Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.04, read 2026-11-05
Ethical passes the values gate
Price38.99 USD
Fair value57.60
Ethical score70.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-10-29Read Markdown42.68-8.6% to today ✓Accumulation gives way to Markdown after a 7% slide in 3 weeks
2026-10-11Read Accumulation45.97-15.2% to today Markup gives way to Accumulation after a 7% rise in 9 days
2026-10-02Read Markup42.83-9.0% to today Markdown gives way to Markup after a 5% slide in 3 weeks
2026-09-12Read Markdown45.11-13.6% to today ✓Markup gives way to Markdown with volume flow in agreement
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Steven Madden, Ltd. holds its Markup at $38.99. Consolidating, no directional conviction, held for 5 days.
As held on the ledger · 2026-11-05
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 5 days
Price at the screen
$38.99
Valuation
23.26 trailing · 17.17 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.17
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
25.40%
Below 33%
Interest-bearing debt is just 25.4% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
10.67%
Below 49%
Money owed to the company is 10.7% of assets, under the 49% limit.
Pass
Revenue purity
0.24%
Below 5%
Only 0.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Steven Madden, clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 25%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Today SHOO passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 32% discount to our $57.60 fair value, 19.10% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 32.3% discount to the base estimate.
Where our models see it going: fair-value estimate $57.60, with a range of $45.15 to $75.24, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Fashion Shoes Show Growth But Weak Returns
Picture a shopper grabbing the latest trendy sneakers only to see them discounted six months later. Steven Madden delivers solid top-line expansion at 18 percent revenue growth and passes our ethical screen, yet its 3 percent profit margin and 9 percent ROE leave little room for error in a business that lives or dies on shifting tastes.
We pass because the opportunity rating is none. Forward earnings sit at 16.1 times while the stock trades below both our fair value and the analyst median target, but low returns on equity in a cyclical category signal that growth may not translate into durable owner earnings.
Fashion cycles turn quickly and consumer spending on accessories can stall without warning. The modest margin structure offers scant protection if input costs rise or demand softens, leaving the apparent discount vulnerable to a classic cyclical trap rather than a genuine bargain.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SHOO trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markdown$46.98+6.7%Entry 17
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 6.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (9 analysts) rates it none, with a mean price target of $45. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-04Markdown$44.03+1.1%Entry 16
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (9 analysts) rates it none, with a mean price target of $45. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-03Markdown$43.53+0.1%Entry 15
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 0.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (9 analysts) rates it none, with a mean price target of $45. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-02Markdown$43.50+0.0%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (9 analysts) rates it none, with a mean price target of $45. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-01Markdown$43.50+0.0%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (9 analysts) rates it none, with a mean price target of $45. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-31Markdown$43.50-3.2%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (9 analysts) rates it none, with a mean price target of $45. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-30Markdown$44.93+5.3%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 5.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (9 analysts) rates it none, with a mean price target of $45. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-29Markdown · changed$42.68-4.5%Entry 10
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 4.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (9 analysts) rates it none, with a mean price target of $45. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Accumulation$44.69-3.4%Entry 9
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 3.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 10% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (9 analysts) rates it none, with a mean price target of $45.
2026-10-18Accumulation$46.24+0.6%Entry 8
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (9 analysts) rates it none, with a mean price target of $45.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
