Filing Flows › Steven Madden (SHOO) › Q4 2025
Steven Madden (SHOO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Steven Madden (SHOO) reported revenue of $754M for the fourth quarter 2025 (Q4 2025), +29% from a year earlier and +13% from the quarter before. Operating margin was 4.8%, net earnings $23.2M (3.1% of revenue).
Steven Madden, Q4 2025: revenue $754M (+29% year over year), operating margin 4.8%, net earnings $23.2M, operating cash flow $91.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $754M | +13% | +29% |
| Gross profit | $320M | +15% | +36% |
| Operating profit | $36.2M | +15% | -23% |
| Net earnings | $23.2M | +13% | -33% |
| Operating cash flow | $91.1M | +289% | -12% |
| Free cash flow | $80.8M | +838% | -15% |
What changed
Revenue was $753.7M in Q4 2025, up 29% year over year and up 13% from the previous quarter.
Gross margin was 42.4%, up 2.0 points from a year earlier. Operating profit was $36.2M, a 4.8% margin (down 3.2 points year over year). Operating profit fell $10.6M even though revenue rose $171.4M versus a year earlier, so costs grew faster than sales. Operating expenses grew 50% against revenue growth of 29%. Net earnings were $23.2M, down 33% year over year. The effective tax rate was 22.3%.
Operating cash flow was $91.1M (down 12% year over year), 370% of net income including minority interests. Non-cash charges added back $8.3M of depreciation and amortization and $7.5M of share-based compensation. Working capital and other items added $50.7M. Capital expenditures of $10.3M left free cash flow of $80.8M.
Questions
What was Steven Madden's revenue in the fourth quarter 2025?
Steven Madden (SHOO) reported revenue of $754M for the fourth quarter 2025 (Q4 2025), +29% from a year earlier and +13% from the quarter before.
Was Steven Madden profitable in the fourth quarter 2025?
Operating profit was $36.2M (4.8% of revenue) and net earnings $23.2M.
Source: Steven Madden 10-K on SEC EDGAR.