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Steven Madden, LTD. (SHOO) stock

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NASDAQ: SHOO Nasdaq Footwear Next results ~November 5, 2026

C+ Fundamentals grade

Steven Madden, LTD. is a US-listed company in the footwear industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$80

Cash-flow model

Base case. Range ~$60–$110 across our lower- and higher-growth cases (10.2%–20.2% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 84% above it.

Price used: $43.53, November 2, 2026

Steven Madden, LTD. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 9 selling0 purchases and 20 sales by directors and officers, last 12 monthsInsider trades
  • Funds175 adding, 111 cuttingOf 55 active managers that changed their stake, 30 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Steven Madden files

Where Steven Madden, LTD. stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.74bn, up 18.2% on a year earlier, faster than the 15.3% growth a quarter earlier. Free-cash-flow margin rose to 8.2% from 5.1% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 4 of our 4 financial-health checks. Our cash-flow model value is $87.39 a share, against a share price of $42.71. At that price, our model says the market is pricing in about 2.6% a year of cash-flow growth for five years, slower than the 8.0% a year revenue growth it has delivered.

Source: 10-Q filed July 31, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Steven Madden, LTD.'s trailing-twelve-month revenue grew 18.2% year on year, with a free-cash-flow margin of 8.2%. Where it stands out: long-term debt as % of assets of 6.8% ranks 1 of 5 footwear companies we cover.

Our discounted-cash-flow model values the business at ~$80 per share in the base case (~$60–$110 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 90.4% while net income grew 51.3%: a 39pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $43.53 is 84% below our value per share of $80.
  • Fast growth. Revenue grew 18.2% over the last 12 months, against a median of 7.3% for footwear companies we cover.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Volatile shares. Over the past year the shares showed annualised volatility of 42% and a beta of 1.5 against the S&P 500.
  • Below peers: gross margin. Gross margin of 46.1% ranks 8 of 10 footwear companies we cover (median 49.1%).
  • Below peers: operating margin. Operating margin of 7.5% ranks 8 of 10 footwear companies we cover (median 12.5%).
  • Heavily shorted. 10.1% of the shares available to trade are sold short (3.8 days of average volume to cover).

Latest results: FY2026 Q2

Filed July 31, 2026
Earnings per share
$0.44 against an average estimate of $0.33: beat by 34.3%
Revenue
$666m, up 19.1% on a year earlier
Share reaction
+6.2% in the first session after the results on July 30, 2026, against +2.4% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.75

Steven Madden's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.1%
  • 1 week+1.8%
  • 1 month-5.3%
  • This year+6.2%
  • 1 year+31.1%
  • 5 years+0.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.7B
Operating margin
7.5%
Net margin
5.4%
EPS (TTM, diluted)
$2.06

Growth

Revenue growth
+18.2%
Change in growth rate
+2.8 pts
Share count change
+0.7%

Cash

Free cash flow (TTM)
$224M
FCF margin
8.2%
Stock pay % of revenue
1.1%

Earnings

Last results
July 30, 2026
Next results (est.)
November 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Steven Madden, LTD. valuation models and calculator

What the price is pricing in

The share price implies about 3.3% a year of cash-flow growth for five years.That is close to the 8.0% a year revenue growth Steven Madden has delivered.

  • Priced in3.3%
  • Last 12 months18.2%
  • 3 years a year12.3%
  • 5 years a year8.0%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($43.79, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$80
Price used
$43.79close November 3, 2026
Implied change
▲ +83%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Steven Madden, LTD.'s free cash flow after stock-based pay with after-tax interest added back ($182M, FY2026 Q2 TTM), growing 11.6% and 12.8% in the next two years (forecasts, guidance and its record), then back to 15.2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$60–~$110 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Steven Madden, LTD.'s free cash flow after stock-based pay ( $182M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Steven Madden, LTD. as an operating company, with every model that fits that kind of business. Cost of equity 10.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.16 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$80 ~$60–$110 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: fewer than 5 peers with a usable multiple
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$32 ~$24–$43 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$32 ~$28–$37 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$56 ~$32–$80 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Steven Madden, LTD. with Footwear in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −12%
  • Last year's free-cash-flow margin change, if it persists ▲ +62%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $35$48$65$87$117$154
8.5% $27$36$48$64$85$112
10% $22$29$38$51$66$87

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$17.11$20.25$26.45$26.13$37.74$31.16$41.59$29.31$39.46$40.72$40.98$43.53
Market value$1.0bn$1.8bn$2.3bn$2.2bn$3.2bn$2.5bn$3.4bn$2.3bn$2.9bn$2.9bn$2.9bn$3.1bn
+ Net debt (− = net cash)−$72m−$126m−$181m−$200m−$264m−$248m−$219m−$275m−$205m−$190m$122m$0
Enterprise value$974m$1.7bn$2.1bn$2.0bn$2.9bn$2.2bn$3.2bn$2.0bn$2.7bn$2.7bn$3.0bn$3.1bn
Multiples
Price / sales 0.7x1.3x1.5x1.3x1.8x2.0x1.8x1.1x1.5x1.3x1.2x1.1x
Price / earnings 9.3x15.0x19.4x17.4x22.3x—17.6x10.5x16.9x16.7x59.5x21.1x
Price / free cash flow 9.0x13.1x16.0x15.9x14.7x65.1x22.2x9.1x14.0x17.0x24.4x13.9x
EV / EBITDA 5.1x8.8x11.1x10.5x14.6x—12.3x6.7x12.0x11.2x26.6x12.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

68 /100

Moderate moat

How hard Steven Madden's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 19 / 20

    Net income has been a median 11.4% of total assets over 10 years.

  • Pricing power 14 / 20

    Gross margin has been a median 40.4%, moving by 2.4 percentage points (standard deviation) across 10 years.

  • Durability 6 / 20

    Operating margin has been a median 10.5%; its worst year was 2.6%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 10 of 10 years, at a median 8.7% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 10.7% over five years; stock-based pay has been a median 1.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (73 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $779m and EPS of $0.75 (range $0.63 to $0.95) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.21 +30% $2.9bn +14%
Next $2.74 +24% $3.1bn +8%

Next year's EPS estimate has moved +1.2% in 90 days, across 9 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.33 $0.44 +34.3%
Mar 2026 $0.37 $0.45 +20.1%
Dec 2025 $0.47 $0.48 +1.4%
Sept 2025 $0.45 $0.43 −3.5%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Steven Madden, LTD.'s revenue by +11.6% next year and +12.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+9.8%, weight 67%) and the company's own record (+15.2%, weight 33%) . How the weights are set.

Analyst recommendations

9 analysts, Oct 2026
Buy778%
Hold111%
Sell111%

Monthly trend

  1. Oct 202634119
  2. Sep 2026351110
  3. Aug 202634119
  4. Jul 202634119

Counts of recommendations published by analysts covering Steven Madden, LTD., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.1%
of tradable shares
Days to cover
3.81
at average volume
Short interest, 1 month
+16%
to September 30, 2026
Held by institutions
—
of shares
Held by insiders
2.2%
of shares
Employees
4,200
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +31.1%

$33.21 on October 31, 2025 to $43.53

ThenNowEffect
Revenue (last 12 months) $2.3bn $2.7bn +18.2%
Net margin 4.2% 5.4% +28.1%
P/E multiple 24.3x 21.1x −12.8%
Share count 71m 72m −0.7%

Biggest factor: net margin.

Last 3 years +34.2%

$32.43 on November 3, 2023 to $43.53

ThenNowEffect
Revenue (last 12 months) $1.9bn $2.7bn +41.5%
Net margin 8.6% 5.4% −37.4%
P/E multiple 14.8x 21.1x +42.6%
Share count 76m 72m +6.2%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SHOO+34%−30%+35%+3%+1%+6%
Industry peers (median)+45%−12%+35%+24%−19%+49%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SHOO67%33%67%42%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SHOO−16%−42%−18%−16%−54%−32%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 60% from October 1, 2024 to April 16, 2025. Getting back needed a 151% gain, reached on July 30, 2026, 470 days after the low.

Price behaviour

52-week range
$31.06 – $48.82
From 52-week high
−10.8%
vs 50-day average
−0.8%
vs 200-day average
+6.0%
Volatility (1 year)
42%
Beta vs S&P 500
1.51

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±6.4%
After a week
6 up, 6 down
typical move ±9.0%
After a month
8 up, 4 down
typical move ±12.9%
Results releasedNext dayS&P 500 next day5 days21 days
July 30, 2026 +6.2% +2.4% +11.2% +1.9%
May 6, 2026 +5.2% +1.1% +2.2% +16.8%
February 25, 2026 −1.3% +0.3% −3.3% −10.6%
November 5, 2025 +16.9% −0.7% +18.3% +33.6%
July 30, 2025 −8.8% −0.5% −1.8% +10.9%
May 7, 2025 +18.5% +1.1% +30.0% +24.0%
February 26, 2025 −12.3% −1.5% −23.4% −28.0%
November 7, 2024 +0.9% +1.2% −0.6% −0.9%
July 31, 2024 −2.1% +0.2% −5.1% +0.2%
May 1, 2024 −0.7% +0.6% +0.9% +10.0%
February 28, 2024 −1.9% +0.2% −3.7% −2.6%
November 8, 2023 −1.5% −0.7% +7.9% +15.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Steven Madden, LTD.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Steven Madden, LTD. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Steven Madden, LTD.
$1.5B $2B $2.5B $3B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.9B Revenue (TTM), FY23 Q4: $2B Revenue (TTM), FY24 Q1: $2.1B Revenue (TTM), FY24 Q2: $2.1B Revenue (TTM), FY24 Q3: $2.2B Revenue (TTM), FY24 Q4: $2.3B Revenue (TTM), FY25 Q1: $2.3B Revenue (TTM), FY25 Q2: $2.3B Revenue (TTM), FY25 Q3: $2.4B Revenue (TTM), FY25 Q4: $2.5B Revenue (TTM), FY26 Q1: $2.6B Revenue (TTM), FY26 Q2: $2.7B $2.7B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.9B
FY23 Q4 $2B
FY24 Q1 $2.1B
FY24 Q2 $2.1B
FY24 Q3 $2.2B
FY24 Q4 $2.3B
FY25 Q1 $2.3B
FY25 Q2 $2.3B
FY25 Q3 $2.4B
FY25 Q4 $2.5B
FY26 Q1 $2.6B
FY26 Q2 $2.7B
Revenue growth, TTM YoY Steven Madden, LTD.
-20% -10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -13.3% Revenue growth, TTM YoY, FY23 Q4: -6.6% Revenue growth, TTM YoY, FY24 Q1: 2.2% Revenue growth, TTM YoY, FY24 Q2: 10.9% Revenue growth, TTM YoY, FY24 Q3: 14.9% Revenue growth, TTM YoY, FY24 Q4: 15.2% Revenue growth, TTM YoY, FY25 Q1: 10.3% Revenue growth, TTM YoY, FY25 Q2: 8.0% Revenue growth, TTM YoY, FY25 Q3: 6.4% Revenue growth, TTM YoY, FY25 Q4: 11.0% Revenue growth, TTM YoY, FY26 Q1: 15.3% Revenue growth, TTM YoY, FY26 Q2: 18.2% 18.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -13.3%
FY23 Q4 -6.6%
FY24 Q1 2.2%
FY24 Q2 10.9%
FY24 Q3 14.9%
FY24 Q4 15.2%
FY25 Q1 10.3%
FY25 Q2 8.0%
FY25 Q3 6.4%
FY25 Q4 11.0%
FY26 Q1 15.3%
FY26 Q2 18.2%
Operating margin (TTM) Steven Madden, LTD.
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 11.0% Operating margin (TTM), FY23 Q4: 10.8% Operating margin (TTM), FY24 Q1: 10.8% Operating margin (TTM), FY24 Q2: 10.5% Operating margin (TTM), FY24 Q3: 9.8% Operating margin (TTM), FY24 Q4: 9.9% Operating margin (TTM), FY25 Q1: 9.7% Operating margin (TTM), FY25 Q2: 5.8% Operating margin (TTM), FY25 Q3: 3.9% Operating margin (TTM), FY25 Q4: 3.2% Operating margin (TTM), FY26 Q1: 4.8% Operating margin (TTM), FY26 Q2: 7.5% 7.5%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 11.0%
FY23 Q4 10.8%
FY24 Q1 10.8%
FY24 Q2 10.5%
FY24 Q3 9.8%
FY24 Q4 9.9%
FY25 Q1 9.7%
FY25 Q2 5.8%
FY25 Q3 3.9%
FY25 Q4 3.2%
FY26 Q1 4.8%
FY26 Q2 7.5%
FCF margin (TTM) Steven Madden, LTD.
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 13.4% FCF margin (TTM), FY23 Q4: 10.6% FCF margin (TTM), FY24 Q1: 10.0% FCF margin (TTM), FY24 Q2: 10.2% FCF margin (TTM), FY24 Q3: 10.1% FCF margin (TTM), FY24 Q4: 7.5% FCF margin (TTM), FY25 Q1: 7.1% FCF margin (TTM), FY25 Q2: 5.1% FCF margin (TTM), FY25 Q3: 5.6% FCF margin (TTM), FY25 Q4: 4.7% FCF margin (TTM), FY26 Q1: 3.3% FCF margin (TTM), FY26 Q2: 8.2% 8.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 13.4%
FY23 Q4 10.6%
FY24 Q1 10.0%
FY24 Q2 10.2%
FY24 Q3 10.1%
FY24 Q4 7.5%
FY25 Q1 7.1%
FY25 Q2 5.1%
FY25 Q3 5.6%
FY25 Q4 4.7%
FY26 Q1 3.3%
FY26 Q2 8.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Steven Madden took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $2.5B
  2. Cost of revenue $1.5B · 58.6%
  3. Gross profit $1B · 41.4%
  4. Other operating costs $969M · 38.2%
  5. Operating income $80.8M · 3.2%
  6. Income tax $28.7M · 1.1%
  7. Net income $49M · 1.9%

Shares of revenue. Source: Steven Madden's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 504 635 969 1,227 1,314 1,335 1,405 1,400 1,567 1,678 1,787 1,202 1,866 2,122 1,982 2,283 2,534 2,741
Gross profit 216 276 362 456 482 469 500 522 599 640 686 465 767 874 832 937 1,049 1,264
EBITDA 89 132 165 192 217 183 192 190 191 196 198 −14 259 302 229 245 114 244
Operating income 79 122 154 179 204 168 172 169 170 173 177 −32 244 282 213 225 81 206
Net income 50 76 97 120 132 112 113 121 118 129 141 −18 192 217 174 176 49 148
Diluted EPS $0.81 $1.19 $1.50 $1.81 $1.98 $1.76 $1.85 $1.35 $1.36 $1.50 $1.69 −$0.23 $2.34 $2.77 $2.30 $2.35 $0.63 $2.06
Growth (year on year)
Revenue — +26.2% +52.4% +26.7% +7.1% +1.6% +5.3% −0.4% +12.0% +7.1% +6.5% −32.8% +55.3% +13.7% −6.6% +15.2% +11.0% +18.2%
EBITDA — +48.7% +25.2% +16.3% +13.1% −15.7% +5.3% −1.1% +0.5% +2.5% +1.2% −107.2% — +16.8% −24.3% +7.1% −53.4% +53.3%
Operating income — +54.0% +26.4% +16.4% +13.9% −17.7% +2.4% −1.4% +0.4% +2.1% +2.0% −117.9% — +15.6% −24.3% +5.5% −64.1% +52.8%
Net income — +51.1% +28.5% +22.9% +10.3% −15.2% +0.9% +7.1% −2.5% +9.5% +9.4% −113.0% — +12.9% −19.9% +1.1% −72.1% +51.3%
Diluted EPS — +45.9% +26.4% +20.7% +9.4% −11.1% +5.1% −27.0% +0.7% +10.3% +12.7% −113.6% — +18.4% −17.0% +2.2% −73.2% +50.3%
Margins
Gross margin 42.9% 43.4% 37.4% 37.1% 36.7% 35.1% 35.6% 37.3% 38.2% 38.2% 38.4% 38.7% 41.1% 41.2% 42.0% 41.0% 41.4% 46.1%
EBITDA margin 17.6% 20.7% 17.0% 15.6% 16.5% 13.7% 13.7% 13.6% 12.2% 11.7% 11.1% −1.2% 13.9% 14.2% 11.5% 10.7% 4.5% 8.9%
Operating margin 15.7% 19.1% 15.9% 14.6% 15.5% 12.6% 12.2% 12.1% 10.8% 10.3% 9.9% −2.6% 13.1% 13.3% 10.8% 9.9% 3.2% 7.5%
Net margin 10.0% 11.9% 10.0% 9.7% 10.0% 8.4% 8.0% 8.6% 7.5% 7.7% 7.9% −1.5% 10.3% 10.2% 8.8% 7.7% 1.9% 5.4%
Free-cash-flow margin 12.1% 13.1% 6.1% 10.0% 10.2% 10.0% 8.3% 9.8% 9.1% 8.5% 12.1% 3.1% 8.2% 11.9% 10.6% 7.5% 4.7% 8.2%
Cash flow
Cash from operations 64 87 75 143 155 152 136 154 158 154 234 44 159 268 229 198 162 264
Capital spending 3 3 15 20 21 18 19 16 15 12 18 7 7 16 19 26 43 40
Free cash flow 61 83 59 123 135 134 117 138 143 142 215 38 153 252 210 172 120 224
Stock-based pay 6 8 11 17 20 19 19 20 21 21 23 23 22 24 24 27 30 31
Free cash flow after stock pay 55 75 48 106 115 115 98 118 122 121 192 15 131 227 186 146 90 194
Balance sheet
Cash 69 66 169 169 180 81 72 126 181 200 264 248 219 275 205 190 112 —
Total debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 234 125
Net debt (negative = net cash) −69 −66 −169 −169 −180 −81 −72 −126 −181 −200 −264 −248 −219 −275 −205 −190 122 —
Diluted shares 62m 64m 65m 66m 67m 64m 61m 89m 87m 86m 84m 79m 82m 78m 75m 72m 71m 72m
Returned to shareholders
Dividends — — — — — — — 0 0 47 48 12 49 66 63 61 61 61
Buybacks — 5 0 0 102 142 136 86 99 106 102 47 123 149 142 98 14 14
Total returned — 5 0 0 102 142 136 86 99 153 150 59 172 215 206 159 74 75

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 4 checks passed · June 30, 2026
What it owns · $1.8bn
Short-term assets $930mLonger-term assets $906m
What it owes, and who funded it · $1.8bn
Short-term liabilities $488mLonger-term liabilities $376mShareholders' equity $940m
  • Short-term assets cover short-term liabilities $930m of assets due within a year against $488m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $930m short-term assets against $376m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Debt is 13% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $264m of operating cash flow against $125m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Steven Madden, LTD.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$13.7M
Dividends (TTM)
$61.2M
Returned to shareholders
33%
of free cash flow
Buybacks, last 3 fiscal years
$254M
Diluted share count
+0.7%
year over year
Total shareholder yield
2.4%
dividends 1.9% + buybacks 0.4% of market value
Dividend payout ratio
41%
of net income paid out

Competitors: side by side with peers

Closest by revenue in footwear
Last 12 months unless stated SHOO CAL BIRK ONON WWW CROX Median
Revenue, last 12 months $2.7bn $2.8bn $2.3bn $3.6bn $2.0bn $4.1bn $2.5bn
Revenue growth, last 12 months 18.2% 7.3% 18.6% 38.1% 7.2% 0.7% 7.2%
Revenue growth, 3-year average 12.3% −0.1% — — −8.5% 1.3% 0.6%
Revenue growth, latest quarter 19.1% 5.6% — — 6.8% 4.6% 6.8%
Gross margin 46.1% 46.2% 59.1% 62.8% 47.1% 59.4% 48.1%
Operating margin 7.5% 3.1% 26.2% 12.5% 8.7% 22.6% 10.7%
Operating margin, 3-year average 7.9% 4.2% — — 3.0% 17.6% 8.4%
Net margin 5.4% 1.8% 16.6% 6.8% 5.5% 16.2% 6.2%
Cash from operations / revenue 9.6% 4.1% 18.3% 11.9% 9.4% 19.8% 10.8%
Free-cash-flow margin 8.2% 2.2% 14.7% 9.5% 9.0% 18.4% 9.2%
Free-cash-flow margin, 3-year average 7.8% 1.9% — — 6.3% 19.7% 8.1%
Stock pay / revenue 1.1% 0.4% −0.2% 2.2% 1.2% 1.1% 0.8%
Change in share count 0.7% −0.8% −0.6% — 2.0% −11.3% −0.6%

Median of all 10 companies we cover in footwear. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

10 footwear companies
Measure Company Peer median Rank
Revenue growth Growth 18.2% 7.3% 3 of 10
Change in growth rate Growth +2.8pp +2.4pp 3 of 10
Gross margin Profitability 46.1% 49.1% 8 of 10
Operating margin Profitability 7.5% 12.5% 8 of 10
Net margin Profitability 5.4% 6.8% 8 of 10
Free-cash-flow margin Cash generation 8.2% 9.5% 7 of 10
Stock pay as % of revenue Cash generation 1.1% 0.8% 7 of 9
Long-term debt as % of assets Balance sheet 6.8% 23.3% 1 of 5
Change in share count Balance sheet 0.7% -0.6% 6 of 9

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue YoY
Domestic Destination $1.7B ▼ 9.7%
Outside the US $856M ▲ 101.8%
Title Transfer $299M ▼ 9.9%

These categories overlap or exclude eliminations, so shares aren't shown.

From Steven Madden, LTD.'s 10-K filed March 2, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.1B
Institutions reporting
298
Shares held vs prior quarter
▼ 2.7%
Positions opened / closed
49 / 32

Top buyers and sellers, Q2 2026: 175 institutions bought and 111 sold ; the biggest buyer was Balyasny Asset Management L.P (+861K shares) and the biggest seller Morgan Stanley (−1.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $476M 11.3M 15.4% ▲ 4.7%
FMR LLC $300M 7.1M 9.7% ▼ 11.0%
Vanguard Portfolio Management LLC $193M 4.6M 6.2% ▲ 3.4%
Vanguard Capital Management LLC $139M 3.3M 4.5% ▲ 1.3%
State Street Corp $122M 2.9M 3.9% ▲ 5.1%
Nomura Asset Management International Inc. $113M 2.7M 3.7% ▼ 3.6%
Dimensional Fund Advisors LP $102M 2.4M 3.3% ▲ 2.6%
Goldman Sachs Group Inc $95.7M 2.3M 3.1% ▲ 31.4%
Geode Capital Management, LLC $80.3M 1.9M 2.6% ▼ 5.7%
T. Rowe Price Investment Management, Inc. $80.1M 1.9M 2.6% ▼ 5.8%
Morgan Stanley $72.3M 1.7M 2.3% ▼ 43.8%
Nuveen, LLC $68.1M 1.6M 2.2% ▲ 56.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Steven Madden, LTD.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $4M 20 trades by 9 insiders · 0% under pre-set plans
Net ▼ $4M net selling
Insider Date Trade Shares Price Value
Klipper Mitchell S Director August 5, 2026 Sell 3,918 $48.54 $190,180
Reed Arian Simone Director August 5, 2026 Sell 1,250 $48.76 $60,950
Varela Amelia President August 5, 2026 Sell 15,000 $48.59 $728,850
Davis Peter Allan Director August 4, 2026 Sell 525 $48.31 $25,363
Ferrara Al Director August 4, 2026 Sell 3,918 $48.26 $189,083
Reed Arian Simone Director June 15, 2026 Sell 1,100 $45.38 $49,918
Migliorini Peter Director June 15, 2026 Sell 4,000 $45.30 $181,200
Ciglar Christina Chief Product Officer June 9, 2026 Sell 5,147 $44.74 $230,277
Reed Arian Simone Director June 4, 2026 Sell 475 $43.82 $20,814
Varela Amelia President June 3, 2026 Sell 10,000 $43.45 $434,500
Davis Peter Allan Director May 22, 2026 Sell 3,030 $41.98 $127,199
Reed Arian Simone Director May 20, 2026 Sell 648 $39.97 $25,901

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 4 trades and filings

No trades in Steven Madden, LTD. disclosed in the last 12 months; 4 earlier trades on record.

  • Lamar Smith(TX):Sale (full), $1,001 - $15,000, traded October 8, 2018, filed November 8, 2018
  • Lamar Smith(TX):Purchase, $1,001 - $15,000, traded May 1, 2017, filed June 9, 2017
  • Lamar Smith(TX):Purchase, $1,001 - $15,000, traded February 4, 2016, filed March 15, 2016

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • July 30, 2026
  • May 6, 2026
  • February 25, 2026
  • November 5, 2025
  • July 30, 2025
  • May 7, 2025

Recent SEC filings

Data status

When each part of this page on Steven Madden, LTD. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Steven Madden, LTD. in brief

What does Steven Madden, LTD. do?
Steven Madden, LTD. is a US-listed company in the footwear industry. Its financial year ends in December.
What is Steven Madden, LTD.'s stock ticker?
Steven Madden, LTD. trades under the ticker SHOO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Steven Madden, LTD.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Steven Madden, LTD. reported revenue of $2.7B, 18.2% higher than a year earlier, according to its SEC filings.
What is Steven Madden, LTD.'s free cash flow?
Steven Madden, LTD.'s free-cash-flow margin is 8.2% of revenue over the trailing twelve months, ranking 7 of the 10 footwear companies we cover.
What is Steven Madden, LTD.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Steven Madden, LTD.'s free cash flow after stock-based pay gives ~$80 per share in the base case, and ~$60–$110 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Steven Madden, LTD.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., FMR LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Steven Madden, LTD. buying back stock, and does it pay a dividend?
Steven Madden, LTD. spent $13.7M on share repurchases over the trailing twelve months, and its diluted share count still rose 0.7% over the year.
What is Steven Madden, LTD.'s market cap?
On November 2, 2026, Steven Madden, LTD.'s market capitalisation was about $3.1B, with a price-to-earnings ratio of 21.1 and net debt of $0. Market figures come from third-party market data and may be delayed.
Does Steven Madden, LTD. pay a dividend?
Yes: Steven Madden, LTD. paid $61.2M in dividends over the trailing twelve months, a dividend yield of 1.92% and a payout ratio of 41.4%.
How much debt does Steven Madden, LTD. have?
Steven Madden, LTD.'s debt-to-equity ratio is 13.3%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Steven Madden, LTD.'s competitors?
In our Footwear peer group, the companies closest to Steven Madden, LTD. are Caleres Inc, Birkenstock Holding plc, On Holding AG, Wolverine World Wide Inc and Crocs, Inc. The side-by-side comparison below sets their revenue, margins and growth against Steven Madden, LTD.'s.
Are insiders buying or selling Steven Madden, LTD. stock?
Over the last 12 months, Steven Madden, LTD.'s directors and officers reported 0 open-market purchases and 20 sales on Form 4. The insider trading page charts every trade.
When is Steven Madden, LTD.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Steven Madden, LTD. announces its own schedule.