Quality Investor

Steven Madden, Ltd.

Rank #57Capital ReturnWatchlistCompare with other stocks

SHOO · Nasdaq · Consumer Cyclical

Steven Madden, Ltd. (SHOO) — Rank #57 by gross profitability (GP/assets 0.57) · ROE 5.2% · Piotroski F-Score 5 / 9.

As-of 2026-10-30 · CIK 0000913241 · all metrics point-in-time as of the filing date.

About

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally.

Show more

It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The company designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes; and handbags, apparel, small leather goods, belts, soft accessories, fashion scarves, wraps, gifting, and other accessories. It also engages in the sale of footwear, handbags, apparel, and other accessories. In addition, the company is involved in the licensing of the Steve Madden, Kurt Geiger, and Betsey Johnson trademarks for the sale of select apparel, accessory, home categories, and other non-core products. It sells its products under the Steve Madden, Kurt Geiger London, Dolce Vita, Betsey Johnson, Blondo, Carvela, Anthony Thomas Melillo (ATM), and Anne Klein brands. The company distributes its products in the wholesale channel through department stores, mass merchants, off-price retailers, shoe chains, online retailers, national chains, specialty retailers, independent stores, and clubs, as well as through direct-to-consumer channel, which includes company-operated retail stores and e-commerce websites. It markets its products through email, social media, influencer partnerships, print, experiential events, and public relations.

The company was incorporated in 1990 and is headquartered in Long Island City, New York.

Industry
Footwear & Accessories
Sector
Consumer Cyclical
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

4,200

Industry

Footwear & Accessories

Exchange

Nasdaq

10/12

Flags passed

SHOO fails 2 critical flags

Passes 10 of 12 quality flags

  • FAIL
    Operating margin declining

    Operating margin lower than prior year

  • FAIL
    Balance sheet deteriorating

    Net cash collapsed with receivables or inventory outpacing revenue

  • PASS
    Gross margin holding
  • PASS
    Dilution within 2%
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Sequential beat (rev + EPS)

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.57
Return on equity
5.2%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.89
Current ratio
1.91×
Net cash
-$12.41M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
1.2%

Growth

2/2 pass
Revenue growth
11.0%
Piotroski F-Score
5 / 9
Share dilution
-1.1%

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Does it make money well?

Warning: Operating margin declining · GP/assets 0.57

Gross profitability (GP / assets)

0.57

Primary signal (Novy-Marx).

Return on equity

5.2%

Gross margin

41.4%

Revenue growth (YoY)

11.0%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

6.1%

Revenue CAGR (5Y)

16.1%

Earnings CAGR (3Y)

-39.1%

FCF CAGR (3Y)

-22.0%

Cash Flow Health

Is the cash real?

No warning flags · FCF 144% above net income

Free cash flow

$119.54M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

143.9%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

1.2%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

Warning: Balance sheet deteriorating · net debt $12.41M, F-Score 5/9

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.89

Current ratio

1.91×

Quick ratio

0.25×

Net cash

-$12.41M

Cash & equivalents minus total debt.

Piotroski F-Score

5 / 9

Fundamental-strength score (0-9).

Valuation

Is the price reasonable?

No warning flags

Dividend safety

Composite score

1.2 / 5

Weak
Payout ratio
124.4%0/5 Weak
FCF coverage
1.96×3/5 Good
Dividend growth streak
0 yr0/5 Weak
Balance-sheet health
D/E 0.89 · IC N/A2/5 Fair

Capital allocation quality

Composite score

1.0 / 5

Weak
Share count trend(net buybacks)
-1.1%3/5 Good
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr0/5 Weak
Net debt trajectory
-17.3%0/5 Weak

Lifecycle Phase History

20202025
Decline
Hypergrowth
Capital Return

Price History

SHOO+21.4% · +3.9% CAGRSPY+82.9% · +12.8% CAGR