Johnson Outdoors Inc. (JOUT) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+3.7%

$49.62

vs $47.83 price

Levered DCF

$131.75

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.83

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-12.47×	-14.02×	28.34×	11.56×	13.1×	15.47×	11.26×	22.46×
P/B	1.02×	0.8×	1.1×	1.05×	2.38×	2.26×	1.78×	3.27×
P/S	0.72×	0.63×	0.83×	0.69×	1.45×	1.44×	1.03×	1.68×
EV / EBITDA	26×	-27.37×	11.62×	6.03×	7.14×	7.71×	5.04×	9.73×
Gross margin	35.1%	33.9%	36.8%	36.5%	44.5%	44.6%	44.4%	44.4%
Operating margin	-2.7%	-7.3%	1.8%	8.9%	14.8%	12.0%	11.3%	11.6%
Net margin	-5.8%	-4.5%	2.9%	6.0%	11.1%	9.3%	9.1%	7.5%
Current ratio	3.91×	4.74×	4.41×	4.19×	3.57×	3.68×	3.67×	3.08×
Debt / equity	0.12×	0.11×	0.1×	0.12×	0.11×	0.11×	0×	0×
Interest coverage	-72.28×	-286.33×	77.24×	433.4×	767.47×	496.99×	370.78×	310.45×
Dividend yield	3.2%	3.6%	2.3%	2.3%	0.8%	0.8%	1.0%	0.5%
Payout ratio	-39.4%	-50.6%	64.3%	27.1%	10.1%	12.3%	10.8%	10.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-8.2%	-5.7%	3.9%	9.1%	18.2%	14.6%	15.8%	14.6%
Return on invested capital	-3.2%	-7.0%	1.5%	8.8%	15.1%	11.9%	14.1%	12.4%
Return on assets	-5.7%	-4.2%	2.9%	6.5%	12.4%	10.1%	11.8%	10.3%
Free cash flow yield	9.4%	5.1%	3.5%	-18.3%	3.4%	5.4%	5.0%	4.8%
Earnings yield	-8.0%	-7.1%	3.5%	8.7%	7.6%	6.5%	8.9%	4.4%
Enterprise value	$300.9M	$276.5M	$491M	$441.8M	$902.5M	$684.3M	$406.4M	$792.5M
Net debt / EBITDA	-11.04×	9.52×	-1.41×	-0.98×	-1.51×	-1.93×	-2.14×	-1.5×
Cash conversion cycle (days)	155	187	214	196	131	108	103	93