Filing Flows › Steven Madden (SHOO) › Q3 2025
Steven Madden (SHOO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Steven Madden (SHOO) reported revenue of $668M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +19% from the quarter before. Operating margin was 4.7%, net earnings $20.5M (3.1% of revenue).
Steven Madden, Q3 2025: revenue $668M (+7% year over year), operating margin 4.7%, net earnings $20.5M, operating cash flow $23.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $668M | +19% | +7% |
| Gross profit | $277M | +23% | +7% |
| Operating profit | $31.4M | — | -58% |
| Net earnings | $20.5M | — | -63% |
| Operating cash flow | $23.4M | -65% | 53× |
| Free cash flow | $8.6M | -85% | — |
What changed
Revenue was $667.9M in Q3 2025, up 7% year over year and up 19% from the previous quarter.
Gross margin was 41.5%, unchanged from a year earlier. Operating profit was $31.4M, a 4.7% margin (down 7.2 points year over year). Operating profit fell $43.2M even though revenue rose $43.2M versus a year earlier, so costs grew faster than sales. Operating expenses grew 33% against revenue growth of 7%. Net earnings were $20.5M, down 63% year over year. The effective tax rate was 17.4%.
Operating cash flow was $23.4M (up 5179% year over year), 107% of net income including minority interests. Non-cash charges added back $11.2M of depreciation and amortization and $7.5M of share-based compensation. Working capital and other items used $17.0M. Capital expenditures of $14.8M left free cash flow of $8.6M.
Questions
What was Steven Madden's revenue in the third quarter 2025?
Steven Madden (SHOO) reported revenue of $668M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +19% from the quarter before.
Was Steven Madden profitable in the third quarter 2025?
Operating profit was $31.4M (4.7% of revenue) and net earnings $20.5M.
Source: Steven Madden 10-Q on SEC EDGAR.