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Steven Madden
(NASDAQ:SHOO)
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Rating:64Neutral
Price Target:
$46.00
▲(7.60% Upside)
Action:Reiterated
Date:07/30/26
SHOO’s score is driven primarily by mixed financial performance (cash flow strength offset by compressed margins and higher leverage) and a positive earnings call with raised guidance and improving margins. Technicals are mildly favorable based on moving averages, while valuation is the main drag due to the high P/E.
Positive Factors
Strong cash generation
Sustained, sizable operating and free cash flow provides durable financial flexibility: supports debt reduction, dividends and marketing reinvestment without relying on external financing. High FCF conversion versus earnings improves resilience through cycles and funds strategic initiatives over the next 2–6 months.
Negative Factors
Rising leverage trend
Higher leverage reduces financial flexibility and raises interest and refinancing risk, constraining capital allocation. With ROE notably below historical peaks, the company has less buffer to absorb shocks or fund growth organically, elevating execution risk over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained, sizable operating and free cash flow provides durable financial flexibility: supports debt reduction, dividends and marketing reinvestment without relying on external financing. High FCF conversion versus earnings improves resilience through cycles and funds strategic initiatives over the next 2–6 months.
Read all positive factors
Steven Madden (SHOO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.55B
Dividend Yield1.73%
Average Volume (3M)952.75K
Price to Earnings (P/E)24.0
Beta (1Y)1.14
Revenue Growth18.33%
EPS Growth56.39%
CountryUS
Employees6,300
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)2.02
Shares Outstanding73,177,090
10 Day Avg. Volume1,054,057
30 Day Avg. Volume952,745
Financial Highlights & Ratios
PEG Ratio-0.90
Price to Book (P/B)3.41
Price to Sales (P/S)1.17
P/FCF Ratio24.69
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$51.13Price Target Upside19.59% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)2.18
Revenue Forecast (FY)$2.87B
Steven Madden Business Overview & Revenue Model
Company Description
Steven Madden, Ltd. (SHOO) is a prominent global fashion company dedicated to the design, production, marketing, and sale of contemporary footwear, accessories, and apparel. The firm offers both its own branded products and private label items, ca...
How the Company Makes Money
Steven Madden makes money primarily by selling footwear and related fashion products through two main channels: wholesale and direct-to-consumer (DTC). (1) Wholesale revenue is generated by selling products to third-party retailers (e.g., departme...
Steven Madden Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call communicated strong top-line and margin improvement in Q2 with significant brand momentum—particularly at Steve Madden, Dolce Vita and progress at Kurt Geiger—leading to raised full-year revenue and EPS guidance. Profitability materially improved (gross margin expansion, operating income and EPS more than doubled), balance sheet was strengthened via tariff refunds used to pay down debt, and management increased marketing investments to support continued brand growth. Offsetting these positives were persistent external cost pressures (freight, tariffs and supplier costs) that introduced a $0.06 EPS headwind to the back half, ongoing weakness in private-label business (expected mid- to high-teens decline), international/geopolitical exposure, and the lapping of Kurt Geiger-related inorganic benefits, which moderates back-half margin upside. On balance, the strong operational and financial improvements outweigh the risks and pressures discussed.Positive Updates
Consolidated Revenue Growth
Consolidated revenue of $665.9 million in Q2, up 19.1% year-over-year; excluding the Kurt Geiger acquisition, revenue increased 11.2%.
Negative Updates
Tariff, Freight and Cost Pressures
Ongoing Middle East conflict and related logistics disruptions increased air freight and supplier cost pressure, prompting the company to add an estimated $0.06 of EPS headwind for the back half of the year and to assume elevated tariff impact (company modeling ~15% tariff for Q4 given pending investigations).
Read all updates
Q2-2026 Updates
Positive
Negative
Consolidated Revenue Growth
Consolidated revenue of $665.9 million in Q2, up 19.1% year-over-year; excluding the Kurt Geiger acquisition, revenue increased 11.2%.
Read all positive updates
Company Guidance
Management raised 2026 guidance, now expecting consolidated revenue up 11%–13% (vs prior 10%–12%) and diluted EPS of $2.05–$2.15 (vs prior $2.00–$2.10), with a more typical cadence where Q3 will contribute more than Q4 to back‑half revenue and earnings; Steve Madden brand revenue is now guided to high single‑digit growth vs 2025, Kurt Geiger pro‑forma revenue to mid‑teens, and Dolce Vita to high single‑digit to low double‑digit growth. Channel and mix assumptions: full‑year DTC (ex‑KG) is expected to be high single‑digits (with KG driving low‑ to mid‑20s), wholesale (ex‑KG) low single‑digits (with KG mid‑single‑digits), branded wholesale up high single‑digits while private label is expected down mid‑ to high‑teens. Margin/expense assumptions include year‑over‑year gross margin improvement each quarter but smaller gains in the back half, SG&A at ~38.3% of revenue for the year with increased brand marketing, an added $0.06 per‑share freight headwind built into the outlook, Q3 reflecting newly announced 301 tariffs (Brazil 10%–12.5%) and Q4 modeled at ~15%, and the company absorbing higher consumer shipping costs; the Board also approved a $0.21 quarterly dividend payable September 24, 2026.Steven Madden Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.74B | 2.52B | 2.28B | 1.98B | 2.12B | 1.87B |
| Gross Profit | 1.26B | 1.04B | 936.93M | 832.41M | 873.84M | 767.50M |
| EBITDA | 243.62M | 123.46M | 258.01M | 235.24M | 308.03M | 262.86M |
| Net Income | 143.26M | 44.66M | 169.39M | 171.55M | 216.06M | 190.68M |
Balance Sheet | ||||||
| Total Assets | 1.84B | 1.91B | 1.41B | 1.35B | 1.26B | 1.36B |
| Cash, Cash Equivalents and Short-Term Investments | 94.74M | 112.42M | 203.41M | 219.81M | 289.80M | 263.54M |
| Total Debt | 377.14M | 486.14M | 152.99M | 138.88M | 108.63M | 110.83M |
| Total Liabilities | 863.96M | 1.01B | 535.77M | 499.91M | 414.13M | 535.00M |
| Stockholders Equity | 939.60M | 866.39M | 847.72M | 829.60M | 831.55M | 812.10M |
Cash Flow | ||||||
| Free Cash Flow | 218.12M | 119.54M | 172.19M | 209.77M | 249.53M | 152.85M |
| Operating Cash Flow | 257.67M | 162.20M | 198.10M | 229.24M | 267.88M | 159.46M |
| Investing Cash Flow | -23.91M | -400.92M | -39.49M | -99.89M | 5.52M | -3.21M |
| Financing Cash Flow | -244.81M | 157.15M | -167.91M | -200.94M | -215.83M | -184.65M |
Steven Madden Technical Analysis
Positive
42.75
Price Trends
43.70
Positive
40.42
Positive
39.90
Positive
Market Momentum
1.67
Negative
65.26
Neutral
86.86
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SHOO, the sentiment is Positive. The current price of 42.75 is below the 20-day moving average (MA) of 44.86, below the 50-day MA of 43.70, and above the 200-day MA of 39.90, indicating a bullish trend. The MACD of 1.67 indicates Negative momentum. The RSI at 65.26 is Neutral, neither overbought nor oversold. The STOCH value of 86.86 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SHOO.
Steven Madden Risk Analysis
Steven Madden disclosed 30 risk factors in its most recent earnings report. Steven Madden 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
Steven Madden Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $440.10M | 12.55 | 14.04% | 8.08% | -0.32% | 35.29% | |
71 Outperform | $1.55B | 15.14 | 26.91% | 2.10% | 8.31% | 39.91% | |
69 Neutral | $368.83M | 12.82 | 11.38% | 1.57% | 9.24% | 54.03% | |
68 Neutral | $6.55B | 11.72 | 43.41% | ― | -2.03% | 205.97% | |
64 Neutral | $3.55B | 24.05 | 16.05% | 1.96% | 18.33% | 56.39% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
50 Neutral | $487.05M | 1,450.00 | 0.05% | 2.38% | 4.95% | -100.25% |
* Consumer Cyclical Sector Average
SHOO
Steven Madden
48.58
24.51
101.86%
CROX
Crocs
136.62
60.06
78.45%
RCKY
Rocky Brands
49.23
23.88
94.22%
WEYS
Weyco Group
46.17
18.37
66.10%
WWW
Wolverine World Wide
18.93
-7.25
-27.70%
CAL
Caleres
14.50
1.07
7.96%
Steven Madden Corporate Events
Business Operations and StrategyExecutive/Board ChangesDividendsFinancial Disclosures
Steve Madden boosts outlook amid strong quarterly rebound
Positive
Jul 30, 2026
On July 30, 2026, Steve Madden reported a strong rebound in its second quarter, with revenue up 19.1% year on year to $665.9 million and net income swinging to a $27.7 million profit from a loss a year earlier. Margin expansion in both wholesale a...
Executive/Board ChangesShareholder Meetings
Steven Madden Shareholders Back Board, Auditor and Pay
Positive
May 21, 2026
Steven Madden, Ltd., a fashion footwear and accessories company, held its 2026 Annual Meeting of Stockholders on May 20, 2026, with 67,169,363 shares represented, constituting a quorum. Shareholders voted on director elections, auditor ratificatio...
Business Operations and StrategyDividendsFinancial Disclosures
Steven Madden Lifts 2026 Outlook After Strong Q1
Positive
May 6, 2026
On May 6, 2026, Steven Madden reported first-quarter 2026 results showing revenue up 18% year-on-year to $653.1 million, with gross margin expanding sharply but adjusted operating income and adjusted net income declining versus 2025. The quarter h...
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.