SHOE STATION GROUP INC
$14.36
+0.16 (+1.13%) · delayed · Nov 13, 2026
Five-year price
52w $10.20 to $21.61
- Market cap
- $390M
- Enterprise value
- $273M
- P/E
- 7.6×
- 5.9× on 3y avg EPS
- EV / EBIT
- 4.1×
- FCF yield
- 6.8%
- ROIC
- 8.7%
- Debt / equity
- —
- Piotroski F
- 6/9
Value scorecard · FY2026
Does it pass the value tests?
Quality
83
- ●ROIC > 12% (5y avg)5y avg ROIC 21.1%
- ●ROE > 15% (5y avg)5y avg ROE 17.3%
- ●Stable operating marginsMargin volatility 3.5% (σ, 5y)
- ○Earnings convert to cashFCF / net income 57% (5y avg)
- ●Growing revenueRevenue CAGR 5y 3.1%
- ●Shrinking share countDiluted shares -3.4% over 5y
Value
100
- ●P/E below 15P/E 7.6
- ●EV/EBIT below 12EV/EBIT 4.1
- ●FCF yield above 6%FCF yield 6.8%
- ●Price below Graham NumberGraham Number $32.93
- ●P/B below 3P/B 0.6
Safety
100
- –Debt / equity below 0.5D/E n/a
- ●Debt payable in < 4 yrs of earningsNet debt $-0.1B
- ●Interest coverage > 8xCoverage 179.0x
- ●Current ratio > 1.5Current ratio 3.76
- ●Piotroski F-score ≥ 6F-score 6/9
Graham Defensive
86
- ○Adequate size (revenue > $2B)Revenue $1.1B
- ●Strong condition (current ratio ≥ 2)Current ratio 3.76
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 49%
- ●Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 5.9
- ●P/E × P/B ≤ 22.5Product 3.4
Valuation lab
What do you have to believe?
At $14.36, the market is pricing in about −3.3% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt −$117M · 27M shares · 5y revenue CAGR 3.1%
Intrinsic value
$20.32
Price
$14.36
Margin of safety
29%
What the price implies
The market is paying for −3.3% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
55% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,001 | 1,019 | 1,030 | 1,037 | 977 | 1,330 | 1,262 | 1,176 | 1,203 | 1,135 |
| Gross profit | 289 | 296 | 309 | 312 | 280 | 527 | 468 | 421 | 429 | 415 |
| Operating income | 38 | 38 | 50 | 54 | 22 | 208 | 146 | 94 | 91 | 67 |
| Operating margin | 3.8% | 3.7% | 4.8% | 5.2% | 2.2% | 15.6% | 11.6% | 8.0% | 7.6% | 5.9% |
| Pre-tax income | 38 | 37 | 50 | 55 | 22 | 207 | 147 | 96 | 97 | 70 |
| Income tax | 14 | 18 | 12 | 12 | 6 | 52 | 37 | 23 | 24 | 18 |
| Net income | 24 | 19 | 38 | 43 | 16 | 155 | 110 | 73 | 74 | 52 |
| EPS (diluted) | 1.28 | 1.15 | 2.45 | 1.46 | 0.56 | 5.42 | 3.96 | 2.68 | 2.68 | 1.90 |
| Diluted shares | 18 | 16 | 15 | 29 | 28 | 29 | 28 | 27 | 28 | 28 |
Who owns it