Duluth Holdings (DLTH) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 7, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2027, filed Sep 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DLTH SEC filings page.
Duluth Holdings (DLTH) reported $554.9M in revenue over the twelve months to Aug 2, 2026, down 10.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Sales contraction is being met with cost restructuring, producing cash-flow recovery before the business returns to profitability.
Cash conversion improved from negative free cash flow in FY2024 to$16.6M in FY2025 even as net income remained negative, indicating noncash charges and working-capital movement are supporting cash generation before earnings recover. This is a change in the operating pattern, not merely a smaller loss.
Gross margin rebounded to
Total assets fell
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Duluth Holdings's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Duluth Holdings has an operating margin of -1.8%, meaning the company loses $2 on every $100 of revenue. This results in a profitability score of 20/100. This is up from -5.9% the prior year.
Duluth Holdings's revenue declined 9.8% year-over-year, from $626.6M to $565.2M. This contraction results in a growth score of 13/100.
Duluth Holdings has a moderate D/E ratio of 1.40. This balance of debt and equity financing earns a leverage score of 40/100.
Duluth Holdings's current ratio of 1.59 indicates adequate short-term liquidity, earning a score of 45/100. The company can meet its near-term obligations, though with limited headroom.
Duluth Holdings's free cash flow margin of 2.9% results in a low score of 25/100. Capital expenditures of $7.6M absorb a large share of operating cash flow.
Duluth Holdings posts a -9.7% return on equity (ROE), meaning it loses $10 for every $100 of shareholders' equity. This results in a returns score of 17/100. This is up from -23.9% the prior year.
Duluth Holdings scores 2.16, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Duluth Holdings passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, both operating efficiency signals pass.
Duluth Holdings reported a net loss of $16.4M while generating $24.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Duluth Holdings reported an operating loss of $10.2M against $5.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Duluth Holdings generated $121.4M in revenue in Q2 2027. This represents a decrease of 7.8% from the same quarter a year earlier. Against the prior quarter it is up 23.1%.
Duluth Holdings's EBITDA was $24.5M in Q2 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 173.7% from the same quarter a year earlier. Against the prior quarter it is up 809.2%.
Duluth Holdings reported $18.4M in net income in Q2 2027. This represents an increase of 1356.1% from the same quarter a year earlier. Against the prior quarter it is up 281.8%.
Duluth Holdings earned $0.50 per diluted share (EPS) in Q2 2027. This represents an increase of 1150.0% from the same quarter a year earlier. Against the prior quarter it is up 272.4%.
Cash & Balance Sheet
Duluth Holdings generated $28.2M in free cash flow in Q2 2027, representing cash available after capex. This represents a decrease of 5.5% from the same quarter a year earlier. Against the prior quarter it is up 285.3%.
Duluth Holdings held $26.8M in cash as of Q2 2027; long-term debt is not reported for that period.
Not reported for Q2 2027.
Margins & Returns
Duluth Holdings's gross margin was 72.8% in Q2 2027, indicating the percentage of revenue retained after direct costs. This is up 18.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 15.3 percentage points.
Duluth Holdings's operating margin was 15.5% in Q2 2027, reflecting core business profitability. This is up 13.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 24.9 percentage points.
Duluth Holdings's net profit margin was 15.1% in Q2 2027, showing the share of revenue converted to profit. This is up 14.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 25.4 percentage points.
Duluth Holdings's ROE was 10.3% in Q2 2027, measuring profit generated per dollar of shareholder equity. This is up 9.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 16.7 percentage points.
Capital Allocation
Duluth Holdings invested $716K in capex in Q2 2027, funding long-term assets and infrastructure. This represents a decrease of 68.0% from the same quarter a year earlier. Against the prior quarter it is down 59.8%.
Not reported for Q2 2027.
Not reported for Q2 2027.
DLTH Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $121.4M-7.8% | $98.6M-4.0% | $220.0M-13.8% | $114.9M-9.6% | $131.7M-7.0% | $102.7M-12.0% | $255.3M+3.9% | $127.1M-8.1% |
| Cost of Revenue | $33.0M-44.7% | $42.0M-15.0% | $108.9M-22.5% | $53.0M-12.6% | $59.7M-11.7% | $49.3M-10.4% | $140.5M+10.5% | $60.6M-11.9% |
| Gross Profit | $88.4M+22.7% | $56.6M+6.1% | $111.1M-3.2% | $61.8M-6.9% | $72.0M-2.7% | $53.4M-13.4% | $114.7M-3.1% | $66.4M-4.3% |
| SG&A Expenses | $69.5M+1.1% | $61.8M-5.2% | $109.3M-5.9% | $70.7M-14.1% | $68.8M-7.1% | $65.2M-7.7% | $116.2M+6.0% | $82.3M+0.6% |
| Operating Income | $18.8M+684.6% | -$9.2M+25.3% | $5.5M+740.2% | -$8.8M+59.9% | $2.4M+250.4% | -$12.4M-37.7% | -$860K-109.7% | -$22.1M-77.4% |
| EBITDA | $24.5M+173.7% | -$3.5M+38.4% | $12.4M+51.6% | -$2.6M+80.9% | $8.9M+38.7% | -$5.6M-678.2% | $8.2M-53.4% | -$13.6M-252.6% |
| Interest Expense | $768K-47.7% | $790K-46.7% | $1.7M+105.3% | $1.2M-1.6% | $1.5M+48.7% | $1.5M+49.1% | $834K-25.7% | $1.3M+2.6% |
| Income Tax | $61K+113.8% | $120K-90.6% | $1.5M+145.0% | $0-100.0% | -$442K+6.0% | $1.3M+161.0% | -$3.3M-274.1% | $4.9M+257.4% |
| Net Income | $18.4M+1356.1% | -$10.1M+34.0% | $2.6M+39.2% | -$10.1M+64.2% | $1.3M+163.7% | -$15.3M-94.2% | $1.8M-71.4% | -$28.2M-169.7% |
| EPS (Basic) | $0.52+1200.0% | -$0.29+35.6% | $0.24+241.2% | -$0.29+65.5% | $0.04+166.7% | -$0.45-87.5% | -$0.17-185.0% | -$0.84-162.5% |
| EPS (Diluted) | $0.50+1150.0% | -$0.29+35.6% | $0.24+241.2% | -$0.29+65.5% | $0.04+166.7% | -$0.45-87.5% | -$0.17-185.0% | -$0.84-162.5% |
| Diluted Shares (Avg) | 36M+5.0% | 35M+3.0% | N/A | 35M+3.2% | 35M+3.9% | 34M+1.9% | N/A | 33M+1.4% |
Not reported in any period shown, so not listed: R&D Expenses.
DLTH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $394.0M-9.2% | $380.6M-17.9% | $402.6M-11.0% | $468.0M-12.2% | $433.8M-11.2% | $463.7M-1.6% | $452.4M-7.9% | $533.1M+1.3% |
| Current Assets | $182.9M-1.6% | $163.1M-22.8% | $172.1M-10.2% | $228.7M-13.4% | $185.9M-10.1% | $211.1M+23.2% | $191.6M+5.9% | $264.3M+29.9% |
| Cash & Equivalents | $26.8M+367.0% | $6.1M-28.5% | $16.3M+390.1% | $8.2M-12.5% | $5.7M-41.4% | $8.6M+26.2% | $3.3M-89.6% | $9.3M+14.2% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $125.2M-15.5% | $132.4M-24.8% | $131.3M-21.1% | $192.2M-17.0% | $148.1M-12.2% | $176.1M+29.1% | $166.5M+32.4% | $231.4M+33.0% |
| Accounts Receivable | $2.1M-76.1% | $1.8M-58.7% | $2.7M-31.7% | $5.3M+20.6% | $8.9M+6.9% | $4.2M-59.8% | $4.0M-33.3% | $4.4M-22.6% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $402K0.0% |
| Total Liabilities | $218.9M-18.0% | $224.1M-25.0% | $236.5M-13.3% | $310.3M-10.8% | $266.7M-3.3% | $298.8M+16.7% | $272.8M+0.5% | $348.0M+11.5% |
| Current Liabilities | $97.3M-24.6% | $100.8M-35.8% | $108.2M-15.9% | $177.7M-12.8% | $129.1M+1.6% | $157.0M+64.3% | $128.6M+21.8% | $203.6M+44.2% |
| Non-Current Liabilities | $121.6M-11.7% | $123.3M-13.1% | $128.2M-11.0% | $132.6M-8.1% | $137.7M-7.5% | $141.9M-11.6% | $144.1M-13.1% | $144.3M-15.5% |
| Total Equity | $177.9M+4.7% | $159.4M-5.1% | $169.0M-7.5% | $160.6M-14.6% | $170.0M-21.2% | $167.9M-23.1% | $182.7M-18.0% | $188.1M-13.3% |
| Retained Earnings | $69.6M+9.3% | $51.2M-17.9% | $61.3M-21.1% | $53.6M-35.9% | $63.7M-43.2% | $62.4M-46.2% | $77.7M-36.0% | $83.7M-28.4% |
Not reported in any period shown, so not listed: Long-Term Debt.
DLTH Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $28.9M-9.8% | -$13.4M+76.2% | $55.3M+34.2% | -$6.7M+83.7% | $32.0M+92.8% | -$56.5M-67.7% | $41.2M-40.9% | -$41.1M-38.0% |
| Depreciation & Amortization | $5.6M-13.8% | $5.8M-14.4% | $5.9M-21.3% | $6.2M-26.1% | $6.5M-18.7% | $6.7M-18.2% | $7.6M-13.4% | $8.4M-1.6% |
| Stock-Based Compensation | N/A | $709K+179.1% | N/A | N/A | N/A | $254K-81.5% | N/A | N/A |
| Capital Expenditures | $716K-68.0% | $1.8M+33.6% | $1.8M-29.8% | $2.3M-14.0% | $2.2M+35.1% | $1.3M-12.7% | $2.5M-72.4% | $2.6M-69.0% |
| Free Cash Flow | $28.2M-5.5% | -$15.2M+73.7% | $53.5M+38.3% | -$8.9M+79.5% | $29.8M+99.2% | -$57.8M-64.2% | $38.7M-36.1% | -$43.7M-14.3% |
| Investing Cash Flow | -$656K+70.0% | -$1.7M-34.6% | -$1.7M+30.7% | -$2.2M+14.5% | -$2.2M-35.9% | -$1.3M+13.4% | -$2.5M+72.3% | -$2.6M+69.4% |
| Financing Cash Flow | -$7.6M+76.9% | $4.9M-92.2% | -$45.4M-1.5% | $11.3M-73.8% | -$32.7M-172.0% | $63.0M+543.7% | -$44.7M-21.6% | $43.2M+22.7% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
DLTH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.8%+18.1pp | 57.4%+5.5pp | 50.5%+5.5pp | 53.8%+1.6pp | 54.7%+2.4pp | 51.9%-0.9pp | 45.0%-3.3pp | 52.3%+2.1pp |
| Operating Margin | 15.5%+13.7pp | -9.4%+2.7pp | 2.5%+2.8pp | -7.7%+9.7pp | 1.8%+2.9pp | -12.0%-4.3pp | -0.3%-3.9pp | -17.4%-8.4pp |
| Net Margin | 15.1%+14.2pp | -10.3%+4.6pp | 1.2%+0.4pp | -8.8%+13.4pp | 1.0%+2.4pp | -14.9%-8.1pp | 0.7%-1.9pp | -22.2%-14.7pp |
| Return on Equity | 10.3%+9.6pp | -6.3%+2.8pp | 1.5%+0.5pp | -6.3%+8.7pp | 0.7%+1.7pp | -9.1%-5.5pp | 1.0%-1.9pp | -15.0%-10.2pp |
| Return on Assets | 4.7%+4.4pp | -2.6%+0.7pp | 0.6%+0.2pp | -2.2%+3.1pp | 0.3%+0.7pp | -3.3%-1.6pp | 0.4%-0.9pp | -5.3%-3.3pp |
| Current Ratio | 1.88+0.4x | 1.62+0.3x | 1.59+0.1x | 1.290.0x | 1.44-0.2x | 1.35-0.4x | 1.49-0.2x | 1.30-0.1x |
| Debt-to-Equity | 1.23-0.3x | 1.41-0.4x | 1.40-0.1x | 1.93+0.1x | 1.57+0.3x | 1.78+0.6x | 1.49+0.3x | 1.85+0.4x |
| Asset Turnover | 0.310.0x | 0.260.0x | 0.550.0x | 0.250.0x | 0.300.0x | 0.220.0x | 0.56+0.1x | 0.240.0x |
| FCF Margin | 23.2%+0.6pp | -15.4%+40.9pp | 24.3%+9.2pp | -7.8%+26.6pp | 22.6%+12.0pp | -56.3%-26.1pp | 15.2%-9.5pp | -34.4%-6.7pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Duluth Holdings DLTH | FY2025 | $565.2M | -$16.4M | -2.9% | $171.8M | 27/100 |
| A K A Brands Hldg Corp AKA | FY2025 | $600.2M | -$31.4M | -5.2% | $120.5M | 33/100 |
| Torrid Hldgs Inc CURV | FY2025 | $1.0B | -$7.0M | -0.7% | $243.3M | 33/100 |
| Cato Corp CATO | FY2025 | $653.8M | -$5.9M | -0.9% | $51.8M | 24/100 |
| J Jill JILL | FY2025 | $596.5M | $28K | 0.0% | $298.7M | 54/100 |
| Destination Xl DXLG | FY2025 | $435.0M | -$35.9M | -8.3% | $36.8M | 27/100 |
Where Duluth Holdings Ranks
Frequently Asked Questions
What is Duluth Holdings's annual revenue?
Duluth Holdings (DLTH) reported $565.2M in total revenue for fiscal year 2025. This represents a -9.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Duluth Holdings's revenue growing?
Duluth Holdings (DLTH) revenue declined by 9.8% year-over-year, from $626.6M to $565.2M in fiscal year 2025.
Is Duluth Holdings profitable?
No, Duluth Holdings (DLTH) reported a net income of -$16.4M in fiscal year 2025, with a net profit margin of -2.9%.
What is Duluth Holdings's EBITDA?
Duluth Holdings (DLTH) had EBITDA of $15.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Duluth Holdings's gross margin?
Duluth Holdings (DLTH) had a gross margin of 53.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Duluth Holdings's operating margin?
Duluth Holdings (DLTH) had an operating margin of -1.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Duluth Holdings's net profit margin?
Duluth Holdings (DLTH) had a net profit margin of -2.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Duluth Holdings's return on equity (ROE)?
Duluth Holdings (DLTH) has a return on equity of -9.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Duluth Holdings's free cash flow?
Duluth Holdings (DLTH) generated $16.6M in free cash flow during fiscal year 2025. This represents a 165.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Duluth Holdings's operating cash flow?
Duluth Holdings (DLTH) generated $24.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Duluth Holdings's total assets?
Duluth Holdings (DLTH) had $402.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Duluth Holdings's capital expenditures?
Duluth Holdings (DLTH) invested $7.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Duluth Holdings's current ratio?
Duluth Holdings (DLTH) had a current ratio of 1.59 as of fiscal year 2025, which is generally considered healthy.
What is Duluth Holdings's debt-to-equity ratio?
Duluth Holdings (DLTH) had a debt-to-equity ratio of 1.40 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Duluth Holdings's return on assets (ROA)?
Duluth Holdings (DLTH) had a return on assets of -4.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Duluth Holdings's P/E ratio?
Duluth Holdings (DLTH) trades at 241x earnings, its market capitalization divided by net income of $713K net income, trailing 12 months to August 2, 2026. The market capitalization is $171.8M as of Sep 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Duluth Holdings's price-to-sales ratio?
Duluth Holdings (DLTH) trades at 0.3x sales, its market capitalization divided by revenue of $554.9M revenue, trailing 12 months to August 2, 2026. The market capitalization is $171.8M as of Sep 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Duluth Holdings's Altman Z-Score?
Duluth Holdings (DLTH) has an Altman Z-Score of 2.16, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Duluth Holdings's Piotroski F-Score?
Duluth Holdings (DLTH) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Duluth Holdings's earnings high quality?
Duluth Holdings (DLTH) reported a net loss of $16.4M while generating $24.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Duluth Holdings cover its interest payments?
Duluth Holdings (DLTH) reported an operating loss of $10.2M against $5.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Duluth Holdings?
Duluth Holdings (DLTH) scores 27 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.