# Wolverine World Wide, Inc. (WWW)

> Source: Nexqual · https://nexqual.com/WWW · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Wolverine World Wide, Inc. (WWW), nexqual.com/WWW" · informational, not investment advice.

**Price:** USD 20.68 (+2.83% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 20.11 · day 20.06–20.77 · 52w 13.47–27.73 · market cap $1.70B · NYQ

## Key facts
- Last four reported quarters (through Jul 4, 2026): revenue $1.95B, net income $108M (5.5% margin), free cash flow $175M (SEC filings).
- Valuation: P/E 15.7x (avg 27.2x at the last 2 fiscal year-ends), EV/EBITDA 11.1x, net debt $443M.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $1.0M; 1 not under a Rule 10b5-1 plan ($87K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.36 on a 1–5 scale) (11 analysts), mean target USD 24.3 (range 19–31).
- Total return with dividends: 1Y -23.5% vs S&P 500 +14.9%; 5Y -27.2% vs S&P 500 +80.3%.
- Next earnings: 2026-11-12, EPS estimate USD 0.46, revenue estimate $500M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.41B | $2.68B | $2.24B | $1.75B | $1.87B | $1.95B |
| Gross profit | $1.03B | $1.07B | $874M | $778M | $887M | — |
| Operating income | $156M | -$208M | -$66.8M | $97.5M | $150M | $170M |
| Net income | $68.6M | -$188M | -$38.5M | $45.2M | $95.8M | $108M |
| EPS (diluted) | $0.81 | -$2.37 | -$0.49 | $0.55 | $1.14 | — |
| Free cash flow | $69.2M | -$215M | $107M | $160M | $126M | $175M |
| Gross margin | 42.6% | 39.9% | 39.0% | 44.3% | 47.3% | — |
| Operating margin | 6.4% | -7.8% | -3.0% | 5.6% | 8.0% | 8.7% |
| Net margin | 2.8% | -7.0% | -1.7% | 2.6% | 5.1% | 5.5% |
| Revenue growth | +34.8% | +11.2% | -16.5% | -21.8% | +6.8% | — |
| Cash + short-term investments | $162M | $132M | $179M | $152M | $206M | — |
| Total debt | $967M | $1.16B | $921M | $648M | $622M | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 4, 2026)
P/E 15.7x · P/S 0.9x · EV/EBITDA 11.1x · EV/Sales 1.1x · P/FCF 9.7x · P/B 3.8x · FCF yield 10.31% · Earnings yield 6.38% · Dividend yield (paid, TTM) 1.98% · Net debt $443M · EV $2.14B
P/E at fiscal year-ends: Jan 2026 15.1x, Dec 2024 39.3x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-01 | Boromisa Jeffrey M | Director | 25,000 | $490K | 17.5% | Yes (adopted March 11, 2026) | Too little history (no open-market trades in 2024 or 2025) |
| 2026-07-13 | Boromisa Jeffrey M | Director | 25,000 | $454K | 14.9% | Yes (adopted March 11, 2026) | Too little history (no open-market trades in 2024 or 2025) |
| 2026-05-21 | Lauderback Brenda J | Director | 5,500 | $87K | 9.2% | No | Too little history (no open-market trades in 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.36 on a 1–5 scale), 11 analysts; mean target USD 24.3 (low 19, high 31).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-14 | UBS | Target raised | Buy | $29 → $31 |
| 2026-08-14 | Stifel | Target raised | Buy | $25 → $26 |
| 2026-08-14 | Baird | Target raised | Outperform | $24 → $26 |
| 2026-08-13 | Needham | Target raised | Buy | $21 → $24 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -23.5% | -27.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -23.6% | -6.1% |
| Volatility (annualized) | 55.7% | 55.6% |
| Max drawdown | -47.0% (Oct 2025→Nov 2025) | -79.7% (Nov 2021→Oct 2023) |

## Peers (Footwear & Accessories)
SHOO (Steven Madden, Ltd.) USD 44.42 -0.60% · BIRK (Birkenstock Holding plc) USD 33.68 +4.21% · CROX (Crocs, Inc.) USD 120.99 +2.11% · WEYS (Weyco Group, Inc.) USD 51.84 +2.25% · FOSL (Fossil Group, Inc.) USD 6.55 -2.96% · RCKY (Rocky Brands, Inc.) USD 47.64 +2.92%

## More
Full page: https://nexqual.com/WWW · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in WWW's own 10-K filed 2026-02-27 (https://www.sec.gov/Archives/edgar/data/110471/000162828026012614/www-20260103.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Designer Brands Inc. (DBI) | "On February 7, 2023 the Company entered into an Asset Purchase Agreement with Designer Brands, Inc. (the "Buyer") pursuant to which the Buyer agreed to purchase the global Keds® business." |

## Revenue by business segment (quarter ended 2026-07-04)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Active Group | $388.4M | 76.7% | +9.3% | $71.2M | 18.3% |
| Work Group | $105.8M | 20.9% | -1.6% | $16.7M | 15.8% |
| Other | $12.2M | 2.4% | +8.9% | $8.5M | 69.7% |
| Total revenue | $506.4M | 100% | — | $47.3M | 9.3% |

## Revenue by region (fiscal year ended 2026-01-03)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Non Us | $978.1M | 52.2% | +13.5% |
| United States | $896.2M | 47.8% | +0.3% |
| EMEA | $601.5M | 32.1% | +13.6% |
| Asia Pacific | $181.7M | 9.7% | +20.4% |
| Latin America | $111.7M | 6.0% | +13.4% |
| Canada | $83.2M | 4.4% | +0.7% |
| Total revenue | $1.87B | 100% | — |
The lines above cover 152.2% of total revenue.

## Company outlook (8-K filed 2026-08-13)

- "FULL-YEAR 2026 OUTLOOK The Company's outlook reflects the impact of foreign currency and excludes any benefit from potential tariff refunds."
- "For fiscal year 2026, the Company currently expects: • R evenue to be approximately $1.980 billion to $2.000 billion, representing growth of approximately 5.6% to 6.7% compared to 2025, constant currency growth of approximately 4.9% to 5.9%, and constant currency growth of approximately 5.6% to 6.6% excluding the impact of the 53rd week in 2025."
- "This compares to the previous outlook for revenue of approximately $1.960 billion to $1.985 billion. • Gross margin to be approximately 46.9%, down 40 basis points compared to 2025."
- "This compares to the previous outlook for gross margin of approximately 46.4%. • Operating margin to be approximately 9.5%, up 150 basis points compared to 2025, and adjusted operating margin to be approximately 9.9%, up 90 basis points compared to 2025."

Analysts expect $499.9M for the current quarter, -74.7% vs the guidance midpoint $1.97B. Source: https://www.sec.gov/Archives/edgar/data/110471/000162828026056455/earningsrelease2026-q2.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.46 | $0.39 | +16.6% | $499.9M | 10 |
| Next quarter (ends 2026-12-31) | $0.54 | $0.53 | +1.3% | $537.1M | 10 |
| Current fiscal year (ends 2026-12-31) | $1.64 | $1.55 | +5.9% | $2.00B | 11 |
| Next fiscal year (ends 2027-12-31) | $1.85 | $1.76 | +5.2% | $2.12B | 11 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-12): ±14.7%; last 8 reports averaged ±15.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 66.1% | ±14.7% |
| 2026-12-18 | 56 | 53.1% | ±16.6% |
| 2027-01-15 | 84 | 56.0% | ±21.2% |
| 2027-03-19 | 147 | 59.7% | ±29.4% |
| 2027-06-17 | 237 | 57.3% | ±35.2% |