Wolverine World Wide, Inc. (WWW) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-102.9%

-$0.62

vs $21.44 price

Levered DCF

$1.49

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.27

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	15.97×	38.76×	-17.43×	-4.61×	35.13×	-18.27×	22.8×	14.63×
P/B	3.65×	5.85×	2.53×	2.72×	3.77×	4.51×	3.74×	2.95×
P/S	0.79×	1.02×	0.31×	0.32×	0.98×	1.41×	1.26×	1.31×
EV / EBITDA	11.34×	18.73×	-45.36×	-12.22×	22.09×	-28.51×	17.6×	11.83×
Gross margin	47.0%	44.5%	38.9%	39.9%	42.6%	41.1%	40.6%	41.1%
Operating margin	8.0%	5.8%	-3.0%	-7.8%	6.4%	-7.7%	7.5%	11.2%
Net margin	5.1%	2.7%	-1.8%	-7.0%	2.8%	-7.6%	5.7%	8.9%
Current ratio	1.4×	1.29×	1.18×	1.14×	1.19×	2.23×	1.23×	1.83×
Debt / equity	1.87×	2.6×	3.9×	4.21×	1.78×	1.58×	1.28×	0.58×
Interest coverage	4.58×	2.37×	-1.07×	-4.41×	4.16×	-3.14×	5.7×	10.28×
Dividend yield	2.2%	1.8%	4.6%	3.8%	1.4%	1.3%	1.2%	1.0%
Payout ratio	34.8%	67.8%	-82.3%	-17.4%	48.8%	-24.5%	26.1%	14.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	23.5%	15.6%	-14.2%	-58.7%	10.9%	-24.4%	16.8%	20.2%
Return on invested capital	9.6%	6.8%	-1.3%	-8.4%	6.2%	-5.8%	7.2%	12.0%
Return on assets	5.6%	2.9%	-1.9%	-7.6%	2.7%	-6.4%	5.2%	9.2%
Free cash flow yield	8.2%	8.9%	15.2%	-24.7%	2.9%	11.8%	6.6%	2.6%
Earnings yield	6.4%	2.7%	-5.6%	-21.6%	2.9%	-5.4%	4.5%	6.8%
Enterprise value	$2B	$2.4B	$1.6B	$2.1B	$3.3B	$3.1B	$3.7B	$3.4B
Net debt / EBITDA	3.08×	4.95×	-25.53×	-7.13×	6.37×	-5.01×	3.83×	1.51×
Cash conversion cycle (days)	68	58	82	140	86	75	93	91