JOUT has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
JOUT has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.88 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Johnson Outdoors's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Johnson Outdoors was -1.30. The lowest was -3.08. And the median was -2.59.
The historical data trend for Johnson Outdoors's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Johnson Outdoors Annual Data | |||||||||||||||||||||
Trend | Sep14 | Sep15 | Sep16 | Sep17 | Sep18 | Sep19 | Sep20 | Sep21 | Sep22 | Sep23 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial | -2.34 | -2.21 | -2.22 | -1.30 | -3.08 |
Johnson Outdoors Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Beneish M-Score | Get a 7-Day Free Trial | -1.62 | -2.15 | -2.68 | -3.08 | -2.88 |
For the Leisure subindustry, Johnson Outdoors's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Travel & Leisure industry and Consumer Cyclical sector, Johnson Outdoors's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Johnson Outdoors's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Johnson Outdoors for today is based on a combination of the following eight different indices:
M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
= | -4.84 | + | 0.92 * 0.8478 | + | 0.528 * 0.9489 | + | 0.404 * 1.2676 | + | 0.892 * 0.8125 | + | 0.115 * 0.8354 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 1.2919 | + | 4.679 * -0.029549 | - | 0.327 * 0.8956 | |||||||
= | -2.88 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $83.0 Mil. Revenue was 138.644 + 96.345 + 187.047 + 202.115 = $624.2 Mil. Gross Profit was 52.854 + 28.386 + 77.587 + 75.335 = $234.2 Mil. Total Current Assets was $476.2 Mil. Total Assets was $692.7 Mil. Property, Plant and Equipment(Net PPE) was $146.2 Mil. Depreciation, Depletion and Amortization(DDA) was $17.6 Mil. Selling, General, & Admin. Expense(SGA) was $195.9 Mil. Total Current Liabilities was $104.1 Mil. Long-Term Debt & Capital Lease Obligation was $46.2 Mil. Net Income was 3.955 + -16.007 + 14.801 + 14.861 = $17.6 Mil. Non Operating Income was 4.693 + -1.246 + 1.174 + 7.861 = $12.5 Mil. Cash Flow from Operations was -33.687 + -3.497 + 63.305 + -0.525 = $25.6 Mil. |
Total Receivables was $120.6 Mil. Revenue was 178.337 + 196.389 + 203.819 + 189.623 = $768.2 Mil. Gross Profit was 62.779 + 68.607 + 73.509 + 68.585 = $273.5 Mil. Total Current Assets was $486.5 Mil. Total Assets was $689.1 Mil. Property, Plant and Equipment(Net PPE) was $147.5 Mil. Depreciation, Depletion and Amortization(DDA) was $14.5 Mil. Selling, General, & Admin. Expense(SGA) was $186.6 Mil. Total Current Liabilities was $117.4 Mil. Long-Term Debt & Capital Lease Obligation was $49.5 Mil. |
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
= | (83.043 / 624.151) | / | (120.553 / 768.168) | |
= | 0.13305 | / | 0.156936 | |
= | 0.8478 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
= | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) | |
= | (273.48 / 768.168) | / | (234.162 / 624.151) | |
= | 0.356016 | / | 0.375169 | |
= | 0.9489 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
= | (1 - (476.224 + 146.221) / 692.683) | / | (1 - (486.524 + 147.45) / 689.096) | |
= | 0.1014 | / | 0.079992 | |
= | 1.2676 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
SGI | = | Sales_t | / | Sales_t-1 |
= | Revenue_t | / | Revenue_t-1 | |
= | 624.151 | / | 768.168 | |
= | 0.8125 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
= | (14.505 / (14.505 + 147.45)) | / | (17.559 / (17.559 + 146.221)) | |
= | 0.089562 | / | 0.107211 | |
= | 0.8354 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
= | (195.904 / 624.151) | / | (186.63 / 768.168) | |
= | 0.313873 | / | 0.242955 | |
= | 1.2919 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
= | ((46.239 + 104.067) / 692.683) | / | ((49.519 + 117.438) / 689.096) | |
= | 0.216991 | / | 0.242284 | |
= | 0.8956 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
= | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t | |
= | (17.61 - 12.482 | - | 25.596) | / | 692.683 | |
= | -0.029549 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Johnson Outdoors has a M-score of -2.88 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Johnson Outdoors's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
David W Johnson | officer: VP and Chief Financial Officer | C/O JOHNSON OUTDOORS INC., 555 MAIN STREET, RACINE WI 53403 |
Jeffrey M Stutz | director | 855 EAST MAIN, ZEELAND MI 49464 |
Fahey John M Jr | director | C/O NATINAL GEOGRAPHIC, 1146 17TH STREET NW, WASHINTON DC 20036 |
Liliann Annie Zipfel | director | 555 MAIN STREET, RACINE WI 53403 |
Paul Garvin Alexander | director | 2400 MASSACHUSETTS AVENUE, LEXINGTON MA 02421 |
Pyle Thomas F Jr | director | 3500 CORBEN COURT, MADISON WI 53704 |
Edward F Lang | director | C/O JOHNSON OUTDOORS INC., 555 MAIN STREET, RACINE WI 53403 |
Terry E London | director | 100 PIER 1 PLACE, FORT WORTH TX 76102 |
Richard Case Sheahan | director | C/O JOHNSON OUTDOORS INC., 555 MAIN STREET, RACINE WI 53403 |
William D Perez | director | |
Edward A Stevens | director | 555 MAIN STREET, RACINE WI 53403 |
Katherine Button Bell | director | 10 PICARDY LANE, ST LOUIS MO 63124 |
Towerview Llc | 10 percent owner | 460 PARK AVENUE, NEW YORK NY 10022 |
Johnson Leipold Helen P | director, 10 percent owner, officer: Chairman and CEO | C/OJ/K MANAGEMENT SERVICES INC, 555 MAIN STREET, RACINE WI 53403-1015 |
Daniel R Tisch | 10 percent owner | 460 PARK AVENUE, NEW YORK NY 10022 |
From GuruFocus
By Marketwired • 08-08-2023
By Value_Insider Value_Insider • 12-08-2022
By sperokesalga sperokesalga • 03-03-2023
By GuruFocusNews GuruFocusNews • 07-07-2022
By sperokesalga sperokesalga • 05-25-2023
By GuruFocus Research • 01-09-2024
By GuruFocusNews GuruFocusNews • 07-05-2022
By GlobeNewswire GlobeNewswire • 02-08-2023
By GuruFocusNews GuruFocusNews • 07-08-2022
By Marketwired • 10-19-2023
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.