Steven MaddenSHOO 92 Piotroski F-Score is 5 as of Jun. 25, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates SHOO with a GF Score™ of 92/100 and a GF Value™ of $49.25 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 1,055 Manufacturing - Apparel & Accessories companies, Steven Madden ranks better than 59.91% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Steven Madden has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Steven Madden's Piotroski F-Score or its related term are showing as below:
SHOO'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 9
Current: 5
During the past 13 years, the highest Piotroski F-Score of Steven Madden was 9. The lowest was 4. And the median was 6.
Steven Madden (NAS:SHOO) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Steven Madden Piotroski F-Score Related Terms
Steven Madden Piotroski F-Score Historical Data
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The historical data trend for Steven Madden's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SHOO vs WWW, CROX, DBI: Piotroski F-Score Comparison
For the Footwear & Accessories subindustry, Steven Madden's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Steven Madden Piotroski F-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Steven Madden's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Steven Madden's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Steven Madden's current Net Income (TTM) was 76.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Steven Madden's return on assets of this year was 0.05329312. Steven Madden's return on assets of last year was 0.12719213.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Steven Madden's gearing of this year was 0.26026752. Steven Madden's gearing of last year was 0.08654087.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Steven Madden's current ratio of this year was 2.22515772. Steven Madden's current ratio of last year was 2.24560643.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Steven Madden's number of shares in issue this year was 71.876. Steven Madden's number of shares in issue last year was 71.055.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Steven Madden's gross margin of this year was 0.44827999. Steven Madden's gross margin of last year was 0.41083675.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Steven Madden's asset turnover of this year was 1.84533993. Steven Madden's asset turnover of last year was 1.7513896.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Steven Madden has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Steven Madden (SHOO) has a Piotroski F-Score of 5 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Steven Madden and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, Steven Madden's Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, Steven Madden ranks #423 out of 1055 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 40.1%.
Is Steven Madden's Piotroski F-Score too high?
Steven Madden's current Piotroski F-Score of 5 is 17% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 9.00. The Manufacturing - Apparel & Accessories industry median Piotroski F-Score is 5.00. Steven Madden's value of 5 is 0% at this industry median. Based on the distribution chart, Steven Madden ranks #423 out of 1055 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, Steven Madden has a GF Score™ of 92/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Steven Madden's Piotroski F-Score compare to WWW and CROX?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Steven Madden ranks #423 out of 1055 companies for Piotroski F-Score. This puts Steven Madden in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Steven Madden's value of 5 is 0% at this benchmark. Historically, Steven Madden's own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Steven Madden has consistently been at the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Manufacturing - Apparel & Accessories company?
The median Piotroski F-Score among Manufacturing - Apparel & Accessories companies is 5.00, based on 1,055 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Steven Madden's current Piotroski F-Score of 5 is 0% at the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Steven Madden and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steven Madden's current Piotroski F-Score is 5, which is 17% below median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Steven Madden stock overvalued right now?
Based on GuruFocus' analysis, Steven Madden (SHOO) is currently considered Modestly Undervalued. The stock's GF Value™ is $49.25, compared to a current price of $42.29 — trading 14.1% below its estimated fair value. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 0% at the Manufacturing - Apparel & Accessories industry median of 5.00. Steven Madden's overall GF Score™ is 92/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Steven Madden (SHOO), the current Piotroski F-Score is 5 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Steven Madden (SHOO) Overvalued in 2026?
Based on GuruFocus' analysis, Steven Madden stock appears to be undervalued.
The current stock price of $42.29 is trading 14.1% below its estimated GF Value™ of $49.25.
GuruFocus considers Steven Madden to be Modestly Undervalued.
Key valuation signals for SHOO:
Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
GF Value™: $49.25 vs. price of $42.29 (14.1% below fair value)
Industry Position: 0% at the Manufacturing - Apparel & Accessories median (#423 of 1055)
No single metric tells the full story. See the SHOO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Steven Madden Ltd and its subsidiaries design, source, and market branded and private label footwear, accessories, and apparel. Its offerings include contemporary styles and core products, known for design creativity, trend-right offerings, high quality, and accessible price points. It operates through four segments: Wholesale Footwear, which generates maximum revenue and sells footwear globally; Wholesale Accessories/Apparel, which sells handbags and apparel through wholesale channels; Direct-to-Consumer, which sells footwear, handbags, apparel, and accessories through stores, outlets, e-commerce, and concessions; and Licensing, which licenses Steve Madden, Betsey Johnson, and Kurt Geiger trademarks, with the Company generating the majority of its revenue from the USA.
92GF Score
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