Convert boolean value to yes/no by angular directive

I need to show Boolean value to yes/no using directive. My directive is given below

 directives.directive('niBooltoYesno',
        function () {
            return {
                restrict: 'EA',
                require: 'ngModel',
                link: function (scope, element, attrs, ngModel) {
                    function formatter(value) {
                        if (value) {
                            return value === true ? 'Yes' : 'No';
                        } else {
                            return '';
                        }
                    }
                    ngModel.$formatters.push(formatter);

                }
            };
        });

<ni-boolto-yesno data-ng-model="set_unit.isActive" ></ni-boolto-yesno>

But it does not work. Please help me in this point.

You're not using the right tool for the job. This should be a filter:

{{ someBooleanValue | yesNo }}

The filter would be as simple as

module.filter('yesNo', function() {
    return function(input) {
        return input ? 'yes' : 'no';
    }
}

Even if you still choose to use a directive, you don't need ngModel and formatters, which is used on form fields that must read and write to a model. All you need is a template:

module.directive('yesNo', function() {
    return {
        template: '<span>{{ yesNo ? "yes" : "no" }}</span>',
        scope: {
            yesNo: '='
        }
    };
});

and you woud use it as

<span yes-no="someBoolean"></span>

The problem is in if (value). This causes the return value === true ? ... line to be processed only when the value is actually truthy (i.e. never for false). You just need to construct the conditions properly:

function formatter (value) {
    return (value === true) ? 'Yes' : ((value === false) ? 'No' : '');
}

A version with better readability:

function formatter (value) {
    if (value === true) {
        return 'Yes';
    } else if (value === false) {
        return 'No';
    } else {
        return '';
    }
}

Edit: I haven't looked at your HTML. As another answer points out, using ng-model for this is a bad idea, creating a filter should suit you just fine.