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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) and ROCKY BRANDS, INC. (RCKY). Click either name above to swap in a different company.
INSTEEL INDUSTRIES INC is the larger business by last-quarter revenue ($159.9M vs $139.7M, roughly 1.1× ROCKY BRANDS, INC.). INSTEEL INDUSTRIES INC runs the higher net margin — 4.7% vs 4.7%, a 0.1% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 9.1%). ROCKY BRANDS, INC. produced more free cash flow last quarter ($16.7M vs $-2.2M). Over the past eight quarters, INSTEEL INDUSTRIES INC's revenue compounded faster (12.0% CAGR vs 11.2%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
Rocky Brands, Inc., formerly known as Rocky Shoes & Boots, Inc., is a company which designs, develops, manufactures, and markets outdoor, work, western and military footwear, and other outdoor and work apparel and accessories. The company was founded in 1932 in Nelsonville, Ohio, and still maintains its corporate headquarters there.
IIIN vs RCKY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $139.7M |
| Net Profit | $7.6M | $6.5M |
| Gross Margin | 11.3% | 41.3% |
| Operating Margin | 6.0% | 6.9% |
| Net Margin | 4.7% | 4.7% |
| Revenue YoY | 23.3% | 9.1% |
| Net Profit YoY | 602.4% | 35.7% |
| EPS (diluted) | $0.39 | $0.86 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $159.9M | $139.7M | ||
| Q3 25 | $177.4M | $122.5M | ||
| Q2 25 | $179.9M | $105.6M | ||
| Q1 25 | $160.7M | $114.1M | ||
| Q4 24 | $129.7M | $128.1M | ||
| Q3 24 | $134.3M | $114.6M | ||
| Q2 24 | $145.8M | $98.3M | ||
| Q1 24 | $127.4M | $112.9M |
| Q4 25 | $7.6M | $6.5M | ||
| Q3 25 | $14.6M | $7.2M | ||
| Q2 25 | $15.2M | $3.6M | ||
| Q1 25 | $10.2M | $4.9M | ||
| Q4 24 | $1.1M | $4.8M | ||
| Q3 24 | $4.7M | $5.3M | ||
| Q2 24 | $6.6M | $-1.2M | ||
| Q1 24 | $6.9M | $2.5M |
| Q4 25 | 11.3% | 41.3% | ||
| Q3 25 | 16.1% | 40.2% | ||
| Q2 25 | 17.1% | 41.0% | ||
| Q1 25 | 15.3% | 41.2% | ||
| Q4 24 | 7.3% | 41.5% | ||
| Q3 24 | 9.1% | 38.1% | ||
| Q2 24 | 10.6% | 38.7% | ||
| Q1 24 | 12.3% | 39.1% |
| Q4 25 | 6.0% | 6.9% | ||
| Q3 25 | 10.8% | 9.6% | ||
| Q2 25 | 11.0% | 6.8% | ||
| Q1 25 | 8.3% | 7.6% | ||
| Q4 24 | 1.1% | 6.6% | ||
| Q3 24 | 4.5% | 8.8% | ||
| Q2 24 | 6.0% | 4.6% | ||
| Q1 24 | 7.0% | 7.1% |
| Q4 25 | 4.7% | 4.7% | ||
| Q3 25 | 8.2% | 5.9% | ||
| Q2 25 | 8.4% | 3.4% | ||
| Q1 25 | 6.4% | 4.3% | ||
| Q4 24 | 0.8% | 3.7% | ||
| Q3 24 | 3.5% | 4.6% | ||
| Q2 24 | 4.5% | -1.3% | ||
| Q1 24 | 5.4% | 2.3% |
| Q4 25 | $0.39 | $0.86 | ||
| Q3 25 | $0.74 | $0.96 | ||
| Q2 25 | $0.78 | $0.48 | ||
| Q1 25 | $0.52 | $0.66 | ||
| Q4 24 | $0.06 | $0.65 | ||
| Q3 24 | $0.24 | $0.70 | ||
| Q2 24 | $0.34 | $-0.17 | ||
| Q1 24 | $0.35 | $0.34 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $15.6M | $2.9M |
| Total DebtLower is stronger | — | $122.6M |
| Stockholders' EquityBook value | $358.8M | $252.1M |
| Total Assets | $456.1M | $477.5M |
| Debt / EquityLower = less leverage | — | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $2.9M | ||
| Q3 25 | $38.6M | $3.3M | ||
| Q2 25 | $53.7M | $2.8M | ||
| Q1 25 | $28.4M | $2.6M | ||
| Q4 24 | $36.0M | $3.7M | ||
| Q3 24 | $111.5M | $3.7M | ||
| Q2 24 | $97.7M | $4.1M | ||
| Q1 24 | $83.9M | $3.1M |
| Q4 25 | — | $122.6M | ||
| Q3 25 | — | $139.0M | ||
| Q2 25 | — | $132.5M | ||
| Q1 25 | — | $128.6M | ||
| Q4 24 | — | $128.7M | ||
| Q3 24 | — | $150.3M | ||
| Q2 24 | — | $152.4M | ||
| Q1 24 | — | $156.0M |
| Q4 25 | $358.8M | $252.1M | ||
| Q3 25 | $371.5M | $246.1M | ||
| Q2 25 | $356.2M | $239.1M | ||
| Q1 25 | $341.4M | $236.2M | ||
| Q4 24 | $331.6M | $232.2M | ||
| Q3 24 | $350.9M | $228.3M | ||
| Q2 24 | $346.0M | $223.8M | ||
| Q1 24 | $340.6M | $225.3M |
| Q4 25 | $456.1M | $477.5M | ||
| Q3 25 | $462.6M | $494.0M | ||
| Q2 25 | $471.9M | $471.0M | ||
| Q1 25 | $421.9M | $468.2M | ||
| Q4 24 | $404.7M | $457.3M | ||
| Q3 24 | $422.6M | $475.0M | ||
| Q2 24 | $414.6M | $467.9M | ||
| Q1 24 | $397.2M | $466.5M |
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 0.55× | ||
| Q1 25 | — | 0.54× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | 0.69× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-701.0K | $17.6M |
| Free Cash FlowOCF − Capex | $-2.2M | $16.7M |
| FCF MarginFCF / Revenue | -1.4% | 12.0% |
| Capex IntensityCapex / Revenue | 0.9% | 0.6% |
| Cash ConversionOCF / Net Profit | -0.09× | 2.70× |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $9.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $17.6M | ||
| Q3 25 | $-17.0M | $-3.3M | ||
| Q2 25 | $28.5M | $812.0K | ||
| Q1 25 | $-3.3M | $1.2M | ||
| Q4 24 | $19.0M | $24.4M | ||
| Q3 24 | $16.2M | $4.5M | ||
| Q2 24 | $18.8M | $6.5M | ||
| Q1 24 | $1.4M | $17.4M |
| Q4 25 | $-2.2M | $16.7M | ||
| Q3 25 | $-18.7M | $-5.2M | ||
| Q2 25 | $26.9M | $-2.4M | ||
| Q1 25 | $-5.5M | $529.0K | ||
| Q4 24 | $16.3M | $22.9M | ||
| Q3 24 | $14.5M | $3.5M | ||
| Q2 24 | $15.5M | $4.6M | ||
| Q1 24 | $-580.0K | $17.1M |
| Q4 25 | -1.4% | 12.0% | ||
| Q3 25 | -10.6% | -4.2% | ||
| Q2 25 | 15.0% | -2.2% | ||
| Q1 25 | -3.5% | 0.5% | ||
| Q4 24 | 12.6% | 17.9% | ||
| Q3 24 | 10.8% | 3.0% | ||
| Q2 24 | 10.7% | 4.7% | ||
| Q1 24 | -0.5% | 15.2% |
| Q4 25 | 0.9% | 0.6% | ||
| Q3 25 | 1.0% | 1.5% | ||
| Q2 25 | 0.9% | 3.0% | ||
| Q1 25 | 1.4% | 0.6% | ||
| Q4 24 | 2.1% | 1.2% | ||
| Q3 24 | 1.3% | 0.9% | ||
| Q2 24 | 2.2% | 1.9% | ||
| Q1 24 | 1.5% | 0.2% |
| Q4 25 | -0.09× | 2.70× | ||
| Q3 25 | -1.17× | -0.46× | ||
| Q2 25 | 1.88× | 0.23× | ||
| Q1 25 | -0.32× | 0.25× | ||
| Q4 24 | 17.56× | 5.08× | ||
| Q3 24 | 3.48× | 0.85× | ||
| Q2 24 | 2.86× | — | ||
| Q1 24 | 0.20× | 6.82× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
RCKY
| Wholesale | $79.6M | 57% |
| Retail1 | $57.0M | 41% |
| Contract Manufacturing | $3.2M | 2% |
