Johnson Outdoors Inc. (JOUT)
NASDAQ:JOUT
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Johnson Outdoors
(NASDAQ:JOUT)
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Rating:72Outperform
Price Target:
$45.00
▲(0.65% Upside)
Action:Upgraded
Date:05/09/26
The score is driven primarily by strengthening financial quality (strong cash flow and a conservatively levered balance sheet) and a constructive earnings-call backdrop highlighting strong sales growth and margin recovery. Valuation is supportive with a moderate P/E and solid dividend yield, while technicals are only moderately positive due to mixed momentum and near-term consolidation signals.
Positive Factors
Strong cash generation
Sustained, material operating and free cash flow provides durable financial flexibility: it funds dividends, R&D and inventory without relying on debt, supports shareholder returns and cushions cyclical swings. The sharp FCF step-up versus prior year materially improves funding optionality.
Negative Factors
Profitability still negative; margin volatility
Persistent negative TTM earnings and multi-year margin swings indicate underlying profit instability. Until margins consistently sustain the recent improvement, return on capital and capacity to self-fund long-term investments remain uncertain, constraining strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained, material operating and free cash flow provides durable financial flexibility: it funds dividends, R&D and inventory without relying on debt, supports shareholder returns and cushions cyclical swings. The sharp FCF step-up versus prior year materially improves funding optionality.
Read all positive factors
Johnson Outdoors (JOUT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$422.84M
Dividend Yield3.22%
Average Volume (3M)54.34K
Price to Earnings (P/E)12.8
Beta (1Y)0.54
Revenue Growth17.59%
EPS Growth68.88%
CountryUS
Employees1,200
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)-1.48
Shares Outstanding9,246,844
10 Day Avg. Volume89,602
30 Day Avg. Volume54,340
Financial Highlights & Ratios
PEG Ratio-0.43
Price to Book (P/B)1.02
Price to Sales (P/S)0.72
P/FCF Ratio10.65
Enterprise Value/Market Cap0.90
Enterprise Value/Revenue0.58
Enterprise Value/Gross Profit1.55
Enterprise Value/Ebitda10.70
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1
Revenue Forecast (FY)$650.81M
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 ...
How the Company Makes Money
Johnson Outdoors makes money primarily by selling outdoor recreation products across its operating segments. Revenue is generated from wholesale sales to retailers and distributors (where products are sold through outdoor specialty stores and broa...
Johnson Outdoors Earnings Call Summary
Earnings Call Date:May 08, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Jul 31, 2026
Earnings Call Sentiment Positive
The call presented multiple strong operational and financial positives—notably robust revenue growth (Q2 +15.5%, YTD +21.5%), meaningful margin expansion (Q2 gross margin 38.8%, +3.8 pts) and a sizable increase in pretax profit—supported by successful product innovation and e-commerce expansion. Offsetting risks include a notable rise in operating expenses (+$11.2M), potential input/component cost inflation, tax-rate variability, and macroeconomic/consumer uncertainty. On balance, the company’s improvements in top-line growth, margin recovery, profitability and a debt-free balance sheet outweigh the near-term cost and macro risks.Positive Updates
Top-Line Growth
Second-quarter revenue grew 15.5% year-over-year, with all business segments contributing. Year-to-date net sales increased 21.5% versus the prior fiscal six-month period.
Negative Updates
Operating Expense Increase
Operating expense rose $11.2 million year-over-year in the second quarter, driven primarily by sales-volume-related costs and increased variable compensation (management indicated ~1/3 volume-related and ~1/3 variable compensation impact).
Read all updates
Q2-2026 Updates
Positive
Negative
Top-Line Growth
Second-quarter revenue grew 15.5% year-over-year, with all business segments contributing. Year-to-date net sales increased 21.5% versus the prior fiscal six-month period.
Read all positive updates
Company Guidance
Management’s forward guidance was cautious but constructive: they highlighted continued focus on financial discipline and investments in innovation, digital/e‑commerce and operational efficiencies while warning of potential input-cost headwinds (notably electronic components). Key metrics cited on the call that underpin that guidance include Q2 revenue growth of 15.5% and fiscal year‑to‑date net sales up 21.5%, Q2 gross margin of 38.8% (up 3.8 points YoY) and YTD gross margin 37.9% (up 4.9 points), profit before tax of $10.2M in Q2 versus $4.2M a year ago, an end‑of‑Q2 inventory balance of $186.9M (about $6.8M higher YoY), a Q2 operating‑expense increase of ~$11.2M (roughly one‑third volume‑related and one‑third variable compensation), an expected full‑year tax expense of about $4–5M (variable by profit mix), a continuing cost‑savings program to offset pressures, a debt‑free balance sheet, and an ongoing shareholder dividend.Johnson Outdoors Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
78
Positive
Cash Flow
81
Very Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 651.83M | 592.41M | 592.85M | 663.84M | 743.36M | 751.65M |
| Gross Profit | 244.14M | 208.09M | 200.98M | 244.09M | 271.33M | 334.13M |
| EBITDA | 35.43M | 11.57M | -10.10M | 42.27M | 73.28M | 126.47M |
| Net Income | -15.20M | -34.29M | -26.53M | 19.53M | 44.49M | 83.38M |
Balance Sheet | ||||||
| Total Assets | 618.27M | 604.10M | 635.21M | 681.61M | 679.93M | 674.29M |
| Cash, Cash Equivalents and Short-Term Investments | 107.88M | 176.40M | 162.04M | 138.62M | 129.80M | 240.45M |
| Total Debt | 45.98M | 48.68M | 49.33M | 52.34M | 57.90M | 49.99M |
| Total Liabilities | 199.39M | 185.68M | 171.79M | 181.87M | 191.92M | 215.78M |
| Stockholders Equity | 418.88M | 418.42M | 463.42M | 499.74M | 488.01M | 458.50M |
Cash Flow | ||||||
| Free Cash Flow | 24.98M | 40.23M | 18.97M | 19.05M | -93.83M | 36.91M |
| Operating Cash Flow | 44.07M | 56.21M | 40.98M | 41.71M | -62.14M | 58.32M |
| Investing Cash Flow | -14.58M | -11.86M | 5.03M | -48.37M | -31.68M | -21.38M |
| Financing Cash Flow | -13.58M | -13.56M | -13.70M | -12.73M | -12.23M | -9.03M |
Johnson Outdoors Technical Analysis
Negative
44.71
Price Trends
47.92
Negative
47.12
Negative
43.54
Negative
Market Momentum
-2.19
Positive
35.37
Neutral
16.17
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JOUT, the sentiment is Negative. The current price of 44.71 is below the 20-day moving average (MA) of 49.15, below the 50-day MA of 47.92, and above the 200-day MA of 43.54, indicating a bearish trend. The MACD of -2.19 indicates Positive momentum. The RSI at 35.37 is Neutral, neither overbought nor oversold. The STOCH value of 16.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JOUT.
Johnson Outdoors Risk Analysis
Johnson Outdoors disclosed 26 risk factors in its most recent earnings report. Johnson Outdoors reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Johnson Outdoors Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $422.84M | 12.84 | -3.57% | 3.22% | 17.59% | 68.88% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | $5.00B | 17.18 | 20.87% | 1.15% | 6.34% | -21.30% | |
48 Neutral | $104.95M | -7.93 | -21.22% | 2.93% | -0.50% | 44.02% | |
| ― | $631.46M | -6.48 | 8.82% | ― | 204.16% | ― | |
47 Neutral | $109.71M | -6.98 | -5.76% | ― | -0.61% | -126.06% |
* Consumer Cyclical Sector Average
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Johnson Outdoors Corporate Events
Executive/Board Changes
Johnson Outdoors Announces Planned Retirement of Longtime CFO
Neutral
Mar 4, 2026
Johnson Outdoors Inc. announced that on March 4, 2026, longtime Vice President and Chief Financial Officer David W. Johnson informed the company of his intention to retire later this year. Johnson has held the CFO role and served as principal fina...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Johnson Outdoors Shareholders Approve Board, Auditor and Incentive Plans
Positive
Feb 27, 2026
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 appoi...
Dividends
Johnson Outdoors Declares Quarterly Dividend, Signals Ongoing Stability
Positive
Feb 27, 2026
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 shareholder...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.