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WW International, Inc.
(NASDAQ:WW)
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Rating:45Neutral
Price Target:
$12.50
▼(-30.63% Downside)
Action:Reiterated
Date:10/02/26
The score is held down primarily by weak financial performance (losses, declining revenue, and negative recent cash flow) and a bearish technical setup with the stock below major moving averages. Guidance reaffirmation, improving mix toward clinical/Core+ and continued debt reduction are supportive, but they are currently outweighed by ongoing top-line and subscriber declines and limited valuation support given negative earnings and no dividend.
Positive Factors
Clinical Growth and Mix Shift
Clinical subscribers grew 55.7% year over year to 197,000, while clinical revenue rose 30.4% and reached 24.6% of Q2 revenue. This mix shift toward higher-value care can diversify the legacy model, lift ARPU, and create a more durable growth engine if retained over coming quarters.
Negative Factors
Behavioral Subscriber Contraction
Behavioral subscribers fell 24.6% year over year to 2.3 million and behavioral revenue declined 22.7%. Because the core tier remains a large part of the membership base, sustained contraction can erode scale, raise acquisition needs, and offset growth from clinical offerings.
Read all positive and negative factors
Positive Factors
Negative Factors
Clinical Growth and Mix Shift
Clinical subscribers grew 55.7% year over year to 197,000, while clinical revenue rose 30.4% and reached 24.6% of Q2 revenue. This mix shift toward higher-value care can diversify the legacy model, lift ARPU, and create a more durable growth engine if retained over coming quarters.
Read all positive factors
WW International, Inc. (WW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$134.28M
Dividend Yield1.88%
Average Volume (3M)254.90K
Price to Earnings (P/E)―
Beta (1Y)2.03
Revenue Growth-11.63%
EPS Growth-108.59%
CountryUS
Employees3,500
SectorGeneral
Sector StrengthN/A
IndustryPersonal Products & Services
Share Statistics
EPS (TTM)-10.00
Shares Outstanding9,998,760
10 Day Avg. Volume120,514
30 Day Avg. Volume254,895
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.92
Price to Sales (P/S)0.41
P/FCF Ratio-6.30
Enterprise Value/Market Cap3.57
Enterprise Value/Revenue0.71
Enterprise Value/Gross Profit1.04
Enterprise Value/Ebitda6.26
Forecast
1Y Price Target
$22.50Price Target Upside24.86% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-3.47
Revenue Forecast (FY)$631.09M
WW International, Inc. Business Overview & Revenue Model
Company Description
WW International, Inc., founded in 1961 and based in New York, New York, is a leading global provider of services and goods aimed at weight management and overall wellness. The company, which operated as Weight Watchers International, Inc. until i...
How the Company Makes Money
WW primarily makes money through membership-based subscriptions and related services. Its core revenue stream has historically been subscription fees paid by members for access to WW’s digital products (such as its mobile app, tracking tools, and ...
WW International, Inc. Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call presented a mix of encouraging operational and financial improvements alongside notable top-line and core behavioral subscriber declines. Positives include strong growth in higher-value Core+ and clinical subscribers, ARPU improvement, high adjusted gross margins, positive adjusted EBITDA and quarter cash generation, and significant debt reduction with lower future interest expense. The principal challenges are a year-over-year revenue decline (~14%), a sharp decline in core behavioral subscribers and behavioral revenue (~22–25%), elevated marketing as a percent of revenue (seasonally variable), and non-cash charges inflating GAAP SG&A. Management reiterated full-year guidance and expects positive operating cash flow, indicating confidence in the multi-year transformation despite near-term headwinds.Positive Updates
Core+ Subscriber Growth
Core+ subscribers reached 541,000, up 13.9% year-over-year and marking the third consecutive quarter of sequential growth in the higher-value behavioral tier.
Negative Updates
Overall Revenue Decline
Total revenue for Q2 was $162.3 million, down from $189.2 million a year ago (approximately a 14.2% decline year-over-year).
Read all updates
Q2-2026 Updates
Positive
Negative
Core+ Subscriber Growth
Core+ subscribers reached 541,000, up 13.9% year-over-year and marking the third consecutive quarter of sequential growth in the higher-value behavioral tier.
Read all positive updates
Company Guidance
WeightWatchers reaffirmed full‑year 2026 guidance of $620–$635 million in revenue and $105–$115 million of adjusted EBITDA, and said clinical subscription revenue should represent 25%–30% of 2026 total revenue (up from 15.9% in 2025) even with moderate declines in clinical subscribers expected in remaining quarters; management expects a modest adjusted gross margin decline versus 2025 but to remain above 72%, marketing expense as a percentage of revenue to increase modestly versus 2025 with Q3 as the lowest marketing quarter and spend ramping into Q4 (H2 below H1), product development and capitalized software & development to stay near the Q2 run rate (Q2 PD was $6.4M; capex ~$6.1M), positive operating cash flow for the full year, full‑year interest expense of roughly $45–$50 million, and cash taxes of $5–$10 million.WW International, Inc. Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
41
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 676.72M | 710.64M | 785.92M | 889.55M | 1.04B | 1.21B |
| Gross Profit | 459.06M | 510.50M | 533.10M | 529.30M | 621.38M | 726.67M |
| EBITDA | 76.45M | 1.22B | -198.44M | 74.73M | -241.86M | 213.44M |
| Net Income | -100.02M | 1.06B | -345.70M | -112.25M | -256.87M | 67.13M |
Balance Sheet | ||||||
| Total Assets | 840.44M | 946.76M | 550.28M | 982.03M | 1.03B | 1.43B |
| Cash, Cash Equivalents and Short-Term Investments | 101.50M | 160.28M | 53.02M | 109.37M | 178.33M | 153.79M |
| Total Debt | 426.31M | 468.62M | 1.48B | 1.49B | 1.51B | 1.52B |
| Total Liabilities | 561.79M | 628.69M | 1.66B | 1.74B | 1.71B | 1.89B |
| Stockholders Equity | 278.65M | 318.07M | -1.11B | -761.09M | -685.78M | -456.40M |
Cash Flow | ||||||
| Free Cash Flow | -26.82M | -46.38M | -33.25M | -29.61M | 38.39M | 119.63M |
| Operating Cash Flow | -3.75M | -28.90M | -16.84M | 6.69M | 76.65M | 157.28M |
| Investing Cash Flow | -25.10M | -19.50M | -16.41M | -74.70M | -42.64M | -52.75M |
| Financing Cash Flow | -36.81M | 153.90M | -17.34M | -2.75M | -4.72M | -111.54M |
WW International, Inc. Technical Analysis
Negative
18.02
Price Trends
15.31
Negative
15.74
Negative
16.67
Negative
Market Momentum
-0.50
Positive
46.91
Neutral
32.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WW, the sentiment is Negative. The current price of 18.02 is above the 20-day moving average (MA) of 14.61, above the 50-day MA of 15.31, and above the 200-day MA of 16.67, indicating a bearish trend. The MACD of -0.50 indicates Positive momentum. The RSI at 46.91 is Neutral, neither overbought nor oversold. The STOCH value of 32.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for WW.
WW International, Inc. Risk Analysis
WW International, Inc. disclosed 40 risk factors in its most recent earnings report. WW International, Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
WW International, Inc. Peers Comparison
UnderperformOutperform
Sector (55)
WW
WW International, Inc.
14.20
-16.16
-53.23%
MED
Medifast
12.10
-0.38
-3.04%
MRM
MEDIROM Healthcare Technologies
0.34
-2.25
-86.99%
WW International, Inc. Corporate Events
Business Operations and StrategyExecutive/Board Changes
WW International appoints Stephen Bye as new CEO
Positive
Sep 9, 2026
On September 9, 2026, Weight Watchers named Stephen J. Bye as its incoming President and Chief Executive Officer and a director, with his start date to be set by November 27, 2026, expanding the board to seven members and formally ending the Inter...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.