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Rocky Brands, Inc.

RCKY Consumer Cyclical Footwear & Accessories

Rocky Brands, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $482.0 million, up 6.22% from fiscal 2024.

Revenue
+12.0%
EPS
+285.4%
Free cash flow
+275.5%
Total debt
−7.65%

Quarter to June 2026, against a year earlier

49.27 0.23 −0.46%
Market cap
$370.9M
P/E
12.8×
Fwd P/E
0.0×
Dividend yield
1.32%
F-score
7/9
Altman Z
2.80
Beneish M
−2.33
Dividend safety
76/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.03
Sold, $m 1.98
Trades a month
Dec 25 Mar 26 Jun 26 Sep 26
Buy 1 — — — — — — — 1 — — —
Sell 3 — — — — — — — 4 5 — —
Insider Ownership 3.98%

Capital & Financial Ratios $m

Size
Market Cap 370.85
Revenue ttm 505.03
Net income ttm 28.86
Free cash flow ttm 16.44
Net debt Q 119.76
Valuation
P/E 12.78
Forward P/E 0.00
Price / sales 0.73
Forward P/S Powerpack
Price / FCF 22.47
Price / book 1.40
Financial health
Current ratio Q 2.97 (at or above 1.5: strong)
Debt / equity Q 0.46 (at or below 0.5: strong)
Interest coverage Q 9.87
Growth
Revenue growth Q +12.04% (above 0%: growing)
Operating income growth Q +175.08% (above 0%: growing)
EPS, this year +62.27% (at or above 15%: strong)
EPS, next year A −19.19% (below 0%: weak)
Revenue, next year A +10.46% (at or above 10%: strong)
EPS, past 5 yrs +0.69%
EPS, next 5 yrs A +10.00%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.0×, against a ten-year median of 0.7×; over the ten years it ranged from 0.3× in 2017 to 1.9× in 2021.
P/E against its own 10 years 41.30%
10-year low 10-year high
P/S against its own 10 years 75.69%
10-year low 10-year high
P/B against its own 10 years 83.40%
10-year low 10-year high
EV/Sales against its own 10 years 89.57%
10-year low 10-year high
EV/FCF against its own 10 years 85.67%
10-year low 10-year high

Dividends

Yield
1.32%
Annual rate
0.65
Payout ratio
17.0%
Growth, 2017–26
+1.32%/yr
  1. 0.44 ’17
  2. 0.47 ’18 +7%
  3. 0.54 ’19 +15%
  4. 0.56 ’20 +4%
  5. 0.59 ’21 +5%
  6. 0.62 ’22 +5%
  7. 0.62 ’23 +0%
  8. 0.62 ’24 +0%
  9. 0.62 ’25 +0%
  10. 0.50 ’26 −20%
paid

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 4 4 3 3
Receivables 81 73 83 97
Inventory 169 167 181 174
Other — — — —
258 246 271 279
2023 2024 2025 Q'26
Payables 50 58 53 59
ST’ Debt 3 8 8 8
Other 1 — — —
72 90 96 94

Compound Annual Growth %

10y 5y 3y
Sales 5.99% 11.69% (7.83%)
Cash Flow (3.49%) (12.31%) (5.19%)
Earnings 12.93% 1.22% 2.86%
Book Value 5.90% 7.03% 5.37%

Earnings Trends EPS, adjusted, against the consensus

Q1 FY24 Estimate 0.02 Actual 0.41

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY23 −0.25 0.00 Beat by 0.25
Q3 FY23 0.31 1.09 Beat by 0.78
Q4 FY23 0.89 0.98 Beat by 0.09
Q1 FY24 0.02 0.41 Beat by 0.39

EPS $

Mar Jun Sep Dec Year
’26 0.17 1.83 — — —
’25 0.66 0.48 0.96 0.86 2.96
’24 0.34 (0.17) 0.70 0.64 1.52
’23 (0.05) (0.37) 0.93 0.91 1.41
’22 0.99 0.12 0.77 0.89 2.78
’21 0.61 0.52 (0.05) 1.69 2.77
’20 0.16 0.33 1.04 1.33 2.86
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 124 118 — — —
’25 114 106 123 140 482
’24 113 98 115 128 454
’23 110 100 126 126 462
’22 167 162 147 139 615
’21 88 132 126 169 514
’20 56 56 78 88 277
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2 8 — — —
’25 1 1 (3) 18 16
’24 17 6 4 24 53
’23 21 (1) 11 42 74
’22 14 (22) (1) 28 19
’21 3 8 (40) (26) (55)
’20 14 5 (1) 13 31
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1 4 — — —
’25 1 (2) (5) 17 10
’24 17 6 2 23 48
’23 20 (2) 10 41 70
’22 13 (25) 3 22 12
’21 2 0 (46) (32) (76)
’20 11 3 (4) 10 20
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 260 253 253 270 277 514 615 462 454 482 505 +7.1% 532 568 — +8.5%
Gross margin, % 29.48 31.90 34.44 36.13 37.77 37.83 36.59 38.67 39.45 40.93 42.22 +11.5 pt
EBT (4) 9 18 22 27 25 26 14 14 27 35 n/m
EBT margin, % (1.39) 3.70 7.08 8.22 9.72 4.93 4.19 3.06 3.10 5.64 7.03 +7.0 pt
Net income (2) 10 15 17 21 21 20 10 11 22 29 n/m
Per share, $
Per share, $ Revenue 34.68 34.09 34.09 36.61 37.97 70.61 84.12 62.72 61.02 64.49 67.26 +7.1%
Earnings (0.29) 1.29 1.96 2.36 2.87 2.82 2.80 1.42 1.53 2.98 3.85 n/m
Cash flow 2.84 2.30 2.37 2.45 4.30 (7.53) 2.61 9.99 7.09 2.18 3.19 (2.9%)
Capex (0.78) (0.21) (0.57) (1.04) (1.60) (2.89) (0.92) (0.53) (0.63) (0.88) (1.00) +1.3%
Free cash flow 2.06 2.09 1.80 1.41 2.70 (10.43) 1.70 9.46 6.47 1.30 2.19 (5.0%)
Book value 18.00 18.99 20.45 22.29 24.58 27.17 29.45 30.36 31.23 33.73 35.11 +7.2%
Shares, m 8 7 7 7 7 7 7 7 7 7 7 0.0%
Valuation, ×
Valuation, × P/E 0.00 15.35 13.20 12.42 9.78 14.11 8.89 20.41 15.00 9.88 12.78 11.9
P/S 0.34 0.58 0.76 0.80 0.74 0.56 0.30 0.46 0.37 0.45 0.73 0.5
P/B 0.65 1.04 1.27 1.32 1.14 1.47 0.85 0.95 0.73 0.87 1.40 1.0
EV/Sales 0.37 0.58 0.73 0.75 0.64 1.08 0.70 0.83 0.65 0.70 0.97 0.7
EV/FCF 6.32 9.38 13.84 19.60 9.03 (7.30) 34.89 5.48 6.12 34.87 29.76 13.2
Cash, $m
Cash, $m Operating cash flow 21 17 18 18 31 (55) 19 74 53 16 24 (2.9%)
Capex (6) (2) (4) (8) (12) (21) (7) (4) (5) (7) (8) +1.3%
Free cash flow 15 16 13 10 20 (76) 12 70 48 10 16 (5.0%)
Balance, $m
Balance, $m Working capital 101 99 106 115 123 235 245 187 156 175 185 +6.3%
Net debt 10 (1) (10) (14) (27) 264 251 169 125 120 120 +31.6%
Shareholders’ equity 135 141 152 165 180 198 215 224 232 252 264 +7.2%
Returns, %
Returns, % ROA (1.15) 5.44 8.13 8.94 9.64 4.82 3.39 1.96 2.43 4.77 6.01 +5.9 pt
ROIC (1.32) 5.29 7.98 9.15 11.12 4.87 5.90 5.64 5.44 6.25 7.28 +7.6 pt
ROE (1.54) 6.94 9.95 11.04 12.18 10.90 9.90 4.75 5.00 9.20 11.48 +10.7 pt
People
People Employees 2,407 2,079 2,087 1,929 2,000 2,825 2,500 2,100 2,535 2,200 — (1.0%)
Revenue/emp, $m 0.11 0.12 0.12 0.14 0.14 0.18 0.25 0.22 0.18 0.22 — +8.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Rocky Brands, Inc. vs peers in Footwear & Accessories (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CROX Crocs, Inc. $7.2B 12.9× 10.1× +2.62% (above 0%: growing) n/m +22.93% (above 0%: growing) 59.41% 24.22% Compare
BIRK Birkenstock Holding PLC $5.9B 15.7× 16.6× +16.05% (above 0%: growing) −10.26% (below 0%: shrinking) −3.15% (below 0%: shrinking) 59.05% 28.22% Compare
SHOO Steven Madden, Ltd. $3.3B 21.5× 16.4× +19.12% (above 0%: growing) n/m +233.50% (above 0%: growing) 46.50% 5.90% Compare
WWW Wolverine World Wide, Inc. $1.7B 16.0× 12.7× +6.79% (above 0%: growing) +15.62% (above 0%: growing) +104.37% (above 0%: growing) 46.47% 9.34% Compare
WEYS Weyco Group, Inc. $501.3M 14.3× 6.9× +6.86% (above 0%: growing) +487.50% (above 0%: growing) −31.69% (below 0%: shrinking) 70.37% 27.36% Compare
FOSL Fossil Group, Inc. $405.1M — (loss-making) — (loss-making) −4.86% (below 0%: shrinking) n/m −130.01% (below 0%: shrinking) 62.38% 1.53% Compare
RCKY Rocky Brands, Inc. $370.9M 12.8× — (loss-making) +12.04% (above 0%: growing) +285.42% (above 0%: growing) +275.54% (above 0%: growing) 51.37% 16.63%
DBI Designer Brands Inc. $347.6M 23.9× — (loss-making) −1.23% (below 0%: shrinking) +40.91% (above 0%: growing) +385.67% (above 0%: growing) 50.01% 7.49% Compare
VRA Vera Bradley, Inc. $190.5M — (loss-making) — (loss-making) +1.12% (above 0%: growing) n/m +462.76% (above 0%: growing) 59.76% 5.83% Compare
Median of peers $1.1B 15.8× 12.7× +4.71% +28.27% +63.65% 59.23% 8.42%

All 14 Footwear & Accessories stocks →

Pay and ownership Proxy statement filed 28 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.25m 1.41m 116.00
2024 799.30k 698.83k 86.00
2023 670.35k 779.01k 111.00
2022 641.07k 529.84k 85.00
2021 621.22k 761.84k 140.00

Ownership

Directors and executive officers, together 7.60%
Dimensional Fund Advisors LP 7.40%
AllianceBernstein L.P. 6.80%
BlackRock, Inc. 6.60%
Raymond James & Associates, Inc. 6.40%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Rocky Brands, Inc. (RCKY) Latest News

28 Oct

Impact 4 · · The Motley Fool transcript
Impact 4 · · Business Wire
Impact 3 · · Associated Press
Impact 3 · · Associated Press Finance
Impact 3 · · Simply Wall St.

27 Oct

Impact 4 · · MarketBeat
Impact 4 · · Business Wire

20 Oct

Impact 3 · · Business Wire

19 Oct

Impact 4 · · wwd.com

29 Jul

Impact 4 ·

28 Jul

Impact 3 · · MarketBeat transcript
Impact 3 ·

29 Apr

Impact 4 · · GuruFocus.com

28 Apr

Impact 4 · · MarketBeat
Impact 4 · · Business Wire

21 Apr

Impact 4 · · The Motley Fool transcript

2 Apr

Impact 3 ·

25 Feb

Impact 4 · · Moby
Impact 4 · · MarketBeat
Impact 4 · · GuruFocus.com

24 Feb

Impact 4 · · Associated Press Finance
Impact 4 · · Business Wire

2 Dec

Impact 3 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

30 Oct

Impact 4 ·

2 Oct

Impact 3 · · Simply Wall St.Simply Wall St.

11 Sep

Impact 3 · · Simply Wall St.

26 Aug

Impact 3 · · Investopedia
Impact 3 ·

22 Aug

Impact 3 ·

31 Jul

Impact 4 ·
stockrow.com/RCKY · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com