Johnson Outdoors (Johnson Outdoors) Operating Income

: $6.3 Mil (TTM As of Dec. 2023)

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Johnson Outdoors's Operating Income for the three months ended in Dec. 2023 was $0.0 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $6.3 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Johnson Outdoors's Operating Income for the three months ended in Dec. 2023 was $0.0 Mil. Johnson Outdoors's Revenue for the three months ended in Dec. 2023 was $138.6 Mil. Therefore, Johnson Outdoors's Operating Margin % for the quarter that ended in Dec. 2023 was 0.03%.

Warning Sign:

Johnson Outdoors Inc operating margin has been in a 5-year decline. The average rate of decline per year is -24.6%.

Johnson Outdoors's 5-Year average Growth Rate for Operating Margin % was -24.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Johnson Outdoors's annualized ROC % for the quarter that ended in Dec. 2023 was 0.03%. Johnson Outdoors's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 6.06%.

Johnson Outdoors Operating Income Historical Data

The historical data trend for Johnson Outdoors's Operating Income 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.

* Premium members only.

Array ( [0] => - [1] => - [2] => - [3] => - [4] => - [5] => 63.77 [6] => 71.07 [7] => 111.28 [8] => 66.31 [9] => 11.74 )

Johnson Outdoors Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Operating Income

63.77

71.07

111.28

66.31

11.74

Johnson Outdoors Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income																5.47	11.39	17.44	-22.57	0.05

Johnson Outdoors Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $6.3 Mil.

Johnson Outdoors (NAS:JOUT) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Johnson Outdoors's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	0.184 * ( 1 - 32.95% )	/	( (457.732	+	497.331)	/ 2 )
=	0.123372	/	477.5315
=	0.03 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	681.606	-	85.256	-	( 138.618	-	max(0, 104.006	-	458.656	+	138.618	))
=	457.732

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	692.683	-	85.797	-	( 109.555	-	max(0, 104.067	-	476.224	+	109.555	))
=	497.331

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Johnson Outdoors's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	23.748	/	( ( (145.099 + max(223.041, 0))	+	(146.221 + max(269.886, 0)) )	/	2 )
=	23.748	/	( ( 368.14	+	416.107 )	/	2 )
=	23.748	/	392.1235
=	6.06 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(43.159	+	261.474	+	15.405)	-	(85.256	+	0	+	11.741)
=	223.041

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(83.043	+	267.321	+	16.305)	-	(85.797	+	0	+	10.986)
=	269.886

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Johnson Outdoors's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	0.046	/	138.644
	=	0.03 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Johnson Outdoors Operating Income Related Terms

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Johnson Outdoors (Johnson Outdoors) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Johnson Outdoors Inc (NAS:JOUT) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

555 Main Street, Racine, WI, USA, 53403

Website

https://www.johnsonoutdoors.com

Johnson Outdoors Inc is a manufacturer and marketer of branded seasonal, outdoor recreation products used for fishing from a boat, diving, paddling, hiking and camping. The company has four operating segment: Fishing, Camping, Watercraft Recreation, and Diving. It generates maximum revenue from the Fishing segment which produces and markets products under different brands such as Minn Kota electric motors for quiet trolling or primary propulsion, marine battery chargers and shallow water anchors; Humminbird sonar and GPS equipment for fish finding, navigation and marine cartography; and Cannon downriggers for controlled-depth fishing. Geographically, it derives a majority of revenue from the United States and also has a presence in Europe, Canada, and other regions.

Executives

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