STEVEN MADDEN, LTD.

Listed Company

SHOOCIK 0000913241NasdaqLarge AcceleratedFootwear, (No Rubber)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.53B

Net Income

$49.02M

Total Assets

$1.91B

Equity

$866.39M

Shares Out

72.91M

Op. Cash Flow

$162.20M

Business

STEVEN MADDEN, LTD. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel. Its main products include dress shoes, boots, sneakers, sandals, handbags, small leather goods, belts, scarves, apparel, and related trend accessories across its owned brands and private label offerings. The company operates through reportable segments: Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to-Consumer (company-operated retail stores and e-commerce), and Licensing, with corporate functions supporting these businesses. Products are distributed via a broad wholesale network of department stores, mass merchants, specialty and online retailers, company-operated retail stores, e-commerce websites, and international joint ventures and distribution arrangements across North America, Europe, Latin America, Africa, the Middle East, Israel, and the Asia-Pacific region.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	2,522	2,272	1,971	2,111	1,854
Commission and licensing fee income	13	11	10	11	12
Total revenue	2,534	2,283	1,982	2,122	1,866
Cost of sales (exclusive of depreciation and amortization)	1,485	1,346	1,149	1,248	1,099
Gross profit	1,049	937	832	874	767
Operating expenses	−968	−699	−613	−586	−520
Change In Valuation of Contingent Payment Liability	−6	3	0	6	—
Impairment of intangibles	6	10	7	0	3
Income from operations	81	225	213	282	244
Gain on derivative	9	0	0	—	—
Interest and other (expense) / income - net	−12	6	7	676,000	−2
Income before provision for income taxes	78	230	221	282	242
Provision for income taxes	29	55	47	65	50
Net income	49	176	174	217	192
Less: net income attributable to noncontrolling interest	4	7	2	1	—
Basic net income per share	0.63	2.38	2.34	2.84	2.43
Diluted net income per share	0.63	2.35	2.3	2.77	2.34
Basic weighted average common shares outstanding	71	71	73	76	78
Effect of dilutive securities options/restricted stock	308,000	689,000	1	2	3
Diluted weighted average common shares outstanding	71	72	75	78	82
Cash dividends declared per common share	0.84	0.84	0.84	0.84	0.6

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	112	190	205	275	219
Short-term investments	0	13	15	15	44
Accounts receivable, net of allowances of $7,115 and $4,670	92	46	40	38	—
Factor accounts receivable	312	349	321	248	—
Inventories	417	258	229	229	255
Prepaid expenses and other current assets	47	34	29	23	21
Income tax receivable and prepaid income taxes	21	5	16	16	14
Total current assets	1,001	895	855	844	945
Property and equipment, net	116	57	47	41	36
Operating lease right-of-use asset	236	140	123	90	85
Deferred tax assets	3	610,000	609,000	2	5
Deposits and other	23	22	16	12	4
Goodwill	255	184	180	168	168
Intangibles, net	281	113	126	101	112
Total Assets	1,914	1,412	1,348	1,258	1,356
Accounts payable	197	207	161	131	137
Accrued expenses	259	142	155	139	243
Operating leases - current portion	59	43	40	29	31
Income taxes payable	4	6	6	9	5
Accrued incentive compensation	6	15	12	12	15
Total current liabilities	526	414	378	321	435
Contingent payment liability - long-term portion	15	8	10	0	7
Operating leases - long-term portion	193	110	99	79	80
Long-term debt	234	0	—	—	—
Deferred tax liabilities	36	5	9	4	3
Other liabilities	6	44,000	5	10	9
Total Liabilities	1,010	536	500	414	535
Commitments, contingencies and other (Note 15)	—	—	—	—	—
Common stock $0.0001 par value, 245,000 shares authorized, 138,341 and 137,248 shares issued, 72,674 and 72,157 shares outstanding	7,000	7,000	7,000	8,000	8,000
Additional paid-in capital	654	614	586	520	496
Retained earnings	1,772	1,788	1,680	1,571	1,421
Accumulated other comprehensive loss	−29	−48	−29	−36	−30
Treasury stock 65,667 and 65,091 shares at cost	−1,529	−1,506	−1,407	−1,224	−1,075
Total Steven Madden, Ltd. stockholders equity	866	848	830	832	812
Noncontrolling interest	38	28	18	12	8
Total stockholders equity	904	876	848	844	821
Total Liabilities and Stockholders Equity	1,914	1,412	1,348	1,258	1,356

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	30	27	24	—	—
Depreciation and amortization	33	20	16	21	15
Amortization of debt issuance costs	1	0	0	—	—
(Gain)/loss on disposal of fixed assets	−150,000	112,000	204,000	11,000	526,000
Impairment of intangibles	6	10	7	0	3
Deferred taxes	−5	−5	6	4	1
Loss on divestiture of business	0	3	0	0	—
Accrued interest on note receivable related party	0	0	8,000	16,000	23,000
Note receivable - related party	0	0	409,000	409,000	409,000
Change in valuation of contingent payment liability	−6	3	0	−6	12
Amortization of inventory step-up and other	31	−575,000	−23,000	—	—
Accounts receivable	−11	−7	−1	−10	−583,000
Factor accounts receivable	40	−32	−19	116	−112
Inventories	4	−31	25	29	−154
Prepaid expenses, income tax receivables, prepaid taxes, and other assets	−8	133,000	−1	−4	−2
Accounts payable and accrued expenses	10	37	7	−109	186
Accrued incentive compensation	−9	3	280,000	−3	11
Leases and other liabilities	−4	−7	−8	−9	−8
Payment of contingent liability	0	0	−1	−339,000	0
Net cash provided by operating activities	162	198	229	268	159
Acquisition of businesses	−372	−14	−75	—	—
Capital expenditures	−43	−26	−19	−16	−7
Purchases of short-term investments	0	−21	−26	−45	−68
Maturity/sale of short-term investments	14	22	26	—	—
Other investing activities	−260,000	−340,000	−5	−5	0
Net cash used in investing activities	−401	−39	−100	6	−3
Borrowings under credit facilities	468	0	0	—	—
Repayments under credit facilities	−228	0	0	—	—
Cash dividends paid on common stock	−61	−61	−63	−66	−49
Common stock repurchased and net settlements of stock awards	−14	−98	−142	−149	−123
Financing costs paid	−9	0	0	—	—
Investment of noncontrolling interest	4	0	4	3	0
Distributions to noncontrolling interest earnings	3	0	1	294,000	3
Proceeds from exercise of stock options	32,000	2	1	602,000	10
Acquisition of incremental ownership of joint ventures	0	−2	0	0	−19
Payment of contingent liability	0	−9	0	−5	0
Net cash provided by / (used in) financing activities	157	−168	−201	−216	−185
Effect of exchange rate changes on cash and cash equivalents	4	−5	2	−2	37,000
Net change in cash and cash equivalents	−78	−15	−70	55	−28
Cash paid during the year for interest	12	0	0	—	—

Filings

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