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Steven Madden (SHOO) FY2022 results: revenue $2.1 billion, up 13.7% on the year

Steven Madden, Ltd. (SHOO) reported revenue of $2.1 billion for fiscal 2022, the year ended 31 December 2022, up 13.7% on the year before. Net income was $217 million, up 12.9%, and diluted earnings per share $2.77. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2023.

Revenue
$2.1 billion
+13.7% on the year
FY2015FY2022
Operating margin
13.3%
13.1% a year earlier
FY2015FY2022
Net income
$217 million
+12.9% on the year
FY2015FY2022
Diluted EPS
$2.77
+18.4% on the year
FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ millionFY2022FY2021FY2020On the yearLast 8 years
Revenue2,1221,8661,202+13.7%
Cost of revenue1,2481,099737+13.6%
Gross profit874767465+13.9%
Gross margin41.2%41.1%38.7%
Operating income282244-31.6+15.6%
Operating margin13.3%13.1%-2.6%
Pre-tax income282242-30.0+16.6%
Income tax65.149.6-11.7+31.2%
Effective tax rate23.1%20.5%n/a
Net income217192-18.4+12.9%
Net margin10.2%10.3%-1.5%
Diluted EPS$2.77$2.34-$0.23+18.4%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2022FY2021FY2020On the yearLast 8 years
Operating cash flow26815944.2+68.0%
Capital expenditure16.46.66.6+147.4%
Free cash flow25215337.6+64.6%
Free cash flow margin11.9%8.2%3.1%
Cash from investing5.5-3.2-4.9
Cash from financing-216-185-57.1
Depreciation and amortisation20.615.217.4+35.3%
Share-based compensation24.422.322.6+9.5%
Buybacks14912346.6+20.9%
Dividends paid66.049.212.5+34.3%
Dividend per share$0.84$0.60$0.15+40.0%
Diluted shares, weighted78m82m79m-4.4%
Shares outstanding at period end77m81m83m-4.7%

Balance sheet

$ millionFY2022FY2021FY2020On the yearLast 8 years
Shareholders' equity832812777+2.4%
Non-controlling interest12.38.413.8+45.9%
Debt0.00.00.0
Operating lease liabilities79.180.198.6-1.2%
Other liabilities335455249-26.4%
Total liabilities and equity1,2581,3561,138-7.2%
Fixed assets40.735.843.3+13.6%
Goodwill168168168+0.1%
Intangible assets101112115-9.7%
Investments15.144.039.3-65.7%
Cash and equivalents275219248+25.2%
Receivables7.712.38.9-37.1%
Inventory229255101-10.4%
Other assets422509414-17.1%
Total assets1,2581,3561,138-7.2%

10-K for the year ended 31 December 2022, filed 1 March 2023: the filing.