Revenue remains stagnant at $68.0M for 2026Q1, while gross margins have exhibited significant volatility, contracting from a 50.3% peak in 2023Q4 to 44.2% in the most recent quarter.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 276.14M | 276.17M | 290.29M | 318.05M | 351.74M | 267.64M | 195.38M | 304.01M | 298.38M | 283.75M | 296.93M | 320.62M | 320.49M | 300.28M | 293.47M | 271.1M | 229.23M | 225.31M | 221.43M | 232.62M | 221.05M | 209.47M | 223.01M | 215.76M | 181.2M | 131.69M | 148.16M | 133.5M | 127.1M | 127M | 129.3M |
| Revenue Growth % | -3.7% | -4.86% | -8.73% | -9.58% | 31.42% | 36.99% | -35.73% | 1.89% | 5.15% | -4.44% | -7.39% | 0.04% | 6.73% | 2.32% | 8.25% | 18.27% | 1.74% | 1.75% | -4.81% | 5.23% | 5.53% | -6.07% | 3.36% | 19.07% | 37.59% | -11.11% | 10.98% | 5.04% | 0.08% | -1.78% | 7.21% |
| Cost of Goods Sold | 157.22M | 156.94M | 158.76M | 175.16M | 207.34M | 160.19M | 116.82M | 180.05M | 178.29M | 173.06M | 184.89M | 199.01M | 197.42M | 182.97M | 178.58M | 164.38M | 138.93M | 140.83M | 140.29M | 143.2M | 135.73M | 132.73M | 140.02M | 139.32M | 122.06M | 94.11M | 106.11M | 94.5M | 90.3M | 90.9M | 93.5M |
| COGS % of Revenue | - | 56.83% | 54.69% | 55.07% | 58.95% | 59.85% | 59.79% | 59.22% | 59.76% | 60.99% | 62.27% | 62.07% | 61.6% | 60.93% | 60.85% | 60.63% | 60.61% | 62.51% | 63.36% | 61.56% | 61.41% | 63.36% | 62.78% | 64.57% | 67.36% | 71.46% | 71.62% | 70.79% | 71.05% | 71.57% | 72.31% |
| Gross Profit | 118.92M | 119.23M | 131.53M | 142.88M | 144.39M | 107.45M | 78.56M | 123.96M | 120.08M | 110.69M | 112.04M | 121.61M | 123.07M | 117.31M | 114.89M | 106.72M | 90.3M | 84.48M | 81.14M | 89.42M | 85.31M | 76.74M | 83M | 76.45M | 59.14M | 37.59M | 42.05M | 39M | 36.8M | 36.1M | 35.8M |
| Gross Margin % | 43.06% | 43.17% | 45.31% | 44.92% | 41.05% | 40.15% | 40.21% | 40.78% | 40.24% | 39.01% | 37.73% | 37.93% | 38.4% | 39.07% | 39.15% | 39.37% | 39.39% | 37.49% | 36.64% | 38.44% | 38.59% | 36.64% | 37.22% | 35.43% | 32.64% | 28.54% | 28.38% | 29.21% | 28.95% | 28.43% | 27.69% |
| Gross Profit Growth % | - | -9.35% | -7.95% | -1.05% | 34.39% | 36.77% | -36.63% | 3.23% | 8.48% | -1.2% | -7.87% | -1.19% | 4.91% | 2.11% | 7.65% | 18.19% | 6.89% | 4.11% | -9.26% | 4.81% | 11.17% | -7.53% | 8.57% | 29.27% | 57.34% | -10.61% | 7.81% | 5.98% | 1.94% | 0.84% | 6.55% |
| Operating Expenses | 89.27M | 90.06M | 94.91M | 101.86M | 104.03M | 81.75M | 86.16M | 96.92M | 94.62M | 87.28M | 90.81M | 91.82M | 92.41M | 89.56M | 85.09M | 83.53M | 71.52M | 67.7M | 56.64M | 55.29M | 51.87M | 46.06M | 50.04M | 49.18M | 37.73M | 24.23M | 26.08M | 23.7M | 22.9M | 23.5M | 24.2M |
| OpEx % of Revenue | - | 32.61% | 32.7% | 32.03% | 29.58% | 30.54% | 44.1% | 31.88% | 31.71% | 30.76% | 30.58% | 28.64% | 28.83% | 29.82% | 28.99% | 30.81% | 31.2% | 30.05% | 25.58% | 23.77% | 23.46% | 21.99% | 22.44% | 22.8% | 20.82% | 18.4% | 17.6% | 17.75% | 18.02% | 18.5% | 18.72% |
| Selling, General & Admin | 89.27M | 90.06M | 94.91M | 101.86M | 104.03M | 81.75M | 86.16M | 96.92M | 94.5M | 87.71M | 87.38M | 90.22M | 92.41M | 89.56M | 85.09M | 83.53M | 71.52M | 67.7M | 56.64M | 55.29M | 51.87M | 46.06M | 50.04M | 49.18M | 37.73M | 24.23M | 24.59M | 22.5M | 22.3M | 22.7M | 23.2M |
| SG&A % of Revenue | - | 32.61% | 32.7% | 32.03% | 29.58% | 30.54% | 44.1% | 31.88% | 31.67% | 30.91% | 29.43% | 28.14% | 28.83% | 29.82% | 28.99% | 30.81% | 31.2% | 30.05% | 25.58% | 23.77% | 23.46% | 21.99% | 22.44% | 22.8% | 20.82% | 18.4% | 16.59% | 16.85% | 17.55% | 17.87% | 17.94% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -535K | -638K | -248K | 514K | -1.43M | -595K | -653K | -144K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.49M | 1.2M | 600K | 800K | 1M |
| Operating Income | 29.64M | 29.17M | 36.61M | 41.02M | 40.37M | 25.7M | -7.6M | 27.04M | 25.46M | 23.41M | 21.24M | 29.79M | 30.66M | 27.75M | 29.8M | 23.2M | 18.78M | 16.78M | 24.5M | 34.13M | 33.44M | 30.68M | 32.95M | 27.26M | 21.41M | 13.35M | 15.97M | 15.3M | 13.9M | 12.6M | 11.6M |
| Operating Margin % | 10.74% | 10.56% | 12.61% | 12.9% | 11.48% | 9.6% | -3.89% | 8.89% | 8.53% | 8.25% | 7.15% | 9.29% | 9.57% | 9.24% | 10.15% | 8.56% | 8.19% | 7.45% | 11.06% | 14.67% | 15.13% | 14.65% | 14.78% | 12.63% | 11.81% | 10.14% | 10.78% | 11.46% | 10.94% | 9.92% | 8.97% |
| Operating Income Growth % | - | -20.33% | -10.75% | 1.63% | 57.05% | 438.27% | -128.1% | 6.21% | 8.74% | 10.25% | -28.7% | -2.84% | 10.46% | -6.85% | 28.45% | 23.51% | 11.92% | -31.51% | -28.22% | 2.06% | 9.01% | -6.9% | 20.88% | 27.35% | 60.29% | -16.39% | 4.39% | 10.07% | 10.32% | 8.62% | 34.88% |
| EBITDA | 32.8M | 32.05M | 39.36M | 43.87M | 43.13M | 28.43M | -4.38M | 30.57M | 29.49M | 27.72M | 25.29M | 33.82M | 34.68M | 31.99M | 33.44M | 26.04M | 21.6M | 19.82M | 27.24M | 36.71M | 35.73M | 32.99M | 35.55M | 29.77M | 23.64M | 14.96M | 17.46M | 16.5M | 14.5M | 13.4M | 12.6M |
| EBITDA Margin % | 11.88% | 11.61% | 13.56% | 13.79% | 12.26% | 10.62% | -2.24% | 10.05% | 9.88% | 9.77% | 8.52% | 10.55% | 10.82% | 10.65% | 11.39% | 9.61% | 9.42% | 8.8% | 12.3% | 15.78% | 16.16% | 15.75% | 15.94% | 13.8% | 13.04% | 11.36% | 11.79% | 12.36% | 11.41% | 10.55% | 9.74% |
| EBITDA Growth % | -13.89% | -18.57% | -10.29% | 1.72% | 51.74% | 748.82% | -114.33% | 3.65% | 6.39% | 9.58% | -25.22% | -2.46% | 8.4% | -4.34% | 28.41% | 20.58% | 8.96% | -27.25% | -25.78% | 2.75% | 8.29% | -7.2% | 19.41% | 25.95% | 57.97% | -14.31% | 5.83% | 13.79% | 8.21% | 6.35% | 29.9% |
| D&A (Non-Cash Add-back) | 2.27M | 2.88M | 2.75M | 2.85M | 2.77M | 2.72M | 3.22M | 3.52M | 4.03M | 4.3M | 4.06M | 4.04M | 4.02M | 4.23M | 3.64M | 2.84M | 2.82M | 3.04M | 2.75M | 2.57M | 2.28M | 2.31M | 2.6M | 2.51M | 2.23M | 1.61M | 1.49M | 1.2M | 600K | 800K | 1M |
| EBIT | 31.26M | 29.17M | 39.85M | 41.39M | 40.45M | 27.43M | -6.97M | 27.33M | 25.8M | 23.94M | 22.51M | 29.3M | 31.24M | 28.56M | 31.49M | 25.63M | 21.42M | 20.04M | 26.49M | 34.13M | 33.44M | 30.68M | 32.95M | 27.26M | 21.41M | 13.35M | 15.97M | 15.3M | 13.9M | 12.6M | 11.6M |
| Net Interest Income | 3.01M | 2.96M | 3.67M | 578K | -349K | 560K | 448K | 579K | 936K | 758K | 327K | 755K | 996K | 1.08M | 1.28M | 1.61M | 2.17M | 1.82M | 1.95M | 1.81M | 1.33M | 697.86K | 22.8K | -846.15K | -436.13K | 725.51K | 479.25K | 0 | -400K | 0 | 0 |
| Interest Income | 3.02M | 2.97M | 3.68M | 1.11M | 361K | 641K | 527K | 823K | 981K | 773K | 763K | 936K | 1.17M | 1.46M | 1.84M | 2.22M | 2.29M | 1.85M | 2.02M | 2.16M | 1.94M | 1.04M | 500.61K | 528.53K | 853.03K | 1.02M | 1.11M | 0 | 0 | 0 | 0 |
| Interest Expense | 5K | 2K | 15K | 529K | 710K | 81K | 79K | 244K | 45K | 15K | 436K | 181K | 178K | 384K | 561K | 611K | 120K | 26K | 62K | 352.9K | 608.45K | 339.67K | 477.81K | 1.37M | 1.29M | 296.18K | 626.96K | 0 | 400K | 0 | 0 |
| Other Income/Expense | 3.19M | 2.86M | 3.22M | -160K | -626K | 1.64M | 544K | 44K | 298K | 510K | -705K | -670K | 401K | 424K | 1.14M | 1.82M | 2.52M | 3.23M | 1.93M | 1.83M | 1.35M | 671.79K | -48.9K | -570.93K | -418.05K | 1.35M | 500.28K | 1.7M | 1.4M | 1.6M | 1.2M |
| Pretax Income | 32.84M | 32.03M | 39.84M | 40.86M | 39.74M | 27.34M | -7.05M | 27.08M | 25.76M | 23.92M | 22.08M | 29.11M | 31.06M | 28.18M | 30.93M | 25.02M | 21.3M | 20.01M | 26.43M | 35.96M | 34.79M | 31.35M | 32.9M | 26.69M | 20.99M | 14.7M | 16.47M | 17M | 15.3M | 14.2M | 12.8M |
| Pretax Margin % | 11.89% | 11.6% | 13.72% | 12.85% | 11.3% | 10.22% | -3.61% | 8.91% | 8.63% | 8.43% | 7.43% | 9.08% | 9.69% | 9.38% | 10.54% | 9.23% | 9.29% | 8.88% | 11.94% | 15.46% | 15.74% | 14.97% | 14.75% | 12.37% | 11.58% | 11.16% | 11.12% | 12.73% | 12.04% | 11.18% | 9.9% |
| Income Tax | 9.18M | 8.95M | 9.52M | 10.68M | 10.2M | 6.79M | 1.43M | 6.2M | 5.8M | 7.22M | 5.08M | 10.96M | 11.23M | 9.93M | 10.53M | 8.58M | 7.17M | 6.94M | 9.41M | 13.06M | 12.94M | 11.95M | 12.63M | 9.55M | 7.8M | 5.2M | 5.85M | 5.9M | 5.5M | 5.1M | 4.7M |
| Effective Tax Rate % | 27.96% | 27.95% | 23.89% | 26.13% | 25.66% | 24.83% | -20.29% | 22.9% | 22.51% | 30.19% | 23.03% | 37.65% | 36.17% | 35.24% | 34.05% | 34.29% | 33.67% | 34.68% | 35.59% | 36.32% | 37.18% | 38.12% | 38.37% | 35.8% | 37.16% | 35.37% | 35.51% | 34.71% | 35.95% | 35.92% | 36.72% |
| Net Income | 23.66M | 23.08M | 30.32M | 30.19M | 29.54M | 20.55M | -8.48M | 20.88M | 20.48M | 16.49M | 16.47M | 18.21M | 19.02M | 17.6M | 18.96M | 15.25M | 13.67M | 12.82M | 17.02M | 22.9M | 21.86M | 19.4M | 20.28M | 17.13M | 13.19M | 9.5M | 10.62M | 11.1M | 9.8M | 9.1M | 8.1M |
| Net Margin % | 8.57% | 8.36% | 10.44% | 9.49% | 8.4% | 7.68% | -4.34% | 6.87% | 6.87% | 5.81% | 5.55% | 5.68% | 5.93% | 5.86% | 6.46% | 5.63% | 5.96% | 5.69% | 7.69% | 9.84% | 9.89% | 9.26% | 9.09% | 7.94% | 7.28% | 7.21% | 7.17% | 8.31% | 7.71% | 7.17% | 6.26% |
| Net Income Growth % | -19.02% | -23.89% | 0.44% | 2.19% | 43.71% | 342.25% | -140.63% | 1.94% | 24.21% | 0.12% | -9.55% | -4.25% | 8.06% | -7.15% | 24.3% | 11.58% | 6.61% | -24.69% | -25.66% | 4.78% | 12.65% | -4.32% | 18.34% | 29.93% | 38.8% | -10.55% | -4.3% | 13.27% | 7.69% | 12.35% | 19.12% |
| Net Income (Continuing) | 23.66M | 23.08M | 30.32M | 30.19M | 29.54M | 20.55M | -8.48M | 20.88M | 19.96M | 16.7M | 16.99M | 18.15M | 19.82M | 18.25M | 20.4M | 16.44M | 14.13M | 13.07M | 17.02M | 22.9M | 21.86M | 19.4M | 20.28M | 17.13M | 13.19M | 9.5M | 10.62M | 11.1M | 9.8M | 9.1M | 8.1M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.12M | 6.69M | 6.34M | 7.02M | 6.83M | 7.22M | 5.4M | 4.7M | 4.05M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 2.49 | 2.41 | 3.16 | 3.17 | 3.07 | 2.12 | -0.87 | 2.10 | 1.97 | 1.60 | 1.56 | 1.68 | 1.75 | 1.62 | 1.73 | 1.37 | 1.19 | 1.11 | 1.45 | 1.91 | 1.81 | 1.62 | 1.72 | 1.46 | 1.15 | 0.82 | 0.86 | 0.85 | 0.69 | 0.63 | 0.55 |
| EPS Growth % | -18.42% | -23.73% | -0.32% | 3.26% | 44.81% | 343.68% | -141.43% | 6.6% | 23.13% | 2.56% | -7.14% | -4% | 8.02% | -6.36% | 26.28% | 15.13% | 7.21% | -23.45% | -24.08% | 5.52% | 11.73% | -5.81% | 17.81% | 26.96% | 40.24% | -4.65% | 1.18% | 23.19% | 9.52% | 14.55% | 37.5% |
| EPS (Basic) | - | 2.44 | 3.21 | 3.19 | 3.09 | 2.13 | -0.87 | 2.11 | 2.01 | 1.61 | 1.57 | 1.69 | 1.76 | 1.63 | 1.75 | 1.38 | 1.21 | 1.14 | 1.49 | 1.98 | 1.88 | 1.68 | 1.78 | 1.51 | 1.17 | 0.83 | 0.87 | 0.86 | 0.70 | 0.63 | 0.55 |
| Diluted Shares Outstanding | 9.51M | 9.56M | 9.6M | 9.54M | 9.62M | 9.69M | 9.76M | 9.95M | 10.39M | 10.31M | 10.57M | 10.86M | 10.89M | 10.87M | 10.95M | 11.16M | 11.49M | 11.51M | 11.76M | 11.99M | 12.07M | 11.98M | 11.79M | 11.78M | 11.5M | 11.59M | 12.3M | 13.06M | 14.2M | 14.52M | 14.75M |
| Basic Shares Outstanding | 9.41M | 9.47M | 9.46M | 9.45M | 9.55M | 9.66M | 9.76M | 9.9M | 10.17M | 10.25M | 10.52M | 10.77M | 10.79M | 10.78M | 10.84M | 11.07M | 11.29M | 11.27M | 11.4M | 11.57M | 11.63M | 11.55M | 11.39M | 11.39M | 11.27M | 11.49M | 12.21M | 12.91M | 13.99M | 14.37M | 14.67M |
| Dividend Payout Ratio | - | 33.5% | 103.12% | 30.76% | 23.53% | 45.46% | - | 45.05% | 44.98% | 53.83% | 52.94% | 46.41% | 42.21% | 22.18% | 57.37% | 46.91% | 51.4% | 51.31% | 33.7% | 20.33% | 17.01% | 14.87% | 11.74% | 12.18% | 14.24% | 18.85% | 16.3% | 15.32% | 16.33% | 15.38% | 17.28% |
Structural retail channel decline
As reported in recent financial filings, Weyco Group's top-line performance remains under pressure, with quarterly revenue figures consistently failing to achieve year-over-year growth, culminating in a stagnant $68.0M for 2026Q1, which highlights the ongoing difficulty in reversing the firm's broader multi-quarter downward revenue trajectory.
The consistent inability to generate positive year-over-year revenue growth suggests that the company's legacy wholesale model is struggling to find a floor in the current retail environment. Investors should monitor whether this trend reflects a permanent shift in consumer preference away from formal footwear or merely a temporary inventory correction within their department store partners.
Based on the provided income statement data, Weyco's gross margin has exhibited notable instability, fluctuating from a high of 50.3% in 2023Q4 down to 40.7% in 2025Q3, indicating that the company's pricing power may be insufficient to fully offset rising procurement costs or promotional retail activity.
The variability in gross margins appears to be a direct consequence of the company's reliance on third-party manufacturing and the high-variable cost structure inherent in its wholesale business. This volatility suggests that Weyco lacks the structural pricing power to maintain consistent margins when faced with shifting demand or supply chain cost pressures.
According to the latest quarterly data, Weyco's operating income has failed to scale efficiently against gross profit, as evidenced by the 2026Q1 operating margin of 11.0% on $30.1M of gross profit, suggesting that fixed SG&A costs are not being adequately leveraged during periods of revenue decline.
The inability to expand operating margins during periods of relative stability implies that the company's cost structure remains heavily weighted toward fixed overheads that do not contract in tandem with sales. This lack of operating leverage warrants further investigation into management's ability to rationalize SG&A expenses in a lower-growth environment.
Analysis of the income statement reveals that stock-based compensation, while relatively modest at $434K in 2026Q1, remains a persistent non-cash expense that slightly dilutes the quality of reported net income, which reached $6.1M for the same period despite the broader top-line stagnation observed across the fiscal year.
While the impact of stock-based compensation is not currently material to the bottom line, its consistent presence suggests that management continues to utilize equity-based incentives despite the lack of top-line growth. Investors should monitor whether these compensation levels remain aligned with shareholder value creation given the company's current revenue contraction.
Based on reported figures, the company's heavy reliance on the North American wholesale channel presents a significant risk, as the -4.86% revenue decline suggests that the structural consolidation of department stores may be permanently impairing Weyco's ability to maintain its historical shelf-space dominance and volume levels.
Short-sellers would likely focus on the potential for further margin compression if the company is forced to increase promotional spending to maintain its presence in struggling retail channels. The lack of a clear pivot to a high-growth DTC strategy suggests that the company may remain trapped in a declining ecosystem, limiting its long-term upside potential.
Quick answers to the most common questions about buying WEYS stock.
For fiscal year 2025, Weyco Group, Inc. (WEYS) reported total revenue of $276.2M. This represents a 113.6% increase compared to $129.3M in 1996.
Weyco Group, Inc. (WEYS) is profitable, generating $23.1M in net income for the fiscal year ending 2025 with a net profit margin of 8.4%.
Weyco Group, Inc. (WEYS) reported an operating income of $29.2M, resulting in an operating profit margin of 10.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Weyco Group, Inc. (WEYS) generated $119.2M in gross profit for the year, representing a gross profit margin of 43.2%. This demonstrates the company's core pricing power and production efficiency.