Start here if you're new
what it is
Wolverine sells shoes and apparel through brands like Merrell and Saucony in about 170 countries.
how it gets paid
Last year Wolverine W.W made $1.9B in revenue.
why it's growing
Revenue grew 6.8% last year. The key number was $470.3M in quarterly sales.
what just happened
Third-quarter sales hit $470.3M, ahead of the $460M estimate, while adjusted EPS came in at $0.36.
At a glance
B balance sheet — gets the job done, barely
30/100 earnings predictability — expect surprises
13.7x trailing p/e — the market's not buying it — or you found a deal
2.2% dividend yield — cash in your pocket every quarter
18.5% return on capital — nothing to write home about
xvary composite: 46/100 — below average
What they do
Wolverine sells shoes and apparel through brands like Merrell and Saucony in about 170 countries.
This business wins with shelf space, brand recognition, and global reach. Wolverine sells in about 170 countries, and 49% of 2024 sales came from outside the U.S. That matters because if one market slows, your revenue is not trapped in one mall, one country, or one season.
How they make money
$1.9B
annual revenue · their business grew +6.8% last year
total revenue
$1.9B
+6.8%
The products that matter
active lifestyle footwear brands
Merrell & Saucony
growth brands inside a $1.9B business
these were the brands management highlighted as the growth engines, helping a $1.9B company still post 6.8% revenue growth.
core
work and safety footwear
Work Group
down 3% from a year ago
the source does not break out segment revenue, but a 3% decline inside a $1.9B company is enough to make this the drag, not the driver.
lagging
apparel and licensing
Apparel & Licensing
part of the same $1.9B revenue base
the snapshot is thin here. What you know is that it sits inside a $1.9B portfolio and matters less than the footwear brands carrying the quarter.
supporting
Key numbers
$34
18-month target
That target is about 84% above the $18.51 share price, which tells you the turnaround case is still alive.
10.0%
operating margin
Operating margin → profit after running the business → so this shows Wolverine is profitable before financing and taxes.
18.5%
return on capital
Return on capital → profit from money invested in the business → so 18.5% says management is getting decent output from each dollar.
$546M
long-term debt
That is real leverage against a $1.9B revenue base, which matters in a consumer business that can turn fast.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 4 — safer than 20% of stocks
- price stability 15 / 100
- long-term debt $546M (27% of capital)
- net profit margin 8.0% — keeps 8 cents of every dollar in revenue
- return on equity 30% — $0.30 profit for every $1 investors have put in
B — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in WWW 3 years ago → it's now worth $18,650.
The index would have given you $14,770.
source: institutional data · total return
What just happened
beat estimates
Third-quarter sales hit $470.3M, ahead of the $460M estimate, while adjusted EPS came in at $0.36.
The quarter beat expectations on both sales and earnings. Management said growth stayed strong at Merrell and Saucony, which helped push results above the prior forecast.
$470.3M
revenue
$0.36
eps
47.4%
gross margin
the number that mattered
The key number was $470.3M in quarterly sales, because it beat the $460M estimate and showed the brand recovery is showing up in actual demand.
-
wolverine world wide beat our expectations in the third quarter.
-
sales came in at $470.3 million with adjusted earnings of $0.36 a share.
-
these figures compare favorably to our estimates of $460 million and $0.33.
-
strong growth continued at the company’s top brands, namely merrell and saucony.
-
these gains offset sluggish showings from the work group, where sales were down 3% relative to the prior year.on the earnings front, cost initiatives within the supply chain were helpful, as were price increases.
source: company earnings report, 2025
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the top risk is Work Group weakness spreading faster than Merrell and Saucony can offset it.
med
consumer pullback in discretionary footwear
all $1.9B of revenue ultimately depends on people buying shoes and apparel. with a 6.1% net margin, you do not need a huge sales miss to feel it.
when a business keeps only about 6 cents of each revenue dollar, small demand pressure can do oversized damage.
med
Work Group keeps shrinking
this segment was already down 3% from a year ago. the current bull case assumes stronger brands can cover that weakness without the weakness spreading.
if Merrell and Saucony stop outrunning the laggards, the portfolio starts looking like a collection problem instead of a recovery story.
med
$546M of debt leaves less room for mistakes
long-term debt equals 27% of capital. that is manageable, but paired with 15/100 price stability it tells you this is not a low-drama stock.
weaker demand and financing pressure hit the same income statement. you feel both at once.
all three risks land in the same place: a $1.9B business with a 6.1% net margin and a still-shrinking Work segment does not have much slack.
source: institutional data · regulatory filings · risk analysis
Pay attention to
trend
Merrell and Saucony momentum
these brands are doing the heavy lifting right now. if that growth cools, the rest of the story gets exposed fast.
risk
Work Group decline
the current number is down 3% from a year ago. you want stabilization here, not a deeper drag on the portfolio.
metric
net margin versus revenue growth
6.8% revenue growth and a 6.1% net margin can work together. if one slips while the other stalls, the turnaround math gets worse.
calendar
next earnings print
you are looking for another quarter where better brands offset weaker ones. one clean beat is good. a pattern is better.
Analyst rankings
short-term outlook
average
momentum score 3. in human-speak, analysts think the stock is moving with the market, not breaking away from it.
risk profile
below average
stability score 4. this has been more volatile than most stocks, which fits the 15 / 100 price stability number.
chart momentum
average
technical score 3. the chart is not screaming strength or collapse.
earnings predictability
30 / 100
earnings predictability is low. translation: you should expect more quarterly wobble here than in steadier consumer names.
source: institutional data
Institutional activity
institutions have been net buying for 2 consecutive quarters — 142 buyers vs. 134 sellers in 3q2025. total institutional holdings: 91.3M shares. net buying for 2 quarters.
source: institutional data
Price targets
3-5 year target range
$14
$54
$19
current price
$34
target midpoint · +84% from current · 3-5yr high: $35 (+90% · 18% ann'l return)
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive