Tearsheet

Rocky Brands (RCKY)

Market Price (12/23/2025): $29.96 | Market Cap: $224.0 Mil
Sector: Consumer Discretionary | Industry: Footwear

Rocky Brands (RCKY)

Market Price (12/23/2025): $29.96
Market Cap: $224.0 Mil
Sector: Consumer Discretionary
Industry: Footwear

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1%, FCF Yield is 7.1%	Trading close to highs Dist 52W High is -4.1%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 62%
1	Megatrend and thematic drivers Megatrends include E-commerce & DTC Adoption, and E-commerce & Digital Retail. Themes include Direct-to-Consumer Brands (Staples), Online Marketplaces, Show more.	Weak multi-year price returns 2Y Excs Rtn is -34%, 3Y Excs Rtn is -40%	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -9.1%
2			Key risks RCKY key risks include [1] managing excess inventory within its wholesale segment and [2] revenue volatility from its dependence on the wholesale channel.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1%, FCF Yield is 7.1%
1	Megatrend and thematic drivers Megatrends include E-commerce & DTC Adoption, and E-commerce & Digital Retail. Themes include Direct-to-Consumer Brands (Staples), Online Marketplaces, Show more.
2	Trading close to highs Dist 52W High is -4.1%
3	Weak multi-year price returns 2Y Excs Rtn is -34%, 3Y Excs Rtn is -40%
4	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 62%
5	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -9.1%
6	Key risks RCKY key risks include [1] managing excess inventory within its wholesale segment and [2] revenue volatility from its dependence on the wholesale channel.

Valuation, Metrics & Events

	12/23/25	2024	2023	2022	2021
Share Price CYE	$29.96	$22.24	$28.80	$21.93	$36.23
Market Cap CYE ($ Mil)	224.0	165.8	212.8	160.7	261.6
Total Debt ($ Mil)	141.2	135.0	181.3	265.1	278.9
Total Cash ($ Mil)	3.3	3.7	4.5	5.7	5.9
Enterprise Value ($ Mil)	361.9	300.8	394.1	425.8	540.5
Valuation Ratios
P/S TTM	0.5	0.4	0.5	0.3	0.6
P/EBIT TTM	6.2	5.5	6.3	3.9	8.1
P/E TTM	10.9	14.9	21.3	8.4	14.1
P/FCF TTM	14.1	3.5	3.2	13.9	-3.8
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9	0.9	1.4
P/EBIT TTM (Sector)	7.7	8.3	7.7	6.5	8.2
P/E TTM (Sector)	10.3	11.1	10.3	8.4	10.6
P/FCF TTM (Sector)	11.3	12.4	9.5	7.3	10.4

	12/23/25	2024	2023
Share Price CYE	$29.96	$22.24	$28.80
Market Cap CYE ($ Mil)	224.0	165.8	212.8
Total Debt ($ Mil)	141.2	135.0	181.3
Total Cash ($ Mil)	3.3	3.7	4.5
Enterprise Value ($ Mil)	361.9	300.8	394.1
Valuation Ratios
P/S TTM	0.5	0.4	0.5
P/EBIT TTM	6.2	5.5	6.3
P/E TTM	10.9	14.9	21.3
P/FCF TTM	14.1	3.5	3.2
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9
P/EBIT TTM (Sector)	7.7	8.3	7.7
P/E TTM (Sector)	10.3	11.1	10.3
P/FCF TTM (Sector)	11.3	12.4	9.5

	RCKY	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	0.5
Rev Chg Q	7.0%	7.3%
Rev Chg LTM	4.1%	6.1%
Rev Chg 3Y Avg	-9.1%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.0
CFO LTM ($ Bil)	0.0
Net Inc LTM ($ Bil)	0.0
Op Mgn LTM	7.7%	18.8%
CFO/Rev LTM	4.9%	20.4%
Net Inc Mgn	4.4%	13.1%
VALUATION	LOW
P/S	0.5	3.2
P/CFO	9.7	15.7
P/FCF	14.1	20.7
P/E	10.9	23.5
STABILITY	POOR
Debt/Equity	0.63	0.21
Cash/Assets	0.01	0.07

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Metric	Value	Date	Source
Wholesale Sales	89.1 million USD	9302025	Link
Retail Sales	29.5 million USD	9302025	Link
Contract Manufacturing Sales	3.9 million USD	9302025	Link
Number of Employees	2800	11082025	Link
Number of Retail Locations	Over 10,000	11042025	Link
Wholesale Sales Percentage of Total Sales	~70%	1212025	Link
Retail Sales Percentage of Total Sales	~27%	1212025	Link
Contract Manufacturing Sales Percentage of Total Sales	~3%	1212025	Link
Work Category Sales Percentage of Total Sales	~45%	1212025	Link
Outdoor Category Sales Percentage of Total Sales	~30%	1212025	Link
Western Category Sales Percentage of Total Sales	~15%	1212025	Link
Service Category Sales Percentage of Total Sales	~8%	1212025	Link
Apparel Category Sales Percentage of Total Sales	~2%	1212025	Link

Upcoming
2/23/2026	Earnings Release	Rev: - EPS: -

RCKY Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are five key points explaining recent movements for Rocky Brands (RCKY) around the approximate time period: 1. 1. Stock price decline on December 19, 2025, and consecutive falls: The Rocky Brands stock price experienced a fall of -2.74% on Friday, December 19, 2025, closing at $29.87 from $30.71. This marked its fifth consecutive day of decline. 2. 2. Negative evaluation and downgrade to a Sell candidate: Rocky Brands received a negative evaluation, leading to a downgrade in its analysis conclusion from a "Buy" to a "Sell" candidate. 3. Show more

Stock Movement Drivers

Fundamental Drivers

The 2.3% change in RCKY stock from 9/22/2025 to 12/22/2025 was primarily driven by a 8.5% change in the company's Net Income Margin (%).

	9222025	12222025	Change
Stock Price ($)	29.28	29.95	2.29%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	462.33	470.31	1.73%
Net Income Margin (%)	4.03%	4.37%	8.50%
P/E Multiple	11.73	10.89	-7.15%
Shares Outstanding (Mil)	7.46	7.47	-0.19%
Cumulative Contribution			2.29%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025

	Return	Correlation
RCKY	2.3%
Market (SPY)	2.7%	37.8%
Sector (XLY)	1.9%	43.9%

Fundamental Drivers

The 39.0% change in RCKY stock from 6/23/2025 to 12/22/2025 was primarily driven by a 44.4% change in the company's Net Income Margin (%).

	6232025	12222025	Change
Stock Price ($)	21.55	29.95	38.99%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	454.94	470.31	3.38%
Net Income Margin (%)	3.03%	4.37%	44.36%
P/E Multiple	11.67	10.89	-6.67%
Shares Outstanding (Mil)	7.46	7.47	-0.21%
Cumulative Contribution			38.99%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025

	Return	Correlation
RCKY	39.0%
Market (SPY)	14.4%	31.9%
Sector (XLY)	14.3%	36.2%

Fundamental Drivers

The 34.4% change in RCKY stock from 12/22/2024 to 12/22/2025 was primarily driven by a 48.5% change in the company's Net Income Margin (%).

	12222024	12222025	Change
Stock Price ($)	22.28	29.95	34.41%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	451.67	470.31	4.13%
Net Income Margin (%)	2.94%	4.37%	48.48%
P/E Multiple	12.48	10.89	-12.76%
Shares Outstanding (Mil)	7.45	7.47	-0.35%
Cumulative Contribution			34.41%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025

	Return	Correlation
RCKY	34.4%
Market (SPY)	16.9%	30.7%
Sector (XLY)	7.8%	31.1%

Fundamental Drivers

The 34.2% change in RCKY stock from 12/23/2022 to 12/22/2025 was primarily driven by a 76.6% change in the company's P/E Multiple.

	12232022	12222025	Change
Stock Price ($)	22.31	29.95	34.22%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	646.00	470.31	-27.20%
Net Income Margin (%)	4.10%	4.37%	6.59%
P/E Multiple	6.16	10.89	76.64%
Shares Outstanding (Mil)	7.32	7.47	-2.13%
Cumulative Contribution			34.15%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2023 to 12/22/2025

	Return	Correlation
RCKY	4.4%
Market (SPY)	47.7%	30.7%
Sector (XLY)	38.4%	31.0%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
RCKY Return	-2%	44%	-39%	31%	-23%	34%	16%
Peers Return	7%	41%	-34%	8%	72%	-17%	53%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	113%
Monthly Win Rates [3]
RCKY Win Rate	50%	50%	25%	42%	33%	50%
Peers Win Rate	63%	63%	28%	55%	60%	42%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
RCKY Max Drawdown	-49%	0%	-53%	-47%	-32%	-46%
Peers Max Drawdown	-56%	-8%	-51%	-21%	-13%	-50%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: WWW, BOOT, DECK, VFC, COLM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

Unique Key	Event	RCKY	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-81.2%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	433.3%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-49.2%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	96.7%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	236 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-29.2%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	41.2%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	228 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-86.9%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	664.5%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1,764 days	1,480 days

Compare to WWW, WEYS, FOSL, FWDI, ONON

In The Past

Rocky Brands's stock fell -81.2% during the 2022 Inflation Shock from a high on 5/7/2021. A -81.2% loss requires a 433.3% gain to breakeven.

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About Rocky Brands (RCKY)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

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.

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Rocky Brands (RCKY) can be described as:

A smaller VF Corporation (VFC) focused on a portfolio of work, outdoor, and western footwear and apparel brands.
Similar to Wolverine World Wide (WWW), curating a portfolio of footwear and apparel brands concentrated in work, outdoor, and western markets.

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Work Footwear: Boots and shoes engineered for professional use, emphasizing safety, durability, and comfort.
Outdoor Footwear: Performance footwear designed for hunting, hiking, and various recreational outdoor activities.
Western Footwear: Authentic cowboy boots and western-inspired footwear known for style and craftsmanship.
Waterproof Rubber Footwear: Durable, waterproof, and often insulated boots for demanding outdoor and work environments.
Work & Outdoor Apparel: Garments and accessories providing protection, comfort, and functionality for work and outdoor pursuits.

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Rocky Brands (RCKY) primarily sells its products to other companies through its wholesale channel, which consistently accounts for the largest portion of its net sales (over 75% in recent fiscal years).

The company maintains a diversified customer base within its wholesale operations. According to its annual reports (10-K filings), no single customer accounted for 10% or more of its net sales for the most recent fiscal years. Therefore, specific individual major customer company names are not disclosed by Rocky Brands.

Its major customers in the wholesale channel are categorized as follows:

National and regional retailers
Farm and fleet stores
Sporting goods stores
Independent footwear dealers
Industrial and workwear channels
Online retailers

In addition to its primary wholesale business, Rocky Brands also generates a significant portion of its revenue through its direct-to-consumer channel, selling directly to individuals via its branded e-commerce websites and catalogs.

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Jason S. Brooks, Chairman and Chief Executive Officer

Jason S. Brooks has served as Chairman of Rocky Brands since May 2021 and as President and Chief Executive Officer since May 2017. He is the fourth generation of the Brooks family to lead the company, which was founded by his great-granduncles in 1932. Mr. Brooks began his career with Rocky Brands in 1997 as an independent sales representative and has held various leadership roles within the company, including President, Core Brands, President, U.S. Wholesale Sales, and Senior Vice President, U.S. Wholesale.

Thomas D. Robertson, Chief Operating Officer and Chief Financial Officer

Thomas D. Robertson has served as Chief Financial Officer of Rocky Brands since September 2023 and Chief Operating Officer since November 2022. He previously served as Executive Vice President, Chief Financial Officer and Treasurer from May 2018 to February 2023. Mr. Robertson joined the company in October 2016 as a Senior Financial Analyst. Prior to his tenure at Rocky Brands, he was an audit manager with Deloitte & Touche LLP from 2015 to 2016 and held various audit positions with Schneider Downs & Co., Inc. from 2008 to 2015, where he primarily worked with publicly-traded footwear companies.

Byron Wortham, Senior Vice President of Georgia Boot and Durango Brands

Byron Wortham has served as the Senior Vice President of Georgia Boot and Durango Brands since February 2023. Before this role, he was President, Core Brands since June 2017, and prior to that, Vice President, Brand General Manager of Durango since December 2015. Mr. Wortham began his career with Rocky Brands in January 2003 as a Sales Representative and has held several sales and management positions within the company.

Richard D. Simms, Executive Vice President, Operations

Richard D. Simms is listed as the Executive Vice President of Operations for Rocky Brands as of late 2024.

Jeremy Siegfried, Secretary

Jeremy Siegfried serves as the Secretary for Rocky Brands.

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The key risks to Rocky Brands' business include supply chain disruptions and cost volatility, sensitivity to economic conditions and shifts in consumer preferences, and challenges related to inventory management and wholesale channel dependence.

Supply Chain Disruptions and Cost Volatility: Rocky Brands faces substantial supply chain risks, including increases in raw material costs, fluctuating leather prices, and rising manufacturing input costs. Additionally, the company is exposed to upcoming challenges from tariffs and price increases, which can affect future demand and profit margins.
Sensitivity to Economic Conditions and Shifts in Consumer Preferences: The company's performance is susceptible to broader economic uncertainties that influence consumer spending. Furthermore, Rocky Brands must adapt to evolving consumer preferences, such as the increasing demand for sustainable and performance-driven footwear and the growth of online shoe sales. A failure to anticipate or react to these changes could adversely affect sales and brand image.
Inventory Management and Wholesale Channel Dependence: Rocky Brands has experienced issues with "inventory cyclicality" and "excess inventory in the Wholesale segment," which have contributed to volatile revenue and financial instability. The "bullwhip effect" within the footwear wholesale industry also presents a risk, as retailers' ordering patterns can lead to mismatches between the company's supply and market demand.

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Rocky Brands, Inc. (RCKY) operates primarily in the footwear and apparel industry, offering a diverse portfolio of products across several key markets. The main product categories include outdoor footwear, work footwear, western footwear, duty/military/tactical footwear, and complementary apparel and accessories.

Here are the estimated addressable market sizes for Rocky Brands' main product categories:

Outdoor Footwear: The global outdoor footwear market was valued at approximately USD 51.2 billion in 2025 and is projected to reach USD 101.7 billion by 2035, growing at a CAGR of 7.1% during the forecast period. Another source indicates a global market size of USD 21.01 billion in 2024, projected to reach USD 33.74 billion by 2031 at a CAGR of 7.1%. The North American outdoor footwear market is identified as the largest growing region.
Work Footwear: The U.S. work boot market was valued at USD 24.01 billion in 2024 and is expected to reach USD 36.21 billion by 2032, growing at a CAGR of 5.26%. North America dominates the global work boots market, holding over 35% market share in 2025 and 43.9% in 2024, valued at USD 6.4 billion. The global work boots market size was estimated at US$ 17.7 billion in 2025 and is expected to reach US$ 23.14 billion by 2032, with a CAGR of 3.9%. More broadly, the global work shoe market (including boots) is projected to grow from USD 23.37 billion in 2024 to USD 35.87 billion by 2035, at a CAGR of 3.97%.
Western Footwear (Cowboy Boots): The global cowboy boots market is projected at USD 291.3 million in 2025 and is expected to reach USD 533.43 million by 2034. The U.S. market for cowboy boots is projected at USD 95.3 million in 2025. Another estimate states the global cowboy boots market size as USD 0.29 billion in 2025, expected to reach USD 0.54 billion by 2034 with a CAGR of 7.02%. North America is projected to dominate this market due to the deep-rooted cultural significance of cowboy boots in the region.
Duty/Military/Tactical Footwear: The global tactical footwear market was valued at USD 1.88 billion in 2024 and is expected to expand at a CAGR of 10.1% from 2025 to 2030. Another report states the global tactical footwear market was valued at USD 2.1 billion in 2024 and is expected to reach USD 5.6 billion by 2034, growing at a CAGR of 10.3%. North America held the largest revenue share in the tactical footwear market in 2024 (38.7% or 40.2%), driven by demand from law enforcement and military personnel.
Apparel and Accessories: Rocky Brands markets complementary branded apparel and accessories. The U.S. apparel market is valued at $365.70 billion in 2025. The global apparel market is valued at $1.84 trillion in 2025.

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Expected Drivers of Future Revenue Growth for Rocky Brands (RCKY)

Rocky Brands (RCKY) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies:

Strong Performance and Demand for Key Brands: The company expects continued robust demand for its leading brands, particularly Durango and XTRATUF, which have demonstrated double-digit growth in the U.S. market and through e-commerce channels. This brand momentum, alongside positive responses to new product lines, is expected to fuel future sales. Muck boots have also shown double-digit growth in U.S. wholesale.
Retail Segment Expansion and E-commerce Growth: Rocky Brands' retail segment, especially its direct-to-consumer e-commerce business and the Lehigh CustomFit Platform, is a significant driver of growth. The company has seen its highest-ever sales quarter for its Retail reporting segment, indicating strong consumer demand in this channel. Management noted a 20% top-line growth in the retail segment in Q1 2025.
Strategic Sourcing and Manufacturing Capacity Expansion: To mitigate tariff impacts and capitalize on demand, Rocky Brands is rapidly diversifying its sourcing base, including new Asian manufacturing partners outside China and Vietnam, and increasing production at its facilities in the Dominican Republic and Puerto Rico. These actions are expected to support higher inventory levels for popular brands and ensure the company is well-positioned for future sales opportunities.
Price Increases: Rocky Brands plans to implement price increases on most footwear styles to offset the impact of higher tariffs. While this may lead to some demand pressure, the company is confident in its brand strength to navigate these changes. Price increases have already contributed to gross margin improvement.
Growth in Wholesale Bookings and Improved Industry Conditions: Despite past challenges in wholesale due to over-inventory and conservative purchasing, Rocky Brands has reported stronger wholesale orders for upcoming seasons. An anticipated improvement in overall boot sales and gradually improving consumer sentiment are expected to aid a sales growth recovery in the wholesale segment. The company expects recurring wholesale sales to return to growth.

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Share Repurchases

On March 8, 2021, Rocky Brands' board of directors approved a new share repurchase program of up to $7,500,000 of its outstanding common stock, replacing a prior program that expired in February 2021.
A new share repurchase program of up to $7,500,000 was also announced on February 25, 2025.
Actual share repurchases included $200.86K as of March 31, 2025, and $933.47K as of December 31, 2020.

Share Issuance

Shares outstanding were 7,451,996 as of March 31, 2025, a slight decrease from 7,454,465 as of December 31, 2024, but an increase from 7,417,546 as of March 31, 2024.
An insider exercised stock options for 2,400 shares and subsequently sold 6,600 shares on November 5, 2025.

Outbound Investments

In January 2021, Rocky Brands announced a definitive agreement to acquire the performance and lifestyle footwear business of Honeywell International, Inc., for a purchase price of $230 million.
This acquisition, which included The Original Muck Boot Company and XTRATUF footwear brands, was completed on March 15, 2021.
The acquisition was funded through an $80-million senior secured asset-backed credit facility, a $130 million senior secured term loan facility, and cash on hand.

Capital Expenditures

Capital expenditures for Rocky Brands were -$7.20 million in the last 12 months as of October 2025.

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HD (8.4%)

Home Depot

TJX (7.5%)

TJX Companies

TSLA (7.1%)

Tesla

Higher Total Yield (Value for RCKY: 11.3%)

BYD (26.9%)

Boyd Gaming

LKQ (13.1%)

LKQ

F (12.1%)

Ford Motor

PHM (12.0%)

PulteGroup

LEN (11.7%)

Lennar

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for RCKY: -9.1% | 0.5x)

MCK (12.6% | 0.3x)

McKesson

CVS (7.7% | 0.3x)

CVS Health

ELV (8.4% | 0.4x)

Elevance Health

CI (13.6% | 0.3x)

Cigna

COR (10.4% | 0.2x)

Cencora

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for RCKY: -9.1% | 6.2x)

VZ (0.5% | 5.3x)

Verizon Communications

CMCSA (0.7% | 4.8x)

Comcast

FISV (6.8% | 6.1x)

Fiserv

FI (7.5% | 5.5x)

Fiserv

IBKR (48.1% | 3.5x)

Interactive Brokers

Higher Rev Chg LTM (Value for RCKY: 4.1%)

NVDA (65.2%)

NVIDIA

META (21.3%)

Meta Platforms

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AAPL (6.0%)

Apple

Higher Rev Chg 3Y Avg (Value for RCKY: -9.1%)

NVDA (91.6%)

NVIDIA

META (17.3%)

Meta Platforms

MSFT (13.2%)

Microsoft

GOOGL (11.0%)

Alphabet

AAPL (1.8%)

Apple

Higher Op Mgn LTM (Value for RCKY: 7.7%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

META (43.2%)

Meta Platforms

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

Higher CFO/Rev LTM (Value for RCKY: 4.9%)

META (56.8%)

Meta Platforms

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

Higher FCF/Rev LTM (Value for RCKY: 3.4%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for RCKY: 11.3%)

CMCSA (25.5%)

Comcast

VZ (18.5%)

Verizon Communications

PFE (13.6%)

Pfizer

TD (13.0%)

Toronto-Dominion Bank

T (12.8%)

AT&T

		Best Bets In Consumer Discretionary Sector
	RCKY	ABNB	BKNG	MCD	ETSY	LOPE	ALSN	GRMN	CROX	WH	YUM
What You Pay
P/E	10.9	31.8	34.7	26.8	30.4	22.1	12.1	25.2	21.0	17.6	29.8
P/EBIT	6.2	30.9	20.8	18.4	13.4	14.7	8.9	22.3	18.3	10.3	17.3
What You Get
Rev Chg Q	7.0%	9.7%	12.7%	3.0%	2.4%	9.6%	-15.9%	11.7%	3.4%	-3.5%	8.4%
Rev Chg LTM	4.1%	10.2%	13.0%	1.2%	2.0%	7.0%	-4.2%	16.6%	2.0%	3.4%	11.6%
Rev Chg 3Y Avg	-9.1%	14.2%	17.8%	4.2%	4.9%	6.5%	4.6%	12.2%	14.5%	-2.5%	6.4%
FCF/Rev 3Y Avg	10.0%	40.2%	35.6%	27.4%	23.8%	21.8%	21.0%	20.5%	19.8%	19.0%	18.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Rocky Brands Earnings Notes
2	How Low Can Rocky Brands Stock Really Go?	Return

	Title
0	ARTICLES

Trade Ideas

Select ideas related to RCKY. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	10.7%	10.7%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.9%	3.9%	-0.1%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.8%	3.8%	-4.4%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	19.9%	19.9%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	7.5%	7.5%	-1.6%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ADEA	Adeia	1.8	30.5%	21.0%
AAOI	Applied Optoelectronics	2.5	24.8%	6.1%
QBTS	D-Wave Quantum	11.0	20.0%	283.2%
ZBIO	Zenas BioPharma	1.8	17.1%	416.8%
UNF	UniFirst	3.6	16.1%	16.4%
FLY	Firefly Aerospace	4.0	16.0%
UAMY	United States Antimony	0.7	16.0%	215.8%
RZLT	Rezolute	0.2	15.8%	-58.2%
RCAT	Red Cat	0.8	14.5%	-28.2%
KURA	Kura Oncology	1.0	14.5%	29.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TPL	Texas Pacific Land	7.0	-66.3%	-72.5%
EWTX	Edgewise Therapeutics	2.2	-18.0%	-21.6%
DJT	Trump Media & Technology	4.0	-10.4%	-57.7%
AVO	Mission Produce	0.8	-9.7%	-17.0%
GTN-A	Gray Media	1.0	-8.0%	43.1%
ANGX	Angel Studios	0.8	-8.0%
DDS	Dillard's	9.6	-7.7%	48.3%
NKTR	Nektar Therapeutics	0.6	-7.2%	211.7%
MPLT	MapLight Therapeutics	0.8	-6.7%
TLRY	Tilray Brands	11.0	-6.6%	-21.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LUNR	Intuitive Machines	2.0	50.1%	-8.1%
FBYD	Falcons Beyond Global	0.7	46.4%	129.2%
TE	T1 Energy	1.1	44.3%
HUT	Hut 8	5.3	42.2%	145.9%
FLY	Firefly Aerospace	4.0	40.5%
RKLB	Rocket Lab	39.9	40.0%	204.5%
DJT	Trump Media & Technology	4.0	37.8%	-57.7%
QBTS	D-Wave Quantum	11.0	35.6%	283.2%
EEX	Emerald	0.9	34.2%	-0.1%
AAOI	Applied Optoelectronics	2.5	30.8%	6.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-79.5%	-26.1%
TPL	Texas Pacific Land	7.0	-63.9%	-72.5%
LW	Lamb Weston	6.0	-28.0%	-34.3%
OLMA	Olema Pharmaceuticals	2.4	-21.4%	383.4%
FDMT	4D Molecular Therapeutics	0.5	-20.5%	56.4%
NKTR	Nektar Therapeutics	0.6	-18.4%	211.7%
INSP	Inspire Medical Systems	2.9	-17.9%	-47.2%
PLAY	Dave & Buster's Entertainment	0.6	-17.9%	-45.0%
NKE	Nike	84.5	-15.6%	-22.6%
HPP	Hudson Pacific Properties	4.6	-14.9%	-51.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	168.4%
WVE	WAVE Life Sciences	2.9	166.0%	45.3%
LUNR	Intuitive Machines	2.0	107.3%	-8.1%
AAOI	Applied Optoelectronics	2.5	100.6%	6.1%
RKLB	Rocket Lab	39.9	96.4%	204.5%
VERA	Vera Therapeutics	3.4	93.0%	27.2%
ANF	Abercrombie & Fitch	5.9	83.9%	-16.6%
PL	Planet Labs PBC	6.3	83.4%	409.9%
ARWR	Arrowhead Pharmaceuticals	9.6	81.1%	267.0%
FTRE	Fortrea	1.6	76.2%	-5.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-78.8%	-58.2%
TPL	Texas Pacific Land	7.0	-65.7%	-72.5%
JANX	Janux Therapeutics	0.9	-50.7%	-73.7%
FRMI	Fermi	6.2	-42.4%
LENZ	LENZ Therapeutics	0.5	-36.4%	-39.0%
GOGO	Gogo	0.6	-30.3%	-41.9%
UP	Wheels Up Experience	0.4	-27.4%	-62.1%
ACLX	Arcellx	3.7	-27.2%	-15.0%
ORIC	ORIC Pharmaceuticals	0.7	-26.8%	4.1%
KOS	Kosmos Energy	0.5	-26.5%	-71.8%

Peer Comparisons for Rocky Brands

Peers to compare with:

Financials

	RCKY	WWW	BOOT	DECK	VFC	COLM	Median
Name	Rocky Br.	Wolverin.	Boot Barn	Deckers .	VF	Columbia.
Mkt Price	29.95	18.07	189.43	101.91	18.65	56.14	43.05
Mkt Cap	0.2	1.5	5.8	15.2	7.3	3.1	4.4
Rev LTM	470	1,852	2,071	5,125	9,541	3,424	2,748
Op Inc LTM	36	141	276	1,212	468	257	266
FCF LTM	16	54	56	880	240	169	113
FCF 3Y Avg	46	180	73	804	285	307	233
CFO LTM	23	76	214	968	375	234	224
CFO 3Y Avg	51	202	211	893	455	366	288

Growth & Margins

	RCKY	WWW	BOOT	DECK	VFC	COLM	Median
Name	Rocky Br.	Wolverin.	Boot Barn	Deckers .	VF	Columbia.
Rev Chg LTM	4.1%	3.6%	17.8%	15.5%	-0.1%	2.8%	3.9%
Rev Chg 3Y Avg	-9.1%	-10.6%	9.5%	16.3%	-6.7%	0.1%	-3.3%
Rev Chg Q	7.0%	6.8%	18.7%	16.9%	1.6%	1.3%	6.9%
QoQ Delta Rev Chg LTM	1.7%	1.7%	4.0%	2.8%	0.5%	0.3%	1.7%
Op Mgn LTM	7.7%	7.6%	13.3%	23.6%	4.9%	7.5%	7.7%
Op Mgn 3Y Avg	7.7%	3.4%	12.6%	21.3%	5.2%	8.8%	8.3%
QoQ Delta Op Mgn LTM	0.2%	0.6%	0.3%	-0.0%	0.4%	-0.5%	0.3%
CFO/Rev LTM	4.9%	4.1%	10.3%	18.9%	3.9%	6.8%	5.9%
CFO/Rev 3Y Avg	11.0%	9.8%	11.6%	20.2%	4.7%	10.7%	10.9%
FCF/Rev LTM	3.4%	2.9%	2.7%	17.2%	2.5%	5.0%	3.2%
FCF/Rev 3Y Avg	10.0%	8.7%	4.1%	18.1%	3.0%	9.0%	8.8%

Valuation

	RCKY	WWW	BOOT	DECK	VFC	COLM	Median
Name	Rocky Br.	Wolverin.	Boot Barn	Deckers .	VF	Columbia.
Mkt Cap	0.2	1.5	5.8	15.2	7.3	3.1	4.4
P/S	0.5	0.8	2.8	3.0	0.8	0.9	0.8
P/EBIT	6.2	10.3	20.7	11.9	18.3	11.9	11.9
P/E	10.9	16.6	27.8	15.4	80.6	16.4	16.5
P/CFO	9.7	19.4	27.1	15.7	19.5	13.1	17.5
Total Yield	11.3%	8.3%	3.6%	6.5%	3.2%	8.3%	7.4%
Dividend Yield	2.1%	2.2%	0.0%	0.0%	1.9%	2.2%	2.0%
FCF Yield 3Y Avg	28.9%	20.5%	2.6%	4.7%	4.1%	7.3%	6.0%
D/E	0.6	0.6	0.1	0.0	0.8	0.2	0.4
Net D/E	0.6	0.5	0.1	-0.1	0.7	0.1	0.3

Returns

	RCKY	WWW	BOOT	DECK	VFC	COLM	Median
Name	Rocky Br.	Wolverin.	Boot Barn	Deckers .	VF	Columbia.
1M Rtn	0.6%	13.6%	3.0%	19.7%	15.6%	5.2%	9.4%
3M Rtn	2.3%	-37.7%	7.9%	-10.0%	30.8%	6.5%	4.4%
6M Rtn	39.0%	5.2%	20.4%	1.5%	64.2%	-5.8%	12.8%
12M Rtn	34.4%	-20.0%	28.2%	-51.7%	-14.4%	-35.2%	-17.2%
3Y Rtn	34.2%	90.5%	207.0%	56.4%	-21.5%	-31.3%	45.3%
1M Excs Rtn	-2.4%	18.1%	4.3%	19.9%	22.9%	7.4%	12.8%
3M Excs Rtn	-1.2%	-40.8%	7.0%	-12.4%	23.1%	3.9%	1.3%
6M Excs Rtn	27.3%	-7.4%	9.9%	-13.2%	48.4%	-19.7%	1.3%
12M Excs Rtn	18.5%	-33.5%	13.0%	-66.6%	-31.4%	-51.8%	-32.4%
3Y Excs Rtn	-40.4%	7.6%	144.8%	-14.6%	-102.2%	-107.7%	-27.5%

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	3/17/2025	3/15/2024	3/10/2023	3/15/2022	3/16/2021	3/6/2020
Key Financials
Total Revenue	470	454	462	615	514	277	270
EBITDA	46	41	46	56	47	32	27
Operating Income	36	31	35	44	36	27	22
Net Income	21	11	10	20	21	21	17
EPS	2.74	1.53	1.42	2.80	2.82	2.87	2.36
Growth Rates
Total Revenue Growth	4.1%	-1.7%	-25.0%	19.7%	85.4%	2.6%	7.0%
EBITDA Growth	-4.0%	-10.8%	-17.8%	19.2%	45.9%	19.5%	15.7%
Operating Income Growth	-3.2%	-12.2%	-19.7%	22.4%	32.4%	23.0%	22.3%
Net Income Growth	54.6%	9.2%	-49.1%	-0.5%	-1.9%	20.1%	20.0%
Margins
EBITDA Margin	9.8%	9.1%	10.0%	9.2%	9.2%	11.7%	10.0%
Operating Income Margin	7.7%	6.8%	7.7%	7.2%	7.0%	9.8%	8.2%
Net Income Margin	4.4%	2.5%	2.3%	3.3%	4.0%	7.6%	6.5%
Cash & Debt
Total Cash	3	4	4	6	6	28	16
Total Debt	141	135	181	265	279	1	2
Net Debt / (Cash)	138	131	177	259	273	-27	-14
Cash Flows
Net Cash from Operations	23	53	74	19	-55	31	18
Free Cash from Operations	16	48	70	12	-76	20	10
Returns to Shareholders
Dividends	5	5	5	5	4	4	4
Share Repurchases	0	-0	-0	-0	-0	3	2

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/7/2025	5/8/2025	3/17/2025	11/12/2024	8/8/2024	5/9/2024	3/15/2024	11/8/2023	8/9/2023	5/10/2023	3/10/2023
Key Financials Quarterly
Total Revenue	123	106	114	128	115	98	113	126	126	100	110	139
Ebitda	14	10	11	11	13	7	10	17	17	5	7	17
Operating Income	12	7	9	9	10	5	8	15	14	2	4	14
Net Income	7	4	5	5	5	-1	3	7	7	-3	-0	7
EPS	0.96	0.48	0.66	0.64	0.71	-0.17	0.34	0.91	0.93	-0.37	-0.05	0.89
Key Financials TTM
Total Revenue TTM	470	462	455	454	452	463	464	462	475	497	559	615
Ebitda TTM	46	44	42	41	48	52	50	46	46	44	47	56
Operating Income TTM	36	34	32	31	37	42	39	35	34	32	35	44
Net Income TTM	21	19	14	11	13	15	13	10	10	9	13	20
Growth Rates Quarterly
Total Revenue Growth	7.0%	7.5%	1.0%	1.7%	-8.8%	-1.6%	2.2%	-9.3%	-14.8%	-38.4%	-33.9%	-18.0%
EBITDA Growth	11.7%	34.6%	5.7%	-37.1%	-25.0%	45.0%	50.6%	1.4%	17.0%	-41.6%	-57.0%	-19.3%
Operating Income Growth	16.5%	58.7%	9.1%	-42.3%	-29.5%	104.7%	92.1%	8.2%	22.8%	-60.7%	-68.5%	-25.2%
Net Income Growth	36.6%	390.3%	93.8%	-28.5%	-22.7%	54.2%	740.7%	3.0%	20.0%	-395.1%	-105.4%	-48.1%
Margins Quarterly
EBITDA Margin	11.6%	9.1%	9.7%	8.6%	11.1%	7.3%	9.3%	13.8%	13.5%	4.9%	6.3%	12.4%
Operating Income Margin	9.6%	6.8%	7.6%	6.6%	8.8%	4.6%	7.1%	11.7%	11.4%	2.2%	3.8%	9.8%
Net Income Margin	5.9%	3.4%	4.3%	3.7%	4.6%	-1.3%	2.3%	5.3%	5.4%	-2.7%	-0.4%	4.7%
Cash & Debt
Total Cash	3	3	3	4	4	4	3	4	4	3	5	6
Total Debt	141	135	134	135	157	157	161	181	220	229	227	265
Net Debt / (Cash)	138	132	132	131	154	153	158	177	215	225	222	259
Cash Flows Quarterly
FCF from Operations	-3	1	1	24	4	6	17	42	11	-1	21	28
Cash Flows TTM
FCF from Operations TTM	23	31	37	53	71	78	70	74	60	47	26	19
Returns to Shareholders Quarterly
Dividends	1	1	1	1	1	1	1	1	1	1	1	1
Share Repurchases	-0	-0	0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	17.2%	10.8%	13.2%	14.6%	13.6%	6.1%	10.6%	16.8%	15.8%	2.4%	4.4%	13.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	13.5%	13.3%	12.5%	12.3%	12.1%	13.7%	12.7%	10.5%	9.8%	8.6%	9.5%	10.6%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Wholesale	337	485	391	186	180
Retail	117	115	95	73	65
Contract Manufacturing	8	15	28	19
Military					26
Total	462	615	514	277	270

Price Behavior

Price Behavior

Market Price	$29.95
Market Cap ($ Bil)	0.2
First Trading Date	02/03/1993
Distance from 52W High	-4.1%
	50 Days	200 Days
DMA Price	$29.37	$24.27
DMA Trend	up	up
Distance from DMA	2.0%	23.4%
	3M	1YR
Volatility	30.3%	73.6%
Downside Capture	86.06	126.76
Upside Capture	85.86	136.68
Correlation (SPY)	38.1%	30.8%

RCKY Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.24	0.99	1.06	1.30	1.17	1.42
Up Beta	0.03	0.86	1.34	1.51	0.88	1.29
Down Beta	-1.03	1.01	0.81	1.30	1.21	1.62
Up Capture	111%	101%	93%	155%	194%	220%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	10	22	33	63	124	358
Down Capture	9%	102%	120%	105%	115%	108%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	20	30	63	124	392

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of RCKY With Other Asset Classes (Last 1Y)
	RCKY	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	31.3%	3.1%	14.7%	67.3%	6.8%	-0.5%	-16.6%
Annualized Volatility	73.1%	24.7%	19.7%	19.3%	15.2%	17.6%	35.4%
Sharpe Ratio	0.63	0.07	0.57	2.54	0.23	-0.18	-0.25
Correlation With Other Assets		31.4%	31.1%	-4.8%	3.8%	27.2%	18.9%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of RCKY With Other Asset Classes (Last 5Y)
	RCKY	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	2.8%	10.2%	15.0%	18.9%	11.8%	5.1%	35.8%
Annualized Volatility	65.5%	23.8%	17.1%	15.5%	18.7%	18.9%	48.9%
Sharpe Ratio	0.31	0.39	0.71	0.98	0.51	0.18	0.63
Correlation With Other Assets		33.8%	34.8%	0.7%	11.2%	31.9%	16.0%

Based On 10-Year Data

		Comparison of RCKY With Other Asset Classes (Last 10Y)
	RCKY	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	14.2%	13.3%	14.9%	14.9%	6.7%	5.5%	69.9%
Annualized Volatility	58.5%	22.0%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.46	0.56	0.71	0.84	0.30	0.23	0.90
Correlation With Other Assets		36.4%	36.7%	-0.9%	14.1%	34.6%	12.1%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	188,327
Short Interest: % Change Since 11152025	1.8%
Average Daily Volume	55,830
Days-to-Cover Short Interest	3.37
Basic Shares Quantity	7,475,000
Short % of Basic Shares	2.5%

Returns Analyses

	Title
0	How Low Can Rocky Brands Stock Really Go?

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/28/2025	-2.6%	-4.7%	3.1%
7/29/2025	15.0%	17.6%	33.5%
2/25/2025	-10.9%	-21.3%	-23.3%
10/30/2024	-26.6%	-25.3%	-21.7%
7/30/2024	-2.4%	-21.7%	-11.1%
2/28/2024	-16.3%	-16.5%	-8.5%
11/1/2023	43.7%	83.6%	130.5%
8/1/2023	-3.7%	-5.2%	-15.7%
...
SUMMARY STATS
# Positive	9	8	8
# Negative	9	10	10
Median Positive	15.0%	20.0%	30.2%
Median Negative	-16.1%	-18.9%	-18.7%
Max Positive	43.7%	83.6%	130.5%
Max Negative	-26.6%	-25.3%	-36.8%

	Forward Returns
10/28/2025	-2.6%	-4.7%	3.1%
7/29/2025	15.0%	17.6%	33.5%
2/25/2025	-10.9%	-21.3%	-23.3%
10/30/2024	-26.6%	-25.3%	-21.7%
7/30/2024	-2.4%	-21.7%	-11.1%
2/28/2024	-16.3%	-16.5%	-8.5%
11/1/2023	43.7%	83.6%	130.5%
8/1/2023	-3.7%	-5.2%	-15.7%
2/23/2023	2.1%	-1.5%	-14.7%
11/2/2022	16.6%	21.5%	49.8%
8/2/2022	-19.0%	-22.1%	-22.7%
3/1/2022	26.6%	19.2%	16.5%
11/2/2021	-22.0%	-23.0%	-36.8%
8/3/2021	-16.1%	-12.2%	-15.2%
2/24/2021	10.4%	30.1%	34.2%
10/27/2020	4.4%	20.9%	27.0%
7/28/2020	39.3%	18.8%	21.4%
2/25/2020	8.8%	2.0%	-28.3%
SUMMARY STATS
# Positive	9	8	8
# Negative	9	10	10
Median Positive	15.0%	20.0%	30.2%
Median Negative	-16.1%	-18.9%	-18.7%
Max Positive	43.7%	83.6%	130.5%
Max Negative	-26.6%	-25.3%	-36.8%

SEC Filings

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Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8072025	10-Q 6/30/2025
3312025	5082025	10-Q 3/31/2025
12312024	3172025	10-K 12/31/2024
9302024	11122024	10-Q 9/30/2024
6302024	8082024	10-Q 6/30/2024
3312024	5092024	10-Q 3/31/2024
12312023	3152024	10-K 12/31/2023
9302023	11082023	10-Q 9/30/2023
6302023	8092023	10-Q 6/30/2023
3312023	5102023	10-Q 3/31/2023
12312022	3102023	10-K 12/31/2022
9302022	11082022	10-Q 9/30/2022
6302022	8092022	10-Q 6/30/2022
3312022	5092022	10-Q 3/31/2022
12312021	3152022	10-K 12/31/2021

Insider Activity

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	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Smith Dwight Eric		11072025	Buy	28.98	300	8,694	411,719	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Rocky Brands (RCKY)

Market Price (12/23/2025): $29.96 | Market Cap: $224.0 MilSector: Consumer Discretionary | Industry: Footwear

Rocky Brands (RCKY)

Market Price (12/23/2025): $29.96Market Cap: $224.0 MilSector: Consumer DiscretionaryIndustry: Footwear

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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RCKY Stock

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About Rocky Brands (RCKY)

Expected Drivers of Future Revenue Growth for Rocky Brands (RCKY)

Interactive Breakdown

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INDUSTRY: Footwear

Higher Rev Chg 3Y Avg | Lower P/S (Values for RCKY: -9.1% | 0.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for RCKY: -9.1% | 6.2x)

Higher Rev Chg LTM (Value for RCKY: 4.1%)

Higher Rev Chg 3Y Avg (Value for RCKY: -9.1%)

Higher Op Mgn LTM (Value for RCKY: 7.7%)

Higher CFO/Rev LTM (Value for RCKY: 4.9%)

Higher FCF/Rev LTM (Value for RCKY: 3.4%)

Higher Total Yield (Value for RCKY: 11.3%)

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for RCKY: -9.1% | 0.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for RCKY: -9.1% | 6.2x)

Higher Rev Chg LTM (Value for RCKY: 4.1%)

Higher Rev Chg 3Y Avg (Value for RCKY: -9.1%)

Higher Op Mgn LTM (Value for RCKY: 7.7%)

Higher CFO/Rev LTM (Value for RCKY: 4.9%)

Higher FCF/Rev LTM (Value for RCKY: 3.4%)

Higher Total Yield (Value for RCKY: 11.3%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for RCKY: -9.1% | 0.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for RCKY: -9.1% | 6.2x)

Higher Rev Chg LTM (Value for RCKY: 4.1%)

Higher Rev Chg 3Y Avg (Value for RCKY: -9.1%)

Higher Op Mgn LTM (Value for RCKY: 7.7%)

Higher CFO/Rev LTM (Value for RCKY: 4.9%)

Higher FCF/Rev LTM (Value for RCKY: 3.4%)

Higher Total Yield (Value for RCKY: 11.3%)

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Market Price (12/23/2025): $29.96 | Market Cap: $224.0 Mil
Sector: Consumer Discretionary | Industry: Footwear

Market Price (12/23/2025): $29.96
Market Cap: $224.0 Mil
Sector: Consumer Discretionary
Industry: Footwear