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Jamieson Wellness Inc (TSE:JWEL)
TSX:JWEL
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Jamieson Wellness Inc (JWEL) AI Stock Analysis

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TSE:JWEL

Jamieson Wellness Inc

(TSX:JWEL)

Rating:77Outperform
Price Target:
C$43.00
▲(16.63% Upside)
Jamieson Wellness Inc. demonstrates strong financial performance and strategic growth, particularly in the Chinese market. While technical indicators suggest overbought conditions, the company's solid financial health and strategic initiatives support a positive outlook.
Positive Factors
Growth Opportunities
The U.S. and China markets present significant growth opportunities for Jamieson Wellness, supported by ongoing growth in Canada and International markets.
Revenue Targets
Jamieson Wellness is expected to reach its long-term revenue target of over $1 billion, driven mainly by the Jamieson Brands segment across all major geographies, supported by secular tailwinds.
Valuation
The valuation of Jamieson Wellness stock is compelling, trading at a lower multiple compared to the peer average and recent market takeovers.
Negative Factors
Revenue Performance
Revenue was slightly below forecast in Canada, but China was above forecast, showing strong growth.

Jamieson Wellness Inc (JWEL) vs. iShares MSCI Canada ETF (EWC)

Jamieson Wellness Inc Business Overview & Revenue Model

Company DescriptionJamieson 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. The Jamieson Brands segment offers health products for humans, including vitamins, herbals, and mineral nutritional supplements; and over-the-counter remedies under the Jamieson and Lorna Vanderhaeghe brands, as well as sports nutrition products under the Progressive, Precision, and Iron Vegan brands. The Strategic Partners segment provides manufacturing and product development services on a contract manufacturing basis to blue-chip consumer health companies and retailers. Jamieson Wellness Inc. sells its products to distributors, and retail and wholesale customers. The company was formerly known as Jamieson Intermediate Holdings Ltd. and changed its name to Jamieson Wellness Inc. in May 2017. Jamieson Wellness Inc. was founded in 1922 and is headquartered in Toronto, Canada.
How the Company Makes MoneyJamieson Wellness Inc makes money primarily through the sale of its vitamins, minerals, and supplements (VMS) products. Its revenue model is based on a combination of direct sales through retail partners and online platforms, as well as distribution agreements with key retailers and pharmacies. The company has a diversified portfolio of brands, including its flagship Jamieson brand, which contributes significantly to its revenue stream. Additionally, Jamieson Wellness engages in strategic partnerships and acquisitions to expand its product offerings and market reach. Factors such as product innovation, brand recognition, and a strong distribution network also play crucial roles in driving the company's earnings.

Jamieson Wellness Inc Earnings Call Summary

Earnings Call Date:Aug 07, 2025
(Q3-2024)
|
% Change Since: 5.43%|
Next Earnings Date:Oct 30, 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.
Q3-2024 Updates
Positive Updates
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.
Negative Updates
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 Financial Statement Overview

Summary
Jamieson Wellness Inc. exhibits strong financial performance with consistent revenue and profit growth, effective cost management, and solid cash flow generation. The balance sheet shows moderate leverage, but the overall financial health remains stable.
Income Statement
85
Very Positive
Jamieson Wellness Inc. demonstrates strong income statement performance with consistent revenue growth, evidenced by a TTM revenue increase. The gross profit margin has remained healthy, and net profit margins are stable, indicating effective cost management. The EBIT and EBITDA margins show solid operational efficiency, supporting profitability.
Balance Sheet
78
Positive
The company's balance sheet reflects moderate leverage with a reasonable debt-to-equity ratio, suggesting managed financial risk. The equity ratio indicates a solid proportion of assets funded by shareholders, enhancing financial stability. However, some caution is warranted due to the rise in total liabilities over the periods.
Cash Flow
82
Very Positive
Jamieson Wellness Inc. has shown robust cash flow performance with a significant increase in free cash flow, indicating strong cash generation capability. The operating cash flow to net income ratio is favorable, demonstrating efficient cash conversion. However, the company should monitor capital expenditures closely to sustain free cash flow growth.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue733.78M676.17M547.37M451.03M403.66M
Gross Profit275.61M233.56M198.34M162.44M144.76M
EBITDA114.60M108.78M100.17M90.40M75.30M
Net Income51.91M47.88M52.81M52.08M41.60M
Balance Sheet
Total Assets1.21B1.14B1.11B652.48M609.34M
Cash, Cash Equivalents and Short-Term Investments44.79M36.86M26.24M6.78M1.17M
Total Debt308.29M462.99M400.00M149.13M149.06M
Total Liabilities660.41M662.38M675.67M310.45M316.94M
Stockholders Equity505.18M438.93M431.59M342.02M292.40M
Cash Flow
Free Cash Flow51.41M22.41M36.02M22.12M27.43M
Operating Cash Flow61.58M31.71M50.59M44.41M40.60M
Investing Cash Flow-10.16M-35.13M-256.53M-22.28M-13.17M
Financing Cash Flow-45.43M14.04M225.41M-16.51M-26.46M

Jamieson Wellness Inc Technical Analysis

Technical Analysis Sentiment
Positive
Last Price36.87
Price Trends
50DMA
35.34
Positive
100DMA
33.48
Positive
200DMA
33.53
Positive
Market Momentum
MACD
0.22
Negative
RSI
67.14
Neutral
STOCH
89.18
Negative
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 36.87 is above the 20-day moving average (MA) of 34.69, above the 50-day MA of 35.34, and above the 200-day MA of 33.53, indicating a bullish trend. The MACD of 0.22 indicates Negative momentum. The RSI at 67.14 is Neutral, neither overbought nor oversold. The STOCH value of 89.18 is Negative, 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

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
77
Outperform
C$1.54B26.5312.75%2.27%11.87%56.93%
63
Neutral
$21.00B13.77-6.24%3.09%3.49%-6.25%
$20.56M-4.42%
$4.94M-351.09%
$6.44M
33
Underperform
C$1.40M-185.93%-82.60%
27
Underperform
C$4.54M-78.70%-96.63%32.78%
* Consumer Defensive Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:JWEL
Jamieson Wellness Inc
37.06
6.72
22.15%
DTEAF
DAVIDsTEA
0.77
0.66
600.00%
BABYF
Else Nutrition Holdings Inc
0.03
-0.05
-62.50%
NPRFF
Nepra Foods
0.05
-0.06
-54.55%
TSE:CULT
Cult Food Science Corp.
0.02
-0.10
-83.33%
TSE:PNGA
Pangea Natural Food, Inc.
0.30
0.03
11.11%

Jamieson Wellness Inc Corporate Events

DividendsBusiness Operations and StrategyFinancial Disclosures
Jamieson Wellness Inc. Reports Strong Q2 2025 Results with Significant Growth in China
Positive
Aug 7, 2025

Jamieson Wellness Inc. reported strong second quarter results for 2025, with a 13.8% increase in branded revenue, driven by successful marketing and promotional strategies across key markets. The company’s growth was highlighted by a 73% increase in its Chinese market due to the effective 6/18 program, alongside notable gains in Canada and the U.S. The results reflect Jamieson’s strategic execution and innovation in product offerings, which have bolstered its market position and operational performance, leading to increased dividends and a focus on global expansion.

The most recent analyst rating on (TSE:JWEL) stock is a Buy with a C$42.00 price target. To see the full list of analyst forecasts on Jamieson Wellness Inc stock, see the TSE:JWEL Stock Forecast page.

Financial Disclosures
Jamieson Wellness to Announce Q2 2025 Financial Results
Neutral
Jul 24, 2025

Jamieson Wellness Inc. announced it will release its second quarter 2025 financial results on August 7, 2025, followed by a conference call for investors. This announcement is significant as it provides stakeholders an opportunity to gain insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and investor relations.

The most recent analyst rating on (TSE:JWEL) stock is a Buy with a C$42.00 price target. To see the full list of analyst forecasts on Jamieson Wellness Inc stock, see the TSE:JWEL Stock Forecast page.

Shareholder Meetings
Jamieson Wellness Inc. Reports Successful Election of Directors at 2025 Shareholder Meeting
Positive
May 27, 2025

Jamieson Wellness Inc. announced the successful election of its nominee directors at the 2025 Annual Meeting of Shareholders, with all directors receiving overwhelming support. This development underscores the company’s stable governance and continued focus on expanding its market presence in the natural health industry.

The most recent analyst rating on (TSE:JWEL) stock is a Buy with a C$42.00 price target. To see the full list of analyst forecasts on Jamieson Wellness Inc stock, see the TSE:JWEL Stock Forecast page.

Private Placements and FinancingBusiness Operations and Strategy
Jamieson Wellness Redeems Series A Preference Shares, Strengthens China Market Position
Positive
May 23, 2025

Jamieson Wellness Inc. announced the redemption of its Series A Preference Shares held by DCP Capital Partners, reflecting a strategic financial move aligned with DCP’s investment cycle. This redemption underscores the successful partnership between Jamieson and DCP, which has significantly bolstered Jamieson’s presence in China’s VMS market, contributing to substantial growth and positioning the company for continued success in this critical market.

The most recent analyst rating on (TSE:JWEL) stock is a Buy with a C$42.00 price target. To see the full list of analyst forecasts on Jamieson Wellness Inc stock, see the TSE:JWEL Stock Forecast page.

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.Date of analysis: Aug 09, 2025