John Wiley & Sons, Inc. (NYSE: WLY)

Sector: Communication Services Industry: Publishing CIK: 0000107140
Market Cap 1.73 Bn
P/B 4.07
P/E 13.05
P/S 1.06
ROIC (Qtr) 10.69
Div Yield % 2.89
Rev 1y % (Qtr) -1.14
Total Debt (Qtr) 964.63 Mn
Debt/Equity (Qtr) 1.30
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About

John Wiley & Sons, Inc., often referred to as Wiley, is a prominent player in the publishing and educational services industry. Established in 1807, the company has built a strong reputation over two centuries and is listed on the New York Stock Exchange under the symbol WLY. Wiley's primary business activities revolve around publishing scientific, technical, and medical (STM) journals, books, and online products, as well as providing educational materials and services to students, educators, and professionals in over 180 countries. Wiley generates...

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Investment thesis

Bull case

  • Healthy cash reserves of 67.40M provide 2.53x coverage of short-term debt 26.64M, demonstrating strong liquidity position and minimal refinancing risk.
  • Operating cash flow of 220.08M provides strong 10.15x coverage of stock compensation 21.68M, indicating sustainable incentive practices.
  • Robust free cash flow of 162.51M exceeds capital expenditure of 57.57M by 2.82x, indicating strong organic growth funding capability.
  • Operating cash flow of 220.08M fully covers other non-current liabilities 29.42M by 7.48x, showing strong long-term stability.
  • Operating cash flow of 220.08M provides strong 10.29x coverage of inventory 21.39M, indicating efficient inventory management.

Bear case

  • Operating cash flow of 220.08M provides thin coverage of dividend payments of (75.61M) with a -2.91 ratio, suggesting potential dividend sustainability issues if operational performance deteriorates.
  • Cash reserves of 67.40M provide limited coverage of acquisition spending of 94.87M, which is 0.71x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • Operating cash flow of 220.08M provides insufficient coverage of deferred revenue obligations of 218.79M, which is 1.01x, raising concerns about future service delivery capabilities.
  • High receivables of 209.68M relative to inventory of 21.39M (9.80 ratio) suggests aggressive credit terms or collection difficulties, potentially masking revenue quality issues.
  • Operating earnings of 194.66M show weak coverage of depreciation charges of 146.61M, with a 1.33 ratio indicating high capital intensity and potential reinvestment needs.

Segments Breakdown of Revenue (2025)

Segments Breakdown of Revenue (2025)

Peer comparison

Companies in the Publishing
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 NYT New York Times Co 10.36 Bn -238.81 4.11 0.00 Mn
2 PSO Pearson Plc 8.41 Bn 13.92 1.74 -
3 WLY John Wiley & Sons, Inc. 1.73 Bn 13.05 1.06 964.63 Mn
4 SCHL Scholastic Corp 1.25 Bn 28.48 0.67 400.90 Mn
5 LEE LEE ENTERPRISES, Inc 0.04 Bn -1.63 0.08 479.84 Mn
6 EDUC Educational Development Corp 0.01 Bn 2.94 0.47 6.95 Mn
7 TNMG TNL Mediagene 0.00 Bn -0.04 0.07 -

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 1.10 1.30
EV to Cash from Ops. EV/CFO 10.65 24.67
EV to Debt EV to Debt 2.80 2.97
EV to EBIT EV/EBIT 12.17 149.23
EV to EBITDA EV/EBITDA 7.87 17.29
EV to Free Cash Flow [EV/FCF] EV/FCF 34.10 24.30
EV to Market Cap EV to Market Cap 1.56 3.67
EV to Revenue EV/Rev 1.65 1.80
Price to Book Value [P/B] P/B 4.07 3.94
Price to Earnings [P/E] P/E 13.05 -26.01
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 1.35 1.18
Dividend Payout Ratio % Div Payout % (Qtr) 74.30 -34.74
Dividend per Basic Share Div per Share (Qtr) 1.41 0.46
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 46.16 26.60
Interest Coverage Int. cover (Qtr) 4.05 -0.64
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 11.15 954.28
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -10.77 8.48
Dividend Growth (1y) % Div 1y % (Qtr) 0.57 5.68
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 156.62 1,653.65
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 33.53 -147.25
EBIT Growth (1y) % EBIT 1y % (Qtr) 196.62 119.12
EBT Growth (1y) % EBT 1y % (Qtr) 974.71 79.49
EPS Growth (1y) % EPS 1y % (Qtr) 308.79 81.09
FCF Growth (1y) % FCF 1y % (Qtr) 22.79 652.20
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -3.09 -5.44
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.68 0.73
Cash Payout Ratio Cash Payout (Qtr) 0.27 0.11
Cash Ratio Cash Ratio (Qtr) 0.12 0.23
Current Ratio Curr Ratio (Qtr) 0.71 1.53
Debt to Equity Ratio Debt/Equity (Qtr) 1.30 -1.00
Interest Cover Ratio Int Coverage (Qtr) 4.05 -0.64
Times Interest Earned Times Interest Earned (Qtr) 4.05 -0.64
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 20.50 -3.80
EBIT Margin % EBIT Margin % (Qtr) 11.69 -11.37
EBT Margin % EBT Margin % (Qtr) 8.80 -16.08
Gross Margin % Gross Margin % (Qtr) 74.30 55.09
Net Profit Margin % Net Margin % (Qtr) 6.10 -17.99