JOHNSON OUTDOORS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data JOHNSON OUTDOORS INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	434	491	544	562	594	752	743	664	593	592
Cost of revenue	257	280	302	313	329	418	472	420	392	384
Gross profit	176	211	242	250	265	334	271	244	201	208
Research and development	18.4	19.2	20.4	21.9	24.6	25.7	27.7	31.4	31.1	32.2
Selling and marketing	90.7	100	113	121	122	141	134	144	145	134
General and administrative	38.3	45.8	45.6	42.6	47.8	56.1	43.4	56.5	57.6	57.6
Operating expenses	154	165	179	186	194	223	205	232	245	224
Operating income	22.9	45.6	63	63.8	71.1	111	66.3	11.7	-43.5	-16.2
Interest expense	0.73	0.76	0.2	0.17	0.14	0.15	0.15	0.15	0.15	0.22
Other non-operating income	1.41	3.06	4.12	0.8	1.36	1.42	-8.08	9.69	8.97	3.35
Pre-tax income	23.7	48.2	68.1	66.5	73.7	113	58.9	25.8	-29.9	-9.28
Income tax	10.2	13.1	27.4	15.1	18.5	29.5	14.4	6.29	-3.33	25
Net income	13.5	35.2	40.7	51.4	55.2	83.4	44.5	19.5	-26.5	-34.3
EBITDA	34.7	58.7	76.1	77.7	86	125	80.5	28	-23.9	4.44
Shares, diluted (weighted)	9.86	9.92	10	10	10.1	10.1	10.2	10.2	10.2	10.3

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	87.3	63.8	122	172	212	240	130	112	145	176
Short-term investments	0	46.6	28.7	0			0	26.8	16.5	0
Receivables	41.5	46.8	40.9	44.5	67.3	71.3	91.9	43.2	40.6	50.5
Inventory	68.4	79.1	88.9	94.3	97.4	167	249	261	210	171
Other current assets	4.76	4.47	5.37	11.3	11.4	12.9	9.95	15.4	16.3	11.2
Total current assets	202	241	286	323	389	491	480	459	429	409
Property, plant and equipment	49	48.9	55.9	59.5	63	71.5	89.1	94.4	96.9	93.7
Lease right-of-use assets				0	40.7	49	56.6	50.7	47.5	46.6
Goodwill	11.2	11.2	11.2	11.2	11.2	11.2	11.2	11.2	0	10.5
Intangible assets	14.5	13.5	12.3	11.4	9.05	8.63	8.37	8.47	8.32	9.53
Long-term investments							0	13.9	0
Other non-current assets	14.6	16.5	19	20.4	22.9	29.5	22.9	25.9	1.18	1.26
Total assets	310	354	396	436	546	674	680	682	635	604
Accounts payable	24.5	31.7	34.2	30.4	37.3	56.7	53.8	42.7	36.1	40.1
Accrued liabilities	7.07	5.14	7.51	7.5	5.11	6.63	20.8	16.7	12.4	20.6
Deferred revenue			4.35	4.44	4.43	6.87	4.73	3.77	4.2	4.37
Short-term debt	0.38	0
Total current liabilities	67.7	84.1	92.8	87.9	106	138	115	104	90.4	105
Long-term debt	7.01	0
Lease liabilities				0	34.9	44.1	50.7	45.3	41.8	40.4
Other non-current liabilities	14.2	15.9	2.82	2.37	3.53	3.28	1.74	4.5	6.89	6.17
Total liabilities	103	111	117	112	168	216	192	182	172	186
Total debt	7.39	0	0	0	0	0	0	0	0	0
Paid-in capital	71.1	72.8	75	75.9	78.7	82.9	87.4	88.2	90.1	91.9
Retained earnings	135	167	203	248	296	371	403	410	370	322
Treasury stock	-1.89	-2.2	-2.65	-1.76	-2.22	-2.79	-3.29	-1.91	-2.8	-3.03
Other comprehensive income	2.35	4.99	3.49	1.56	4.72	7.39	0.62	3.32	5.96	7.29
Shareholders' equity	207	243	279	325	378	459	488	500	463	418
Total equity	207	243	279	325	378	459	488	500	463	418
Total liabilities and equity	310	354	396	436	546	674	680	682	635	604

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	13.5	35.2	40.7	51.4	55.2	83.4	44.5	19.5	-26.5	-34.3
Depreciation and amortization	11.8	13.1	13.1	14	14.9	13.4	14.2	16.3	19.6	20.6
Stock-based compensation	1.83	1.99	2.3	2.35	2.69	4.16	4.13	2.45	1.29	1.5
Deferred income tax	-2.22	-2.78	10.8	0.21	0.49	-2.28	1.85	-6.93	-5.09	20.6
Change in receivables	3.39	-5.36	5.41	-6.1	-24.6	-3.95	-22	48.3	-0.27	-10.3
Change in inventory	8.52	-11.4	-10.5	-7.36	-2.87	-69.6	-89.3	-28.4	42.1	40.9
Change in payables	-2.51	15.9	8.43	-4.73	10.4	31.7	-21.7	-10.8	-14.7	11.1
Cash from operations	43.4	46.4	63.4	45.8	61.5	58.3	-62.1	41.7	41	56.2
Capital expenditures	-11.7	-11.6	-19.2	-16.8	-15.6	-21.4	-31.7	-22.7	-22	-16
Acquisitions	-9.15	0	0					0	0	-12.2
Purchases of investments	0	-46.6	-34.8	-7.12	0	0	0	-40.7	-2.22	0
Cash from investing	-20.7	-58	0.05	12	-15.6	-21.4	-31.7	-48.4	5.03	-11.9
Debt repaid	-0.33	-7.38	0	0
Stock issued	0.27	0.05	0.15	0.08	0.13	0	0.33	0.27	0.17	0.12
Share buybacks	-1.51	-0.66	-0.68	-0.71	-0.46	-0.5	-0.51	-0.44	-0.44	-0.12
Dividends paid	-3.17	-3.56	-4.35	-5.56	-6.77	-8.4	-12.1	-12.6	-13.4	-13.5
Cash from financing	-4.74	-11.6	-4.94	-6.19	-7.11	-9.03	-12.2	-12.7	-13.7	-13.6
Exchange rate effect	0.18	-0.28	-0.4	-1.14	1.26	0.11	-4.59	1.44	1.32	0.11
Net change in cash	18.1	-23.5	58.1	50.5	40.1	28	-111	-17.9	33.6	30.9
Free cash flow	31.7	34.7	44.2	29.1	45.9	36.9	-93.8	19	19	40.2
Interest paid	0.73	0.49	0.14	0.14	0.11	0.11	0.11	0.11	0.12	0.17
Income taxes paid	14.5	13.8	14.4	16.7	19.2	26.5	19.1	17.1	2.07	-0.93

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 3, 2026; growth uses fiscal years. Valuation uses the share price of $44.43 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	39.7%	Gross profit / revenue.
Operating margin	2.7%	Operating income / revenue.
EBITDA margin	5.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	4.1%	Pre-tax income / revenue.
Net margin	-1.2%	Net income / revenue.
FCF margin	4.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	7.6%	Cash from operations / revenue.
Effective tax rate	129.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	-1.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.2%	Net income / average total assets.
Return on invested capital (ROIC)	5.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	5.2%	Research and development expense / revenue.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.1%	Capital expenditures / revenue.
D&A / revenue	3.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-0.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-7.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-0.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-8.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-4.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA CAGR, 3y	-62.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-44.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	37.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-1.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	112.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-2.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-9.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-5.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-4.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-3.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.37x	Current assets / current liabilities.
Quick ratio	1.89x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.32x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.00x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	0.0%	Total debt / total assets.
Liabilities / assets	33.6%	Total liabilities / total assets.
Net debt	-$175.2M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-4.62x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	81.8x	Operating income / interest expense.
Working capital	$314.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	3.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$410.5M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.02x	Revenue / average total assets.
Fixed asset turnover	6.89x	Revenue / average property, plant and equipment.
Inventory turnover	2.12x	Cost of revenue / average inventory.
Days inventory	172 days	365 x average inventory / cost of revenue.
Receivables turnover	8.65x	Revenue / average receivables.
Days sales outstanding	42 days	365 x average receivables / revenue.
Days payables	49 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	166 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	40.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.77	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$63.62	Revenue / diluted weighted shares.
FCF per share	$2.88	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.85	Cash from operations / diluted weighted shares.
Book value per share	$41.46	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$39.52	Tangible book value / shares outstanding.
Cash per share	$16.87	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	45.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	0.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$465.6M	Share price x shares outstanding.
Enterprise value	$290.4M	Market cap + total debt - cash - short-term investments.
P/S	0.70x	Market cap / revenue.
P/B	1.08x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.13x	Market cap / tangible book value, when positive.
P/FCF	15.6x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.24x	Market cap / cash from operations, when positive.
EV/Sales	0.44x	Enterprise value / revenue.
EV/EBIT	16.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	7.65x	Enterprise value / EBITDA, when both are positive.
EV/FCF	9.71x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.4%	Free cash flow / market cap.
Earnings yield	-1.7%	Net income / market cap (the inverse of P/E).
Dividend yield	2.9%	Dividends paid over the period / market cap.
Shareholder yield	3.0%	(Dividends paid + share buybacks) / market cap.

What was JOHNSON OUTDOORS INC's revenue in fiscal 2025?

JOHNSON OUTDOORS INC reported revenue of $592.4M for fiscal 2025, 0.1% lower than the year before.

Was JOHNSON OUTDOORS INC profitable in fiscal 2025?

No. It reported a net loss of $34.3M.

How much free cash flow did JOHNSON OUTDOORS INC generate in fiscal 2025?

Cash from operations of $56.2M minus capital expenditures of $16.0M left free cash flow of $40.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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