The Joint Corp.

NasdaqCM:JYNT Rapport sur les actions

Capitalisation boursière : US$120.8m

Joint Résultats passés

Passé contrôle des critères 3/6

Les bénéfices de Joint ont diminué à un taux annuel moyen de -57.6%, tandis que le secteur Healthcare a vu ses bénéfices augmenter de en à 4% par an. Les revenus ont augmenté de en baisse à un taux moyen de 13.9% par an. Le rendement des capitaux propres de Joint est 8.7% et ses marges nettes sont de 2.4%.

Informations clés

-57.63%

Taux de croissance des bénéfices

-58.26%

Taux de croissance du BPA

Healthcare Croissance de l'industrie8.50%
Taux de croissance des recettes-13.92%
Rendement des fonds propres8.65%
Marge nette2.37%
Dernière mise à jour des bénéfices31 Mar 2026

Mises à jour récentes des performances passées

Recent updates

Article d’analyse • Feb 11

Estimating The Fair Value Of The Joint Corp. (NASDAQ:JYNT)

Key Insights Using the 2 Stage Free Cash Flow to Equity, Joint fair value estimate is US$10.07 Current share price of...
Seeking Alpha • Apr 29

The Joint Corp. Has Shown Good Momentum For Future Returns (Rating Upgrade)

Summary JYNT's Q4 results showed strong growth, with revenue from continuing operations up 14% YOY and system-wide sales growth at 9%, indicating business resilience. New CEO's vision and initiatives, including dynamic pricing and a mobile app, are promising, despite initial skepticism about his lack of industry experience. The refranchising strategy will transition JYNT to a royalty-based model by 2025, potentially boosting profitability with fewer assets and lower SG&A costs. Despite macroeconomic risks and potential litigation, JYNT's strong brand equity and growth runway make it a buy, with significant future cash flow potential. Read the full article on Seeking Alpha
Article d’analyse • Mar 20

There's Reason For Concern Over The Joint Corp.'s (NASDAQ:JYNT) Price

When you see that almost half of the companies in the Healthcare industry in the United States have price-to-sales...
Article d’analyse • Jan 22

The Joint Corp.'s (NASDAQ:JYNT) Intrinsic Value Is Potentially 59% Above Its Share Price

Key Insights Using the 2 Stage Free Cash Flow to Equity, Joint fair value estimate is US$18.10 Joint's US$11.40 share...
Article d’analyse • Sep 14

The Joint Corp.'s (NASDAQ:JYNT) Price Is Out Of Tune With Revenues

There wouldn't be many who think The Joint Corp.'s ( NASDAQ:JYNT ) price-to-sales (or "P/S") ratio of 1.5x is worth a...
Article d’analyse • Aug 05

The Joint Corp. (NASDAQ:JYNT) Shares Could Be 22% Above Their Intrinsic Value Estimate

Key Insights Using the 2 Stage Free Cash Flow to Equity, Joint fair value estimate is US$10.40 Joint's US$12.73 share...
Article d’analyse • Jul 17

Investors Could Be Concerned With Joint's (NASDAQ:JYNT) Returns On Capital

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Amongst...
Article d’analyse • May 04

Optimistic Investors Push The Joint Corp. (NASDAQ:JYNT) Shares Up 26% But Growth Is Lacking

The Joint Corp. ( NASDAQ:JYNT ) shares have continued their recent momentum with a 26% gain in the last month alone...
Article d’analyse • Mar 10

The Joint Corp.'s (NASDAQ:JYNT) Share Price Not Quite Adding Up

With a median price-to-sales (or "P/S") ratio of close to 1x in the Healthcare industry in the United States, you could...
Article d’analyse • Feb 12

Returns Are Gaining Momentum At Joint (NASDAQ:JYNT)

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two...
Article d’analyse • Jun 17

Joint (NASDAQ:JYNT) Shareholders Will Want The ROCE Trajectory To Continue

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll...
Article d’analyse • Jan 04

Joint's (NASDAQ:JYNT) Returns On Capital Are Heading Higher

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Article d’analyse • Oct 27

Does Joint (NASDAQ:JYNT) Have A Healthy Balance Sheet?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Seeking Alpha • Oct 17

The Joint Corp. Can Relieve You From High Inflation Pain

Summary The Joint Corp. is the largest provider of chiropractic care in the U.S., and its stock provides great upside potentials from secular healthcare trends. The company is a value compounder with significant growth opportunities and strong economic moats. Steep price decline from unsustainably high price a year ago as well as recent bear market made The Joint Corp.'s stock price depressed, which gives a good entry point. The Joint Corp. is well positioned to withstand the worrying macroeconomic factors including recent rising interest rates, energy crisis, and geopolitical risks. 1. Introduction Modern people suffer from chronic muscle pain due to the habit of sitting for a long time at home or work. They use a variety of methods including drug treatments and manual therapy to relieve pain and stay healthy. The Joint Corp. (JYNT) provides the solution for chiropractic care. Licensed practitioners conduct adjustments and offer an excellent alternative to pain relief measures for patients who are concerned about the side effects of drug treatment. Furthermore, the company is creating great value for consumers, business partners, and the company itself by improving inefficiencies and inconveniences that exist for a long time in the chiropractic industry through its unique and innovative business models. 2. Investment thesis First of all, The company is in a large and growing industry, and its current market share is still small, leaving room for further growth in the future. Second, it possesses several characteristics of a quality business, including the first mover advantages, an ability to sustain high returns on invested capital, and conservative balance sheets. Lastly, the current share price has significant upside potential in consideration of the company's growth potential and quality. 2-1) Growth The chiropractic industry is big and growing. Chiropractic care helps individuals with various pains, particularly back pain. According to a company filing which refers to the bureau of labor statistics and IBIS world chiropractors market research, people in the U.S. spends about $90 billion on back pain and about $18 billion on chiropractic services. The company's market share (The Joint Q2 22 Investor Presentation) Nevertheless, the company's share is only a fraction of the overall market. In other words, the company has ample room for further growth in this market in the future. As shown in the picture above, the market is highly fragmented. 96% of the market is composed of sole practitioners, and only 4% represent multi-unit operators like JYNT. Comparing multi-unit operators, the company has a market share of half, indicating it has competitive advantages. 2-2) Competitive advantages The company is innovative in the way it practices its business in a highly inefficient industry. It differentiates itself from its competitors by using a private pay, non-insurance, cash-based model. Innovative value proposition (The Joint Q2 22 Investor Presentation) The company delivers convenient, appointment-free chiropractic care in retail locations to its customers or patients. Also it provides great values to its employees and business partners like chiropractic practitioners, including higher salaries and no hassles with administration, which eventually gives more time to improve their core skills. Peer group of the company (The Joint Q2 22 Investor Presentation) The company increases its value based on its competitive advantages as well. First of all, it maximizes the first mover advantages. As seen above, the company has the largest share among multi-unit operators and is widening the gap. Although Airrosti, HealthSource Chiropractic, and ChiroOne Wellness Centers are comparable in scale, they are declining in contrast to the company's increasing number of clinics since 2017. Also, they mostly depend on insurance-based models. Competitors that adopt the same cash-only model as JYNT are 11 companies but cannot match the company in scale. Eight of them just operate fewer than 12 clinics. Second, the company directly operates the clinic or recruits franchisees. Franchising gives it a great competitive advantage. It reduces capital expenditures because franchisees finance a part of the investment. It also generates high returns for the company by receiving fees such as royalties based on sales. Clinic economics (The Joint Q2 22 Investor Presentation) It is good for franchisees to participate in the franchise of the Joint. Its clinics show great unit economics because the initial investment is small. All they need is a decent-sized retail space and a minimum of two people to run a clinic including WC (Wealth Coordinator) and DC (Chiropractic Doctor). There is no inventory risk like in other retailers. Therefore, The period to reach breakeven point is quite short and it takes about eight months. Business segments ( The Joint Q2 22 Investor Presentation) The company's current portfolio consists of 85% franchised and 15% company-owned clinics. It needs to rapidly increase clinics to gain wide brand awareness across the country. However, the proportion of franchising will increase later when it enters a certain maturity stage. I expect it to take three years, or when it operates more than 1,000 clinics. Then, profitable business segments will more contribute to the company's overall profitability, which will greatly increase the company's value. Credit Metrics (Created by the author using company reports) Lastly, the company maintains a conservative and strong balance sheets. It can withstand the current economic uncertainty and unfavorable macroeconomic factors including rising interest rates, high energy prices, intensifying geopolitical risks. The company has a cash balance greater than the total debt amount, protecting itself from refinancing risks and using cash for lucrative reinvestment opportunities. Also its services are by nature tech-proof unlike other retail companies. 3. Valuation The company's core value driver is the franchise clinic segment. Franchise clinics generate strong and stable free cash flows because they have better profitability and higher capital turnover than company-owned clinics. My valuation assumptions are as follows: the target number of clinics open for the next 10 years is 2,000. I assume the proportion of franchise clinics to increase from 85% to 95%. The Joint's system-wide sales per store is expected to grow 3% per annum, and franchise fee margin royalties are set at 12%. Tax rates are 27.0% and the cost of capital is about 9.0%. Using these assumptions, I estimate the company's future free cash flows as shown below. DCF (Created by the author using company reports) My valuation model implies the company's terminal EV/EBITDA multiple at about 15 times. The calculated value per share is about $25 after considering a 5.0% probability of failure. It indicates the current price is undervalued and has about 40% upside potential. Value per share (Created by the author) I examined the distribution of intrinsic value per share by conducting a sensitivity analysis of main value drivers which include target clinics open, store sales growth rates, and the proportion of franchise clinics. I found that falling short of the target number of stores had a significant impact on the value. If the number of stores falls below 1,350 over the next 10 years, the current stock price has no upside potential. Conversely, sales growth per store does not seem to have a greater impact than other factors. Finally, if the franchise store ratio remains the same or below, the stock price is likely to fall more. It is because the company has to grow by doing a low-margin capital-heavy company-owned clinics, not by profitable franchise clinics. Sensitivity analysis of the main value drivers (Created by the author) 4. Risks The high inflation environment had an unfavorable effect on the company's profitability. Labor cost is one of the main costs required to run a clinic. Recently the company raised the salaries of its clinic employees. As a result, the period to reach Breakeven point increased from six months to eight months.

Ventilation des recettes et des dépenses

Comment Joint gagne et dépense de l'argent. Sur la base des derniers bénéfices déclarés, sur une base LTM.

Historique des gains et des recettes

NasdaqCM:JYNT Recettes, dépenses et bénéfices (USD Millions )
DateRecettesLes revenusDépenses G+ADépenses de R&D
31 Mar 26571430
31 Dec 25550430
30 Sep 25540410
30 Jun 2553-1410
31 Mar 2553-2420
31 Dec 2452-2410
30 Sep 24-3-15-80
30 Jun 2414-1570
31 Mar 2431-13200
31 Dec 2347-11350
30 Sep 231152950
30 Jun 231124920
31 Mar 231073900
31 Dec 221011840
30 Sep 22950820
30 Jun 22892760
31 Mar 22855690
31 Dec 21808620
30 Sep 217618550
30 Jun 217017500
31 Mar 216315460
31 Dec 205913440
30 Sep 20564430
30 Jun 20533410
31 Mar 20513400
31 Dec 19483370
30 Sep 19452350
30 Jun 19412330
31 Mar 19391310
31 Dec 18370300
30 Sep 1834-1280
30 Jun 1831-1260
31 Mar 1828-2240
31 Dec 1725-3230
30 Sep 1724-9230
30 Jun 1723-11250
31 Mar 1722-13260
31 Dec 1621-15260
30 Sep 1619-13260
30 Jun 1617-12240
31 Mar 1616-10210
31 Dec 1514-9190
30 Sep 1512-8150
30 Jun 1510-7120

Des revenus de qualité: JYNT a des bénéfices de haute qualité.

Augmentation de la marge bénéficiaire: JYNT est devenu rentable dans le passé.

Analyse des flux de trésorerie disponibles par rapport aux bénéfices

Analyse de la croissance passée des bénéfices

Tendance des revenus: JYNT est devenue rentable au cours des 5 dernières années, augmentant ses bénéfices de -57.6% par an.

Accélération de la croissance: JYNT est devenu rentable au cours de l'année dernière, ce qui rend le taux de croissance des bénéfices difficile à comparer à sa moyenne sur 5 ans.

Bénéfices par rapport au secteur d'activité: JYNT est devenue rentable au cours de l'année dernière, ce qui rend difficile la comparaison de sa croissance des bénéfices de l'année écoulée avec celle du secteur Healthcare ( 17% ).

Rendement des fonds propres

ROE élevé: Le retour sur capitaux propres de JYNT ( 8.7% ) est considéré comme faible.

Rendement des actifs

Rendement des capitaux employés

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Analyse de l'entreprise et données financières

DonnéesDernière mise à jour (heure UTC)
Analyse de l'entreprise2026/05/22 11:55
Cours de l'action en fin de journée2026/05/22 00:00
Les revenus2026/03/31
Revenus annuels2025/12/31

Sources de données

Les données utilisées dans notre analyse de l'entreprise proviennent de S&P Global Market Intelligence LLC. Les données suivantes sont utilisées dans notre modèle d'analyse pour générer ce rapport. Les données sont normalisées, ce qui peut entraîner un délai avant que la source ne soit disponible.

PaquetDonnéesCadre temporelExemple de source américaine *
Finances de l'entreprise10 ans
  • Compte de résultat
  • Tableau des flux de trésorerie
  • Bilan
Estimations consensuelles des analystes+3 ans
  • Prévisions financières
  • Objectifs de prix des analystes
Prix du marché30 ans
  • Cours des actions
  • Dividendes, scissions et actions
Propriété10 ans
  • Actionnaires principaux
  • Délits d'initiés
Gestion10 ans
  • L'équipe dirigeante
  • Conseil d'administration
Principaux développements10 ans
  • Annonces de l'entreprise

* Exemple pour les titres américains ; pour les titres non américains, des formulaires réglementaires et des sources équivalentes sont utilisés.

Sauf indication contraire, toutes les données financières sont basées sur une période annuelle mais mises à jour trimestriellement. C'est ce qu'on appelle les données des douze derniers mois (TTM) ou des douze derniers mois (LTM). En savoir plus.

Modèle d'analyse et flocon de neige

Les détails du modèle d’analyse utilisé pour générer ce rapport sont disponibles sur notre page Github; nous proposons également des guides expliquant comment utiliser nos rapports et des tutoriels sur Youtube.

Découvrez l'équipe de classe mondiale qui a conçu et construit le modèle d'analyse Simply Wall St.

Indicateurs de l'industrie et du secteur

Nos indicateurs de secteur et de section sont calculés toutes les 6 heures par Simply Wall St. Les détails de notre processus sont disponibles sur Github.

Sources des analystes

The Joint Corp. est couverte par 5 analystes. 4 de ces analystes ont soumis les estimations de revenus ou de bénéfices utilisées comme données d'entrée dans notre rapport. Les soumissions des analystes sont mises à jour tout au long de la journée.

AnalysteInstitution
Jeffrey Van SinderenB. Riley Securities, Inc.
Jeremy HamblinCraig-Hallum Capital Group LLC
Linda Bolton-WeiserD.A. Davidson & Co.