Does ROCKY BRANDS, INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores ROCKY BRANDS, INC. (RCKY) 37.2 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 57, returns on capital 23, balance-sheet safety 24, capital discipline 42.

Is RCKY stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $49.31 per share versus a recent price of $40.94 — 17% below value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has RCKY's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 37.2 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

ROCKY BRANDS, INC.

RCKY · Materials · $307.3M mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power57

Median gross margin 37.2% over 10y, stable.

Returns on capital23

Median ROIC 7.8%, above the 9% hurdle in 30% of years.

Balance-sheet safety24

Net debt/EBITDA 2.5x, interest coverage 4x.

Capital discipline42

Owner earnings trend unclear, share count growing (dilution).

Margin of safety

Above valueOn sale

17% below value

Owner earnings (normalized): $20.6M
Est. intrinsic value / share: $49.31
Recent price: $40.94
Discount to value: 17% below value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Fundamentals

There's no normalized fundamentals series for RCKY yet — it appears once ingest has processed its filings.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale37.2 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — RCKY has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Materials context

#113 of 214 scored Materials companies, ranked by Moat Score.

Nearest peers by Moat Score

#111PURE PURE Bioscience, Inc.38.1 out of 100, No moatNo moat
#112MLKN MillerKnoll, Inc.37.8 out of 100, No moatNo moat
#114VHI VALHI, INC.37.1 out of 100, No moatNo moat
#115SWIM Latham Group, Inc.37.0 out of 100, No moatNo moat

Compare RCKY with its nearest peers →All Materials companies on the Index →

Common questions about RCKY

Does ROCKY BRANDS, INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores ROCKY BRANDS, INC. (RCKY) 37.2 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 57, returns on capital 23, balance-sheet safety 24, capital discipline 42.
Is RCKY stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $49.31 per share versus a recent price of $40.94 — 17% below value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has RCKY's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 37.2 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell RCKY. See the disclaimer.