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Yelp

YELP NYSE Interactive Media & Services Financials FY2016–FY2025

Yelp's revenue rose 3.8% to $1.5 billion in fiscal 2025. Its operating margin was 12.6%, up from 10.7% a year earlier. Free cash flow was $324 million, up 30.3%. It paid out $291 million in dividends and buybacks, 90% of free cash flow. The diluted share count fell 7.8%.

Last close · Oct 23, 2026

$19.99

3.4%
Value it Compare
Revenue Total sales reported in the income statement.
$1.5B
3.7% vs prior year
Operating margin Operating income as a share of revenue.
12.6%
1.9 pts
Net income Profit after all expenses, interest and tax.
$146M
9.6%
Free cash flow Cash from operations minus capital spending.
$324M
30.3%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$1.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
9.6x
On $2.09 EPS (TTM)

About these figures. Yelp has no borrowings, but its 2016 filing tags other long-term liabilities as long-term debt, so debt is left blank.

What Yelp does

No business description yet.

Legal name
YELP INC
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001345016-26-000019
0001345016

Revenue and margins

Yelp had $1.5B of revenue in fiscal 2025, up 3.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $324M in fiscal 2025, 22.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Yelp returned $291M to shareholders in fiscal 2025, 90% of free cash flow. The diluted share count fell 7.8%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Yelp yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of — and divides by 65.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 9.6x · peers 33.5x · sector 17.3x.

Balance sheet

Cash, debt and the ratios that show how comfortably Yelp can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $480M$401M$441M$318M$319M
Current ratio 3.9x3.3x3.6x3.3x3.0x
Quick ratio 3.9x3.3x3.6x3.3x3.0x
Total assets $1.1B$1.0B$1.0B$984M$959M
Total liabilities $299M$306M$265M$240M$248M
Shareholders' equity $751M$710M$750M$744M$711M
Net debt (− = net cash) —————

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$2.0M

5 insiders

Of sales under plans

100%

$2.0M

DateInsiderTradeSharesPriceValueFiling
Oct 15, 2026 David A SchwarzbachChief Financial Officer Sold plan 7,500 $20.00 $0.2M Form 4
Sep 1, 2026 Carmen AmaraChief People Officer Sold plan 500 $22.14 $0.0M Form 4
Aug 24, 2026 Alexander Coleman LevyChief Technology Officer Sold plan 3,829 $23.40 $0.1M Form 4
Aug 21, 2026 David A SchwarzbachChief Financial Officer Sold plan 8,809 $23.19 $0.2M Form 4
Aug 3, 2026 Joseph R NachmanChief Operating Officer Sold plan 4,500 $26.91 $0.1M Form 4
Jul 2, 2026 Carmen AmaraChief People Officer Sold plan 23,233 $27.00 $0.6M Form 4
Jul 1, 2026 Carmen AmaraChief People Officer Sold plan 1,500 $24.95 $0.0M Form 4
Jul 1, 2026 Joseph R NachmanChief Operating Officer Sold plan 4,500 $25.00 $0.1M Form 4
Jun 30, 2026 Joseph R NachmanChief Operating Officer Sold plan 9,000 $25.00 $0.2M Form 4
Jun 5, 2026 Carmen AmaraChief People Officer Sold plan 1,000 $24.00 $0.0M Form 4
Jun 1, 2026 Carmen AmaraChief People Officer Sold plan 500 $22.84 $0.0M Form 4
Jun 1, 2026 Christine BaroneDirector Sold plan 15,507 $22.95 $0.4M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets — — —
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✕ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✓ ✓ ✓
F-score — / 9— / 9— / 9
Accruals ratio −20.4%−15.3%−23.3%
Altman Z'' 3.102.932.26

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Yelp YELP $1.1B 3.8% 12.6% 22.1% — 9.6x —
QuinStreet QNST $961M 18.3% 2.7% 9.9% 17.4% 11.8x 7 Compare →
ZoomInfo GTM $1.3B 2.9% 18.1% 31.2% 5.3% — 7 Compare →
Tripadvisor TRIP $1.1B 3.1% 4.2% 8.6% 8.9% 156.8x 6 Compare →
Reddit RDDT $29.1B 69.4% 20.1% 31.1% 119.1% 33.6x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $716M $851M $943M $1.0B $873M $1.0B $1.2B $1.3B $1.4B $1.5B
Gross profit $656M $780M $885M $952M $816M $954M $1.1B — — —
Research and development $133M $171M $206M $226M $230M $265M $295M $321M $311M $298M
Operating income −$2.0M $180M $25.9M $35.5M −$38.8M $31.5M $58.4M $79.0M $151M $185M
Pretax income −$0.3M $185M $40.0M $49.8M −$35.1M $33.7M $66.8M $105M $183M $204M
Income tax $1.4M $31.5M −$15.3M $8.9M −$15.7M −$6.0M $30.4M $5.9M $50.1M $58.4M
Net income −$1.7M $153M $55.3M $40.9M −$19.4M $39.7M $36.3M $99.2M $133M $146M
Diluted EPS −$0.02 $1.76 $0.62 $0.52 −$0.27 $0.50 $0.50 $1.35 $1.88 $2.24
Diluted shares 0.08B 0.09B 0.09B 0.08B 0.07B 0.08B 0.07B 0.07B 0.07B 0.07B
Cash flow
Cash from operations $127M $168M $160M $205M $177M $213M $192M $306M $286M $372M
Capital expenditure $23.0M $30.2M $45.0M $37.5M $32.0M $28.3M $32.0M $26.8M $37.3M $48.4M
Free cash flow $104M $137M $115M $167M $145M $184M $160M $279M $248M $324M
Depreciation and amortization $35.3M $41.2M $42.8M $49.4M $50.6M $55.7M $44.9M $42.2M $40.4M $50.1M
Stock-based compensation $86.3M $100M $114M $122M $125M $152M $156M $174M $158M $134M
Acquisitions $0.0M $50.5M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $66.2M $0.0M
Share buybacks $0.0M $12.6M $187M $481M $24.4M $263M $200M $200M $251M $291M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $12.6M $187M $481M $24.4M $263M $200M $200M $251M $291M
Balance sheet
Cash and short-term investments $480M $821M $756M $412M $596M $480M $401M $441M $318M $319M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $561M $913M $860M $533M $713M $645M $596M $624M $517M $515M
Current liabilities $60.4M $86.2M $64.9M $134M $143M $164M $183M $176M $155M $172M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $92.4M $104M $115M $111M $102M $83.9M $77.2M $68.7M $75.7M $91.7M
Total assets $885M $1.2B $1.2B $1.1B $1.2B $1.1B $1.0B $1.0B $984M $959M
Total liabilities $78.0M $117M $100M $316M $300M $299M $306M $265M $240M $248M
Shareholders' equity $816M $1.1B $1.1B $755M $855M $751M $710M $750M $744M $711M
Margins
Gross margin 91.6% 91.7% 93.9% 93.9% 93.5% 92.4% 91.1% — — —
Operating margin −0.3% 21.1% 2.8% 3.5% −4.4% 3.1% 4.9% 5.9% 10.7% 12.6%
EBITDA margin 4.7% 26.0% 7.3% 8.4% 1.4% 8.5% 8.7% 9.1% 13.6% 16.0%
Net margin −0.2% 18.0% 5.9% 4.0% −2.2% 3.8% 3.1% 7.4% 9.4% 9.9%
FCF margin 14.5% 16.2% 12.2% 16.5% 16.6% 17.9% 13.4% 20.9% 17.6% 22.1%
Returns
Return on capital employed −0.3% 18.3% 2.3% 3.5% −4.0% 3.3% 6.8% 9.5% 18.1% 22.9%
Return on equity −0.2% 15.9% 5.1% 4.5% −2.4% 4.9% 5.0% 13.6% 17.8% 20.0%
Return on assets −0.2% 14.5% 4.6% 3.6% −1.8% 3.6% 3.5% 9.8% 13.3% 15.0%
Growth
Revenue growth 30.3% 18.8% 10.8% 7.6% −13.9% 18.2% 15.7% 12.0% 5.6% 3.8%
Net income growth — — −63.8% −26.1% −147.5% — −8.4% 172.9% 34.0% 9.6%
EPS growth — — −64.8% −16.1% −151.9% — 0.0% 170.0% 39.3% 19.2%
FCF growth 296.1% 32.2% −16.2% 45.2% −13.5% 27.4% −13.0% 74.3% −11.1% 30.3%
Share count change 3.4% 12.9% 1.8% −12.1% −6.4% 7.7% −6.6% 0.3% −4.1% −7.8%
Financial health
Current ratio 9.3x 10.6x 13.3x 4.0x 5.0x 3.9x 3.3x 3.6x 3.3x 3.0x
Quick ratio 9.3x 10.6x 13.3x 4.0x 5.0x 3.9x 3.3x 3.6x 3.3x 3.0x
Capital allocation
Capex / revenue 3.2% 3.6% 4.8% 3.7% 3.7% 2.7% 2.7% 2.0% 2.6% 3.3%
Stock comp / revenue 12.1% 11.8% 12.1% 12.0% 14.3% 14.7% 13.1% 13.0% 11.2% 9.2%
Payouts / FCF 0.0% 9.1% 162.6% 287.6% 16.9% 142.6% 124.8% 71.6% 101.0% 89.9%
Quality scores
Altman Z'' 14.4 15.6 15.7 3.7 4.5 3.5 2.5 3.1 2.9 2.3
Accruals ratio −15.7% −1.4% −8.7% −14.6% −17.6% −15.7% −15.1% −20.4% −15.3% −23.3%

Source: SEC EDGAR XBRL filings (CIK 0001345016). Data updated October 11, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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