WW International Inc
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WW International Inc AI Insights
Informational only. Not investment advice.Snapshot
- Tangible book value is -384.7M with goodwill/intangibles at 707.7M (219% of equity) - balance sheet relies entirely on brand value that may not survive turnaround failure.[Tangible Book Value]
- Revenue declining 11% TTM while debt/equity at 1.45x and interest expense (12.1M) exceeds operating income (8M) - capital structure unsustainable at current trajectory.[Interest Expense]
- Gross margin 72% vs industry median 46% - premium pricing power intact despite subscriber losses, but can't offset 11% annual revenue decline.[Gross Margin]
Watch Triggers
- Total Revenue 1yr Growth: Turns positive or decline accelerates beyond -15% — Revenue stabilization is prerequisite for debt service; further decline triggers covenant/refinancing crisis
- Operating Income: Falls below zero or rises above interest expense (12.1M) — Crossing interest coverage of 1.0x determines solvency trajectory
- Cash and Equivalents: Falls below 100M — 170M cash is only buffer; burn rate acceleration signals liquidity crisis
Bull Case
72% gross margin (vs 46% industry) proves brand pricing power remains; if subscriber churn reverses, operating leverage is significant with 116M fixed cost base.
Market cap of 265M vs 170M cash means enterprise value of 564M buys 172M revenue at 3.3x - distressed valuation if turnaround succeeds.
Bear Case
Interest expense exceeds operating income (12.1M vs 8M TTM) with 469M debt - company is operationally insolvent at current run rate without restructuring.
Revenue declining 11% annually for 5 years with no inflection; GLP-1 drugs disrupting weight-loss market structurally reduces addressable market.
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
Without revenue stabilization by FY2025, debt refinancing risk escalates materially
- 469M total debt vs 170M cash = 299M net debt
- Interest expense at 150% of operating income
- 5-year revenue CAGR of -11.7%
Valuation Context
Caveats
WW Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$99.89M | — | ||
$447.21M | — | ||
0.00 | — | ||
$0 | — | ||
$0.00 | — | ||
0% | — | ||
0% | — | ||
$0 | — | ||
0% | — | ||
Beta 5Y (Monthly) | unknown | — |
WW Dividend History
2013
$0.52502012
$0.70002011
$0.70002010
$0.70002009
$0.70002008
$0.70002007
$0.70002006
$0.7000WW Stock Splits
WW SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/07/26 | 03/31/26 | 10-Q | |
03/16/26 | 12/31/25 | 10-K | |
11/06/25 | 09/30/25 | 10-Q | |
06/30/25 | 06/30/25 | 4 | |
05/07/26 | 03/29/25 | 10-Q | |
03/16/26 | 12/28/24 | 10-K | |
11/06/25 | 09/28/24 | 10-Q |