Steven MaddenSHOO -3.99%92 ROC (Joel Greenblatt) % is 79.27% as of Mar. 2026, which is 49% below its 10-year median of 155.84. GuruFocus rates SHOO with a GF Score™ of 92/100 and a GF Value™ of $49.36 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,060 Manufacturing - Apparel & Accessories companies, Steven Madden ranks better than 85.75% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Steven Madden's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 79.27%.
The historical rank and industry rank for Steven Madden's ROC (Joel Greenblatt) % or its related term are showing as below:
SHOO'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 27.09 Med: 155.84 Max: 254.4
Current: 30.25
During the past 13 years, Steven Madden's highest ROC (Joel Greenblatt) % was 254.40%. The lowest was 27.09%. And the median was 155.84%.
SHOO's ROC (Joel Greenblatt) % is ranked better than 85.75% of 1060
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 8.44
vs SHOO: 30.25
Steven Madden's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -3.70% per year.
Steven Madden (NAS:SHOO) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Steven Madden ROC (Joel Greenblatt) % Related Terms
Steven Madden ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Steven Madden's ROC (Joel Greenblatt) % 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, WEYS, DBI: ROC (Joel Greenblatt) % Comparison
For the Footwear & Accessories subindustry, Steven Madden's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Steven Madden's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Steven Madden's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 79.27% mean?
Steven Madden (SHOO) has a ROC (Joel Greenblatt) % of 79.27% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Steven Madden and its competitors. This is 49% below median its historical median of 155.84. Over the past decade, Steven Madden's ROC (Joel Greenblatt) % has ranged from 27.09 to 254.40. According to the industry distribution chart, Steven Madden ranks #151 out of 1060 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 14.2%.
Is Steven Madden's ROC (Joel Greenblatt) % too high?
Steven Madden's current ROC (Joel Greenblatt) % of 79.27% is 49% below median its 10-year median of 155.84. Over the past 10 years, this metric has ranged from a low of 27.09 to a high of 254.40. The Manufacturing - Apparel & Accessories industry median ROC (Joel Greenblatt) % is 8.44. Steven Madden's value of 79.27% is 839.2% above this industry median. Based on the distribution chart, Steven Madden ranks #151 out of 1060 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. 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 ROC (Joel Greenblatt) % compare to WWW and WEYS?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Steven Madden ranks #151 out of 1060 companies for ROC (Joel Greenblatt) %. This places Steven Madden in the top 14% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.44. Steven Madden's value of 79.27% is 839.2% above this benchmark. Historically, Steven Madden's own ROC (Joel Greenblatt) % has ranged from 27.09 to 254.40 over the past decade. While the company's 10-year median is 155.84 vs. the industry median of 8.44, Steven Madden has consistently been above 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 ROC (Joel Greenblatt) % for a Manufacturing - Apparel & Accessories company?
The median ROC (Joel Greenblatt) % among Manufacturing - Apparel & Accessories companies is 8.44, based on 1,060 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Steven Madden's current ROC (Joel Greenblatt) % of 79.27% is 839.2% above 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Steven Madden and its competitors. For the Manufacturing - Apparel & Accessories industry, the median ROC (Joel Greenblatt) % is 8.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steven Madden's current ROC (Joel Greenblatt) % is 79.27%, which is 49% below median its own 10-year median of 155.84. 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 $49.36, compared to a current price of $39.90 — trading 19.2% below its estimated fair value. The current ROC (Joel Greenblatt) % is 79.27%, which is 49% below median its 10-year median of 155.84 and 839.2% above the Manufacturing - Apparel & Accessories industry median of 8.44. Steven Madden's overall GF Score™ is 92/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Steven Madden (SHOO), the current ROC (Joel Greenblatt) % is 79.27% as of Mar. 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 $39.90 is trading 19.2% below its estimated GF Value™ of $49.36.
GuruFocus considers Steven Madden to be Modestly Undervalued.
Key valuation signals for SHOO:
ROC (Joel Greenblatt) %: 79.27% (49% below median its 10-year median of 155.84)
GF Value™: $49.36 vs. price of $39.90 (19.2% below fair value)
Industry Position: 839.2% above the Manufacturing - Apparel & Accessories median (#151 of 1060)
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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