WOLVERINE WORLD WIDE INC /DE/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data WOLVERINE WORLD WIDE INC /DE/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2024
Revenue	2,495	2,350	2,239	2,274	1,791	2,415	2,685	2,243	1,755	1,874
Cost of revenue	1,526	1,427	1,318	1,350	1,056	1,385	1,614	1,369	977	988
Gross profit	960	914	921	924	736	1,030	1,070	874	778	887
Selling, general and administrative	754	706	654	669	639	818	906	856	690	730
Operating expenses							1,279	941	681	737
Operating income	164	31.6	252	171	-137	156	-208	-66.8	97.5	150
Other non-operating income	-53.3	-42.2	-24.5	-25.1	-47	-75.4	-44.5	-66	-39.4	-28.7
Pre-tax income	111	-10.6	227	146	-184	80.3	-253	-133	58.1	122
Income tax	23	-9.9	27.1	17	-45.5	13.3	-63.8	-94.7	9.3	20.5
Net income to minority interests	-0.2	-1	0.2	0.4	-1.7	-1.6	-0.8	0.4	3.6	5.2
Net income	87.7	0.3	200	129	-137	68.6	-188	-38.5	45.2	95.8
EBITDA	207	68.8	283	204	-104	189	-174	-31.7	124	176
EPS, basic	0.90	0.00	2.07	1.48	-1.70	0.82	-2.37	-0.49	0.55	1.14
EPS, diluted	0.89	0.00	2.05	1.44	-1.70	0.81	-2.37	-0.49	0.55	1.14
Shares, basic (weighted)	95.3	93.7	93	85.1	81	82.3	79.7	79.4
Shares, diluted (weighted)	96.2	95.4	95	87.2	81	83.3	79.7	79.4	80	81.7
Dividend per share	0.24	0.24	0.32	0.40	0.40	0.40	0.40	0.40	0.40	0.40

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2024
Cash and equivalents	370	481	143	181	347	162	132	179	152	206
Receivables	263	271	361	331	268	320	242	231	209	162
Inventory	349	277	318	348	243	366	745	374	248	274
Other current assets										86.8
Total current assets	1,031	1,074	868	967	904	904	1,265	1,025	696	729
Property, plant and equipment	146	137	131	141	125	129	136	96.3	89.7	80.6
Lease right-of-use assets			0	161	143	138	175	118	102	99.9
Goodwill	424	430	424	439	442	557	485	427	425	431
Intangible assets	83.8	77	71.9	77.8	73	74.6	67.4	34.9	31.5	29.3
Other non-current assets	65.3	72.4	80.6	87	65.2	64.4	65.6	70.7	65.7	74.5
Total assets	2,432	2,399	2,183	2,480	2,137	2,586	2,493	2,063	1,674	1,709
Accounts payable	151	162	202	202	185	222	272	206	201	175
Short-term debt	37.5	37.5	7.5	12.5	10	10	10	10	10	0
Total current liabilities	334	362	473	787	406	760	1,110	869	533	521
Long-term debt	780	745	438	426	713	732	723	606	568	547
Lease liabilities			0	147	130	118	154	132	116	105
Other non-current liabilities	39.5	111	80.5	132	133	106	58.6	49.9	34.8	28.1
Total liabilities	1,458	1,444	1,192	1,702	1,564	1,942	2,147	1,755	1,352	1,286
Total debt	820	782	570	798	723	967	1,158	921	648	622
Paid-in capital	103	149	201	233	253	299	325	364	383	407
Retained earnings	1,015	992	1,170	1,263	1,093	1,128	907	835	855	917
Treasury stock	-176	-223	-404	-736	-764	-810	-891	-891	-891	-905
Other comprehensive income	-81.1	-75.2	-88.3	-102	-131	-98.9	-133	-142	-148	-126
Shareholders' equity	967	950	986	767	561	630	321	279	313	408
Minority interests	7.6	5.6	5.6	11.7	11.6	14.8	18.4	21.4	9.2	15.1
Total equity	974	955	992	778	573	644	346	308	322	423
Total liabilities and equity	2,432	2,399	2,183	2,480	2,137	2,586	2,493	2,063	1,674	1,709

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2024
Net income	87.5	-0.7	200	129	-139	67	-189	-38.1	48.8	101
Depreciation and amortization	43.5	37.2	31.5	32.7	32.8	33.2	34.6	35.1	26.2	25.9
Stock-based compensation	22.8	25.4	31.2	24.5	28.9	38.1	33.4	15.2	19.1	24.4
Deferred income tax	-5.8	-75.8	22.1	-9	-56.9	-14.7	-106	-95.5	20.6	8
Change in receivables	32.3	-2.7	-95	30.7	64.8	-49.2	84.5	2.8	16.7	54.2
Change in inventory	110	45.4	-44.5	-23.8	107	-77.2	-429	285	131	-20.9
Change in payables	-50.4	11.2	40.6	0	-18.9	23	62.6	-65.6	-3.4	-30
Cash from operations	296	203	97.5	223	309	86.8	-179	122	180	140
Capital expenditures	-55.3	-32.4	-21.7	-34.4	-10.3	-17.6	-36.5	-14.6	-20.2	-14.5
Acquisitions		0	0	-15.1	-5.5	-417	0	0
Cash from investing	-38.4	-1	-22.2	-61.5	6.1	-437	54.6	172	86.8	-13.9
Debt issued	400	0	200	0	471	750	0	0
Debt repaid	-394	-37.5	-538	-7.5	-184	-730	-10	-118	-39.2	-32.5
Share buybacks	-52.7	-51.5	-175	-319	-21	-39.6	-81.3	0	0	-14.5
Dividends paid	-23.5	-23	-28.6	-33.6	-33.6	-33.5	-32.8	-32.6	-32.5	-33.3
Cash from financing	-79.5	-98	-405	-125	-154	169	107	-246	-299	-77.7
Exchange rate effect	-2.7	7.5	-8.7	1	5.6	-4.5	-9	2	-0.2	5.8
Net change in cash	176	111	-338	37.5	167	-186	-26.2	49.1	-32.5	54.2
Free cash flow	241	170	75.8	188	299	69.2	-215	107	160	126
Interest paid	33.7	31.5	29	32.4	41.4	34.6	43	63.5	44.1	33.5
Income taxes paid	35.4	23.6	17.4	23.2	8.6	27.8	44.3	27	20	25.4

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 4, 2026; growth uses fiscal years. Valuation uses the share price of $19.07 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	47.1%	Gross profit / revenue.
Operating margin	8.7%	Operating income / revenue.
EBITDA margin	9.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	7.3%	Pre-tax income / revenue.
Net margin	5.5%	Net income / revenue.
FCF margin	9.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	9.4%	Cash from operations / revenue.
Effective tax rate	19.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	24.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.3%	Net income / average total assets.
Return on invested capital (ROIC)	15.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	38.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.4%	Capital expenditures / revenue.
D&A / revenue	1.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-11.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	0.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	14.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-6.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	3.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	54.1%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	42.4%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	111.9%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	107.3%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-22.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-14.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-21.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-15.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	0.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	30.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-6.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	2.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-11.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-4.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	2.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.55x	Current assets / current liabilities.
Quick ratio	0.80x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.33x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.34x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	35.2%	Total debt / total assets.
Liabilities / assets	72.6%	Total liabilities / total assets.
Net debt	$442.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.29x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$261.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	26.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$8.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.14x	Revenue / average total assets.
Fixed asset turnover	25.4x	Revenue / average property, plant and equipment.
Inventory turnover	3.83x	Cost of revenue / average inventory.
Days inventory	95 days	365 x average inventory / cost of revenue.
Receivables turnover	8.83x	Revenue / average receivables.
Days sales outstanding	41 days	365 x average receivables / revenue.
Days payables	67 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	69 days	Days inventory + days sales outstanding - days payables.
FCF conversion	161.6%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	4.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.32	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$23.80	Revenue / diluted weighted shares.
FCF per share	$2.13	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.23	Cash from operations / diluted weighted shares.
Book value per share	$5.48	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$0.10	Tangible book value / shares outstanding.
Cash per share	$1.93	(Cash + short-term investments) / shares outstanding.
Payout ratio	31.0%	Dividends paid / net income, when net income is positive.
Dividends / FCF	19.2%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.57B	Share price x shares outstanding.
Enterprise value	$2.01B	Market cap + total debt - cash - short-term investments.
P/E	14.5x	Market cap / net income. Only when net income is positive.
P/S	0.80x	Market cap / revenue.
P/B	3.48x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	8.94x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	8.57x	Market cap / cash from operations, when positive.
EV/Sales	1.03x	Enterprise value / revenue.
EV/EBIT	11.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.4x	Enterprise value / EBITDA, when both are positive.
EV/FCF	11.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	11.2%	Free cash flow / market cap.
Earnings yield	6.9%	Net income / market cap (the inverse of P/E).
Dividend yield	2.1%	Dividends paid over the period / market cap.
Shareholder yield	2.1%	(Dividends paid + share buybacks) / market cap.

What was WOLVERINE WORLD WIDE INC /DE/'s revenue in fiscal 2024?

WOLVERINE WORLD WIDE INC /DE/ reported revenue of $1.87B for fiscal 2024, 6.8% higher than the year before.

Was WOLVERINE WORLD WIDE INC /DE/ profitable in fiscal 2024?

Yes. Net income was $95.8M, a net margin of 5.1%.

How much free cash flow did WOLVERINE WORLD WIDE INC /DE/ generate in fiscal 2024?

Cash from operations of $140.0M minus capital expenditures of $14.5M left free cash flow of $125.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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