Wolverine World Wide (WWW) FY2015 results: revenue $2.7 billion, down 2.5% on the year
Wolverine World Wide Inc. (WWW) reported revenue of $2.7 billion for fiscal 2015, the year ended 2 January 2016, down 2.5% on the year before. Net income was $123 million, down 7.7%, and diluted earnings per share $1.20. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2016.
Revenue
$2.7 billion
-2.5% on the year
FY2008FY2015
Operating margin
7.5%
8.3% a year earlier
FY2008FY2015
Net income
$123 million
-7.7% on the year
FY2008FY2015
Diluted EPS
$1.20
-7.7% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
2,692
2,761
2,691
-2.5%
Cost of revenue
1,637
1,674
1,619
-2.2%
Gross profit
1,052
1,086
1,064
-3.2%
Gross margin
39.1%
39.3%
39.6%
Selling, general and administrative
816
815
831
+0.1%
Operating income
201
230
192
-12.5%
Operating margin
7.5%
8.3%
7.1%
Pre-tax income
165
182
128
-9.3%
Income tax
41.4
47.6
26.7
-13.0%
Effective tax rate
25.2%
26.2%
20.9%
Net income
123
133
100
-7.7%
Net margin
4.6%
4.8%
3.7%
Diluted EPS
$1.20
$1.30
$0.99
-7.7%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
216
315
202
-31.5%
Capital expenditure
46.4
30.0
41.7
+54.7%
Free cash flow
169
285
161
-40.6%
Free cash flow margin
6.3%
10.3%
6.0%
Cash from investing
-50.0
-34.8
-44.7
Cash from financing
-187
-270
-113
Depreciation and amortisation
48.7
53.3
56.2
-8.6%
Share-based compensation
18.7
25.1
28.2
-25.5%
Buybacks
92.6
0.0
0.0
Dividends paid
24.4
24.0
23.7
+1.7%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
100m
100m
99m
-0.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
964
934
838
+3.2%
Non-controlling interest
6.0
4.5
3.8
+33.3%
Debt
820
901
1,150
-9.0%
Other liabilities
645
652
631
-1.2%
Total liabilities and equity
2,434
2,491
2,622
-2.3%
Fixed assets
132
137
152
-3.8%
Goodwill
429
439
445
-2.2%
Intangible assets
97.3
112
127
-13.2%
Cash and equivalents
194
224
214
-13.3%
Receivables
299
313
398
-4.4%
Inventory
467
414
428
+12.7%
Other assets
817
853
858
-4.3%
Total assets
2,434
2,491
2,622
-2.3%
10-K for the year ended 2 January 2016, filed 1 March 2016: the filing.