STEVEN MADDEN, LTD. SHOO

Industrials SIC 3140 - Footwear, (No Rubber) NAICS Manufacturing › Leather and Allied Product Manufacturing › Footwear Manufacturing derived Nasdaq

Steven Madden, Ltd. and its subsidiaries design, source, and market fashion-forward branded and private label footwear, accessories, and apparel. We distribute our products through the wholesale channel to department stores, mass merchants, off-price retailers, shoe chains, online retailers, national chains, specialty retailers, independent stores, and clubs throughout the United States, the United Kingdom, Europe, Canada, and Mexico. Additionally, the Company operates in other international markets through its joint ventures in South Africa, the Middle East, Israel, Australia, various countries in Europe, Latin America, and certain countries in Asia, and through special distribution arrangements in various European countries, North Africa, South and Central America, and various countries within the Asia-Pacific region. We also distribute our products through our direct-to-consumer channel, which includes company-operated retail stores, third-party concessions in international markets, and e-commerce platforms, in the United States, the United Kingdom, Canada, Mexico, South Africa, the Middle East, Israel, and various countries in Europe, Latin America, and the Asia-Pacific region.

Last close 43.21 2026-10-23
Market cap $3.16B 2026-06-30 share count
52-week range 31.32 - 49.70

Valuation FY2025 figures against the last close

P/S1.3x
P/E68.6x
P/FCF26.5x
EV/EBITDA28.8x
Dividend yield1.9%
Diluted EPS0.63

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Wholesale Footwear
  • Direct-to-Consumer
  • Wholesale Accessories/Apparel
  • Other
Revenue by segment, 4 categories over 3 years. The same figures are in the table below. FY2025 Wholesale Footwear, FY2025: 1B (40.9%) 41% Wholesale Footwear Direct-to-Consumer, FY2025: 845.7M (33.4%) 33% Direct-to-Consumer Wholesale Accessories/Apparel, FY2025: 640.7M (25.3%) 25% Wholesale Accessories/Apparel Other, FY2025: 12.6M (0.5%) FY2024 Wholesale Footwear, FY2024: 1.1B (46.4%) 46% Direct-to-Consumer, FY2024: 550.2M (24.1%) 24% Wholesale Accessories/Apparel, FY2024: 662.7M (29.0%) 29% Other, FY2024: 10.7M (0.5%) FY2023 Wholesale Footwear, FY2023: 1B (52.9%) 53% Direct-to-Consumer, FY2023: 506.5M (25.6%) 26% Wholesale Accessories/Apparel, FY2023: 416.5M (21.0%) 21% Other, FY2023: 10.1M (0.5%)
Segment FY2025FY2024FY2023
Wholesale Footwear $1.04B $1.06B $1.05B
Direct-to-Consumer $845.7M $550.2M $506.5M
Wholesale Accessories/Apparel $640.7M $662.7M $416.5M
Other $12.6M $10.7M $10.1M

As the company reported it, from the “Operating Segment Information (Detail) - Table 1” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.52B$2.27B$1.97B$2.11B$1.85B$1.19B$1.77B$1.65B$1.55B$1.40B
Cost of revenue $1.48B$1.35B$1.15B$1.25B$1.10B$737.3M$1.10B$1.04B$968.4M$877.6M
Gross profit $1.05B$936.9M$832.4M$873.8M$767.5M$464.5M$686.0M$640.2M$598.7M$522.0M
Total operating expenses —————$415.0M$503.3M$466.8M$427.9M$364.6M
Operating income $80.8M$224.9M$213.2M$281.6M$243.6M-$31.6M$176.8M$173.4M$169.8M$169.2M
Interest expense $12.3M$5.5M$7.4M$676.0K$1.5M$1.6M$4.4M$4.0M$2.5M$2.5M
Pre-tax income $77.7M$230.5M$220.6M$282.3M$242.1M-$30.0M$181.2M$177.3M$172.3M$171.0M
Income tax $28.7M$54.6M$46.6M$65.1M$49.6M$11.7M$39.5M$46.8M$53.2M$49.7M
Net income $44.7M$169.4M$171.6M$216.1M$190.7M-$18.3M$141.7M$129.1M$117.9M$121.3M
EPS, basic 0.632.382.342.842.43-0.231.781.581.431.41
EPS, diluted 0.632.352.302.772.34-0.231.691.501.361.35
Shares, diluted (wtd. avg.) 71.2M72.0M74.6M78.1M81.6M78.6M83.6M86.1M86.7M89.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $112.4M$189.9M$204.6M$274.7M$219.5M$247.9M$264.1M$200.0M$181.2M$126.1M
Short-term investments $0$13.5M$15.2M$15.1M$44.0M$39.3M————
Receivables ———$248.2M$365.0M$252.7M$216.5M$241.4M$201.4M$144.2M
Inventory $417.0M$257.6M$229.0M$228.8M$255.2M$101.4M$136.9M$137.2M$110.3M$119.8M
Total current assets $1.00B$894.7M$854.8M$843.6M$944.7M$698.2M$718.9M$703.1M$645.5M$528.7M
Property, plant and equipment $115.8M$57.4M$47.2M$40.7M$35.8M$43.3M$65.5M$64.8M$71.5M$72.4M
Goodwill $254.5M$183.7M$180.0M$168.1M$168.0M$168.3M$171.3M$148.1M$148.5M$135.7M
Other intangibles $281.4M$113.4M$126.3M$101.2M$112.1M$115.2M$162.7M$143.3M$151.3M$144.4M
Total assets $1.91B$1.41B$1.35B$1.26B$1.36B$1.14B$1.28B$1.07B$1.06B$960.9M
Accounts payable $197.2M$206.9M$161.1M$130.5M$136.8M$73.9M$61.7M$79.8M$67.0M$80.6M
Total current liabilities $525.7M$413.7M$377.6M$320.9M$435.2M$235.9M$281.3M$224.7M$206.6M$183.1M
Long-term debt $234.2M$0————————
Total liabilities $1.01B$535.8M$499.9M$414.1M$535.0M$347.4M$437.4M$257.9M$248.2M$219.8M
Retained earnings $1.77B$1.79B$1.68B$1.57B$1.42B$1.28B$1.31B$1.22B$1.14B$1.02B
Total equity $866.4M$847.7M$848.0M$843.9M$820.5M$790.4M$841.2M$814.7M$808.9M$741.1M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $162.2M$198.1M$229.2M$267.9M$159.5M$44.2M$233.8M$154.4M$157.9M$153.6M
Depreciation and amortisation $33.4M$20.0M$15.5M$20.6M$15.2M$17.4M$21.3M$22.5M$21.4M$21.1M
Stock-based compensation $29.6M$26.5M$24.1M$24.4M$22.3M$22.6M$23.2M$21.1M$20.8M$19.5M
Capital expenditure $42.7M$25.9M$19.5M$16.4M$6.6M$6.6M$18.3M$12.4M$14.8M$15.9M
Investing cash flow -$400.9M-$39.5M-$99.9M$5.5M-$3.2M-$4.9M-$27.7M$11.1M-$13.4M-$3.9M
Financing cash flow $157.1M-$167.9M-$200.9M-$215.8M-$184.7M-$57.1M-$142.2M-$145.8M-$90.3M-$95.5M
Dividends paid $61.0M$61.0M$63.2M$66.0M$49.2M$12.5M$48.4M$47.3M$0$0
Buybacks $13.5M$98.4M$142.3M$148.9M$123.2M$46.6M$101.8M$105.9M$99.4M$86.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-015299.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B Revenue, FY2016: 1.4B Gross profit, FY2016: 522M Net income, FY2016: 121.3M Revenue, FY2017: 1.5B Gross profit, FY2017: 598.7M Net income, FY2017: 117.9M Revenue, FY2018: 1.7B Gross profit, FY2018: 640.2M Net income, FY2018: 129.1M Revenue, FY2019: 1.8B Gross profit, FY2019: 686M Net income, FY2019: 141.7M Revenue, FY2020: 1.2B Gross profit, FY2020: 464.5M Net income, FY2020: -18.3M Revenue, FY2021: 1.9B Gross profit, FY2021: 767.5M Net income, FY2021: 190.7M Revenue, FY2022: 2.1B Gross profit, FY2022: 873.8M Net income, FY2022: 216.1M Revenue, FY2023: 2B Gross profit, FY2023: 832.4M Net income, FY2023: 171.6M Revenue, FY2024: 2.3B Gross profit, FY2024: 936.9M Net income, FY2024: 169.4M Revenue, FY2025: 2.5B Gross profit, FY2025: 1B Net income, FY2025: 44.7M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.40B $1.55B $1.65B $1.77B $1.19B $1.85B $2.11B $1.97B $2.27B $2.52B
Gross profit $522.0M $598.7M $640.2M $686.0M $464.5M $767.5M $873.8M $832.4M $936.9M $1.05B
Net income $121.3M $117.9M $129.1M $141.7M -$18.3M $190.7M $216.1M $171.6M $169.4M $44.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event Item 8.01
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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