34	-201.55	-5.89
Long-Term Debt to NOPAT	0.00	7.62	-8.86	-1.97	-10.99	-206.27	-6.18
Altman Z-Score	0.00	1.23	1.88	-0.84	-0.08	0.07	-0.85
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	1.99	1.60	2.43	1.62	1.99	2.68
Quick Ratio	0.00	0.95	0.66	0.72	0.67	0.82	1.27
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-844	-163	-4.68	14	38	49
Operating Cash Flow to CapEx	248.03%	330.33%	-126.46%	27.69%	378.54%	201.03%	300.62%
Free Cash Flow to Firm to Interest Expense	0.00	-24.78	-5.14	-0.17	0.45	1.12	1.57
Operating Cash Flow to Interest Expense	0.47	1.37	-0.89	0.18	2.05	0.71	0.65
Operating Cash Flow Less CapEx to Interest Expense	0.28	0.95	-1.60	-0.48	1.51	0.36	0.44
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.55	0.73	0.62	0.67	0.71	0.74
Accounts Receivable Turnover	0.00	8.42	9.96	9.72	11.88	8.32	6.68
Inventory Turnover	0.00	4.52	4.61	2.90	3.06	3.43	3.30
Fixed Asset Turnover	0.00	16.84	17.88	11.82	12.35	15.19	15.84
Accounts Payable Turnover	0.00	14.35	15.06	11.78	12.11	11.43	16.26
Days Sales Outstanding (DSO)	0.00	43.36	36.65	37.56	30.72	43.89	54.62
Days Inventory Outstanding (DIO)	0.00	80.80	79.20	126.05	119.17	106.56	110.62
Days Payable Outstanding (DPO)	0.00	25.44	24.23	30.99	30.13	31.92	22.44
Cash Conversion Cycle (CCC)	0.00	98.72	91.62	132.61	119.76	118.52	142.80
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	901	1,022	785	732	692	574
Invested Capital Turnover	0.00	1.21	0.82	0.73	0.80	0.85	0.88
Increase / (Decrease) in Invested Capital	0.00	901	121	-237	-53	-40	-118
Enterprise Value (EV)	0.00	850	1,845	795	784	727	551
Market Capitalization	424	424	1,429	346	343	312	148
Book Value per Share	$0.00	$4.37	$5.16	$2.73	$2.32	$2.12	$1.25
Tangible Book Value per Share	$0.00	($2.96)	($2.09)	($2.06)	($2.02)	($1.74)	($1.58)
Total Capital	0.00	913	1,039	836	761	707	594
Total Debt	0.00	438	433	501	470	430	423
Total Long-Term Debt	0.00	434	379	477	426	425	423
Net Debt	0.00	426	416	450	440	415	403
Capital Expenditures (CapEx)	7.45	14	22	18	17	12	6.83
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	71	137	134	96	111	115
Debt-free Net Working Capital (DFNWC)	0.00	83	153	185	126	126	135
Net Working Capital (NWC)	0.00	79	100	161	82	121	135
Net Nonoperating Expense (NNE)	37	26	49	140	46	32	47
Net Nonoperating Obligations (NNO)	0.00	426	416	450	440	415	403
Total Depreciation and Amortization (D&A)	42	44	50	59	49	52	52
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	13.02%	17.39%	20.41%	15.87%	18.40%	20.62%
Debt-free Net Working Capital to Revenue	0.00%	15.14%	19.52%	28.27%	20.81%	20.88%	24.13%
Net Working Capital to Revenue	0.00%	14.46%	12.73%	24.60%	13.60%	20.01%	24.09%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.79)	$0.00	($34.00)	($0.27)	($43.50)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	112.37M	0.00	2.47M	127.44M	2.66M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.79)	$0.00	($34.00)	($0.27)	($43.50)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	112.37M	0.00	2.47M	127.44M	2.66M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	118.08M	0.00	2.56M	130.65M	2.75M
Normalized Net Operating Profit after Tax (NOPAT)	7.32	57	-40	-73	-35	-2.06	-0.81
Normalized NOPAT Margin	2.01%	10.44%	-5.11%	-11.13%	-5.84%	-0.34%	-0.15%
Pre Tax Income Margin	-8.11%	5.83%	-11.49%	-58.08%	-13.60%	-5.95%	-21.33%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.25	1.93	-1.84	-12.66	-1.64	-0.07	-2.81
NOPAT to Interest Expense	0.19	1.67	-1.34	-8.68	-1.24	-0.06	-2.18
EBIT Less CapEx to Interest Expense	0.06	1.52	-2.54	-13.32	-2.18	-0.43	-3.02
NOPAT Less CapEx to Interest Expense	0.00	1.26	-2.05	-9.34	-1.78	-0.42	-2.40
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	-0.27%	0.81%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.27%	0.81%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Traeger's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	125,809,285.00	127,940,759.00	128,869,832.00	129,466,276.00	-	130,648,819.00	135,690,256.00	135,886,236.00	137,026,317.00	137,251,532.00	2,781,807.00
DEI Adjusted Shares Outstanding	2,516,186.00	127,940,759.00	128,869,832.00	129,466,276.00	-	2,612,976.00	135,690,256.00	135,886,236.00	2,740,526.00	2,745,031.00	2,781,807.00
DEI Earnings Per Adjusted Shares Outstanding	-9.52	-0.04	-0.02	-0.15	-	-0.40	-0.05	-0.66	-6.30	1.06	-3.11
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	18.35%	-5.38%	-1.77%	3.67%	3.16%	-1.13%	-13.65%	2.74%	-13.80%	-34.35%	-17.40%
EBITDA Growth	37.44%	66.67%	290.86%	11.22%	532.64%	19.20%	-29.59%	-4,644.86%	-88.63%	22.00%	-4.64%
EBIT Growth	23.13%	234.19%	127.42%	-4.59%	95.13%	53.07%	-94.80%	-622.53%	-1,430.23%	86.07%	-479.43%
NOPAT Growth	45.03%	97.76%	117.37%	42.35%	97.96%	4,773.97%	-227.11%	-1,022.24%	-4,809.24%	-147.29%	72.03%
Net Income Growth	16.81%	57.15%	91.45%	-2.74%	71.06%	83.39%	-186.42%	-353.88%	-147.20%	476.35%	-15.97%
EPS Growth	18.18%	55.56%	92.00%	6.25%	66.67%	83.39%	-200.00%	-346.67%	-116.67%	460.00%	-12.64%
Operating Cash Flow Growth	77.40%	46.60%	-71.96%	-18.14%	-62.04%	-65.40%	31.91%	-50.13%	107.59%	185.89%	48.19%
Free Cash Flow Firm Growth	-79.86%	-83.12%	-76.57%	-37.11%	-11.76%	-13.31%	-37.53%	7.28%	176.80%	265.20%	493.22%
Invested Capital Growth	-6.76%	-5.98%	-5.37%	-5.53%	-5.43%	-5.20%	-4.41%	-13.81%	-17.01%	-21.39%	-23.94%
Revenue Q/Q Growth	38.86%	-11.36%	16.26%	-27.55%	38.17%	-15.03%	1.54%	-13.81%	15.92%	-35.29%	27.74%
EBITDA Q/Q Growth	-315.80%	644.38%	15.93%	-91.83%	739.49%	49.99%	-31.52%	-627.12%	102.10%	1,508.78%	-46.47%
EBIT Q/Q Growth	-41.45%	123.39%	68.64%	-287.49%	93.41%	834.35%	-94.27%	-26,147.78%	86.04%	189.30%	-111.68%
NOPAT Q/Q Growth	9.25%	99.38%	6,668.49%	-254.91%	96.80%	1,533.61%	-278.63%	-1,267.68%	85.98%	86.19%	-5.67%
Net Income Q/Q Growth	-24.84%	80.52%	44.95%	-667.61%	64.84%	88.82%	-849.10%	-1,116.40%	80.85%	117.02%	-392.45%
EPS Q/Q Growth	-12.50%	77.78%	50.00%	-650.00%	60.00%	88.82%	-500.00%	-1,016.67%	80.60%	930.77%	-388.89%
Operating Cash Flow Q/Q Growth	6.38%	-164.00%	210.07%	9.23%	-50.67%	-378.87%	187.79%	-58.70%	105.33%	15.38%	51.46%
Free Cash Flow Firm Q/Q Growth	-21.34%	7.27%	-7.06%	-19.82%	10.38%	5.39%	-33.03%	37.70%	184.77%	39.05%	8.79%
Invested Capital Q/Q Growth	-1.41%	3.42%	-3.61%	-3.88%	-1.31%	3.68%	-2.82%	-13.33%	-4.97%	-1.79%	-5.97%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.79%	43.17%	42.93%	42.35%	40.85%	41.50%	39.18%	38.71%	37.38%	45.73%	39.46%
EBITDA Margin	-1.81%	11.13%	11.10%	1.25%	7.60%	13.42%	9.05%	-55.34%	1.00%	24.94%	10.45%
Operating Margin	-7.15%	-0.05%	2.85%	-6.09%	-0.14%	2.38%	-4.19%	-66.48%	-8.04%	-1.09%	-1.42%
EBIT Margin	-9.42%	2.49%	3.61%	-9.33%	-0.45%	3.85%	0.22%	-65.64%	-7.91%	10.91%	-1.00%
Profit (Net Income) Margin	-14.71%	-3.23%	-1.53%	-16.21%	-4.13%	-0.54%	-5.08%	-71.63%	-11.83%	3.11%	-7.13%
Tax Burden Percent	103.31%	104.23%	99.08%	99.31%	77.80%	32.72%	94.97%	99.66%	90.32%	110.41%	90.40%
Interest Burden Percent	151.06%	-124.70%	-42.82%	174.91%	1,190.81%	-43.12%	-2,460.44%	109.49%	165.71%	25.84%	789.99%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-10.41%	0.00%
Return on Invested Capital (ROIC)	-4.00%	-0.03%	1.58%	-3.54%	-0.08%	1.36%	-2.38%	-41.56%	-4.97%	-0.96%	-0.79%
ROIC Less NNEP Spread (ROIC-NNEP)	-7.57%	-1.01%	0.22%	-6.96%	-1.67%	0.66%	-3.11%	-49.06%	-7.18%	0.03%	-2.66%
Return on Net Nonoperating Assets (RNNOA)	-10.75%	-1.53%	0.31%	-10.02%	-2.52%	1.03%	-4.65%	-88.35%	-13.14%	0.05%	-4.74%
Return on Equity (ROE)	-14.75%	-1.56%	1.89%	-13.56%	-2.60%	2.40%	-7.04%	-129.91%	-18.11%	-0.91%	-5.52%
Cash Return on Invested Capital (CROIC)	1.87%	1.48%	3.66%	4.29%	5.29%	5.39%	3.50%	5.58%	7.79%	12.78%	16.04%
Operating Return on Assets (OROA)	-6.32%	1.65%	2.51%	-6.76%	-0.32%	2.75%	0.16%	-50.75%	-5.87%	7.49%	-0.67%
Return on Assets (ROA)	-9.86%	-2.15%	-1.06%	-11.74%	-2.95%	-0.39%	-3.62%	-55.38%	-8.79%	2.14%	-4.82%
Return on Common Equity (ROCE)	-14.75%	-1.56%	1.89%	-13.56%	-2.60%	2.40%	-7.04%	-129.91%	-18.11%	-0.91%	-5.52%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-26.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-8.18	-0.05	3.36	-5.20	-0.17	2.39	-4.27	-58	-8.18	-1.13	-1.19
NOPAT Margin	-5.01%	-0.04%	1.99%	-4.26%	-0.10%	1.67%	-2.93%	-46.53%	-5.63%	-1.20%	-0.99%
Net Nonoperating Expense Percent (NNEP)	3.56%	0.99%	1.36%	3.43%	1.59%	0.70%	0.73%	7.50%	2.20%	-0.98%	1.88%
Return On Investment Capital (ROIC_SIMPLE)	-1.07%	-0.01%	0.45%	-0.72%	-0.02%	0.33%	-0.60%	-9.57%	-1.38%	-0.19%	-0.20%
Cost of Revenue to Revenue	63.21%	56.83%	57.07%	57.65%	59.15%	58.50%	60.82%	61.29%	62.62%	54.27%	60.54%
SG&A Expenses to Revenue	15.86%	22.18%	18.10%	19.77%	15.84%	17.46%	17.89%	17.68%	15.01%	20.64%	18.13%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	43.94%	43.22%	40.09%	48.44%	40.99%	39.12%	43.37%	105.19%	45.42%	46.82%	40.88%
Earnings before Interest and Taxes (EBIT)	-15	3.60	6.08	-11	-0.75	5.52	0.32	-82	-11	10	-1.20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-2.96	16	19	1.53	13	19	13	-69	1.46	23	13
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.18	1.10	1.04	1.70	1.13	0.79	0.85	0.89	0.87	0.46	1.31
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.57	0.54	0.52	0.80	0.52	0.36	0.40	0.28	0.26	0.16	0.45
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.07	1.04	1.02	1.28	1.05	0.92	0.94	0.97	0.96	0.83	1.10
Enterprise Value to Revenue (EV/Rev)	1.29	1.31	1.25	1.50	1.20	1.09	1.13	1.00	0.99	0.92	1.20
Enterprise Value to EBITDA (EV/EBITDA)	0.00	165.64	22.30	26.88	14.79	12.57	14.01	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	1,735.34	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	12.24	10.47	18.79	24.86	30.45	41.99	32.62	46.77	26.86	7.91	8.55
Enterprise Value to Free Cash Flow (EV/FCFF)	55.16	67.92	27.01	28.99	19.31	16.56	26.25	16.03	11.19	5.72	5.92
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.61	1.65	1.51	1.57	1.56	1.61	1.58	2.28	2.48	2.42	2.53
Long-Term Debt to Equity	1.46	1.45	1.43	1.52	1.54	1.52	1.55	2.28	2.47	2.42	2.52
Financial Leverage	1.42	1.51	1.40	1.44	1.51	1.57	1.50	1.80	1.83	1.82	1.78
Leverage Ratio	2.89	2.89	2.74	2.80	2.98	2.94	2.84	3.24	3.37	3.27	3.25
Compound Leverage Factor	4.36	-3.61	-1.17	4.89	35.47	-1.27	-69.87	3.54	5.58	0.85	25.68
Debt to Total Capital	61.74%	62.24%	60.22%	61.02%	60.89%	61.67%	61.23%	69.49%	71.22%	70.75%	71.64%
Short-Term Debt to Total Capital	5.73%	7.62%	3.18%	1.71%	0.74%	3.46%	1.31%	0.04%	0.04%	0.04%	0.04%
Long-Term Debt to Total Capital	56.00%	54.61%	57.04%	59.31%	60.15%	58.20%	59.92%	69.44%	71.18%	70.70%	71.60%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	38.26%	37.76%	39.78%	38.98%	39.11%	38.33%	38.77%	30.51%	28.78%	29.25%	28.36%
Debt to EBITDA	-275.07	102.37	13.54	13.12	8.75	8.60	9.27	-17.52	-11.90	-13.50	-13.23
Net Debt to EBITDA	-257.56	97.39	13.00	12.61	8.45	8.37	9.05	-17.28	-11.34	-12.42	-11.37
Long-Term Debt to EBITDA	-249.53	89.83	12.82	12.75	8.64	8.12	9.07	-17.51	-11.89	-13.49	-13.23
Debt to NOPAT	-12.11	-13.27	-32.38	-43.46	-208.82	1,187.53	-59.78	-7.02	-6.18	-5.91	-6.17
Net Debt to NOPAT	-11.34	-12.63	-31.08	-41.78	-201.55	1,155.76	-58.36	-6.92	-5.89	-5.44	-5.30
Long-Term Debt to NOPAT	-10.99	-11.65	-30.67	-42.24	-206.27	1,120.86	-58.51	-7.01	-6.18	-5.91	-6.17
Altman Z-Score	0.06	0.11	0.13	0.22	0.08	0.02	-0.01	-0.70	-0.48	-0.50	-0.44
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.62	1.74	2.04	2.09	1.99	2.21	2.92	2.96	2.68	3.40	3.49
Quick Ratio	0.67	0.77	0.98	0.85	0.82	0.93	1.14	1.19	1.27	1.56	2.11
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	45	48	45	36	40	42	28	38	110	152	166
Operating Cash Flow to CapEx	472.58%	-224.96%	676.11%	667.27%	380.84%	-1,146.78%	707.07%	685.48%	1,175.08%	532.78%	4,991.90%
Free Cash Flow to Firm to Interest Expense	5.70	5.94	5.15	4.20	4.83	5.28	3.45	4.92	14.50	20.01	20.02
Operating Cash Flow to Interest Expense	2.50	-1.56	1.60	1.77	0.91	-2.64	2.26	0.97	2.05	2.35	3.28
Operating Cash Flow Less CapEx to Interest Expense	1.97	-2.25	1.36	1.51	0.67	-2.87	1.94	0.83	1.88	1.91	3.21
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.67	0.66	0.69	0.72	0.71	0.71	0.71	0.77	0.74	0.69	0.68
Accounts Receivable Turnover	11.88	6.69	6.89	9.84	8.32	6.92	7.01	7.70	6.68	6.41	6.44
Inventory Turnover	3.06	3.16	3.76	3.40	3.43	3.08	3.31	3.18	3.30	2.86	3.04
Fixed Asset Turnover	12.35	13.21	12.91	12.81	15.19	15.78	15.59	16.19	15.84	15.11	15.24
Accounts Payable Turnover	12.11	14.08	13.59	12.44	11.43	15.57	14.50	15.62	16.26	21.95	23.86
Days Sales Outstanding (DSO)	30.72	54.55	52.95	37.11	43.89	52.71	52.08	47.43	54.62	56.97	56.63
Days Inventory Outstanding (DIO)	119.17	115.53	97.11	107.24	106.56	118.41	110.24	114.91	110.62	127.65	120.17
Days Payable Outstanding (DPO)	30.13	25.93	26.86	29.33	31.92	23.44	25.17	23.37	22.44	16.63	15.30
Cash Conversion Cycle (CCC)	119.76	144.15	123.20	115.01	118.52	147.68	137.15	138.97	142.80	167.99	161.51
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	732	757	729	701	692	717	697	604	574	564	530
Invested Capital Turnover	0.80	0.77	0.79	0.83	0.85	0.82	0.81	0.89	0.88	0.80	0.79
Increase / (Decrease) in Invested Capital	-53	-48	-41	-41	-40	-39	-32	-97	-118	-153	-167
Enterprise Value (EV)	784	786	741	898	727	657	655	584	551	469	582
Market Capitalization	343	324	309	476	312	219	232	166	148	80	219
Book Value per Share	$2.32	$2.30	$2.31	$2.16	$2.12	$2.14	$2.02	$1.37	$1.25	$1.27	$60.14
Tangible Book Value per Share	($2.02)	($1.88)	($1.76)	($1.81)	($1.74)	($1.63)	($1.53)	($1.55)	($1.58)	($1.47)	($71.51)
Total Capital	761	780	747	718	707	729	707	610	594	598	590
Total Debt	470	486	450	438	430	450	433	424	423	423	423
Total Long-Term Debt	426	426	426	426	425	424	424	424	423	422	422
Net Debt	440	462	432	421	415	438	423	418	403	389	363
Capital Expenditures (CapEx)	4.17	5.60	2.05	2.27	1.96	1.82	2.59	1.10	1.32	3.36	0.54
Debt-free, Cash-free Net Working Capital (DFCFNWC)	96	134	120	109	111	151	144	137	115	118	99
Debt-free Net Working Capital (DFNWC)	126	158	138	126	126	163	154	143	135	151	158
Net Working Capital (NWC)	82	98	115	113	121	138	145	143	135	151	158
Net Nonoperating Expense (NNE)	16	4.63	5.93	15	6.79	3.17	3.12	31	9.02	-4.06	7.37
Net Nonoperating Obligations (NNO)	440	462	432	421	415	438	423	418	403	389	363
Total Depreciation and Amortization (D&A)	12	13	13	13	14	14	13	13	13	13	14
Debt-free, Cash-free Net Working Capital to Revenue	15.87%	22.40%	20.25%	18.16%	18.40%	25.11%	24.80%	23.56%	20.62%	23.07%	20.34%
Debt-free Net Working Capital to Revenue	20.81%	26.36%	23.28%	20.97%	20.88%	27.11%	26.58%	24.56%	24.13%	29.67%	32.64%
Net Working Capital to Revenue	13.60%	16.40%	19.29%	18.93%	20.01%	22.92%	24.98%	24.52%	24.09%	29.62%	32.59%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($9.00)	($0.04)	($0.02)	($0.15)	($0.06)	($0.50)	($0.06)	($0.67)	($6.50)	$1.08	($3.12)
Adjusted Weighted Average Basic Shares Outstanding	2.47M	125.20M	127.14M	128.29M	127.44M	2.59M	133.29M	134.21M	2.66M	2.71M	2.75M
Adjusted Diluted Earnings per Share	($9.00)	($0.04)	($0.02)	($0.15)	($0.06)	($0.50)	($0.06)	($0.67)	($6.50)	$1.08	($3.12)
Adjusted Weighted Average Diluted Shares Outstanding	2.47M	125.20M	127.14M	128.29M	127.44M	2.59M	133.29M	134.21M	2.66M	2.71M	2.75M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	2.56M	128.87M	129.47M	130.60M	130.65M	2.71M	135.89M	137.03M	2.75M	2.78M	2.80M
Normalized Net Operating Profit after Tax (NOPAT)	-5.25	-0.05	3.36	-5.20	-0.17	2.39	-1.84	-1.70	-8.18	1.51	-0.18
Normalized NOPAT Margin	-3.21%	-0.04%	1.99%	-4.26%	-0.10%	1.67%	-1.26%	-1.36%	-5.63%	1.61%	-0.15%
Pre Tax Income Margin	-14.24%	-3.10%	-1.54%	-16.33%	-5.30%	-1.66%	-5.34%	-71.87%	-13.10%	2.82%	-7.88%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.96	0.45	0.70	-1.33	-0.09	0.70	0.04	-10.53	-1.52	1.35	-0.14
NOPAT to Interest Expense	-1.04	-0.01	0.39	-0.61	-0.02	0.30	-0.53	-7.47	-1.08	-0.15	-0.14
EBIT Less CapEx to Interest Expense	-2.49	-0.25	0.46	-1.60	-0.33	0.47	-0.28	-10.67	-1.70	0.91	-0.21
NOPAT Less CapEx to Interest Expense	-1.57	-0.70	0.15	-0.88	-0.26	0.07	-0.85	-7.61	-1.26	-0.59	-0.21
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Traeger’s latest quarter shows a mixed picture: Q1 2026 was profitable and cash-generating, but the company still carries a heavy debt load and a large amount of intangible assets on the balance sheet. Compared with the same period a year ago, revenue declined and profitability remains inconsistent, even though operating cash flow improved sharply.

Q1 2026 returned to profitability. Traeger posted net income of $2.9 million, versus a loss of $778,000 in Q1 2025.
Operating cash flow improved meaningfully. Cash from operations rose to $17.9 million in Q1 2026 from a negative $20.8 million in Q1 2025.
Cash balance improved sharply. Cash and equivalents increased to $33.7 million from $12.0 million at the end of Q1 2025.
Debt reduction continued modestly. Total debt ticked down slightly sequentially, with short-term debt at just $250,000 and long-term debt at $399.9 million.
Gross profit dollars were solid. Q1 2026 gross profit was $43.0 million on $94.1 million of revenue, showing the company can still produce meaningful margin dollars.
Revenue was still down year over year. Q1 2026 revenue was $94.1 million, compared with $143.3 million in Q1 2025.
Shares outstanding remain elevated. The share count was about 2.7 million in Q1 2026 on the reported statement, but prior periods show much larger weighted averages after the company’s capital structure changes, so dilution remains a factor investors should watch.
Operating income was slightly negative again. Traeger reported an operating loss of $1.0 million in Q1 2026, so core profitability remains fragile.
Interest expense is still a major burden. Interest expense was $7.6 million in Q1 2026, which continues to pressure earnings.
Leverage remains high. Total liabilities were $486.9 million versus only $174.8 million in common equity, leaving the balance sheet highly leveraged.

Longer-term trend: Traeger’s revenue peaked in the 2024–2025 period and then weakened materially through late 2025 and early 2026. The company also recorded several weak or deeply negative quarters in operating income, especially in Q3 2025 when it booked a large impairment charge and restructuring costs. That said, the business has shown it can still generate cash from operations in stronger quarters, which is important given the debt load.

Balance sheet takeaways: The company’s asset base is dominated by intangible assets, which were $376.7 million in Q1 2026. That means a large share of reported assets may not be as liquid or flexible as cash or inventory. Inventory also remains sizable at $87.8 million, so investors should watch for working-capital efficiency and any future write-down risk.

Bottom line: Traeger is showing some signs of stabilization, especially in cash generation and bottom-line improvement versus the prior year. But revenue softness, high interest expense, and elevated leverage still make this a relatively high-risk turnaround story rather than a clean recovery.

08/11/26 05:46 PM ETAI Generated. May Contain Errors.

Traeger Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Traeger's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Traeger's net income appears to be on an upward trend, with a most recent value of -$115.18 million in 2025, rising from -$29.59 million in 2019. The previous period was -$34.01 million in 2024. View Traeger's forecast to see where analysts expect Traeger to go next.

Traeger's total operating income in 2025 was -$97.73 million, based on the following breakdown:

Total Gross Profit: $219.35 million
Total Operating Expenses: $317.07 million

Over the last 6 years, Traeger's total revenue changed from $363.32 million in 2019 to $559.52 million in 2025, a change of 54.0%.

Traeger's total liabilities were at $505.13 million at the end of 2025, a 8.9% decrease from 2024, and a 1.8% decrease since 2020.

In the past 5 years, Traeger's cash and equivalents has ranged from $11.56 million in 2020 to $39.06 million in 2022, and is currently $19.62 million as of their latest financial filing in 2025.

Over the last 6 years, Traeger's book value per share changed from 0.00 in 2019 to 1.25 in 2025, a change of 124.7%.

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Financial statements for NYSE:COOK last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Traeger (COOK) Financials

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Traeger (COOK) Financials

Annual Income Statements for Traeger

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Quarterly Cash Flow Statements for Traeger

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Quarterly Metrics And Ratios for Traeger

Financials Breakdown Chart

Key Financial Trends

Traeger Financials - Frequently Asked Questions

When does Traeger's fiscal year end?

How has Traeger's net income changed over the last 6 years?

What is Traeger's operating income?

How has Traeger's revenue changed over the last 6 years?

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How has Traeger's book value per share changed over the last 6 years?

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