Duluth Holdings vs Thredup
Duluth Holdings is the larger business, with $565m of revenue in fiscal 2026 against $311m for Thredup (1.8 times as much). Thredup grew faster (19.5% against -9.8%). Duluth Holdings kept more of each dollar of sales as profit: a net margin of -2.9% against -6.5%.
| Latest fiscal year | Duluth HoldingsDLTH, 2026 | ThredupTDUP, 2025 |
|---|---|---|
| Revenue | $565m | $311m |
| Revenue growth | -9.8% | 19.5% |
| Net income | −$16.4m | −$20.2m |
| Operating margin | -1.8% | -7.0% |
| Net margin | -2.9% | -6.5% |
| Return on equity | -9.3% | -35.0% |
| Free cash flow | $16.6m | $180,000 |
| Cash | $16.3m | $38.6m |
| Total debt | — | $18.3m |
| Debt to equity | — | 31.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $159m | $261m |
| Price vs our value range | Within our value range | — |
| Moat score | 32 (Weak) | 47 (Moderate) |
| Insider trades, 12 months | 2 buys, 0 sales | 2 buys, 38 sales |