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Rocky Brands, Inc. designs, manufactures, and markets footwear and apparel in the United States, Canada, the United Kingdom, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels. Its Retail segment sells its products direct sales to consumers through its websites comprising rockyboots.com, georgiaboot.com, durangoboot.com, muckbootcompany.com, xtratuf.com, lehighoutfitters.com, lehighsafetyshoes.com, and slipgrips.com; and third-party marketplaces and Rocky Outdoor Gear Stores. The Contract Manufacturing segment include private label sales and sales to customers which are contracted to manufacture a specific footwear product for a customers. This segment also sells to the U.S. Military. It serves industrial and construction workers; hospitality industry workers, such as restaurants or hotels; farmers and ranchers; hunting, fishing, camping, and hiking enthusiasts; law enforcement, security personnel, and postal employees; and for the U.S. military personnel. The company sells its products under the Rocky, Georgia Boot, Durango, Lehigh, Muck, XTRATUF, Ranger, and Michelin brand names. The company was formerly known as William Brooks Shoe Co. Rocky Brands, Inc. was founded in 1932 and is headquartered in Nelsonville, Ohio.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $482M | $47M | $22M | $10M | 8.8% | 6.2% | 95.6% |
| 2024 | $454M | $41M | $11M | $48M | 4.9% | -1.7% | 9.2% |
| 2023 | $462M | $46M | $10M | $70M | 4.7% | -25.0% | -49.1% |
| 2022 | $615M | $56M | $20M | $12M | 9.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 615.48 | 461.83 | 453.77 | 481.98 |
| Cost Of Revenue | 390.26 | 283.24 | 274.76 | 284.69 |
| Gross Profit | 225.22 | 178.60 | 179.01 | 197.29 |
| Operating Expense | 181.18 | 143.23 | 147.94 | 160.10 |
| Operating Income | 44.04 | 35.37 | 31.07 | 37.19 |
| EBITDA | 56.36 | 46.31 | 41.32 | 47.03 |
| EBIT | 44.04 | 35.37 | 31.07 | 37.19 |
| Pretax Income | 25.77 | 14.15 | 14.06 | 27.18 |
| Tax Provision | 5.30 | 3.73 | 2.67 | 4.91 |
| Net Income | 20.46 | 10.43 | 11.39 | 22.27 |
| Net Income Common Stockholders | 20.46 | 10.43 | 11.39 | 22.27 |
| Total Expenses | 571.44 | 426.46 | 422.71 | 444.79 |
| Interest Expense | 18.27 | 21.22 | 17.01 | 10.01 |
| Normalized EBITDA | 56.36 | 46.31 | 41.32 | 47.03 |
| Normalized Income | 20.46 | 10.43 | 11.39 | 22.27 |
| Basic EPS | 2.80 | 1.42 | 1.53 | 2.98 |
| Diluted EPS | 2.78 | 1.41 | 1.52 | 2.96 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.26 | 0.19 | 0.18 |
| Net Income From Continuing Operation Net Minority Interest | 20.46 | 10.43 | 11.39 | 22.27 |
| Reconciled Depreciation | 12.32 | 10.94 | 10.25 | 9.85 |
| Reconciled Cost Of Revenue | 390.26 | 283.24 | 274.76 | 284.69 |
| Net Interest Income | -18.27 | -21.22 | -17.01 | -10.01 |
| Net Income From Continuing And Discontinued Operation | 20.46 | 10.43 | 11.39 | 22.27 |
| Total Operating Income As Reported | 44.04 | 35.37 | 31.07 | 37.19 |
| Diluted Average Shares | 7.37 | 7.38 | 7.48 | 7.53 |
| Basic Average Shares | 7.32 | 7.36 | 7.44 | 7.47 |
| Diluted NI Availto Com Stockholders | 20.46 | 10.43 | 11.39 | 22.27 |
| Net Income Including Noncontrolling Interests | 20.46 | 10.43 | 11.39 | 22.27 |
| Net Income Continuous Operations | 20.46 | 10.43 | 11.39 | 22.27 |
| Other Income Expense | 0 | 0 | 0 | 0 |
| Other Non Operating Income Expenses | 0 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -18.27 | -21.22 | -17.01 | -10.01 |
| Interest Expense Non Operating | 18.27 | 21.22 | 17.01 | 10.01 |
| Other Operating Expenses | 181.18 | 143.23 | 147.94 | 160.10 |
| Operating Revenue | 615.48 | 461.83 | 453.77 | 481.98 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Rocky Brands, Inc.this co. | RCKY | $273M | 14.66 | 1.08 | 8.8% | 9.66 |
| Strattec Security Corporation | STRT | $312M | 11.30 | 1.28 | 7.6% | 4.77 |
| Marine Products Corporation | MPX | $276M | 24.44 | 2.19 | 9.1% | 13.15 |
| Hamilton Beach Brands Holding Company | HBB | $273M | 10.32 | 1.48 | 14.5% | 7.39 |
| JAKKS Pacific, Inc. | JAKK | $246M |
| 25.00 |
| 0.98 |
| 4.0% |
| 10.15 |
| Escalade, Incorporated | ESCA | $242M | 17.72 | 1.39 | 7.9% | 10.43 |
| Funko, Inc. | FNKO | $238M | - | 1.27 | -36.2% | 35.98 |
| Jack in the Box Inc. | JACK | $235M | - | -0.25 | 8.6% | 11.54 |
| Flexsteel Industries, Inc. | FLXS | $232M | 10.38 | 1.64 | 12.0% | 7.51 |
| Peer Median | - | 14.51 | 1.33 | 8.3% | 10.29 | |