Rocky Brands Stock Intrinsic Value – ROCKY BRANDS Reports Revenue of USD 99.8 Million for Second Quarter of 2023 with 38.4% Year-Over-Year Decline in Net Income
August 27, 2023
🌥️Earnings Overview
On August 1 2023, ROCKY BRANDS ($NASDAQ:RCKY) reported total revenue of USD 99.8 million and net income of USD -2.7 million for their second quarter ending June 30 2023, which reflected a year-over-year decrease of 38.4% from the same period a year prior when they posted USD 0.9 million in revenue.
Analysis – Rocky Brands Stock Intrinsic Value
GoodWhale provides an in-depth analysis of the financials of ROCKY BRANDS. After thoroughly studying the company’s financials, GoodWhale has determined that the intrinsic value of the ROCKY BRANDS share is around $38.3 thanks to its proprietary Valuation Line. This means that the stock is currently trading at $21.4, a 44.2% dip below the intrinsic value. This presents an opportunity for investors to purchase shares of ROCKY BRANDS and get a discount on their purchase. Investing in ROCKY BRANDS at its current pricing could prove to be a great investment opportunity as the stock is expected to appreciate in the future. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Rocky Brands. More…
| Total Revenues | Net Income | Net Margin |
| 496.68 | 9.09 | 1.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Rocky Brands. More…
| Operations | Investing | Financing |
| 26.13 | -1.23 | -18.08 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Rocky Brands. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 534.51 | 323.78 | 28.65 |
Key Ratios Snapshot
Some of the financial key ratios for Rocky Brands are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.0% | 20.1% | 6.4% |
| FCF Margin | ROE | ROA |
| 4.1% | 9.3% | 3.7% |
Peers
The company operates in two segments, Wholesale and Direct to Consumer. It offers boots, shoes, and apparel for men, women, and children under the Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation, and licensed Michelin brands. The company also provides footwear for uniformed personnel and civilians under the Original S.W.A.T., Tactical Research by Belleville, and Chippewa brands. In addition, it offers work, western, and hunting footwear for men and women under the Georgia Giant, GeorgiaRomero, Durango, Lehigh, and L.B. Evans brands; and markets footwear for children under the Little Giant brand. Further, the company provides footwear for military, law enforcement, and fire and rescue professionals under the Original S.W.A.T., Tactical Research by Belleville, Chippewa, and Michelin brands. Additionally, it offers licensed products, including T-shirts, hats, belts, wallets, and key chains, as well as outerwear and footwear. The company sells its products through its wholesale customers to department, specialty, and independent stores in the United States; and through company-owned stores and direct mail catalogs, as well as its Website in the United States and Canada. Rocky Brands Inc was founded in 1932 and is headquartered in Nelsonville, Ohio. Some of Rocky Brands Inc’s competitors include Deckers Outdoor Corp, C Banner International Holdings Ltd, and Puma SE.
– Deckers Outdoor Corp ($NYSE:DECK)
Deckers Outdoor Corp is a footwear company that designs, manufactures, and markets footwear and apparel for casual lifestyle use and high performance activities. The company’s products are sold under a portfolio of brands, including UGG®, Koolaburra®, Hoka One One®, Teva®, and Sanuk®. As of 2022, Deckers Outdoor Corp has a market cap of 8.73B and a Return on Equity of 23.76%. The company’s products are available in more than 100 countries worldwide.
– C Banner International Holdings Ltd ($SEHK:01028)
Banner International Holdings Ltd. is a Hong Kong-based company principally engaged in property development, investment and management. The Company’s projects portfolio includes residential, office, retail and hotel properties. It also operates self-storage business. The Company operates its businesses in Hong Kong, Mainland China and Macau.
– Puma SE ($OTCPK:PUMSY)
Puma SE is a German multinational corporation that designs and manufactures athletic and casual footwear, apparel, and accessories, headquartered in Herzogenaurach, Bavaria, Germany. The company was founded in 1948 by Rudolf Dassler. In 1924, Rudolf and his brother Adolf Dassler had jointly formed the company Gebrüder Dassler Schuhfabrik. The relationship between the two brothers deteriorated until the two agreed to split in 1948, forming two separate entities, Adidas and Puma. Both companies are currently based in Herzogenaurach, Germany.
Puma has a market capitalization of 6.91 billion as of 2022 and a return on equity of 17.11%. The company designs and manufactures athletic and casual footwear, apparel, and accessories for men, women, and children.
Summary
ROCKY BRANDS reported second quarter financials ending on June 30th 2023, showing a total revenue of USD 99.8 million and net income of USD -2.7 million. Compared to the same period a year earlier, this represents a decrease of USD 0.9 million and a 38.4% decrease year over year. Despite the fall in net income, the stock price moved up on the same day.
Investors should monitor future performance in order to have a clear understanding of the financial health of the company. If the earnings declines persist for another quarter or two, caution should be exercised in making any investments decisions in this company.
Related Posts
Recent Posts
