Wolverine World Wide (WWW) FY2020 results: revenue $1.8 billion, down 21.2% on the year
Wolverine World Wide Inc. (WWW) reported revenue of $1.8 billion for fiscal 2020, the year ended 2 January 2021, down 21.2% on the year before. Net income was -$137 million, and diluted earnings per share $-1.70. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$1.8 billion
-21.2% on the year
FY2013FY2020
Operating margin
-7.7%
7.5% a year earlier
FY2013FY2020
Net income
-$137 million
FY2013FY2020
Diluted EPS
-$1.70
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,791
2,274
2,239
-21.2%
Cost of revenue
1,056
1,350
1,318
-21.8%
Gross profit
736
924
921
-20.4%
Gross margin
41.1%
40.6%
41.1%
Selling, general and administrative
639
669
654
-4.5%
Operating income
-137
171
252
Operating margin
-7.7%
7.5%
11.2%
Pre-tax income
-184
146
227
Income tax
-45.5
17.0
27.1
Effective tax rate
n/a
11.7%
11.9%
Net income
-137
128
200
Net margin
-7.6%
5.7%
8.9%
Diluted EPS
-$1.70
$1.44
$2.05
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
309
223
97.5
+38.9%
Capital expenditure
10.3
34.4
21.7
-70.1%
Free cash flow
299
188
75.8
+58.8%
Free cash flow margin
16.7%
8.3%
3.4%
Cash from investing
6.1
-61.5
-22.2
Cash from financing
-154
-125
-404
Depreciation and amortisation
32.8
32.7
31.5
+0.3%
Share-based compensation
28.9
24.5
31.2
+18.0%
Buybacks
21.0
319
175
-93.4%
Dividends paid
33.6
33.6
28.6
0.0%
Dividend per share
$0.40
$0.40
$0.32
0.0%
Diluted shares, weighted
81m
87m
95m
-7.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
561
767
986
-26.8%
Non-controlling interest
11.6
11.7
5.6
-0.9%
Debt
722
798
570
-9.5%
Operating lease liabilities
130
147
0.0
-11.5%
Other liabilities
712
756
621
-5.9%
Total liabilities and equity
2,137
2,480
2,183
-13.8%
Fixed assets
125
141
131
-11.6%
Goodwill
442
439
424
+0.8%
Intangible assets
73.0
77.8
71.9
-6.2%
Cash and equivalents
347
181
143
+92.4%
Receivables
268
331
361
-19.0%
Inventory
243
348
318
-30.2%
Other assets
639
962
734
-33.6%
Total assets
2,137
2,480
2,183
-13.8%
10-K for the year ended 2 January 2021, filed 26 February 2021: the filing.