Financials Jamieson Wellness Inc.

Equities

JWEL

CA4707481046

Food Processing

Market Closed - Toronto S.E. Other stock markets 04:00:00 2024-04-26 pm EDT			5-day change	1st Jan Change
26.51 ^CAD	+1.38%		+1.34%	-16.45%

Mar. 28	Jamieson Wellness Brief: Publishing Inaugural Sustainability Impact Report	MT
Mar. 14	Jamieson Wellness Maintained at Buy at Stifel GMP Following Q4 Results Miss; Price Target Cut to C$42.00	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	1,003	1,440	1,621	1,463	1,328	1,098	-
Enterprise Value (EV) ¹	1,168	1,588	1,763	1,836	1,624	1,391	1,366
P/E ratio	32.2 x	-	32.1 x	28.1 x	29.4 x	16.6 x	13.3 x
Yield	1.48%	1.34%	1.37%	1.88%	2.27%	2.84%	3.17%
Capitalization / Revenue	2.91 x	3.57 x	3.59 x	2.67 x	1.96 x	1.49 x	1.33 x
EV / Revenue	3.38 x	3.93 x	3.91 x	3.35 x	2.4 x	1.88 x	1.66 x
EV / EBITDA	15.4 x	18 x	17.6 x	14.8 x	11.8 x	9.94 x	8.51 x
EV / FCF	158 x	54.1 x	77 x	50.1 x	71 x	29.5 x	19.9 x
FCF Yield	0.63%	1.85%	1.3%	2%	1.41%	3.39%	5.03%
Price to Book	-	4.93 x	4.71 x	3.33 x	2.77 x	2.13 x	1.96 x
Nbr of stocks (in thousands)	38,953	39,862	40,379	41,682	41,865	41,434	-
Reference price ²	25.75	36.13	40.14	35.09	31.73	26.51	26.51
Announcement Date	2/20/20	2/25/21	2/24/22	2/23/23	3/13/24	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	345	403.7	451	547.4	676.2	738.2	824.2
EBITDA ¹	75.91	87.98	100.1	123.8	138.1	140	160.5
EBIT	55.45	63.57	81.06	101.6	-	-	-
Operating Margin	16.07%	15.75%	17.97%	18.56%	-	-	-
Earnings before Tax (EBT)	42.3	-	-	-	-	-	-
Net income	31.66	-	-	-	-	-	-
Net margin	9.18%	-	-	-	-	-	-
EPS ²	0.8000	-	1.250	1.250	1.080	1.600	2.000
Free Cash Flow ¹	7.369	29.34	22.91	36.66	22.88	47.22	68.74
FCF margin	2.14%	7.27%	5.08%	6.7%	3.38%	6.4%	8.34%
FCF Conversion (EBITDA)	9.71%	33.35%	22.89%	29.62%	16.57%	33.73%	42.83%
FCF Conversion (Net income)	23.28%	-	-	-	-	-	-
Dividend per Share ²	0.3800	0.4850	0.5500	0.6600	0.7200	0.7533	0.8400
Announcement Date	2/20/20	2/25/21	2/24/22	2/23/23	3/13/24	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	112.4	129.8	103.7	112	138.9	192.8	136.7	167.6	151.5	220.4	123.4	186.8	174.5	252.4	-
EBITDA ¹	25.46	33.77	20.94	24.44	29.5	48.87	24.51	31.06	31.87	50.63	15.2	33.69	34.53	56.51	20.53
EBIT	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net margin	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EPS ²	0.3400	0.4800	-	0.2400	0.2600	0.5200	0.1700	0.1700	0.1800	0.5600	0.1000	0.4100	0.3900	0.6900	-
Dividend per Share ²	-	-	-	-	-	-	-	0.1900	0.1900	0.1900	0.1900	0.1900	0.2100	0.2100	-
Announcement Date	11/4/21	2/24/22	5/5/22	8/4/22	11/3/22	2/23/23	5/4/23	8/3/23	11/2/23	3/13/24	-	-	-	-	-

¹CAD in Million²CAD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	165	148	142	374	296	293	268
Net Cash position ¹	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.168 x	1.681 x	1.422 x	3.02 x	2.142 x	2.093 x	1.67 x
Free Cash Flow ¹	7.37	29.3	22.9	36.7	22.9	47.2	68.7
ROE (net income / shareholders' equity)	15.2%	17.4%	17.4%	16.8%	14.5%	13.8%	15.1%
ROA (Net income/ Total Assets)	6.86%	8.19%	8.75%	7.4%	-	-	-
Assets	461.3	-	-	-	-	-	-
Book Value Per Share ²	-	7.330	8.520	10.50	11.50	12.40	13.50
Cash Flow per Share ²	0.4100	0.9900	1.070	1.200	0.7400	1.610	2.080
Capex ¹	9.03	11.3	21.5	13.9	8.84	15.5	18
Capex / Sales	2.62%	2.79%	4.77%	2.55%	1.31%	2.1%	2.19%
Announcement Date	2/20/20	2/25/21	2/24/22	2/23/23	3/13/24	-	-

¹CAD in Million²CAD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Jamieson Wellness Inc.

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

26.51 CAD

Average target price

35.05 CAD

Spread / Average Target

+32.21%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Special Foods & Wellbeing Products

	1st Jan change	Capi.
JAMIESON WELLNESS INC.	-16.45%	802M
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CSPC INNOVATION PHARMACEUTICAL CO., LTD.	+10.20%	6.52B
BYHEALTH CO., LTD	-8.10%	3.67B
XIAMEN KINGDOMWAY GROUP COMPANY	-14.57%	1.17B
SIRIO PHARMA CO., LTD.	+8.34%	934M
HERBALIFE LTD.	-42.27%	879M
USANA HEALTH SCIENCES, INC.	-18.90%	836M
GRAPE KING BIO LTD	+0.32%	711M

Special Foods & Wellbeing Products