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RCKY

Rocky Brands, Inc.

RCKY

Rocky Brands, Inc. • NASDAQ
$30.37 ▼ -1.07% (-0.33)
Market Cap $226.61 M
52w High $33.40
52w Low $11.93
Dividend Yield 0.62%
P/E 11.08
Volume 19.86K
Outstanding Shares 7.46M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $122.54M ▲ $37.541M ▲ $7.213M ▲ 5.886% ▲ $0.96 ▲ $23.966M ▲
Q2-2025 $105.647M ▼ $36.125M ▼ $3.608M ▼ 3.415% ▼ $0.48 ▼ $9.599M ▼
Q1-2025 $114.073M ▼ $38.302M ▼ $4.941M ▲ 4.331% ▲ $0.66 ▲ $11.088M ▼
Q4-2024 $128.054M ▲ $44.673M ▲ $4.801M ▼ 3.749% ▼ $0.64 ▼ $14.951M ▲
Q3-2024 $114.554M $33.575M $5.279M 4.608% $0.71 $12.746M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.319M ▲ $494.014M ▲ $247.917M ▲ $246.097M ▲
Q2-2025 $2.779M ▲ $471.02M ▲ $231.955M ▼ $239.065M ▲
Q1-2025 $2.557M ▼ $468.223M ▲ $232.01M ▲ $236.213M ▲
Q4-2024 $3.719M ▲ $457.3M ▼ $225.076M ▼ $232.224M ▲
Q3-2024 $3.705M $475.017M $246.767M $228.25M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $7.212M ▲ $-3.328M ▼ $-1.837M ▲ $5.705M ▲ $540K ▲ $-5.165M ▼
Q2-2025 $3.609M ▼ $812K ▼ $-3.171M ▼ $2.581M ▲ $222K ▲ $-2.359M ▼
Q1-2025 $4.941M ▲ $1.23M ▼ $-701K ▲ $-1.691M ▲ $-1.162M ▼ $529K ▼
Q4-2024 $4.801M ▼ $24.392M ▲ $-1.493M ▼ $-22.885M ▼ $14K ▲ $22.899M ▲
Q3-2024 $5.278M $4.497M $-1.04M $-3.859M $-402K $3.457M

Five-Year Company Overview

Income Statement

Income Statement Revenue grew strongly earlier in the five‑year period, then stepped back and has been roughly flat more recently. The business remains profitable, but earnings have come down from prior peaks, suggesting some margin pressure or higher costs. Gross profitability looks reasonably solid for a footwear maker, yet the company is not earning outsized profits and doesn’t have much room for error. Overall, the income statement shows a company that expanded, hit a high point, and is now working through a more normal and slightly tougher demand environment while still staying in the black.

Balance Sheet

Balance Sheet The balance sheet shows that Rocky grew its asset base significantly following acquisitions and expansion, then trimmed it back a bit as the business normalized. Debt moved from very low to meaningfully higher during the expansion, and has since been reduced somewhat but is still a notable part of the capital structure. Equity has grown steadily, which is a positive sign of retained value over time. On the caution side, cash on hand is quite thin, so financial flexibility leans more on borrowing capacity and ongoing cash generation than on a cash cushion.

Cash Flow

Cash Flow Cash generation has been choppy but improving. A few years ago, operating cash flow was strained, likely due to inventory and integration issues, but more recently cash from operations has turned clearly positive. Free cash flow has followed the same pattern, helped by modest spending on new facilities and equipment. This suggests that while the company went through a working‑capital heavy phase, it is now better aligned and turning a higher share of its earnings into actual cash, though the history shows that this can swing with the cycle.

Competitive Edge

Competitive Edge Rocky focuses on work, western, outdoor, and specialty waterproof boots rather than fashion‑driven shoes, which gives it a more defensible niche. Its portfolio of brands—Rocky, Georgia Boot, Durango, Muck, and XTRATUF—covers several distinct use cases, from farms and construction sites to fishing boats and western lifestyle. These brands carry long histories and reputations for toughness and safety, which helps customer loyalty and repeat purchases. At the same time, the company competes in a crowded global footwear market, faces retailer consolidation, and is exposed to economic cycles that affect discretionary and work‑related footwear spending.

Innovation and R&D

Innovation and R&D Innovation at Rocky is practical and customer‑driven rather than lab‑heavy. The firm focuses on technologies that improve comfort, durability, protection, and waterproof performance, such as multi‑layer comfort systems, advanced outsoles, and safety features for hazardous work environments. In‑house manufacturing in select locations helps maintain quality control and support technical features. The company is also leaning into sustainability and direct‑to‑consumer digital channels, which can both strengthen the brands if executed well. The main risk is that it must keep refreshing designs and technologies to stay ahead of copycats while managing costs in a price‑sensitive market.

Summary

Rocky Brands looks like a niche footwear company that expanded quickly through acquisitions and then had to digest that growth in a tougher environment. The business remains profitable with decent underlying margins but lower earnings than at its peak, and it carries more debt than in the past with only a small cash buffer. On the positive side, it owns a set of well‑known, functional brands with loyal users, and it has shown improving cash generation as operations stabilize. Future performance will hinge on its ability to maintain brand strength, manage debt and inventories carefully, and keep rolling out useful product innovations without overspending or overextending again.

NEWS

November 17, 2025 · 4:05 PM UTC

Rocky Brands Declares Quarterly Cash Dividend

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October 28, 2025 · 4:05 PM UTC

Rocky Brands, Inc. Announces Third Quarter 2025 Results

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October 21, 2025 · 4:05 PM UTC

Rocky Brands, Inc. to Report Third Quarter 2025 Results on October 28, 2025

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