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Jamieson Wellness

JWEL.TO
55
Packaged Foods · Consumer Defensive
Price
C$45.69
+0.02 (+0.04%)
Market Cap
C$1.90B
Exchange
Toronto Stock Exchange
Winston Score
55
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Good
Growth
Exceptional
Cash Flow
Mixed
Stability
Good
Valuation
Good
Dividends
Good

Share count rising — dilution

+2.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 41.7M (2021) → 42.9M (2025)

Winston Score History

The full picture

Jamieson Wellness is a Canadian company that makes vitamins, minerals, and supplements sold in pharmacies, grocery stores, and big-box retailers. Its flagship Jamieson brand is one of the most recognized supplement brands in Canada, and it also owns other brands like Smart Solutions and Iron Vegan. The company sells to everyday consumers who want to support their health through daily supplements like vitamin C, vitamin D, fish oil, and probiotics.

Jamieson earns money by manufacturing and selling packaged supplement products, primarily through retail partners rather than direct-to-consumer channels. Most of its revenue comes from Canada, but it has been expanding into China and other international markets, which now represent a meaningful and growing share of sales. Its main competitive advantage is brand trust built over more than 100 years in Canada, though its key risk is reliance on a single core market and growing competition from private-label and global supplement brands.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+17.4% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+38.7% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

C$0/ year

0.0% of revenue

Below sector average (2%)

Research and development spending

Insider Activity

1.0%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

C$24M cash & investments at current burn rate

Growth context

Jamieson Wellness is growing revenue at 17% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Profit per sale
Gross Margin
41.6%
Healthy — 41.6% gross margin
Profit after running costs
Operating Margin
12.7%
Healthy — 12.7% operating margin
Return on the money invested
ROCE
13.7%
Good — 13.7% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+15.0%
Fast-growing sales (+15.0% YoY)
Profit growth
EPS YoY
+36.1%
Earnings growing fast (+36.1% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
45%
Weak — only 45% of profit becomes cash
Spare cash per sale
FCF Margin
2.6%
Thin free cash flow (2.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.88
Moderate — manageable debt (0.88)
Covers its interest
Interest Cover
5.15x
Adequate interest coverage (5.2x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
24.3x
Growth-priced — P/E 24.3

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+4.7
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (24.3 → 19.6)

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Dividends

Dividend
Dividend Yield
2.19%
Moderate income — 2.19% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+9.5%
Dividend growing modestly (9.5% YoY)

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