What is Rocky Brands, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Rocky Brands, Inc.'s reported free cash flow gives $19.44 per share. The share price was $53.54 on November 10, 2026, 175% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 6.5% | 10.0% | $6.32 | -88% |
| Base | 11.5% | 9.0% | $19.44 | -64% |
| Bull | 16.5% | 8.0% | $45.59 | -15% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $29.43 | $32.51 | $36.29 | $41.00 | $47.06 |
| 8.0% | $21.95 | $23.95 | $26.31 | $29.15 | $32.62 |
| 9.0% | $16.49 | $17.86 | $19.44 | $21.28 | $23.46 |
| 10.0% | $12.35 | $13.33 | $14.43 | $15.69 | $17.14 |
| 11.0% | $9.11 | $9.82 | $10.62 | $11.51 | $12.53 |
Where the presets come from
Base: years 1 to 5 grow at Rocky Brands, Inc.'s revenue growth rate over the last 5 fiscal years (11.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions