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. It operates through two segments: Active Group and Work Group. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots. It sources and markets a range of footwear and apparel styles, such as shoes, boots and sandals under the Bates, Cat, Chaco, Harley-Davidson, Hush Puppies, Hytest, Merrell, Saucony, Sperry, Keds, Sweaty Betty, and Wolverine brands; and licenses under the Stride Rite brand. The company markets Merrell and Wolverine branded apparel and accessories, as well as licenses its brands for use on non-footwear products, including the Hush Puppies apparel, eyewear, watches, socks, handbags, and plush toys; and Wolverine branded eyewear and gloves. In addition, the company markets pigskin leather under the Wolverine Leather division; sourcing division provides consulting services related to product development, production control, quality assurance, materials procurement, compliance, and other service; and multi-brand direct-to-consumer division includes retail stores that sell footwear and apparel of its brand portfolio and other brands. It sells its products to department stores, national chains, catalog and specialty retailers, independent retailers, uniform outlets, and mass merchant and government customers through retail stores, third-party licensees and distributors, and joint ventures; and operates brick and mortar retails stores, and e-commerce sites. The company was founded in 1883 and is headquartered in Rockford, Michigan.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.9B | $180M | $96M | $126M | 23.5% | 6.8% | 111.9% |
| 2024 | $1.8B | $127M | $45M | $160M | 14.4% | -21.8% | -217.4% |
| 2023 | $2.2B | $-34M | $-39M | $107M | -13.8% | -16.5% | -79.6% |
| 2022 | $2.7B | $-171M | $-188M | $-215M | -58.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,684.80 | 2,242.90 | 1,755 | 1,874.30 |
| Operating Revenue | - | 2,684.80 | 2,242.90 | 1,755 | 1,874.30 |
| Cost Of Revenue | - | 1,614.40 | 1,369 | 977 | 987.60 |
| Gross Profit | - | 1,070.40 | 873.90 | 778 | 886.70 |
| Operating Expense | - | 940.10 | 845.80 | 679.70 | 736.50 |
| Selling General And Administration | - | 906.40 | 856.20 | 690 | 729.90 |
| Total Expenses | - | 2,554.50 | 2,214.80 | 1,656.70 | 1,724.10 |
| Operating Income | - | 130.30 | 28.10 | 98.30 | 150.20 |
| Total Operating Income As Reported | - | -208.40 | 66.80 | -97.50 | -150.20 |
| EBITDA | - | -171 | -34.20 | 127 | 180.20 |
| Normalized EBITDA | - | 167.70 | 60.70 | 127.80 | 180.20 |
| EBIT | - | -205.60 | -69.30 | 100.80 | 154.30 |
| Interest Expense | - | 47.30 | 63.50 | 42.70 | 32.80 |
| Net Interest Income | - | -47.30 | -63.50 | -42.70 | -32.80 |
| Other Non Operating Income Expenses | - | 2.80 | -2.50 | 3.30 | 4.10 |
| Other Income Expense | - | -335.90 | -97.40 | 2.50 | 4.10 |
| Interest Expense Non Operating | - | 47.30 | 63.50 | 42.70 | 32.80 |
| Net Non Operating Interest Income Expense | - | -47.30 | -63.50 | -42.70 | -32.80 |
| Pretax Income | - | -252.90 | -132.80 | 58.10 | 121.50 |
| Tax Provision | - | -63.80 | -94.70 | 9.30 | 20.50 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -85.45 | -19.93 | -0.13 | 0 |
| Net Income Continuous Operations | - | -189.10 | -38.10 | 48.80 | 101 |
| Net Income From Continuing And Discontinued Operation | - | -188.30 | -38.50 | 45.20 | 95.80 |
| Net Income From Continuing Operation Net Minority Interest | - | -188.30 | -38.50 | 45.20 | 95.80 |
| Net Income | - | -188.30 | -38.50 | 45.20 | 95.80 |
| Net Income Common Stockholders | - | -188.90 | -39.20 | 43.60 | 93.10 |
| Net Income Including Noncontrolling Interests | - | -189.10 | -38.10 | 48.80 | 101 |
| Normalized Income | - | 64.95 | 36.47 | 45.87 | 95.80 |
| Diluted NI Availto Com Stockholders | - | -188.90 | -39.20 | 43.60 | 93.10 |
| Basic Average Shares | - | 78.79 | 79.55 | 80.33 | 81.19 |
| Diluted Average Shares | - | 79.70 | 79.55 | 80.33 | 81.70 |
| Reconciled Depreciation | - | 34.60 | 35.10 | 26.20 | 25.90 |
| Reconciled Cost Of Revenue | - | 1,614.40 | 1,369 | 977 | 987.60 |
| Total Unusual Items | - | -338.70 | -94.90 | -0.80 | 0 |
| Total Unusual Items Excluding Goodwill | - | -338.70 | -94.90 | -0.80 | 0 |
| Minority Interests | - | 0.80 | -0.40 | -3.60 | -5.20 |
| Special Income Charges | - | -338.70 | -94.90 | -0.80 | 0 |
| Gain On Sale Of Business | - | 90 | 90.40 | 8.50 | 0 |
| Other Special Charges | 34.30 | - | - | - | - |
| Impairment Of Capital Assets | - | 428.70 | 185.30 | 9.30 | 0 |
| Gain On Sale Of Ppe | 0 | 90 | - | - | - |
| Other Operating Expenses | - | 33.70 | -10.40 | -10.30 | 6.60 |
| Otherunder Preferred Stock Dividend | - | 0.60 | 0.70 | 1.60 | 2.70 |
| Average Dilution Earnings | 0 | - | - | - | - |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Wolverine World Wide, Inc.this co. | WWW | $1.3B | 13.63 | 3.20 | 23.5% | 10.33 |
| Olaplex Holdings, Inc. | OLPX | $1.4B | -148.20 | 1.56 | -1.1% | 15.77 |
| Winmark Corporation | WINA | $1.4B | 32.66 | - | -77.6% | 24.92 |
| Hyliion Holdings Corp. | HYLN | $1.4B | -23.76 | 7.08 | -29.8% | -22.68 |
| G-III Apparel Group, Ltd. | GIII | $1.4B |
| - |
| - |
| - |
| - |
| - |
| - |
| 20.07 |
| 0.77 |
| 3.8% |
| 8.77 |
| Dream Finders Homes, Inc. | DFH | $1.3B | 6.05 | 0.92 | 15.2% | 8.99 |
| The Wendy's Company | WEN | $1.3B | 7.79 | 10.95 | 140.6% | 9.78 |
| XPEL, Inc. | XPEL | $1.3B | 24.75 | 4.52 | 18.3% | 16.02 |
| National Vision Holdings, Inc. | EYE | $1.2B | 41.95 | 1.43 | 3.4% | 11.96 |
| Peer Median | - | 13.93 | 1.56 | 3.6% | 10.87 | |