Yelp Inc Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Yelp Inc has an operating margin of 10.7%, meaning the company retains $11 of operating profit per $100 of revenue. This results in a moderate score of 53/100, indicating healthy but not exceptional operating efficiency. This is up from 5.9% the prior year.
Yelp Inc's revenue grew 5.6% year-over-year to $1.4B, a solid pace of expansion. This earns a growth score of 45/100.
Yelp Inc carries a low D/E ratio of 0.32, meaning only $0.32 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.34, Yelp Inc holds $3.34 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Yelp Inc converts 17.6% of revenue into free cash flow ($248.5M). This strong cash generation earns a score of 88/100.
Yelp Inc earns a strong 17.9% return on equity (ROE), meaning it generates $18 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 71/100. This is up from 13.2% the prior year.
Yelp Inc scores 3.99, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.3B) relative to total liabilities ($239.6M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Yelp Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Yelp Inc generates $2.15 in operating cash flow ($285.8M OCF vs $132.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows Yelp Inc (YELP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Key Financial Metrics
Yelp Inc generated $1.4B in revenue in fiscal year 2024. This represents an increase of 5.6% from the prior year.
Yelp Inc's EBITDA was $191.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 57.9% from the prior year.
Yelp Inc generated $248.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 11.1% from the prior year.
Yelp Inc reported $132.8M in net income in fiscal year 2024. This represents an increase of 34.0% from the prior year.
Yelp Inc earned $1.88 per diluted share (EPS) in fiscal year 2024. This represents an increase of 39.3% from the prior year.
Yelp Inc held $217.3M in cash against $0 in long-term debt as of fiscal year 2024.
Yelp Inc had 66M shares outstanding in fiscal year 2024. This represents a decrease of 4.5% from the prior year.
Yelp Inc's gross margin was 91.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.2 percentage points from the prior year.
Yelp Inc's operating margin was 10.7% in fiscal year 2024, reflecting core business profitability. This is up 4.8 percentage points from the prior year.
Yelp Inc's net profit margin was 9.4% in fiscal year 2024, showing the share of revenue converted to profit. This is up 2.0 percentage points from the prior year.
Yelp Inc's ROE was 17.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 4.6 percentage points from the prior year.
Yelp Inc invested $310.5M in research and development in fiscal year 2024. This represents a decrease of 3.2% from the prior year.
Yelp Inc spent $251.2M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 25.6% from the prior year.
Yelp Inc invested $37.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 39.1% from the prior year.
YELP Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $376.0M+1.5% | $370.4M+3.3% | $358.5M-0.9% | $362.0M+1.4% | $357.0M+7.3% | $332.8M-2.8% | $342.4M-0.8% | $345.1M |
| Cost of Revenue | $36.3M+2.4% | $35.4M+1.8% | $34.8M+4.7% | $33.3M+8.5% | $30.7M+12.1% | $27.4M-7.6% | $29.6M+4.4% | $28.4M |
| Gross Profit | $339.8M+1.4% | $334.9M+3.5% | $323.7M-1.5% | $328.7M+0.7% | $326.3M+6.9% | $305.4M-2.4% | $312.8M-1.3% | $316.8M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $45.5M-1.8% | $46.3M-10.4% | $51.7M+13.7% | $45.5M+1.9% | $44.6M-1.3% | $45.2M-32.3% | $66.8M+46.2% | $45.7M |
| Operating Income | $52.9M-0.8% | $53.3M+80.9% | $29.5M-44.9% | $53.4M+34.4% | $39.7M+254.3% | $11.2M-55.2% | $25.0M-40.3% | $41.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $18.9M+27.0% | $14.9M+37.4% | $10.8M-39.3% | $17.8M+48.3% | $12.0M+151.4% | $4.8M-25.0% | $6.4M+162.7% | -$10.2M |
| Net Income | $39.3M-10.8% | $44.1M+80.8% | $24.4M-42.2% | $42.2M+11.0% | $38.0M+168.7% | $14.2M-48.4% | $27.4M-52.9% | $58.2M |
| EPS (Diluted) | $0.61-9.0% | $0.67+86.1% | $0.36-37.9% | $0.58+7.4% | $0.54+170.0% | $0.20-45.9% | $0.37-53.2% | $0.79 |
YELP Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $989.9M+1.0% | $980.2M-0.5% | $985.2M+0.2% | $983.6M+1.9% | $965.0M-2.9% | $993.5M-2.1% | $1.0B-1.2% | $1.0B |
| Current Assets | $550.3M+8.0% | $509.4M-3.5% | $527.7M+2.1% | $516.9M-11.4% | $583.7M-3.8% | $606.9M-2.8% | $624.2M-0.3% | $625.9M |
| Cash & Equivalents | $231.1M+16.9% | $197.7M-11.0% | $222.0M+2.2% | $217.3M-13.9% | $252.4M-14.7% | $296.0M-5.7% | $313.9M+2.9% | $305.1M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $153.5M-1.6% | $156.0M-1.4% | $158.2M+1.8% | $155.3M+0.9% | $153.9M+4.2% | $147.7M+1.1% | $146.1M-8.4% | $159.6M |
| Goodwill | $135.7M-0.6% | $136.5M+2.0% | $133.8M+2.2% | $131.0M+27.8% | $102.5M-0.3% | $102.8M-1.0% | $103.9M+1.9% | $101.9M |
| Total Liabilities | $256.7M+9.8% | $233.8M-9.1% | $257.2M+7.3% | $239.6M+4.3% | $229.6M-15.4% | $271.5M+2.4% | $265.2M-7.8% | $287.7M |
| Current Liabilities | $184.1M+18.2% | $155.7M-14.6% | $182.4M+17.7% | $155.0M-2.0% | $158.1M-17.4% | $191.3M+8.8% | $175.9M-7.3% | $189.7M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $733.2M-1.8% | $746.4M+2.5% | $728.0M-2.1% | $744.0M+1.2% | $735.3M+1.9% | $722.0M-3.7% | $749.5M+1.3% | $739.6M |
| Retained Earnings | -$1.2B-2.9% | -$1.2B-1.9% | -$1.2B-3.6% | -$1.1B-3.8% | -$1.1B-3.1% | -$1.1B-4.0% | -$1.0B-2.3% | -$1.0B |
YELP Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $131.5M+126.6% | $58.0M-40.8% | $98.0M+38.1% | $71.0M+78.8% | $39.7M-45.5% | $72.9M-8.0% | $79.2M-24.5% | $104.9M |
| Capital Expenditures | $12.6M-3.4% | $13.0M+23.7% | $10.5M-4.4% | $11.0M+14.8% | $9.6M+37.2% | $7.0M+16.5% | $6.0M+5.3% | $5.7M |
| Free Cash Flow | $118.9M+164.2% | $45.0M-48.5% | $87.5M+45.9% | $60.0M+99.2% | $30.1M-54.3% | $65.9M-10.0% | $73.2M-26.2% | $99.2M |
| Investing Cash Flow | -$11.4M+22.3% | -$14.6M-21.8% | -$12.0M+72.0% | -$42.8M-157.3% | -$16.6M-160.0% | -$6.4M+22.1% | -$8.2M-2056.9% | $420K |
| Financing Cash Flow | -$86.2M-23.4% | -$69.9M+14.5% | -$81.7M-15.4% | -$70.8M-6.3% | -$66.6M+20.6% | -$83.8M-31.9% | -$63.5M+9.6% | -$70.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $75.0M+13.7% | $66.0M+5.5% | $62.5M-0.4% | $62.8M+4.4% | $60.2M-3.7% | $62.5M+25.0% | $50.0M0.0% | $50.0M |
YELP Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 90.3%-0.1pp | 90.4%+0.1pp | 90.3%-0.5pp | 90.8%-0.6pp | 91.4%-0.4pp | 91.8%+0.4pp | 91.3%-0.4pp | 91.8% |
| Operating Margin | 14.1%-0.3pp | 14.4%+6.2pp | 8.2%-6.5pp | 14.8%+3.6pp | 11.1%+7.8pp | 3.4%-3.9pp | 7.3%-4.8pp | 12.1% |
| Net Margin | 10.5%-1.4pp | 11.9%+5.1pp | 6.8%-4.9pp | 11.7%+1.0pp | 10.7%+6.4pp | 4.3%-3.8pp | 8.0%-8.9pp | 16.9% |
| Return on Equity | 5.4%-0.5pp | 5.9%+2.6pp | 3.4%-2.3pp | 5.7%+0.5pp | 5.2%+3.2pp | 2.0%-1.7pp | 3.7%-4.2pp | 7.9% |
| Return on Assets | 4.0%-0.5pp | 4.5%+2.0pp | 2.5%-1.8pp | 4.3%+0.4pp | 3.9%+2.5pp | 1.4%-1.3pp | 2.7%-3.0pp | 5.7% |
| Current Ratio | 2.99-0.3 | 3.27+0.4 | 2.89-0.4 | 3.34-0.4 | 3.69+0.5 | 3.17-0.4 | 3.55+0.2 | 3.30 |
| Debt-to-Equity | 0.35+0.0 | 0.31-0.0 | 0.35+0.0 | 0.320.0 | 0.31-0.1 | 0.38+0.0 | 0.35-0.0 | 0.39 |
| FCF Margin | 31.6%+19.5pp | 12.2%-12.2pp | 24.4%+7.8pp | 16.6%+8.1pp | 8.4%-11.4pp | 19.8%-1.6pp | 21.4%-7.4pp | 28.7% |
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Frequently Asked Questions
What is Yelp Inc's annual revenue?
Yelp Inc (YELP) reported $1.4B in total revenue for fiscal year 2024. This represents a 5.6% 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 Yelp Inc's revenue growing?
Yelp Inc (YELP) revenue grew by 5.6% year-over-year, from $1.3B to $1.4B in fiscal year 2024.
Is Yelp Inc profitable?
Yes, Yelp Inc (YELP) reported a net income of $132.8M in fiscal year 2024, with a net profit margin of 9.4%.
What is Yelp Inc's earnings per share (EPS)?
Yelp Inc (YELP) reported diluted earnings per share of $1.88 for fiscal year 2024. This represents a 39.3% 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 Yelp Inc's EBITDA?
Yelp Inc (YELP) had EBITDA of $191.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Yelp Inc's gross margin?
Yelp Inc (YELP) had a gross margin of 91.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Yelp Inc's operating margin?
Yelp Inc (YELP) had an operating margin of 10.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Yelp Inc's net profit margin?
Yelp Inc (YELP) had a net profit margin of 9.4% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Yelp Inc's return on equity (ROE)?
Yelp Inc (YELP) has a return on equity of 17.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Yelp Inc's free cash flow?
Yelp Inc (YELP) generated $248.5M in free cash flow during fiscal year 2024. This represents a -11.1% 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 Yelp Inc's operating cash flow?
Yelp Inc (YELP) generated $285.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Yelp Inc's total assets?
Yelp Inc (YELP) had $983.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Yelp Inc's capital expenditures?
Yelp Inc (YELP) invested $37.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Yelp Inc spend on research and development?
Yelp Inc (YELP) invested $310.5M in research and development during fiscal year 2024.
Does Yelp Inc buy back shares?
Yes, Yelp Inc (YELP) spent $251.2M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Yelp Inc have outstanding?
Yelp Inc (YELP) had 66M shares outstanding as of fiscal year 2024.
What is Yelp Inc's current ratio?
Yelp Inc (YELP) had a current ratio of 3.34 as of fiscal year 2024, which is generally considered healthy.
What is Yelp Inc's debt-to-equity ratio?
Yelp Inc (YELP) had a debt-to-equity ratio of 0.32 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Yelp Inc's return on assets (ROA)?
Yelp Inc (YELP) had a return on assets of 13.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Yelp Inc's Altman Z-Score?
Yelp Inc (YELP) has an Altman Z-Score of 3.99, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Yelp Inc's Piotroski F-Score?
Yelp Inc (YELP) 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 Yelp Inc's earnings high quality?
Yelp Inc (YELP) has an earnings quality ratio of 2.15x, considered cash-backed (high 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.
How financially healthy is Yelp Inc?
Yelp Inc (YELP) scores 76 out of 100 on our Financial Profile, indicating strong 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.