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Rocky Brands (RCKY) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Rocky Brands (RCKY) Q3 2026 earnings results →

Q3 2026 Revenue up 13% year over year to $139M · 9¢ of every $1 of revenue kept as net profit · operating margin 13.1%

Rocky Brands made $139M in Q3 2026 (+13% Y/Y): Wholesale $99.6M, Retail $35.4M, Contract Manufacturing $3.8M. Operating margin 13.1%, net earnings $12.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.

Revenue$139M
Year over year+13%
Operating margin13.1%
Net earnings$12.8M
Operating cash flow$8.5M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $138.8M in Q3 2026, up 13% year over year and up 17% from the previous quarter. Wholesale was the largest line at 72% of revenue. Wholesale added $10.5M year over year (up 12%), 65% of the total change. Contract Manufacturing declined 3%.

Gross margin was 45.0%, up 4.8 points from Q3 2025. Operating profit was $18.2M, a 13.1% margin (up 3.5 points year over year). Of the extra revenue versus Q3 2025, 40% reached operating profit, above the 10% margin then. Operating expenses grew 18% against revenue growth of 13%. Net earnings were $12.8M, up 78% year over year. The effective tax rate was 21.5%.

Operating cash flow was $8.5M, 66% of net earnings. Non-cash charges added back $2.4M of depreciation and amortization and $459K of share-based compensation. Working capital and other items used $7.2M. Capital expenditures of $2.2M left free cash flow of $6.3M.

Quarterly history

Rocky Brands revenue by quarterRocky Brands revenue by quarter$114MQ1 2025$106MQ2 2025$123MQ3 2025$140MQ4 2025$124MQ1 2026$118MQ2 2026$139MQ3 2026
Rocky Brands net earnings by quarterRocky Brands net earnings by quarter$4.9MQ1 2025$3.6MQ2 2025$7.2MQ3 2025$6.5MQ4 2025$1.3MQ1 2026$13.9MQ2 2026$12.8MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 3, 2026$139M+13%13.1%$12.8M$8.5M
Q2 202610-QAug 4, 2026$118M+12%16.6%$13.9M$7.8M
Q1 202610-QMay 5, 2026$124M+9%2.9%$1.3M$1.9M
Q4 202510-KMar 11, 2026$140M+9%6.9%$6.5M$17.6M
Q3 202510-QNov 6, 2025$123M+7%9.6%$7.2M−$3.3M
Q2 202510-QAug 7, 2025$106M+8%6.8%$3.6M$812K
Q1 202510-QMay 8, 2025$114M+1%7.6%$4.9M$1.2M

Charts

Rocky Brands: revenue growth, year over year and quarter over quarterRocky Brands: revenue growth, year over year and quarter over quarterY/YQ/Q+1%Q1 2025+8%-7%Q2 2025+7%+16%Q3 2025+9%+14%Q4 2025+9%-11%Q1 2026+12%-5%Q2 2026+13%+17%Q3 2026
Latest (Q3 2026): Y/Y +13%, Q/Q +17%.
Rocky Brands: where the cash came from (+) and went (−), TTM to Q3 2026Rocky Brands: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$35.8MNet borrowing (+) / repaid (−)−$23.5MCapital spending−$7.9MDividends−$4.9MBuybacks−$2.0MShares issued$1.5MCash drawn (+) / kept (−)$1.0MOther investing$372KOther financing−$318K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Rocky Brands: profit against cash, quarter by quarterRocky Brands: profit against cash, quarter by quarterNet incomeOperating cash flow$4.8M$24.4MQ4 2024$4.9M$1.2MQ1 2025$3.6M$812KQ2 2025$7.2M−$3.3MQ3 2025$6.5M$17.6MQ4 2025$1.3M$1.9MQ1 2026$13.9M$7.8MQ2 2026$12.8M$8.5MQ3 2026
Latest (Q3 2026): Net income $12.8M, Operating cash flow $8.5M.
Rocky Brands: diluted shares by fiscal yearRocky Brands: diluted shares by fiscal year7MFY20207MFY20217MFY20227MFY20237MFY20248MFY2025
+2.6% since FY2020: more shares outstanding (issuance, stock pay).
Rocky Brands: long-term debt falling due (FY2025)Rocky Brands: long-term debt falling due (FY2025)$8.4M2026$8.4M2027$8.4M2028$99.3M2029
Cash $2.9M, short-term investments —, long-term debt $123M at 2025-12-31.
Rocky Brands in its industry: growth against margin (4 companies, SIC 3140)Rocky Brands in its industry: growth against margin (4 companies, SIC 3140)revenue growth, year over year →↑ operating marginmedian +13%median 11%SHOOCALWWWRCKY (+13%, 13%)
Footwear, (No Rubber); dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Rocky Brands

All references to "we," "us," "our," "Rocky Brands," or the "Company" in this Annual Report on Form 10-K mean Rocky Brands, Inc. and our subsidiaries. We are a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names, including The Original Muck Boot Company ("Muck"), XTRATUF, Rocky, Durango, Georgia Boot, Lehigh CustomFit ("Lehigh"), Ranger, and the licensed brand Michelin. Our brands have a long history of representing high quality, comfortable, functional, and durable footwear and our products are organized around six target markets: work, outdoor, western, commercial military, duty, and military. Our footwear products incorporate varying features and are positioned across a range of suggested retail price points from $45.00 for our value priced products to $680.00 for our premium products.

In its own words, from its 10-K, filed Mar 11, 2026.

Rocky Brands against its Footwear, (No Rubber) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +13% against the peers' median +13%. Operating margin: 13.1% against the peers' median 11.2%.

CompanyQuarterRevenueY/YOp. margin
RCKY Rocky BrandsQ3 2026$139M+13%13.1%
SHOO Steven MaddenQ3 2026$773M+16%9.5%
CAL CaleresQ2 FY27$695M+6%11.2%
WWW Wolverine World WideQ2 2026$506M+7%9.3%

Source: Rocky Brands 10-Q on SEC EDGAR · CIK 895456 · Footwear, (No Rubber)

Guidance and outlook

Rocky Brands: what its forward-looking statements are about (10-Q filed 2026-11-03)Rocky Brands: what its forward-looking statements are about (10-Q filed 2026-11-03)Costs1Margins1Capital spending1
3 statements; tone -0.33 (−1 all cautious, +1 all confident); 0 hedged.
Rocky Brands: outlook statements against the filing beforeRocky Brands: outlook statements against the filing beforeCautious1

13F: who owns RCKY and who is buying

Largest holders of RCKY (13F)Largest holders of RCKY (13F)Alliancebernstein L.P.$25.1MBlackRock$21.6MDimensional Fund Advisors LP$21.2MRaymond James Financial$21.0MVanguard Capital Management LLC$13.2MVanguard Group$12.4MAmerican Century Companies$9.7MGeode Capital Management, LLC$7.9MAristides Capital LLC$7.7MRussell Investments Group$6.6M
Funds' net buying of RCKY by quarter (13F)Funds' net buying of RCKY by quarter (13F)−$1.4M2024-09$1.3M2024-12−$15K2025-03$954K2025-06−$4.9M2025-09$5.9M2025-12$8.7M2026-03$4.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on RCKY

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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