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Joint
(NASDAQ:JYNT)
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Rating:60Neutral
Price Target:
$8.00
▼(-5.10% Downside)
Action:Reiterated
Date:10/01/26
The score is supported primarily by improved financial health (return to profitability and low leverage) and constructive earnings-call messaging around a capital-light transition with stronger cash generation and reiterated guidance. Offsetting these positives, technicals are notably weak (price below key moving averages with negative MACD and very oversold momentum), and valuation is only middling with a ~27.9 P/E and no dividend yield data.
Positive Factors
Capital-light franchising
Refranchising should reduce the capital and operating burden of company-owned clinics while shifting the earnings mix toward recurring royalties and fees. With only three company-owned or managed clinics expected after transfers, the model could support better scalability and cash conversion over the next several quarters.
Negative Factors
Weak same-store demand
Declining system-wide sales and negative comparable sales point to continuing pressure on patient demand and franchisee revenue productivity. Because royalties depend on clinic sales, persistent weakness could constrain near-term revenue growth, delay operating leverage, and make the expected recovery dependent on successful retention and marketing efforts.
Read all positive and negative factors
Positive Factors
Negative Factors
Capital-light franchising
Refranchising should reduce the capital and operating burden of company-owned clinics while shifting the earnings mix toward recurring royalties and fees. With only three company-owned or managed clinics expected after transfers, the model could support better scalability and cash conversion over the next several quarters.
Read all positive factors
Joint (JYNT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$99.57M
Dividend YieldN/A
Average Volume (3M)90.93K
Price to Earnings (P/E)26.5
Beta (1Y)1.09
Revenue Growth-17.84%
EPS GrowthN/A
CountryUS
Employees330
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)0.27
Shares Outstanding14,143,154
10 Day Avg. Volume88,802
30 Day Avg. Volume90,934
Financial Highlights & Ratios
PEG Ratio-0.31
Price to Book (P/B)8.77
Price to Sales (P/S)2.40
P/FCF Ratio394.27
Enterprise Value/Market Cap1.05
Enterprise Value/Revenue1.78
Enterprise Value/Gross Profit2.19
Enterprise Value/Ebitda27.07
Forecast
1Y Price Target
$10.50Price Target Upside24.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.28
Revenue Forecast (FY)$60.29M
Joint Business Overview & Revenue Model
Company Description
The Joint Corp. specializes in the establishment, proprietorship, operation, and overall administration of chiropractic treatment centers. Its business operations are structured into two main divisions: corporate-owned clinics and franchised facil...
How the Company Makes Money
The Joint makes money primarily through two channels: (1) revenue from company-owned or company-managed clinics and (2) revenue from franchising.
1) Company-owned/managed clinic revenue (patient service revenue): The Joint sells chiropractic serv...
Joint Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call emphasized material progress toward a capital-light franchisor model with strong improvements in core profitability and cash generation (14% revenue growth, $1.4M adjusted EBITDA gain, 152% increase in operating cash flow), near-term operational wins (best retention in 5+ years, pricing uptake, digital visibility) and disciplined capital allocation (share repurchases, RD buybacks). Offsetting risks include continuing negative comp sales (-2.8%), a 3.7% decline in system-wide sales, elevated marketing spend (+40%), reduced near-term clinic opening cadence, and timing/one-time costs associated with refranchising. Overall, the positives — particularly the sizable cash flow and margin improvements tied to refranchising and retention gains — outweigh the remaining execution and timing headwinds.Positive Updates
Revenue Growth
Revenue grew 14% year-over-year to $15.2 million in Q2 2026, reflecting the shift toward a franchise royalty and fee-based model.
Negative Updates
System-Wide Sales Decline
System-wide sales in Q2 were $128 million, down 3.7% year-over-year, indicating continued pressure at the clinic-network level.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth
Revenue grew 14% year-over-year to $15.2 million in Q2 2026, reflecting the shift toward a franchise royalty and fee-based model.
Read all positive updates
Company Guidance
The company reiterated its full-year 2026 guidance, reiterating system-wide sales of $519 million to $552 million, comp sales of -3% to +3% (with comps expected to improve in H2 and Q4 > Q3), and consolidated adjusted EBITDA of $12.5 million to $13.5 million; it now expects 22–26 new franchise clinic openings in 2026 (down from prior 30–35) and a year-end clinic count lower than 2025 as portfolio optimization continues. Once refranchising is complete the company expects starting-point operating metrics of gross margin ~83%–85% of revenues, G&A ~40%–42% of revenues, CapEx ≈3% of revenues, and free-cash-flow conversion (FCF/adjusted EBITDA) of 60%–70%, implying an initial adjusted EBITDA margin of ~19%–21% and net income margin of ~13%–15%. At quarter end unrestricted cash was $22.2 million, the $20 million credit line remained fully undrawn (available through Aug 2029), and capital allocation in Q2 included repurchasing ~82,000 shares for $677,000 (avg $8.23) with $3.8 million remaining under the $12 million buyback authorization.Joint Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 58.55M | 54.90M | 52.16M | 46.98M | 101.25M | 80.01M |
| Gross Profit | 47.47M | 43.67M | 40.65M | 36.50M | 92.08M | 72.35M |
| EBITDA | 3.85M | 1.48M | 2.90M | 8.88M | 7.89M | 10.07M |
| Net Income | 3.80M | 2.91M | -5.80M | -9.75M | 626.71K | 7.57M |
Balance Sheet | ||||||
| Total Assets | 51.63M | 60.97M | 83.15M | 87.21M | 93.49M | 87.06M |
| Cash, Cash Equivalents and Short-Term Investments | 22.16M | 23.60M | 25.05M | 18.15M | 9.75M | 19.53M |
| Total Debt | 2.04M | 2.01M | 795.03K | 2.86M | 26.06M | 23.62M |
| Total Liabilities | 35.75M | 45.89M | 62.48M | 62.44M | 60.90M | 56.75M |
| Stockholders Equity | 15.85M | 15.05M | 20.65M | 24.75M | 32.56M | 30.28M |
Cash Flow | ||||||
| Free Cash Flow | 4.23M | 334.72K | 8.23M | 9.68M | 2.31M | 6.85M |
| Operating Cash Flow | 5.39M | 1.84M | 9.42M | 14.68M | 8.21M | 13.84M |
| Investing Cash Flow | 2.19K | 6.27M | -631.55K | -6.19M | -17.90M | -12.75M |
| Financing Cash Flow | -12.56M | -9.81M | -2.00M | 174.12K | 328.61K | -2.00M |
Joint Technical Analysis
Negative
8.43
Price Trends
8.16
Negative
8.50
Negative
8.74
Negative
Market Momentum
-0.34
Positive
25.92
Positive
9.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JYNT, the sentiment is Negative. The current price of 8.43 is above the 20-day moving average (MA) of 7.88, above the 50-day MA of 8.16, and below the 200-day MA of 8.74, indicating a bearish trend. The MACD of -0.34 indicates Positive momentum. The RSI at 25.92 is Positive, neither overbought nor oversold. The STOCH value of 9.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JYNT.
Joint Risk Analysis
Joint disclosed 40 risk factors in its most recent earnings report. Joint 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
Joint Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $12.17B | 19.83 | 25.01% | 0.63% | 9.47% | 19.85% | |
73 Outperform | $4.74B | 23.99 | 47.30% | 0.67% | 14.02% | 31.92% | |
65 Neutral | $1.26B | 498.06 | -1.27% | 2.16% | 11.32% | -92.59% | |
60 Neutral | $99.57M | 26.54 | 22.00% | ― | -17.84% | ― | |
52 Neutral | $1.82B | -20.13 | -5.21% | ― | 3.99% | 51.58% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $33.48M | -0.17 | -115.58% | ― | -32.40% | -969.05% |
* Healthcare Sector Average
JYNT
Joint
6.94
-1.35
-16.28%
EHC
Encompass Health
124.42
4.00
3.32%
USPH
US Physical Therapy
85.93
-0.52
-0.60%
SGRY
Surgery Partners
14.24
-5.55
-28.04%
DCGO
DocGo
0.33
-0.94
-73.78%
CON
Concentra Group Holdings Parent, Inc.
37.54
17.57
88.00%
Joint Corporate Events
Business Operations and StrategyM&A Transactions
The Joint Reacquires Texas Regional Franchise Rights
Positive
Oct 1, 2026
On October 1, 2026, The Joint entered an Asset Purchase Agreement to reacquire regional development rights in Texas from a group of long-standing regional developers, while mutually terminating those regional developer agreements. The Texas region...
Business Operations and StrategyStock BuybackFinancial Disclosures
Joint Corp boosts Q2 revenue amid refranchising transition
Positive
Aug 6, 2026
On August 6, 2026, The Joint Corp. reported second quarter 2026 results showing revenue up 14% year on year to $15.2 million and consolidated net income rising to $653,000, while net loss from continuing operations narrowed to $251,000. Cash flow ...
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.