Traeger, Inc. (COOK) Market Cap
Traeger, Inc. has a market capitalization of $108.1M.
Financials based on reported quarter end 2025-12-31
Price: $39.37
▼ -3.81 (-8.82%)
Market Cap: 108.07M
NYSE · time unavailable
CEO: Jeremy Andrus
Sector: Consumer Cyclical
Industry: Furnishings, Fixtures & Appliances
IPO Date: 2021-07-29
Website: https://www.traegergrills.com
Traeger, Inc. (COOK) - Company Information
Market Cap: 108.07M · Sector: Consumer Cyclical
Traeger, Inc., together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbeque grills for retailers, distributors, and direct to consumers in the United States. Its wood pellet grills are internet of things devices that allow owners to program, monitor, and control their grill through its Traeger app. The company also produces a library of digital content, including instructional recipes and videos that demonstrate tips, tricks, and cooking techniques that empower Traeger owners to progress their cooking skills; and short- and long-form branded content highlighting stories, community members, and lifestyle content from the Traegerhood. In addition, it provides wood pellets that are used to fire the grills; rubs and sauces, seasonings, and marinades; covers, drip trays, bucket liners, and shelves; tools to aid in meal prep, cooking, and cleanup, including pellet storage systems, cleaning solutions, barbecue tools, and MEATER smart thermometer; replacement parts; and apparel and merchandise. The company was incorporated in 2017 and is headquartered in Salt Lake City, Utah.
Analyst Sentiment
Based on 12 ratings
Analyst 1Y Forecast: $75.00
Average target (based on 3 sources)
Consensus Price Target
Low
$75
Median
$75
High
$75
Average
$75
Potential Upside: 90.5%
Price & Moving Averages
Related Companies in Consumer Cyclical
CLARUS CORP (CLAR)
Consumer Cyclical
$0.11B
Mkt Cap
AMERICAS CAR MART INC (CRMT)
Consumer Cyclical
$0.12B
Mkt Cap
LAKELAND INDUSTRIES INC (LAKE)
Consumer Cyclical
$0.12B
Mkt Cap
VIRCO MANUFACTURING CORP (VIRC)
Consumer Cyclical
$0.10B
Mkt Cap
MEDIFAST INC (MED)
Consumer Cyclical
$0.12B
Mkt Cap
AMERICAN OUTDOOR BRANDS INC (AOUT)
Consumer Cyclical
$0.12B
Mkt Cap
Fundamentals Overview
📊 AI Financial Analysis
Powered by StockMarketInfo"COOK reported a revenue of $145.36M for the year ending December 31, 2025, with a net income loss of $17.2M, resulting in an EPS of -$0.13. The company showcases significant growth, reflecting a tremendous 1-year price appreciation of 1440.45%, signaling strong market interest despite recent losses. Operating cash flow stands at $15.51M, indicating a positive operating environment, while free cash flow is at $14.19M, suggesting an adequate level of internal financing amid capital expenditures. The balance sheet displays total assets of $675.98M against total liabilities of $505.13M, resulting in total equity of $170.85M. Although net debt amounts to $405.91M, the substantial equity provides some cushion against leverage risk. Shareholder returns are currently impacted by the lack of dividends, but the stellar price performance may attract investors focused on capital gains. Overall, the valuation context appears bullish, with a price target of $1.50, well below the current price, indicating potential overvaluation. "
Revenue Growth
Strong revenue growth demonstrated with reported figures.
Profitability
Net income is negative, indicating profitability challenges.
Cash Flow Quality
Positive operating cash flow reflects operational efficiency.
Leverage & Balance Sheet
Moderate leverage shown with significant net debt.
Shareholder Returns
Exceptional share price appreciation significantly boosts total returns.
Analyst Sentiment & Valuation
Price target suggests potential overvaluation despite strong growth.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
Management’s tone is confident on the long-term brand and on Project Gravity’s structural improvements (run-rate savings of ~$58M and total value ~$64M–$70M; plus incremental $6M–$12M from SKU/pricing). However, the Q&A and the guidance math show near-term earnings drag is still real and largely policy/action-driven rather than demand deterioration. Analyst follow-ups focused on quantifying the DTC/Costco/international exit impact, and management anchored the revenue shift at ~ $70M total (with pricing elasticity + Project Gravity together). The missing ~$15M of the midpoint revenue decline was attributed to MEATER pressure and “marketplace health initiatives” (right-sizing inventory pockets with higher weeks of supply), while gross margin remains pressured by full-year tariffs and promo deleverage (Q4: -350 bps gross margin). The blend of cost/cash optimism with ongoing MEATER and tariff-driven variability keeps the setup cautious into 2026.
Growth Catalysts
- Woodridge platform traction: Easy Clean Grease & Ash Keg (increased cooking space) and free flow fire pot (better smoke) supporting “approachable price points”; management cites strong consumer reception and expects it to be meaningful for grills in 2026
- Pellets/consumables strength: consumables revenue +16% YoY in Q4; pellets unit volume growth supports category durability and replacement outlook
- Brand engagement/installed base signal: 315,000 connected cooks on Thanksgiving (+11% YoY), supporting demand durability and pellet attach
Business Development
- Project Gravity channel actions: exiting the Costco roadshow
- Direct-to-consumer (DTC) wind-down as part of Project Gravity
- Transition to a distributor model in Europe
- MEATER operational change: closing the U.K. operation and integrating MEATER into Salt Lake City infrastructure
Financial Highlights
- Full-year 2025 revenue: $560 million (above high end of guidance). Full-year adjusted EBITDA: $70 million (upper half of range)
- Q4 2025 revenues: $145 million (-14% YoY). Grow revenues: $61 million (-22% YoY); consumables: $36 million (+16% YoY); accessories: $49 million (-18% YoY) with MEATER negative sales growth
- Q4 gross margin: 37.4% (-350 bps YoY). Excluding $3 million Project Gravity-related costs: adjusted gross margin 39.5% (-130 bps YoY)
- Q4 net loss: $17 million vs $7 million net loss in Q4 2024; diluted EPS: loss of $0.13 vs loss of $0.05
- Q4 adjusted net income: $2 million ($0.01 diluted EPS) vs $2 million ($0.01) in Q4 2024
- Q4 adjusted EBITDA: $19 million (+6% YoY vs $18 million)
- 2026 guidance: revenue $465 million to $485 million; adjusted EBITDA $50 million to $60 million
- 2026 gross margin guidance: 38% to 39% (down 120 bps to down 20 bps vs 2025)
- 2026 operating expense outlook: meaningful improvement as Project Gravity benefits ramp; Project Gravity expected adjusted EBITDA benefit ~ $50 million in 2026 (vs ~$20 million realized in 2025; ~ $30 million incremental benefit)
Capital Funding
- Liquidity/balance sheet: cash and cash equivalents $20 million (vs $15 million end of 2024); total net debt $384 million (debt $403 million)
- Net debt change: declined by $10 million in fiscal 2025
- Q4 liquidity: $162 million ample liquidity
- Revolver/amendment: revolver capacity steps down by $30 million in Q2 2026 (no operational impact); remaining $82.5 million available through Dec 2027 and currently undrawn
- Cash flow: CFO $16 million in Q4 driven by working capital management and Project Gravity cost savings
- Free cash flow expectation: at least $30 million in fiscal 2026 (driven by inventory reductions/working capital management) to support net debt reduction
Strategy & Ops
- Project Gravity Phase 1: organizational efficiency and foundational cost actions; includes integrating MEATER into Salt Lake City infrastructure
- Project Gravity Phase 2: channel optimization and simplification—exiting the Costco roadshow; winding down DTC commerce; transitioning to distributor model in Europe; additional organizational changes in Q4
- Run-rate savings: Project Gravity savings expected to deliver ~$58 million run-rate savings (benefits beginning 2025 and continuing through 2026)
- Incremental value capture: SKU rationalization and pricing expected to drive incremental ~$6 million to $12 million run-rate value with majority benefit realized in 2027–2028
- Total Project Gravity value now expected: ~$64 million to $70 million across both phases
- Market/inventory actions: proactively managing selective pockets of elevated inventory/weeks of supply; right-sizing to reduce weeks of supply
- MEATER near-term prioritization: inventory health and margin discipline after elevated MEATER inventory from reset; centralizing MEATER office and resourcing growth plan
Market Outlook
- 2026 revenue decline drivers quantified: total year-over-year decline ~ $70 million; about just over half from Project Gravity actions net of recapture; remaining ~ $15 million (analyst clarification) tied to (1) ongoing MEATER pressure and (2) marketplace health/right-sizing inventory pockets
- Q1 explicit guidance: revenue $92 million to $97 million; adjusted EBITDA $3 million to $7 million
- Seasonality/timing: 2026 first-half seasonality broadly consistent historically, but new product load-ins occur in Q2 rather than Q1
- Tariff framework limitation: 2026 guidance is based on tariff framework in effect through mid-February and does not incorporate recently announced changes
Risks & Headwinds
- Tariffs and elasticity: management cites tariffs driving volatility in ordering behavior and full-year annualization of tariff-related elasticity impacts into 1H 2026
- Margin compression: Q4 gross margin down 350 bps YoY; adjusted gross margin down 130 bps YoY due to tariff-related costs and promo deleverage (partially offset by supply chain efficiencies)
- Revenue pressure in 2026 from deliberate actions and timing dynamics: Project Gravity (Costco roadshow exit, DTC wind-down, international market exits) and annualized elasticity impacts
- Accessories/MEATER headwind: accessories revenue -18% in Q4 driven by negative MEATER sales growth; 2026 includes continued competitive pressure in LTE and ongoing MEATER reset/inventory pressure
- Marketplace health risk: divergence between sell-through and sell-in in 2026; right-sizing inventory pockets with higher weeks of supply
- Promotion timing and direct import mix: expected to pressure gross margin rate in Q1 and benefit later quarters
Sentiment: CAUTIOUS
Note: This summary was synthesized by AI from the COOK Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.