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Wolverine World Wide
(NYSE:WWW)
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Rating:70Outperform
Price Target:
$23.00
▲(22.41% Upside)
Action:Reiterated
Date:08/17/26
The score is driven by improving operating performance and strong cash generation, reinforced by upbeat, raised guidance on the latest earnings call. Technicals are supportive with a clear move above key moving averages. Offsetting these strengths are balance-sheet leverage and ongoing tariff/freight margin headwinds, while valuation appears reasonable but not a standout.
Positive Factors
Cash generation
Sustained positive trailing‑twelve‑month free cash flow and solid cash conversion provide durable financial flexibility. This enables the company to fund marketing, e‑commerce and AI investments, sustain capex (~$20M guidance) and accelerate debt repayment without relying on volatile equity markets.
Negative Factors
Elevated leverage
A debt‑to‑equity ratio near 1.9 keeps capital structure relatively leveraged for a cyclical apparel/footwear business. Higher leverage limits flexibility to absorb demand shocks, constrains M&A or reinvestment, and increases sensitivity to rising interest costs (interest/other expense guidance ~ $23M).
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained positive trailing‑twelve‑month free cash flow and solid cash conversion provide durable financial flexibility. This enables the company to fund marketing, e‑commerce and AI investments, sustain capex (~$20M guidance) and accelerate debt repayment without relying on volatile equity markets.
Read all positive factors
Wolverine World Wide Key Performance Indicators (KPIs)
Any
Revenue by Segment
Shows sales performance across various business segments, indicating which segments are growing or declining and how the company is diversifying its revenue streams.
Shows sales performance across various business segments, indicating which segments are growing or declining and how the company is diversifying its revenue streams.
Data provided by:
The Fly
The FlyWolverine World Wide (WWW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.72B
Dividend Yield1.91%
Average Volume (3M)825.41K
Price to Earnings (P/E)16.1
Beta (1Y)1.82
Revenue Growth7.16%
EPS Growth24.85%
CountryUS
Employees3,050
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)1.30
Shares Outstanding82,066,340
10 Day Avg. Volume737,780
30 Day Avg. Volume825,409
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)3.65
Price to Sales (P/S)0.79
P/FCF Ratio12.23
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$24.40Price Target Upside29.86% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)1.62
Revenue Forecast (FY)$2.00B
Wolverine World Wide Business Overview & Revenue Model
Company Description
Wolverine World Wide, Inc. is a multinational enterprise specializing in the design, manufacturing, sourcing, marketing, licensing, and distribution of footwear, apparel, and accessories. Its operations span across the United States, Europe, the M...
How the Company Makes Money
Wolverine World Wide makes money primarily by selling branded footwear (and to a lesser extent, apparel and accessories) through two main routes: wholesale and direct-to-consumer (DTC). In wholesale, the company sells products in bulk to third-par...
Wolverine World Wide Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call was largely positive: results beat expectations with revenue and adjusted EPS upside, operating margin expansion, stronger balance sheet and upgraded full-year guidance. Key brands Merrell and Saucony drove broad-based momentum and Saucony’s outlook was raised materially. However, notable headwinds remain including tariff and freight pressure on gross margins, a muted DTC channel in places (partly by choice), a Sweaty Betty U.S. reset, and uneven performance across the Work Group. Management conveyed confidence in underlying brand health, inventory position, and the ability to support the raised outlook while acknowledging near-term volatility.Positive Updates
Revenue Beat and Growth
Second quarter revenue of $506 million exceeded the high end of outlook; reported revenue growth +7% year-over-year and +6% on a constant currency basis. Company has delivered 7 consecutive quarters of year-over-year growth.
Negative Updates
Tariff and Freight Headwinds Pressure Gross Margin
Consolidated gross margin was 46.5%, down 70 basis points year-over-year. Gross margin was pressured by an approximate 310 basis point unmitigated tariff headwind and a modest impact from elevated oil prices on freight costs; management estimates the unmitigated tariff impact for the year at roughly $50 million (reduced by ~$2M relative to prior assumption) and continues to pursue a potential $36M refund.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Beat and Growth
Second quarter revenue of $506 million exceeded the high end of outlook; reported revenue growth +7% year-over-year and +6% on a constant currency basis. Company has delivered 7 consecutive quarters of year-over-year growth.
Read all positive updates
Company Guidance
Management raised full‑year FY26 guidance to $1.98–$2.00B in revenue (midpoint ≈ +6.2% reported; ≈ +6.1% constant‑currency ex‑53rd week), with Active Group now expected to grow high single‑digits and Work Group roughly flat; brand guidance: Saucony raised to mid‑teens, Merrell mid‑single‑digits, Sweaty Betty down low‑single‑digits, Wolverine ≈ flat. Profitability targets were increased to ~46.9% gross margin (prior 46.4%) and ~9.9% adjusted operating margin (prior 9.5%), raising adjusted diluted EPS to $1.55–$1.65 (from $1.43–$1.58); operating free cash flow was lifted to $115–$130M (from $105–$120M), capex ~ $20M, interest & other ≈ $23M, and an effective tax rate ≈ 18%. Q3 guidance: revenue $495–$500M (~+5.8% reported; +6.5% constant‑currency), gross margin ≈ 47.4% (down 10 bps YoY), adjusted operating margin ≈ 10.4% and adjusted EPS $0.42–$0.45 (vs $0.36 LY). Assumptions include existing tariff rates through 2026, an unchanged FX benefit of ~$14M, and net debt of $443M (down $125M YoY).Wolverine World Wide Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
46
Neutral
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.95B | 1.87B | 1.75B | 2.24B | 2.68B | 2.41B |
| Gross Profit | 917.10M | 880.10M | 781.50M | 872.50M | 1.07B | 1.03B |
| EBITDA | 192.90M | 186.80M | 130.50M | -46.20M | -171.00M | 207.30M |
| Net Income | 108.30M | 95.80M | 47.90M | -39.60M | -188.30M | 68.60M |
Balance Sheet | ||||||
| Total Assets | 1.71B | 1.71B | 1.67B | 2.06B | 2.49B | 2.59B |
| Cash, Cash Equivalents and Short-Term Investments | 158.50M | 206.30M | 152.10M | 179.00M | 131.50M | 161.70M |
| Total Debt | 745.40M | 762.00M | 797.70M | 1.09B | 1.35B | 1.12B |
| Total Liabilities | 1.24B | 1.29B | 1.35B | 1.76B | 2.15B | 1.94B |
| Stockholders Equity | 449.20M | 408.00M | 307.30M | 278.60M | 320.60M | 629.60M |
Cash Flow | ||||||
| Free Cash Flow | 175.00M | 121.60M | 159.90M | 107.20M | -215.40M | 69.20M |
| Operating Cash Flow | 182.60M | 136.10M | 180.10M | 121.80M | -178.90M | 86.80M |
| Investing Cash Flow | -6.60M | -13.90M | 86.80M | 171.60M | 54.60M | -437.30M |
| Financing Cash Flow | -159.30M | -73.80M | -299.20M | -246.30M | 107.10M | 169.30M |
Wolverine World Wide Technical Analysis
Positive
18.79
Price Trends
18.44
Positive
17.56
Positive
17.37
Positive
Market Momentum
0.58
Negative
60.54
Neutral
85.83
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WWW, the sentiment is Positive. The current price of 18.79 is below the 20-day moving average (MA) of 19.74, above the 50-day MA of 18.44, and above the 200-day MA of 17.37, indicating a bullish trend. The MACD of 0.58 indicates Negative momentum. The RSI at 60.54 is Neutral, neither overbought nor oversold. The STOCH value of 85.83 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WWW.
Wolverine World Wide Risk Analysis
Wolverine World Wide disclosed 35 risk factors in its most recent earnings report. Wolverine World Wide reported the most risks in the "Macro & Political" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Wolverine World Wide Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $428.27M | 12.18 | 14.04% | 8.08% | -0.32% | 35.29% | |
73 Outperform | $350.55M | 12.18 | 11.38% | 1.57% | 9.24% | 54.03% | |
70 Outperform | $1.72B | 16.12 | 26.26% | 2.10% | 7.16% | 24.85% | |
68 Neutral | $5.85B | 10.47 | 43.41% | ― | -2.03% | 205.97% | |
64 Neutral | $3.37B | 22.81 | 16.05% | 1.96% | 18.33% | 56.39% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
50 Neutral | $457.49M | 1,362.00 | 0.05% | 2.38% | 4.95% | -100.25% |
* Consumer Cyclical Sector Average
WWW
Wolverine World Wide
20.96
-8.91
-29.84%
CROX
Crocs
122.11
35.82
41.51%
RCKY
Rocky Brands
46.79
19.88
73.88%
SHOO
Steven Madden
46.08
18.67
68.11%
WEYS
Weyco Group
44.84
17.38
63.30%
CAL
Caleres
13.62
-1.34
-8.95%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.