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Johnson Outdoors Inc


Sporting & Athletic Goods, NEC

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Charts data: {"Earnings":[{"time":"2014-10-02","value":9123000},{"time":"2015-10-01","value":10616000},{"time":"2016-09-29","value":13501000},{"time":"2017-09-28","value":35157000},{"time":"2018-09-27","value":40669000},{"time":"2019-09-26","value":51413000},{"time":"2020-10-01","value":55233000},{"time":"2021-09-30","value":83381000},{"time":"2022-09-29","value":44491000},{"time":"2023-09-28","value":19534000}],"Sales":[{"time":"2014-10-02","value":425410000},{"time":"2015-10-01","value":430489000},{"time":"2016-09-29","value":433727000},{"time":"2017-09-28","value":490565000},{"time":"2018-09-27","value":544268000},{"time":"2019-09-26","value":562419000},{"time":"2020-10-01","value":594209000},{"time":"2021-09-30","value":751651000},{"time":"2022-09-29","value":743355000},{"time":"2023-09-28","value":663844000}],"Net Margins":[{"time":"2014-10-02","value":0.02144519404809478},{"time":"2015-10-01","value":0.02466032813846579},{"time":"2016-09-29","value":0.031127875368607442},{"time":"2017-09-28","value":0.07166634390957366},{"time":"2018-09-27","value":0.07472237941602299},{"time":"2019-09-26","value":0.09141405251245069},{"time":"2020-10-01","value":0.09295214310116474},{"time":"2021-09-30","value":0.11093047172158356},{"time":"2022-09-29","value":0.05985161867479199},{"time":"2023-09-28","value":0.029425587939335144}],"Assets":[{"time":"2014-10-02","value":288626000},{"time":"2015-10-01","value":299204000},{"time":"2016-09-29","value":310279000},{"time":"2017-09-28","value":353659000},{"time":"2018-09-27","value":395936000},{"time":"2019-09-26","value":436444000},{"time":"2020-10-01","value":546026000},{"time":"2021-09-30","value":674287000},{"time":"2022-09-29","value":679931000},{"time":"2023-09-28","value":681606000}],"Stockholders Equity":[{"time":"2014-10-02","value":198458000},{"time":"2015-10-01","value":197968000},{"time":"2016-09-29","value":207496000},{"time":"2017-09-28","value":243004000},{"time":"2018-09-27","value":279197000},{"time":"2019-09-26","value":324534000},{"time":"2020-10-01","value":378100000},{"time":"2021-09-30","value":458505000},{"time":"2022-09-29","value":488014000},{"time":"2023-09-28","value":499737000}],"ROE":[{"time":"2014-10-02","value":0.045969424261052716},{"time":"2015-10-01","value":0.053624828255071526},{"time":"2016-09-29","value":0.06506631453136447},{"time":"2017-09-28","value":0.14467663083735247},{"time":"2018-09-27","value":0.14566417260930453},{"time":"2019-09-26","value":0.15842099749178823},{"time":"2020-10-01","value":0.14608040201005026},{"time":"2021-09-30","value":0.18185406920317118},{"time":"2022-09-29","value":0.0911674665071084},{"time":"2023-09-28","value":0.03908856058286659}],"ROA":[{"time":"2014-10-02","value":0.0630920291311247},{"time":"2015-10-01","value":0.059668319942246764},{"time":"2016-09-29","value":0.07858089010213389},{"time":"2017-09-28","value":0.13845823236507482},{"time":"2018-09-27","value":0.17252535763355695},{"time":"2019-09-26","value":0.15277790506914976},{"time":"2020-10-01","value":0.13524081270855234},{"time":"2021-09-30","value":0.16746874847060672},{"time":"2022-09-29","value":0.09752460176106105},{"time":"2023-09-28","value":0.03788699043142226}]}

Johnson Outdoors Inc. designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, 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, original equipment manufacturers, and distributors. The Camping segment provides consumer, commercial, and military tents and accessories; camping furniture and stoves; other recreational camping products; and portable outdoor cooking systems, as well as manufactures fabric floors and insulated thermal liners and a subcontract manufacturer of military tents. This segment sells its products under the Eureka! and Jetboil brands through independent sales representatives and Internet retailers. The Watercraft Recreation segment offers kayaks, canoes, and paddles for family recreation, touring, angling, and tripping through independent specialty and outdoor retailers under the Ocean Kayaks, Old Town, and Carlisle brands. The Diving segment manufactures and markets underwater diving and snorkeling equipment, such as regulators, buoyancy compensators, dive computers and gauges, wetsuits, masks, fins, snorkels, and accessories through independent specialty dive stores and diving magazines 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 websites. The company was founded in 1970 and is headquartered in Racine, Wisconsin.


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In the chart Earnings are multiplied by this value.

Earnings Growth 8.9%
Earnings Stability 12%

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Net Margin2.5%3.1%7.2%7.5%9.1%9.3%11%6%2.9%0.82%

What is the average Net Margin?

The average Net Margin over the past 5 years is +7.65%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -0.87%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +12.72%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -2.3%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +12.7%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -2%.

Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Debt FCF1.
Debt Equity0.
Graham Stability--100%100%100%100%100%70%32%32%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 0.00.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is 0.00.

What is the Graham’s Stability?

Graham’s Stability measure stands at 0.32.


Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Net Income5.4%-14%-29%-56%-12%
Stockholders Equity13%12%9.7%2.4%0.42%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +4.05%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -0.53%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is -13.64%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -12.31%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +12.35%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +0.42%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is -15.5%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -15.41%.