Steven Madden (SHOO)
NASDAQ:SHOO
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Steven Madden
(NASDAQ:SHOO)
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Rating:66Neutral
Price Target:
$44.00
▲(10.55% Upside)
Action:Reiterated
Date:05/22/26
The score is driven primarily by weakening underlying profitability, higher leverage, and softer free-cash-flow momentum despite stable top-line trends. Offsetting this are constructive technical momentum and an attractive valuation (low P/E with a dividend), plus an earnings-call backdrop of raised revenue guidance and introduced EPS guidance tempered by near-term cost and macro (tariff/geopolitical) headwinds.
Positive Factors
Direct-to-Consumer Strength
A materially stronger DTC channel increases margin capture, customer data ownership, and brand control. Sustained DTC growth and high e‑commerce/store comps support durable revenue diversification away from volatile wholesale, improving long‑term unit economics and customer lifetime value.
Negative Factors
Rising Leverage
Material increase in leverage reduces financial flexibility and raises interest and covenant risk if profits stay pressured. Management has prioritized debt paydown for tariff refunds, signaling constrained capital allocation that can limit share buybacks, M&A agility, or reinvestment until deleveraging progresses.
Read all positive and negative factors
Positive Factors
Negative Factors
Direct-to-Consumer Strength
A materially stronger DTC channel increases margin capture, customer data ownership, and brand control. Sustained DTC growth and high e‑commerce/store comps support durable revenue diversification away from volatile wholesale, improving long‑term unit economics and customer lifetime value.
Read all positive factors
Steven Madden (SHOO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.17B
Dividend Yield1.97%
Average Volume (3M)1.07M
Price to Earnings (P/E)40.6
Beta (1Y)1.18
Revenue Growth15.48%
EPS Growth-54.34%
CountryUS
Employees3,500
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)1.07
Shares Outstanding73,085,434
10 Day Avg. Volume965,506
30 Day Avg. Volume1,067,915
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 Cap1.15
Enterprise Value/Revenue1.38
Enterprise Value/Gross Profit3.09
Enterprise Value/Ebitda23.49
Forecast
1Y Price Target
$47.43Price Target Upside19.17% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)2.12
Revenue Forecast (FY)$2.82B
Steven Madden Business Overview & Revenue Model
Company Description
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides fo...
How the Company Makes Money
Steven Madden makes money primarily by selling footwear and accessories through two main channels: (1) wholesale and (2) direct-to-consumer. In the wholesale business, the company sells products to third-party retailers (such as department stores,...
Steven Madden Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Neutral
The call presented a mixed but constructive picture: strong consolidated revenue growth (largely driven by the Kurt Geiger acquisition), robust DTC performance, meaningful gross margin expansion, and an upward revision to full-year revenue guidance with newly introduced EPS guidance. However, Q1 profitability declined (lower operating income and EPS), SG&A rose materially due to acquisition-related and incentive/warehouse costs, organic revenue (ex-Kurt Geiger) softened due to private label and handbag weakness, inventory and regional (Middle East) disruptions pose risks, and tariff/freight headwinds remain. On balance the company emphasized momentum, raised guidance, and outlined a path back to earnings growth, but near-term profit and cost pressures and geopolitical/tariff uncertainties temper the outlook.Positive Updates
Consolidated Revenue Growth (Including Kurt Geiger)
Consolidated revenue of $653.1 million, up 18% year-over-year, driven primarily by the Kurt Geiger acquisition.
Negative Updates
Organic Revenue Decline (Excluding Kurt Geiger)
Excluding Kurt Geiger, consolidated revenue decreased 4.8% in Q1, driven by softness in private label and lower Steven Madden handbag revenue in U.S. wholesale.
Read all updates
Q1-2026 Updates
Positive
Negative
Consolidated Revenue Growth (Including Kurt Geiger)
Consolidated revenue of $653.1 million, up 18% year-over-year, driven primarily by the Kurt Geiger acquisition.
Read all positive updates
Company Guidance
Management raised FY2026 revenue guidance to +10–12% (from 9–11%) and introduced EPS guidance of $2.00–$2.10, saying they expect to return to earnings growth in Q2 and deliver strong full‑year top‑ and bottom‑line growth; brand-level targets are Steven Madden mid‑ to high‑single‑digit revenue growth, Kurt Geiger mid‑teens pro‑forma growth (low‑600s revenue run‑rate) and Dolce Vita high‑single‑digit growth. The company built tariff assumptions into the guide (Section 122 tariffs of 10% through end‑July, 15% thereafter) and modeled ~30 basis points of freight pressure (ocean EBS and higher air freight); Kurt Geiger EBIT margin is expected to improve ~100 bps in 2026 versus 2025 with a long‑term goal of double‑digit (branded mid‑teens) margins. SG&A (including Kurt Geiger) was up 50.2% in Q1 and is expected to moderate to roughly +25% in Q2, low‑teens in Q3 and high‑single‑digits in Q4; other relevant metrics disclosed alongside the guidance: Q1 consolidated gross margin 46.3% (+540 bps YoY), Q1 CapEx $5.9M, net debt $209.3M (debt $286.5M, cash $77.2M), and a quarterly cash dividend of $0.21 per share payable June 19, 2026.Steven Madden Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
60
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.63B | 2.52B | 2.28B | 1.98B | 2.12B | 1.87B |
| Gross Profit | 1.18B | 1.04B | 936.93M | 832.41M | 873.84M | 767.50M |
| EBITDA | 154.90M | 123.46M | 258.01M | 235.24M | 308.03M | 262.86M |
| Net Income | 76.06M | 44.66M | 169.39M | 171.55M | 216.06M | 190.68M |
Balance Sheet | ||||||
| Total Assets | 1.95B | 1.91B | 1.41B | 1.35B | 1.26B | 1.36B |
| Cash, Cash Equivalents and Short-Term Investments | 77.16M | 112.42M | 203.41M | 219.81M | 289.80M | 263.54M |
| Total Debt | 540.32M | 486.14M | 152.99M | 138.88M | 108.63M | 110.83M |
| Total Liabilities | 1.01B | 1.01B | 535.77M | 499.91M | 414.13M | 535.00M |
| Stockholders Equity | 913.15M | 866.39M | 847.72M | 829.60M | 831.55M | 812.10M |
Cash Flow | ||||||
| Free Cash Flow | 86.98M | 119.54M | 172.19M | 209.77M | 249.53M | 152.85M |
| Operating Cash Flow | 125.69M | 162.20M | 198.10M | 229.24M | 267.88M | 159.46M |
| Investing Cash Flow | -405.81M | -400.92M | -39.49M | -99.89M | 5.52M | -3.21M |
| Financing Cash Flow | 209.47M | 157.15M | -167.91M | -200.94M | -215.83M | -184.65M |
Steven Madden Technical Analysis
Positive
39.80
Price Trends
37.75
Positive
38.54
Positive
36.98
Positive
Market Momentum
1.46
Negative
69.54
Neutral
92.78
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 39.8 is below the 20-day moving average (MA) of 39.99, above the 50-day MA of 37.75, and above the 200-day MA of 36.98, indicating a bullish trend. The MACD of 1.46 indicates Negative momentum. The RSI at 69.54 is Neutral, neither overbought nor oversold. The STOCH value of 92.78 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $336.39M | 14.04 | 9.63% | 9.66% | -3.70% | -18.57% | |
66 Neutral | $3.17B | 40.64 | 8.78% | 1.97% | 15.48% | -54.34% | |
64 Neutral | $1.44B | 13.80 | 26.91% | 2.28% | 8.31% | 39.91% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $5.90B | -57.52 | -7.54% | ― | -1.85% | -108.05% | |
61 Neutral | $491.27M | -67.12 | -1.16% | 2.11% | 1.29% | -107.28% | |
57 Neutral | $291.55M | 15.67 | 7.51% | 2.08% | 8.21% | 34.42% |
* Consumer Cyclical Sector Average
SHOO
Steven Madden
43.44
19.81
83.86%
CROX
Crocs
118.67
17.25
17.01%
RCKY
Rocky Brands
38.66
16.19
72.05%
WEYS
Weyco Group
35.29
6.22
21.38%
WWW
Wolverine World Wide
17.55
1.28
7.89%
CAL
Caleres
14.56
1.66
12.87%
Steven Madden Corporate Events
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...
Business Operations and StrategyDividendsFinancial Disclosures
Steve Madden Posts Strong Sales, Adds New Quarterly Dividend
Negative
Feb 25, 2026
On February 25, 2026, Steve Madden reported fourth-quarter and full-year 2025 results showing strong top-line growth but weaker profitability, alongside a new quarterly dividend. Fourth-quarter revenue rose 29.4% year-on-year to $753.7 million and...
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.