Rocky Mountain Chocolate Factory, Inc. RMCF
Rocky Mountain Chocolate Factory, Inc., a Delaware corporation, and its subsidiaries, including its operating subsidiary with the same name, Rocky Mountain Chocolate Factory, Inc., a Colorado corporation ("RMCF") (referred to as the "Company", "Rocky Mountain Chocolate Factory," "we," "us," or "our"), is an international franchisor, confectionery producer and retail operator. Founded in 1981, and headquartered in Durango, Colorado, we produce an extensive line of premium chocolate and other confectionery products. Our revenues and profitability are derived principally from our franchised and licensed system of retail stores that feature chocolate and other confectionery products including gourmet caramel apples. We also sell our confectionery products through select locations outside of our system of retail stores and may license the use of our brand with certain consumer products. As of February 28, 2026, we operated three Company-owned and had 111 licensee-owned and 139 Rocky Mountain Chocolate Factory franchised stores spread across 34 states and the Philippines.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27.5M | $29.6M | $28.0M | $30.4M | $29.5M | $21.8M | $31.8M | $34.5M | $38.1M | $38.3M |
| Cost of revenue | $20.6M | $23.9M | $20.7M | $20.5M | $18.6M | $15.8M | $18.2M | $20.6M | $21.2M | $20.7M |
| Gross profit | $6.9M | $5.7M | $7.3M | $4.0M | $4.9M | $3.1M | $6.5M | $7.0M | $9.0M | $9.1M |
| SG&A | $5.4M | $6.3M | $6.7M | $10.3M | $7.5M | $4.9M | $5.7M | $3.4M | $3.9M | $4.0M |
| Total operating expenses | $1.8M | $2.2M | $2.7M | $35.3M | $30.2M | $24.5M | $30.5M | $31.5M | $32.9M | $32.8M |
| Operating income | -$3.6M | -$5.9M | -$4.9M | -$4.9M | -$694.5K | -$2.7M | $1.4M | $3.0M | $5.2M | $5.5M |
| Interest expense | $840.0K | $454.0K | $53.0K | $10.4K | $0 | $93.9K | $19.0K | $70.8K | $121.2K | $170.4K |
| Pre-tax income | -$4.4M | -$6.1M | -$4.9M | -$4.9M | -$516.5K | -$1.2M | $1.4M | $3.0M | $5.1M | $5.4M |
| Income tax | $187.0K | $0 | $0 | $613.8K | $16.8K | $745.5K | $368.5K | $716.9K | $2.2M | $1.9M |
| Net income | -$4.6K | -$6.1K | -$4.7K | -$5.7M | -$341.7K | -$899.8K | $1.0M | $2.2M | $3.0M | $3.5M |
| EPS, basic | -0.56 | -0.86 | -0.66 | -0.91 | -0.06 | -0.15 | 0.17 | 0.38 | 0.50 | 0.59 |
| EPS, diluted | -0.56 | -0.86 | -0.66 | -0.91 | -0.06 | -0.15 | 0.17 | 0.37 | 0.50 | 0.58 |
| Shares, diluted (wtd. avg.) | $8.1M | $7.1M | $6.3M | $6.2M | $6.1M | $6.1M | $6.3M | $6.0M | $6.0M | $6.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.2M | $720.0K | $2.1M | $4.7M | $7.6M | $5.6M | $4.8M | $5.4M | $6.1M | $5.8M |
| Receivables | $2.5M | $3.4M | $2.2M | $2.1M | $1.9M | $2.0M | $4.0M | $4.0M | $3.9M | $3.9M |
| Inventory | $4.1M | $4.6M | $4.4M | $3.6M | $4.3M | $4.1M | $3.8M | $4.3M | $4.8M | $5.0M |
| Total current assets | $8.8M | $9.2M | $9.6M | $11.2M | $15.0M | $12.8M | $13.6M | $14.3M | $15.6M | $15.2M |
| Property, plant and equipment | $8.8M | $9.4M | $7.8M | $5.7M | $5.5M | $5.2M | $5.9M | $5.8M | $6.2M | $6.5M |
| Goodwill | $576.0K | $576.0K | $576.0K | $575.6K | $729.7K | $729.7K | $1.0M | $1.0M | $1.0M | $1.0M |
| Other intangibles | $733.0K | $210.0K | $237.9K | $265.9K | $2.4M | $2.9M | $3.5M | $498.3K | $587.4K | $632.2K |
| Total assets | $20.2M | $21.2M | $20.6M | $22.0M | $26.9M | $25.0M | $27.8M | $26.2M | $28.9M | $29.4M |
| Accounts payable | $5.1M | $4.8M | $3.4M | $2.2M | $1.5M | $1.3M | $2.2M | $897.1K | $1.6M | $1.8M |
| Short-term debt | — | — | — | — | — | — | — | $1.2M | $1.4M | $1.3M |
| Total current liabilities | $6.8M | $6.9M | $8.1M | $5.0M | $5.3M | $3.8M | $5.6M | $4.7M | $8.2M | $8.1M |
| Long-term debt | — | — | — | — | — | — | — | — | $1.2M | $2.5M |
| Total liabilities | $15.0M | $14.2M | $9.9M | $7.6M | — | — | — | — | — | — |
| Retained earnings | -$9.9M | -$5.4M | $734.0K | $4.9M | $10.6M | $11.0M | $11.9M | $13.7M | $13.4M | $13.3M |
| Total equity | $5.2M | $7.0M | $10.6M | $14.4M | $19.4M | $19.0M | $19.4M | $20.4M | $19.6M | $18.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.8M | -$6.6M | -$2.4M | -$2.1M | $2.9M | $67.3K | $4.5M | $4.0M | $4.8M | $5.3M |
| Depreciation and amortisation | $1.4M | $950.0K | $887.0K | $765.3K | $740.2K | $778.4K | $1.5M | $1.7M | $1.3M | $1.3M |
| Stock-based compensation | — | — | — | — | — | — | $809.1K | $519.8K | $591.8K | $584.9K |
| Capital expenditure | $569.0K | $3.8M | $3.0M | $1.0M | $941.3K | $149.5K | $983.9K | $613.8K | $545.0K | $1.2M |
| Investing cash flow | -$764.0K | -$1.7M | -$1.4M | -$767.8K | -$605.0K | -$71.0K | -$911.4K | -$506.2K | -$339.5K | -$1.3M |
| Financing cash flow | $3.1M | $6.9M | $1.2M | $0 | -$299.1K | $814.9K | -$4.1M | -$4.2M | -$4.1M | -$4.4M |
| Dividends paid | — | — | $0 | $0 | $61.3K | $722.3K | $2.9M | $2.8M | $2.8M | $2.8M |
| Buybacks | — | — | $0 | $0 | $237.8K | $0 | $57.0K | — | — | $351.6K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-073216.
Others in SIC 2060
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| TR | TOOTSIE ROLL INDUSTRIES INC | $2.91B | — | 1.3% |
| JBSS | SANFILIPPO JOHN B & SON INC | $847.3M | 13.8x | 6.2% |
| HSY | HERSHEY CO | — | — | 4.4% |