Crocs, Inc. (CROX) vs Rocky Brands, Inc. (RCKY)

Crocs, Inc. and Rocky Brands, Inc. are both Footwear & Accessories companies. Crocs, Inc. is the larger, with a market value of $7.2B against $370.9M — 19.4× the size. Rocky Brands, Inc. trades at the lower P/E: 12.8× against 12.9×. Rocky Brands, Inc. grew revenue faster over the last twelve months: 9.24% against −2.03%. Crocs, Inc. has the higher net margin (14.6% vs 5.72%) and the higher return on invested capital (20.8% vs 7.28%). Across the 22 metrics below, Rocky Brands, Inc. leads on 12 and Crocs, Inc. on 10.

Valuation

Metric CROX RCKY Footwear & Accessories median
P/E 12.87 12.78 15.84
P/S 1.82 0.73 1.13
P/B 5.33 1.40 3.19
Price to free cash flow 10.59 22.47 12.42
EV/EBITDA 9.24 8.85 10.14
EV/Sales 2.10 0.97 1.24
Earnings yield 7.77% 7.83% 5.41%
Free cash flow yield 9.44% 4.45% 4.92%

Profitability

Metric CROX RCKY Footwear & Accessories median
Gross margin 57.47% 42.22% 49.08%
Operating margin 20.73% 8.84% 8.69%
Net margin 14.63% 5.72% 5.72%
Free cash flow margin 17.38% 3.25% 8.58%
Return on equity 42.30% 11.48% 13.13%
Return on assets 13.48% 6.01% 6.28%
Return on invested capital 20.83% 7.28% 10.98%

Growth

Metric CROX RCKY Footwear & Accessories median
Revenue growth (TTM) (2.03%) 9.24% (0.32%)
EPS growth (last fiscal year) (109.45%) 94.74% 12.95%
Revenue growth, 5-year CAGR 23.86% 11.69% 9.43%
Net income growth, 5-year CAGR 0.00% 1.22% 0.00%

Health

Metric CROX RCKY Footwear & Accessories median
Debt to equity 0.94 0.46 0.49
Current ratio 1.49 2.97 2.26
Net debt to EBITDA 4.81 2.51 0.38

Dividend

Metric CROX RCKY Footwear & Accessories median
Dividend yield — 1.32% 1.94%
Payout ratio — 0.17 0.37

Size

Metric CROX RCKY Footwear & Accessories median
Market cap 7.20b 370.85m 1.10b

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