RCKY Stock Overview
Rocky Brands, Inc. designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and licensed Michelin brand names in the United States, Canada, and internationally.
Price History & Performance
|Historical stock prices|
|Current Share Price||US$43.17|
|52 Week High||US$69.00|
|52 Week Low||US$28.14|
|1 Month Change||16.55%|
|3 Month Change||-16.01%|
|1 Year Change||37.48%|
|3 Year Change||50.84%|
|5 Year Change||252.41%|
|Change since IPO||259.75%|
Recent News & Updates
Rocky Brands: Recent Sell-Off Has Created Prime Entry Point
Due to its recent acquisition of Honeywell International's footwear business, the company encountered unexpected fulfillment issues which caused a miss in sales expectations. Demand for RCKY’s products has remained strong and unfulfilled open orders have not been cancelled. We believe RCKY is undervalued through a conservative 15x P/E ratio blended with our DCF valuation.
Rocky Brands' (NASDAQ:RCKY) Upcoming Dividend Will Be Larger Than Last Year's
Rocky Brands, Inc.'s ( NASDAQ:RCKY ) dividend will be increasing to US$0.15 on 16th of December. This will take the...
Revenues +61%, P/E Of 7.6x, Temporary Product Fulfillment Issues Impact Quarter
3Q21 net sales up 61.4% YoY but adjusted net income down 67.3% YoY. Demand for their brands is robust. Temporary issues with product fulfillment issues resulted in an impact on financials. Adjusted gross margins fell 30bps YoY. Stock up 82% since our initial recommendation in August 2020, and we still expect an upside of 134%.
|RCKY||US Luxury||US Market|
Return vs Industry: RCKY exceeded the US Luxury industry which returned 4.2% over the past year.
Return vs Market: RCKY exceeded the US Market which returned 13.7% over the past year.
|RCKY Average Weekly Movement||8.2%|
|Luxury Industry Average Movement||5.9%|
|Market Average Movement||6.6%|
|10% most volatile stocks in US Market||15.9%|
|10% least volatile stocks in US Market||2.4%|
Stable Share Price: RCKY is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.
Volatility Over Time: RCKY's weekly volatility (8%) has been stable over the past year.
About the Company
Rocky Brands, Inc. designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and licensed Michelin brand names in the United States, Canada, and internationally. It operates through three segments: Wholesale, Retail, and Military. 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.
Rocky Brands Fundamentals Summary
|RCKY fundamental statistics|
Is RCKY overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|RCKY income statement (TTM)|
|Cost of Revenue||US$262.82m|
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
|Earnings per share (EPS)||2.43|
|Net Profit Margin||4.10%|
How did RCKY perform over the long term?See historical performance and comparison
1.4%Current Dividend Yield
Is Rocky Brands undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: RCKY ($43.17) is trading above our estimate of fair value ($12.24)
Significantly Below Fair Value: RCKY is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: RCKY is poor value based on its PE Ratio (17.8x) compared to the US Luxury industry average (16.9x).
PE vs Market: RCKY is poor value based on its PE Ratio (17.8x) compared to the US market (17.4x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate RCKY's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: RCKY's PB Ratio (1.7x) is in line with the US Luxury industry average.
How is Rocky Brands forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if RCKY's forecast earnings growth is above the savings rate (2%).
Earnings vs Market: Insufficient data to determine if RCKY's earnings are forecast to grow faster than the US market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: RCKY's revenue (12.5% per year) is forecast to grow faster than the US market (9.3% per year).
High Growth Revenue: RCKY's revenue (12.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if RCKY's Return on Equity is forecast to be high in 3 years time
How has Rocky Brands performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: RCKY has a large one-off loss of $13.2M impacting its September 30 2021 financial results.
Growing Profit Margin: RCKY's current net profit margins (4.1%) are lower than last year (6.2%).
Past Earnings Growth Analysis
Earnings Trend: RCKY has become profitable over the past 5 years, growing earnings by 35.4% per year.
Accelerating Growth: RCKY's earnings growth over the past year (8.6%) is below its 5-year average (35.4% per year).
Earnings vs Industry: RCKY earnings growth over the past year (8.6%) underperformed the Luxury industry 57.1%.
Return on Equity
High ROE: RCKY's Return on Equity (9.5%) is considered low.
How is Rocky Brands's financial position?
Financial Position Analysis
Short Term Liabilities: RCKY's short term assets ($309.6M) exceed its short term liabilities ($114.4M).
Long Term Liabilities: RCKY's short term assets ($309.6M) exceed its long term liabilities ($246.4M).
Debt to Equity History and Analysis
Debt Level: RCKY's net debt to equity ratio (121.4%) is considered high.
Reducing Debt: RCKY's debt to equity ratio has increased from 22.5% to 128.3% over the past 5 years.
Debt Coverage: RCKY's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: Insufficient data to determine if RCKY's interest payments on its debt are well covered by EBIT.
What is Rocky Brands's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: RCKY's dividend (1.44%) is higher than the bottom 25% of dividend payers in the US market (1.32%).
High Dividend: RCKY's dividend (1.44%) is low compared to the top 25% of dividend payers in the US market (3.44%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, RCKY has been paying a dividend for less than 10 years.
Growing Dividend: RCKY's dividend payments have increased, but the company has only paid a dividend for 9 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (23.6%), RCKY's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Jason Brooks (49 yo)
Mr. Jason S. Brooks has been Chief Executive Officer and President of Rocky Brands, Inc. since May 19, 2017. Mr. Brooks served as President of Core Brands - Rocky Brands US, LLC at Rocky Brands, Inc. from...
CEO Compensation Analysis
Compensation vs Market: Jason's total compensation ($USD697.13K) is below average for companies of similar size in the US market ($USD1.68M).
Compensation vs Earnings: Jason's compensation has increased by more than 20% in the past year.
Experienced Management: RCKY's management team is seasoned and experienced (6.4 years average tenure).
Experienced Board: RCKY's board of directors are seasoned and experienced ( 18 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Rocky Brands, Inc.'s employee growth, exchange listings and data sources
- Name: Rocky Brands, Inc.
- Ticker: RCKY
- Exchange: NasdaqGS
- Founded: 1932
- Industry: Footwear
- Sector: Consumer Durables
- Implied Market Cap: US$315.150m
- Shares outstanding: 7.30m
- Website: https://www.rockybrands.com
Number of Employees
- Rocky Brands, Inc.
- 39 East Canal Street
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/01/16 23:21|
|End of Day Share Price||2022/01/14 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.