Steven MADDEN, Ltd. (SHOO) intrinsic value & 10-year financials
Steven MADDEN, Ltd. (SHOO) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 6.8% a year to $2.5B, with an average return on invested capital of 19.4%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $45.27
- Market cap
- $3.2B
- Revenue (FY2025)
- $2.5B
- Revenue growth (10-yr CAGR)
- 6.8%
- ROIC (10-yr avg)
- 19.4%
- Free cash flow (FY2025)
- $119.5M
SHOO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.5B | $49.0M | $0.63 | $119.5M | 3.2% | 5.2% |
| FY2024 | $2.3B | $175.9M | $2.35 | $172.2M | 9.9% | 23.0% |
| FY2023 | $2.0B | $174.0M | $2.30 | $209.8M | 10.8% | 24.7% |
| FY2022 | $2.1B | $217.2M | $2.77 | $251.5M | 13.3% | 33.1% |
| FY2021 | $1.9B | $192.5M | $2.34 | $152.9M | 13.1% | 29.8% |
| FY2020 | $1.2B | -$18.4M | -$0.23 | $37.6M | -2.7% | -2.9% |
| FY2019 | $1.8B | $141.3M | $1.69 | $215.5M | 10.0% | 21.2% |
| FY2018 | $1.7B | $129.1M | $1.50 | $141.9M | 10.5% | 21.0% |
| FY2017 | $1.5B | $117.9M | $2.04 | $143.2M | 11.0% | — |
| FY2016 | $1.4B | $120.9M | $2.03 | $137.7M | 12.1% | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
STEVEN MADDEN, LTD. has demonstrated mature, steady growth, with revenue compounding at 6.8% annually over the past decade.
STEVEN MADDEN, LTD. has earned high returns on invested capital, averaging 19.4% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
STEVEN MADDEN, LTD. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, STEVEN MADDEN, LTD. is modeled at -12.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-8.63 per share.