Is Rocky Brands, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Rocky Brands, Inc. has moved from very attractive to fair. Based on the current metrics, the company appears to be fairly valued. The P/E ratio stands at 13, the Price to Book Value is 0.74, and the EV to EBITDA is 7.22, indicating that the stock is reasonably priced compared to its earnings and asset value.
In comparison to its peers, Weyco Group, Inc. has a lower P/E of 11.25 and an EV to EBITDA of 6.15, while Superior Group of Cos., Inc. shows a significantly higher P/E of 23.59 and an EV to EBITDA of 10.01, highlighting the varied valuation landscape within the industry. Notably, Rocky Brands, Inc. has outperformed the S&P 500 on a year-to-date basis, with a return of 18.68% compared to the index's 13.30%. However, the longer-term performance reflects challenges, as the stock has underperformed over the past year and five years.