Wolverine World Wide (WWW) FY2019 results: revenue $2.3 billion, up 1.5% on the year
Wolverine World Wide Inc. (WWW) reported revenue of $2.3 billion for fiscal 2019, the year ended 28 December 2019, up 1.5% on the year before. Net income was $128 million, down 35.8%, and diluted earnings per share $1.44. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$2.3 billion
+1.5% on the year
FY2012FY2019
Operating margin
7.5%
11.2% a year earlier
FY2012FY2019
Net income
$128 million
-35.8% on the year
FY2012FY2019
Diluted EPS
$1.44
-29.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,274
2,239
2,350
+1.5%
Cost of revenue
1,350
1,318
1,427
+2.4%
Gross profit
924
921
914
+0.3%
Gross margin
40.6%
41.1%
38.9%
Selling, general and administrative
669
654
706
+2.3%
Operating income
171
252
31.6
-32.1%
Operating margin
7.5%
11.2%
1.3%
Pre-tax income
146
227
-10.6
-35.8%
Income tax
17.0
27.1
-9.9
-37.3%
Effective tax rate
11.7%
11.9%
n/a
Net income
128
200
0.3
-35.8%
Net margin
5.7%
8.9%
0.0%
Diluted EPS
$1.44
$2.05
$0.00
-29.8%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
223
97.5
203
+128.3%
Capital expenditure
34.4
21.7
32.4
+58.5%
Free cash flow
188
75.8
170
+148.3%
Free cash flow margin
8.3%
3.4%
7.2%
Cash from investing
-61.5
-22.2
-1.0
Cash from financing
-125
-404
-98.0
Depreciation and amortisation
32.7
31.5
37.2
+3.8%
Share-based compensation
24.5
31.2
25.4
-21.5%
Buybacks
319
175
51.5
+82.7%
Dividends paid
33.6
28.6
23.0
+17.5%
Dividend per share
$0.40
$0.32
$0.24
+25.0%
Diluted shares, weighted
87m
95m
95m
-8.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
767
986
950
-22.2%
Non-controlling interest
11.7
5.6
5.6
+108.9%
Debt
798
570
782
+40.0%
Operating lease liabilities
147
0.0
n/a
Other liabilities
756
621
662
+21.7%
Total liabilities and equity
2,480
2,183
2,399
+13.6%
Fixed assets
141
131
137
+7.7%
Goodwill
439
424
430
+3.4%
Intangible assets
77.8
71.9
77.0
+8.2%
Cash and equivalents
181
143
481
+26.2%
Receivables
331
361
271
-8.3%
Inventory
348
318
277
+9.6%
Other assets
962
734
726
+31.1%
Total assets
2,480
2,183
2,399
+13.6%
10-K for the year ended 28 December 2019, filed 26 February 2020: the filing.