Is Rocky Brands, Inc. overvalued or undervalued?

As of 20 June 2025, the valuation grade for Rocky Brands, Inc. has moved from very expensive to expensive. The company appears to be overvalued based on its current metrics. Key ratios include a P/E ratio of 13, an EV to EBITDA of 7.22, and a Price to Book Value of 0.74. Compared to peers, Wolverine World Wide, Inc. has a significantly higher P/E ratio of 34.40, while Weyco Group, Inc. shows a more favorable EV to EBITDA of 5.75.
Rocky Brands, Inc. has underperformed relative to the S&P 500, particularly over the past year, where it has seen a decline of 40.08% compared to the index's gain of 10.26%. This further supports the conclusion that the stock is overvalued in its current state.