Jamieson Wellness Inc (TSE:JWEL)
TSX:JWEL
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Jamieson Wellness Inc
(TSX:JWEL)
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Rating:62Neutral
Price Target:
C$37.00
▲(7.75% Upside)
Action:Downgraded
Date:05/09/26
The score is anchored by solid underlying profitability but weakened by recent cash-flow deterioration and meaningful leverage. Positive, growth-oriented guidance from the latest earnings call helps offset these risks, while technicals are moderately constructive. Valuation remains the biggest constraint due to the high P/E despite a modest dividend yield.
Positive Factors
Branded growth & China execution
Sustained branded growth—driven by exceptional China execution—reflects durable brand equity and scalable marketing. Higher conversion metrics and marketplace traction support repeat purchases and multi-year revenue expansion, reducing reliance on promotional volume and enabling profitable global expansion.
Negative Factors
Elevated leverage
Debt comparable to equity elevates refinancing and interest-rate risk and reduces optionality for growth or distress. If cash flow weakens, leverage constrains M&A, buybacks and capital spending, forcing tougher allocation choices and magnifying downside in an adverse operating period.
Read all positive and negative factors
Positive Factors
Negative Factors
Branded growth & China execution
Sustained branded growth—driven by exceptional China execution—reflects durable brand equity and scalable marketing. Higher conversion metrics and marketplace traction support repeat purchases and multi-year revenue expansion, reducing reliance on promotional volume and enabling profitable global expansion.
Read all positive factors
Jamieson Wellness Inc (JWEL) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.44B
Dividend Yield2.67%
Average Volume (3M)59.01K
Price to Earnings (P/E)40.4
Beta (1Y)0.81
Revenue Growth12.52%
EPS Growth37.38%
CountryCA
Employees891
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)1.76
Shares Outstanding41,260,760
10 Day Avg. Volume47,826
30 Day Avg. Volume59,011
Financial Highlights & Ratios
PEG Ratio1.17
Price to Book (P/B)2.90
Price to Sales (P/S)1.71
P/FCF Ratio20.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$45.60Price Target Upside32.79% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)2.14
Revenue Forecast (FY)C$918.46M
Jamieson Wellness Inc Business Overview & Revenue Model
Company Description
Jamieson Wellness Inc., together with its subsidiaries, develops, manufactures, distributes, markets, and sells natural health products in Canada and internationally. The company operates in two segments, Jamieson Brands and Strategic Partners. Th...
How the Company Makes Money
Jamieson Wellness makes money primarily by selling consumer health and wellness products (mainly vitamins, minerals, and supplements) under its owned brands to customers through retail and other distribution channels. Revenue is generated from pro...
Jamieson Wellness Inc Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive outlook backed by strong top-line growth (branded and consolidated), margin expansion, robust China execution, improved adjusted profitability and shareholder returns (buybacks/dividends). Key near-term headwinds include a decline in strategic partner revenues, higher SG&A (including one-time due diligence costs), and a working-capital build tied to inventory and tariff mitigation. Management provided confident 2026 guidance with continued China and U.S. growth expectations and targets for higher adjusted EBITDA and EPS, suggesting momentum outweighs the manageable operational and investment-related pressures.Positive Updates
Strong Consolidated and Branded Revenue Growth
Full-year consolidated revenue grew ~12%, branded business nearly +16% (FY2025). Q4 consolidated revenue rose 13.4% to $277.7M. Jamieson Brands grew 17.1% in Q4 to $237.4M. Youtheory grew 20.2% in Q4. China was a major driver (FY growth >56%, Q4 +43.9%). International revenue up 24% for the year (Q4 +39.2%). Canada outpaced the market with ~6% full-year growth (Q4 +5.5%).
Negative Updates
Strategic Partners Revenue Decline
Strategic Partner revenues declined 4.4% in Q4 (down ~$1.9M) and gross profit in Strategic Partners decreased 2.4% in the quarter, driven by lower volumes and timing of customer onboarding related to trade/tariff uncertainties.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Consolidated and Branded Revenue Growth
Full-year consolidated revenue grew ~12%, branded business nearly +16% (FY2025). Q4 consolidated revenue rose 13.4% to $277.7M. Jamieson Brands grew 17.1% in Q4 to $237.4M. Youtheory grew 20.2% in Q4. China was a major driver (FY growth >56%, Q4 +43.9%). International revenue up 24% for the year (Q4 +39.2%). Canada outpaced the market with ~6% full-year growth (Q4 +5.5%).
Read all positive updates
Company Guidance
Management guided 2026 consolidated revenue of $895–$935 million (up ~9% to almost 14%), with Jamieson Brands revenue of $790–$820 million (≈9%–13% growth); by region they forecast China +20%–30%, U.S. +14%–19% (USD), Canada +4%–6%, International +10%–15% (USD), and Strategic Partner revenues returning to growth of +10%–20%. They expect adjusted EBITDA of $174–$181 million (up ~9%–13.4%) with adjusted EBITDA margins ~19.4%, adjusted diluted EPS of $2.08–$2.21 (up 12.5%–19.5%), and cash from operations before working capital of $120–$130 million (up 9%–19%); working capital is expected to increase $25–$35 million and capital expenditures to be approximately $20 million.Jamieson Wellness Inc Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
66
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 845.84M | 822.06M | 733.78M | 676.17M | 547.37M | 451.03M |
| Gross Profit | 352.20M | 338.33M | 275.61M | 233.56M | 198.34M | 162.44M |
| EBITDA | 143.97M | 133.42M | 114.60M | 108.78M | 100.17M | 90.40M |
| Net Income | 73.69M | 62.44M | 51.91M | 47.88M | 52.81M | 52.08M |
Balance Sheet | ||||||
| Total Assets | 1.20B | 1.22B | 1.21B | 1.14B | 1.11B | 652.48M |
| Cash, Cash Equivalents and Short-Term Investments | 39.86M | 41.23M | 44.79M | 36.86M | 26.24M | 6.78M |
| Total Debt | 475.87M | 472.02M | 308.29M | 462.99M | 400.00M | 149.13M |
| Total Liabilities | 662.01M | 685.52M | 660.41M | 662.38M | 675.67M | 310.45M |
| Stockholders Equity | 492.41M | 485.42M | 505.18M | 438.93M | 431.59M | 342.02M |
Cash Flow | ||||||
| Free Cash Flow | 31.79M | 69.80M | 51.41M | 22.41M | 36.02M | 22.12M |
| Operating Cash Flow | 45.13M | 82.51M | 61.58M | 31.71M | 50.59M | 44.41M |
| Investing Cash Flow | -30.70M | -22.25M | -10.16M | -35.13M | -256.53M | -22.28M |
| Financing Cash Flow | -15.31M | -62.78M | -45.43M | 14.04M | 225.41M | -16.51M |
Jamieson Wellness Inc Technical Analysis
Positive
34.34
Price Trends
34.17
Positive
34.93
Positive
34.87
Positive
Market Momentum
0.13
Negative
57.01
Neutral
63.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:JWEL, the sentiment is Positive. The current price of 34.34 is above the 20-day moving average (MA) of 34.15, above the 50-day MA of 34.17, and below the 200-day MA of 34.87, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 57.01 is Neutral, neither overbought nor oversold. The STOCH value of 63.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:JWEL.
Jamieson Wellness Inc Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | C$1.44B | 40.40 | 15.25% | 2.67% | 12.52% | 37.38% | |
57 Neutral | C$69.05M | -5.57 | 47.73% | ― | 75.19% | 44.09% | |
48 Neutral | C$25.51M | -1.45 | -1208.82% | ― | 337.52% | -8.78% | |
41 Neutral | C$1.44M | -1.09 | 5435.74% | ― | -31.80% | 76.06% |
* Consumer Defensive Sector Average
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Jamieson Wellness Inc Corporate Events
Business Operations and StrategyFinancial Disclosures
Jamieson Wellness Posts Strong 2025 as Branded Growth, China and Youtheory Drive Earnings
Positive
Feb 26, 2026
Jamieson Wellness reported a strong fiscal 2025, with branded revenue up nearly 16% and broad-based growth across Canada, China, Youtheory, and international markets. The company cited higher gross margins, double-digit adjusted EBITDA and cash fl...
Business Operations and StrategyFinancial Disclosures
Jamieson Wellness Sets Date for Q4 and Full-Year 2025 Results and Investor Call
Positive
Feb 12, 2026
Jamieson Wellness Inc., a Toronto-based producer of vitamins, minerals, supplements and sports nutrition products under brands such as Jamieson, youtheory, Progressive, Smart Solutions, Iron Vegan and Precision, sells its portfolio across more tha...
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.