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Johnson Outdoors
(NASDAQ:JOUT)
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Rating:55Neutral
Price Target:
$45.00
▼(-1.51% Downside)
Action:Reiterated
Date:09/26/26
The score is anchored by improving but still inconsistent fundamentals: strong revenue rebound and a very solid, low-leverage balance sheet are offset by continued TTM net losses and sharply weaker free cash flow. Technicals are a key drag given broad weakness versus moving averages and negative momentum indicators. Valuation is constrained by the negative P/E, partially cushioned by a ~3% dividend yield, while the earnings call adds moderate support but highlights that part of the margin improvement was non-recurring and cost/inventory pressures remain.
Positive Factors
Revenue Growth
The strong revenue rebound and continued year-to-date growth indicate improving demand and market execution across the portfolio. Sustained sales expansion can support better fixed-cost absorption, fund product investment, and strengthen the company’s ability to rebuild consistent profitability over coming quarters.
Negative Factors
Unproven Profitability
Despite improved revenue and gross margin, the company remains slightly unprofitable on a trailing basis and generates only a thin operating margin. This leaves limited room to absorb higher costs or weaker demand, making earnings recovery less dependable until profitability becomes consistently positive.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The strong revenue rebound and continued year-to-date growth indicate improving demand and market execution across the portfolio. Sustained sales expansion can support better fixed-cost absorption, fund product investment, and strengthen the company’s ability to rebuild consistent profitability over coming quarters.
Read all positive factors
Johnson Outdoors (JOUT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$458.77M
Dividend Yield2.98%
Average Volume (3M)43.45K
Price to Earnings (P/E)―
Beta (1Y)0.61
Revenue Growth17.49%
EPS Growth82.16%
CountryUS
Employees1,300
SectorGeneral
Sector StrengthN/A
IndustryLeisure
Share Statistics
EPS (TTM)-0.78
Shares Outstanding9,273,554
10 Day Avg. Volume42,955
30 Day Avg. Volume43,448
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.58
Revenue Forecast (FY)$686.03M
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 primarily makes money by selling outdoor recreation products across its operating segments, with revenue recognized from the sale of finished goods to retail and distribution customers and through direct-to-consumer transactions. ...
Johnson Outdoors Earnings Call Summary
Earnings Call Date:Aug 07, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Dec 11, 2026
Earnings Call Sentiment Neutral
The call presented solid top-line growth (Q3 sales +5%, YTD +15%) and meaningful profit and margin improvement (Q3 gross margin +7.7 pts, YTD gross margin +5.8 pts; YTD profit before tax turnaround of ~$36.5M) driven by strong brand demand, cost savings, and a one-time tariff refund (~$15M). Offsetting these positives are rising raw material/component costs, an 11.5% increase in operating expenses (half from variable compensation), a notable inventory build (+$24.5M), and a weak camping & watercraft segment. Given the material contribution from tariff refunds and ongoing cost pressures, the positives and negatives are roughly balanced.Positive Updates
Quarterly Sales Growth
Total company sales increased 5% versus the prior year quarter, driven by strength in Fishing (Minn Kota) and Diving (SCUBAPRO) businesses.
Negative Updates
Tariff Refunds Drove Much of Margin Improvement
Approximately $15 million of tariff refunds materially contributed to the Q3 gross margin improvement; management does not expect additional meaningful tariff refunds, indicating some margin improvement may be one-time.
Read all updates
Q3-2026 Updates
Positive
Negative
Quarterly Sales Growth
Total company sales increased 5% versus the prior year quarter, driven by strength in Fishing (Minn Kota) and Diving (SCUBAPRO) businesses.
Read all positive updates
Company Guidance
Management's guidance and commentary focused on recent performance and near‑term expectations: Q3 total company sales were up 5%, operating income was $18.3M (≈$11M higher YoY) helped by ~ $15M of tariff refunds, driving a Q3 gross margin of 45.3% (up 7.7 points; excluding refunds modestly below prior year), while year‑to‑date sales were +15% with a YTD gross margin of 40.6% (up 5.8 points); Q3 profit before tax was $23.3M (vs $10.5M prior) and YTD profit before tax was $32.2M (vs a $4.3M loss prior yr, ≈+$36.5M), inventory finished Q3 at $188.3M (≈+$24.5M YoY), operating expenses rose ~$7M (up ~11.5% YoY, ~50% driven by variable compensation), management does not expect additional meaningful tariff refunds, cautioned on higher raw material costs offset by pricing and cost‑savings, expects full‑year tax expense of ~$5–6M, remains debt‑free, and continues to pay a dividend (Board approved in May).Johnson Outdoors Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
74
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 660.91M | 592.41M | 592.85M | 663.84M | 743.36M | 751.65M |
| Gross Profit | 262.15M | 208.09M | 200.98M | 244.09M | 271.33M | 334.13M |
| EBITDA | 57.92M | 11.57M | -10.10M | 42.27M | 73.28M | 126.47M |
| Net Income | -7.99M | -34.29M | -26.53M | 19.53M | 44.49M | 83.38M |
Balance Sheet | ||||||
| Total Assets | 648.37M | 604.10M | 635.21M | 681.61M | 679.93M | 674.29M |
| Cash, Cash Equivalents and Short-Term Investments | 175.25M | 176.40M | 162.04M | 138.62M | 129.80M | 240.45M |
| Total Debt | 51.63M | 48.68M | 49.33M | 52.34M | 57.90M | 49.99M |
| Total Liabilities | 217.74M | 185.68M | 171.79M | 181.87M | 191.92M | 215.78M |
| Stockholders Equity | 430.63M | 418.42M | 463.42M | 499.74M | 488.01M | 458.50M |
Cash Flow | ||||||
| Free Cash Flow | 29.89M | 40.23M | 18.97M | 19.05M | -93.83M | 36.91M |
| Operating Cash Flow | 50.39M | 56.21M | 40.98M | 41.71M | -62.14M | 58.32M |
| Investing Cash Flow | -18.18M | -11.86M | 5.03M | -48.37M | -31.68M | -21.38M |
| Financing Cash Flow | -13.74M | -13.56M | -13.70M | -12.73M | -12.23M | -9.03M |
Johnson Outdoors Technical Analysis
Negative
45.69
Price Trends
46.07
Negative
45.28
Negative
46.03
Negative
Market Momentum
-0.55
Negative
40.14
Neutral
36.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JOUT, the sentiment is Negative. The current price of 45.69 is above the 20-day moving average (MA) of 44.59, below the 50-day MA of 46.07, and below the 200-day MA of 46.03, indicating a bearish trend. The MACD of -0.55 indicates Negative momentum. The RSI at 40.14 is Neutral, neither overbought nor oversold. The STOCH value of 36.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $4.81B | 22.83 | 25.98% | 1.21% | 8.77% | -2.02% | |
63 Neutral | $213.30M | -54.90 | -2.35% | ― | -5.84% | 13.11% | |
56 Neutral | $131.33M | -4.20 | -15.46% | 2.92% | -0.10% | 61.92% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | $458.77M | -56.79 | -1.90% | 2.98% | 17.49% | 82.16% | |
25 Underperform | $4.22M | >-0.01 | -10.93% | ― | 357.23% | 95.88% |
* General Sector Average
JOUT
Johnson Outdoors
44.24
4.36
10.93%
CLAR
Clarus
3.43
0.06
1.84%
GOLF
Acushnet Holdings
82.42
3.38
4.27%
YYAI
Connexa Sports Technologies
0.92
-76,799.08
-100.00%
AOUT
American Outdoor Brands
16.90
8.39
98.59%
Johnson Outdoors Corporate Events
Dividends
Johnson Outdoors Declares Quarterly Cash Dividend to Shareholders
Positive
Sep 25, 2026
On September 25, 2026, Johnson Outdoors 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 October 23, 2026 to shareholders of re...
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.