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Jamieson Wellness Inc (TSE:JWEL)
TSX:JWEL
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Jamieson Wellness Inc
(TSX:JWEL)
73Outperform
Positive Factors
EBITDA Growth
2025E guidance reflects a return to LDD adj. EBITDA growth, indicating confidence in future financial performance.
Financial Performance
The valuation of Jamieson Wellness stock is compelling, trading at a lower multiple compared to the peer average and recent market takeovers.
Growth Opportunities
The U.S. and China markets present significant growth opportunities for Jamieson Wellness, supported by ongoing growth in Canada and International markets.
Negative Factors
Revenue Forecast
Revenue was slightly below forecast in Canada, but China was above forecast, showing strong growth.
Jamieson Wellness Inc (JWEL) vs. S&P 500 (SPY)
Market Cap
C$1.30B
Dividend Yield2.63%
Average Volume (3M)117.53K
Price to Earnings (P/E)25.0
Beta (1Y)0.88
Revenue Growth8.52%
EPS Growth9.11%
CountryCA
Employees891
SectorHealthcare
Sector Strength74
IndustryPackaged Foods
Share Statistics
EPS (TTM)1.24
Shares Outstanding41,708,805
10 Day Avg. Volume80,339
30 Day Avg. Volume117,535
Financial Highlights & Ratios
PEG Ratio2.74
Price to Book (P/B)N/A
Price to Sales (P/S)1.67
Price to Cash Flow (P/CF)8.10
P/FCF Ratio7.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$41.60Price Target Upside33.50% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
Jamieson Wellness Inc Business Overview & Revenue Model
Company DescriptionJamieson Wellness Inc. (JWEL) is a leading health and wellness company based in Canada, specializing in the development, manufacturing, and distribution of premium natural health products. The company's core products include vitamins, minerals, and supplements, which are marketed under various brand names, including its flagship brand, Jamieson. With a commitment to quality and innovation, Jamieson Wellness serves a diverse customer base across domestic and international markets.
How the Company Makes MoneyJamieson Wellness Inc. generates revenue primarily through the sale of its vitamins, minerals, and supplements. The company operates through multiple channels, including direct sales to consumers via retail outlets, online platforms, and distributors. Key revenue streams include domestic sales within Canada and international sales, benefiting from a strong brand presence in foreign markets. Partnerships with major retail chains and healthcare providers contribute significantly to its earnings, as does its focus on expanding its product lines to meet consumer demand for health and wellness solutions.
Jamieson Wellness Inc Financial Statement Overview
Summary
Jamieson Wellness Inc. demonstrates strong financial health with consistent revenue and profit growth, efficient cost management, and a robust equity position. The company has significantly improved its cash flow generation capabilities, ensuring solid liquidity. Despite historically higher debt levels, the improvement in the debt-to-equity ratio and equity growth indicates a positive financial trajectory.Income Statement
Jamieson Wellness Inc. has demonstrated strong revenue growth from $403.66 million in 2020 to $733.78 million in 2024, with a consistent increase in gross profit margins and net income over the years. The gross profit margin improved to 37.56% in 2024, reflecting efficient cost management. The EBIT and EBITDA margins are strong, at 14.48% and 15.62% respectively, indicating healthy operational efficiency. Revenue growth remains robust, supporting a positive outlook.85
Very Positive
Balance Sheet
The company maintains a balanced financial structure with a debt-to-equity ratio showing improvement, dropping from 0.56 in 2023 to 0.61 in 2024 due to reduced total debt. Stockholders' equity has grown steadily, enhancing financial stability. The equity ratio is satisfactory at 41.80%, suggesting a strong equity base against total assets. However, the relatively high debt levels in previous years should be monitored.78
Positive
Cash Flow
Jamieson Wellness Inc. has shown a significant increase in operating cash flow from $40.60 million in 2020 to $61.58 million in 2024. Free cash flow has also increased significantly, indicating improved cash generation efficiency. The operating cash flow to net income ratio is healthy, suggesting efficient conversion of profits into cash. The free cash flow to net income ratio supports a strong liquidity position, despite fluctuations in capital expenditures.82
Very Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 733.78M | 676.17M | 547.37M | 451.03M | 403.66M | Gross Profit |
| 275.61M | 233.56M | 198.34M | 162.44M | 144.76M | EBIT |
| 106.28M | 95.25M | 83.19M | 76.03M | 63.57M | EBITDA |
| 114.60M | 108.78M | 100.17M | 90.40M | 75.30M | Net Income Common Stockholders |
| 51.91M | 47.88M | 52.81M | 52.08M | 41.60M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 44.79M | 36.86M | 26.24M | 6.78M | 1.17M | Total Assets |
| 1.21B | 1.14B | 1.11B | 652.48M | 609.34M | Total Debt |
| 308.29M | 462.99M | 400.00M | 149.13M | 149.06M | Net Debt |
| 263.50M | 426.12M | 373.76M | 142.35M | 147.89M | Total Liabilities |
| 660.41M | 662.38M | 675.67M | 310.45M | 316.94M | Stockholders Equity |
| 505.18M | 438.93M | 431.59M | 342.02M | 292.40M |
| Cash Flow | Free Cash Flow | |||
| 51.41M | 22.41M | 36.02M | 22.12M | 27.43M | Operating Cash Flow |
| 61.58M | 31.71M | 50.59M | 44.41M | 40.60M | Investing Cash Flow |
| -10.16M | -35.13M | -256.53M | -22.28M | -13.17M | Financing Cash Flow |
| -45.43M | 14.04M | 225.41M | -16.51M | -26.46M |
Jamieson Wellness Inc Technical Analysis
Negative
31.16
Price Trends
30.48
Negative
33.11
Negative
32.64
Negative
Market Momentum
-0.17
Negative
55.44
Neutral
84.14
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:JWEL, the sentiment is Negative. The current price of 31.16 is above the 20-day moving average (MA) of 29.80, above the 50-day MA of 30.48, and below the 200-day MA of 32.64, indicating a neutral trend. The MACD of -0.17 indicates Negative momentum. The RSI at 55.44 is Neutral, neither overbought nor oversold. The STOCH value of 84.14 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:JWEL.
Jamieson Wellness Inc Peers Comparison
Overall Rating
UnderperformOutperform
Sector (48)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | C$21.32B | 22.52 | 13.78% | 1.42% | 1.59% | -1.98% | |
78 Outperform | $59.06B | 27.83 | 19.33% | 1.07% | 2.49% | 7.16% | |
78 Outperform | C$10.78B | 16.38 | 12.64% | 1.70% | 1.05% | -6.94% | |
77 Outperform | C$65.75B | 18.46 | 18.66% | 1.07% | 11.62% | -8.08% | |
73 Outperform | C$1.30B | 24.96 | 11.00% | 2.63% | 8.52% | 9.11% | |
67 Neutral | $33.38B | 36.57 | 2.72% | 4.49% | -9.23% | -45.29% | |
48 Neutral | $6.36B | 1.28 | -45.04% | 2.64% | 19.24% | 1.69% |
* Healthcare Sector Average
Performance Comparison
TSE:JWEL
Jamieson Wellness Inc
30.01
4.09
15.78%
TSE:NTR
Nutrien
67.57
-3.86
-5.40%
TSE:L
Loblaw Companies
198.49
51.89
35.39%
TSE:MRU
Metro Inc.
96.75
27.22
39.15%
TSE:EMP.A
Empire Co Cl A NV
45.91
14.67
46.96%
TSE:ATD
Alimentation Couche-Tard Inc
68.78
-6.24
-8.32%
Jamieson Wellness Inc Earnings Call Summary
Earnings Call Date: Feb 27, 2025 | % Change Since: 0.19% | Next Earnings Date: May 1, 2025
Earnings Call Sentiment Positive
The earnings call presented a strong performance for Jamieson Wellness with significant revenue growth, especially in China and international markets. Despite some challenges in the Strategic Partners segment and increased expenses, the overall trajectory remains positive with strong cash flow and dividend payouts.Highlights
Record Revenue Growth
Consolidated revenue reached $176 million, a 16% increase compared to the prior year, with branded revenue growth of 20%.
Strong Performance in China
China revenue increased almost 82% in Q3 and 89% year-to-date, driven by marketing and promotional investments.
International Expansion Success
International revenue increased by 25% in Q3 and 17% year-to-date with growth in every operating region.
Improved Gross Margins
Consolidated gross profit margin increased by 460 basis points to 38.4%, driven by higher branded sales.
Positive Cash Flow and Dividend Announcement
Generated cash from operations before working capital of $18.5 million, with a declared dividend of $0.21 per common share.
Lowlights
Decline in Strategic Partners Segment
Revenue in the Strategic Partners segment was down by 5% due to the closeout of a previous customer contract.
Increased SG&A Expenses
SG&A expenses grew by 36.4% to $42 million, primarily due to marketing investments and IT system implementation costs.
Lower Margins in Strategic Partners
Gross profit margin in Strategic Partners decreased by 460 basis points to 10.9% due to lower volumes and customer mix.
Company Guidance
During the Jamieson Wellness earnings call for Q3 2024, the company provided detailed guidance for the fiscal year. Consolidated revenue for the year is expected to range between $725 million and $755 million, reflecting an increase of 7.2% to 11.7%. The Jamieson Brands segment is projected to see revenue between $620 million and $645 million, marking a growth of 12.5% to 17%. Meanwhile, Strategic Partner revenue is anticipated to decrease by 12% to 16%, with expectations set between $105 million and $110 million. The company also narrowed its guidance for consolidated adjusted EBITDA to between $139 million and $143 million, representing up to 3.6% growth. Adjusted diluted earnings per share are projected to reach $1.57 to $1.63, indicating growth of up to 5.2% compared to the previous year.Jamieson Wellness Inc Corporate Events
Business Operations and Strategy
Jamieson Wellness to Unveil Strategic Vision at Investor Day
Neutral
Mar 26, 2025
Jamieson Wellness Inc. is hosting an Investor Day in Toronto on March 27, 2025, where senior management will present the company’s strategic vision and growth outlook to institutional investors and analysts. The event, which includes a live webcast and a Q&A session, aims to highlight Jamieson’s competitive market positioning and future plans, potentially impacting its operations and industry standing.
Business Operations and StrategyFinancial Disclosures
Jamieson Wellness Inc. Reports Robust 2024 Financial Results
Positive
Feb 27, 2025
Jamieson Wellness Inc. reported a strong financial performance for the fourth quarter and full year 2024, with a 14% growth in branded revenue and market share gains across key markets. The company’s strategic investments, particularly in China, led to significant revenue growth, while its expansion in the U.S. and international markets further strengthened its position. Looking ahead to 2025, Jamieson Wellness aims to continue leveraging global health trends and strategic marketing to drive revenue growth and profitability.
Financial Disclosures
Jamieson Wellness to Release 2024 Financial Results
Neutral
Feb 13, 2025
Jamieson Wellness Inc. announced the release of its fourth quarter and full year 2024 financial results scheduled for February 27, 2025, followed by a conference call for investors. This announcement is significant as it provides stakeholders with insights into the company’s financial performance and potential future directions, which is crucial for investors and market analysts tracking the company’s progress in the competitive natural health industry.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.