Steven Madden (SHOO) financial statements
Steven Madden reported revenue of $2.5B in fiscal 2025, up 6.8% a year over 9 years.
Net income was $49M and the operating margin 3.2%, against 12.1% in 2016.
Free cash flow was $120M, and the company returned $61M in dividends and $14M in net buybacks.
The diluted share count fell 20% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Steven Madden's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4B | $1.5B | $1.7B | $1.8B | $1.2B | $1.9B | $2.1B | $2.0B | $2.3B | $2.5B |
| Cost of revenue | $878M | $968M | $1.0B | $1.1B | $737M | $1.1B | $1.2B | $1.1B | $1.3B | $1.5B |
| Gross profit | $522M | $599M | $640M | $686M | $465M | $767M | $874M | $832M | $937M | $1.0B |
| Operating income | $169M | $170M | $173M | $177M | -$32M | $244M | $282M | $213M | $225M | $81M |
| Pre-tax income | $171M | $172M | $177M | $181M | -$30M | $242M | $282M | $221M | $230M | $78M |
| Income tax | $50M | $53M | $47M | $40M | -$12M | $50M | $65M | $47M | $55M | $29M |
| Net income | $121M | $118M | $129M | $141M | -$18M | $192M | $217M | $174M | $176M | $49M |
| EPS (diluted) | $1.35 | $1.36 | $1.50 | $1.69 | -$0.23 | $2.34 | $2.77 | $2.30 | $2.35 | $0.63 |
| Diluted shares | 89M | 87M | 86M | 84M | 79M | 82M | 78M | 75M | 72M | 71M |
| Gross margin | 37.3% | 38.7% | 38.7% | 38.8% | 39.1% | 41.4% | 41.4% | 42.2% | 41.2% | 41.6% |
| Operating margin | 12.1% | 11.0% | 10.5% | 10.0% | -2.7% | 13.1% | 13.3% | 10.8% | 9.9% | 3.2% |
| Net margin | 8.6% | 7.6% | 7.8% | 8.0% | -1.5% | 10.4% | 10.3% | 8.8% | 7.7% | 1.9% |
Balance sheet
Fiscal years, from Steven Madden's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $166M | $245M | $267M | $305M | $287M | $264M | $290M | $220M | $203M | $112M |
| Receivables | $144M | $201M | $241M | $216M | $9M | $12M | $8M | $5M | $5M | $7M |
| Inventory | $120M | $110M | $137M | $137M | $101M | $255M | $229M | $229M | $258M | $417M |
| Total current assets | $529M | $646M | $703M | $719M | $698M | $945M | $844M | $855M | $895M | $1.0B |
| Property, plant and equipment | $72M | $71M | $65M | $66M | $43M | $36M | $41M | $47M | $57M | $116M |
| Goodwill | $136M | $149M | $148M | $171M | $168M | $168M | $168M | $180M | $184M | $255M |
| Total assets | $961M | $1.1B | $1.1B | $1.3B | $1.1B | $1.4B | $1.3B | $1.3B | $1.4B | $1.9B |
| Total current liabilities | $183M | $207M | $225M | $281M | $236M | $435M | $321M | $378M | $414M | $526M |
| Long-term debt | — | — | — | — | — | — | — | — | $0 | $234M |
| Total liabilities | $220M | $248M | $258M | $437M | $347M | $535M | $414M | $500M | $536M | $1.0B |
| Shareholders' equity | $741M | $803M | $806M | $829M | $777M | $812M | $832M | $830M | $848M | $866M |
| Net debt | -$126M | -$181M | -$200M | -$264M | -$248M | -$219M | -$275M | -$205M | -$190M | $122M |
Cash flow
Fiscal years, from Steven Madden's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $154M | $158M | $154M | $234M | $44M | $159M | $268M | $229M | $198M | $162M |
| Capital spending | $16M | $15M | $12M | $18M | $7M | $7M | $16M | $19M | $26M | $43M |
| Free cash flow | $138M | $143M | $142M | $215M | $38M | $153M | $252M | $210M | $172M | $120M |
| Stock-based compensation | $20M | $21M | $21M | $23M | $23M | $22M | $24M | $24M | $27M | $30M |
| Dividends paid | $0 | $0 | $47M | $48M | $12M | $49M | $66M | $63M | $61M | $61M |
| Share buybacks (net) | -$86M | -$99M | -$106M | -$102M | -$47M | -$123M | -$149M | -$142M | -$98M | -$14M |
| Net borrowing | — | — | — | — | — | — | — | $0 | $0 | $240M |
| Free cash flow margin | 9.8% | 9.3% | 8.6% | 12.2% | 3.2% | 8.2% | 11.9% | 10.6% | 7.6% | 4.7% |
| Dividends per share | — | — | $0.55 | $0.58 | $0.16 | $0.60 | $0.85 | $0.85 | $0.85 | $0.86 |
Questions
What was Steven Madden's revenue in 2025?
$2.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Steven Madden generate?
$120M in fiscal 2025 (operating cash flow minus capital spending).
From Steven Madden's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.