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. The company appears to be fairly valued based on its current metrics. Key ratios include a P/E ratio of 13, a Price to Book Value of 0.74, and an EV to EBITDA of 7.22, which suggest that the stock is trading at reasonable levels compared to its earnings and asset value.
In comparison to peers, Weyco Group, Inc. has a more attractive P/E ratio of 11.25, while Superior Group of Cos., Inc. is significantly higher at 23.59, indicating that Rocky Brands is positioned in the mid-range among its competitors. Notably, Rocky Brands has underperformed against the S&P 500 over the past year, with a return of -9.98% compared to the index's 14.08%, and over three years, it has gained 43.55% versus the S&P's 81.19%.