YELP INC.

YELP · Consumer Discretionary · $1.6B mkt cap · FY2025 filings · Wide moat

Wonderful & reasonably priced

Wide moat

The four filters

Pricing power100

Median gross margin 92.4% over 7y, very stable.

Returns on capital45

Median ROIC 10.5%, above the 9% hurdle in 60% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline100

Owner earnings +33.9%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

23% below value

Owner earnings (normalized): $114.5M
Est. intrinsic value / share: $34.38
Recent price: $26.42
Discount to value: 23% below value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell YELP. See the disclaimer.