Is Wolverine World Wide, Inc. overvalued or undervalued?

As of 8 May 2025, Wolverine World Wide, Inc. has moved from an expensive to a fair valuation grade. The company is currently fairly valued, with a P/E ratio of 35, a Price to Book Value of 6.30, and an EV to EBITDA ratio of 19.23. In comparison to its peers, Hanesbrands, Inc. has a P/E of 8.93 and G-III Apparel Group Ltd. shows an attractive P/E of 4.74, highlighting that Wolverine is trading at a premium relative to these competitors.
Despite its fair valuation, Wolverine has experienced a challenging performance relative to the S&P 500, with a year-to-date return of -21.89% compared to the index's 2.44%. This underperformance may suggest that while the stock is fairly valued based on its current metrics, market sentiment could be weighing on its price. Overall, the company appears to be in a position where it is neither undervalued nor overvalued, but rather reflects a fair assessment of its financial standing in the current market environment.