Rocky Brands (RCKY) AI Stock Analysis

• Market Cap: $187.13M
• Dividend Yield: 2.47%
• Average Volume (3M): 60.64K
• Price to Earnings (P/E): 10.1
• Beta (1Y): 1.83
• Revenue Growth: -0.09%
• EPS Growth: 24.18%
• Country: US
• Employees: 2,530
• Sector: Consumer Cyclical
• Sector Strength: 60
• Industry: Apparel - Footwear & Accessories
• EPS (TTM): 0.55
• Shares Outstanding: 7,461,167
• 10 Day Avg. Volume: 72,453
• 30 Day Avg. Volume: 60,638
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.59
• Enterprise Value/Revenue: 0.66
• Enterprise Value/Gross Profit: 1.64
• Enterprise Value/Ebitda: 7.11
• 1Y Price Target: $30.00
• Price Target Upside: 11.03% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 75 Outperform
• Price Target: $30.00 ▲(11.03% Upside)

Rocky Brands' strong earnings call performance and positive technical indicators are key strengths. Financial stability and undervaluation also support a favorable outlook, despite challenges in revenue growth and tariff pressures.

Rocky Brands Business Overview & Revenue Model

Company Description

Rocky Brands, Inc. designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, Muck, XTRATUF, Servus, NEOS, Ranger, and licensed Michelin brand names in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers. The Retail segment sells its products directly to consumers through its e-commerce websites, including rockyboots.com, georgiaboot.com, durangoboot.com, lehighoutfitters.com, lehighsafetyshoes.com, slipgrips.com,muckbootcompany.com,xtratuf.com, and Rocky outlet store in Nelsonville, Ohio, and retail stores. The Contract Manufacturing segment include private label sales and any sales to customers which are contracted to manufacture a specific footwear product for a customer and include sales to the U.S. Military. It serves industrial and construction workers, as well as workers in the hospitality industry, such as restaurants or hotels; farmers and ranchers; consumers enamored with western influenced fashion; commercial military personnel; hunting, fishing, camping, and hiking enthusiasts; law enforcement, security personnel, and postal employees; and for the U.S. military personnel. Rocky Brands, Inc. was founded in 1932 and is headquartered in Nelsonville, Ohio.

How the Company Makes Money

Rocky Brands generates revenue primarily through the sale of its footwear and apparel products. The company sells directly to consumers via its e-commerce platforms and retail stores, as well as through wholesale channels to various retailers. Key revenue streams include sales from its core brands, such as Rocky, Georgia Boot, and Durango, which appeal to different market segments like outdoor enthusiasts, industrial workers, and fashion-conscious consumers. Additionally, Rocky Brands benefits from strategic partnerships and licensing agreements that expand its market reach and brand recognition. The company's earnings are also supported by its focus on product innovation, quality, and customer service, which drive repeat business and customer loyalty.

Rocky Brands Financial Statement Overview

Summary

Rocky Brands demonstrates reasonable financial health with stable profitability and operational efficiency. While cash flow generation remains strong, revenue growth has faced challenges.

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	454.94M	453.77M	461.83M	615.48M	514.23M	277.31M
Gross Profit	181.87M	179.01M	178.60M	225.22M	194.54M	104.73M
EBITDA	41.92M	41.32M	46.31M	38.09M	62.71M	32.41M
Net Income	13.78M	11.39M	10.43M	20.46M	20.56M	20.96M
Balance Sheet
Total Assets	468.22M	457.30M	479.38M	582.39M	624.58M	229.09M
Cash, Cash Equivalents and Short-Term Investments	2.56M	3.72M	4.47M	5.72M	5.91M	28.35M
Total Debt	131.47M	135.05M	181.27M	265.11M	278.85M	1.57M
Total Liabilities	232.01M	225.08M	255.83M	366.92M	426.72M	49.59M
Stockholders Equity	236.21M	232.22M	223.56M	215.47M	197.85M	179.50M
Cash Flow
Free Cash Flow	31.51M	48.10M	69.66M	12.42M	-75.93M	19.73M
Operating Cash Flow	36.59M	52.76M	73.58M	19.12M	-54.88M	31.44M
Investing Cash Flow	-3.39M	-2.96M	13.38M	-1.23M	-233.46M	-11.71M
Financing Cash Flow	-33.70M	-50.55M	-88.21M	-18.08M	265.89M	-6.89M

Rocky Brands Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 27.02
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 27.02 is above the 20-day moving average (MA) of 24.09, above the 50-day MA of 23.03, and above the 200-day MA of 21.43, indicating a bullish trend. The MACD of 0.76 indicates Negative momentum. The RSI at 61.53 is Neutral, neither overbought nor oversold. The STOCH value of 37.52 is Neutral, 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
CROX	81 Outperform	$0.00	6.25	53.70%	―	2.09%	26.18%
RCKY	75 Outperform	$187.13M	10.09	8.05%	2.47%	-0.09%	24.18%
CAL	72 Outperform	$461.66M	5.79	13.67%	2.13%	-4.84%	-49.08%
SHOO	71 Outperform	$1.71B	18.50	11.09%	3.57%	7.67%	-48.10%
WWW	68 Neutral	$1.80B	24.99	25.29%	1.70%	-13.05%	―
WEYS	67 Neutral	$281.52M	10.99	10.36%	10.70%	-5.46%	-1.09%
Sector *	61 Neutral	$16.48B	10.03	-9.00%	3.34%	1.42%	-22.40%

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.

The most recent analyst rating on (RCKY) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on Rocky Brands stock, see the RCKY Stock Forecast page.