Steven Madden Ltd (SHOO) is fairly valued and Wolverine World Wide Inc (WWW) is slightly undervalued.
Against our estimates of intrinsic value, WWW trades at the wider discount: a margin of safety of +18%, against +4% for SHOO.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.0% (average of 3 methods) values the shares at $46.07; the price of $44.45 is 4% below that value, and 73% of that value comes from beyond year five.
Leak Score 22/100 on 2 of 12 signals
Discounting its cash flows at 12.5% (average of 3 methods) values the shares at $24.27; the price of $19.87 is 18% below that value, and 65% of that value comes from beyond year five.
Leak Score 46/100 on 9 of 12 signals
| Metric | SHOO | WWW |
|---|---|---|
| Verdict | Fairly valued | Slightly undervalued |
| Price | $44.45 | $19.87 |
| Intrinsic value | $46.07 | $24.27 |
| Margin of safety | +4% | +18% |
| Leak Score | 22/100 (2/12) | 46/100 (9/12) |
| Market cap | $3.3B | $1.6B |
| Revenue growth, 5 years | 16.1% | 0.9% |
| Operating margin | 9.0% | 8.7% |
| Net margin | 5.2% | 5.4% |
| Return on equity | 16.2% | 26.6% |
| Debt to equity | 0.40 | 1.66 |
| P/E | 22.3x | 15.4x |
| Forward P/E | 16.0x | 10.7x |
| P/B | 3.5x | 3.6x |
| Dividend yield | 1.3% | 2.0% |