NYSE:WWW

Stock Analysis Report

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Executive Summary

Wolverine World Wide, Inc. designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. More Details


Snowflake Analysis

Reasonable growth potential second-rate dividend payer.


Similar Companies

Share Price & News

How has Wolverine World Wide's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: WWW is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: WWW's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

1.6%

WWW

3.0%

US Luxury

1.5%

US Market


1 Year Return

-6.7%

WWW

27.6%

US Luxury

22.3%

US Market

Return vs Industry: WWW underperformed the US Luxury industry which returned 27.5% over the past year.

Return vs Market: WWW underperformed the US Market which returned 22.1% over the past year.


Shareholder returns

WWWIndustryMarket
7 Day1.6%3.0%1.5%
30 Day5.4%12.8%8.8%
90 Day19.1%23.8%10.8%
1 Year-5.1%-6.7%28.9%27.6%25.1%22.3%
3 Year7.2%3.1%83.6%75.5%49.5%39.6%
5 Year85.7%74.8%91.0%78.5%105.8%83.3%

Long-Term Price Volatility Vs. Market

How volatile is Wolverine World Wide's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Wolverine World Wide undervalued compared to its fair value and its price relative to the market?

77.17x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: WWW ($30.62) is trading above our estimate of fair value ($14.63)

Significantly Below Fair Value: WWW is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: WWW is poor value based on its PE Ratio (77.2x) compared to the US Luxury industry average (20.8x).

PE vs Market: WWW is poor value based on its PE Ratio (77.2x) compared to the US market (19.4x).


Price to Earnings Growth Ratio

PEG Ratio: WWW is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: WWW is overvalued based on its PB Ratio (3.3x) compared to the US Luxury industry average (1.6x).


Next Steps

Future Growth

How is Wolverine World Wide forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

46.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: WWW's forecast earnings growth (46.4% per year) is above the savings rate (2.2%).

Earnings vs Market: WWW's earnings (46.4% per year) are forecast to grow faster than the US market (21.9% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: WWW's revenue (13.2% per year) is forecast to grow faster than the US market (10.2% per year).

High Growth Revenue: WWW's revenue (13.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: WWW's Return on Equity is forecast to be low in 3 years time (19.7%).


Next Steps

Past Performance

How has Wolverine World Wide performed over the past 5 years?

2.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: WWW has a large one-off loss of $25.1M impacting its September 26 2020 financial results.

Growing Profit Margin: WWW's current net profit margins (1.7%) are lower than last year (7.2%).


Past Earnings Growth Analysis

Earnings Trend: WWW's earnings have grown by 2.5% per year over the past 5 years.

Accelerating Growth: WWW's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: WWW had negative earnings growth (-80.2%) over the past year, making it difficult to compare to the Luxury industry average (-43.6%).


Return on Equity

High ROE: WWW's Return on Equity (4.2%) is considered low.


Next Steps

Financial Health

How is Wolverine World Wide's financial position?


Financial Position Analysis

Short Term Liabilities: WWW's short term assets ($1.0B) exceed its short term liabilities ($560.0M).

Long Term Liabilities: WWW's short term assets ($1.0B) do not cover its long term liabilities ($1.2B).


Debt to Equity History and Analysis

Debt Level: WWW's debt to equity ratio (114.5%) is considered high.

Reducing Debt: WWW's debt to equity ratio has increased from 80.8% to 114.5% over the past 5 years.

Debt Coverage: WWW's debt is well covered by operating cash flow (39%).

Interest Coverage: WWW's interest payments on its debt are not well covered by EBIT (2.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Wolverine World Wide current dividend yield, its reliability and sustainability?

1.31%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: WWW's dividend (1.31%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.49%).

High Dividend: WWW's dividend (1.31%) is low compared to the top 25% of dividend payers in the US market (4.1%).


Stability and Growth of Payments

Stable Dividend: WWW's dividends per share have been stable in the past 10 years.

Growing Dividend: WWW's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (100.8%), WWW's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: WWW's dividends in 3 years are forecast to be well covered by earnings (16.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.2yrs

Average management tenure


CEO

Blake Krueger (66 yo)

13.67yrs

Tenure

US$9,427,274

Compensation

Mr. Blake W. Krueger has been the Chief Executive Officer of Wolverine World Wide, Inc. since April 19, 2007 and has been its Chairman since January 01, 2010. Mr. Krueger served as President of Wolverine W...


CEO Compensation Analysis

Compensation vs Market: Blake's total compensation ($USD9.43M) is above average for companies of similar size in the US market ($USD5.19M).

Compensation vs Earnings: Blake's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Blake Krueger
Chairman of the Board & CEO13.67yrsUS$9.43m1.11%
$ 27.9m
Michael Stornant
Senior VP5.5yrsUS$3.17m0.22%
$ 5.6m
Michael Jeppesen
President of Global Operations Groupno dataUS$2.24m0.056%
$ 1.4m
James Zwiers
Executive Vice President3.83yrsUS$2.87m0.16%
$ 3.9m
Brendan Hoffman
President & Director0.25yrno datano data
Michael Harris
Vice President of Corporate Financeno datano datano data
Kyle Hanson
Senior VP2.5yrsno data0.017%
$ 435.0k
Amy Klimek
Senior Vice President of Global Human Resources4.58yrsno data0.051%
$ 1.3m
Onder Ors
Managing Director of Europe Middle East and Africa Operations9.92yrsno datano data
Christopher Hufnagel
Global Brand President of Merrell1.25yrsno data0.090%
$ 2.3m
Angelo Ng
Chief Merchant Officer1.17yrsno datano data
Stephen Palmer
President of the Cat Footwear European Operations17.08yrsno datano data

4.2yrs

Average Tenure

52.5yo

Average Age

Experienced Management: WWW's management team is considered experienced (4.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Blake Krueger
Chairman of the Board & CEO13.67yrsUS$9.43m1.11%
$ 27.9m
Brendan Hoffman
President & Director0.25yrno datano data
Michael Volkema
Independent Director15yrsUS$254.51k0.012%
$ 306.1k
William Gerber
Independent Director12.83yrsUS$254.51k0.018%
$ 461.9k
Jeffrey Boromisa
Independent Director14.42yrsUS$249.51k0.071%
$ 1.8m
David Kollat
Lead Independent Director13.92yrsUS$305.01k0%
$ 0
Brenda Lauderback
Independent Director17.08yrsUS$237.01k0.022%
$ 559.9k
Gina Boswell
Independent Director7yrsUS$234.01k0.0098%
$ 247.5k
Nicholas Long
Independent Director9.42yrsUS$257.33k0.0066%
$ 166.6k
David McCreight
Independent Director1.58yrsUS$184.88k0.0046%
$ 115.9k
Roxane Divol
Independent Director6.17yrsUS$237.01k0.0098%
$ 247.5k

10.9yrs

Average Tenure

64yo

Average Age

Experienced Board: WWW's board of directors are seasoned and experienced ( 10.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: WWW insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Wolverine World Wide, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Wolverine World Wide, Inc.
  • Ticker: WWW
  • Exchange: NYSE
  • Founded: 1883
  • Industry: Footwear
  • Sector: Consumer Durables
  • Market Cap: US$2.513b
  • Shares outstanding: 82.07m
  • Website: https://www.wolverineworldwide.com

Number of Employees


Location

  • Wolverine World Wide, Inc.
  • 9341 Courtland Drive NE
  • Rockford
  • Michigan
  • 49351
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
WWWNYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1968

Biography

Wolverine World Wide, Inc. designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Can...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/05 00:00
End of Day Share Price2020/12/04 00:00
Earnings2020/09/26
Annual Earnings2019/12/28


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.