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Duluth Holdings Inc. (DLTH) stock

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NASDAQ: DLTH Nasdaq Apparel Retail Next results ~December 15, 2026

C Fundamentals grade

Duluth Holdings Inc. is a US-listed company in the apparel retail industry. Its financial year ends in January.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 56% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 56% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Duluth Holdings Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 0 selling2 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds26 adding, 28 cuttingOf 12 active managers that changed their stake, 10 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Duluth files

Where Duluth stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $551m, down 8.6% on a year earlier, about the same pace as a quarter earlier. That puts it 22 of 25 for growth among the apparel retail companies we cover. Free-cash-flow margin rose to 10.4% from -5.5% a year earlier. Operating margin widened to 1.7% from -6.0%. The diluted share count is up 4.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 3 financial-health checks.

Our model value for Duluth is under review, so past values are not shown until it is resolved.

Source: 10-Q filed September 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 15, 2026 (estimated)

Duluth Holdings Inc.'s trailing-twelve-month revenue fell 8.6% year on year, with a free-cash-flow margin of 10.4%. Where it stands out: free-cash-flow margin of 10.4% ranks 4 of 28 apparel retail companies we cover. Where it lags: revenue growth of -8.6% ranks 24 of 28 apparel retail companies we cover.

Our discounted-cash-flow model values the business at ~$4.5 per share in the base case (~$3.6–$5.8 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 5100% in the quarter to 2026-07-31, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 7.7 points on a year ago.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Revenue shrinking. Revenue fell 8.6% over the last 12 months.
  • Share dilution. Diluted shares rose 4.3% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 82% and a beta of 1.6 against the S&P 500.

Latest results: FY2027 Q2

Filed September 4, 2026
Earnings per share
$0.50 against an average estimate of -$0.01: beat by 5100.0%
Revenue
$121m, down 7.8% on a year earlier
Share reaction
+24.9% in the first session after the results on September 3, 2026, against +0.7% for the S&P 500
Guidance given
net sales guidance $540m to $560m (Fiscal 2026); adjusted EBITDA $38m to $42m (Fiscal 2026)
Next report
September 3, 2026; average EPS estimate -$0.32

Duluth's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.2%
  • 1 week+8.8%
  • 1 month+11.5%
  • This year+110.6%
  • 1 year+59.3%
  • 5 years-72.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$551M
Operating margin
1.7%
Net margin
1.1%
EPS (TTM, diluted)
$0.17

Growth

Revenue growth
−8.6%
Change in growth rate
−0.2 pts
Share count change
+4.3%

Cash

Free cash flow (TTM)
$57.5M
FCF margin
10.4%
Stock pay % of revenue
0.5%

Earnings

Last results
September 3, 2026
Next results (est.)
December 15, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Duluth Holdings Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 56% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Duluth Holdings Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.88 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$1.1 ~$1.7–$3.4 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Duluth Holdings Inc. with Apparel Retail in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20162020202120222023202420252026Now
Share price$16.51$8.45$12.47$14.63$6.69$4.90$2.92$2.41$4.38
Market value$429m$274m$406m$481m$221m$161m$97m$83m$155m
+ Net debt (− = net cash)−$38m−$2m−$47m−$77m−$46m−$32m−$3m−$16m−$26m
Enterprise value$391m$271m$360m$404m$175m$129m$94m$67m$129m
Multiples
Price / sales 1.4x0.4x0.6x0.7x0.3x0.2x0.2x0.1x0.3x
Price / earnings 15.6x14.5x29.9x16.2x95.8x———26.2x
Price / free cash flow 62.1x—10.4x5.9x———5.0x2.7x
EV / EBITDA 12.2x5.4x6.8x5.5x4.7x5.7x—4.4x3.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

32 /100

Weak moat

How hard Duluth's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Net income has been a median 2.9% of total assets over 10 years.

  • Pricing power 17 / 20

    Gross margin has been a median 53.1%, moving by 2.6 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 3.8%; its worst year was -6.0%.

  • Cash conversion 4 / 20

    Free cash flow was positive in 4 of 10 years, at a median -0.5% of revenue.

  • Discipline 14 / 20

    The diluted share count rose 7.8% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (37 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.12 +73% $547m −3%
Next −$0.03 +79% $564m +3%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −57.1% on 90 days ago. In the last 30 days, 1 analyst raised Duluth Holdings Inc.'s forecast and 1 cut it.

Consensus EPS forecast Duluth Holdings Inc., last 90 days
−$0.30 −$0.20 −$0.10 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.28 Current fiscal year, 60 days ago: −$0.22 Current fiscal year, 30 days ago: −$0.22 Current fiscal year, 7 days ago: −$0.22 Current fiscal year, Now: −$0.12 −$0.12 Next fiscal year, 90 days ago: −$0.09 Next fiscal year, 60 days ago: −$0.04 Next fiscal year, 30 days ago: −$0.04 Next fiscal year, 7 days ago: −$0.04 Next fiscal year, Now: −$0.03 −$0.03

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.28−$0.09
60 days ago −$0.22−$0.04
30 days ago −$0.22−$0.04
7 days ago −$0.22−$0.04
Now −$0.12−$0.03

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 −$0.01 $0.50 +5100.0%
Apr 2026 −$0.39 −$0.20 +48.7%
Jan 2026 $0.14 $0.23 +56.9%
Oct 2025 −$0.46 −$0.24 +48.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 3, 2026
  • net sales guidance Fiscal 2026 $540m to $560m Maintained
    “Affirming previously issued fiscal 2026 net sales guidance range of $540 million to $560 million” source
  • Adjusted EBITDA Fiscal 2026 $38m to $42m Non-GAAP Raised
    “Raising previously issued fiscal 2026 Adjusted EBITDA 1 guidance to $38 million to $42 million compared to the previous guidance of $28 million to $32 million, including the impact of tariff refunds” source
  • capital expenditures Fiscal 2026 about $12m Maintained
    “Affirming capital expenditures, inclusive of software hosting implementation costs, of approximately $12 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

2 analysts, Oct 2026
Buy00%
Hold2100%
Sell00%

Monthly trend

  1. Oct 202622

Counts of recommendations published by analysts covering Duluth Holdings Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.1%
of tradable shares
Days to cover
4.05
at average volume
Short interest, 1 month
−9%
to October 15, 2026
Held by institutions
17%
of shares
Held by insiders
60.1%
of shares
Employees
746
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +59.3%

$2.75 on October 31, 2025 to $4.38

ThenNowEffect
Revenue (last 12 months) $603m $551m −8.6%
P/S multiple 0.2x 0.3x +81.8%
Share count 34m 35m −4.1%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −13.1%

$5.04 on November 3, 2023 to $4.38

ThenNowEffect
Revenue (last 12 months) $652m $551m −15.5%
P/S multiple 0.3x 0.3x +9.8%
Share count 33m 35m −6.3%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
DLTH+44%−59%−13%−43%−33%+111%
Industry peers (median)+70%−40%+11%+11%+11%−8%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
DLTH67%42%42%25%42%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
DLTH−34%−64%−37%−47%−50%−24%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 20, 2015: 96% from November 28, 2016 to April 1, 2025. Getting back needed a 2154% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$2.07 – $4.77
From 52-week high
−8.2%
vs 50-day average
+7.5%
vs 200-day average
+24.2%
Volatility (1 year)
82%
Beta vs S&P 500
1.59

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±22.4%
After a week
6 up, 6 down
typical move ±23.4%
After a month
7 up, 5 down
typical move ±25.2%
Results releasedNext dayS&P 500 next day5 days21 days
September 3, 2026 +24.9% +0.7% +28.5% +13.3%
June 8, 2026 +40.7% −0.1% +42.8% +25.9%
March 19, 2026 +40.6% −1.7% +44.2% +64.1%
December 16, 2025 −30.0% −1.4% −30.0% −26.2%
September 4, 2025 +60.6% +0.5% +53.8% +70.3%
June 5, 2025 −13.8% +0.5% −13.4% −1.8%
March 13, 2025 −19.4% +0.7% −25.4% −36.0%
December 5, 2024 −8.5% 0.0% −8.3% −21.5%
August 29, 2024 +25.7% +1.0% +21.1% +16.4%
May 30, 2024 −1.7% +0.2% −8.1% −9.2%
March 7, 2024 +0.5% +0.4% +3.9% +12.3%
November 30, 2023 +1.9% +1.0% −1.4% +5.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Duluth Holdings Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Duluth Holdings Inc.
$550M $600M $650M FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $642.8M Revenue (TTM), FY24 Q4: $646.7M Revenue (TTM), FY25 Q1: $639.6M Revenue (TTM), FY25 Q2: $642.1M Revenue (TTM), FY25 Q3: $631M Revenue (TTM), FY25 Q4: $626.6M Revenue (TTM), FY26 Q1: $612.6M Revenue (TTM), FY26 Q2: $602.7M Revenue (TTM), FY26 Q3: $590.6M Revenue (TTM), FY26 Q4: $565.2M Revenue (TTM), FY27 Q1: $561.1M Revenue (TTM), FY27 Q2: $550.7M $550.7M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $642.8M
FY24 Q4 $646.7M
FY25 Q1 $639.6M
FY25 Q2 $642.1M
FY25 Q3 $631M
FY25 Q4 $626.6M
FY26 Q1 $612.6M
FY26 Q2 $602.7M
FY26 Q3 $590.6M
FY26 Q4 $565.2M
FY27 Q1 $561.1M
FY27 Q2 $550.7M
Revenue growth, TTM YoY Duluth Holdings Inc.
-10% -5% 0% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: -5.8% Revenue growth, TTM YoY, FY24 Q4: -1.0% Revenue growth, TTM YoY, FY25 Q1: -2.2% Revenue growth, TTM YoY, FY25 Q2: -1.5% Revenue growth, TTM YoY, FY25 Q3: -1.8% Revenue growth, TTM YoY, FY25 Q4: -3.1% Revenue growth, TTM YoY, FY26 Q1: -4.2% Revenue growth, TTM YoY, FY26 Q2: -6.1% Revenue growth, TTM YoY, FY26 Q3: -6.4% Revenue growth, TTM YoY, FY26 Q4: -9.8% Revenue growth, TTM YoY, FY27 Q1: -8.4% Revenue growth, TTM YoY, FY27 Q2: -8.6% -8.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 -5.8%
FY24 Q4 -1.0%
FY25 Q1 -2.2%
FY25 Q2 -1.5%
FY25 Q3 -1.8%
FY25 Q4 -3.1%
FY26 Q1 -4.2%
FY26 Q2 -6.1%
FY26 Q3 -6.4%
FY26 Q4 -9.8%
FY27 Q1 -8.4%
FY27 Q2 -8.6%
Operating margin (TTM) Duluth Holdings Inc.
-10% -5% 0% 5% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: -1.2% Operating margin (TTM), FY24 Q4: -1.5% Operating margin (TTM), FY25 Q1: -2.2% Operating margin (TTM), FY25 Q2: -2.2% Operating margin (TTM), FY25 Q3: -3.8% Operating margin (TTM), FY25 Q4: -5.9% Operating margin (TTM), FY26 Q1: -6.6% Operating margin (TTM), FY26 Q2: -6.0% Operating margin (TTM), FY26 Q3: -3.9% Operating margin (TTM), FY26 Q4: -1.8% Operating margin (TTM), FY27 Q1: -1.3% Operating margin (TTM), FY27 Q2: 1.7% 1.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 -1.2%
FY24 Q4 -1.5%
FY25 Q1 -2.2%
FY25 Q2 -2.2%
FY25 Q3 -3.8%
FY25 Q4 -5.9%
FY26 Q1 -6.6%
FY26 Q2 -6.0%
FY26 Q3 -3.9%
FY26 Q4 -1.8%
FY27 Q1 -1.3%
FY27 Q2 1.7%
FCF margin (TTM) Duluth Holdings Inc.
-10% -5% 0% 5% 10% 15% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: -3.8% FCF margin (TTM), FY24 Q4: -1.6% FCF margin (TTM), FY25 Q1: -1.6% FCF margin (TTM), FY25 Q2: 0.3% FCF margin (TTM), FY25 Q3: -0.5% FCF margin (TTM), FY25 Q4: -4.0% FCF margin (TTM), FY26 Q1: -7.8% FCF margin (TTM), FY26 Q2: -5.5% FCF margin (TTM), FY26 Q3: 0.3% FCF margin (TTM), FY26 Q4: 2.9% FCF margin (TTM), FY27 Q1: 10.5% FCF margin (TTM), FY27 Q2: 10.4% 10.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 -3.8%
FY24 Q4 -1.6%
FY25 Q1 -1.6%
FY25 Q2 0.3%
FY25 Q3 -0.5%
FY25 Q4 -4.0%
FY26 Q1 -7.8%
FY26 Q2 -5.5%
FY26 Q3 0.3%
FY26 Q4 2.9%
FY27 Q1 10.5%
FY27 Q2 10.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2014 Feb 2014 2015 Feb 2015 2016 Jan 2016 2017 Jan 2017 2018 Jan 2018 2019 Feb 2019 2020 Feb 2020 2021 Jan 2021 2022 Jan 2022 2023 Jan 2023 2024 Jan 2024 2025 Feb 2025 2026 Feb 2026 LTM Aug 2026
Income
Revenue 163 232 304 376 471 568 616 639 699 653 647 627 565 551
Gross profit 92 131 174 214 261 310 328 332 377 343 325 309 302 321
EBITDA 17 26 32 40 44 50 50 53 73 37 23 −5 15 33
Operating income 16 24 29 35 37 37 28 24 44 6 −10 −37 −10 9
Net income 16 24 27 21 23 23 19 14 30 2 −10 −44 −16 6
Diluted EPS $0.65 $0.99 $1.06 — — — $0.58 $0.42 $0.90 $0.07 −$0.30 −$1.31 −$0.47 $0.17
Growth (year on year)
Revenue — +42.2% +31.2% +23.7% +25.3% +20.5% +8.4% +3.8% +9.4% −6.5% −1.0% −3.1% −9.8% −8.6%
EBITDA — +48.0% +23.8% +24.1% +11.8% +12.1% +0.8% +5.1% +39.0% −49.5% −39.0% −120.3% — —
Operating income — +48.2% +21.3% +20.1% +5.9% +0.3% −24.4% −13.9% +82.1% −85.9% — — — —
Net income — +52.4% +16.0% −22.3% +9.6% −0.8% −18.3% −28.2% +118.8% −92.2% — — — —
Diluted EPS — +52.3% +7.1% — — — — −27.6% +114.3% −92.2% — — — —
Margins
Gross margin 56.4% 56.5% 57.0% 56.9% 55.4% 54.6% 53.3% 51.9% 54.0% 52.6% 50.3% 49.2% 53.4% 58.3%
EBITDA margin 10.7% 11.1% 10.5% 10.6% 9.4% 8.8% 8.2% 8.3% 10.5% 5.7% 3.5% −0.7% 2.7% 6.0%
Operating margin 9.9% 10.4% 9.6% 9.3% 7.9% 6.5% 4.6% 3.8% 6.3% 1.0% −1.5% −5.9% −1.8% 1.7%
Net margin 9.5% 10.2% 9.0% 5.7% 5.0% 4.1% 3.1% 2.1% 4.3% 0.4% −1.5% −7.0% −2.9% 1.1%
Free-cash-flow margin 7.6% 7.5% 2.3% −2.2% −3.5% −3.9% −2.6% 6.1% 11.7% −4.4% −1.6% −4.0% 2.9% 10.4%
Cash flow
Cash from operations 16 23 14 20 30 31 8 51 92 −1 39 −17 24 64
Capital spending 4 5 7 29 46 53 24 12 10 27 49 8 8 7
Free cash flow 12 17 7 −8 −17 −22 −16 39 82 −28 −10 −25 17 58
Stock-based pay 0 0 1 1 2 2 1 2 2 3 4 4 3 3
Free cash flow after stock pay 12 17 6 −10 −18 −24 −17 37 79 −31 −15 −29 14 55
Balance sheet
Cash — — 38 25 7 3 2 47 77 46 32 3 16 27
Total debt 0 — — — — — — — — — — — — 1
Net debt (negative = net cash) — — −38 −25 −7 −3 −2 −47 −77 −46 −32 −3 −16 −26
Diluted shares 24m 24m 26m — — — 32m 33m 33m 33m 33m 33m 35m 35m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 3 checks passed · August 2, 2026
What it owns · $394m
Short-term assets $183mLonger-term assets $211m
What it owes, and who funded it · $397m
Short-term liabilities $97mLonger-term liabilities $122mShareholders' equity $178m
  • Short-term assets cover short-term liabilities $183m of assets due within a year against $97m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $183m short-term assets against $122m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $9m against $4m of interest.

From Duluth Holdings Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+4.3%
year over year
Sales & admin spending
55.8%
of revenue

Competitors: side by side with peers

Closest by revenue in apparel retail
Last 12 months unless stated DLTH TLYS JILL AKA CATO DXLG Median
Revenue, last 12 months $551m $583m $588m $604m $644m $429m $1.1bn
Revenue growth, last 12 months −8.6% 6.1% −2.2% 0.9% −1.1% −4.2% 4.2%
Revenue growth, 3-year average −5.5% −3.2% −1.1% 2.4% −4.1% −7.3% 0.9%
Revenue growth, latest quarter −7.8% 8.1% 0.5% −0.3% −6.2% −3.4% 4.4%
Gross margin 58.3% 32.3% 70.0% 59.6% 33.6% 43.9% 40.1%
Operating margin 1.7% 0.1% 8.1% −2.5% −2.1% −4.5% 2.0%
Operating margin, 3-year average −2.2% −4.6% 10.6% −6.3% −2.9% −0.6% 0.2%
Net margin 1.1% 0.3% 4.6% −4.4% −0.9% −8.8% 1.5%
Cash from operations / revenue 11.6% 2.9% 11.1% 4.2% 0.8% 0.3% 4.9%
Free-cash-flow margin 10.4% 1.9% 8.3% 1.5% 0.3% −2.9% 2.9%
Free-cash-flow margin, 3-year average 1.8% −2.6% 7.7% 1.4% −1.9% −1.2% 1.7%
Stock pay / revenue 0.5% 0.4% 1.0% 0.9% 0.3% 0.2% 0.7%
Change in share count 4.3% 0.7% −1.7% 1.3% −0.5% −1.6% −0.3%

Median of all 28 companies we cover in apparel retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

28 apparel retail companies
Measure Company Peer median Rank
Revenue growth Growth -8.6% 4.7% 24 of 28
Change in growth rate Growth -0.2pp -0.2pp 14 of 28
Gross margin Profitability 58.3% 40.5% 4 of 26
Operating margin Profitability 1.7% 1.9% 14 of 25
Net margin Profitability 1.1% 1.7% 16 of 28
Free-cash-flow margin Cash generation 10.4% 3.0% 4 of 28
Stock pay as % of revenue Cash generation 0.5% 0.7% 8 of 26
Change in share count Balance sheet 4.3% -0.3% 23 of 27

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$26.1M
Institutions reporting
60
Shares held vs prior quarter
▲ 7.2%
Positions opened / closed
11 / 8

Top buyers and sellers, Q2 2026: 26 institutions bought and 28 sold ; the biggest buyer was Informed Momentum Co LLC (+230K shares) and the biggest seller Blair William & Co (−63K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Madison Asset Management, LLC $3.4M 763K 13.1% 0.0%
Tieton Capital Management, LLC $3.3M 727K 12.5% ▼ 2.8%
Vanguard Capital Management LLC $2.9M 655K 11.3% ▲ 1.2%
Dimensional Fund Advisors LP $2.5M 563K 9.7% ▼ 3.2%
Blackrock, Inc. $1.7M 375K 6.5% ▼ 2.2%
Sei Investments Co $1.4M 318K 5.5% ▼ 12.4%
Connor, Clark & Lunn Investment Management Ltd. $1.3M 288K 4.9% ▲ 20.0%
Informed Momentum Co LLC $1M 230K 4.0% New
Acadian Asset Management LLC $945,000 212K 3.6% ▲ 462.0%
Bridgeway Capital Management, LLC $762,850 170K 2.9% ▲ 9.2%
Geode Capital Management, LLC $748,061 167K 2.9% ▼ 10.8%
Goldman Sachs Group Inc $452,489 101K 1.7% ▼ 8.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Duluth Holdings Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $62,487 2 trades by 1 insider, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $62,487 net buying
Insider Date Trade Shares Price Value
Schlecht Richard W SVP, Product Dev. & Sourcing December 24, 2025 Buy 10,502 $2.22 $23,314
Schlecht Richard W SVP, Product Dev. & Sourcing December 23, 2025 Buy 18,052 $2.17 $39,173

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around December 15, 2026 estimated from the company's past filing pattern, not announced

  • September 3, 2026
  • June 8, 2026
  • March 19, 2026
  • December 16, 2025
  • September 4, 2025
  • June 5, 2025

Recent SEC filings

Data status

When each part of this page on Duluth Holdings Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Duluth Holdings Inc. in brief

What does Duluth Holdings Inc. do?
Duluth Holdings Inc. is a US-listed company in the apparel retail industry. Its financial year ends in January.
What is Duluth Holdings Inc.'s stock ticker?
Duluth Holdings Inc. trades under the ticker DLTH on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Duluth Holdings Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Duluth Holdings Inc. reported revenue of $551M, 8.6% lower than a year earlier, according to its SEC filings.
What is Duluth Holdings Inc.'s free cash flow?
Duluth Holdings Inc.'s free-cash-flow margin is 10.4% of revenue over the trailing twelve months, ranking 4 of the 28 apparel retail companies we cover.
Who are Duluth Holdings Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Madison Asset Management, LLC, Tieton Capital Management, LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Duluth Holdings Inc.'s market cap?
On November 2, 2026, Duluth Holdings Inc.'s market capitalisation was about $155M, with a price-to-earnings ratio of 26.2 and net debt of -$25.7M. Market figures come from third-party market data and may be delayed.
Who are Duluth Holdings Inc.'s competitors?
In our Apparel Retail peer group, the companies closest to Duluth Holdings Inc. are Tilly's, Inc., J.jill, Inc., A.k.a. Brands Holding Corp., Cato Corp and Destination XL Group, Inc. The side-by-side comparison below sets their revenue, margins and growth against Duluth Holdings Inc.'s.
Are insiders buying or selling Duluth Holdings Inc. stock?
Over the last 12 months, Duluth Holdings Inc.'s directors and officers reported 2 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Duluth Holdings Inc.'s next earnings date?
Around December 15, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Duluth Holdings Inc. announces its own schedule.