NasdaqGS:SHOO

Stock Analysis Report

Executive Summary

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children in the United States and internationally.


Snowflake Analysis

Flawless balance sheet with solid track record.


Similar Companies

Share Price & News

How has Steven Madden's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SHOO's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.7%

SHOO

11.5%

US Luxury

5.3%

US Market


1 Year Return

-31.4%

SHOO

-20.2%

US Luxury

-10.7%

US Market

Return vs Industry: SHOO underperformed the US Luxury industry which returned -18.7% over the past year.

Return vs Market: SHOO underperformed the US Market which returned -10.4% over the past year.


Shareholder returns

SHOOIndustryMarket
7 Day0.7%11.5%5.3%
30 Day-29.2%-14.5%-13.6%
90 Day-46.3%-27.8%-19.8%
1 Year-30.3%-31.4%-18.6%-20.2%-8.9%-10.7%
3 Year-1.3%-5.0%26.5%20.6%15.5%8.0%
5 Year-7.9%-11.3%7.9%0.5%35.2%20.4%

Price Volatility Vs. Market

How volatile is Steven Madden's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Steven Madden undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SHOO ($22.88) is trading below our estimate of fair value ($71.49)

Significantly Below Fair Value: SHOO is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SHOO is poor value based on its PE Ratio (12.9x) compared to the Luxury industry average (10.9x).

PE vs Market: SHOO is good value based on its PE Ratio (12.9x) compared to the US market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: SHOO is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: SHOO is overvalued based on its PB Ratio (2.3x) compared to the US Luxury industry average (0.8x).


Next Steps

Future Growth

How is Steven Madden forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

14.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SHOO's forecast earnings growth (14.5% per year) is above the savings rate (1.7%).

Earnings vs Market: SHOO's earnings (14.5% per year) are forecast to grow faster than the US market (12.2% per year).

High Growth Earnings: SHOO's earnings are forecast to grow, but not significantly.

Revenue vs Market: SHOO's revenue (3.4% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: SHOO's revenue (3.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if SHOO's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Steven Madden performed over the past 5 years?

5.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SHOO has high quality earnings.

Growing Profit Margin: SHOO's current net profit margins (7.9%) are higher than last year (7.7%).


Past Earnings Growth Analysis

Earnings Trend: SHOO's earnings have grown by 5.5% per year over the past 5 years.

Accelerating Growth: SHOO's earnings growth over the past year (9.4%) exceeds its 5-year average (5.5% per year).

Earnings vs Industry: SHOO earnings growth over the past year (9.4%) exceeded the Luxury industry 3.2%.


Return on Equity

High ROE: SHOO's Return on Equity (16.8%) is considered low.


Next Steps

Financial Health

How is Steven Madden's financial position?


Financial Position Analysis

Short Term Liabilities: SHOO's short term assets ($718.9M) exceed its short term liabilities ($281.3M).

Long Term Liabilities: SHOO's short term assets ($718.9M) exceed its long term liabilities ($156.2M).


Debt to Equity History and Analysis

Debt Level: SHOO is debt free.

Reducing Debt: SHOO has no debt compared to 5 years ago when its debt to equity ratio was 0.02%.

Debt Coverage: SHOO has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: SHOO has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: SHOO has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if SHOO's debt is covered by short term assets.


Next Steps

Dividend

What is Steven Madden's current dividend yield, its reliability and sustainability?

2.59%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SHOO's dividend (2.62%) is higher than the bottom 25% of dividend payers in the US market (1.95%).

High Dividend: SHOO's dividend (2.62%) is low compared to the top 25% of dividend payers in the US market (5.4%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, SHOO has been paying a dividend for less than 10 years.

Growing Dividend: SHOO's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.1%), SHOO's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SHOO's dividends in 3 years are forecast to be well covered by earnings (27.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

8.1yrs

Average management tenure


CEO

Ed Rosenfeld (43yo)

11.67s

Tenure

US$7,090,068

Compensation

Mr. Edward R. Rosenfeld, also known as Ed, has been Chief Executive Officer of Steven Madden, Ltd. since August 8, 2008 and has been a Member of its Executive Management Team since joining in May 2005. Mr. ...


CEO Compensation Analysis

Compensation vs Market: Ed's total compensation ($USD7.09M) is above average for companies of similar size in the US market ($USD4.58M).

Compensation vs Earnings: Ed's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Edward Rosenfeld
Chairman & CEO11.67yrsUS$7.09m1.15% $22.5m
Amelia Varela
President & Director4.25yrsUS$936.17k0.20% $3.8m
Arvind Dharia
CFO, Chief Accounting Officer & Secretary27.5yrsUS$1.51m0.10% $2.0m
Awadhesh Sinha
Chief Operating Officer14.75yrsUS$1.08m0.058% $1.1m
Karla Frieders
Chief Merchandising Officer4.58yrsUS$1.17m0.12% $2.3m
Steven Madden
Founder and Creative & Design Chiefno dataUS$591.52k6.31% $122.8m
Danielle McCoy
Director of Corporate Development & Investor Relationsno datano datano data
Lisa Keith
General Counsel0.42yrno data0.0082% $160.2k

8.1yrs

Average Tenure

54.5yo

Average Age

Experienced Management: SHOO's management team is seasoned and experienced (8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Edward Rosenfeld
Chairman & CEO11.67yrsUS$7.09m1.15% $22.5m
Amelia Varela
President & Director4.25yrsUS$936.17k0.20% $3.8m
Mitchell Klipper
Independent Director2yrsUS$184.77k0.0088% $170.3k
Richard Randall
Independent Director14yrsUS$241.02k0.045% $881.3k
Rose Lynch
Independent Director6yrsUS$216.02k0.010% $196.0k
Peter Migliorini
Lead Director15.17yrsUS$226.02k0.013% $259.3k
Ravi Sachdev
Independent Director11.58yrsUS$206.02k0.074% $1.4m
Thomas Schwartz
Independent Director15.92yrsUS$206.02k0.013% $255.8k
Al Ferrara
Independent Director0.75yrno data0.0012% $23.2k
Robert Smith
Independent Director6yrsUS$216.02k0.014% $269.8k

8.8yrs

Average Tenure

64.5yo

Average Age

Experienced Board: SHOO's board of directors are considered experienced (8.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Steven Madden, Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Steven Madden, Ltd.
  • Ticker: SHOO
  • Exchange: NasdaqGS
  • Founded: 1990
  • Industry: Footwear
  • Sector: Consumer Durables
  • Market Cap: US$1.947b
  • Shares outstanding: 83.80m
  • Website: https://www.stevemadden.com

Number of Employees


Location

  • Steven Madden, Ltd.
  • 52-16 Barnett Avenue
  • Long Island City
  • New York
  • 11104
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SHOONasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDDec 1993
SJMDB (Deutsche Boerse AG)YesCommon StockDEEURDec 1993

Biography

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, GREATS, Blondo, and Anne Klein brands, as well as private label footwear. The company’s Wholesale Accessories segment offers Steve Madden, Steven by Steve Madden, Madden Girl, Betsey Johnson, Madden NYC, Big Buddha, DKNY, Anne Klein, Jocelyn, Luv Betsey, BB Dakota, Cupcakes & Cashmere, and accessories brands; private label fashion handbags and accessories to department stores, mass merchants, value priced retailers, online retailers, and specialty stores; and cold weather accessories, fashion scarves, wraps, and other trend accessories primarily under the Steve Madden, BB Dakota, Cejon, Betsey Johnson, and Big Buddha brand names, as well as private labels to department stores and specialty stores. Its Retail segment operates Steve Madden, Steven, Superga, GREATS, and International retail stores, as well as Steve Madden, Superga, Betsey Johnson, Blondo, Dolce Vita, BB Dakota, and Jocelyn e-commerce websites. The company’s Licensing segment licenses its Steve Madden, Steven by Steve Madden, Madden Girl, and FREEBIRD by Steven trademarks. Its First Cost segment operates as a buying agent for footwear products under private labels for mass-market merchandisers, shoe chains, and other mid-tier retailers. As of December 31, 2019, it owned and operated 227 retail stores, including 146 Steve Madden full-price stores, 68 Steve Madden outlet stores, 2 Steven stores, 2 GREATS stores, and 1 Superga store, as well as 8 e-commerce websites. Steven Madden, Ltd. was founded in 1990 and is headquartered in Long Island City, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/01 01:25
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.