Wolverine World Wide (WWW) FY2018 results: revenue $2.2 billion, down 4.7% on the year
Wolverine World Wide Inc. (WWW) reported revenue of $2.2 billion for fiscal 2018, the year ended 29 December 2018, down 4.7% on the year before. Net income was $200 million, up 66600.0%, and diluted earnings per share $2.05. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$2.2 billion
-4.7% on the year
FY2011FY2018
Operating margin
11.2%
1.3% a year earlier
FY2011FY2018
Net income
$200 million
+66,600.0% on the year
FY2011FY2018
Diluted EPS
$2.05
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,239
2,350
2,495
-4.7%
Cost of revenue
1,318
1,427
1,526
-7.6%
Gross profit
921
914
960
+0.8%
Gross margin
41.1%
38.9%
38.5%
Selling, general and administrative
654
706
754
-7.4%
Operating income
252
31.6
164
+697.2%
Operating margin
11.2%
1.3%
6.6%
Pre-tax income
227
-10.6
110
Income tax
27.1
-9.9
23.0
Effective tax rate
11.9%
n/a
20.8%
Net income
200
0.3
87.7
+66,600.0%
Net margin
8.9%
0.0%
3.5%
Diluted EPS
$2.05
$0.00
$0.89
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
97.5
203
296
-51.9%
Capital expenditure
21.7
32.4
55.3
-33.0%
Free cash flow
75.8
170
241
-55.5%
Free cash flow margin
3.4%
7.2%
9.7%
Cash from investing
-22.2
-1.0
-38.4
Cash from financing
-404
-98.0
-79.5
Depreciation and amortisation
31.5
37.2
43.5
-15.3%
Share-based compensation
31.2
25.4
22.8
+22.8%
Buybacks
175
51.5
52.7
+239.2%
Dividends paid
28.6
23.0
23.5
+24.3%
Dividend per share
$0.32
$0.24
$0.24
+33.3%
Diluted shares, weighted
95m
95m
96m
-0.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
986
950
966
+3.8%
Non-controlling interest
5.6
5.6
7.6
0.0%
Debt
570
782
820
-27.1%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
621
662
637
-6.1%
Total liabilities and equity
2,183
2,399
2,432
-9.0%
Fixed assets
131
137
146
-4.2%
Goodwill
424
430
424
-1.3%
Intangible assets
71.9
77.0
83.8
-6.6%
Cash and equivalents
143
481
370
-70.2%
Receivables
361
271
263
+33.1%
Inventory
318
277
349
+14.8%
Other assets
734
726
796
+1.0%
Total assets
2,183
2,399
2,432
-9.0%
10-K for the year ended 29 December 2018, filed 26 February 2019: the filing.