Rocky Mountain Chocolate Factory (RMCF)
Market Price (6/23/2026): $1.5 | Market Cap: $13.5 MilSector: Consumer Staples | Industry: Packaged Foods & Meats
Rocky Mountain Chocolate Factory (RMCF)
Market Price (6/23/2026): $1.5Market Cap: $13.5 MilSector: Consumer StaplesIndustry: Packaged Foods & Meats
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and E-commerce & Digital Retail. Themes include Experiential Retail, Luxury Consumer Goods, Show more. | Weak multi-year price returns2Y Excs Rtn is -76%, 3Y Excs Rtn is -142% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -3.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -13% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 50% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.0%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.1%, Rev Chg QQuarterly Revenue Change % is -24% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -6.6%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -8.7% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -39% Key risksRMCF key risks include [1] severely compressed gross margins from locking in historically high cocoa prices, Show more. |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and E-commerce & Digital Retail. Themes include Experiential Retail, Luxury Consumer Goods, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -76%, 3Y Excs Rtn is -142% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -3.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -13% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 50% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.0%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.1%, Rev Chg QQuarterly Revenue Change % is -24% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -6.6%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -8.7% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -39% |
| Key risksRMCF key risks include [1] severely compressed gross margins from locking in historically high cocoa prices, Show more. |
Qualitative Assessment
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Rocky Mountain Chocolate Factory (RMCF) stock has lost about 40% since 2/28/2026 because of the following key factors:
1. Rocky Mountain Chocolate Factory experienced a significant revenue decline in its fiscal fourth quarter of 2026, which ended on February 28, 2026. Total revenue for fiscal Q4 2026 was $6.8 million, representing a 24.1% decrease from $8.9 million in fiscal Q4 2025. This was primarily driven by a 27.8% drop in product sales to $5.1 million and a 9.5% slip in franchise and royalty fees to $1.6 million.
2. The company reported a widened net loss in fiscal Q4 2026. The net loss increased to $3.4 million, or $0.38 per share, in fiscal Q4 2026, compared to a net loss of $2.9 million, or $0.37 per share, in the same quarter of the previous fiscal year.
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Rocky Mountain Chocolate Factory (RMCF) stock has lost about 40% since 2/28/2026 because of the following key factors:
1. Rocky Mountain Chocolate Factory experienced a significant revenue decline in its fiscal fourth quarter of 2026, which ended on February 28, 2026. Total revenue for fiscal Q4 2026 was $6.8 million, representing a 24.1% decrease from $8.9 million in fiscal Q4 2025. This was primarily driven by a 27.8% drop in product sales to $5.1 million and a 9.5% slip in franchise and royalty fees to $1.6 million.
2. The company reported a widened net loss in fiscal Q4 2026. The net loss increased to $3.4 million, or $0.38 per share, in fiscal Q4 2026, compared to a net loss of $2.9 million, or $0.37 per share, in the same quarter of the previous fiscal year.
3. Operational missteps in product assortment and strategic reductions in low-margin business contributed to the decline. Management identified an unsuccessful packaged product assortment strategy, where packaged product sales fell approximately $1.5 million below internal expectations, as a primary reason for the disappointing performance. Furthermore, the company deliberately reduced certain low- or negative-margin Specialty Markets business, which negatively impacted Q4 revenue by nearly $1.5 million, alongside temporary disruptions from an e-commerce transition and disposal of outdated packaging.
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Stock Movement Drivers
Fundamental Drivers
The -42.4% change in RMCF stock from 2/28/2026 to 6/22/2026 was primarily driven by a -28.2% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6222026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.55 | 1.47 | -42.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 30 | 27 | -7.2% |
| P/S Multiple | 0.7 | 0.5 | -28.2% |
| Shares Outstanding (Mil) | 8 | 9 | -13.4% |
| Cumulative Contribution | -42.4% |
Market Drivers
2/28/2026 to 6/22/2026| Return | Correlation | |
|---|---|---|
| RMCF | -42.4% | |
| Market (SPY) | 8.8% | 47.9% |
| Sector (XLP) | -8.2% | 21.4% |
Fundamental Drivers
The -13.0% change in RMCF stock from 11/30/2025 to 6/22/2026 was primarily driven by a -13.6% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 11302025 | 6222026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.69 | 1.47 | -13.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 30 | 27 | -8.3% |
| P/S Multiple | 0.4 | 0.5 | 9.8% |
| Shares Outstanding (Mil) | 8 | 9 | -13.6% |
| Cumulative Contribution | -13.0% |
Market Drivers
11/30/2025 to 6/22/2026| Return | Correlation | |
|---|---|---|
| RMCF | -13.0% | |
| Market (SPY) | 9.5% | 30.4% |
| Sector (XLP) | 5.0% | 10.1% |
Fundamental Drivers
The 21.0% change in RMCF stock from 5/31/2025 to 6/22/2026 was primarily driven by a 44.9% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6222026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.22 | 1.47 | 21.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 28 | 27 | -1.6% |
| P/S Multiple | 0.3 | 0.5 | 44.9% |
| Shares Outstanding (Mil) | 8 | 9 | -15.2% |
| Cumulative Contribution | 21.0% |
Market Drivers
5/31/2025 to 6/22/2026| Return | Correlation | |
|---|---|---|
| RMCF | 21.0% | |
| Market (SPY) | 27.7% | 23.2% |
| Sector (XLP) | 2.0% | 6.6% |
Fundamental Drivers
The -71.3% change in RMCF stock from 5/31/2023 to 6/22/2026 was primarily driven by a -54.2% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6222026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.12 | 1.47 | -71.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 30 | 27 | -9.6% |
| P/S Multiple | 1.1 | 0.5 | -54.2% |
| Shares Outstanding (Mil) | 6 | 9 | -30.7% |
| Cumulative Contribution | -71.3% |
Market Drivers
5/31/2023 to 6/22/2026| Return | Correlation | |
|---|---|---|
| RMCF | -71.3% | |
| Market (SPY) | 85.1% | 13.3% |
| Sector (XLP) | 22.7% | 4.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RMCF Return | 94% | -27% | -19% | -47% | -22% | -21% | -63% |
| Peers Return | 20% | 14% | -13% | -14% | -28% | 9% | -19% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| RMCF Win Rate | 58% | 33% | 50% | 33% | 50% | 50% | |
| Peers Win Rate | 58% | 52% | 38% | 48% | 33% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| RMCF Max Drawdown | -32% | -34% | -36% | -70% | -61% | -49% | |
| Peers Max Drawdown | -10% | -15% | -32% | -26% | -37% | -28% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GIS, FLO, WEST, ENHA, MDLZ.
[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] 2026 data is for the year up to 6/22/2026 (YTD)
How Low Can It Go
| Event | RMCF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -34.7% | -18.8% |
| % Gain to Breakeven | 53.1% | 23.1% |
| Time to Breakeven | 93 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -26.6% | -7.8% |
| % Gain to Breakeven | 36.2% | 8.5% |
| Time to Breakeven | 63 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.3% | -24.5% |
| % Gain to Breakeven | 35.7% | 32.4% |
| Time to Breakeven | 43 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.2% | -33.7% |
| % Gain to Breakeven | 118.3% | 50.9% |
| Time to Breakeven | 475 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.6% | -19.2% |
| % Gain to Breakeven | 26.0% | 23.8% |
| Time to Breakeven | 168 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.0% | -12.2% |
| % Gain to Breakeven | 26.6% | 13.9% |
| Time to Breakeven | 368 days | 62 days |
In The Past
Rocky Mountain Chocolate Factory's stock fell -34.7% during the 2025 US Tariff Shock. Such a loss loss requires a 53.1% gain to breakeven.
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| Event | RMCF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -34.7% | -18.8% |
| % Gain to Breakeven | 53.1% | 23.1% |
| Time to Breakeven | 93 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -26.6% | -7.8% |
| % Gain to Breakeven | 36.2% | 8.5% |
| Time to Breakeven | 63 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.3% | -24.5% |
| % Gain to Breakeven | 35.7% | 32.4% |
| Time to Breakeven | 43 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.2% | -33.7% |
| % Gain to Breakeven | 118.3% | 50.9% |
| Time to Breakeven | 475 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.6% | -19.2% |
| % Gain to Breakeven | 26.0% | 23.8% |
| Time to Breakeven | 168 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.0% | -12.2% |
| % Gain to Breakeven | 26.6% | 13.9% |
| Time to Breakeven | 368 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -22.2% | -6.8% |
| % Gain to Breakeven | 28.5% | 7.3% |
| Time to Breakeven | 369 days | 15 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -72.3% | -53.4% |
| % Gain to Breakeven | 261.3% | 114.4% |
| Time to Breakeven | 1532 days | 1085 days |
In The Past
Rocky Mountain Chocolate Factory's stock fell -34.7% during the 2025 US Tariff Shock. Such a loss loss requires a 53.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Rocky Mountain Chocolate Factory (RMCF)
Rocky Mountain Chocolate Factory, Inc. (RMCF) operates as a confectionery franchisor, manufacturer, and retail operator, specializing in high-quality chocolate candies and other sweet treats. The company's core product line includes approximately 450 varieties of chocolates and confections such as clusters, caramels, truffles, and mints. RMCF is also renowned for its 15 varieties of gourmet caramel apples and offers additional in-store items like ice cream and coffee, catering to a diverse clientele seeking premium desserts and snacks.
RMCF's business model heavily relies on an extensive franchise network. Its "Rocky Mountain Chocolate Factory" brand stores, predominantly franchised or licensee-owned, operate across 37 U.S. states and internationally in countries like Canada, South Korea, Panama, and the Philippines. Beyond traditional chocolates, the company has diversified into the self-serve frozen yogurt market, franchising cafés under various brand names such as U-Swirl and Yogurtini, which serve customers in 23 states and Qatar.
This broad operational footprint ensures RMCF serves a wide consumer base in both the confectionery and frozen dessert sectors. Furthermore, RMCF's manufacturing capabilities support its expansive retail network, ensuring consistent product supply. The company also extends its market reach through strategic alliances, such as providing branded chocolate products to Edible Arrangements, solidifying its position as a significant player in the specialty food and beverage industry.
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Here are 1-3 brief analogies to describe Rocky Mountain Chocolate Factory:
- It's like Dunkin' but for gourmet chocolates and other sweet treats.
- Think of it as the Baskin-Robbins of artisan chocolates.
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- Chocolate Candies and Confectionery Products: A wide assortment of chocolates including clusters, caramels, creams, toffees, mints, and truffles.
- Caramel Apples: Specialty caramel apples offered in various varieties, prepared freshly in their stores.
- Ice Cream: A range of ice cream options available at their retail locations.
- Coffee and Other Sundries: Beverages such as coffee and miscellaneous items sold in their stores.
- Self-serve Frozen Yogurt: Frozen yogurt products provided through their U-Swirl and other associated brand cafés.
- Franchising Services: The company offers the opportunity for independent operators to open and run Rocky Mountain Chocolate Factory stores and self-serve frozen yogurt cafés.
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- Franchisees and Licensees: These are independent business entities that operate franchised or licensed Rocky Mountain Chocolate Factory stores and U-Swirl/frozen yogurt cafes. They purchase the rights to operate under RMCF's brands, as well as confectionery products and supplies from RMCF.
- Edible Arrangements, LLC: RMCF has a strategic alliance with Edible Arrangements, LLC and its affiliates, providing them with certain branded chocolate products. Edible Arrangements, LLC is a privately held company.
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Jeffrey R. Geygan, Interim Chief Executive Officer
Jeffrey R. Geygan has served as the Interim Chief Executive Officer of Rocky Mountain Chocolate Factory, Inc. since May 2024. He was also appointed to the Board of Directors in August 2021 and served as Board Chair from June 2022 to May 2024. Prior to his current role, Mr. Geygan was the Chief Executive Officer and President of Global Value Investment Corp. (GVIC), an investment research and advisory services firm, which he founded in August 2007. He continues to serve as Board Chair of GVIC. Mr. Geygan previously held positions as a Senior Portfolio Manager at UBS Financial Services and a Portfolio Manager at Salomon Smith Barney, Inc. He has also served as a director and Board Chair for Climb Global Solutions, Inc. Mr. Geygan has demonstrated significant confidence in RMCF, having consistently purchased company shares, including substantial buys through Global Value Investment Corporation.
Carrie E. Cass, Chief Financial Officer
Carrie E. Cass was appointed Chief Financial Officer of Rocky Mountain Chocolate Factory, Inc. effective August 5, 2024. Ms. Cass brings extensive experience in financial management, manufacturing, and strategic leadership. She previously served as the Chief Executive Officer at Ballantine Communications, a multimedia agency, and prior to that, she was the Chief Financial Officer of Aeroscraft Corporation, an aerospace research and development company. Additionally, Ms. Cass was a Partner at Johnston & Co., an accounting, tax, and advisory firm. She is a Certified Public Accountant and holds a Bachelor of Science in Business Administration and Accounting from California State University, Northridge.
Luis Burgos, Vice President, Operations
Luis Burgos joined Rocky Mountain Chocolate Factory, Inc. in 2025 as Vice President, Operations. He brings 29 years of large-scale manufacturing experience to his role.
David Denker, VP Franchise Development
David Denker joined Rocky Mountain Chocolate Factory, Inc. in 2025 as VP Franchise Development. He possesses deep expertise in franchise expansion.
Jeremy Garcia, VP Marketing
Jeremy Garcia joined Rocky Mountain Chocolate Factory, Inc. in 2024 as VP Marketing. He has over 13 years of marketing leadership experience spanning e-commerce, consumer packaged goods (CPG), and strategic growth initiatives, with expertise in brand development, multi-channel marketing, and cross-functional team leadership.
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Key Risks to Rocky Mountain Chocolate Factory (RMCF)
Rocky Mountain Chocolate Factory (RMCF) faces several critical risks as it navigates its current business environment.
- Execution Risk of Strategic Transformation and Profitability Challenges: The company is undergoing a significant and costly turnaround, marked by ongoing net losses and negative profitability. The success of this transformation plan, which aims to address branding, operational gaps, and expand channels, carries substantial execution risks. If the strategic initiatives, including logistics improvements, factory modernization, rebranding, and e-commerce growth, fail to significantly boost sales volumes and improve margins, the company's financial stability could remain precarious. The inclusion of a "going concern" explanatory paragraph in recent financial statements underscores the gravity of these financial and operational challenges.
- Supply Chain Disruptions and Escalating Raw Material Costs: RMCF is highly dependent on the availability and stable pricing of high-quality ingredients for its confectionery products. The business is vulnerable to supply chain disruptions and significant price volatility, particularly with key raw materials like cocoa. Recent periods have seen increased cocoa and other inflationary pressures, which have directly squeezed the company's gross profit and contributed to higher input costs, challenging its ability to maintain healthy margins.
- Dependence on Franchisee Performance and Evolving Consumer Preferences: A core component of RMCF's business model is its extensive franchise network. The company's brand reputation and revenue are heavily reliant on the consistent performance and effective execution of strategic initiatives, such as brand refreshes and new point-of-sale/ERP system rollouts, by its franchisees. Furthermore, as a confectionery producer, RMCF is susceptible to shifts in consumer preferences and demand. The need for pricing adjustments to improve margins must be carefully balanced to avoid negatively impacting consumer interest, especially given the premium positioning of its products.
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Confectionery Market
The global chocolate confectionery market size was valued at approximately USD 173.20 billion in 2025 and is projected to grow to USD 183.53 billion in 2026.
In North America, the confectionery market, which includes chocolate and non-chocolate products, was valued at USD 61.37 billion in 2024. The chocolate segment accounted for 46.92% of the North America confectionery market share in 2025, which would be approximately USD 34.97 billion based on a total market value of USD 74.55 billion in 2025.
The U.S. chocolate confectionery market was valued at USD 28.1 billion in 2024. The overall U.S. confectionery market size was valued at USD 38.17 billion in 2022.
Frozen Yogurt Market
The global frozen yogurt market size was valued at approximately USD 10.8 billion in 2023. It was valued at USD 10.4 billion in 2021 and is projected to reach USD 17.1 billion by 2031.
The U.S. frozen yogurt market size was valued at USD 360.23 million in 2024 and is expected to reach USD 478.04 million by 2032.
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Rocky Mountain Chocolate Factory (RMCF) is strategically positioning itself for future revenue growth over the next two to three years by focusing on several key initiatives:
- Expansion of Franchise Network: The company has announced commitments for new store openings and is actively working to expand its franchise network across strategic markets in the U.S., including high-density, underpenetrated areas like Boston, New York, Atlanta, and Miami. This focus on increasing franchise density and attracting multi-unit franchisees is expected to directly contribute to higher sales volume.
- E-commerce Expansion and New Platform: Rocky Mountain Chocolate Factory is investing in and enhancing its digital presence. The launch of a new e-commerce site and efforts to improve online order fulfillment through third-party providers are anticipated to significantly boost sales by reaching a broader customer base and improving accessibility to its products.
- Strategic Pricing Actions and Optimized Product Mix: As part of a "margin-first" strategy, the company is implementing pricing adjustments and optimizing its product mix by exiting lower-margin revenue streams and focusing on higher-profitability products. While this may initially lead to a modest decline in overall revenue from divested channels, the objective is to drive sustainable and profitable revenue growth.
- Brand Refresh and Enhanced In-Store Experience: RMCF is undertaking a comprehensive brand refresh, including new store designs for both company-owned and franchised locations. This initiative aims to revitalize the in-store experience, attract new customers, and enhance the overall consumer perception of the brand, thereby increasing foot traffic and sales at retail locations.
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Share Issuance
- In August 2024, Rocky Mountain Chocolate Factory completed a $2.2 million private placement, issuing 1.25 million shares at $1.75 per share, with American Heritage Railways leading the investment.
- Subsequent to the third quarter of fiscal 2026 (early 2026), the company completed a $2.7 million equity capital raise to strengthen its financial position and provide additional working capital.
- In December 2025, 1,500,000 shares were issued in a private placement at $1.80 per share to a single selling stockholder.
Inbound Investments
- American Heritage Railways led a $2.2 million private placement in August 2024, investing in Rocky Mountain Chocolate Factory by purchasing 1.25 million shares. This investment was intended to bolster RMCF's balance sheet and provide working capital.
- Within six months leading up to January 2026, Global Value Investment Corp, a ten percent owner, made 8 purchases totaling approximately $251,435 in RMCF stock.
- Also within six months leading up to January 2026, Interim CEO Jeffrey R. Geygan made 7 purchases of RMCF stock, totaling an estimated $208,873.
Capital Expenditures
- In the third quarter of fiscal 2026 (ended November 30, 2025), Rocky Mountain Chocolate Factory reported capital expenditures of $38,000.
- The company is focused on strategic initiatives for growth, including the launch of an omnichannel growth strategy.
- Future capital expenditures are anticipated to support franchise development, with commitments for 34 new stores and remodels for most existing stores expected to be completed by October 2026.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Rocky Mountain Chocolate Factory Earnings Notes | 12/16/2025 | |
| Would You Still Hold Rocky Mountain Chocolate Factory Stock If It Fell 30%? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 8.20 |
| Mkt Cap | 1.6 |
| Rev LTM | 5,274 |
| Op Inc LTM | 314 |
| FCF LTM | 296 |
| FCF 3Y Avg | 294 |
| CFO LTM | 418 |
| CFO 3Y Avg | 419 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.8% |
| Rev Chg 3Y Avg | 2.5% |
| Rev Chg Q | 1.1% |
| QoQ Delta Rev Chg LTM | 0.3% |
| Op Inc Chg LTM | -11.0% |
| Op Inc Chg 3Y Avg | 5.7% |
| Op Mgn LTM | 6.0% |
| Op Mgn 3Y Avg | 5.6% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 7.9% |
| CFO/Rev 3Y Avg | 8.1% |
| FCF/Rev LTM | 5.6% |
| FCF/Rev 3Y Avg | 5.7% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Manufacturing | 24 | 22 | 25 | 23 | 18 |
| Franchising | 6 | 6 | 6 | 6 | 4 |
| Retail | 1 | 1 | 1 | 1 | 1 |
| Unallocated | 0 | 0 | 0 | 0 | 0 |
| Intersegment revenues | -1 | -1 | -1 | -1 | -1 |
| U-Swirl | 2 | ||||
| Total | 30 | 28 | 30 | 29 | 23 |
| $ Mil | 2025 | 2024 | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|
| Franchising | 1 | 1 | 3 | 3 | 2 |
| Retail | 0 | 0 | |||
| Manufacturing | -1 | 0 | 6 | 5 | 4 |
| Unallocated | -6 | -7 | -2 | -3 | -2 |
| Total | -6 | -5 | 7 | 5 | 4 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Franchising | 1 | 1 |
| Retail | 0 | 0 |
| Manufacturing | -1 | 0 |
| Unallocated | -7 | -6 |
| Total | -6 | -4 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Manufacturing | 15 | 12 | 10 | 10 | 9 |
| Unallocated | 3 | 7 | 11 | 15 | 9 |
| Franchising | 2 | 1 | 1 | 1 | 1 |
| Retail | 1 | 1 | 0 | 1 | 1 |
| U-Swirl | 5 | ||||
| Total | 21 | 21 | 22 | 27 | 25 |
Price Behavior
| Market Price | $1.47 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 11/09/1993 | |
| Distance from 52W High | -49.5% | |
| 50 Days | 200 Days | |
| DMA Price | $2.08 | $1.99 |
| DMA Trend | up | down |
| Distance from DMA | -29.4% | -26.2% |
| 3M | 1YR | |
| Volatility | 63.8% | 76.1% |
| Downside Capture | 406.88 | 163.97 |
| Upside Capture | 72.09 | 127.67 |
| Correlation (SPY) | 41.1% | 25.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 5.00 | 3.29 | 2.27 | 1.67 | 1.48 | 0.55 |
| Up Beta | 3.16 | 1.86 | 1.54 | 1.72 | 1.56 | 0.44 |
| Down Beta | 13.24 | 9.44 | 2.29 | 1.97 | 2.32 | 0.59 |
| Up Capture | 48% | 128% | 164% | 174% | 147% | 10% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 7 | 17 | 27 | 56 | 112 | 326 |
| Down Capture | 823% | 702% | 312% | 144% | 102% | 95% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 11 | 22 | 34 | 62 | 125 | 380 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RMCF | |
|---|---|---|---|---|
| RMCF | -4.6% | 76.8% | 0.26 | - |
| Sector ETF (XLP) | 5.0% | 13.1% | 0.12 | 8.0% |
| Equity (SPY) | 26.1% | 12.4% | 1.59 | 26.0% |
| Gold (GLD) | 24.1% | 27.5% | 0.77 | 15.7% |
| Commodities (DBC) | 18.5% | 18.8% | 0.77 | -1.3% |
| Real Estate (VNQ) | 11.8% | 13.8% | 0.57 | 19.7% |
| Bitcoin (BTCUSD) | -40.2% | 42.5% | -1.09 | 21.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RMCF | |
|---|---|---|---|---|
| RMCF | -24.9% | 57.1% | -0.28 | - |
| Sector ETF (XLP) | 5.7% | 13.4% | 0.22 | 4.8% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 10.7% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 7.5% |
| Commodities (DBC) | 7.5% | 19.4% | 0.28 | 1.0% |
| Real Estate (VNQ) | 2.1% | 18.9% | 0.01 | 9.3% |
| Bitcoin (BTCUSD) | 9.4% | 54.1% | 0.37 | 6.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RMCF | |
|---|---|---|---|---|
| RMCF | -15.6% | 50.8% | -0.14 | - |
| Sector ETF (XLP) | 7.1% | 14.8% | 0.35 | 8.6% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 12.0% |
| Gold (GLD) | 12.2% | 16.1% | 0.62 | 5.7% |
| Commodities (DBC) | 6.0% | 18.0% | 0.26 | 6.1% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 13.2% |
| Bitcoin (BTCUSD) | 59.9% | 66.8% | 1.00 | 5.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/12/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/13/2026 | -7.0% | -5.1% | 36.0% |
| 10/14/2025 | 5.7% | 4.1% | 3.8% |
| 7/16/2025 | 1.6% | 5.2% | -25.1% |
| 10/15/2024 | 1.4% | 15.8% | 24.9% |
| 7/15/2024 | -5.7% | -10.3% | -14.7% |
| 1/11/2024 | -7.3% | -10.5% | -18.2% |
| 10/12/2023 | -5.0% | -8.0% | -17.2% |
| 7/13/2023 | -10.8% | 0.4% | -0.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 8 |
| # Negative | 10 | 9 | 11 |
| Median Positive | 1.6% | 4.7% | 20.3% |
| Median Negative | -5.2% | -8.0% | -5.8% |
| Max Positive | 6.5% | 15.8% | 46.5% |
| Max Negative | -10.8% | -14.3% | -25.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/13/2026 | -7.0% | -5.1% | 36.0% |
| 10/14/2025 | 5.7% | 4.1% | 3.8% |
| 7/16/2025 | 1.6% | 5.2% | -25.1% |
| 10/15/2024 | 1.4% | 15.8% | 24.9% |
| 7/15/2024 | -5.7% | -10.3% | -14.7% |
| 1/11/2024 | -7.3% | -10.5% | -18.2% |
| 10/12/2023 | -5.0% | -8.0% | -17.2% |
| 7/13/2023 | -10.8% | 0.4% | -0.1% |
| 5/24/2023 | -2.7% | -12.3% | -5.8% |
| 1/12/2023 | -1.3% | 2.8% | -3.6% |
| 10/12/2022 | 1.6% | 4.1% | 15.2% |
| 7/13/2022 | -2.1% | -2.8% | -2.5% |
| 5/26/2022 | -1.4% | 2.4% | 8.2% |
| 1/13/2022 | 1.0% | -5.2% | -1.6% |
| 10/15/2021 | 2.6% | 6.4% | 15.7% |
| 7/15/2021 | 0.0% | -0.9% | -2.9% |
| 1/13/2021 | 6.5% | 11.8% | 46.5% |
| 10/15/2020 | 1.8% | 15.2% | 26.7% |
| 7/20/2020 | -5.4% | -14.3% | -25.4% |
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 8 |
| # Negative | 10 | 9 | 11 |
| Median Positive | 1.6% | 4.7% | 20.3% |
| Median Negative | -5.2% | -8.0% | -5.8% |
| Max Positive | 6.5% | 15.8% | 46.5% |
| Max Negative | -10.8% | -14.3% | -25.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 05/29/2026 | 10-K |
| 11/30/2025 | 01/13/2026 | 10-Q |
| 08/31/2025 | 10/14/2025 | 10-Q |
| 05/31/2025 | 07/15/2025 | 10-Q |
| 02/28/2025 | 06/20/2025 | 10-K |
| 11/30/2024 | 01/15/2025 | 10-Q |
| 08/31/2024 | 10/15/2024 | 10-Q |
| 05/31/2024 | 07/15/2024 | 10-Q |
| 02/29/2024 | 06/13/2024 | 10-K |
| 11/30/2023 | 01/16/2024 | 10-Q |
| 08/31/2023 | 10/16/2023 | 10-Q |
| 05/31/2023 | 07/14/2023 | 10-Q |
| 02/28/2023 | 05/30/2023 | 10-K |
| 11/30/2022 | 01/13/2023 | 10-Q |
| 08/31/2022 | 10/14/2022 | 10-Q |
| 05/31/2022 | 07/15/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 05/29/2026 | 10-K |
| 11/30/2025 | 01/13/2026 | 10-Q |
| 08/31/2025 | 10/14/2025 | 10-Q |
| 05/31/2025 | 07/15/2025 | 10-Q |
| 02/28/2025 | 06/20/2025 | 10-K |
| 11/30/2024 | 01/15/2025 | 10-Q |
| 08/31/2024 | 10/15/2024 | 10-Q |
| 05/31/2024 | 07/15/2024 | 10-Q |
| 02/29/2024 | 06/13/2024 | 10-K |
| 11/30/2023 | 01/16/2024 | 10-Q |
| 08/31/2023 | 10/16/2023 | 10-Q |
| 05/31/2023 | 07/14/2023 | 10-Q |
| 02/28/2023 | 05/30/2023 | 10-K |
| 11/30/2022 | 01/13/2023 | 10-Q |
| 08/31/2022 | 10/14/2022 | 10-Q |
| 05/31/2022 | 07/15/2022 | 10-Q |
| 02/28/2022 | 05/27/2022 | 10-K |
| 11/30/2021 | 01/13/2022 | 10-Q |
| 08/31/2021 | 10/15/2021 | 10-Q |
| 05/31/2021 | 07/15/2021 | 10-Q |
| 02/28/2021 | 06/01/2021 | 10-K |
| 11/30/2020 | 01/13/2021 | 10-Q |
| 08/31/2020 | 10/15/2020 | 10-Q |
| 05/31/2020 | 07/20/2020 | 10-Q |
| 02/29/2020 | 05/29/2020 | 10-K |
| 11/30/2019 | 01/14/2020 | 10-Q |
| 08/31/2019 | 10/11/2019 | 10-Q |
| 05/31/2019 | 07/15/2019 | 10-Q |
Recent Forward Guidance
Updated 6/12/2026Latest: Q4 2026 Earnings Reported 6/1/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Revenue | 27.10 Mil | 27.60 Mil | 28.10 Mil | -6.8% | Lower New | Actual: 29.60 Mil for 2025 | |
| 2026 EBITDA | -2.60 Mil | -2.10 Mil | -1.60 Mil | 55.3% | Higher New | Actual: -4.70 Mil for 2025 | |
Insider Activity
Updated 5/8/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | American, Heritage Railways, Inc | Direct | Sell | 5082026 | 2.45 | 50,000 | 122,500 | 2,107,000 | Form | |
| 2 | Harper, Allen C | American Heritage Railways, Inc. | Sell | 5082026 | 2.45 | 50,000 | 122,500 | 2,107,000 | Form | |
| 3 | American, Heritage Railways, Inc | Direct | Sell | 5082026 | 2.45 | 35,900 | 87,955 | 2,229,500 | Form | |
| 4 | Harper, Allen C | American Heritage Railways, Inc. | Sell | 5082026 | 2.45 | 35,900 | 87,955 | 2,229,500 | Form | |
| 5 | American, Heritage Railways, Inc | Direct | Sell | 4162026 | 2.60 | 8,918 | 23,187 | 2,459,340 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | American, Heritage Railways, Inc | Direct | Sell | 5082026 | 2.45 | 50,000 | 122,500 | 2,107,000 | Form | |
| 2 | Harper, Allen C | American Heritage Railways, Inc. | Sell | 5082026 | 2.45 | 50,000 | 122,500 | 2,107,000 | Form | |
| 3 | American, Heritage Railways, Inc | Direct | Sell | 5082026 | 2.45 | 35,900 | 87,955 | 2,229,500 | Form | |
| 4 | Harper, Allen C | American Heritage Railways, Inc. | Sell | 5082026 | 2.45 | 35,900 | 87,955 | 2,229,500 | Form | |
| 5 | American, Heritage Railways, Inc | Direct | Sell | 4162026 | 2.60 | 8,918 | 23,187 | 2,459,340 | Form | |
| 6 | Harper, Allen C | American Heritage Railways, Inc. | Sell | 4162026 | 2.60 | 8,918 | 23,187 | 2,459,340 | Form | |
| 7 | American, Heritage Railways, Inc | Direct | Sell | 4162026 | 2.60 | 11,297 | 29,372 | 2,482,527 | Form | |
| 8 | Harper, Allen C | American Heritage Railways, Inc. | Sell | 4162026 | 2.60 | 11,297 | 29,372 | 2,482,527 | Form | |
| 9 | American, Heritage Railways, Inc | Direct | Sell | 4162026 | 2.60 | 5,241 | 13,627 | 2,511,899 | Form | |
| 10 | Harper, Allen C | American Heritage Railways, Inc. | Sell | 4162026 | 2.60 | 5,241 | 13,627 | 2,511,899 | Form | |
| 11 | American, Heritage Railways, Inc | Direct | Sell | 4162026 | 2.61 | 18,715 | 48,783 | 2,531,937 | Form | |
| 12 | Harper, Allen C | American Heritage Railways, Inc. | Sell | 4162026 | 2.61 | 18,715 | 48,783 | 2,531,937 | Form | |
| 13 | American, Heritage Railways, Inc | Direct | Sell | 4162026 | 2.60 | 430 | 1,118 | 2,575,175 | Form | |
| 14 | Harper, Allen C | American Heritage Railways, Inc. | Sell | 4162026 | 2.60 | 430 | 1,118 | 2,575,175 | Form | |
| 15 | American, Heritage Railways, Inc | Direct | Sell | 4162026 | 2.60 | 7,499 | 19,509 | 2,576,788 | Form | |
| 16 | Harper, Allen C | American Heritage Railways, Inc. | Sell | 4162026 | 2.60 | 7,499 | 19,509 | 2,576,788 | Form | |
| 17 | American, Heritage Railways, Inc | Direct | Sell | 4162026 | 2.62 | 2,000 | 5,238 | 2,613,762 | Form | |
| 18 | Harper, Allen C | American Heritage Railways, Inc. | Sell | 4162026 | 2.62 | 2,000 | 5,238 | 2,613,762 | Form | |
| 19 | Geygan, Jeffrey Richart | Interim CEO | Global Value Investment Corporation | Buy | 1222026 | 1.98 | 11,300 | 22,353 | 3,545,701 | Form |
| 20 | Global, Value Investment Corp | Interim CEO | See footnotes. | Buy | 1222026 | 1.98 | 11,300 | 22,353 | 3,899,440 | Form |
| 21 | Geygan, Jeffrey Richart | Interim CEO | Global Value Investment Corporation | Buy | 11062025 | 1.64 | 8,935 | 14,644 | 2,936,553 | Form |
| 22 | Global, Value Investment Corp | Interim CEO | See footnotes. | Buy | 11062025 | 1.64 | 8,935 | 14,644 | 3,229,634 | Form |
| 23 | Global, Value Investment Corp | Interim CEO | See footnotes. | Buy | 10282025 | 1.82 | 6,720 | 12,211 | 3,568,459 | Form |
| 24 | Geygan, Jeffrey Richart | Interim CEO | Global Value Investment Corporation | Buy | 10282025 | 1.82 | 6,720 | 12,211 | 3,243,511 | Form |
| 25 | Geygan, Jeffrey Richart | Interim CEO | Global Value Investment Corporation | Buy | 10232025 | 1.78 | 8,775 | 15,620 | 3,165,504 | Form |
| 26 | Global, Value Investment Corp | Interim CEO | See footnotes. | Buy | 10232025 | 1.78 | 8,775 | 15,620 | 3,483,835 | Form |
| 27 | Geygan, Jeffrey Richart | Interim CEO | Global Value Investment Corporation | Buy | 10232025 | 1.65 | 14,562 | 24,081 | 2,926,219 | Form |
| 28 | Global, Value Investment Corp | Interim CEO | See footnotes. | Buy | 10232025 | 1.65 | 14,562 | 24,081 | 3,221,947 | Form |
| 29 | Global, Value Investment Corp | Interim CEO | See footnotes. | Buy | 10212025 | 1.61 | 13,753 | 22,101 | 3,112,998 | Form |
| 30 | Geygan, Jeffrey Richart | Interim CEO | Global Value Investment Corporation | Buy | 10212025 | 1.61 | 13,753 | 22,101 | 2,825,622 | Form |
| 31 | Global, Value Investment Corp | Interim CEO | See footnotes. | Buy | 10212025 | 1.59 | 61,670 | 97,864 | 3,052,237 | Form |
| 32 | Geygan, Jeffrey Richart | Interim CEO | Global Value Investment Corporation | Buy | 10212025 | 1.59 | 61,670 | 97,864 | 2,768,455 | Form |
| 33 | Geygan, Jeffrey Richart | Interim CEO | Global Value Investment Corporation | Buy | 7242025 | 1.93 | 11,072 | 21,357 | 3,305,027 | Form |
| 34 | Global, Value Investment Corp | Interim CEO | See footnotes. | Buy | 7242025 | 1.93 | 11,072 | 21,357 | 3,649,110 | Form |
Industry Resources
| Consumer Staples Resources |
| FoodNavigator |
| Consumer Goods Technology (CGT) |
| Beverage Digest |
| Packaged Foods & Meats Resources |
| USDA Data |
| Food Processing |
| Meat+Poultry |
| Just Food |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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