Steven Madden vs Wolverine World Wide
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KIRA’s take AI analyst
I put Steven Madden and Wolverine World Wide side by side, using each one’s latest annual report. Here is what stands out:
- Steven Madden is the larger business, with $2.5B of revenue in fiscal 2025 against $1.9B for Wolverine World Wide.
- Steven Madden grew revenue faster (11.0%, against 6.8%).
- Wolverine World Wide kept more of each dollar of sales as operating profit (8.0% operating margin, against 3.2%).
- Wolverine World Wide turned more of its sales into free cash flow (6.7% FCF margin, against 4.7%).
- Wolverine World Wide earned a higher return on the capital invested in it (15.1%, against 6.0%).
- Investors pay more for each dollar of Steven Madden’s earnings: a P/E of 21.4x against 15.7x for Wolverine World Wide.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Steven Madden
SHOO
4/11
Revenue growth5-year growthNet debt / EBITDAShare count change
Wolverine World Wide
WWW
7/11
Gross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-score
Side by side
Best in the row
| Latest fiscal year | SHOO FY25 | WWW FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.1B | $1.7B |
| Revenue | $2.5B | $1.9B |
| Free cash flow | $120M | $126M |
| Net income | $49.0M | $95.8M |
| Growth | ||
| Revenue growth | 11.0% | 6.8% |
| 5-year growth | 16.1% | 0.9% |
| Share count change | −1.1% | 2.1% |
| Profitability | ||
| Gross margin | 41.4% | 47.3% |
| Operating margin | 3.2% | 8.0% |
| Net margin | 1.9% | 5.1% |
| FCF margin | 4.7% | 6.7% |
| Return on capital | 6.0% | 15.1% |
| Return on equity | 5.7% | 26.6% |
| Balance sheet | ||
| Net debt | $122M | $415M |
| Net debt / EBITDA | 1.1x | 2.4x |
| Dividends and buybacks | $74.5M | $47.8M |
| Valuation & quality | ||
| P/E | 21.4x | 15.7x |
| Piotroski F-score | 6 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.