Sunday 11 October 2026
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Steven Madden, Ltd.
SHOO Consumer Cyclical Footwear & Accessories
Steven Madden, Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 11.0% from fiscal 2024. In the quarter to June 2026, revenue grew 19.1%, EPS grew 169.6%, free cash flow grew 233.5% and total debt fell 57.5%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
44.30
0.10
+0.23%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 18.53 | 22.33 | 27.77 | 28.85 | 16.38 | 32.31 | 26.36 | 29.92 | 37.99 | 19.05 |
Analyst estimates 2026–2028 Powerpack |
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| High | 27.03 | 31.70 | 39.30 | 44.80 | 43.47 | 51.56 | 49.85 | 44.23 | 50.01 | 44.99 | |||||
| People | |||||||||||||||
| People | Employees | 3,925 | 3,884 | 3,900 | 4,000 | 2,800 | 3,500 | 4,000 | 4,200 | 4,800 | 6,300 | ||||
| Revenue/emp, $m | 0.36 | 0.40 | 0.43 | 0.45 | 0.43 | 0.53 | 0.53 | 0.47 | 0.48 | 0.40 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 1,400 | 1,567 | 1,678 | 1,787 | 1,202 | 1,866 | 2,122 | 1,982 | 2,283 | 2,534 | ||||
| Gross margin, % | 37.30 | 38.21 | 38.16 | 38.39 | 38.65 | 41.13 | 41.18 | 42.01 | 41.04 | 41.41 | |||||
| EBT | 171 | 172 | 177 | 181 | (30) | 242 | 282 | 221 | 230 | 78 | |||||
| EBT margin, % | 12.22 | 11.00 | 10.57 | 10.14 | (2.49) | 12.97 | 13.30 | 11.13 | 10.10 | 3.07 | |||||
| Net income | 121 | 119 | 130 | 142 | (18) | 192 | 217 | 174 | 176 | 49 | |||||
| Depreciation | 21 | 22 | 22 | 27 | 99 | 19 | 21 | 22 | 30 | 41 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 16.34 | 18.94 | 20.54 | 22.46 | 15.28 | 23.79 | 27.91 | 27.02 | 32.03 | 35.76 | ||||
| Earnings | 1.41 | 1.43 | 1.58 | 1.78 | (0.23) | 2.43 | 2.84 | 2.34 | 2.38 | 0.63 | |||||
| Cash flow | 1.79 | 1.91 | 1.89 | 2.94 | 0.56 | 2.03 | 3.52 | 3.13 | 2.78 | 2.29 | |||||
| Capex | (0.19) | (0.18) | (0.15) | (0.23) | (0.08) | 0.02 | (0.24) | (0.27) | (0.36) | (0.60) | |||||
| Free cash flow | 1.61 | 1.73 | 1.74 | 2.71 | 0.48 | 2.05 | 3.28 | 2.86 | 2.42 | 1.69 | |||||
| Book value | 8.65 | 9.78 | 9.98 | 10.57 | 10.05 | 10.46 | 11.10 | 11.56 | 12.29 | 12.76 | |||||
| Shares, m | 86 | 83 | 82 | 80 | 79 | 78 | 76 | 73 | 71 | 71 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 17.24 | 21.77 | 19.19 | 24.16 | 0.00 | 19.05 | 11.05 | 18.08 | 17.87 | 66.10 | ||||
| P/S | 1.45 | 1.65 | 1.47 | 1.92 | 2.31 | 1.95 | 1.12 | 1.57 | 1.33 | 1.16 | |||||
| P/B | 2.74 | 3.19 | 3.03 | 4.07 | 3.51 | 4.44 | 2.82 | 3.66 | 3.46 | 3.26 | |||||
| EV/Sales | 1.33 | 1.49 | 1.31 | 1.84 | 2.18 | 1.87 | 1.03 | 1.52 | 1.29 | 1.21 | |||||
| EV/FCF | 13.52 | 16.32 | 15.53 | 15.27 | 69.69 | 22.85 | 8.80 | 14.49 | 17.37 | 26.19 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 154 | 158 | 154 | 234 | 44 | 159 | 268 | 229 | 198 | 162 | ||||
| Capex | (16) | (15) | (12) | (18) | (7) | 1 | (18) | (19) | (26) | (43) | |||||
| Free cash flow | 138 | 143 | 142 | 215 | 38 | 161 | 250 | 210 | 172 | 120 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 346 | 439 | 478 | 438 | 462 | 509 | 523 | 477 | 481 | 475 | ||||
| Total debt | — | — | — | 133 | 99 | 80 | 79 | — | — | 234 | |||||
| Net debt | (166) | (245) | (267) | (172) | (188) | (184) | (211) | (220) | (203) | 122 | |||||
| Shareholders’ equity | 741 | 809 | 815 | 841 | 790 | 821 | 844 | 848 | 876 | 904 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 12.90 | 11.69 | 12.13 | 12.02 | (1.52) | 15.30 | 16.53 | 13.17 | 12.28 | 2.69 | ||||
| ROIC | 18.37 | 18.83 | 19.79 | 16.50 | (7.88) | 23.90 | 27.81 | 21.21 | 20.90 | 4.92 | |||||
| ROE | 17.03 | 15.22 | 15.91 | 17.07 | (2.26) | 23.67 | 25.96 | 20.28 | 19.65 | 5.02 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
Steven Madden, Ltd. vs peers in Footwear & Accessories (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| DECK Deckers Outdoor Corporation | $11.2B | 11.7× | 14.5× | +5.70% (above 0%: growing) | +1.08% (above 0%: growing) | +167.59% (above 0%: growing) | 56.41% | 15.23% | Compare |
| ONON On Holding AG | $11.2B | 44.9× | 24.5× | +18.47% (above 0%: growing) | n/m | +151.45% (above 0%: growing) | 65.35% | 14.04% | Compare |
| BIRK Birkenstock Holding PLC | $5.9B | 15.8× | 18.7× | +16.05% (above 0%: growing) | −10.26% (below 0%: shrinking) | −3.15% (below 0%: shrinking) | 59.05% | 28.22% | Compare |
| CROX Crocs, Inc. | $5.6B | 9.8× | 9.3× | +2.62% (above 0%: growing) | n/m | +22.93% (above 0%: growing) | 59.41% | 24.22% | Compare |
| SHOO Steven Madden, Ltd. | $3.2B | 21.9× | 16.9× | +19.12% (above 0%: growing) | n/m | +233.50% (above 0%: growing) | 46.50% | 5.90% | |
| WWW Wolverine World Wide, Inc. | $1.6B | 15.0× | 10.3× | +6.79% (above 0%: growing) | +15.62% (above 0%: growing) | +104.37% (above 0%: growing) | 46.47% | 9.34% | Compare |
| FWDI Forward Industries, Inc. | $547.8M | — (loss-making) | — (loss-making) | +332.09% (above 0%: growing) | n/m | −4,212.31% (below 0%: shrinking) | 62.19% | (651.82%) | Compare |
| WEYS Weyco Group, Inc. | $496.9M | 14.1× | 6.9× | +6.86% (above 0%: growing) | +487.50% (above 0%: growing) | −31.69% (below 0%: shrinking) | 70.37% | 27.36% | Compare |
| FOSL Fossil Group, Inc. | $414.0M | — (loss-making) | — (loss-making) | −4.86% (below 0%: shrinking) | n/m | −130.01% (below 0%: shrinking) | 62.38% | 1.53% | Compare |
| Median of peers | $3.6B | 14.6× | 12.4× | +6.83% | +8.35% | +9.89% | 60.80% | 14.63% |
Steven Madden, Ltd. (SHOO) key facts
- Concern: Net income was $49.0 million, or $0.63 per share (basic), a net margin of 1.76%.
- Strength: Steven Madden, Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 11.0% from fiscal 2024.
- Steven Madden, Ltd. (SHOO) is a Footwear & Accessories company in the Consumer Cyclical sector, listed on Nasdaq.
- As of October 9, 2026, SHOO traded at $44.30, a market capitalization of $3.2 billion.
- At that price the stock trades at 21.9× trailing-twelve-month earnings and 1.2× sales; its P/E is higher than 74% of its own readings over the past ten years.
- Steven Madden, Ltd. pays an annual dividend of $0.84 per share, a yield of 1.90%, with a payout ratio of 42.2%.
- Return on equity was 5.02% and debt-to-equity 0.13.
- Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 4.81 (safe zone) for fiscal 2025.