Johnson Beneish M Score

JOUT -  USA Stock  

USD 107.53  0.67  0.62%

This module uses fundamental data of Johnson Outdoors to approximate the value of its Beneish M Score. Johnson Outdoors M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Please see Johnson Outdoors Piotroski F Score and Johnson Outdoors Altman Z Score analysis.

Johnson Beneish M Score 

 
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Johnson Outdoors Total Debt is comparatively stable at the moment as compared to the past year. Johnson Outdoors reported Total Debt of 7.39 Million in 2020. Debt Current is likely to gain to about 391 K in 2021, whereas Issuance Repayment of Debt Securities is likely to drop (411.9 K) in 2021. Johnson Outdoors Revenue to Assets are comparatively stable at the moment as compared to the past year. Johnson Outdoors reported Revenue to Assets of 1.40 in 2020
At this time, it appears that Johnson Outdoors is an unlikely manipulator. The earnings manipulation may begin if Johnson Outdoors' top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Johnson Outdoors executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Johnson Outdoors' earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-2.34
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables
1.01
Asset Quality
1.19
Expense Coverage
1.01
Gross Margin Strengs
1.13
Accruals Factor
1.01
Depreciation Resistance
1.02
Net Sales Growth
1.16
Financial Leverage Condition
0.96

Johnson Outdoors Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Johnson Outdoors' auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Revenues502 M433.7 M
Fairly Up
Increasing
Slightly volatile
Selling General and Administrative Expense150.3 M128.9 M
Fairly Up
Increasing
Slightly volatile
Net Cash Flow from Operations46.3 M43.4 M
Notably Up
Increasing
Slightly volatile
Depreciation Amortization and Accretion13.2 M11.8 M
Moderately Up
Increasing
Slightly volatile
Total Assets362.6 M310.3 M
Fairly Up
Increasing
Slightly volatile
Investments37.9 M41.9 M
Moderately Down
Increasing
Slightly volatile
Investments Current37.9 M41.9 M
Moderately Down
Increasing
Slightly volatile
Property Plant and Equipment Net56.1 M49 M
Fairly Up
Increasing
Slightly volatile
Trade and Non Trade Receivables48.6 M41.5 M
Fairly Up
Increasing
Slightly volatile
Total Liabilities116.5 M102.8 M
Moderately Up
Increasing
Slightly volatile
Current Assets244.3 M202 M
Fairly Up
Increasing
Slightly volatile
Assets Non Current118.2 M108.3 M
Significantly Up
Increasing
Slightly volatile
Current Liabilities79.3 M67.7 M
Fairly Up
Increasing
Slightly volatile
Liabilities Non Current37.2 M35.1 M
Notably Up
Increasing
Slightly volatile
Total Debt7.6 M7.4 M
Fairly Up
Increasing
Slightly volatile
Debt Current391 K381 K
Fairly Up
Increasing
Slightly volatile
Debt Non Current10.6 MM
Way Up
Increasing
Slightly volatile
Operating Income33.2 M22.9 M
Way Up
Increasing
Slightly volatile
Gross Margin0.460.407
Moderately Up
Increasing
Slightly volatile

Johnson Outdoors Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Johnson Outdoors' different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Johnson Outdoors in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Johnson Outdoors' degree of accounting gimmicks and manipulations.

About Johnson Outdoors Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Depreciation Amortization and Accretion

13.25 MillionShare
Johnson Outdoors Depreciation Amortization and Accretion is comparatively stable at the moment as compared to the past year. Johnson Outdoors reported Depreciation Amortization and Accretion of 11.83 Million in 2020

About Johnson Outdoors Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Johnson Outdoors's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Johnson Outdoors using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Johnson Outdoors based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Johnson Outdoors Inc. designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. Johnson Outdoors Inc. was founded in 1970 and is headquartered in Racine, Wisconsin. Johnson Outdoors operates under Leisure classification in the United States and is traded on NASDAQ Exchange. It employs 1200 people.

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Please see Johnson Outdoors Piotroski F Score and Johnson Outdoors Altman Z Score analysis. Note that the Johnson Outdoors information on this page should be used as a complementary analysis to other Johnson Outdoors' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.

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The market value of Johnson Outdoors is measured differently than its book value, which is the value of Johnson that is recorded on the company's balance sheet. Investors also form their own opinion of Johnson Outdoors' value that differs from its market value or its book value, called intrinsic value, which is Johnson Outdoors' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Johnson Outdoors' market value can be influenced by many factors that don't directly affect Johnson Outdoors underlying business (such as pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Johnson Outdoors' value and its price as these two are different measures arrived at by different means. Investors typically determine Johnson Outdoors value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Johnson Outdoors' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.