Johnson Outdoors Inc. (JOUT)
NASDAQ:JOUT
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Johnson Outdoors
(NASDAQ:JOUT)
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Rating:65Neutral
Price Target:
$50.00
▲(11.83% Upside)
Action:Reiterated
Date:06/23/26
The score is driven primarily by strong cash flow generation and a low-leverage balance sheet, reinforced by an earnings call showing sharp YoY improvements in growth, margins, and pretax profit. The main constraints are still-negative TTM earnings (hurting valuation via a negative P/E) and mixed technical momentum, with cost inflation, rising operating expenses, and inventory build as key near-term risks.
Positive Factors
Strong free cash flow
Sustained, sizable free cash flow provides durable funding for product R&D, inventory build for seasonality, dividends and opportunistic capital allocation. A large step-up in FCF vs FY2025 reduces refinancing risk and improves resilience through outdoor demand cycles.
Negative Factors
TTM negative earnings & volatile margins
Despite recent margin improvement and EBITDA recovery, trailing net losses and volatile historical profitability indicate margins are not yet stabilized. Persistent negative net income can limit retained earnings accumulation and constrain long-term return on invested capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
Sustained, sizable free cash flow provides durable funding for product R&D, inventory build for seasonality, dividends and opportunistic capital allocation. A large step-up in FCF vs FY2025 reduces refinancing risk and improves resilience through outdoor demand cycles.
Read all positive factors
Johnson Outdoors (JOUT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$484.77M
Dividend Yield3.22%
Average Volume (3M)54.34K
Price to Earnings (P/E)―
Beta (1Y)0.56
Revenue Growth17.59%
EPS Growth68.88%
CountryUS
Employees1,325
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)-1.48
Shares Outstanding9,268,482
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 Cap0.86
Enterprise Value/Revenue0.64
Enterprise Value/Gross Profit1.70
Enterprise Value/Ebitda11.74
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. engages in the manufacturing and marketing of seasonal, outdoor recreation products. It operates through the following segments: Fishing, Camping, Watercraft Recreation, Diving, and Other. The Fishing segment includes the br...
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 | 35.34M | 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
Positive
44.71
Price Trends
47.12
Negative
47.35
Negative
44.40
Positive
Market Momentum
0.05
Negative
53.90
Neutral
47.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JOUT, the sentiment is Positive. The current price of 44.71 is below the 20-day moving average (MA) of 45.79, below the 50-day MA of 47.12, and above the 200-day MA of 44.40, indicating a neutral trend. The MACD of 0.05 indicates Negative momentum. The RSI at 53.90 is Neutral, neither overbought nor oversold. The STOCH value of 47.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
65 Neutral | $484.77M | -31.60 | -3.57% | 3.22% | 17.59% | 68.88% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $145.08M | -15.89 | -5.76% | ― | -14.30% | -10520.59% | |
60 Neutral | $6.91B | 41.43 | 20.87% | 1.15% | 6.34% | -21.30% | |
51 Neutral | $121.09M | -2.71 | -21.22% | 2.93% | -0.50% | 44.02% | |
| ― | $7.28M | 0.66 | -0.56% | ― | 204.16% | ― |
* Consumer Cyclical Sector Average
JOUT
Johnson Outdoors
46.77
17.45
59.50%
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AOUT
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Johnson Outdoors Corporate Events
Executive/Board Changes
Johnson Outdoors Appoints New Chief Financial Officer Rahman
Positive
Jun 22, 2026
On June 22, 2026, Johnson Outdoors Inc. announced the appointment of Asad Rahman as vice president and chief financial officer, effective June 30, 2026, when he will also become the company’s principal accounting and financial officer. The m...
Business Operations and StrategyDividends
Johnson Outdoors Declares Quarterly Dividend, Signals Ongoing Confidence
Positive
May 29, 2026
On May 29, 2026, Johnson Outdoors Inc. announced that its Board of Directors approved a quarterly cash dividend of $0.33 per Class A share and $0.30 per Class B share. The dividend is scheduled to be paid on July 30, 2026, to shareholders of recor...
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.