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Jamieson Wellness Inc
(TSX:JWEL)
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Rating:66Neutral
Price Target:
C$49.00
▲(7.34% Upside)
Action:Reiterated
Date:08/09/26
Score is driven primarily by solid operating performance and improving margins, offset by weaker recent cash conversion/FCF trends and higher leverage. Technicals are supportive due to a strong uptrend, though elevated RSI suggests the move may be extended. Valuation is somewhat premium (P/E ~23.5) with only moderate support from the ~2.22% dividend yield.
Positive Factors
Steady multi-year revenue growth and improving margins
Consistent multi-year revenue growth with rising gross, operating and net margins indicates durable core profitability and pricing power in the VMS category. This sustained margin expansion supports reinvestment in brands, long-term product development and the ability to fund shareholder returns.
Negative Factors
Rising leverage vs prior years
A meaningful increase in debt-to-equity reduces financial flexibility and raises fixed obligations. Elevated leverage limits ability to pursue opportunistic M&A, raises refinancing and interest-rate sensitivity, and increases risk during demand slowdowns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady multi-year revenue growth and improving margins
Consistent multi-year revenue growth with rising gross, operating and net margins indicates durable core profitability and pricing power in the VMS category. This sustained margin expansion supports reinvestment in brands, long-term product development and the ability to fund shareholder returns.
Read all positive factors
Jamieson Wellness Inc (JWEL) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.89B
Dividend Yield2.07%
Average Volume (3M)316.18K
Price to Earnings (P/E)24.2
Beta (1Y)0.91
Revenue Growth14.96%
EPS Growth35.61%
CountryCA
Employees891
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)1.88
Shares Outstanding41,490,940
10 Day Avg. Volume309,510
30 Day Avg. Volume316,181
Financial Highlights & Ratios
PEG Ratio1.18
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$47.45Price Target Upside3.94% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)2.15
Revenue Forecast (FY)C$925.01M
Jamieson Wellness Inc Business Overview & Revenue Model
Company Description
Jamieson Wellness Inc. is a natural health products company involved in the development, manufacturing, marketing, and distribution of its offerings across Canada and internationally. The enterprise operates through two core segments. Its Jamieson...
How the Company Makes Money
Jamieson Wellness makes money primarily by selling branded wellness products, especially vitamins, minerals, and supplements, through a mix of domestic and international distribution channels. Its core revenue stream is product sales to retailers ...
Jamieson Wellness Inc Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Oct 29, 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
62
Positive
Cash Flow
50
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 880.58M | 822.06M | 733.78M | 676.17M | 547.37M | 451.03M |
| Gross Profit | 368.77M | 338.33M | 275.61M | 233.56M | 198.34M | 162.44M |
| EBITDA | 152.84M | 135.33M | 114.60M | 108.78M | 100.17M | 90.40M |
| Net Income | 78.57M | 62.44M | 51.91M | 47.88M | 52.81M | 52.08M |
Balance Sheet | ||||||
| Total Assets | 1.23B | 1.22B | 1.21B | 1.14B | 1.11B | 652.48M |
| Cash, Cash Equivalents and Short-Term Investments | 24.31M | 41.23M | 44.79M | 36.86M | 26.24M | 6.78M |
| Total Debt | 477.35M | 472.02M | 308.29M | 462.99M | 400.00M | 149.13M |
| Total Liabilities | 677.34M | 685.52M | 660.41M | 662.38M | 675.67M | 310.45M |
| Stockholders Equity | 509.52M | 485.42M | 505.18M | 438.93M | 431.59M | 342.02M |
Cash Flow | ||||||
| Free Cash Flow | 23.01M | 69.80M | 51.41M | 22.41M | 36.02M | 22.12M |
| Operating Cash Flow | 35.54M | 82.51M | 61.58M | 31.71M | 50.59M | 44.41M |
| Investing Cash Flow | -21.20M | -22.25M | -10.16M | -35.13M | -256.53M | -22.28M |
| Financing Cash Flow | -42.02M | -62.78M | -45.43M | 14.04M | 225.41M | -16.51M |
Jamieson Wellness Inc Technical Analysis
Positive
45.65
Price Trends
43.40
Positive
39.29
Positive
36.81
Positive
Market Momentum
0.64
Positive
67.79
Neutral
28.40
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 45.65 is above the 20-day moving average (MA) of 45.44, above the 50-day MA of 43.40, and above the 200-day MA of 36.81, indicating a bullish trend. The MACD of 0.64 indicates Positive momentum. The RSI at 67.79 is Neutral, neither overbought nor oversold. The STOCH value of 28.40 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 |
|---|---|---|---|---|---|---|---|
66 Neutral | C$1.89B | 24.20 | 15.93% | 2.07% | 14.96% | 35.61% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
49 Neutral | C$18.91M | -1.31 | 338.06% | ― | 556.85% | -11.49% | |
37 Underperform | C$22.07M | -15.49 | 30.14% | ― | 32.91% | 55.73% |
* Consumer Defensive Sector Average
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Jamieson Wellness Inc Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Jamieson Wellness Posts Strong Q2 and Agrees to Kirin Takeover
Positive
Aug 6, 2026
Jamieson Wellness reported a strong second quarter, with consolidated revenue rising 17.4% to $233.8 million and Jamieson Brands up 18.6%, driven by robust consumer demand and successful promotions across Canada, China, the U.S. and other internat...
Business Operations and StrategyM&A Transactions
Kirin to Acquire Jamieson Wellness in C$2.5 Billion All-Cash Deal
Positive
Aug 6, 2026
Jamieson Wellness Inc. has entered a definitive agreement to be acquired by Japan’s Kirin Holdings Company, Limited in an all-cash transaction valuing the Canadian vitamins maker at about C$2.5 billion on an enterprise basis. Kirin will pay ...
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.