Deckers Brands vs Steven Madden
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The short version
- Deckers Brands is the larger business, with $5.5B of revenue in fiscal 2026 against $2.5B for Steven Madden, about 2.2 times as much.
- Steven Madden grew revenue faster (11.0%, against 9.8%).
- Deckers Brands kept more of each dollar of sales as operating profit (23.1% operating margin, against 3.2%).
- Deckers Brands turned more of its sales into free cash flow (20.1% FCF margin, against 4.7%).
- Deckers Brands earned a higher return on the capital invested in it (160.4%, against 6.0%).
- Investors pay more for each dollar of Steven Madden’s earnings: a P/E of 21.6x against 11.5x for Deckers Brands.
| Latest fiscal year | DECK · FY26 | SHOO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.2B | $3.1B |
| Revenue | $5.5B | $2.5B |
| Free cash flow | $1.1B | $120M |
| Net income | $1.0B | $49.0M |
| Growth | ||
| Revenue growth | 9.8% | 11.0% |
| 5-year growth | 16.5% | 16.1% |
| Share count change | −4.5% | −1.1% |
| Profitability | ||
| Gross margin | 57.7% | 41.4% |
| Operating margin | 23.1% | 3.2% |
| Net margin | 18.7% | 1.9% |
| FCF margin | 20.1% | 4.7% |
| Return on capital | 160.4% | 6.0% |
| Return on equity | 40.9% | 5.7% |
| Balance sheet | ||
| Net debt | −$1.9B | $122M |
| Net debt / EBITDA | −1.4x | 1.1x |
| Dividends and buybacks | $1.1B | $74.5M |
| Valuation & quality | ||
| P/E | 11.5x | 21.6x |
| Piotroski F-score | 4 | 6 |
Revenue
FY17
DECK $1.8B
SHOO $1.6B
FY18
DECK $1.9B
SHOO $1.7B
FY19
DECK $2.0B
SHOO $1.8B
FY20
DECK $2.1B
SHOO $1.2B
FY21
DECK $2.5B
SHOO $1.9B
FY22
DECK $3.2B
SHOO $2.1B
FY23
DECK $3.6B
SHOO $2.0B
FY24
DECK $4.3B
SHOO $2.3B
FY25
DECK $5.0B
SHOO $2.5B
FY26
DECK $5.5B
SHOO —
DECK
SHOO
Operating margin
FY17
DECK −0.1%
SHOO 10.8%
FY18
DECK 11.7%
SHOO 10.3%
FY19
DECK 16.2%
SHOO 9.9%
FY20
DECK 15.9%
SHOO −2.6%
FY21
DECK 19.8%
SHOO 13.1%
FY22
DECK 17.9%
SHOO 13.3%
FY23
DECK 18.0%
SHOO 10.8%
FY24
DECK 21.6%
SHOO 9.9%
FY25
DECK 23.7%
SHOO 3.2%
FY26
DECK 23.1%
SHOO —
DECK
SHOO
Free cash flow
FY17
DECK $155M
SHOO $143M
FY18
DECK $293M
SHOO $142M
FY19
DECK $330M
SHOO $215M
FY20
DECK $254M
SHOO $37.6M
FY21
DECK $564M
SHOO $153M
FY22
DECK $121M
SHOO $252M
FY23
DECK $456M
SHOO $210M
FY24
DECK $944M
SHOO $172M
FY25
DECK $958M
SHOO $120M
FY26
DECK $1.1B
SHOO —
DECK
SHOO
Return on capital
FY17
DECK −0.2%
SHOO —
FY18
DECK 18.6%
SHOO —
FY19
DECK 51.1%
SHOO —
FY20
DECK 54.3%
SHOO —
FY21
DECK 87.8%
SHOO —
FY22
DECK 86.1%
SHOO —
FY23
DECK 68.5%
SHOO —
FY24
DECK 103.6%
SHOO —
FY25
DECK 149.1%
SHOO 6.0%
FY26
DECK 160.4%
SHOO —
DECK
SHOO
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.