BMI vs. SHOO

Last updated Jun 9, 2026

BMI (Badger Meter, Inc.) and SHOO (Steven Madden, Ltd.) are both stocks. BMI operates in Electrical Equipment & Parts (Industrials), while SHOO operates in Footwear & Accessories (Consumer Cyclical). Over the past 10 years, BMI returned 14.38%/yr vs 8.85%/yr for SHOO. At a 0.25 correlation, their price movements are largely independent.

Performance

BMI vs. SHOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Badger Meter, Inc. (BMI) and Steven Madden, Ltd. (SHOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BMI achieves a -24.83% return, which is significantly lower than SHOO's 10.00% return. Over the past 10 years, BMI has outperformed SHOO with an annualized return of 14.38%, while SHOO has yielded a comparatively lower 8.85% annualized return.

BMI

• 1D: 3.01%
• 1M: 10.34%
• YTD: -24.83%
• 6M: -26.08%
• 1Y: -46.65%
• 3Y*: -4.36%
• 5Y*: 7.73%
• 10Y*: 14.38%

SHOO

• 1D: 3.40%
• 1M: 12.11%
• YTD: 10.00%
• 6M: 6.84%
• 1Y: 87.20%
• 3Y*: 13.37%
• 5Y*: 2.86%
• 10Y*: 8.85%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BMI vs. SHOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BMI Badger Meter, Inc.	-24.83%	-17.15%	38.28%	42.58%	3.23%	14.11%	46.37%	33.46%	4.09%	30.91%
SHOO Steven Madden, Ltd.	10.00%	0.63%	3.21%	34.62%	-29.52%	33.46%	-17.43%	44.42%	-1.19%	30.63%

Correlation

The correlation between BMI and SHOO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Dec 13, 1993	0.25

The correlation between BMI and SHOO shifts across timeframes, from 0.25 (all time) to 0.42 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap BMI : $3.83B SHOO : $3.26B
EPS BMI : $4.42 SHOO : $1.07
PE Ratio BMI : 29.46 SHOO : 42.47
PS Ratio BMI : 4.29 SHOO : 1.23
PB Ratio BMI : 3.94 SHOO : 3.57
Total Revenue (TTM) BMI : $896.73M SHOO : $2.63B
Gross Profit (TTM) BMI : $370.96M SHOO : $1.18B
EBITDA (TTM) BMI : $199.34M SHOO : $148.60M

Return for Risk

BMI vs. SHOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BMI

BMI Risk / Return Rank: 6
BMI Sharpe Ratio Rank: 4
BMI Sortino Ratio Rank: 7
BMI Omega Ratio Rank: 4
BMI Calmar Ratio Rank: 8
BMI Martin Ratio Rank: 7

SHOO

SHOO Risk / Return Rank: 84
SHOO Sharpe Ratio Rank: 89
SHOO Sortino Ratio Rank: 84
SHOO Omega Ratio Rank: 83
SHOO Calmar Ratio Rank: 82
SHOO Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BMI vs. SHOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Badger Meter, Inc. (BMI) and Steven Madden, Ltd. (SHOO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BMI	SHOO	Difference
Sharpe ratio: Return per unit of total volatility	-1.06	1.96	-3.02
Sortino ratio: Return per unit of downside risk	-1.37	2.54	-3.91
Omega ratio: Gain probability vs. loss probability	0.78	1.33	-0.55
Calmar ratio: Return relative to maximum drawdown	-0.87	2.76	-3.63
Martin ratio: Return relative to average drawdown	-1.43	7.31	-8.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BMI vs. SHOO - Sharpe Ratio Comparison

The current BMI Sharpe Ratio is -1.06, which is lower than the SHOO Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of BMI and SHOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BMI	SHOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.06	1.96	-3.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.07	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.22	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.20	+0.25

Drawdowns

BMI vs. SHOO - Drawdown Comparison

The maximum BMI drawdown since its inception was -68.22%, smaller than the maximum SHOO drawdown of -77.06%. Use the drawdown chart below to compare losses from any high point for BMI and SHOO.

Drawdown Indicators

	BMI	SHOO	Difference
Max Drawdown Largest peak-to-trough decline	-68.22%	-77.06%	+8.84%
Max Drawdown (1Y) Largest decline over 1 year	-53.91%	-31.73%	-22.18%
Max Drawdown (3Y) Largest decline over 3 years	-55.06%	-60.21%	+5.15%
Max Drawdown (5Y) Largest decline over 5 years	-55.06%	-60.21%	+5.15%
Max Drawdown (10Y) Largest decline over 10 years	-55.06%	-60.21%	+5.15%
Current Drawdown Current decline from peak	-48.18%	-4.84%	-43.34%
Average Drawdown Average peak-to-trough decline	-19.02%	-22.85%	+3.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.67%	11.97%	+20.70%

Volatility

BMI vs. SHOO - Volatility Comparison

Badger Meter, Inc. (BMI) and Steven Madden, Ltd. (SHOO) have volatilities of 10.39% and 9.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BMI	SHOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.39%	9.99%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	38.66%	30.33%	+8.33%
Volatility (1Y) Calculated over the trailing 1-year period	44.19%	44.82%	-0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.88%	39.12%	-5.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.70%	40.39%	-6.69%

Dividends

BMI vs. SHOO - Dividend Comparison

BMI's dividend yield for the trailing twelve months is around 1.23%, less than SHOO's 2.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BMI Badger Meter, Inc.	1.23%	0.85%	0.58%	0.64%	0.78%	0.71%	0.74%	0.99%	1.14%	1.03%	1.16%	1.33%
SHOO Steven Madden, Ltd.	2.32%	2.02%	1.98%	2.00%	2.63%	1.29%	0.42%	1.33%	1.78%	0.00%	0.00%	0.00%

Financials

BMI vs. SHOO - Profitability Comparison

The chart below illustrates the profitability comparison between Badger Meter, Inc. and Steven Madden, Ltd. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BMI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Badger Meter, Inc. reported a gross profit of 84.33M and revenue of 202.28M. Therefore, the gross margin over that period was 41.7%.

SHOO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Steven Madden, Ltd. reported a gross profit of 357.42M and revenue of 653.10M. Therefore, the gross margin over that period was 54.7%.

BMI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Badger Meter, Inc. reported an operating income of 35.17M and revenue of 202.28M, resulting in an operating margin of 17.4%.

SHOO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Steven Madden, Ltd. reported an operating income of 98.74M and revenue of 653.10M, resulting in an operating margin of 15.1%.

BMI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Badger Meter, Inc. reported a net income of 27.34M and revenue of 202.28M, resulting in a net margin of 13.5%.

SHOO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Steven Madden, Ltd. reported a net income of 71.82M and revenue of 653.10M, resulting in a net margin of 11.0%.

Frequently Asked Questions

Can I hold both BMI and SHOO in my portfolio?

BMI and SHOO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BMI or SHOO?

BMI has higher volatility (10.39%) compared to SHOO (9.99%). In terms of maximum drawdown, BMI dropped -68.22% vs SHOO's -77.06%.

Which has better risk-adjusted returns?

SHOO currently has the higher Sharpe Ratio (1.96 vs -1.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.