Johnson Outdoors (JOUT) AI Stock Analysis

• Market Cap: $501.55M
• Dividend Yield: 3.22%
• Average Volume (3M): 54.34K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.52
• Revenue Growth: -0.07%
• EPS Growth: -31.45%
• Country: US
• Employees: 1,200
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): -0.33
• Shares Outstanding: 9,246,844
• 10 Day Avg. Volume: 89,602
• 30 Day Avg. Volume: 54,340
• PEG Ratio: -0.43
• Price to Book (P/B): 1.02
• Price to Sales (P/S): 0.72
• P/FCF Ratio: 10.65
• Enterprise Value/Market Cap: 0.92
• Enterprise Value/Revenue: 0.74
• Enterprise Value/Gross Profit: 2.03
• Enterprise Value/Ebitda: 15.62
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 1.05
• Revenue Forecast (FY): $631.09M

• Rating: 69 Neutral
• Price Target: $56.00 ▲(25.25% Upside)
• Action: Reiterated Date: 02/28/26
• Date: Action: Reiterated 02/28/26

The score is driven primarily by improved financial resilience (low leverage and stronger recent cash generation) and supportive technical momentum (price above key moving averages and positive MACD). The latest earnings call added confidence via strong early-fiscal-2026 operational improvement and margin expansion, while the overall score is capped by ongoing losses/negative P/E and remaining profitability and guidance visibility risks.

Positive Factors

Conservative balance sheet / low leverage

Johnson Outdoors' low leverage and sizable equity base provide durable financial flexibility to fund operations, weather seasonal demand swings, and pursue investments without reliance on external borrowing. This conservatism supports resilience across 2–6 month cycles and reduces refinancing risk.

Rebound in cash generation and free cash flow

A meaningful rebound in operating and free cash flow strengthens the firm’s ability to fund dividends, innovation, and working-capital needs from internal sources. Sustainable cash conversion would reduce external financing dependency and support long-term shareholder returns and strategic investments.

Margin expansion and product / channel momentum

Material gross-margin improvement driven by price, overhead absorption, and cost-savings suggests improving unit economics. Combined with strong product demand and accelerating e‑commerce, this supports more durable profitability if management sustains pricing, mix and digital distribution advances.

Negative Factors

Ongoing unprofitability and weak returns

Persistent TTM losses and negative ROE indicate the company has not yet converted revenue into consistent shareholder returns. Until profitability sustainably turns positive, retained earnings and reinvestment capacity remain constrained, limiting long-term capital allocation optionality.

Historically uneven cash conversion

While recent FCF is a strength, historical volatility in operating cash flow raises execution risk: cyclical demand or working-capital swings could quickly reverse cash availability. Dividend and investment policies depend on sustaining current conversion levels.

Tax-rate volatility from valuation allowance

A U.S. valuation allowance signals uncertainty about realizing deferred tax assets until profits stabilize. This creates ongoing tax-rate unpredictability, complicates after-tax margin planning and could persist until the company demonstrates consistent, jurisdictional profitability.

Johnson Outdoors Business Overview & Revenue Model

Company Description

Johnson Outdoors Inc. designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing. This segment sells its products under the Minn Kota, Humminbird, and Cannon brands through outdoor specialty and Internet retailers, retail store chains, original equipment manufacturers, and distributors. The Camping segment provides consumer, commercial, and military tents and accessories; camping furniture and stoves; other recreational camping products; and portable outdoor cooking systems, as well as manufactures fabric floors and insulated thermal liners and a subcontract manufacturer of military tents. This segment sells its products under the Eureka! and Jetboil brands through independent sales representatives and Internet retailers. The Watercraft Recreation segment offers kayaks, canoes, and paddles for family recreation, touring, angling, and tripping through independent specialty and outdoor retailers under the Ocean Kayaks, Old Town, and Carlisle brands. The Diving segment manufactures and markets underwater diving and snorkeling equipment, such as regulators, buoyancy compensators, dive computers and gauges, wetsuits, masks, fins, snorkels, and accessories through independent specialty dive stores and diving magazines under the SCUBAPRO brand name. This segment also provides regular maintenance, product repair, diving education, and travel program services; and sells diving gear to dive training centers, resorts, public safety units, and armed forces. It sells its products through Websites. The company was founded in 1970 and is headquartered in Racine, Wisconsin.

How the Company Makes Money

Johnson Outdoors generates revenue through the sale of its diverse range of outdoor recreational products across various channels. The company primarily earns money from retail sales, both through traditional brick-and-mortar stores and online platforms. Key revenue streams include the sale of watercraft, fishing gear, diving equipment, and camping supplies. Additionally, Johnson Outdoors benefits from seasonal demand fluctuations, with peak sales often occurring during warmer months when outdoor activities are most popular. The company also engages in partnerships with retailers and distributors to expand its market reach, while branding and marketing efforts enhance customer loyalty and brand recognition, contributing to its overall earnings.

Johnson Outdoors Financial Statement Overview

Summary

Balance sheet strength (low leverage and sizeable equity base) and a meaningful rebound in operating/free cash flow support financial resilience. However, profitability is still weak (TTM net loss and negative ROE) and earnings have been volatile, which keeps the financial score only moderately positive.

Income Statement

TTM (Trailing-Twelve-Months) revenue is up 5.6% and gross margin improved to ~36% versus the prior year, showing some stabilization in demand and pricing/mix. However, profitability remains weak: net income is still negative in TTM (about -3.6% net margin) and results have been volatile over the last several years, swinging from solid profits (2021–2023) to losses (2024–TTM). The sharp drop in operating profitability from the 2021 peak suggests execution and/or end-market normalization is still pressuring earnings power.

Balance Sheet

The balance sheet looks conservatively positioned with low leverage: debt-to-equity is ~0.11 in TTM and has remained around this level historically. Equity is sizable relative to assets, which provides flexibility to absorb cyclical downturns. The key weakness is returns: return on equity is negative in TTM (about -5.2%), reflecting that the company is currently not generating adequate profits despite a solid capital base.

Cash Flow

Cash generation improved meaningfully in TTM, with operating cash flow (~$93M) and free cash flow (~$77M) both materially higher than the most recent annual period, and free cash flow growth very strong versus the prior year. This is a notable strength given ongoing net losses, suggesting working-capital or non-cash dynamics are supporting cash flow in the near term. The main concern is consistency: cash flow has been uneven historically (including a year with negative operating and free cash flow), so investors should watch durability of the current cash conversion.

Breakdown	TTM	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	625.70M	592.41M	592.85M	663.84M	743.36M	751.65M
Gross Profit	227.52M	208.09M	200.98M	244.09M	271.33M	334.13M
EBITDA	29.55M	11.57M	-10.10M	42.27M	73.28M	126.47M
Net Income	-22.30M	-34.29M	-26.53M	19.53M	44.49M	83.38M
Balance Sheet
Total Assets	600.13M	604.10M	635.21M	681.61M	679.93M	674.29M
Cash, Cash Equivalents and Short-Term Investments	130.73M	176.40M	162.04M	138.62M	129.80M	240.45M
Total Debt	85.57M	48.68M	49.33M	52.34M	57.90M	49.99M
Total Liabilities	186.58M	185.68M	171.79M	181.87M	191.92M	215.78M
Stockholders Equity	413.55M	418.42M	463.42M	499.74M	488.01M	458.50M
Cash Flow
Free Cash Flow	38.52M	40.23M	18.97M	19.05M	-93.83M	36.91M
Operating Cash Flow	54.70M	56.21M	40.98M	41.71M	-62.14M	58.32M
Investing Cash Flow	-9.65M	-11.86M	5.03M	-48.37M	-31.68M	-21.38M
Financing Cash Flow	-13.59M	-13.56M	-13.70M	-12.73M	-12.23M	-9.03M

Johnson Outdoors Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 44.71
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JOUT, the sentiment is Positive. The current price of 44.71 is below the 20-day moving average (MA) of 49.04, below the 50-day MA of 46.22, and above the 200-day MA of 38.60, indicating a neutral trend. The MACD of 1.21 indicates Positive momentum. The RSI at 50.94 is Neutral, neither overbought nor oversold. The STOCH value of 65.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JOUT.

Johnson Outdoors Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JOUT	69 Neutral	$501.55M	-21.98	-7.78%	3.22%	-0.07%	-31.45%
GOLF	63 Neutral	$6.00B	32.90	25.91%	1.15%	4.20%	24.12%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
AOUT	49 Neutral	$114.54M	-20.63	-3.19%	―	2.85%	24.82%
CLAR	45 Neutral	$121.35M	-1.50	-33.17%	2.93%	30.34%	-1749.06%
YYAI	25 Underperform	$33.78M	-7.13	-4.97%	―	61.04%	99.61%

Johnson Outdoors Corporate Events

Johnson Outdoors Shareholders Approve Board, Auditor and Incentive Plans

At its annual meeting of shareholders held on February 26, 2026, Johnson Outdoors Inc. re-elected all nominated Class A and Class B directors, with no competing nominations, maintaining continuity on the board. Shareholders also ratified the appointment of RSM US LLP as independent auditor for the fiscal year ending October 2, 2026, and approved on an advisory basis the executive compensation program disclosed for the meeting.

Investors further endorsed amendments to the 2020 Long-Term Stock Incentive Plan and the 2023 Non-Employee Director Stock Ownership Plan, increasing the pool of Class A common shares available under both programs. The voting outcomes, reflecting the higher voting power of Class B shares, reinforce management’s compensation and governance approach and provide additional equity capacity to support long-term incentives for executives and directors.

The most recent analyst rating on (JOUT) stock is a Buy with a $53.00 price target. To see the full list of analyst forecasts on Johnson Outdoors stock, see the JOUT Stock Forecast page.

Johnson Outdoors Declares Quarterly Dividend, Signals Ongoing Stability

On February 27, 2026, Johnson Outdoors Inc. announced that its board approved a quarterly cash dividend of $0.33 per Class A share and $0.30 per Class B share, underscoring the company’s continued practice of returning capital to shareholders. The dividend is scheduled to be paid on April 30, 2026, to shareholders of record as of the close of business on April 16, 2026, providing income-oriented investors with clearer visibility into the company’s near-term cash distribution plans.

The decision signals confidence by the board in Johnson Outdoors’ financial position and cash-generating ability despite broader macroeconomic and industry uncertainties. For stakeholders, the ongoing dividend program may enhance the stock’s appeal among long-term investors and supports the company’s positioning as a stable, shareholder-friendly participant in the outdoor recreation equipment sector.

The most recent analyst rating on (JOUT) stock is a Buy with a $53.00 price target. To see the full list of analyst forecasts on Johnson Outdoors stock, see the JOUT Stock Forecast page.

Johnson Outdoors Announces Quarterly Cash Dividend Approval

On December 5, 2025, Johnson Outdoors Inc. announced that its Board of Directors approved a quarterly cash dividend of $0.33 per Class A share and $0.30 per Class B share, payable on January 22, 2026, to shareholders of record as of January 8, 2026. This decision reflects the company’s ongoing commitment to returning value to its shareholders and may positively impact its market positioning by reinforcing investor confidence.

The most recent analyst rating on (JOUT) stock is a Hold with a $45.00 price target. To see the full list of analyst forecasts on Johnson Outdoors stock, see the JOUT Stock Forecast page.