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Rocky Brands, Inc. (RCKY) stock

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NASDAQ: RCKY Nasdaq Footwear Next results ~January 26, 2027

C Fundamentals grade

Rocky Brands, Inc. is a US-listed company in the footwear industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$88

Cash-flow model

Base case. Range ~$62–$120 across our lower- and higher-growth cases (-0.1%–9.9% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 73% above it.

Price used: $51.22, November 2, 2026

Rocky Brands, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds54 adding, 52 cuttingOf 28 active managers that changed their stake, 11 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Rocky Brands files

Where Rocky Brands stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $505m, up 9.2% on a year earlier, faster than the 8.2% growth a quarter earlier. Free-cash-flow margin fell to 3.3% from 5.3% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 6 financial-health checks. Our cash-flow model value is $84.27 a share, against a share price of $51.19. At that price, our model says the market is pricing in cash flow shrinking about 2.1% a year for five years, close to the -0.4% a year revenue growth it has delivered.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 26, 2027 (estimated)

Rocky Brands, Inc.'s trailing-twelve-month revenue grew 9.2% year on year, with a free-cash-flow margin of 3.3%. Where it stands out: stock pay as % of revenue of 0.3% ranks 2 of 9 footwear companies we cover. Where it lags: days sales outstanding of 56 days ranks 8 of 8 footwear companies we cover.

Our discounted-cash-flow model values the business at ~$88 per share in the base case (~$62–$120 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 33.0% while net income grew 54.9%: a 88pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $51.22 is 73% below our value per share of $88.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 54% and a beta of 0.6 against the S&P 500.
  • Weak cash conversion. Free cash flow was 57% of net income over the last 12 months.
  • Below peers: days sales outstanding. Days sales outstanding of 56 days ranks 8 of 8 footwear companies we cover (median 43 days).
  • Below peers: gross margin. Gross margin of 42.2% ranks 9 of 10 footwear companies we cover (median 49.1%).
  • Earnings expected to fall. The consensus expects earnings per share to fall 19% next year.

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
$1.76 against an average estimate of $1.50: beat by 17.3%
Revenue
$118m, up 12.0% on a year earlier
Share reaction
+8.7% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
Next report
October 27, 2026; average EPS estimate $1.41

Rocky Brands' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.0%
  • 1 week+12.0%
  • 1 month+9.6%
  • This year+76.7%
  • 1 year+84.8%
  • 5 years+33.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$505M
Operating margin
8.8%
Net margin
5.7%
EPS (TTM, diluted)
$3.80

Growth

Revenue growth
+9.2%
Change in growth rate
+1.0 pts
Share count change
+1.1%

Cash

Free cash flow (TTM)
$16.4M
FCF margin
3.3%
Stock pay % of revenue
0.3%

Earnings

Last results
October 27, 2026
Next results (est.)
January 26, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Rocky Brands, Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 2.2% a year for five years.That is close to the -0.4% a year revenue growth Rocky Brands has delivered.

  • Priced in-2.2%
  • Last 12 months9.2%
  • 3 years a year0.6%
  • 5 years a year-0.4%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($51.38, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$88
Price used
$51.38close November 3, 2026
Implied change
▲ +72%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Rocky Brands, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($38.9M, FY2026 Q2 TTM), growing 7.2% and 5.3% in the next two years (forecasts, guidance and its record), then back to 4.9% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$62–~$120 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Rocky Brands, Inc.'s free cash flow after stock-based pay ( $38.9M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Rocky Brands, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.01 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$88 ~$62–$120 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$55 ~$41–$71 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$30 ~$21–$44 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$28 ~$25–$34 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$58 ~$28–$88 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Rocky Brands, Inc. with Footwear in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −35%
  • Revenue growth 5 points higher ▲ +45%
  • Free-cash-flow margin 1 point lower ▼ −44%
  • Last year's free-cash-flow margin change, if it persists ▼ −47%
  • Discount rate 1 point higher ▼ −21%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $59$85$121$168$229$308
8.5% $41$61$86$120$163$219
10% $31$46$65$91$124$166

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$8.99$9.35$15.79$22.13$25.54$24.93$35.81$21.67$28.47$21.99$28.99$51.22
Market value$68m$70m$118m$165m$190m$183m$265m$160m$210m$164m$218m$389m
+ Net debt (− = net cash)$20m$11m−$1m−$10m−$16m−$28m$268m$254m$171m$127m$121m$121m
Enterprise value$88m$81m$116m$155m$175m$155m$533m$414m$381m$292m$340m$510m
Multiples
Price / sales 0.3x0.3x0.5x0.7x0.7x0.7x0.5x0.3x0.5x0.4x0.5x0.8x
Price / earnings 10.3x—12.3x11.3x10.9x8.7x12.9x7.8x20.2x14.4x9.8x13.5x
Price / free cash flow 4.7x4.6x9.2x12.4x18.3x9.3x—12.9x3.0x3.4x22.5x23.6x
EV / EBITDA 5.0x17.4x6.3x6.6x6.4x4.8x11.3x7.3x8.2x7.1x7.2x9.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

47 /100

Moderate moat

How hard Rocky Brands's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 8 / 20

    Cash operating profit has been a median 7.3% of total assets over 7 years.

  • Pricing power 12 / 20

    Gross margin has been a median 37.3%, moving by 3.4 percentage points (standard deviation) across 10 years.

  • Durability 4 / 20

    Operating margin has been a median 7.2%; its worst year was 1.7%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 9 of 10 years, at a median 5.7% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 3.2% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (52 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $5.29 +62% $532m +11%
Next $4.28 −19% $568m +7%

Next year's EPS estimate has moved +1.8% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +7.0% on 90 days ago. In the last 30 days, 2 analysts raised Rocky Brands, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Rocky Brands, Inc., last 90 days
$4.00 $4.50 $5.00 $5.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.95 Current fiscal year, 60 days ago: $4.95 Current fiscal year, 30 days ago: $4.95 Current fiscal year, 7 days ago: $4.95 Current fiscal year, Now: $5.29 $5.29 Next fiscal year, 90 days ago: $4.20 Next fiscal year, 60 days ago: $4.20 Next fiscal year, 30 days ago: $4.20 Next fiscal year, 7 days ago: $4.20 Next fiscal year, Now: $4.28 $4.28

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.95$4.20
60 days ago $4.95$4.20
30 days ago $4.95$4.20
7 days ago $4.95$4.20
Now $5.29$4.28

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.50 $1.76 +17.3%
Jun 2026 $0.35 $1.90 +442.9%
Mar 2026 $0.27 $0.24 −11.1%
Dec 2025 $0.48 $0.94 +93.8%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Rocky Brands, Inc.'s revenue by +7.2% next year and +5.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+9.0%, weight 56%) and the company's own record (+4.9%, weight 44%) . How the weights are set.

Analyst recommendations

2 analysts, Oct 2026
Buy00%
Hold2100%
Sell00%

Monthly trend

  1. Oct 202622
  2. Sep 202622
  3. Aug 2026112

Counts of recommendations published by analysts covering Rocky Brands, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.6%
of tradable shares
Days to cover
3.67
at average volume
Short interest, 1 month
−17%
to October 15, 2026
Held by institutions
81%
of shares
Held by insiders
6.5%
of shares
Employees
2,200
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +84.8%

$27.72 on October 31, 2025 to $51.22

ThenNowEffect
Revenue (last 12 months) $462m $505m +9.2%
Net margin 4.0% 5.7% +41.8%
P/E multiple 11.2x 13.5x +20.5%
Share count 8m 8m −1.1%

Biggest factor: net margin.

Last 3 years +164.2%

$19.39 on November 3, 2023 to $51.22

ThenNowEffect
Revenue (last 12 months) $497m $505m +1.7%
Net margin 1.8% 5.7% +212.2%
P/E multiple 15.7x 13.5x −14.0%
Share count 7m 8m −3.2%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
RCKY+44%−40%+31%−23%+32%+77%
Industry peers (median)+40%−12%+37%+24%−19%+17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
RCKY50%25%42%33%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
RCKY−48%−61%−61%−48%−52%−31%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 80% from May 7, 2021 to October 31, 2023. Getting back needed a 407% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$28.04 – $51.22
From 52-week high
0.0%
vs 50-day average
+12.8%
vs 200-day average
+24.8%
Volatility (1 year)
55%
Beta vs S&P 500
0.60

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±19.6%
After a week
5 up, 6 down
typical move ±22.5%
After a month
6 up, 5 down
typical move ±22.4%
Results releasedNext dayS&P 500 next day5 days21 days
October 27, 2026 +8.7% +0.9% — —
July 28, 2026 +18.2% −1.3% +21.5% +8.8%
April 28, 2026 −16.2% −0.5% −15.8% −10.6%
February 24, 2026 +40.4% +1.6% +39.8% +19.6%
October 28, 2025 −0.8% +0.3% −2.9% +4.5%
July 29, 2025 +12.4% −0.4% +15.0% +30.6%
April 29, 2025 +58.9% +0.7% +39.7% +68.8%
February 25, 2025 −9.8% −0.4% −20.3% −22.4%
October 30, 2024 −26.6% −2.3% −25.4% −21.7%
July 30, 2024 −2.8% +1.1% −22.1% −11.5%
April 30, 2024 +22.2% −1.9% +27.0% +37.4%
February 28, 2024 −18.4% +0.2% −18.5% −10.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Rocky Brands, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Rocky Brands, Inc.
$440M $460M $480M $500M $520M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $474.8M Revenue (TTM), FY23 Q4: $461.8M Revenue (TTM), FY24 Q1: $464.3M Revenue (TTM), FY24 Q2: $462.7M Revenue (TTM), FY24 Q3: $451.7M Revenue (TTM), FY24 Q4: $453.8M Revenue (TTM), FY25 Q1: $454.9M Revenue (TTM), FY25 Q2: $462.3M Revenue (TTM), FY25 Q3: $470.3M Revenue (TTM), FY25 Q4: $482M Revenue (TTM), FY26 Q1: $492.3M Revenue (TTM), FY26 Q2: $505M $505M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $474.8M
FY23 Q4 $461.8M
FY24 Q1 $464.3M
FY24 Q2 $462.7M
FY24 Q3 $451.7M
FY24 Q4 $453.8M
FY25 Q1 $454.9M
FY25 Q2 $462.3M
FY25 Q3 $470.3M
FY25 Q4 $482M
FY26 Q1 $492.3M
FY26 Q2 $505M
Revenue growth, TTM YoY Rocky Brands, Inc.
-30% -20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -26.5% Revenue growth, TTM YoY, FY23 Q4: -25.0% Revenue growth, TTM YoY, FY24 Q1: -16.9% Revenue growth, TTM YoY, FY24 Q2: -6.8% Revenue growth, TTM YoY, FY24 Q3: -4.9% Revenue growth, TTM YoY, FY24 Q4: -1.7% Revenue growth, TTM YoY, FY25 Q1: -2.0% Revenue growth, TTM YoY, FY25 Q2: -0.1% Revenue growth, TTM YoY, FY25 Q3: 4.1% Revenue growth, TTM YoY, FY25 Q4: 6.2% Revenue growth, TTM YoY, FY26 Q1: 8.2% Revenue growth, TTM YoY, FY26 Q2: 9.2% 9.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -26.5%
FY23 Q4 -25.0%
FY24 Q1 -16.9%
FY24 Q2 -6.8%
FY24 Q3 -4.9%
FY24 Q4 -1.7%
FY25 Q1 -2.0%
FY25 Q2 -0.1%
FY25 Q3 4.1%
FY25 Q4 6.2%
FY26 Q1 8.2%
FY26 Q2 9.2%
Operating margin (TTM) Rocky Brands, Inc.
6% 7% 8% 9% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 7.2% Operating margin (TTM), FY23 Q4: 7.7% Operating margin (TTM), FY24 Q1: 8.4% Operating margin (TTM), FY24 Q2: 9.0% Operating margin (TTM), FY24 Q3: 8.3% Operating margin (TTM), FY24 Q4: 6.8% Operating margin (TTM), FY25 Q1: 7.0% Operating margin (TTM), FY25 Q2: 7.4% Operating margin (TTM), FY25 Q3: 7.7% Operating margin (TTM), FY25 Q4: 7.7% Operating margin (TTM), FY26 Q1: 6.5% Operating margin (TTM), FY26 Q2: 8.8% 8.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 7.2%
FY23 Q4 7.7%
FY24 Q1 8.4%
FY24 Q2 9.0%
FY24 Q3 8.3%
FY24 Q4 6.8%
FY25 Q1 7.0%
FY25 Q2 7.4%
FY25 Q3 7.7%
FY25 Q4 7.7%
FY26 Q1 6.5%
FY26 Q2 8.8%
FCF margin (TTM) Rocky Brands, Inc.
0% 5% 10% 15% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 11.7% FCF margin (TTM), FY23 Q4: 15.1% FCF margin (TTM), FY24 Q1: 14.3% FCF margin (TTM), FY24 Q2: 15.9% FCF margin (TTM), FY24 Q3: 14.8% FCF margin (TTM), FY24 Q4: 10.6% FCF margin (TTM), FY25 Q1: 6.9% FCF margin (TTM), FY25 Q2: 5.3% FCF margin (TTM), FY25 Q3: 3.4% FCF margin (TTM), FY25 Q4: 2.0% FCF margin (TTM), FY26 Q1: 2.0% FCF margin (TTM), FY26 Q2: 3.3% 3.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 11.7%
FY23 Q4 15.1%
FY24 Q1 14.3%
FY24 Q2 15.9%
FY24 Q3 14.8%
FY24 Q4 10.6%
FY25 Q1 6.9%
FY25 Q2 5.3%
FY25 Q3 3.4%
FY25 Q4 2.0%
FY26 Q1 2.0%
FY26 Q2 3.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Rocky Brands took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $482M
  2. Cost of revenue $285M · 59.1%
  3. Gross profit $197M · 40.9%
  4. Other operating costs $160M · 33.2%
  5. Operating income $37.2M · 7.7%
  6. Income tax $4.9M · 1.0%
  7. Interest and other $10M · 2.1%
  8. Net income $22.3M · 4.6%

Shares of revenue. Source: Rocky Brands's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 229 253 240 229 245 286 269 260 253 253 270 277 514 615 462 454 482 505
Gross profit 85 89 88 81 84 96 89 77 81 87 98 105 195 225 179 179 197 213
EBITDA 15 23 19 20 17 23 18 5 18 23 27 32 47 56 46 41 47 55
Operating income 9 17 13 14 11 16 10 −3 12 18 22 27 36 44 35 31 37 45
Net income 1 8 8 9 7 10 7 −2 10 15 17 21 21 20 10 11 22 29
Diluted EPS $0.21 $1.14 $1.11 $1.18 $0.98 $1.30 $0.87 −$0.29 $1.29 $1.95 $2.35 $2.86 $2.77 $2.78 $1.41 $1.52 $2.96 $3.80
Growth (year on year)
Revenue — +10.2% −5.1% −4.8% +7.1% +16.9% −5.9% −3.4% −2.7% −0.2% +7.0% +2.6% +85.4% +19.7% −25.0% −1.7% +6.2% +9.2%
EBITDA — +50.3% −17.1% +4.8% −12.4% +31.4% −22.1% −73.6% — +27.8% +15.7% +19.5% +46.0% +19.1% −17.8% −10.8% +13.8% +22.9%
Operating income — +94.5% −22.9% +5.0% −20.3% +43.1% −33.5% −129.2% — +52.7% +22.3% +23.0% +32.4% +22.4% −19.7% −12.2% +19.7% +29.6%
Net income — — +8.1% +6.6% −16.7% +33.5% −32.9% −132.4% — +51.8% +20.0% +20.1% −1.9% −0.5% −49.1% +9.2% +95.6% +54.9%
Diluted EPS — — −2.6% +6.3% −16.9% +32.7% −33.1% −133.3% — +51.2% +20.5% +21.7% −3.1% +0.4% −49.3% +7.8% +94.7% +53.3%
Margins
Gross margin 36.8% 35.4% 36.8% 35.2% 34.1% 33.7% 33.0% 29.5% 31.9% 34.4% 36.1% 37.8% 37.8% 36.6% 38.7% 39.4% 40.9% 42.2%
EBITDA margin 6.6% 9.0% 7.8% 8.6% 7.1% 7.9% 6.6% 1.8% 7.2% 9.3% 10.0% 11.7% 9.2% 9.2% 10.0% 9.1% 9.8% 10.8%
Operating margin 3.8% 6.8% 5.5% 6.0% 4.5% 5.5% 3.9% −1.2% 4.7% 7.1% 8.2% 9.8% 7.0% 7.2% 7.7% 6.8% 7.7% 8.8%
Net margin 0.5% 3.0% 3.5% 3.9% 3.0% 3.4% 2.5% −0.8% 3.8% 5.8% 6.5% 7.6% 4.0% 3.3% 2.3% 2.5% 4.6% 5.7%
Free-cash-flow margin 13.5% 3.7% −0.4% 5.2% −4.2% 1.9% 5.4% 5.9% 5.1% 5.3% 3.8% 7.1% −14.8% 2.0% 15.1% 10.6% 2.0% 3.3%
Cash flow
Cash from operations 36 14 7 18 −2 13 23 21 17 18 18 31 −55 19 74 53 16 24
Capital spending 5 5 8 6 8 7 9 6 4 4 8 12 21 7 4 5 7 8
Free cash flow 31 9 −1 12 −10 6 15 15 13 13 10 20 −76 12 70 48 10 16
Stock-based pay 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 2 2
Free cash flow after stock pay 31 9 −1 12 −11 5 14 15 12 13 10 19 −77 11 68 47 8 15
Balance sheet
Cash 2 4 4 4 4 5 3 4 4 10 16 28 6 6 4 4 3 3
Total debt 0 35 35 23 38 36 24 15 2 — 0 0 274 260 175 131 124 124
Net debt (negative = net cash) −2 31 31 19 34 32 20 11 −1 −10 −16 −28 268 254 171 127 121 121
Diluted shares 6m 7m 7m 8m 8m 8m 8m 8m 7m 7m 7m 7m 7m 7m 7m 7m 8m 8m
Returned to shareholders
Dividends — — — 0 2 3 3 3 3 3 4 4 4 5 5 5 5 5
Buybacks — — — — — — — 2 1 1 2 3 0 0 — 0 0 2
Total returned — — — 0 2 3 3 5 4 5 5 7 4 5 5 5 5 7

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · June 30, 2026
What it owns · $490m
Short-term assets $279mLonger-term assets $211m
What it owes, and who funded it · $490m
Short-term liabilities $94mLonger-term liabilities $132mShareholders' equity $264m
  • Short-term assets cover short-term liabilities $279m of assets due within a year against $94m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $279m short-term assets against $132m of longer-dated liabilities.
  • More cash than debt $3m of cash against $122m of debt.
  • Debt below 40% of shareholders' equity Debt is 46% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 135% to 46% over five years.
  • A year's operating cash flow covers at least 20% of debt $24m of operating cash flow against $122m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Rocky Brands, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$2M
Dividends (TTM)
$4.8M
Returned to shareholders
41%
of free cash flow
Buybacks, last 3 fiscal years
$201,000
Diluted share count
+1.1%
year over year
Total shareholder yield
1.8%
dividends 1.2% + buybacks 0.5% of market value
Dividend payout ratio
17%
of net income paid out
Days sales outstanding
56 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in footwear
Last 12 months unless stated RCKY WEYS WWW BIRK SHOO CAL Median
Revenue, last 12 months $505m $280m $2.0bn $2.3bn $2.7bn $2.8bn $2.5bn
Revenue growth, last 12 months 9.2% −0.3% 7.2% 18.6% 18.2% 7.3% 7.2%
Revenue growth, 3-year average 0.6% −7.1% −8.5% — 12.3% −0.1% 0.6%
Revenue growth, latest quarter 12.0% 6.9% 6.8% — 19.1% 5.6% 6.8%
Gross margin 42.2% 49.1% 47.1% 59.1% 46.1% 46.2% 48.1%
Operating margin 8.8% 15.3% 8.7% 26.2% 7.5% 3.1% 10.7%
Operating margin, 3-year average 8.4% 13.3% 3.0% — 7.9% 4.2% 8.4%
Net margin 5.7% 12.4% 5.5% 16.6% 5.4% 1.8% 6.2%
Cash from operations / revenue 4.7% 17.2% 9.4% 18.3% 9.6% 4.1% 10.8%
Free-cash-flow margin 3.3% 16.2% 9.0% 14.7% 8.2% 2.2% 9.2%
Free-cash-flow margin, 3-year average 8.1% 17.1% 6.3% — 7.8% 1.9% 8.1%
Stock pay / revenue 0.3% 0.6% 1.2% −0.2% 1.1% 0.4% 0.8%
Change in share count 1.1% −1.0% 2.0% −0.6% 0.7% −0.8% −0.6%

Median of all 10 companies we cover in footwear. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

10 footwear companies
Measure Company Peer median Rank
Revenue growth Growth 9.2% 7.3% 4 of 10
Change in growth rate Growth +1.0pp +2.4pp 6 of 10
Gross margin Profitability 42.2% 49.1% 9 of 10
Operating margin Profitability 8.8% 12.5% 6 of 10
Net margin Profitability 5.7% 6.8% 6 of 10
Free-cash-flow margin Cash generation 3.3% 9.5% 8 of 10
Stock pay as % of revenue Cash generation 0.3% 0.8% 2 of 9
Long-term debt as % of assets Balance sheet 23.3% 23.3% 3 of 5
Change in share count Balance sheet 1.1% -0.6% 7 of 9
Days sales outstanding Balance sheet 56 days 43 days 8 of 8

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Wholesale $317M 65.7% ▲ 1.0%
Retail1 $153M 31.7% ▲ 20.5%
Contract Manufacturing $12.5M 2.6% ▼ 7.7%
Products and services
Line of business Revenue Share YoY
Work Footwear $194M 40.2% ▲ 1.7%
Outdoor Footwear $166M 34.4% ▲ 27.2%
Western Footwear $76.4M 15.8% ▼ 7.6%
Duty and Commercial Military Footwear $30.7M 6.4% ▼ 11.1%
Military Footwear $10M 2.1% ▼ 11.1%
Other $5.5M 1.1% ▲ 16.1%

From Rocky Brands, Inc.'s 10-K filed March 11, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$249M
Institutions reporting
117
Shares held vs prior quarter
▲ 4.4%
Positions opened / closed
12 / 14

Top buyers and sellers, Q2 2026: 54 institutions bought and 52 sold ; the biggest buyer was Alliancebernstein L.P (+109K shares) and the biggest seller Hillsdale Investment Management Inc (−159K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Alliancebernstein L.P. $25.1M 647K 10.1% ▲ 20.2%
Blackrock, Inc. $21.6M 523K 8.7% ▲ 6.0%
Dimensional Fund Advisors LP $21.2M 514K 8.5% ▲ 1.7%
Raymond James Financial Inc $21M 510K 8.5% ▲ 4.7%
Vanguard Capital Management LLC $13.2M 320K 5.3% 0.0%
American Century Companies Inc $9.7M 235K 3.9% ▼ 9.2%
Geode Capital Management, LLC $7.9M 192K 3.2% ▲ 11.5%
Aristides Capital LLC $7.7M 186K 3.1% ▲ 64.9%
Russell Investments Group, Ltd. $6.6M 160K 2.6% ▲ 29.7%
Crawford Investment Counsel Inc $6.5M 158K 2.6% ▲ 0.5%
North Star Investment Management Corp. $6.4M 154K 2.6% 0.0%
State Street Corp $6.2M 151K 2.5% ▲ 3.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Rocky Brands, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 5 trades and filings

No trades in Rocky Brands, Inc. disclosed in the last 12 months; 5 earlier trades on record.

  • Harley E. Rouda Jr.(CA):Sale (full), $100,001 - $250,000, traded September 10, 2019, filed August 13, 2020
  • Harley E. Rouda Jr.(CA):Sale (full), $100,001 - $250,000, traded April 5, 2019, filed August 13, 2020
  • Harley E. Rouda Jr.(CA):Sale (full), $250,001 - $500,000, traded March 5, 2019, filed April 2, 2019

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 26, 2027 estimated from the company's past filing pattern, not announced

  • October 27, 2026
  • July 28, 2026
  • April 28, 2026
  • February 24, 2026
  • October 28, 2025
  • July 29, 2025

Recent SEC filings

Data status

When each part of this page on Rocky Brands, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Rocky Brands, Inc. in brief

What does Rocky Brands, Inc. do?
Rocky Brands, Inc. is a US-listed company in the footwear industry. Its financial year ends in December.
What is Rocky Brands, Inc.'s stock ticker?
Rocky Brands, Inc. trades under the ticker RCKY on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Rocky Brands, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Rocky Brands, Inc. reported revenue of $505M, 9.2% higher than a year earlier, according to its SEC filings.
What is Rocky Brands, Inc.'s free cash flow?
Rocky Brands, Inc.'s free-cash-flow margin is 3.3% of revenue over the trailing twelve months, ranking 8 of the 10 footwear companies we cover.
What is Rocky Brands, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Rocky Brands, Inc.'s free cash flow after stock-based pay gives ~$88 per share in the base case, and ~$62–$120 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Rocky Brands, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Alliancebernstein L.P., Blackrock, Inc. and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Rocky Brands, Inc. buying back stock, and does it pay a dividend?
Rocky Brands, Inc. spent $2M on share repurchases over the trailing twelve months, and its diluted share count still rose 1.1% over the year.
What is Rocky Brands, Inc.'s market cap?
On November 2, 2026, Rocky Brands, Inc.'s market capitalisation was about $389M, with a price-to-earnings ratio of 13.5 and net debt of $121M. Market figures come from third-party market data and may be delayed.
Does Rocky Brands, Inc. pay a dividend?
Yes: Rocky Brands, Inc. paid $4.8M in dividends over the trailing twelve months, a dividend yield of 1.24% and a payout ratio of 16.5%.
How much debt does Rocky Brands, Inc. have?
Rocky Brands, Inc.'s debt-to-equity ratio is 46.4%, from its latest balance sheet (134.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are Rocky Brands, Inc.'s competitors?
In our Footwear peer group, the companies closest to Rocky Brands, Inc. are Weyco Group Inc, Wolverine World Wide Inc, Birkenstock Holding plc, Steven Madden, LTD. and Caleres Inc. The side-by-side comparison below sets their revenue, margins and growth against Rocky Brands, Inc.'s.
When is Rocky Brands, Inc.'s next earnings date?
Around January 26, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Rocky Brands, Inc. announces its own schedule.