Wolverine World Wide (WWW) FY2017 results: revenue $2.4 billion, down 5.8% on the year
Wolverine World Wide Inc. (WWW) reported revenue of $2.4 billion for fiscal 2017, the year ended 30 December 2017, down 5.8% on the year before. Net income was $300,000, down 99.7%, and diluted earnings per share $0.00. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2018.
Revenue
$2.4 billion
-5.8% on the year
FY2010FY2017
Operating margin
1.3%
6.6% a year earlier
FY2010FY2017
Net income
$300,000
-99.7% on the year
FY2010FY2017
Diluted EPS
$0.00
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,350
2,495
2,692
-5.8%
Cost of revenue
1,427
1,526
1,637
-6.5%
Gross profit
914
960
1,052
-4.7%
Gross margin
38.9%
38.5%
39.1%
Selling, general and administrative
706
754
816
-6.4%
Operating income
31.6
164
201
-80.7%
Operating margin
1.3%
6.6%
7.5%
Pre-tax income
-10.6
110
165
Income tax
-9.9
23.0
41.4
Effective tax rate
n/a
20.8%
25.2%
Net income
0.3
87.7
123
-99.7%
Net margin
0.0%
3.5%
4.6%
Diluted EPS
$0.00
$0.89
$1.20
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
203
296
216
-31.6%
Capital expenditure
32.4
55.3
46.4
-41.4%
Free cash flow
170
241
169
-29.3%
Free cash flow margin
7.2%
9.7%
6.3%
Cash from investing
-1.0
-38.4
-50.0
Cash from financing
-98.0
-79.5
-187
Depreciation and amortisation
37.2
43.5
48.7
-14.5%
Share-based compensation
25.4
22.8
18.7
+11.4%
Buybacks
51.5
52.7
92.6
-2.3%
Dividends paid
23.0
23.5
24.4
-2.1%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
95m
96m
100m
-0.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
950
966
964
-1.7%
Non-controlling interest
5.6
7.6
6.0
-26.3%
Debt
782
820
820
-4.6%
Other liabilities
662
637
645
+3.8%
Total liabilities and equity
2,399
2,432
2,434
-1.3%
Fixed assets
137
146
132
-6.4%
Goodwill
430
424
429
+1.3%
Intangible assets
77.0
83.8
97.3
-8.1%
Cash and equivalents
481
370
194
+30.1%
Receivables
271
263
299
+3.0%
Inventory
277
349
467
-20.6%
Other assets
726
796
817
-8.7%
Total assets
2,399
2,432
2,434
-1.3%
10-K for the year ended 30 December 2017, filed 27 February 2018: the filing.