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Wolverine World Wide Inc
WWW : NYSE : Consumer Goods
$24.27 -0.18 | -0.74%
Today's Range: 24.27 - 24.54
Avg. Daily Volume: 864,200
07/29/14 - 4:02 PM ET

Financial Analysis


WOLVERINE WORLD WIDE's gross profit margin for the second quarter of its fiscal year 2014 is essentially unchanged when compared to the same period a year ago. The company has grown its sales and net income during the past quarter when compared with the same quarter a year ago, and although its growth in net income has outpaced the industry average, its revenue growth has not. WOLVERINE WORLD WIDE has strong liquidity. Currently, the Quick Ratio is 1.99 which shows the ability to cover short-term cash needs. The company's liquidity has increased from the same period last year.

At the same time, stockholders' equity ("net worth") has greatly increased by 28.55% from the same quarter last year. The key liquidity measurements indicate that the company is unlikely to face financial difficulties in the near future.

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Income Statement Q2 FY14 Q2 FY13
Net Sales ($mil)613.5587.8
EBITDA ($mil)67.456.4
EBIT ($mil)55.045.0
Net Income ($mil)27.517.9


Balance Sheet Q2 FY14 Q2 FY13
Cash & Equiv. ($mil)232.4171.0
Total Assets ($mil)2681.22644.7
Total Debt ($mil)1131.31184.7
Equity ($mil)903.9703.1


Profitability Q2 FY14 Q2 FY13
Gross Profit Margin42.0942.94
EBITDA Margin10.989.59
Operating Margin8.967.66
Sales Turnover1.010.85
Return on Assets4.372.9
Return on Equity12.9710.9
Debt Q2 FY14 Q2 FY13
Current Ratio3.563.07
Debt/Capital0.560.63
Interest Expense10.512.5
Interest Coverage5.243.6


Share Data Q2 FY14 Q2 FY13
Shares outstanding (mil)101.5100.42
Div / share0.060.06
EPS0.270.18
Book value / share8.917.0
Institutional Own % n/a n/a
Avg Daily Volume874061.01064238.0

Valuation


BUY. WOLVERINE WORLD WIDE's P/E ratio indicates a discount compared to an average of 30.86 for the Textiles, Apparel & Luxury Goods industry and a value on par with the S&P 500 average of 19.71. To use another comparison, its price-to-book ratio of 2.79 indicates valuation on par with the S&P 500 average of 2.73 and a significant discount versus the industry average of 7.41. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. Upon assessment of these and other key valuation criteria, WOLVERINE WORLD WIDE proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
WWW 21.61 Peers 30.86   WWW 13.94 Peers 24.65

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

WWW is trading at a significant discount to its peers.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

WWW is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
WWW 13.81 Peers 28.19   WWW 0.36 Peers 1.69

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

WWW is trading at a significant discount to its peers.

 

Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

WWW trades at a significant discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
WWW 2.79 Peers 7.41   WWW 49.35 Peers 15.57

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

WWW is trading at a significant discount to its peers.

 

Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

WWW is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
WWW 0.93 Peers 2.69   WWW 20.52 Peers 14.18

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

WWW is trading at a significant discount to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

WWW has a sales growth rate that significantly exceeds its peers.

 

 

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