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Wolverine World Wide, Inc.

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Wolverine World Wide, Inc. • NYSE
$16.20 ▼ -0.49% (-0.08)
Market Cap $1.31 B
52w High $32.80
52w Low $9.58
Dividend Yield 0.40%
P/E 15.14
Volume 456.93K
Outstanding Shares 80.90M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $470.3M ▼ $183.6M ▲ $25.1M ▼ 5.337% ▼ $0.3 ▼ $41.2M ▼
Q2-2025 $474.2M ▲ $183.3M ▲ $26.8M ▲ 5.652% ▲ $0.32 ▲ $48.5M ▲
Q1-2025 $412.3M ▼ $175.1M ▼ $11.1M ▼ 2.692% ▼ $0.13 ▼ $27.3M ▼
Q4-2024 $494.7M ▲ $177.9M ▲ $24.6M ▲ 4.973% ▼ $0.3 ▲ $44.5M ▼
Q3-2024 $440.2M $164M $23.6M 5.361% $0.28 $45.1M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $133.9M ▼ $1.707B ▼ $1.316B ▼ $376.7M ▲
Q2-2025 $141M ▲ $1.808B ▲ $1.452B ▲ $344M ▲
Q1-2025 $106.5M ▼ $1.685B ▲ $1.364B ▲ $310.6M ▲
Q4-2024 $152.1M ▲ $1.669B ▼ $1.352B ▼ $307.3M ▲
Q3-2024 $140.2M $1.759B $1.462B $288.1M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $25.1M ▼ $33M ▼ $-1M ▲ $-33.6M ▼ $-7.1M ▼ $30.1M ▼
Q2-2025 $26.8M ▲ $44.6M ▲ $-4M ▲ $-11.3M ▼ $34.5M ▲ $41.2M ▲
Q1-2025 $12.2M ▼ $-83.8M ▼ $-7.9M ▲ $46.6M ▲ $-45.6M ▼ $-91.4M ▼
Q4-2024 $25.3M ▲ $82.4M ▼ $-8.3M ▼ $-60.6M ▲ $11.9M ▲ $74.4M ▼
Q3-2024 $24.3M $108.2M $5.2M $-121M $-8.1M $104.1M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Active Group
Active Group
 $330.00M ▲$330.00M ▲$360.00M ▲$350.00M ▼
Other Segments
Other Segments
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Work Group
Work Group
 $150.00M ▲$70.00M ▼$110.00M ▲$110.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Wolverine’s sales have been on a rollercoaster. Revenue rebounded strongly coming out of the pandemic, then dropped back meaningfully in the last two years as the company pruned brands and faced a tougher retail environment. Today the business is smaller than at its recent peak. Profitability has been inconsistent. The company swung between modest profits and notable losses, especially in the middle of the period, reflecting restructuring, portfolio changes, and margin pressure. Most recently, results have returned to a small profit, but with earnings still fragile and highly sensitive to changes in demand and costs. Overall, this is a business with solid gross margins but very thin profit after expenses, leaving little room for error.

Balance Sheet

Balance Sheet The balance sheet shows a company that has shrunk its size while still carrying meaningful debt. Total assets have trended down as Wolverine sold non-core businesses and likely reduced inventory and other assets. Debt remains high relative to the company’s equity base, which is relatively small. This points to a leveraged capital structure and limits financial flexibility. Cash on hand is modest, not dangerously low but not a large cushion either. The combination of high debt and thin profitability makes balance sheet discipline and ongoing debt reduction important watch-points.

Cash Flow

Cash Flow Cash generation has improved from the worst year in the period, when operations consumed cash rather than produced it. In the last couple of years, operating cash flow has turned positive again, and free cash flow is also positive, helped by relatively low capital spending. Even so, cash flow is not abundant. It appears adequate to support basic investment needs and some debt paydown, but not generous enough to comfortably finance aggressive growth or large shareholder returns without further improvement in performance. Sustained, stable cash flow will be key for managing leverage and funding the strategic transformation.

Competitive Edge

Competitive Edge Wolverine competes in a very crowded footwear and apparel space against powerful global brands and nimble niche players. Its strength lies in a portfolio of recognized names—such as Merrell, Saucony, Wolverine, and others—each targeting distinct consumer needs from work and safety to outdoor and performance running. This brand diversity gives the company reach across multiple price points and use cases, which can soften the blow when one segment slows. At the same time, intense competition, heavy promotion in the channel, and fashion risk keep pricing power limited. Recent divestitures of non-core brands should sharpen focus on the strongest labels, but the company still needs to consistently translate brand equity into profitable growth.

Innovation and R&D

Innovation and R&D Innovation is a genuine bright spot. Wolverine has a long legacy of technical footwear know-how, reflected in proprietary comfort, safety, cushioning, and traction technologies across its key brands. These features help differentiate products, support premium positioning, and foster loyalty among workers, outdoor enthusiasts, and runners who value performance. The new innovation hub in Boston and increased emphasis on consumer insights and digital tools suggest R&D is being organized more centrally and strategically, especially around Saucony and performance products. Licensing partnerships in select categories and a growing focus on sustainability (recycled materials, repair programs) can further extend the impact of innovation without overextending internal resources. The open question is execution speed—how quickly these initiatives can produce hit products and stronger margins.

Summary

Wolverine World Wide is in the middle of a significant reset: smaller than at its recent revenue peak, working through the financial aftereffects of past missteps, but anchored by well-known brands and real product innovation. Financially, the story is one of volatility: revenue that rose and then fell, margins that have swung from loss to modest profit, and a balance sheet with notable leverage and only a moderate cash cushion. Recent years show improving cash flow and a return to profitability, but on a narrow base that leaves performance exposed to economic and competitive pressures. Strategically, the company is simplifying its brand portfolio, pushing harder on innovation and digital, and leaning into its strongest labels in work, outdoor, and performance running. If the transformation succeeds, Wolverine could emerge as a more focused, more profitable footwear specialist. If it stumbles, high competition and leverage remain meaningful risks. Monitoring the consistency of earnings, the pace of debt reduction, and the traction of new products and core brands will be key to understanding how this transition is progressing.

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November 5, 2025 · 4:15 PM UTC

Wolverine Worldwide Appoints Justin Cupps as Work Group President

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November 5, 2025 · 6:30 AM UTC

Wolverine Worldwide Reports Third Quarter 2025 Results

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November 3, 2025 · 6:00 AM UTC

Wolverine Worldwide Releases 2024 Global Impact Report

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