Rocky Brands (RCKY) AI Stock Analysis

• Market Cap: $208.89M
• Dividend Yield: 2.18%
• Average Volume (3M): 41.94K
• Price to Earnings (P/E): 11.3
• Beta (1Y): 1.76
• Revenue Growth: -0.09%
• EPS Growth: 24.18%
• Country: US
• Employees: 2,530
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Footwear & Accessories
• EPS (TTM): 0.55
• Shares Outstanding: 7,468,341
• 10 Day Avg. Volume: 35,549
• 30 Day Avg. Volume: 41,941
• PEG Ratio: 1.92
• Price to Book (P/B): 0.73
• Price to Sales (P/S): 0.37
• P/FCF Ratio: 3.53
• Enterprise Value/Market Cap: 1.43
• Enterprise Value/Revenue: 0.64
• Enterprise Value/Gross Profit: 1.59
• Enterprise Value/Ebitda: 6.72
• 1Y Price Target: $37.00
• Price Target Upside: 32.43% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 71 Outperform
• Price Target: $31.00 ▲(10.95% Upside)

Rocky Brands receives a solid score driven by strong earnings performance and strategic improvements in profitability and debt management. While technical indicators suggest some short-term caution, the company's valuation remains attractive, and the positive outlook from the earnings call supports future growth prospects.

Rocky Brands Business Overview & Revenue Model

Company Description

Rocky Brands, Inc. (RCKY) is a leading manufacturer and marketer of premium footwear, apparel, and accessories, primarily catering to outdoor enthusiasts, industrial workers, and the military. Founded in 1932, the company operates through multiple segments, including Rocky, Georgia Boot, Durango, and others, offering a diverse range of high-quality products such as work boots, outdoor shoes, and tactical gear. With a strong focus on innovation, comfort, and durability, Rocky Brands has established a solid reputation in the marketplace.

How the Company Makes Money

Rocky Brands generates revenue primarily through the sale of its footwear and apparel products across various distribution channels, including wholesale, retail, and e-commerce. Key revenue streams include direct sales to consumers via their websites and retail outlets, as well as partnerships with major retailers and distributors. The company benefits from a diverse product lineup that caters to different market segments, which helps mitigate risks associated with market fluctuations. Additionally, Rocky Brands engages in strategic collaborations and licensing agreements that can enhance brand visibility and expand its market reach, contributing to its overall earnings.

Rocky Brands Financial Statement Overview

Summary

Rocky Brands demonstrates reasonable financial health with stable profitability and operational efficiency. The company maintains a balanced capital structure, though revenue growth has faced challenges. Cash flow generation remains strong, providing a solid foundation for future investments and debt servicing.

Income Statement

Rocky Brands shows moderate profitability with a gross profit margin of 39.98% and a net profit margin of 3.03% in the TTM (Trailing-Twelve-Months). The revenue growth is slightly negative, indicating a decline from previous years. EBIT and EBITDA margins are fairly stable, indicating operational efficiency despite reduced revenue.

Balance Sheet

The balance sheet presents a moderately leveraged structure with a debt-to-equity ratio of 0.56 in the TTM, which is a manageable level. Return on Equity is relatively low at 5.83%, suggesting room for improvement in generating returns for shareholders. The equity ratio stands at 50.45%, indicating a balanced approach between equity and liabilities.

Cash Flow

Cash flow analysis shows a positive trend with a 35.6% growth in free cash flow in the TTM. The operating cash flow to net income ratio is favorable, indicating strong cash generation relative to net income. Free cash flow to net income ratio is robust, which supports the company's ability to fund operations and investments.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	462.33M	453.77M	461.83M	615.48M	514.23M	277.31M
Gross Profit	187.11M	179.01M	178.60M	225.22M	194.54M	104.73M
EBITDA	44.38M	41.32M	46.31M	56.36M	36.71M	32.41M
Net Income	18.63M	11.39M	10.43M	20.46M	20.56M	20.96M
Balance Sheet
Total Assets	471.02M	457.30M	479.38M	582.39M	624.58M	229.09M
Cash, Cash Equivalents and Short-Term Investments	2.78M	3.72M	4.47M	5.72M	5.91M	28.35M
Total Debt	134.68M	135.05M	181.27M	268.18M	278.85M	1.57M
Total Liabilities	231.96M	225.08M	255.83M	366.92M	426.72M	49.59M
Stockholders Equity	239.06M	232.22M	223.56M	215.47M	197.85M	179.50M
Cash Flow
Free Cash Flow	24.53M	48.10M	69.66M	12.42M	-75.93M	19.73M
Operating Cash Flow	30.93M	52.76M	73.58M	19.12M	-54.88M	31.44M
Investing Cash Flow	-6.41M	-2.96M	13.38M	-1.23M	-233.46M	-11.71M
Financing Cash Flow	-25.85M	-50.55M	-88.21M	-18.08M	265.89M	-6.89M

Rocky Brands Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 27.94
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RCKY, the sentiment is Positive. The current price of 27.94 is below the 20-day moving average (MA) of 29.48, below the 50-day MA of 28.40, and above the 200-day MA of 22.62, indicating a neutral trend. The MACD of 0.18 indicates Positive momentum. The RSI at 45.47 is Neutral, neither overbought nor oversold. The STOCH value of 9.49 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RCKY.

Rocky Brands Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SHOO	74 Outperform	$2.41B	26.14	11.09%	2.47%	7.80%	-48.10%
RCKY	71 Outperform	$208.89M	11.25	8.05%	2.18%	-0.09%	24.18%
WWW	69 Neutral	$2.04B	24.23	27.52%	1.55%	-2.83%	―
CROX	68 Neutral	$4.30B	21.78	15.39%	―	2.04%	-71.52%
WEYS	64 Neutral	$275.88M	10.78	10.36%	10.58%	-6.39%	-14.72%
CAL	63 Neutral	$458.91M	7.78	9.50%	2.11%	-5.31%	-62.20%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Rocky Brands Corporate Events

Rocky Brands Holds Annual Shareholders Meeting

On June 3, 2025, Rocky Brands, Inc. held its Annual Meeting of Shareholders where several key decisions were made. The shareholders elected directors to serve until the 2027 meeting, approved the compensation of the company’s executive officers on an advisory basis, and ratified Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.