Wolverine World Wide (WWW) FY2013 results: revenue $2.7 billion, up 64.0% on the year
Wolverine World Wide Inc. (WWW) reported revenue of $2.7 billion for fiscal 2013, the year ended 28 December 2013, up 64.0% on the year before. Net income was $100 million, up 24.4%, and diluted earnings per share $0.99. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$2.7 billion
+64.0% on the year
FY2008FY2013
Operating margin
7.1%
6.9% a year earlier
FY2008FY2013
Net income
$100 million
+24.4% on the year
FY2008FY2013
Diluted EPS
$0.99
+21.5% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
2,691
1,641
1,409
+64.0%
Cost of revenue
1,619
1,008
852
+60.6%
Gross profit
1,064
628
557
+69.5%
Gross margin
39.6%
38.3%
39.5%
Selling, general and administrative
831
482
387
+72.4%
Operating income
192
114
170
+69.1%
Operating margin
7.1%
6.9%
12.1%
Interest expense
n/a
14.6
1.4
Pre-tax income
128
94.2
169
+35.6%
Income tax
26.7
13.4
45.6
+99.0%
Effective tax rate
20.9%
14.2%
27.0%
Net income
100
80.7
123
+24.4%
Net margin
3.7%
4.9%
8.7%
Diluted EPS
$0.99
$0.81
$1.24
+21.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
202
91.6
78.8
+120.8%
Capital expenditure
41.7
14.9
19.4
+179.9%
Free cash flow
161
76.7
59.4
+109.3%
Free cash flow margin
6.0%
4.7%
4.2%
Cash from investing
-44.7
-1,246
-22.6
Cash from financing
-113
1,183
-62.3
Depreciation and amortisation
56.2
27.7
15.9
+102.9%
Share-based compensation
28.2
15.0
14.1
+88.2%
Buybacks
0.0
2.4
67.4
Dividends paid
23.7
23.6
22.7
+0.4%
Dividend per share
$0.24
$0.12
n/a
+100.0%
Diluted shares, weighted
99m
97m
97m
+2.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
838
642
579
+30.4%
Non-controlling interest
3.8
1.3
n/a
+192.3%
Debt
1,150
1,250
0.5
-8.0%
Other liabilities
631
721
273
-12.5%
Total liabilities and equity
2,622
2,614
852
+0.3%
Fixed assets
152
150
78.5
+1.5%
Goodwill
445
460
38.9
-3.2%
Intangible assets
127
153
1.2
-17.4%
Cash and equivalents
214
171
140
+25.0%
Receivables
398
354
220
+12.6%
Inventory
428
466
232
-8.2%
Other assets
858
860
141
-0.3%
Total assets
2,622
2,614
852
+0.3%
10-K for the year ended 28 December 2013, filed 25 February 2014: the filing.