Cash flow Wolverine World Wide, Inc.

Equities

WWW

US9780971035

Footwear

Market Closed - Nyse Other stock markets 04:00:02 2025-01-24 pm EST			5-day change	1st Jan Change
23.09 ^USD	+2.62%		+1.32%	+4.01%

Dec. 11	Stifel Upgrades Wolverine World Wide to Buy From Hold, Raises Price Target to $29 From $21	MT
Nov. 26	Wolverine Worldwide's Work Group Appoints Mike Maloney as Chief Product Officer	CI

543794727.6OizNZEp_s9qOr8kHKh6T5-i8zP00uFw3CLWTDZSXrU.u47gXNNOx7gOduwSf8IOKsXbiVWCqoNC8UmxP1MHGPPchItHwB2noVJbhw

Published financial data: WOLVERINE WORLD WIDE, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.27B	1.79B	2.41B	2.68B	2.24B
Total Revenues	2.27B	1.79B	2.41B	2.68B	2.24B
Cost of Goods Sold, Total	1.35B	1.06B	1.38B	1.61B	1.37B
Gross Profit	924M	736M	1.03B	1.07B	872M
Selling General & Admin Expenses, Total	669M	642M	825M	910M	854M
Other Operating Expenses	83.5M	11.1M	56.4M	33.7M	-10.4M
Other Operating Expenses, Total	753M	653M	881M	944M	843M
Operating Income	171M	83M	149M	126M	29.1M
Interest Expense, Total	-30M	-43.6M	-37.4M	-47.3M	-63.5M
Net Interest Expenses	-30M	-43.6M	-37.4M	-47.3M	-63.5M
Currency Exchange Gains (Loss)	1.2M	600K	-	-	-
Other Non Operating Income (Expenses)	3.8M	3.6M	3.4M	6.8M	-4.9M
EBT, Excl. Unusual Items	146M	43.6M	115M	85.8M	-39.3M
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-429M	-
Gain (Loss) On Sale Of Assets	-	-	-	90M	90.4M
Asset Writedown	-	-222M	-	-	-185M
Other Unusual Items	-	-5.5M	-34.3M	-	-
EBT, Incl. Unusual Items	146M	-184M	80.3M	-253M	-134M
Income Tax Expense	17M	-45.5M	13.3M	-63.8M	-95M
Earnings From Continuing Operations	129M	-139M	67M	-189M	-39.2M
Net Income to Company	129M	-139M	67M	-189M	-39.2M
Minority Interest	-400K	1.7M	1.6M	800K	-400K
Net Income - (IS)	128M	-137M	68.6M	-188M	-39.6M
Preferred Dividend and Other Adjustments	2.6M	800K	1.1M	600K	700K
Net Income to Common Incl Extra Items	126M	-138M	67.5M	-189M	-40.3M
Net Income to Common Excl. Extra Items	126M	-138M	67.5M	-189M	-40.3M
Per Share Items
Net EPS - Basic	1.48	-1.7	0.82	-2.37	-0.51
Basic EPS - Continuing Operations	1.48	-1.7	0.82	-2.37	-0.51
Basic Weighted Average Shares Outstanding	85.1M	81M	82.3M	79.7M	79.4M
Net EPS - Diluted	1.44	-1.7	0.81	-2.37	-0.51
Diluted EPS - Continuing Operations	1.44	-1.7	0.81	-2.37	-0.51
Diluted Weighted Average Shares Outstanding	87.2M	81M	83.3M	79.7M	79.4M
Normalized Basic EPS	1.07	0.36	0.89	0.68	-0.31
Normalized Diluted EPS	1.04	0.36	0.88	0.68	-0.31
Dividend Per Share	0.4	0.4	0.4	0.4	0.4
Payout Ratio	26.15	-24.54	48.83	-17.42	-82.32
Supplemental Items
EBITDA	204M	116M	182M	161M	64.2M
EBITA	180M	90.1M	157M	134M	36.3M
EBIT	171M	83M	149M	126M	29.1M
EBITDAR	248M	159M	223M	206M	117M
Effective Tax Rate - (Ratio)	11.65	24.71	16.56	25.23	70.79
Current Domestic Taxes	11.1M	1.3M	17.1M	26.7M	-2.3M
Current Foreign Taxes	12.5M	8.3M	15M	28.2M	1.3M
Total Current Taxes	23.6M	9.6M	32.1M	54.9M	-1M
Deferred Domestic Taxes	-7.8M	-56M	-18.9M	-57.8M	-88.4M
Deferred Foreign Taxes	1.2M	900K	100K	-60.9M	-5.6M
Total Deferred Taxes	-6.6M	-55.1M	-18.8M	-119M	-94M
Normalized Net Income	90.79M	28.95M	73.22M	54.42M	-24.96M
Non-Cash Pension Expense	100K	2.1M	7.1M	4M	-2.4M
Supplemental Operating Expense Items
Advertising Expense	119M	136M	195M	221M	169M
Selling and Marketing Expenses	-	136M	195M	221M	169M
Net Rental Expense, Total	44.3M	42.8M	41.6M	45.3M	52.8M
Imputed Operating Lease Interest Expense	13.72M	16M	12.38M	13.86M	22M
Imputed Operating Lease Depreciation	30.58M	26.8M	29.22M	31.44M	30.8M
Stock-Based Comp., Other (Total)	24.5M	28.9M	38.1M	33.4M	15.2M
Total Stock-Based Compensation	24.5M	28.9M	38.1M	33.4M	15.2M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	181M	347M	162M	132M	179M
Total Cash And Short Term Investments	181M	347M	162M	132M	179M
Accounts Receivable, Total	331M	268M	320M	242M	231M
Total Receivables	331M	268M	320M	242M	231M
Inventory	348M	243M	366M	745M	374M
Prepaid Expenses	107M	45.4M	56.9M	64.8M	75M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	-	-	-	82.1M	167M
Total Current Assets	967M	904M	904M	1.27B	1.03B
Gross Property Plant And Equipment	486M	464M	486M	547M	470M
Accumulated Depreciation	-184M	-197M	-219M	-236M	-255M
Net Property Plant And Equipment	302M	267M	267M	311M	214M
Long-term Investments	-	-	-	14.2M	1.8M
Goodwill	439M	442M	557M	485M	427M
Other Intangibles, Total	682M	455M	793M	341M	209M
Deferred Tax Assets Long-Term	2.9M	3.2M	1.8M	24.5M	116M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	87M	65.2M	64.4M	51.4M	68.9M
Total Assets	2.48B	2.14B	2.59B	2.49B	2.06B
Liabilities
Accounts Payable, Total	202M	185M	222M	272M	206M
Accrued Expenses, Total	172M	169M	257M	304M	275M
Short-term Borrowings	360M	-	225M	425M	305M
Current Portion of Long-Term Debt	12.5M	10M	10M	10M	10M
Current Portion of Leases	34.1M	34M	38.3M	39.1M	34.7M
Unearned Revenue Current, Total	7.2M	8.2M	6.8M	9.1M	6.8M
Other Current Liabilities	-	-	-	50.6M	32M
Total Current Liabilities	787M	406M	760M	1.11B	869M
Long-Term Debt	426M	712M	732M	723M	606M
Long-Term Leases	147M	130M	118M	154M	132M
Pension & Other Post Retirement Benefits	110M	147M	107M	72.9M	78.4M
Deferred Tax Liability Non Current	99M	35.5M	119M	35.3M	26.9M
Other Non Current Liabilities	132M	133M	106M	58.6M	49.9M
Total Liabilities	1.7B	1.56B	1.94B	2.15B	1.76B
Common Stock, Total	108M	110M	112M	112M	113M
Additional Paid In Capital	233M	253M	299M	325M	364M
Retained Earnings	1.26B	1.09B	1.13B	907M	835M
Treasury Stock	-736M	-764M	-810M	-891M	-891M
Comprehensive Income and Other	-102M	-131M	-98.9M	-133M	-142M
Total Common Equity	767M	561M	630M	321M	279M
Minority Interest	11.7M	11.6M	14.8M	18.4M	21.4M
Total Equity	778M	573M	644M	339M	300M
Total Liabilities And Equity	2.48B	2.14B	2.59B	2.49B	2.06B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	81.93M	82.48M	81.69M	78.93M	79.75M
ECS Total Common Shares Outstanding	81.15M	82.14M	82.03M	78.79M	79.55M
Book Value / Share	9.45	6.83	7.68	4.07	3.5
Tangible Book Value	-354M	-336M	-720M	-506M	-358M
Tangible Book Value Per Share	-4.37	-4.09	-8.77	-6.42	-4.49
Total Debt	980M	887M	1.12B	1.35B	1.09B
Net Debt	799M	539M	962M	1.22B	909M
Debt Equivalent of Unfunded Proj. Benefit Obligation	113M	151M	111M	76.8M	82.5M
Debt Equivalent Oper. Leases	354M	342M	333M	362M	422M
Minority Interest, Total (Incl. Fin. Div)	11.7M	11.6M	14.8M	18.4M	21.4M
Equity Method Investments, Total	-	-	-	8.1M	-
Account Code - Inventory Valuation	4	4	4	4	4
LIFO Reserve, Total	-11.4M	-7.5M	-8M	-	-
Inventories - Raw Materials, Total	6.2M	5.2M	11.4M	2M	2M
Inventories - Finished Goods, Total	342M	238M	354M	743M	372M
Land - (BS)	3.9M	3.9M	3.9M	3.9M	600K
Buildings, Total	123M	120M	122M	122M	110M
Machinery, Total	137M	135M	145M	170M	170M
Full Time Employees	4K	3.4K	4.4K	4.3K	4.1K
Accumulated Allowance for Doubtful Accounts (Supple)	12.1M	6.7M	4M	11.1M	18.3M
Order Backlog	974M	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	128M	-137M	68.6M	-188M	-39.6M
Depreciation & Amortization - CF	24.1M	25.7M	24.8M	26.7M	27.9M
Amortization of Goodwill and Intangible Assets - (CF)	8.6M	7.1M	8.4M	7.9M	7.2M
Depreciation & Amortization, Total	32.7M	32.8M	33.2M	34.6M	35.1M
(Gain) Loss From Sale Of Asset	-	-	-	-90M	-90.4M
Asset Writedown & Restructuring Costs	-300K	222M	-	429M	185M
Stock-Based Compensation (CF)	24.5M	28.9M	38.1M	33.4M	15.2M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	34.5M	-25.8M	35.3M	-123M	-152M
Change In Accounts Receivable	30.7M	64.8M	-49.2M	84.5M	2.8M
Change In Inventories	-23.8M	107M	-77.2M	-429M	286M
Change In Accounts Payable	-	-18.9M	23M	62.6M	-65.6M
Change In Income Taxes	3.6M	-500K	1.6M	2.4M	-2.3M
Change in Other Net Operating Assets	-7.8M	35.3M	13.4M	5M	-53.4M
Cash from Operations	223M	309M	86.8M	-179M	122M
Capital Expenditure	-34.4M	-10.3M	-17.6M	-36.5M	-14.6M
Sale of Property, Plant, and Equipment	-	200K	-	-	-
Cash Acquisitions	-15.1M	-5.5M	-417M	-	-
Divestitures	-	-	-	-	189M
Sale (Purchase) of Intangible assets	-	-	-	90M	-
Investment in Marketable and Equity Securities, Total	-8.5M	-3.5M	-	-2.8M	-
Other Investing Activities, Total	-3.5M	25.2M	-2.3M	3.9M	-2.7M
Cash from Investing	-61.5M	6.1M	-437M	54.6M	172M
Short Term Debt Issued, Total	235M	538M	660M	940M	623M
Long-Term Debt Issued, Total	-	471M	750M	-	-
Total Debt Issued	235M	1.01B	1.41B	940M	623M
Short Term Debt Repaid, Total	-	-898M	-435M	-740M	-743M
Long-Term Debt Repaid, Total	-7.5M	-184M	-730M	-10M	-118M
Total Debt Repaid	-7.5M	-1.08B	-1.16B	-750M	-861M
Issuance of Common Stock	12.2M	9.8M	17.1M	1.4M	100K
Repurchase of Common Stock	-336M	-45.8M	-53.7M	-89M	-5.8M
Common Dividends Paid	-33.6M	-33.6M	-33.5M	-32.8M	-32.6M
Common & Preferred Stock Dividends Paid	-33.6M	-33.6M	-33.5M	-32.8M	-32.6M
Other Financing Activities, Total	5.4M	-11.9M	-5.6M	37.5M	30.3M
Cash from Financing	-125M	-154M	169M	107M	-246M
Foreign Exchange Rate Adjustments	1M	5.6M	-4.5M	-9M	2M
Net Change in Cash	37.5M	167M	-186M	-26.2M	49.1M
Supplemental Items
Cash Interest Paid	32.4M	41.4M	34.6M	43M	63.5M
Cash Income Tax Paid (Refund)	23.2M	8.6M	27.8M	44.3M	27M
Levered Free Cash Flow	89.16M	287M	62.3M	-71.02M	185M
Unlevered Free Cash Flow	108M	314M	85.68M	-41.46M	225M
Change In Net Working Capital	21.7M	-211M	60.9M	242M	-171M
Net Debt Issued / Repaid	228M	-72.5M	245M	190M	-238M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.58	2.25	3.93	3.11	0.8
Return on Total Capital	6.43	3.22	5.76	4.57	1.18
Return On Equity %	14.56	-20.51	11.01	-38.46	-12.27
Return on Common Equity	14.37	-20.74	11.34	-39.76	-13.45
Margin Analysis
Gross Profit Margin %	40.63	41.07	42.65	39.87	38.9
SG&A Margin	29.44	35.82	34.16	33.91	38.07
EBITDA Margin %	8.95	6.47	7.53	5.99	2.86
EBITA Margin %	7.89	5.03	6.5	5	1.62
EBIT Margin %	7.52	4.63	6.15	4.7	1.3
Income From Continuing Operations Margin %	5.67	-7.74	2.77	-7.04	-1.75
Net Income Margin %	5.65	-7.64	2.84	-7.01	-1.77
Net Avail. For Common Margin %	5.54	-7.69	2.8	-7.04	-1.8
Normalized Net Income Margin	3.99	1.62	3.03	2.03	-1.11
Levered Free Cash Flow Margin	3.92	16.02	2.58	-2.65	8.27
Unlevered Free Cash Flow Margin	4.75	17.54	3.55	-1.54	10.04
Asset Turnover
Asset Turnover	0.98	0.78	1.02	1.06	0.98
Fixed Assets Turnover	10.51	6.3	9.04	9.29	8.54
Receivables Turnover (Average Receivables)	6.57	5.98	8.22	9.57	9.49
Inventory Turnover (Average Inventory)	4.05	3.57	4.55	2.91	2.45
Short Term Liquidity
Current Ratio	1.23	2.23	1.19	1.14	1.18
Quick Ratio	0.65	1.52	0.63	0.34	0.47
Operating Cash Flow to Current Liabilities	0.28	0.76	0.11	-0.16	0.14
Days Sales Outstanding (Average Receivables)	55.42	62.09	44.31	38.05	38.34
Days Outstanding Inventory (Average Inventory)	89.77	103.92	79.97	125.21	148.59
Average Days Payable Outstanding	53.31	75.55	49.15	45.11	87.14
Cash Conversion Cycle (Average Days)	91.88	90.45	75.13	118.15	99.79
Long Term Solvency
Total Debt/Equity	125.86	154.76	174.32	398.44	362.63
Total Debt / Total Capital	55.72	60.75	63.55	79.94	78.38
LT Debt/Equity	73.63	147.09	131.91	258.58	246.07
Long-Term Debt / Total Capital	32.6	57.73	48.08	51.88	53.19
Total Liabilities / Total Assets	68.61	73.19	75.08	86.4	85.46
EBIT / Interest Expense	5.7	1.9	3.97	2.67	0.46
EBITDA / Interest Expense