STEVEN MADDEN, LTD.
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 6, 2026
SHOO$42.53-0.7%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| (in thousands) | 2026 | 2025 |
| Cash flows from operating activities: | ||
| Net income | $152,211 | $24,366 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Stock-based compensation | 24,296 | 22,175 |
| Depreciation and amortization | 27,647 | 25,108 |
| Amortization of debt issuance costs | 1,339 | 725 |
| Loss on disposal of fixed assets | 1,187 | 180 |
| Deferred taxes | 5 | — |
| Change in valuation of contingent payment liability | 1,406 | (2,075) |
| Amortization of inventory step-up and other | 321 | 21,267 |
| Changes, net of acquisitions, in: | ||
| Accounts receivable | (7,103) | (11,614) |
| Factor accounts receivable | (86,989) | 17,184 |
| Inventories | (937) | (40,673) |
| Prepaid expenses, income tax receivables, prepaid taxes, and other assets | (2,853) | (19,146) |
| Accounts payable, accrued expenses, and other current liabilities | 28,282 | 47,905 |
| Accrued incentive compensation | 12,608 | (10,574) |
| Leases and other liabilities | 1,315 | (3,756) |
| Net cash provided by operating activities | 152,735 | 71,072 |
| Cash flows from investing activities: | ||
| Capital expenditures | (28,818) | (32,338) |
| Maturity and sale of short-term investments | — | 13,410 |
| Acquisition of businesses | (1,328) | (371,554) |
| Other investing activities | 7,701 | (2,379) |
| Net cash used in investing activities | (22,445) | (392,861) |
| Cash flows from financing activities: | ||
| Common stock repurchased and net settlements of stock awards | (8,695) | (8,367) |
| Proceeds from exercise of stock options | 3,442 | — |
| Investment of noncontrolling interest | — | 3,500 |
| Borrowings under credit facilities | 193,000 | 437,500 |
| Repayments under credit facilities | (308,000) | (137,500) |
| Financing costs paid | — | (8,955) |
| Cash dividends paid on common stock | (46,004) | (45,692) |
| Distribution of noncontrolling interest | (5,482) | (2,946) |
| Net cash (used in) / provided by financing activities | (171,739) | 237,540 |
| Effect of exchange rate changes on cash and cash equivalents | 360 | 3,047 |
| Net decrease in cash and cash equivalents | (41,089) | (81,202) |
| Cash and cash equivalents – beginning of period | 112,423 | 189,924 |
| Cash and cash equivalents – end of period | $71,334 | $108,722 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid during the period for: | ||
| Interest | $9,877 | $6,714 |
| Acquisition-related proceeds to certain sellers | $— | $38,819 |
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