Latest Ratios: P/E Ratio 16.8x · EV/EBITDA 11.6x · ROE 25.9%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.6B | $1.5B | $1.8B | $706M | $871M | $2.4B | $2.5B | $2.9B | $3.0B | $3.1B | $2.1B |
| Enterprise Value | $2.1B | $2.0B | $2.5B | $1.6B | $2.1B | $3.4B | $3.1B | $3.7B | $3.5B | $3.4B | $2.6B |
| P/E Ratio → | 16.76 | 15.97 | 38.76 | — | — | 35.57 | — | 23.27 | 15.11 | 31880.00 | 24.66 |
| P/S Ratio | 0.84 | 0.79 | 1.03 | 0.31 | 0.32 | 0.99 | 1.41 | 1.29 | 1.35 | 1.30 | 0.85 |
| P/B Ratio | 3.69 | 3.52 | 5.71 | 2.35 | 2.57 | 3.72 | 4.42 | 3.78 | 3.04 | 3.19 | 2.17 |
| P/FCF | 12.88 | 12.23 | 11.29 | 6.58 | — | 34.68 | 8.47 | 15.63 | 39.97 | 17.98 | 8.85 |
| P/OCF | 11.51 | 10.93 | 10.03 | 5.80 | — | 27.65 | 8.19 | 13.22 | 31.07 | 15.11 | 7.20 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.09 | 1.40 | 0.72 | 0.78 | 1.39 | 1.71 | 1.65 | 1.54 | 1.43 | 1.04 |
| EV / EBITDA | 11.62 | 11.18 | 19.27 | — | — | 13.70 | — | 13.03 | 11.57 | 34.90 | 12.70 |
| EV / EBIT | 14.13 | 13.24 | 23.50 | — | — | 28.56 | — | 21.27 | 13.72 | 156.47 | 17.78 |
| EV / FCF | — | 16.80 | 15.33 | 15.06 | — | 48.58 | 10.28 | 19.88 | 45.61 | 19.75 | 10.72 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.0% | 47.0% | 44.5% | 38.9% | 39.9% | 42.6% | 41.1% | 40.6% | 41.1% | 38.9% | 38.5% |
| Operating Margin | 8.0% | 8.0% | 5.8% | -3.0% | -7.8% | 6.4% | -7.7% | 7.5% | 11.2% | 1.0% | 6.4% |
| Net Profit Margin | 5.1% | 5.1% | 2.7% | -1.8% | -7.0% | 2.8% | -7.6% | 5.7% | 8.9% | 0.0% | 3.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 25.9% | 25.9% | 15.5% | -12.4% | -38.3% | 11.3% | -20.3% | 14.5% | 20.4% | 0.0% | 9.0% |
| ROA | 5.7% | 5.7% | 2.6% | -1.7% | -7.4% | 2.9% | -5.9% | 5.5% | 8.7% | 0.0% | 3.6% |
| ROIC | 11.6% | 11.6% | 7.0% | -3.7% | -9.9% | 8.6% | -7.6% | 8.5% | 14.1% | 1.3% | 7.9% |
| ROCE | 12.9% | 12.9% | 8.7% | -5.3% | -13.0% | 8.8% | -8.0% | 10.1% | 13.4% | 1.2% | 7.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.80 | 1.80 | 2.52 | 3.63 | 3.98 | 1.74 | 1.55 | 1.26 | 0.57 | 0.81 | 0.84 |
| Debt / EBITDA | 4.17 | 4.17 | 6.27 | — | — | 4.58 | — | 3.41 | 1.91 | 8.12 | 4.03 |
| Net Debt / Equity | — | 1.31 | 2.04 | 3.03 | 3.60 | 1.49 | 0.94 | 1.03 | 0.43 | 0.31 | 0.46 |
| Net Debt / EBITDA | 3.04 | 3.04 | 5.08 | — | — | 3.92 | — | 2.78 | 1.43 | 3.13 | 2.22 |
| Debt / FCF | — | 4.57 | 4.04 | 8.48 | — | 13.90 | 1.81 | 4.25 | 5.64 | 1.77 | 1.87 |
| Interest Coverage | 4.70 | 4.70 | 2.44 | -1.11 | -4.35 | 3.15 | -3.22 | 5.86 | 10.28 | 0.67 | 4.18 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.40 | 1.40 | 1.29 | 1.18 | 1.14 | 1.19 | 2.23 | 1.23 | 1.83 | 2.97 | 3.09 |
| Quick Ratio | 0.87 | 0.87 | 0.84 | 0.75 | 0.47 | 0.71 | 1.63 | 0.79 | 1.16 | 2.20 | 2.05 |
| Cash Ratio | 0.40 | 0.40 | 0.29 | 0.21 | 0.12 | 0.21 | 0.86 | 0.23 | 0.30 | 1.33 | 1.11 |
| Asset Turnover | — | 1.10 | 1.05 | 1.09 | 1.08 | 0.93 | 0.84 | 0.92 | 1.03 | 0.98 | 1.03 |
| Inventory Turnover | 3.63 | 3.63 | 4.05 | 3.67 | 2.17 | 3.79 | 4.34 | 3.88 | 4.15 | 5.19 | 4.40 |
| Days Sales Outstanding | — | 31.57 | 43.55 | 37.56 | 32.86 | 48.31 | 54.68 | 53.17 | 58.88 | 42.14 | 38.52 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.1% | 2.2% | 1.8% | 4.6% | 3.8% | 1.4% | 1.3% | 1.1% | 0.9% | 0.8% | 1.1% |
| Payout Ratio | 34.8% | 34.8% | 67.8% | — | — | 48.8% | — | 26.1% | 14.3% | 7666.7% | 26.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.0% | 6.3% | 2.6% | — | — | 2.8% | — | 4.3% | 6.6% | 0.0% | 4.1% |
| FCF Yield | 7.8% | 8.2% | 8.9% | 15.2% | — | 2.9% | 11.8% | 6.4% | 2.5% | 5.6% | 11.3% |
| Buyback Yield | 0.9% | 1.0% | 0.0% | 0.0% | 9.3% | 1.7% | 0.8% | 10.8% | 5.8% | 1.7% | 2.5% |
| Total Shareholder Yield | 3.1% | 3.2% | 1.8% | 4.6% | 13.1% | 3.0% | 2.2% | 12.0% | 6.7% | 2.4% | 3.6% |
| Shares Outstanding | — | $82M | $80M | $79M | $80M | $83M | $81M | $87M | $95M | $96M | $97M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying WWW stock.
Wolverine World Wide, Inc.'s current P/E ratio is 16.8x. The historical average is 24.0x. This places it at the 42th percentile of its historical range.
Wolverine World Wide, Inc.'s current EV/EBITDA is 11.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.7x.
Wolverine World Wide, Inc.'s return on equity (ROE) is 25.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 10.7%.
Based on historical data, Wolverine World Wide, Inc. is trading at a P/E of 16.8x. This is at the 42th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Wolverine World Wide, Inc.'s current dividend yield is 2.13% with a payout ratio of 34.8%.
Wolverine World Wide, Inc. has 47.0% gross margin and 8.0% operating margin.
Wolverine World Wide, Inc.'s Debt/EBITDA ratio is 4.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Goodwill impairment risk
Metrics are mathematically derived from official filings.
Valuation Reflects Turnaround but Lacks Growth Premium
At a forward P/E of 14.84 and EV/EBITDA of 9.78, WWW trades at a significant discount to high-growth peers like Deckers, suggesting the market is pricing in a modest recovery rather than a sustained growth reacceleration.
The current valuation multiples appear to reflect a company in the early stages of a turnaround, not a high-growth compounder. The P/E of 17.31 is below the peer median, and the P/S of 0.86 indicates the market assigns minimal value to each dollar of revenue, likely due to the conglomerate structure and mixed brand portfolio. This valuation implies the market expects only modest margin expansion and is not pricing in the full potential of the 'Work' segment's resilience or a successful DTC pivot.
Gross Margin Stabilization Masks Underlying Earnings Power
Gross margin has stabilized near 47% after a trough, but operating margin of 9.3% in Q2 2026 remains below historical peaks, suggesting the turnaround is still in its early phases of translating revenue growth into bottom-line profit.
The improvement in gross margin from 43.1% in Q2 2024 to 46.5% in Q2 2026 indicates better pricing discipline and a more favorable product mix, as noted in prior analysis. However, the operating margin of 9.3% is still constrained by what appears to be a high fixed-cost structure in SG&A. The net margin of 6.2% is a more accurate reflection of true earning power after accounting for interest and taxes, and its recovery from negative territory is a positive signal, but it remains below the double-digit levels seen at more focused peers like Boot Barn.
ROIC Recovery Driven by Margin, Not Efficiency
ROIC has recovered from negative territory to 3.3% in Q2 2026, but this remains well below the cost of capital, indicating the business is not yet creating value for shareholders on an economic basis.
The recovery in ROIC from -0.2% in Q1 2024 to 3.3% in Q2 2026 is driven almost entirely by the improvement in operating margins, as asset turnover has only marginally increased from 0.20 to 0.30. This suggests the turnaround is focused on profitability rather than capital efficiency. The ROE of 6.9% is similarly low and is being artificially inflated by the high leverage (D/E of 1.59), meaning the underlying return on tangible equity is likely even weaker.
Working Capital Volatility Obscures Core Efficiency
The cash conversion cycle has improved dramatically from 120 days in Q1 2024 to 41 days in Q2 2026, but this appears driven by lumpy working capital releases rather than a sustainable structural improvement in operational efficiency.
The sharp reduction in the CCC is primarily due to a significant decrease in Days Inventory Outstanding (DIO) from 153 to 92 days, which aligns with the sector-wide inventory liquidation. However, Days Sales Outstanding (DSO) remains elevated at 37 days, and Days Payable Outstanding (DPO) has also decreased, suggesting the company is paying suppliers faster. This combination indicates the CCC improvement may be a one-time working capital release rather than a sign of improved supplier or customer leverage, and the volatility in FCF margins (from -18.6% to +16.6%) confirms this instability.
Deleveraging Trajectory Improves Debt Serviceability
The debt-to-equity ratio has improved from 3.92 to 1.59 over ten quarters, and interest coverage has risen to 6.75x, indicating a significantly more comfortable debt service position and reduced refinancing risk.
The deleveraging has been substantial, with total debt reduced by approximately $255 million from its peak. The improvement in the interest coverage ratio from a negative -0.19x in Q1 2024 to 6.75x in Q2 2026 is a critical positive development, as it moves the company from a position of distress to one where debt service is well-covered by operating earnings. However, the D/E of 1.59 is still elevated compared to peers like Boot Barn (0.59), and the high goodwill balance means this leverage is underpinned by intangible assets.
The Misleading Signal of the Current Ratio
The current ratio of 1.55 appears healthy, but it is misleading for WWW's business model because it is inflated by a large, slow-moving inventory balance that may not be readily convertible to cash.
For a footwear company with a wholesale-heavy model, the current ratio is a poor measure of true liquidity. The quick ratio of 0.98, which excludes inventory, provides a more accurate picture and shows the company's ability to cover short-term liabilities with its most liquid assets is just below 1.0. Given the ongoing sector-wide inventory liquidation and the risk of obsolescence for fashion-sensitive styles, the inventory on the balance sheet may be worth significantly less than its carrying value, making the current ratio an overly optimistic indicator of financial health.