Wolverine World Wide (WWW) FY2016 results: revenue $2.5 billion, down 7.3% on the year
Wolverine World Wide Inc. (WWW) reported revenue of $2.5 billion for fiscal 2016, the year ended 31 December 2016, down 7.3% on the year before. Net income was $88 million, down 28.6%, and diluted earnings per share $0.89. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2017.
Revenue
$2.5 billion
-7.3% on the year
FY2009FY2016
Operating margin
6.6%
7.5% a year earlier
FY2009FY2016
Net income
$88 million
-28.6% on the year
FY2009FY2016
Diluted EPS
$0.89
-25.8% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
2,495
2,692
2,761
-7.3%
Cost of revenue
1,526
1,637
1,674
-6.8%
Gross profit
960
1,052
1,086
-8.7%
Gross margin
38.5%
39.1%
39.3%
Selling, general and administrative
754
816
815
-7.6%
Operating income
164
201
230
-18.5%
Operating margin
6.6%
7.5%
8.3%
Pre-tax income
110
165
182
-32.9%
Income tax
23.0
41.4
47.6
-44.4%
Effective tax rate
20.8%
25.2%
26.2%
Net income
87.7
123
133
-28.6%
Net margin
3.5%
4.6%
4.8%
Diluted EPS
$0.89
$1.20
$1.30
-25.8%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
296
216
315
+37.5%
Capital expenditure
55.3
46.4
30.0
+19.2%
Free cash flow
241
169
285
+42.5%
Free cash flow margin
9.7%
6.3%
10.3%
Cash from investing
-38.4
-50.0
-34.8
Cash from financing
-79.5
-187
-270
Depreciation and amortisation
43.5
48.7
53.3
-10.7%
Share-based compensation
22.8
18.7
25.1
+21.9%
Buybacks
52.7
92.6
0.0
-43.1%
Dividends paid
23.5
24.4
24.0
-3.7%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
96m
100m
100m
-3.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
966
964
934
+0.3%
Non-controlling interest
7.6
6.0
4.5
+26.7%
Debt
820
820
901
+0.0%
Other liabilities
637
645
652
-1.1%
Total liabilities and equity
2,432
2,434
2,491
-0.1%
Fixed assets
146
132
137
+11.0%
Goodwill
424
429
439
-1.1%
Intangible assets
83.8
97.3
112
-13.9%
Cash and equivalents
370
194
224
+90.5%
Receivables
263
299
313
-11.9%
Inventory
349
467
414
-25.3%
Other assets
796
817
853
-2.6%
Total assets
2,432
2,434
2,491
-0.1%
10-K for the year ended 31 December 2016, filed 28 February 2017: the filing.