Jamieson Wellness Inc. (JWEL.TO) 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

-35.1%

CA$29.59

vs CA$45.56 price

Levered DCF

CA$15.93

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.17

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	22.58×	29.37×	27.83×	27.2×	30.88×	34.41×	31.4×	30.47×
P/B	2.9×	3.02×	3.03×	3.33×	4.71×	4.89×	3.83×	3.37×
P/S	1.71×	2.08×	1.97×	2.63×	3.57×	3.54×	2.88×	2.54×
EV / EBITDA	13.59×	15.62×	16.16×	18.09×	19.4×	20.94×	18.81×	17.44×
Gross margin	41.2%	37.6%	34.5%	36.2%	36.0%	35.9%	37.6%	36.1%
Operating margin	13.8%	14.5%	12.9%	15.2%	16.9%	15.7%	16.1%	15.7%
Net margin	7.6%	7.1%	7.1%	9.6%	11.5%	10.3%	9.2%	8.3%
Current ratio	2.59×	2.53×	2.7×	2.28×	2.84×	2.24×	2.36×	1.68×
Debt / equity	0.97×	0.61×	1.05×	0.93×	0.44×	0.51×	0.64×	0.69×
Interest coverage	4.4×	5.24×	3.84×	6.7×	13.44×	10.52×	6.68×	0×
Dividend yield	2.6%	2.2%	2.3%	1.8%	1.4%	1.3%	1.5%	1.6%
Payout ratio	59.6%	64.5%	63.2%	49.8%	42.4%	44.8%	46.4%	48.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.9%	10.3%	10.9%	12.2%	15.2%	14.2%	12.2%	11.1%
Return on invested capital	7.8%	6.7%	6.1%	6.5%	9.8%	8.9%	8.5%	7.8%
Return on assets	5.1%	4.3%	4.2%	4.8%	8.0%	6.8%	5.6%	4.9%
Free cash flow yield	5.0%	3.4%	1.7%	2.5%	1.4%	1.9%	0.7%	2.0%
Earnings yield	4.4%	3.4%	3.6%	3.7%	3.2%	2.9%	3.2%	3.3%
Enterprise value	CA$1.8B	CA$1.8B	CA$1.8B	CA$1.8B	CA$1.8B	CA$1.6B	CA$1.2B	CA$964.2M
Net debt / EBITDA	3.18×	2.3×	3.92×	3.73×	1.57×	1.96×	2.68×	2.78×
Cash conversion cycle (days)	171	173	176	134	162	151	140	93