Steven Madden Ltd. (SHOO) financial statements: income statement, balance sheet and cash flow
Steven Madden Ltd.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Steven Madden Ltd. reported revenue of $2.5B (+11.0% year on year) and net income of $49.0M (-72.1% year on year).
Income statement
Steven Madden Ltd. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net sales
$2.5B
$2.3B
$2.0B
$2.1B
Commission and licensing fee income
$12.6M
$10.7M
$10.1M
$10.7M
Total revenue
$2.5B
$2.3B
$2.0B
$2.1B
Cost of sales (exclusive of depreciation and amortization)
$1.5B
$1.3B
$1.1B
$1.2B
Gross profit
$1.0B
$936.9M
$832.4M
$873.8M
Operating expenses
($968.0M)
($698.9M)
($612.7M)
($592.2M)
Change In Valuation of Contingent Payment Liability
($5.6M)
$2.7M
—
—
Impairment of intangibles
$6.3M
$10.3M
$6.5M
$0
Income from operations
$80.8M
$224.9M
$213.2M
$281.6M
Gain on derivative
$9.3M
—
—
—
Interest and other (expense) / income - net
($12.3M)
$5.5M
$7.4M
$676.0K
Income before provision for income taxes
$77.7M
$230.5M
$220.6M
$282.3M
Provision for income taxes
$28.7M
$54.6M
$46.6M
$65.1M
Net income
$49.0M
$175.9M
$174.0M
$217.2M
Less: net income attributable to noncontrolling interest
$4.4M
$6.5M
$2.4M
$1.2M
Net income
$44.7M
$169.4M
$171.6M
$216.1M
Basic net income per share
$0.63
$2.38
$2.34
$2.84
Diluted net income per share
$0.63
$2.35
$2.30
$2.77
Basic weighted average common shares outstanding
70.9M
71.3M
73.3M
76.0M
Effect of dilutive securities – options/restricted stock
308.0K
689.0K
1.2M
2.0M
Diluted weighted average common shares outstanding
71.2M
72.0M
74.6M
78.1M
Cash dividends declared per common share
$0.84
$0.84
$0.84
$0.84
Steven Madden Ltd. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Net sales
$662.9M
$649.7M
$664.2M
$556.1M
Licensing fee income
$3.0M
$3.4M
$3.7M
$2.9M
Total revenue
$665.9M
$653.1M
$667.9M
$559.0M
Cost of sales (exclusive of depreciation and amortization)
$356.2M
$295.7M
$390.5M
$333.0M
Gross profit
$309.7M
$357.4M
$277.4M
$226.0M
Operating expenses
$270.3M
$258.3M
$246.0M
$263.9M
Change in valuation of contingent payment liability
$0
$385.0K
$0
$2.4M
Income / (loss) from operations
$39.3M
$98.7M
$31.4M
($40.3M)
Gain on derivative
$0
—
$0
$9.3M
Interest and other expense, net
($1.3M)
($3.6M)
($4.9M)
($3.8M)
Income / (loss) before provision for income taxes
$38.1M
$95.1M
$26.4M
($34.8M)
Provision for income taxes
$10.1M
$23.5M
$4.6M
$3.9M
Net income / (loss)
$27.9M
$71.6M
$21.8M
($38.7M)
Less: net income attributable to noncontrolling interest
$198.0K
($179.0K)
$1.3M
$765.0K
Net income / (loss) attributable to Steven Madden, Ltd.
$27.7M
$71.8M
$20.5M
($39.5M)
Basic net income per share (in dollars per share)
$0.39
$1.01
$0.29
-$0.56
Diluted net income per share (in dollars per share)
$0.38
$1.00
$0.29
-$0.56
Basic weighted average common shares outstanding
71.3M
71.2M
70.9M
70.9M
Effect of dilutive securities – options/restricted stock
872.0K
713.0K
251.0K
0
Diluted weighted average common shares outstanding
72.2M
71.9M
71.2M
70.9M
Cash dividends declared per common share
$0.21
$0.21
$0.21
$0.21
Balance sheet
Steven Madden Ltd. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$112.4M
$189.9M
$204.6M
$274.7M
Short-term investments
$0
$13.5M
$15.2M
$15.1M
Accounts receivable, net of allowances of $7,115 and $4,670
$91.9M
$45.7M
$40.2M
—
Factor accounts receivable
$311.6M
$348.7M
$320.7M
$248.2M
Inventories
$417.0M
$257.6M
$229.0M
$228.8M
Prepaid expenses and other current assets
$46.8M
$34.5M
$29.0M
$23.0M
Income tax receivable and prepaid income taxes
$21.1M
$4.9M
$16.1M
$15.9M
Total current assets
$1.0B
$894.7M
$854.8M
$843.6M
Property and equipment, net
$115.8M
$57.4M
$47.2M
$40.7M
Operating lease right-of-use asset
$235.9M
$139.7M
$122.8M
$90.3M
Deferred tax assets
$3.2M
$610.0K
$609.0K
$1.8M
Deposits and other
$22.8M
$22.2M
$16.3M
$12.1M
Goodwill
$254.5M
$183.7M
$180.0M
$168.1M
Intangibles, net
$281.4M
$113.4M
$126.3M
$101.2M
Total Assets
$1.9B
$1.4B
$1.3B
$1.3B
Accounts payable
$197.2M
$206.9M
$161.1M
$130.5M
Accrued expenses
$258.8M
$142.5M
$154.8M
$138.5M
Operating leases - current portion
$58.8M
$43.2M
$40.3M
$29.5M
Income taxes payable
$4.5M
$6.1M
$6.0M
$9.4M
Accrued incentive compensation
$6.4M
$15.1M
$12.1M
$11.8M
Total current liabilities
$525.7M
$413.7M
$377.6M
$320.9M
Contingent payment liability - long-term portion
$14.9M
$7.6M
$10.0M
$0
Operating leases - long-term portion
$193.1M
$109.8M
$98.5M
$79.1M
Long-term debt
$234.2M
—
—
—
Deferred tax liabilities
$36.1M
$4.6M
$8.6M
$3.9M
Other liabilities
$6.3M
$44.0K
$5.2M
$10.2M
Total Liabilities
$1.0B
$535.8M
$499.9M
$414.1M
Preferred stock – $0.0001 par value, 5,000 shares authorized; none issued; Series A Junior Participating preferred stock – $0.0001 par value, 60 shares authorized; none issued
0
0
0
0
Common stock – $0.0001 par value, 245,000 shares authorized, 138,341 and 137,248 shares issued, 72,674 and 72,157 shares outstanding
7.0K
7.0K
7.0K
8.0K
Additional paid-in capital
$653.6M
$614.4M
$586.2M
$520.4M
Retained earnings
$1.8B
$1.8B
$1.7B
$1.6B
Accumulated other comprehensive loss
($29.5M)
($48.3M)
($29.0M)
($35.7M)
Treasury stock – 65,667 and 65,091 shares at cost
-1.5B
-1.5B
-1.4B
-1.2B
Total Steven Madden, Ltd. stockholders’ equity
$866.4M
$847.7M
$829.6M
$831.6M
Noncontrolling interest
$37.6M
$28.3M
$18.4M
$12.3M
Total stockholders’ equity
$904.0M
$876.0M
$848.0M
$843.9M
Total Liabilities and Stockholders’ Equity
$1.9B
$1.4B
$1.3B
$1.3B
Steven Madden Ltd. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$94.7M
$77.2M
$108.7M
$111.7M
Short-term Investments
$0
$0
$140.0K
$140.0K
Accounts receivable, net of allowances of $8,140, $7,115 and $5,904
$80.3M
$97.1M
$91.3M
$86.2M
Factor accounts receivable
$307.4M
$346.5M
$333.2M
$289.9M
Inventories
$377.2M
$379.4M
$476.0M
$437.0M
Prepaid expenses and other current assets
$55.0M
$139.6M
$56.8M
$54.0M
Income tax receivable and prepaid income taxes
$15.1M
$9.3M
$26.6M
$18.8M
Total current assets
$929.8M
$1.0B
$1.1B
$997.8M
Property and equipment, net
$113.7M
$112.3M
$112.3M
$104.4M
Operating lease right-of-use asset
$235.3M
$237.3M
$220.7M
$220.1M
Deposits and other
$22.9M
$22.8M
$21.4M
$21.6M
Deferred tax assets
$3.2M
$3.2M
$1.4M
$2.2M
Goodwill
$256.3M
$254.2M
$273.8M
$266.6M
Intangibles, net
$274.8M
$276.2M
$277.3M
$282.4M
Total Assets
$1.8B
$2.0B
$2.0B
$1.9B
Accounts payable
$202.1M
$195.7M
$254.3M
$235.7M
Accrued expenses and other current liabilities
$202.6M
$193.7M
$237.7M
$181.3M
Operating leases – current portion
$58.6M
$61.9M
$56.0M
$56.2M
Income taxes payable
$13.7M
$13.2M
$16.4M
$11.4M
Current portion of long-term debt
$0
—
—
$5.6M
Contingent payment liability – current portion
$0
—
$3.2M
$3.0M
Accrued incentive compensation
$10.8M
$6.9M
$4.6M
$3.4M
Total current liabilities
$487.8M
$471.4M
$572.2M
$496.6M
Contingent payment liability – long-term portion
$15.3M
$15.3M
$15.2M
$17.4M
Operating leases – long-term portion
$193.7M
$191.9M
$190.5M
$189.4M
Long-term debt
$124.8M
$286.5M
$293.8M
$287.9M
Deferred tax liabilities
$36.6M
$36.3M
$39.9M
$38.6M
Other liabilities
$5.7M
$6.3M
$1.9M
$1.9M
Total Liabilities
$864.0M
$1.0B
$1.1B
$1.0B
Preferred stock – $0.0001 par value, 5,000 shares authorized; none issued; Series A Junior Participating preferred stock – $0.0001 par value, 60 shares authorized; none issued
0
0
0
0
Common stock – $0.0001 par value, 245,000 shares authorized,139,215, 138,341 and 137,961 shares issued, 73,168, 72,674 and 72,651 shares outstanding
7.0K
7.0K
7.0K
7.0K
Additional paid-in capital
$680.0M
$660.9M
$636.6M
$629.1M
Retained earnings
$1.8B
$1.8B
$1.8B
$1.8B
Accumulated other comprehensive loss
($35.5M)
($39.1M)
($34.8M)
($39.8M)
Treasury stock – 66,047, 65,667 and 65,310 shares at cost
-1.5B
-1.5B
-1.5B
-1.5B
Total Steven Madden, Ltd. stockholders’ equity
$939.6M
$913.2M
$850.8M
$833.2M
Noncontrolling interest
$32.5M
$34.1M
$35.3M
$30.1M
Total stockholders’ equity
$972.1M
$947.2M
$886.1M
$863.4M
Total Liabilities and Stockholders’ Equity
$1.8B
$2.0B
$2.0B
$1.9B
Cash flow statement
Steven Madden Ltd. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$49.0M
$175.9M
$174.0M
$217.2M
Stock-based compensation
$29.6M
$26.5M
$24.1M
$24.4M
Depreciation and amortization
$33.4M
$20.0M
$15.5M
$20.6M
Amortization of debt issuance costs
$1.2M
—
—
—
(Gain)/loss on disposal of fixed assets
($150.0K)
$112.0K
$204.0K
$11.0K
Impairment of intangibles
$6.3M
$10.3M
$6.5M
$0
Deferred taxes
($4.7M)
($4.7M)
$6.1M
$3.6M
Loss on divestiture of business
$0
$3.2M
—
—
Accrued interest on note receivable – related party
$0
$0
$8.0K
$16.0K
Note receivable - related party
$0
$0
$409.0K
$409.0K
Change in valuation of contingent payment liability
($5.6M)
$2.7M
$0
($5.8M)
Amortization of inventory step-up and other
$30.7M
—
—
—
Accounts receivable
($10.6M)
($6.9M)
($1.3M)
($9.7M)
Factor accounts receivable
$39.7M
($31.5M)
($18.6M)
$116.1M
Inventories
$4.4M
($30.6M)
$25.3M
$29.1M
Prepaid expenses, income tax receivables, prepaid taxes, and other assets
($8.3M)
$133.0K
($1.1M)
($4.2M)
Accounts payable and accrued expenses
$9.9M
$37.3M
$7.1M
($108.8M)
Accrued incentive compensation
($8.8M)
$3.1M
$280.0K
($3.1M)
Leases and other liabilities
($3.9M)
($7.0M)
($8.1M)
($8.9M)
Net cash provided by operating activities
$162.2M
$198.1M
$229.2M
$267.9M
Acquisition of businesses
($371.6M)
($14.0M)
—
—
Capital expenditures
($42.7M)
($25.9M)
($19.5M)
($16.4M)
Purchases of short-term investments
$0
($21.4M)
($25.7M)
($45.1M)
Maturity/sale of short-term investments
$13.6M
$22.1M
$25.9M
—
Other investing activities
($260.0K)
($340.0K)
($5.3M)
($5.0M)
Net cash used in investing activities
($400.9M)
($39.5M)
($99.9M)
$5.5M
Borrowings under credit facilities
$467.5M
—
—
—
Repayments under credit facilities
($227.5M)
—
—
—
Cash dividends paid on common stock
($61.0M)
($61.0M)
($63.2M)
($66.0M)
Common stock repurchased and net settlements of stock awards
($13.5M)
($98.4M)
($142.3M)
($148.9M)
Financing costs paid
($9.0M)
—
—
—
Investment of noncontrolling interest
$3.5M
$0
$4.5M
$2.5M
Distributions to noncontrolling interest earnings
$2.9M
$0
$1.1M
$294.0K
Proceeds from exercise of stock options
$32.0K
$1.6M
$1.2M
$602.0K
Acquisition of incremental ownership of joint ventures
$0
($1.5M)
$0
$0
Payment of contingent liability
$0
$0
($1.2M)
($339.0K)
Net cash provided by / (used in) financing activities
$157.1M
($167.9M)
($200.9M)
($215.8M)
Effect of exchange rate changes on cash and cash equivalents
$4.1M
($5.4M)
$1.5M
($2.4M)
Net change in cash and cash equivalents
($77.5M)
($14.7M)
($70.1M)
$55.2M
Cash and cash equivalents – beginning of year
$189.9M
$204.6M
$274.7M
$219.5M
Cash and cash equivalents – end of year
$112.4M
$189.9M
$204.6M
$274.7M
Cash paid during the year for interest
$11.7M
—
—
—
Steven Madden Ltd. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$99.6M
$71.6M
$24.4M
$2.5M
Stock-based compensation
$15.7M
$7.3M
$22.2M
$14.7M
Depreciation and amortization
$18.4M
$9.4M
$25.1M
$13.9M
Amortization of debt issuance costs
$887.0K
$441.0K
$725.0K
$480.0K
Loss on disposal of fixed assets
$135.0K
$100.0K
$180.0K
$1.0K
Deferred taxes
$5.0K
$32.0K
—
—
Change in valuation of contingent payment liability
$385.0K
$385.0K
($2.1M)
($2.1M)
Other operating activities
$1.9M
$100.0K
$21.3M
($550.0K)
Accounts receivable
$10.4M
($6.4M)
($11.6M)
($7.2M)
Factor accounts receivable
$3.0M
($35.6M)
$17.2M
($59.1M)
Inventories
$38.4M
$34.3M
($40.7M)
$35.0M
Prepaid expenses, income tax receivables, prepaid taxes, and other assets
($5.5M)
($83.4M)
($19.1M)
($7.1M)
Accounts payable, accrued expenses, and other current liabilities
($40.1M)
($55.3M)
$47.9M
($34.4M)
Accrued incentive compensation
$4.4M
$595.0K
($10.6M)
($11.7M)
Leases and other liabilities
$1.5M
$1.3M
($3.8M)
($15.0M)
Net cash provided by operating activities
$149.3M
($55.3M)
$71.1M
$47.6M
Capital expenditures
($14.4M)
($5.9M)
($32.3M)
$17.5M
Maturity / sale of short-term investments
$0
$0
$13.4M
$13.4M
Acquisition of businesses
$1.3M
—
($371.6M)
($371.6M)
Other investing activities
$0
$0
($2.4M)
($2.2M)
Net cash used in investing activities
($15.7M)
($5.9M)
($392.9M)
($377.9M)
Common stock purchased for treasury
($8.4M)
($7.4M)
($8.4M)
($8.2M)
Proceeds from exercise of stock options
$3.0M
$0
$0
$0
Borrowings under credit facilities
$127.0M
$94.0M
$437.5M
$395.0M
Repayments under credit facilities
($237.0M)
($42.0M)
($137.5M)
($95.0M)
Financing costs paid
$0
—
($9.0M)
($9.0M)
Cash dividends paid on common stock
($30.6M)
($15.3M)
($45.7M)
($30.4M)
Distribution of noncontrolling interest
($5.5M)
($2.9M)
($2.9M)
—
Net cash (used in) / provided by financing activities
($151.5M)
$26.4M
$237.5M
$249.5M
Effect of exchange rate changes on cash and cash equivalents