Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
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Data
Price vs fair value
128.7% above
-56.3% to fair value
ACCE score
54
out of 100
P/E
0.0x
forward 28.5x
1-year return
+5.0%
Dividend yield
3.02%
Johnson Outdoors Inc. Class A Common Stock in four questions
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Overview
ACCE thesis
Johnson Outdoors makes Minn Kota trolling motors, Humminbird fish finders, Old Town kayaks and canoes, and Eureka tents and camping gear, selling through dealers and big-box retailers. Its brand portfolio in fishing electronics and marine propulsion gives it real shelf presence, reflected in a 39.7% gross margin and a 9.7% operating margin. Revenue is growing about 5.0%, and the forward P/E of 28.5 leaves little room for error if that pace slows. The stock has no index membership and a 54/100 score, so the case rests on whether a recreational-demand recovery and margin repair arrive together. Negative trailing ROE of -1.8% and a zero trailing P/E point to a recent loss, which needs explaining before any further work.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
moderate
Score fell 14 points
ACCE score dropped from 68 to 54 over 90 days, with Quality at 48 and Momentum at 38. Weak momentum and quality subscores drive most of the decline.
moderate
Negative ROE and net margin
ROE is -1.8% and net margin is -1.2%, despite a 9.7% operating margin. Earnings are being absorbed below the operating line, and the 5-year revenue CAGR is -0.1%.
moderate
Heavy short interest
Short interest stands at 14.4% of ownership. That is a meaningful bearish positioning signal, though it is not in itself evidence of a fundamental problem.
AI research notes
AI-assisted·How I use AIWritten Oct 13, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Free cash flow over the last twelve months reached $40M, giving the stock a 9.0% free cash flow yield at today's price.
Analysts' mean price target of $57.00 sits 33.2% above the current $42.80 share price.
The latest quarter beat expectations, with earnings per share of 1.42 against 0.68 expected, a surprise of 108.8%.
Why it could disappoint
The company lost money on its last reported period, with a net margin of -1.2% and a return on equity of -1.8%.
Return on invested capital of -6.0% shows the business is currently destroying value on the capital it deploys.
Revenue growth averaged -0.1% per year over five years, and the forward P/E of 28.5x prices in a recovery that has not yet shown up.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Dec 11, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
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Where JOUT's valuation models land
Price
$45.00
Model fair value
$19.68
Model range
$13.84 to $25.38
Fair value $19.68
Price $45.00
The price is above the whole model range.
Model
Fair value
Upside
Discounted cash flow
Dividend discount
EV/EBITDA comparison
P/E comparison
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Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
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+Conviction breakdown and growth / value / quality / momentum scores
+Score history: how each score moved over time
Analysts
Wall Street consensus
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Analyst intelligence INVESTOR FEATURE
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
+Price-target low / average / high vs the current price, with implied upside
+Forward revenue and EPS consensus by fiscal year
+ACCE fair-value models lined up against the Street
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