Start here if you're new
what it is
Johnson Outdoors sells branded outdoor gear for fishing, kayaking, diving, and camping.
how it gets paid
Last year Johnson Outdoors made $592M in revenue.
why it's growing
Revenue grew 336.4% last year. Gross margin reached 36.6%, up 6.7 points from the prior year quarter.
what just happened
Johnson Outdoors posted $140.9M in Q1 revenue, up 31%, and beat the EPS estimate with a smaller loss.
At a glance
B balance sheet — gets the job done, barely
20/100 earnings predictability — expect surprises
3.0% dividend yield — cash in your pocket every quarter
3.9% return on capital — nothing to write home about
-$1.89 fy2024 eps est
xvary composite: 67/100 — average
What they do
Johnson Outdoors sells branded outdoor gear for fishing, kayaking, diving, and camping.
If your boat already runs a Minn Kota motor, adding Humminbird sonar or a Cannon downrigger is the easy choice. Johnson Outdoors did $592M in annual sales with only $40M of long-term debt, or 8% of capital, so it has room to keep supporting brands your local dealer already knows.
How they make money
$592M
annual revenue · their business grew +336.4% last year
total revenue
$592M
+336.4%
The products that matter
fishing electronics & trolling motors
Humminbird & Minn Kota
$112.4M · 80% of quarterly sales
This was the entire growth engine last quarter. Sales rose 36% to $112.4M, which tells you the investment case starts with anglers opening their wallets.
dominant segment
kayaks and canoes
Old Town
$17.8M · 13% of quarterly sales
Old Town gives you history and brand recognition, but the latest quarter was only $17.8M in sales with 5% growth. Helpful, not enough to change the whole model.
brand heritage
diving equipment
SCUBAPRO
$10.7M · 7% of quarterly sales
Diving was flat at $10.7M. That's fine for stability, but it also means this segment is not bailing out the rest of the company if fishing slows.
small contributor
Key numbers
$592M
annual revenue
This is a small company. A few weak retail seasons can move the whole story because the revenue base is under $600M.
$1.89
FY2024 EPS
EPS → profit per share → so what: the company lost money for the year even after a better recent quarter.
4.2%
operating margin
Operating margin → profit after running the business → so what: there is not much cushion if dealers order less gear.
$40M
long-term debt
Debt is only 8% of capital, which means the balance sheet is not the problem. Demand is.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 1 — safer than 95% of stocks
- price stability 50 / 100
- long-term debt $40M (8% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for JOUT right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Johnson Outdoors posted $140.9M in Q1 revenue, up 31%, and beat the EPS estimate with a smaller loss.
Gross margin reached 36.6%, up 6.7 points from the prior year quarter. Management said growth came from higher unit volume, new product launches, and improved trade inventory levels in fishing.
$140.9M
revenue
$0.33
eps
36.6%
gross margin
the number that mattered
36.6% gross margin mattered most because margin recovery is the only clean path from a -$1.89 full-year EPS loss back to steady profits.
source: company earnings report, 2026
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What could go wrong
the #1 risk is fishing demand doing almost all the work. In the latest quarter, Fishing was $112.4M of $140.9M in sales.
high
segment concentration
Fishing produced 80% of quarterly sales. If angler demand slips, the other two segments are too small to offset much of the damage.
80% of the quarter came from one category.
high
leadership transition
Longtime CFO David W. Johnson announced his retirement on March 4, 2026. Replacing a senior finance leader during a margin-repair phase adds execution risk fast.
One key operator is leaving before the turnaround is proven.
med
seasonal earnings profile
The company still loses money in its first fiscal quarter. Seasonality is normal here, but it also means a weak selling season can hit the full year hard.
Latest quarter EPS was still -$0.33 even after a revenue rebound.
med
dividend versus profits
A 3.0% yield sounds calm. The dividend still costs about $14M a year while earnings remain uneven. If profit recovery stalls, the payout becomes a bigger question.
$14M a year is manageable until profits stop cooperating.
Fishing generated $112.4M of the $140.9M quarter, and the company still lost $0.33 per share. That leaves little room for a demand wobble, a messy CFO handoff, or another margin slip.
source: institutional data · regulatory filings · risk analysis
Pay attention to
mix
Whether Fishing stays above 75% of sales
Fishing was 80% of the latest quarter. If that share falls because the other segments grow, the business gets healthier. If it falls because Fishing weakens, the story gets worse.
calendar
next earnings report
The next quarter needs to show whether the 31% sales rebound was the start of normalization or just an easy compare.
leadership
who replaces the CFO
A clean hire with operating credibility would calm the story. A long gap or an interim patch would tell you the bench was thinner than it looked.
margin
whether gross margin holds above 36%
Gross margin reached 36.6% after a 6.7-point improvement. If that gives back quickly, the recent EPS improvement will look cosmetic.
Analyst rankings
earnings predictability
20 / 100
Only 20 / 100. In human-speak, analysts do not trust this company to deliver smooth, repeatable quarters.
risk rank
1
This scores as safer than 95% of stocks. Translation: the balance sheet looks better than the income statement.
price stability
50 / 100
Middle of the pack. You're not getting a bunker stock here, but you're not getting a meme-stock rollercoaster either.
source: institutional data
Institutional activity
institutional ownership data for JOUT is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$43
current price
n/a
target midpoint · n/a from current
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