Traeger Inc Financials

COOK

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 31/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Traeger Inc has an operating margin of -0.5%, meaning the company retains $-0 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -9.2% the prior year.

Growth

Traeger Inc's revenue declined 0.3% year-over-year, from $605.9M to $604.1M. This contraction results in a growth score of 28/100.

Leverage

Traeger Inc has a moderate D/E ratio of 1.44. This balance of debt and equity financing earns a leverage score of 58/100.

Liquidity

Traeger Inc's current ratio of 1.99 indicates adequate short-term liquidity, earning a score of 60/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Traeger Inc's free cash flow margin of 2.0% results in a low score of 10/100. Capital expenditures of $12.0M absorb a large share of operating cash flow.

Piotroski F-Score Neutral

6/9

Traeger Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-0.70x

For every $1 of reported earnings, Traeger Inc generates $-0.70 in operating cash flow ($23.9M OCF vs -$34.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-0.1x

Traeger Inc earns $-0.1 in operating income for every $1 of interest expense (-$2.9M vs $33.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Traeger Inc (COOK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$604.1M

YoY-0.3%

5Y CAGR+10.7%

Traeger Inc generated $604.1M in revenue in fiscal year 2024. This represents a decrease of 0.3% from the prior year.

EBITDA

$32.3M

YoY+262.5%

5Y CAGR-5.8%

Traeger Inc's EBITDA was $32.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 262.5% from the prior year.

Free Cash Flow

$11.9M

YoY-73.0%

5Y CAGR+1.6%

Traeger Inc generated $11.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 73.0% from the prior year.

Net Income

-$34.0M

YoY+59.7%

Traeger Inc reported -$34.0M in net income in fiscal year 2024. This represents an increase of 59.7% from the prior year.

EPS (Diluted)

$-0.27

YoY+60.3%

Traeger Inc earned $-0.27 per diluted share (EPS) in fiscal year 2024. This represents an increase of 60.3% from the prior year.

Cash & Debt

$15.0M

YoY-49.9%

5Y CAGR+16.2%

Traeger Inc held $15.0M in cash against $398.4M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

131M

YoY+3.8%

Traeger Inc had 131M shares outstanding in fiscal year 2024. This represents an increase of 3.8% from the prior year.

Gross Margin

42.3%

YoY+5.4pp

5Y CAGR-0.6pp

Traeger Inc's gross margin was 42.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 5.4 percentage points from the prior year.

Operating Margin

-0.5%

YoY+8.7pp

5Y CAGR-3.4pp

Traeger Inc's operating margin was -0.5% in fiscal year 2024, reflecting core business profitability. This is up 8.7 percentage points from the prior year.

Net Margin

-5.6%

YoY+8.3pp

5Y CAGR+2.5pp

Traeger Inc's net profit margin was -5.6% in fiscal year 2024, showing the share of revenue converted to profit. This is up 8.3 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$15.2M

YoY+32.2%

Traeger Inc invested $15.2M in research and development in fiscal year 2024. This represents an increase of 32.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$12.0M

YoY-39.9%

5Y CAGR+9.8%

Traeger Inc invested $12.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 39.9% from the prior year.

COOK Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$604.1M-0.3%	$605.9M-7.6%	$655.9M-16.5%	$785.5M+43.9%	$545.8M+50.2%	$363.3M
Cost of Revenue	$348.6M-8.8%	$382.3M-10.5%	$427.1M-11.9%	$484.8M+55.9%	$311.0M+49.8%	$207.5M
Gross Profit	$255.5M+14.3%	$223.6M-2.3%	$228.8M-23.9%	$300.8M+28.1%	$234.8M+50.7%	$155.8M
R&D Expenses	$15.2M+32.2%	$11.5M+6.5%	$10.8M-42.6%	$18.8M+176.5%	$6.8M	N/A
SG&A Expenses	$113.5M-12.6%	$129.8M-22.2%	$166.8M+5.2%	$158.6M+215.6%	$50.2M+10.9%	$45.3M
Operating Income	-$2.9M+94.7%	-$55.4M+84.0%	-$345.9M-465.7%	-$61.1M-204.8%	$58.3M+458.1%	$10.5M
Interest Expense	$33.5M+7.1%	$31.3M+12.2%	$27.9M+4.6%	$26.6M-21.8%	$34.1M-13.7%	$39.5M
Income Tax	-$2.0M-198.5%	$2.0M+67.4%	$1.2M-20.3%	$1.5M+98.8%	$749K+504.0%	$124K
Net Income	-$34.0M+59.7%	-$84.4M+77.9%	-$382.1M-316.4%	-$91.8M-395.5%	$31.1M+204.9%	-$29.6M
EPS (Diluted)	$-0.27+60.3%	$-0.68+78.7%	$-3.19-289.0%	$-0.82-382.8%	$0.29+207.4%	$-0.27

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$125.4M-13.8%	$145.5M+1.5%	$143.3M-15.0%	$168.6M+0.1%	$168.5M+16.3%	$144.9M-11.4%	$163.5M+38.9%	$117.7M
Cost of Revenue	$76.8M-13.1%	$88.5M+5.6%	$83.8M-16.0%	$99.7M+3.7%	$96.1M+16.7%	$82.4M-20.3%	$103.3M+41.4%	$73.1M
Gross Profit	$48.5M-14.8%	$57.0M-4.1%	$59.5M-13.7%	$68.9M-4.8%	$72.3M+15.6%	$62.6M+4.0%	$60.1M+34.6%	$44.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$22.2M-14.9%	$26.0M+4.0%	$25.0M-6.4%	$26.7M-12.4%	$30.5M-5.1%	$32.1M+24.0%	$25.9M+4.4%	$24.8M
Operating Income	-$83.4M-1267.7%	-$6.1M-278.6%	$3.4M+1533.6%	-$238K-105.0%	$4.8M+6668.5%	-$73K+99.4%	-$11.7M+9.3%	-$12.9M
Interest Expense	$7.8M-3.4%	$8.1M+2.5%	$7.9M-3.6%	$8.2M-5.6%	$8.7M+7.2%	$8.1M+2.9%	$7.9M+4.7%	$7.5M
Income Tax	-$307K+21.5%	-$391K+75.6%	-$1.6M+19.4%	-$2.0M-8170.8%	-$24K-112.6%	$190K-75.4%	$771K-9.5%	$852K
Net Income	-$89.8M-1116.4%	-$7.4M-849.1%	-$778K+88.8%	-$7.0M-169.9%	-$2.6M+44.9%	-$4.7M+80.5%	-$24.0M-24.8%	-$19.3M
EPS (Diluted)	$-0.67-1016.7%	$-0.06-500.0%	$-0.01+83.3%	$-0.06-200.0%	$-0.02+50.0%	$-0.04+77.8%	$-0.18-12.5%	$-0.16

COOK Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$830.7M-3.5%	$860.8M-9.1%	$946.7M-19.6%	$1.2B+19.1%	$989.0M	N/A
Current Assets	$243.1M+12.4%	$216.4M-21.1%	$274.2M+3.0%	$266.2M+68.0%	$158.5M	N/A
Cash & Equivalents	$15.0M-49.9%	$29.9M-23.4%	$39.1M+133.3%	$16.7M+44.9%	$11.6M+63.3%	$7.1M
Inventory	$107.4M+11.6%	$96.2M-37.3%	$153.5M+8.4%	$141.5M+107.3%	$68.3M	N/A
Accounts Receivable	$85.3M+42.4%	$59.9M+42.5%	$42.0M-54.7%	$92.9M+43.3%	$64.8M	N/A
Goodwill	$74.7M0.0%	$74.7M0.0%	$74.7M-74.8%	$297.0M+15.7%	$256.8M	N/A
Total Liabilities	$554.2M-2.7%	$569.4M-6.9%	$611.8M+7.1%	$571.5M+11.1%	$514.5M	N/A
Current Liabilities	$122.2M-8.8%	$134.0M+18.7%	$112.9M-32.1%	$166.2M+107.6%	$80.1M	N/A
Long-Term Debt	$398.4M+0.3%	$397.3M-15.1%	$468.1M+23.4%	$379.4M-12.5%	$433.6M	N/A
Total Equity	$276.4M-5.1%	$291.3M-13.0%	$334.9M-44.7%	$606.0M+27.7%	$474.5M	N/A
Retained Earnings	-$688.9M-5.2%	-$654.9M-14.8%	-$570.5M-202.9%	-$188.3M-95.0%	-$96.5M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$689.6M-11.7%	$780.6M-5.4%	$825.6M-0.6%	$830.7M-1.4%	$842.4M-2.3%	$862.1M+0.2%	$860.8M+2.9%	$836.7M
Current Assets	$215.9M-2.0%	$220.3M-12.8%	$252.6M+3.9%	$243.1M+8.2%	$224.6M-2.6%	$230.5M+6.5%	$216.4M+8.6%	$199.2M
Cash & Equivalents	$5.9M-43.1%	$10.3M-14.4%	$12.0M-19.7%	$15.0M-16.9%	$18.0M-23.7%	$23.6M-21.1%	$29.9M+165.3%	$11.3M
Inventory	$114.6M-1.0%	$115.8M-9.0%	$127.2M+18.5%	$107.4M+17.9%	$91.0M-8.9%	$99.9M+3.9%	$96.2M-5.6%	$101.9M
Accounts Receivable	$80.7M+6.0%	$76.1M-19.8%	$95.0M+11.3%	$85.3M-4.4%	$89.2M+12.9%	$79.0M+31.9%	$59.9M+17.5%	$51.0M
Goodwill	$0-100.0%	$74.7M0.0%	$74.7M0.0%	$74.7M0.0%	$74.7M0.0%	$74.7M0.0%	$74.7M0.0%	$74.7M
Total Liabilities	$503.5M-0.6%	$506.4M-7.3%	$546.0M-1.5%	$554.2M+1.7%	$545.1M-3.9%	$567.5M-0.3%	$569.4M+8.5%	$524.9M
Current Liabilities	$73.0M-3.4%	$75.6M-34.0%	$114.5M-6.3%	$122.2M+11.2%	$110.0M-17.0%	$132.5M-1.1%	$134.0M+23.7%	$108.3M
Long-Term Debt	N/A	N/A	N/A	$398.4M	N/A	N/A	$397.3M	N/A
Total Equity	$186.1M-32.1%	$274.2M-1.9%	$279.6M+1.1%	$276.4M-7.0%	$297.3M+0.9%	$294.6M+1.1%	$291.3M-6.6%	$311.8M
Retained Earnings	-$786.9M-12.9%	-$697.0M-1.1%	-$689.7M-0.1%	-$688.9M-4.0%	-$662.1M-0.4%	-$659.6M-0.7%	-$654.9M-3.8%	-$630.8M

COOK Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$23.9M-62.7%	$64.0M+1157.2%	$5.1M+117.9%	-$28.4M-161.0%	$46.6M+152.1%	$18.5M
Capital Expenditures	$12.0M-39.9%	$19.9M+8.4%	$18.4M-18.2%	$22.5M+59.1%	$14.1M+88.3%	$7.5M
Free Cash Flow	$11.9M-73.0%	$44.1M+431.4%	-$13.3M+73.9%	-$50.9M-256.8%	$32.5M+195.6%	$11.0M
Investing Cash Flow	-$12.3M+29.0%	-$17.4M+8.1%	-$18.9M+76.3%	-$79.9M-192.2%	-$27.3M-203.9%	-$9.0M
Financing Cash Flow	-$26.5M+61.2%	-$68.3M-240.5%	$48.6M-57.2%	$113.5M+868.1%	-$14.8M-59.6%	-$9.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$7.6M-58.7%	$18.3M+187.8%	-$20.8M-378.9%	$7.5M-46.1%	$13.9M+210.1%	-$12.6M-164.0%	$19.7M+6.4%	$18.5M
Capital Expenditures	$1.2M-55.7%	$2.6M+43.8%	$1.8M-6.9%	$2.0M-4.3%	$2.1M-63.9%	$5.7M+33.2%	$4.3M-37.5%	$6.8M
Free Cash Flow	$6.4M-59.2%	$15.7M+169.1%	-$22.7M-511.3%	$5.5M-53.4%	$11.8M+164.6%	-$18.3M-218.6%	$15.4M+32.0%	$11.7M
Investing Cash Flow	-$1.2M+55.9%	-$2.7M-44.5%	-$1.9M+9.3%	-$2.1M+1.9%	-$2.1M+62.8%	-$5.8M-35.3%	-$4.3M+34.6%	-$6.5M
Financing Cash Flow	-$10.8M+37.6%	-$17.3M-187.3%	$19.8M+372.4%	-$7.3M+58.1%	-$17.3M-243.8%	$12.0M+275.4%	$3.2M+121.1%	-$15.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

COOK Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	42.3%+5.4pp	36.9%+2.0pp	34.9%-3.4pp	38.3%-4.7pp	43.0%+0.1pp	42.9%
Operating Margin	-0.5%+8.7pp	-9.2%+43.6pp	-52.7%-45.0pp	-7.8%-18.5pp	10.7%+7.8pp	2.9%
Net Margin	-5.6%+8.3pp	-13.9%+44.3pp	-58.3%-46.6pp	-11.7%-17.4pp	5.7%+13.8pp	-8.2%
Return on Equity	N/A	N/A	N/A	N/A	6.5%	N/A
Return on Assets	-4.1%+5.7pp	-9.8%+30.6pp	-40.4%-32.6pp	-7.8%-10.9pp	3.1%	N/A
Current Ratio	1.99+0.4	1.62-0.8	2.43+0.8	1.60-0.4	1.98	N/A
Debt-to-Equity	1.44+0.1	1.36-0.0	1.40+0.8	0.63-0.3	0.91	N/A
FCF Margin	2.0%-5.3pp	7.3%+9.3pp	-2.0%+4.5pp	-6.5%-12.4pp	5.9%+2.9pp	3.0%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	38.7%-0.5pp	39.2%-2.3pp	41.5%+0.7pp	40.8%-2.1pp	42.9%-0.2pp	43.2%+6.4pp	36.8%-1.2pp	37.9%
Operating Margin	-66.5%-62.3pp	-4.2%-6.6pp	2.4%+2.5pp	-0.1%-3.0pp	2.9%+2.9pp	-0.1%+7.1pp	-7.1%+3.8pp	-10.9%
Net Margin	-71.6%-66.6pp	-5.1%-4.5pp	-0.5%+3.6pp	-4.1%-2.6pp	-1.5%+1.7pp	-3.2%+11.5pp	-14.7%+1.6pp	-16.4%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-13.0%-12.1pp	-0.9%-0.9pp	-0.1%+0.8pp	-0.8%-0.5pp	-0.3%+0.2pp	-0.5%+2.3pp	-2.8%-0.5pp	-2.3%
Current Ratio	2.96+0.0	2.92+0.7	2.21+0.2	1.99-0.1	2.04+0.3	1.74+0.1	1.62-0.2	1.84
Debt-to-Equity	2.70+0.9	1.85-0.1	1.95+0.5	1.44-0.4	1.83-0.1	1.93+0.6	1.36-0.3	1.68
FCF Margin	5.1%-5.7pp	10.8%+26.6pp	-15.8%-19.1pp	3.3%-3.7pp	7.0%+19.6pp	-12.6%-22.1pp	9.4%-0.5pp	9.9%

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Frequently Asked Questions

What is Traeger Inc's annual revenue?

Traeger Inc (COOK) reported $604.1M in total revenue for fiscal year 2024. This represents a -0.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Traeger Inc's revenue growing?

Traeger Inc (COOK) revenue declined by 0.3% year-over-year, from $605.9M to $604.1M in fiscal year 2024.

Is Traeger Inc profitable?

No, Traeger Inc (COOK) reported a net income of -$34.0M in fiscal year 2024, with a net profit margin of -5.6%.

What is Traeger Inc's earnings per share (EPS)?

Traeger Inc (COOK) reported diluted earnings per share of $-0.27 for fiscal year 2024. This represents a 60.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Traeger Inc's EBITDA?

Traeger Inc (COOK) had EBITDA of $32.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Traeger Inc have?

As of fiscal year 2024, Traeger Inc (COOK) had $15.0M in cash and equivalents against $398.4M in long-term debt.

What is Traeger Inc's gross margin?

Traeger Inc (COOK) had a gross margin of 42.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Traeger Inc's operating margin?

Traeger Inc (COOK) had an operating margin of -0.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Traeger Inc's net profit margin?

Traeger Inc (COOK) had a net profit margin of -5.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Traeger Inc's free cash flow?

Traeger Inc (COOK) generated $11.9M in free cash flow during fiscal year 2024. This represents a -73.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Traeger Inc's operating cash flow?

Traeger Inc (COOK) generated $23.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Traeger Inc's total assets?

Traeger Inc (COOK) had $830.7M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Traeger Inc's capital expenditures?

Traeger Inc (COOK) invested $12.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Traeger Inc spend on research and development?

Traeger Inc (COOK) invested $15.2M in research and development during fiscal year 2024.

How many shares does Traeger Inc have outstanding?

Traeger Inc (COOK) had 131M shares outstanding as of fiscal year 2024.

What is Traeger Inc's current ratio?

Traeger Inc (COOK) had a current ratio of 1.99 as of fiscal year 2024, which is generally considered healthy.

What is Traeger Inc's debt-to-equity ratio?

Traeger Inc (COOK) had a debt-to-equity ratio of 1.44 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Traeger Inc's return on assets (ROA)?

Traeger Inc (COOK) had a return on assets of -4.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Traeger Inc's Piotroski F-Score?

Traeger Inc (COOK) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Traeger Inc's earnings high quality?

Traeger Inc (COOK) has an earnings quality ratio of -0.70x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Traeger Inc cover its interest payments?

Traeger Inc (COOK) has an interest coverage ratio of -0.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Traeger Inc?

Traeger Inc (COOK) scores 31 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.