Traeger, Inc. (COOK) Stock

Traeger, Inc. (COOK) is a Consumer Discretionary stock trading at $55.32 (as of 2026-08-21), with a market capitalization of $153.89M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Traeger, Inc. designs, sources, sells, and supports wood pellet–fueled barbeque grills and related products, including internet-connected grill hardware and wood pellets, accessories, replacement parts, and apparel. It serves retailers, distributors, and direct-to-consumer customers in the United States, and provides a companion app and digital content such as recipes and videos.

Understand Traeger, Inc.: how it makes money

Traeger, Inc. designs, sources, sells, and supports wood pellet fueled barbeque grills for retailers, distributors, and direct to consumers in the United States, and it makes money through grill sales and ongoing sales of consumables and accessories tied to an installed base of connected grill owners.

Traeger’s profit engine is the installed base of grills, because repeat buying behavior is supported by the Traeger branded wood pellet purchase rate and higher intent to purchase again for Traeger provisions boxes.

Revenue by segment (latest quarter)
Grills$0.1B
Consumables$0.0B
Accessories$0.0B

Business quality (Weak): Traeger’s model links new grill placements to recurring consumables demand through an installed base of connected users, but the latest quarter shows negative operating margin, so execution on product mix and cost discipline matters.

Valuation: At 319× earnings, COOK trades 1107% above the Consumer Goods average (26×). Note: one-time items can distort reported P/E.

Bull case

  • Installed base supports recurring demand: The company reports an Installed Base of Grills of 2,500,000, and it also tracks repeat-related metrics such as Intent to Purchase Again (Traeger Provisions) at 92% and Traeger Branded Wood Pellet Purchase Rate (Prior Year) at 92%.
  • Engagement indicators suggest an active user community: Traeger reports Connected Cooks of 315,000, Average Grill Uses per Traeger Owner of 56, and Traeger Kitchen Live Weekly Views of 100,000, which align with a connected grill ecosystem rather than one-time hardware sales.
  • Recent inventory actions may reduce near-term balance sheet pressure: Inventory Reduction Versus Prior Year is 31.0%, indicating inventory levels were reduced compared with the prior year.

Bear case

  • Profitability was negative in the latest quarter: Operating margin for the period ended 2026-03-31 was -1.1%, indicating the business did not generate operating profit in that quarter.
  • Revenue concentration risk in product mix: Segment revenue is tied to Grills (0.05B), Consumables (0.03B), and Accessories (0.02B), so any softness in one category could affect total results.
  • Category growth depends on continued repeat purchases: Key repeat behavior is reflected in metrics like Traeger Branded Wood Pellet Purchase Rate (Prior Year) and Intent to Purchase Again (Traeger Provisions), so weakening repeat buying would pressure the consumables-driven portion of the model.
Valuation — source: SEC EDGAR (first-party)
Price$55.32
Market Cap$153.89M
Price / Book0.88
Price / Sales0.30
FCF Yield33.0%
DCF Value (model)$2.42
DCF Upside vs Price-95.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$559.52M
Net Margin-20.6%
Revenue Growth (YoY)-34.3%
EPS Growth (YoY)-10900.0%
FCF Growth (YoY)-164.0%
Financial Health — source: SEC EDGAR
Altman Z-Score7.94 (safe)
Piotroski F-Score4/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Consumer Discretionary)20.7
Industry P/E (Consumer Goods)22.1
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderONTARIO TEACHERS PENSION PLAN BOARD ($26.67M)
Institutional Holders Tracked10
Company
SectorConsumer Discretionary
IndustryConsumer Goods
CEOJeremy Andrus
Employees665
CountryUS
IPO Date2021-07-29

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COOK earnings history · COOK institutional & insider holders · COOK KPIs & operating metrics · COOK financials · COOK investor presentations & press releases · COOK SEC filings · COOK peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.