NasdaqGS:JOUT

Stock Analysis Report

Executive Summary

Johnson Outdoors Inc. designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide.

Rewards

Trading at 25.7% below its fair value

Earnings grew by 26.2% over the past year

Risk Analysis

No risks detected for JOUT from our risk checks.


Snowflake Analysis

Flawless balance sheet and undervalued.


Similar Companies

Share Price & News

How has Johnson Outdoors's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: JOUT has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.8%

JOUT

2.1%

US Leisure

-1.3%

US Market


1 Year Return

19.1%

JOUT

15.7%

US Leisure

22.0%

US Market

Return vs Industry: JOUT exceeded the US Leisure industry which returned 16.9% over the past year.

Return vs Market: JOUT underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

JOUTIndustryMarket
7 Day-2.8%2.1%-1.3%
30 Day0.2%4.4%1.8%
90 Day27.3%12.5%9.3%
1 Year20.2%19.1%17.7%15.7%24.6%22.0%
3 Year129.5%124.1%5.4%0.09%49.2%39.6%
5 Year166.3%153.9%11.2%0.3%77.9%58.3%

Price Volatility Vs. Market

How volatile is Johnson Outdoors's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Johnson Outdoors undervalued compared to its fair value and its price relative to the market?

27.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: JOUT ($78.61) is trading below our estimate of fair value ($105.77)

Significantly Below Fair Value: JOUT is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: JOUT is good value based on its PE Ratio (15.3x) compared to the Leisure industry average (21.4x).

PE vs Market: JOUT is good value based on its PE Ratio (15.3x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: JOUT is poor value based on its PEG Ratio (11.5x)


Price to Book Ratio

PB vs Industry: JOUT is good value based on its PB Ratio (2.4x) compared to the US Leisure industry average (2.6x).


Next Steps

Future Growth

How is Johnson Outdoors forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

0.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: JOUT's forecast earnings growth (1.3% per year) is below the savings rate (1.7%).

Earnings vs Market: JOUT's earnings (1.3% per year) are forecast to grow slower than the US market (14.3% per year).

High Growth Earnings: JOUT's earnings are forecast to grow, but not significantly.

Revenue vs Market: JOUT's revenue (2% per year) is forecast to grow slower than the US market (7.5% per year).

High Growth Revenue: JOUT's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: JOUT's Return on Equity is forecast to be low in 3 years time (12.8%).


Next Steps

Past Performance

How has Johnson Outdoors performed over the past 5 years?

36.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: JOUT has high quality earnings.

Growing Profit Margin: JOUT's current net profit margins (9.1%) are higher than last year (7.5%).


Past Earnings Growth Analysis

Earnings Trend: JOUT's earnings have grown significantly by 36.4% per year over the past 5 years.

Accelerating Growth: JOUT's earnings growth over the past year (26.2%) is below its 5-year average (36.4% per year).

Earnings vs Industry: JOUT earnings growth over the past year (26.2%) exceeded the Leisure industry 7.4%.


Return on Equity

High ROE: JOUT's Return on Equity (15.8%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Johnson Outdoors's financial position?


Financial Position Analysis

Short Term Liabilities: JOUT's short term assets ($322.5M) exceed its short term liabilities ($87.9M).

Long Term Liabilities: JOUT's short term assets ($322.5M) exceed its long term liabilities ($24.0M).


Debt to Equity History and Analysis

Debt Level: JOUT is debt free.

Reducing Debt: JOUT has no debt compared to 5 years ago when its debt to equity ratio was 3.9%.

Debt Coverage: JOUT has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: JOUT has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: JOUT has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if JOUT's debt is covered by short term assets.


Next Steps

Dividend

What is Johnson Outdoors's current dividend yield, its reliability and sustainability?

0.89%

Current Dividend Yield


Dividend Yield vs Market

company0.9%marketbottom25%1.4%markettop25%3.7%industryaverage2.2%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: JOUT's dividend (0.87%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.4%).

High Dividend: JOUT's dividend (0.87%) is low compared to the top 25% of dividend payers in the US market (3.66%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, JOUT has been paying a dividend for less than 10 years.

Growing Dividend: JOUT's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (11.5%), JOUT's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Johnson Outdoors's salary, the management and board of directors tenure and is there insider trading?

13.2yrs

Average management tenure


CEO

Helen Johnson-Leipold (63yo)

20.8yrs

Tenure

US$2,589,519

Compensation

Ms. Helen P. Johnson-Leipold serves as the Chairman and Chief Executive Officer of Johnson Outdoors Gear LLC. Ms. Johnson-Leipold has been the Chairman of the Board of Johnson Outdoors Inc. since 1994 and  ...


CEO Compensation Analysis

Compensation vs Market: Helen's total compensation ($USD2.66M) is about average for companies of similar size in the US market ($USD2.53M).

Compensation vs Earnings: Helen's compensation has been consistent with company performance over the past year.


Management Age and Tenure

13.2yrs

Average Tenure

Experienced Management: JOUT's management team is seasoned and experienced (13.2 years average tenure).


Board Age and Tenure

14.0yrs

Average Tenure

63yo

Average Age

Experienced Board: JOUT's board of directors are seasoned and experienced ( 14 years average tenure).


Insider Trading

Insider Buying: JOUT insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$79,72811 Dec 19
John Fahey
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,048
Max PriceUS$76.08

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Helen Johnson-Leipold (63yo)

    Chairman & CEO

    • Tenure: 20.8yrs
    • Compensation: US$2.59m
  • David Johnson (55yo)

    CFO, VP & Treasurer

    • Tenure: 14.2yrs
    • Compensation: US$1.04m
  • John Moon

    Chief Information Officer & VP

    • Tenure: 13.2yrs
  • Sara Vidian

    Vice President of Human Resources

    • Patricia Penman

      Vice President of Global Marketing Services & Communication

      • Julie Andersen

        Global Marketing Director

        • Tenure: 5.4yrs
      • Karen James

        Vice President of Global Operations

        • Khalaf Khalaf

          Senior Managing Director of Legal Affairs & Secretary

          • Tenure: 2.9yrs

        Board Members

        • John Fahey (67yo)

          Independent Director

          • Tenure: 19yrs
          • Compensation: US$139.52k
        • Bill Perez (71yo)

          Independent Director

          • Tenure: 1.1yrs
          • Compensation: US$112.37k
        • Kathy Bell (61yo)

          Independent Director

          • Tenure: 5.3yrs
          • Compensation: US$127.65k
        • Terry London (69yo)

          Independent Director

          • Tenure: 21yrs
          • Compensation: US$151.65k
        • Helen Johnson-Leipold (63yo)

          Chairman & CEO

          • Tenure: 20.8yrs
          • Compensation: US$2.59m
        • Tom Pyle (77yo)

          Vice Chairman & Lead Outside Director

          • Tenure: 22.3yrs
          • Compensation: US$188.52k
        • Ed Lang (56yo)

          Independent Director

          • Tenure: 14yrs
          • Compensation: US$137.02k
        • Casey Sheahan (63yo)

          Independent Director

          • Tenure: 5.3yrs
          • Compensation: US$135.52k
        • Ed Stevens (50yo)

          Independent Director

          • Tenure: 3.2yrs
          • Compensation: US$131.02k

        Company Information

        Johnson Outdoors Inc.'s company bio, employee growth, exchange listings and data sources


        Key Information

        • Name: Johnson Outdoors Inc.
        • Ticker: JOUT
        • Exchange: NasdaqGS
        • Founded: 1970
        • Industry: Leisure Products
        • Sector: Consumer Durables
        • Market Cap: US$770.152m
        • Shares outstanding: 10.00m
        • Website: https://www.johnsonoutdoors.com

        Number of Employees


        Location

        • Johnson Outdoors Inc.
        • 555 Main Street
        • Racine
        • Wisconsin
        • 53403
        • United States

        Listings

        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
        JOUTNasdaqGS (Nasdaq Global Select)YesClass A SharesUSUSDOct 1987

        Biography

        Johnson Outdoors Inc. designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. The company’s Fishing segment offers electric motors for trolling or primary propulsion, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing. This segment sells its products under the Minn Kota, Humminbird, and Cannon brands through outdoor specialty and Internet retailers, retail store chains, marine products distributors, original equipment manufacturers, and distributors. Its Camping segment offers consumer, commercial, and military tents and accessories; sleeping bags; camping furniture and stoves; other recreational camping products; and portable outdoor cooking systems, as well as acts as a subcontract manufacturer for other providers of military tents. This segment sells its products under the Eureka! and Jetboil brands through independent sales representatives and Internet retailers. The company’s Watercraft Recreation segment provides kayaks, canoes, and paddles through independent specialty and outdoor retailers under the Ocean Kayaks, Old Town, and Carlisle brands. Its Diving segment manufactures and markets underwater diving and snorkeling equipment, including regulators, buoyancy compensators, dive computers and gauges, wetsuits, masks, fins, snorkels, and accessories under the SCUBAPRO brand name. This segment also provides regular maintenance, product repair, diving education, and travel program services; and sells diving gear to dive training centers, resorts, public safety units, and armed forces. It sells its products through specialty dive stores and diving magazines, as well as through Websites. Johnson Outdoors Inc. was founded in 1970 and is headquartered in Racine, Wisconsin. 


        Company Analysis and Financial Data Status

        All financial data provided by Standard & Poor's Capital IQ.
        DataLast Updated (UTC time)
        Company Analysis2020/01/24 23:40
        End of Day Share Price2020/01/24 00:00
        Earnings2019/09/27
        Annual Earnings2019/09/27


        Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.