Joint Corp (JYNT)
NASDAQ:JYNT
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Joint
(NASDAQ:JYNT)
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Rating:64Neutral
Price Target:
$9.50
▲(3.04% Upside)
Action:Reiterated
Date:05/22/26
The score is driven primarily by improving financial performance (return to profitability, strong gross margins, better TTM cash generation) and a constructive earnings outlook supported by reiterated 2026 guidance and the refranchising transition. These positives are tempered by very thin operating margins, historical earnings/cash-flow volatility, mixed technical momentum, and a valuation that is not notably cheap (P/E ~24 with no dividend yield).
Positive Factors
High gross margin and cash generation
A sustained ~78.5% gross margin reflects strong unit economics from a franchise-oriented service model, enabling high contribution per visit. Coupled with improved TTM free cash flow (~$2.7M), this supports durable cash generation to fund reinvestment, buybacks, and franchise growth even if operating leverage ramps slowly.
Negative Factors
Very thin operating profitability
With an EBIT margin near 0.2%, the business has minimal operating cushion to absorb revenue shortfalls or unexpected costs. Even modest declines in system-wide or comparable sales can quickly eliminate operating profits, increasing sensitivity to execution delays in refranchising, marketing effectiveness, or pricing rollouts.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin and cash generation
A sustained ~78.5% gross margin reflects strong unit economics from a franchise-oriented service model, enabling high contribution per visit. Coupled with improved TTM free cash flow (~$2.7M), this supports durable cash generation to fund reinvestment, buybacks, and franchise growth even if operating leverage ramps slowly.
Read all positive factors
Joint (JYNT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$131.43M
Dividend YieldN/A
Average Volume (3M)133.85K
Price to Earnings (P/E)24.2
Beta (1Y)1.04
Revenue Growth-35.82%
EPS GrowthN/A
CountryUS
Employees443
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)0.23
Shares Outstanding14,255,396
10 Day Avg. Volume93,155
30 Day Avg. Volume133,848
Financial Highlights & Ratios
PEG Ratio-0.31
Price to Book (P/B)8.77
Price to Sales (P/S)2.40
P/FCF Ratio394.27
Enterprise Value/Market Cap0.82
Enterprise Value/Revenue1.91
Enterprise Value/Gross Profit2.39
Enterprise Value/Ebitda42.73
Forecast
1Y Price Target
$10.00Price Target Upside8.46% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.28
Revenue Forecast (FY)$60.29M
Joint Business Overview & Revenue Model
Company Description
The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates in two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchising, and...
How the Company Makes Money
The Joint primarily makes money through a franchise-based model and, to a lesser extent, through revenue from company-owned or company-operated clinics. Key revenue streams include: (1) ongoing royalty fees paid by franchisees, generally tied to c...
Joint Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call highlights a clear operational and financial inflection driven by near-complete refranchising: revenue growth from continuing operations (+13%), substantial adjusted EBITDA improvement, a return to net income, and disciplined capital allocation (share repurchases and RD buybacks). Management acknowledges near-term headwinds with system-wide sales and comps down (~-4.9% and -4.2% respectively) and some transitional G&A and cash reductions, but provides concrete actions (pricing rollout, marketing, SEO/AI gains, CareCredit, B2B initiatives) and reiterated full-year guidance with a compelling pro-forma margin profile. Overall, the positives from the transformation, profitability gains, and strategic initiatives outweigh the current softness in comps and cash timing risks, supporting an upbeat outlook as refranchising closes and H2 initiatives ramp.Positive Updates
Revenue Growth from Continuing Operations
Revenue from continuing operations increased 13% year-over-year to $14.8 million in Q1 2026, reflecting early benefits from transitioning clinics to continuing operations.
Negative Updates
System-Wide Sales and Comp Sales Declines
System-wide sales were $126 million in Q1, down 4.9% year-over-year; comparable (comp) sales were negative 4.2% in Q1 and are expected to be slightly negative in Q2 before improving in H2.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth from Continuing Operations
Revenue from continuing operations increased 13% year-over-year to $14.8 million in Q1 2026, reflecting early benefits from transitioning clinics to continuing operations.
Read all positive updates
Company Guidance
The company reiterated full‑year 2026 guidance calling for system‑wide sales of $519 million to $552 million, comp sales of -3% to +3% (with slightly negative comps in Q2 followed by positive comps in Q3 and Q4, and Q4 > Q3), consolidated adjusted EBITDA of $12.5 million to $13.5 million, and 30–35 new franchise clinic openings (with net clinic count expected to be lower than 2025 due to closures). Post‑refranchising model assumptions for 2026 include gross margin of 83%–85% (vs. 90% in 2025), G&A of 40%–42% of revenues (vs. 64% in 2025), capex ≈3% of revenues, free cash flow conversion of 60%–70% (FCF/adjusted EBITDA), implying an adjusted EBITDA margin of ~19%–21% and net income margin of ~13%–15%.Joint Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 56.64M | 54.90M | 52.16M | 46.98M | 101.25M | 80.01M |
| Gross Profit | 45.27M | 43.67M | 40.65M | 36.50M | 92.08M | 72.35M |
| EBITDA | 2.53M | 808.24K | 2.90M | 8.88M | 7.89M | 10.07M |
| Net Income | 3.24M | 2.91M | -5.80M | -9.75M | 626.71K | 7.57M |
Balance Sheet | ||||||
| Total Assets | 57.92M | 60.97M | 83.15M | 87.21M | 93.49M | 87.06M |
| Cash, Cash Equivalents and Short-Term Investments | 21.43M | 23.60M | 25.05M | 18.15M | 9.75M | 19.53M |
| Total Debt | 2.04M | 2.01M | 795.03K | 2.86M | 26.06M | 23.62M |
| Total Liabilities | 42.43M | 45.89M | 62.48M | 62.44M | 60.90M | 56.75M |
| Stockholders Equity | 15.47M | 15.05M | 20.65M | 24.75M | 32.56M | 30.28M |
Cash Flow | ||||||
| Free Cash Flow | 2.66M | 334.72K | 8.23M | 9.68M | 2.31M | 6.85M |
| Operating Cash Flow | 4.06M | 1.84M | 9.42M | 14.68M | 8.21M | 13.84M |
| Investing Cash Flow | 6.33M | 6.27M | -631.55K | -6.19M | -17.90M | -12.75M |
| Financing Cash Flow | -11.87M | -9.81M | -2.00M | 174.12K | 328.61K | -2.00M |
Joint Technical Analysis
Positive
9.22
Price Trends
8.73
Positive
8.98
Positive
9.08
Positive
Market Momentum
0.07
Negative
64.92
Neutral
88.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JYNT, the sentiment is Positive. The current price of 9.22 is above the 20-day moving average (MA) of 8.74, above the 50-day MA of 8.73, and above the 200-day MA of 9.08, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 64.92 is Neutral, neither overbought nor oversold. The STOCH value of 88.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JYNT.
Joint Risk Analysis
Joint disclosed 40 risk factors in its most recent earnings report. Joint 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
Joint Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.97B | 17.30 | 11.68% | 1.80% | 11.40% | 13.96% | |
68 Neutral | $1.91B | 20.74 | 3.88% | ― | 56.69% | -15.92% | |
64 Neutral | $131.43M | 24.15 | 16.94% | ― | -35.82% | ― | |
57 Neutral | $945.24M | -65.63 | 0.24% | 2.25% | 13.73% | -77.14% | |
54 Neutral | $458.92M | -313.53 | 326.77% | ― | 35.37% | 46.10% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
JYNT
Joint
9.30
-0.78
-7.74%
NHC
National Healthcare
192.00
90.07
88.37%
USPH
US Physical Therapy
64.17
-9.39
-12.77%
ASTH
Astrana Health
38.52
13.91
56.52%
TOI
Oncology Institute
4.61
1.49
47.76%
Joint Corporate Events
Executive/Board ChangesShareholder Meetings
Joint Shareholders Back Board, Pay Practices and Auditor
Positive
May 21, 2026
At its annual meeting of stockholders held on May 20, 2026, Joint’s shareholders elected seven directors to the board, with all nominees receiving sufficient support to serve until the 2027 annual meeting or until successors are chosen. In a...
Business Operations and StrategyStock BuybackFinancial DisclosuresPrivate Placements and Financing
Joint Corp Amends Credit Facility, Enhances Capital Flexibility
Positive
May 7, 2026
On May 1, 2026, The Joint Corp. amended its credit agreement with JPMorgan Chase, securing a waiver for a prior covenant violation, resetting its fixed charge coverage terms to permit stock repurchases and extending the maturity of its revolving c...
Business Operations and StrategyM&A Transactions
Joint Accelerates Franchise-Focused Strategy in Southern California
Positive
Apr 24, 2026
On April 20, 2026, Joint agreed to sell the assets of, and grant franchise rights to, 45 company-owned or managed clinics in Southern California to Elite Chiro Group for an aggregate purchase price of $2.3 million, subject to adjustments. The deal...
Business Operations and StrategyStock BuybackFinancial Disclosures
Joint Corp Reports Q4 Growth Amid Transformation Strategy
Positive
Mar 12, 2026
On March 12, 2026, The Joint Corp. reported that fourth quarter 2025 revenue rose 3.1% year on year to $15.2 million, while system-wide sales fell 3.9% and same-store sales declined 3.8%, amid macro headwinds. Quarterly net income improved sharply...
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.