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Duluth (DLTH) Financials

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$4.27 -0.06 (-1.39%)
Closing price 07/17/2026 04:00 PM Eastern
Extended Trading
$4.29 +0.02 (+0.47%)
As of 07/17/2026 07:41 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Duluth

Annual Income Statements for Duluth

This table shows Duluth's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 1/31/2016 1/29/2017 1/28/2018 1/29/2019 2/2/2020 1/31/2021 1/30/2022 1/29/2023 1/28/2024 2/2/2025 2/1/2026
Net Income / (Loss) Attributable to Common Shareholders		 27 21 23 23 19 14 30 2.30 -9.92 -44 -16
Consolidated Net Income / (Loss)		 28 22 24 23 18 13 30 2.25 -9.94 -44 -16
Net Income / (Loss) Continuing Operations		 28 22 24 23 18 13 30 2.25 -9.94 -44 -16
Total Pre-Tax Income 		29 35 36 32 24 18 39 2.95 -13 -41 -15
Total Operating Income		 29 35 37 37 28 24 44 6.23 -9.57 -37 -10
Total Gross Profit		 174 214 261 310 328 332 377 343 325 309 302
Total Revenue		 304 376 471 568 616 639 699 653 647 627 565
Operating Revenue		 304 376 471 568 616 639 699 653 647 627 565
Total Cost of Revenue		 131 162 210 258 287 307 321 310 322 318 264
Operating Cost of Revenue		 131 162 210 258 287 307 321 310 322 318 264
Total Operating Expenses		 144 179 224 273 300 307 333 337 335 345 312
Selling, General & Admin Expense		 144 179 224 273 300 307 333 337 335 338 311
Restructuring Charge		 - - - - - - - - 0.00 7.75 1.23
Total Other Income / (Expense), net		 -0.13 0.05 -1.57 -5.57 -4.18 -6.20 -4.66 -3.28 -3.23 -4.38 -4.91
Interest Expense		 0.31 0.19 1.99 5.95 4.47 6.26 4.72 3.65 4.16 4.55 5.20
Other Income / (Expense), net		 0.18 0.25 0.42 0.38 0.29 0.07 0.06 0.38 0.92 0.17 0.30
Income Tax Expense		 1.34 14 12 8.45 5.43 4.64 9.89 0.71 -2.86 2.37 1.19
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.25 0.21 0.28 0.01 -0.42 -0.20 -0.15 -0.06 -0.02 0.06 0.14
Basic Earnings per Share		 - $0.68 $0.73 $0.72 $0.59 $0.42 $0.91 $0.07 ($0.30) ($1.31) ($0.47)
Weighted Average Basic Shares Outstanding		 40.40M 31.53M 31.85M 32.09M 32.31M 32.45M 32.62M 32.77M 32.96M 33.37M 34.62M
Diluted Earnings per Share		 - $0.66 $0.72 $0.72 $0.58 $0.42 $0.90 $0.07 ($0.30) ($1.31) ($0.47)
Weighted Average Diluted Shares Outstanding		 40.40M 32.25M 32.29M 32.32M 32.37M 32.58M 32.85M 32.99M 32.96M 33.37M 34.62M
Weighted Average Basic & Diluted Shares Outstanding		 40.40M 31.53M 32M 32.65M 32.72M 32.91M 33.05M 33.43M 34.41M 35.14M 36.76M

Quarterly Income Statements for Duluth

This table shows Duluth's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 7/30/2023 10/29/2023 2/2/2025 4/28/2024 8/3/2025 11/2/2025 2/2/2025 5/4/2025
Net Income / (Loss) Attributable to Common Shareholders		 -2.00 -10 -27 -7.87 1.26 -10 -27 -15
Consolidated Net Income / (Loss)		 -2.01 -10 -27 -7.87 1.29 -10 -27 -15
Net Income / (Loss) Continuing Operations		 -2.01 -10 -27 -7.87 1.29 -10 -27 -15
Total Pre-Tax Income 		-2.21 -14 -20 -9.95 0.85 -10 -22 -14
Total Operating Income		 -1.44 -12 -18 -8.97 2.40 -8.83 -21 -12
Total Gross Profit		 71 69 102 62 72 62 113 53
Total Revenue		 139 138 226 117 132 115 263 103
Operating Revenue		 139 138 226 117 132 115 263 103
Total Cost of Revenue		 68 69 124 55 60 53 150 49
Operating Cost of Revenue		 68 69 124 55 60 53 150 49
Total Operating Expenses		 73 82 120 71 70 71 134 66
Selling, General & Admin Expense		 73 82 113 71 69 71 128 65
Impairment Charge		 - - - - - - - 0.55
Restructuring Charge		 0.00 0.00 - - 0.85 0.00 - 0.00
Total Other Income / (Expense), net		 -0.77 -1.17 -1.65 -0.98 -1.55 -1.23 -0.62 -1.64
Interest Expense		 0.88 1.22 1.52 0.99 1.47 1.23 0.86 1.48
Other Income / (Expense), net		 0.11 0.05 -0.13 0.02 -0.08 -0.00 0.24 -0.16
Income Tax Expense		 -0.20 -3.13 7.16 -2.08 -0.44 0.00 4.90 1.27
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.01 -0.01 0.08 0.01 0.03 0.03 -0.02 0.03
Basic Earnings per Share		 ($0.06) ($0.32) ($0.81) ($0.24) $0.04 ($0.29) ($0.82) ($0.45)
Weighted Average Basic Shares Outstanding		 32.95M 32.99M 33.37M 33.09M 34.45M 34.52M 33.37M 33.71M
Diluted Earnings per Share		 ($0.06) ($0.32) ($0.81) ($0.24) $0.04 ($0.29) ($0.82) ($0.45)
Weighted Average Diluted Shares Outstanding		 32.95M 32.99M 33.37M 33.09M 34.66M 34.52M 33.37M 33.71M
Weighted Average Basic & Diluted Shares Outstanding		 34.58M 34.48M 35.14M 35.07M 36.69M 36.73M 35.14M 38.00M

Annual Cash Flow Statements for Duluth

This table details how cash moves in and out of Duluth's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 1/31/2016 1/29/2017 1/28/2018 1/29/2019 2/2/2020 1/31/2021 1/30/2022 1/29/2023 1/28/2024 2/2/2025 2/1/2026
Net Change in Cash & Equivalents		 30 -12 -18 -4.00 -0.85 45 30 -32 -13 -29 13
Net Cash From Operating Activities		 14 20 30 31 8.35 51 92 -1.40 39 -17 24
Net Cash From Continuing Operating Activities		 14 20 30 31 8.35 51 92 -1.40 39 -17 24
Net Income / (Loss) Continuing Operations		 28 22 24 23 18 13 30 2.25 -9.94 -44 -16
Consolidated Net Income / (Loss)		 28 22 24 23 18 13 30 2.25 -9.94 -44 -16
Depreciation Expense		 2.84 4.70 7.33 13 22 29 29 31 32 32 25
Non-Cash Adjustments To Reconcile Net Income		 0.73 1.23 2.02 -1.43 0.65 -2.14 -1.81 5.30 3.39 4.29 3.76
Changes in Operating Assets and Liabilities, net		 -17 -7.20 -3.11 -3.23 -33 11 35 -40 13 -9.87 11
Net Cash From Investing Activities		 -7.36 -29 -53 -54 -31 -12 -10 -27 -49 -8.13 -7.38
Net Cash From Continuing Investing Activities		 -7.36 -29 -53 -54 -31 -12 -10 -27 -49 -8.13 -7.38
Purchase of Property, Plant & Equipment		 -7.36 -29 -46 -53 -24 -12 -10 -27 -49 -8.33 -7.60
Sale of Property, Plant & Equipment		 - - - - - 0.00 0.06 0.03 0.02 0.00 0.00
Divestitures		 - - - 0.22 - - - 0.00 0.17 0.00 0.00
Sale and/or Maturity of Investments		 - - - 0.03 0.12 0.13 0.15 0.16 0.18 0.20 0.22
Net Cash From Financing Activities		 23 -3.74 4.76 19 21 6.36 -51 -3.23 -3.35 -3.78 -3.78
Net Cash From Continuing Financing Activities		 23 -3.74 4.76 19 21 6.36 -51 -3.23 -3.35 -3.78 -3.78
Repayment of Debt		 -151 -30 -89 -114 -269 -117 -54 -25 -57 -84 -176
Issuance of Debt		 150 25 94 133 292 125 5.44 25 57 84 175
Other Financing Activities, net		 - -0.02 -0.38 -0.04 -1.21 -2.18 -2.93 -3.16 -3.12 -3.32 -3.13
Cash Interest Paid		 0.30 0.19 1.85 5.76 4.57 6.44 3.75 3.65 4.16 4.55 5.20
Cash Income Taxes Paid		 - 6.70 9.00 10 0.56 0.83 16 7.22 2.03 0.13 0.17

Quarterly Cash Flow Statements for Duluth

This table details how cash moves in and out of Duluth's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 7/30/2023 10/29/2023 2/2/2025 4/28/2024 7/28/2024 11/2/2025 2/2/2025 5/4/2025
Net Change in Cash & Equivalents		 1.94 -2.97 -6.00 -25 2.99 2.43 -34 5.24
Net Cash From Operating Activities		 13 -30 41 -34 17 -6.68 14 -56
Net Cash From Continuing Operating Activities		 13 -30 41 -34 17 -6.68 14 -56
Net Income / (Loss) Continuing Operations		 -2.01 -10 -3.49 -7.87 -3.73 -10 -20 -15
Consolidated Net Income / (Loss)		 -2.01 -10 -3.49 -7.87 -3.73 -10 -20 -15
Depreciation Expense		 7.46 8.57 7.55 8.25 8.05 6.23 13 6.75
Non-Cash Adjustments To Reconcile Net Income		 1.39 1.34 1.06 -0.29 -1.93 0.42 1.28 5.54
Changes in Operating Assets and Liabilities, net		 5.89 -29 36 -34 14 -3.26 20 -53
Net Cash From Investing Activities		 -10 -8.43 -2.46 -1.48 -1.61 -2.21 -2.46 -1.28
Net Cash From Continuing Investing Activities		 -10 -8.43 -2.46 -1.48 -1.61 -2.21 -2.46 -1.28
Purchase of Property, Plant & Equipment		 -10 -8.48 -2.52 -1.53 -1.66 -2.26 -2.50 -1.33
Sale and/or Maturity of Investments		 0.04 0.05 0.05 0.05 0.05 0.06 0.04 0.05
Net Cash From Financing Activities		 -0.74 35 -45 9.79 -12 11 -45 63
Net Cash From Continuing Financing Activities		 -0.74 35 -45 9.79 -12 11 -45 63
Repayment of Debt		 0.10 9.94 -84 -17 -24 -50 10 -0.58
Issuance of Debt		 -0.14 26 40 28 13 62 -55 64
Other Financing Activities, net		 -0.70 -0.72 -0.61 -1.12 -0.91 -0.64 -0.84 -0.89
Cash Interest Paid		 0.88 1.22 1.32 0.99 0.99 1.23 0.37 1.48
Cash Income Taxes Paid		 1.58 0.08 - 0.00 0.12 - 0.13 0.00

Annual Balance Sheets for Duluth

This table presents Duluth's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 1/31/2016 1/29/2017 1/28/2018 1/29/2019 2/2/2020 1/31/2021 1/29/2023 1/28/2024 1/28/2024 2/2/2025 2/1/2026
Total Assets		 121 156 223 295 474 515 527 490 491 452 403
Total Current Assets		 98 101 102 118 162 210 222 181 181 192 172
Cash & Equivalents		 38 24 2.87 0.73 2.19 47 46 32 32 3.34 16
Accounts Receivable		 0.10 0.39 0.33 4.64 1.47 2.82 6.04 5.96 5.96 3.97 2.71
Inventories, net		 55 70 90 98 148 149 155 126 126 167 131
Prepaid Expenses		 3.68 4.86 9.09 15 11 11 15 16 16 18 22
Current Deferred & Refundable Income Taxes		 - - - - - - 0.00 0.62 0.62 0.00 0.00
Plant, Property, & Equipment, net		 22 52 110 167 137 124 113 133 133 112 97
Total Noncurrent Assets		 0.70 2.29 12 10.00 175 181 193 177 178 149 134
Noncurrent Note & Lease Receivables		 - - - - 47 53 47 40 40 33 30
Other Noncurrent Operating Assets		 0.30 0.45 6.95 7.64 128 128 146 135 135 116 104
Total Liabilities & Shareholders' Equity		 121 156 223 295 474 515 527 490 491 452 403
Total Liabilities		 30 42 84 135 298 324 300 268 271 273 236
Total Current Liabilities		 25 35 50 53 80 96 118 102 106 129 108
Short-Term Debt		 0.72 0.74 0.08 0.50 1.56 3.12 0.77 0.85 0.85 0.93 1.02
Accounts Payable		 11 9.33 17 25 33 34 57 51 51 74 48
Accrued Expenses		 12 20 25 27 29 38 41 31 34 36 40
Current Deferred & Payable Income Tax Liabilities		 1.31 5.23 7.63 0.22 3.43 7.58 1.76 - 0.00 0.07 0.00
Other Current Liabilities		 - - - - 12 14 18 20 20 18 19
Total Noncurrent Liabilities		 5.44 7.06 33 83 218 229 182 166 166 144 128
Long-Term Debt		 4.30 0.04 1.42 45 66 73 26 25 25 24 23
Capital Lease Obligations		 - 3.35 27 23 37 43 37 34 34 31 28
Noncurrent Deferred & Payable Income Tax Liabilities		 0.03 1.57 2.10 9.72 8.51 8.20 1.25 - 0.00 0.00 0.96
Other Noncurrent Operating Liabilities		 - - - - 106 104 117 106 106 89 76
Total Equity & Noncontrolling Interests		 90 114 139 160 176 190 227 222 220 180 166
Total Preferred & Common Equity		 89 111 136 160 178 193 230 225 223 183 169
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 89 111 136 160 178 193 230 225 223 183 169
Common Stock		 85 86 88 90 91 93 99 104 104 108 111
Retained Earnings		 3.44 25 48 71 88 101 133 124 121 78 61
Treasury Stock		 - - -0.06 -0.09 -0.41 -0.63 -1.46 -1.74 -1.74 -2.33 -2.92
Accumulated Other Comprehensive Income / (Loss)		 -0.03 - - - 0.19 0.05 -0.15 -0.43 -0.43 -0.72 -0.23
Noncontrolling Interest		 1.68 2.61 3.28 -0.24 -2.17 -3.00 -3.21 -3.06 -3.06 -3.00 -2.86

Quarterly Balance Sheets for Duluth

This table presents Duluth's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 7/30/2023 10/29/2023 4/28/2024 8/3/2025 11/2/2025 5/3/2026
Total Assets		 503 526 471 434 468 381
Total Current Assets		 192 204 171 186 229 163
Cash & Equivalents		 11 8.18 6.80 5.74 8.17 6.13
Accounts Receivable		 5.76 5.68 11 8.89 5.30 1.75
Inventories, net		 157 174 136 148 192 132
Prepaid Expenses		 18 16 18 23 23 23
Current Deferred & Refundable Income Taxes		 0.14 0.10 0.08 0.11 0.11 0.00
Plant, Property, & Equipment, net		 126 134 127 103 100 92
Total Noncurrent Assets		 185 189 173 145 139 126
Noncurrent Note & Lease Receivables		 46 45 38 31 30 29
Other Noncurrent Operating Assets		 139 140 132 113 109 97
Total Liabilities & Shareholders' Equity		 503 526 471 434 468 381
Total Liabilities		 280 312 256 267 310 224
Total Current Liabilities		 107 141 96 129 178 101
Short-Term Debt		 0.81 37 12 33 46 7.05
Accounts Payable		 59 54 37 44 80 40
Accrued Expenses		 28 32 26 33 33 34
Current Deferred & Payable Income Tax Liabilities		 0.00 0.00 - 0.00 0.00 0.00
Other Current Liabilities		 19 19 20 19 19 19
Total Noncurrent Liabilities		 172 171 161 138 133 123
Long-Term Debt		 26 25 25 24 24 23
Capital Lease Obligations		 36 35 33 29 29 27
Noncurrent Deferred & Payable Income Tax Liabilities		 0.00 0.00 - 0.94 0.94 0.96
Other Noncurrent Operating Liabilities		 111 110 102 84 80 72
Total Equity & Noncontrolling Interests		 223 214 215 167 158 157
Total Preferred & Common Equity		 227 217 218 170 161 159
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 227 217 218 170 161 159
Common Stock		 101 103 105 109 110 112
Retained Earnings		 127 117 116 64 54 51
Treasury Stock		 -1.73 -1.74 -2.12 -2.92 -2.92 -3.16
Accumulated Other Comprehensive Income / (Loss)		 -0.30 -0.55 -0.53 -0.27 -0.19 -0.26
Noncontrolling Interest		 -3.23 -3.23 -3.05 -2.94 -2.90 -2.81

Annual Metrics And Ratios for Duluth

This table displays calculated financial ratios and metrics derived from Duluth's official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 1/31/2016 1/29/2017 1/28/2018 1/29/2019 2/2/2020 1/31/2021 1/30/2022 1/29/2023 2/2/2025 2/2/2025 2/1/2026
DEI Shares Outstanding		 32,315,942.00 32,375,756.00 32,461,307.00 32,578,876.00 32,524,816.00 32,828,196.00 33,062,518.00 33,422,705.00 - 35,177,154.00 36,726,192.00
DEI Adjusted Shares Outstanding		 32,315,942.00 32,375,756.00 32,461,307.00 32,578,876.00 32,524,816.00 32,828,196.00 33,062,518.00 33,422,705.00 - 35,177,154.00 36,726,192.00
DEI Earnings Per Adjusted Shares Outstanding		 0.85 0.66 0.72 0.71 0.58 0.41 0.90 0.07 - -1.24 -0.45
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 31.18% 23.66% 25.35% 20.50% 8.37% 3.76% 9.36% -6.48% -3.10% -3.10% -9.81%
EBITDA Growth		 22.46% 24.18% 12.21% 11.90% 0.65% 4.59% 38.98% -49.01% -118.74% -118.74% 454.27%
EBIT Growth		 19.97% 20.17% 6.37% 0.19% -24.40% -14.50% 81.85% -85.04% -324.34% -324.34% 73.12%
NOPAT Growth		 15.73% -22.69% 14.76% 10.43% -20.24% -17.25% 83.75% -85.66% -285.21% -285.21% 72.45%
Net Income Growth		 14.85% -22.24% 9.75% -1.96% -20.14% -27.67% 120.85% -92.40% -338.75% -338.75% 62.74%
EPS Growth		 0.00% 0.00% 9.09% 0.00% -19.44% -27.59% 114.29% -92.22% -336.67% -336.67% 64.12%
Operating Cash Flow Growth		 -37.18% 42.49% 47.47% 4.11% -73.16% 508.01% 81.24% -101.52% -143.74% -143.74% 242.89%
Free Cash Flow Firm Growth		 151.78% -313.45% -225.04% 12.62% 15.71% 205.71% 50.17% -99.58% -15.05% -136.87% 327.19%
Invested Capital Growth		 59.82% 60.38% 73.47% 40.56% 23.77% -5.62% -6.66% 1.84% -6.33% -6.33% -12.97%
Revenue Q/Q Growth		 0.00% 10.03% 10.08% 6.11% 1.50% -0.57% 2.16% -4.25% -1.51% 2.91% 0.00%
EBITDA Q/Q Growth		 0.00% 12.78% 20.40% 5.71% 9.06% -1.66% -7.70% -26.03% -140.45% -119.80% 0.00%
EBIT Q/Q Growth		 0.00% 12.38% 22.37% 1.43% 9.45% -7.80% -12.33% -67.35% -68.65% -511.36% 0.00%
NOPAT Q/Q Growth		 0.00% -30.97% 32.12% 8.79% 16.09% -11.19% -12.20% -68.05% -61.66% -462.59% 0.00%
Net Income Q/Q Growth		 0.00% -14.39% 30.96% 3.89% 25.32% -15.46% -13.01% -81.46% -112.63% -326.90% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 30.91% 4.35% 20.83% -12.50% -15.09% -80.56% -111.29% -351.72% 0.00%
Operating Cash Flow Q/Q Growth		 -29.03% 331.28% 147.27% -24.75% 19.70% 85.51% -17.96% -116.99% -153.61% -143.87% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 19.49% 4.53% 12.55% -33.32% -15.92% 101.32% -23.58% -119.82% 0.00%
Invested Capital Q/Q Growth		 0.00% -18.87% -13.94% -10.19% -8.86% -4.55% -2.99% -11.94% -16.02% -6.11% 0.00%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 57.05% 56.94% 55.37% 54.64% 53.30% 51.90% 54.01% 52.57% 49.23% 49.23% 53.37%
EBITDA Margin		 10.58% 10.62% 9.51% 8.83% 8.20% 8.27% 10.50% 5.73% -0.70% -0.70% 2.76%
Operating Margin		 9.58% 9.31% 7.86% 6.54% 4.57% 3.79% 6.31% 0.95% -5.88% -5.88% -1.80%
EBIT Margin		 9.64% 9.37% 7.95% 6.61% 4.61% 3.80% 6.32% 1.01% -5.85% -5.85% -1.74%
Profit (Net Income) Margin		 9.10% 5.72% 5.01% 4.08% 3.00% 2.09% 4.23% 0.34% -6.96% -6.96% -2.88%
Tax Burden Percent		 95.39% 61.42% 66.55% 73.27% 77.31% 74.26% 74.93% 76.03% 105.75% 105.75% 107.87%
Interest Burden Percent		 98.96% 99.45% 94.70% 84.16% 84.26% 74.21% 89.32% 44.71% 112.41% 112.41% 152.75%
Effective Tax Rate		 4.61% 38.58% 33.45% 26.73% 22.69% 25.74% 25.07% 23.97% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 59.35% 28.65% 19.52% 14.13% 8.62% 6.63% 12.98% 1.91% -10.75% -10.75% -3.27%
ROIC Less NNEP Spread (ROIC-NNEP)		 60.03% 28.53% 618.81% 4.67% 4.77% 1.39% 5.34% -8.77% -54.94% -54.94% -23.94%
Return on Net Nonoperating Assets (RNNOA)		 -16.34% -7.57% -0.85% 1.35% 2.39% 0.67% 1.17% -0.91% -11.09% -11.09% -6.12%
Return on Equity (ROE)		 43.01% 21.08% 18.67% 15.47% 11.00% 7.30% 14.15% 1.00% -21.84% -21.84% -9.40%
Cash Return on Invested Capital (CROIC)		 13.30% -17.73% -34.21% -19.59% -12.63% 12.42% 19.87% 0.09% -4.22% -4.22% 10.59%
Operating Return on Assets (OROA)		 30.62% 25.49% 19.78% 14.49% 7.38% 4.91% 8.47% 1.30% -7.78% -7.78% -2.31%
Return on Assets (ROA)		 28.90% 15.57% 12.47% 8.94% 4.81% 2.71% 5.67% 0.44% -9.24% -9.24% -3.80%
Return on Common Equity (ROCE)		 41.95% 20.64% 18.23% 15.31% 11.08% 7.40% 14.36% 1.01% -22.17% -22.17% -9.56%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -23.87% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 28 21 25 27 22 18 33 4.74 -26 -26 -7.11
NOPAT Margin		 9.14% 5.72% 5.23% 4.80% 3.53% 2.82% 4.73% 0.73% -4.12% -4.12% -1.26%
Net Nonoperating Expense Percent (NNEP)		 -0.68% 0.12% -599.29% 9.45% 3.84% 5.24% 7.65% 10.68% 44.19% 44.19% 20.66%
Return On Investment Capital (ROIC_SIMPLE)		 29.11% 18.23% 14.73% 11.92% 7.73% 5.80% 11.34% 1.68% -10.96% -10.96% -3.26%
Cost of Revenue to Revenue		 42.95% 43.06% 44.63% 45.36% 46.70% 48.10% 45.99% 47.43% 50.77% 50.77% 46.63%
SG&A Expenses to Revenue		 47.47% 47.63% 47.50% 48.09% 48.74% 48.11% 47.70% 51.61% 53.88% 53.88% 54.95%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 47.47% 47.63% 47.50% 48.09% 48.74% 48.11% 47.70% 51.61% 55.12% 55.12% 55.16%
Earnings before Interest and Taxes (EBIT)		 29 35 37 38 28 24 44 6.61 -37 -37 -9.86
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 32 40 45 50 50 53 73 37 -4.41 -4.41 16
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.01 6.69 4.46 4.67 1.54 2.12 2.10 0.99 0.56 0.56 0.52
Price to Tangible Book Value (P/TBV)		 6.04 6.71 4.47 4.67 1.54 2.12 2.10 0.99 0.56 0.56 0.52
Price to Revenue (P/Rev)		 1.75 1.98 1.29 1.32 0.45 0.64 0.69 0.34 0.16 0.16 0.16
Price to Earnings (P/E)		 19.44 34.89 25.97 32.36 14.53 30.15 16.29 97.05 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 5.14% 2.87% 3.85% 3.09% 6.88% 3.32% 6.14% 1.03% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 8.72 7.86 3.96 3.62 1.35 1.82 2.03 0.99 0.66 0.66 0.60
Enterprise Value to Revenue (EV/Rev)		 1.65 1.93 1.35 1.44 0.61 0.75 0.71 0.38 0.24 0.24 0.22
Enterprise Value to EBITDA (EV/EBITDA)		 15.62 18.18 14.16 16.28 7.44 9.08 6.80 6.65 0.00 0.00 7.79
Enterprise Value to EBIT (EV/EBIT)		 17.13 20.61 16.93 21.74 13.23 19.74 11.30 37.63 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 18.07 33.79 25.74 29.98 17.28 26.65 15.10 52.48 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 35.34 35.86 21.26 26.26 45.00 9.44 5.43 0.00 0.00 0.00 5.03
Enterprise Value to Free Cash Flow (EV/FCFF)		 80.60 0.00 0.00 0.00 0.00 14.23 9.87 1,175.17 0.00 0.00 5.29
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.06 0.04 0.20 0.43 0.60 0.63 0.28 0.27 0.31 0.31 0.31
Long-Term Debt to Equity		 0.05 0.03 0.20 0.42 0.59 0.61 0.28 0.27 0.31 0.31 0.31
Financial Leverage		 -0.27 -0.27 0.00 0.29 0.50 0.48 0.22 0.10 0.20 0.20 0.26
Leverage Ratio		 1.49 1.35 1.50 1.73 2.29 2.70 2.50 2.27 2.36 2.36 2.47
Compound Leverage Factor		 1.47 1.35 1.42 1.46 1.93 2.00 2.23 1.01 2.66 2.66 3.78
Debt to Total Capital		 5.26% 3.50% 16.77% 29.92% 37.38% 38.53% 22.01% 21.34% 23.71% 23.71% 23.94%
Short-Term Debt to Total Capital		 0.76% 0.63% 0.05% 0.22% 0.55% 1.01% 0.26% 0.30% 0.40% 0.40% 0.47%
Long-Term Debt to Total Capital		 4.50% 2.87% 16.72% 29.70% 36.82% 37.53% 21.74% 21.04% 23.31% 23.31% 23.48%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.76% 2.21% 1.96% -0.10% -0.77% -0.97% -1.10% -1.08% -1.27% -1.27% -1.31%
Common Equity to Total Capital		 92.98% 94.29% 81.27% 70.18% 63.40% 62.43% 79.10% 79.74% 77.56% 77.56% 77.36%
Debt to EBITDA		 0.16 0.10 0.63 1.36 2.08 2.26 0.87 1.61 -12.67 -12.67 3.35
Net Debt to EBITDA		 -1.02 -0.50 0.56 1.35 2.04 1.38 0.25 0.75 -11.92 -11.92 2.30
Long-Term Debt to EBITDA		 0.13 0.08 0.62 1.35 2.05 2.20 0.86 1.59 -12.46 -12.46 3.29
Debt to NOPAT		 0.18 0.19 1.14 2.51 4.84 6.64 1.94 12.72 -2.16 -2.16 -7.36
Net Debt to NOPAT		 -1.18 -0.93 1.02 2.48 4.74 4.05 0.56 5.93 -2.03 -2.03 -5.06
Long-Term Debt to NOPAT		 0.15 0.16 1.14 2.49 4.76 6.47 1.92 12.54 -2.13 -2.13 -7.21
Altman Z-Score		 14.72 14.47 7.59 6.27 2.52 2.69 3.16 2.42 1.75 1.75 1.95
Noncontrolling Interest Sharing Ratio		 2.46% 2.10% 2.33% 1.02% -0.72% -1.41% -1.49% -1.39% -1.52% -1.52% -1.69%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.99 2.88 2.02 2.25 2.03 2.19 1.87 1.77 1.49 1.49 1.59
Quick Ratio		 1.54 0.70 0.06 0.10 0.05 0.52 0.44 0.37 0.06 0.06 0.18
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 6.23 -13 -43 -38 -32 34 51 0.21 -10 -10 23
Operating Cash Flow to CapEx		 193.07% 70.64% 64.28% 58.63% 34.16% 432.18% 893.28% -5.16% -203.11% -203.11% 318.05%
Free Cash Flow to Firm to Interest Expense		 20.37 -68.58 -21.75 -6.35 -7.12 5.38 10.72 0.06 -2.22 -2.22 4.42
Operating Cash Flow to Interest Expense		 46.45 104.40 15.02 5.23 1.87 8.10 19.50 -0.38 -3.71 -3.71 4.65
Operating Cash Flow Less CapEx to Interest Expense		 22.39 -43.40 -8.35 -3.69 -3.60 6.23 17.32 -7.78 -5.54 -5.54 3.19
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 3.18 2.72 2.49 2.19 1.60 1.29 1.34 1.28 1.33 1.33 1.32
Accounts Receivable Turnover		 3,253.02 1,535.17 1,311.40 228.89 201.55 297.80 157.68 108.92 126.27 126.27 169.22
Inventory Turnover		 2.70 2.58 2.63 2.75 2.34 2.07 2.11 2.21 2.18 2.18 1.77
Fixed Asset Turnover		 15.84 10.17 5.82 4.10 4.05 4.89 5.90 5.33 5.13 5.13 5.42
Accounts Payable Turnover		 10.53 16.24 15.79 12.08 9.84 9.21 7.12 5.76 5.09 5.09 4.32
Days Sales Outstanding (DSO)		 0.11 0.24 0.28 1.59 1.81 1.23 2.31 3.35 2.89 2.89 2.16
Days Inventory Outstanding (DIO)		 135.04 141.60 138.69 132.60 155.87 176.35 172.68 165.31 167.69 167.69 206.26
Days Payable Outstanding (DPO)		 34.66 22.47 23.11 30.23 37.08 39.62 51.24 63.41 71.71 71.71 84.55
Cash Conversion Cycle (CCC)		 100.50 119.37 115.86 103.96 120.60 137.96 123.76 105.25 98.87 98.87 123.87
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 58 92 160 225 279 263 246 250 232 232 202
Invested Capital Turnover		 6.49 5.01 3.73 2.95 2.44 2.36 2.74 2.63 2.61 2.61 2.60
Increase / (Decrease) in Invested Capital		 22 35 68 65 54 -16 -18 4.53 -16 -16 -30
Enterprise Value (EV)		 502 726 635 817 376 479 499 249 152 152 122
Market Capitalization		 534 744 606 749 275 409 484 224 103 103 89
Book Value per Share		 $2.75 $3.43 $4.19 $4.92 $5.48 $5.89 $6.97 $6.74 $5.19 $5.19 $4.60
Tangible Book Value per Share		 $2.74 $3.42 $4.18 $4.92 $5.48 $5.89 $6.97 $6.74 $5.19 $5.19 $4.60
Total Capital		 96 118 167 228 281 310 291 282 236 236 218
Total Debt		 5.02 4.13 28 68 105 119 64 60 56 56 52
Total Long-Term Debt		 4.30 3.38 28 68 104 116 63 59 55 55 51
Net Debt		 -33 -20 25 68 103 73 19 28 53 53 36
Capital Expenditures (CapEx)		 7.36 29 46 53 24 12 10 27 8.33 8.33 7.60
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 37 43 49 65 82 70 59 47 61 61 48
Debt-free Net Working Capital (DFNWC)		 74 67 52 66 84 117 104 79 64 64 65
Net Working Capital (NWC)		 74 66 52 66 82 114 103 79 63 63 64
Net Nonoperating Expense (NNE)		 0.12 -0.03 1.04 4.08 3.23 4.60 3.49 2.49 18 18 9.14
Net Nonoperating Obligations (NNO)		 -33 -21 21 65 103 73 19 28 53 53 36
Total Depreciation and Amortization (D&A)		 2.84 4.70 7.33 13 22 29 29 31 32 32 25
Debt-free, Cash-free Net Working Capital to Revenue		 12.02% 11.39% 10.34% 11.50% 13.28% 11.04% 8.39% 7.23% 9.67% 9.67% 8.58%
Debt-free Net Working Capital to Revenue		 24.47% 17.78% 10.95% 11.63% 13.64% 18.33% 14.91% 12.15% 10.20% 10.20% 11.47%
Net Working Capital to Revenue		 24.23% 17.58% 10.93% 11.54% 13.39% 17.84% 14.80% 12.02% 10.05% 10.05% 11.29%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.09 $0.00 $0.00 $0.72 $0.59 $0.42 $0.91 $0.07 ($1.31) ($1.31) ($0.47)
Adjusted Weighted Average Basic Shares Outstanding		 25.25M 32.44M 32.58M 32.09M 32.31M 32.45M 32.62M 32.77M 33.37M 33.37M 34.62M
Adjusted Diluted Earnings per Share		 $1.06 $0.00 $0.00 $0.72 $0.58 $0.42 $0.90 $0.07 ($1.31) ($1.31) ($0.47)
Adjusted Weighted Average Diluted Shares Outstanding		 25.98M 32.44M 32.58M 32.32M 32.37M 32.58M 32.85M 32.99M 33.37M 33.37M 34.62M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 32.32M 32.44M 32.58M 32.65M 32.72M 32.91M 33.05M 33.43M 35.14M 35.14M 36.76M
Normalized Net Operating Profit after Tax (NOPAT)		 28 21 25 27 22 18 33 4.74 -20 -20 -6.25
Normalized NOPAT Margin		 9.14% 5.72% 5.23% 4.80% 3.53% 2.82% 4.73% 0.73% -3.25% -3.25% -1.11%
Pre Tax Income Margin		 9.54% 9.32% 7.53% 5.57% 3.89% 2.82% 5.65% 0.45% -6.58% -6.58% -2.67%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 95.85 181.69 18.86 6.31 6.35 3.88 9.36 1.81 -8.06 -8.06 -1.90
NOPAT to Interest Expense		 90.87 110.81 12.41 4.58 4.86 2.87 7.01 1.30 -5.67 -5.67 -1.37
EBIT Less CapEx to Interest Expense		 71.79 33.90 -4.51 -2.60 0.89 2.00 7.18 -5.59 -9.89 -9.89 -3.36
NOPAT Less CapEx to Interest Expense		 66.81 -36.99 -10.96 -4.34 -0.60 1.00 4.82 -6.10 -7.49 -7.49 -2.83
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 218.40% 1.03% 1.69% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 218.40% 1.03% 1.69% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Duluth

This table displays calculated financial ratios and metrics derived from Duluth's official financial filings.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 7/30/2023 10/29/2023 2/2/2025 4/28/2024 7/28/2024 11/2/2025 2/2/2025 5/4/2025
DEI Shares Outstanding		 34,559,028.00 34,576,328.00 - - - 36,691,778.00 35,177,154.00 35,138,548.00
DEI Adjusted Shares Outstanding		 34,559,028.00 34,576,328.00 - - - 36,691,778.00 35,177,154.00 35,138,548.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.06 -0.30 - - - -0.28 -0.77 -0.44
Growth Metrics		 - - - - - - - -
Revenue Growth		 -1.70% -6.06% -4.07% -5.72% 1.81% -16.89% 7.22% -11.98%
EBITDA Growth		 -48.13% -1,702.94% -327.73% -123.37% -29.67% 31.80% -146.51% -718.75%
EBIT Growth		 -133.80% -68.82% -324.60% -103.48% -180.43% 28.63% -324.04% -39.73%
NOPAT Growth		 -134.22% -68.17% -260.39% -97.21% -169.30% 28.92% -320.54% -37.69%
Net Income Growth		 -185.95% -67.77% -477.92% -102.86% -85.54% 3.89% -519.94% -94.08%
EPS Growth		 -185.71% -68.42% -478.57% -100.00% -83.33% 9.38% -510.00% -87.50%
Operating Cash Flow Growth		 235.06% -201.49% -54.05% -140.94% 30.57% 77.55% -79.62% -67.72%
Free Cash Flow Firm Growth		 98.87% 23.91% 148.72% 79.39% 1,757.62% 280.33% -92.88% 1,000.66%
Invested Capital Growth		 -0.12% 6.60% -6.33% 0.23% -5.16% -18.38% -6.33% -25.44%
Revenue Q/Q Growth		 12.40% -0.64% 77.53% 0.00% 21.37% -12.79% 129.26% -61.00%
EBITDA Q/Q Growth		 103.22% -162.33% 21.39% 0.00% 711.51% -172.46% -225.25% 31.89%
EBIT Q/Q Growth		 69.69% -828.11% 17.77% 0.00% 58.22% -508.54% -140.12% 41.02%
NOPAT Q/Q Growth		 68.28% -761.26% 18.37% 0.00% 56.68% -453.16% -142.90% 42.44%
Net Income Q/Q Growth		 48.10% -420.58% 4.47% 0.00% 52.54% -878.58% -167.93% 43.41%
EPS Q/Q Growth		 50.00% -433.33% 4.71% 0.00% 54.17% -825.00% -182.76% 45.12%
Operating Cash Flow Q/Q Growth		 191.06% -333.87% 172.45% 0.00% 149.35% -172.36% 312.58% -497.68%
Free Cash Flow Firm Q/Q Growth		 97.94% -3,871.15% 134.42% 0.00% 265.70% 93.49% -98.67% 9,371.95%
Invested Capital Q/Q Growth		 -1.27% 10.35% -16.02% 0.00% -6.58% -0.23% -6.11% -10.49%
Profitability Metrics		 - - - - - - - -
Gross Margin		 51.39% 50.22% 45.21% 52.81% 52.25% 53.84% 42.92% 51.95%
EBITDA Margin		 4.40% -2.76% -4.89% -0.60% 3.04% -2.27% -3.21% -5.61%
Operating Margin		 -1.04% -8.99% -8.18% -7.69% -2.74% -7.69% -8.15% -12.03%
EBIT Margin		 -0.96% -8.96% -8.23% -7.67% -2.64% -7.69% -8.06% -12.18%
Profit (Net Income) Margin		 -1.45% -7.58% -12.08% -6.74% -2.64% -8.76% -10.24% -14.86%
Tax Burden Percent		 90.88% 77.01% 135.61% 79.06% 78.94% 100.00% 122.17% 109.08%
Interest Burden Percent		 165.97% 109.85% 108.19% 111.09% 126.41% 113.93% 104.06% 111.84%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -1.72% -13.78% -14.94% 0.00% 0.00% -11.91% -14.89% -21.20%
ROIC Less NNEP Spread (ROIC-NNEP)		 -3.69% -16.08% -50.52% 0.00% 0.00% -16.26% -44.55% -32.74%
Return on Net Nonoperating Assets (RNNOA)		 -0.84% -5.75% -10.20% 0.00% 0.00% -7.82% -8.99% -10.10%
Return on Equity (ROE)		 -2.56% -19.53% -25.14% 0.00% 0.00% -19.73% -23.88% -31.30%
Cash Return on Invested Capital (CROIC)		 -0.57% -8.23% -4.22% -0.23% 5.30% 18.57% -4.22% 17.57%
Operating Return on Assets (OROA)		 -1.25% -10.73% -10.94% 0.00% 0.00% -9.42% -10.70% -17.52%
Return on Assets (ROA)		 -1.89% -9.07% -16.04% 0.00% 0.00% -10.74% -13.60% -21.37%
Return on Common Equity (ROCE)		 -2.60% -19.82% -25.52% 0.00% 0.00% -20.06% -24.24% -31.79%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.01 -8.70 -13 -6.28 -2.72 -6.18 -15 -8.65
NOPAT Margin		 -0.73% -6.29% -5.72% -5.38% -1.92% -5.38% -5.70% -8.42%
Net Nonoperating Expense Percent (NNEP)		 1.97% 2.29% 35.58% 2.70% 2.05% 4.35% 29.66% 11.54%
Return On Investment Capital (ROIC_SIMPLE)		 -0.35% -2.80% -5.48% - - -2.42% -6.38% -4.04%
Cost of Revenue to Revenue		 48.61% 49.78% 54.79% 47.19% 47.75% 46.16% 57.08% 48.05%
SG&A Expenses to Revenue		 52.43% 59.21% 49.95% 60.50% 53.87% 61.53% 48.44% 63.44%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 52.43% 59.21% 53.38% 60.50% 54.99% 61.53% 51.06% 63.98%
Earnings before Interest and Taxes (EBIT)		 -1.33 -12 -19 -8.96 -3.74 -8.84 -21 -13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 6.12 -3.82 -11 -0.70 4.31 -2.60 -8.46 -5.76
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 1.05 0.82 0.56 0.69 0.62 0.63 0.56 0.40
Price to Tangible Book Value (P/TBV)		 1.05 0.82 0.56 0.69 0.62 0.63 0.56 0.40
Price to Revenue (P/Rev)		 0.37 0.28 0.16 0.00 0.00 0.17 0.16 0.10
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.04 0.87 0.66 0.76 0.68 0.76 0.66 0.54
Enterprise Value to Revenue (EV/Rev)		 0.44 0.41 0.24 0.00 0.00 0.31 0.24 0.18
Enterprise Value to EBITDA (EV/EBITDA)		 10.17 10.94 0.00 0.00 0.00 8.43 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.43 14.15 0.00 0.00 0.00 4.87 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 12.58 3.67 0.00 2.61
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.28 0.45 0.31 0.33 0.27 0.62 0.31 0.37
Long-Term Debt to Equity		 0.28 0.28 0.31 0.27 0.27 0.33 0.31 0.32
Financial Leverage		 0.23 0.36 0.20 0.27 0.23 0.48 0.20 0.31
Leverage Ratio		 2.23 2.48 2.36 2.18 2.27 2.68 2.36 2.29
Compound Leverage Factor		 3.69 2.73 2.56 2.43 2.87 3.05 2.46 2.56
Debt to Total Capital		 21.79% 31.26% 23.71% 24.60% 21.29% 38.28% 23.71% 26.82%
Short-Term Debt to Total Capital		 0.28% 11.84% 0.40% 4.16% 0.33% 17.84% 0.40% 3.30%
Long-Term Debt to Total Capital		 21.51% 19.43% 23.31% 20.44% 20.96% 20.44% 23.31% 23.53%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 -1.13% -1.04% -1.27% -1.07% -1.12% -1.14% -1.27% -1.31%
Common Equity to Total Capital		 79.34% 69.78% 77.56% 76.47% 79.83% 62.86% 77.56% 74.49%
Debt to EBITDA		 2.21 4.04 -12.67 0.00 0.00 4.39 -12.67 -6.06
Net Debt to EBITDA		 1.82 3.70 -11.92 0.00 0.00 4.03 -11.92 -5.41
Long-Term Debt to EBITDA		 2.19 2.51 -12.46 0.00 0.00 2.35 -12.46 -5.32
Debt to NOPAT		 -32.95 -17.96 -2.16 0.00 0.00 -21.32 -2.16 -2.04
Net Debt to NOPAT		 -27.05 -16.45 -2.03 0.00 0.00 -19.54 -2.03 -1.82
Long-Term Debt to NOPAT		 -32.52 -11.16 -2.13 0.00 0.00 -11.38 -2.13 -1.79
Altman Z-Score		 2.35 1.94 1.88 0.83 0.78 1.73 1.86 2.06
Noncontrolling Interest Sharing Ratio		 -1.44% -1.50% -1.52% -1.43% -1.44% -1.65% -1.52% -1.57%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 1.79 1.44 1.49 1.79 1.63 1.29 1.49 1.62
Quick Ratio		 0.16 0.10 0.06 0.18 0.14 0.08 0.06 0.08
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -0.69 -27 2.77 -6.91 11 49 0.66 62
Operating Cash Flow to CapEx		 126.09% -351.12% 1,637.84% -2,207.61% 1,002.05% -295.27% 569.06% -4,238.96%
Free Cash Flow to Firm to Interest Expense		 -0.79 -22.51 1.82 -6.96 11.59 40.20 0.76 42.05
Operating Cash Flow to Interest Expense		 14.46 -24.41 27.09 -33.90 16.82 -5.43 16.49 -38.12
Operating Cash Flow Less CapEx to Interest Expense		 2.99 -31.36 25.44 -35.44 15.14 -7.26 13.59 -39.02
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 1.31 1.20 1.33 0.00 0.00 1.23 1.33 1.44
Accounts Receivable Turnover		 113.13 105.86 126.27 0.00 0.00 110.91 126.27 99.41
Inventory Turnover		 1.95 1.65 2.18 0.00 0.00 1.61 2.18 2.32
Fixed Asset Turnover		 5.42 5.21 5.13 0.00 0.00 5.21 5.13 5.61
Accounts Payable Turnover		 5.56 4.76 5.09 0.00 0.00 4.41 5.09 8.06
Days Sales Outstanding (DSO)		 3.23 3.45 2.89 0.00 0.00 3.29 2.89 3.67
Days Inventory Outstanding (DIO)		 187.02 221.18 167.69 0.00 0.00 226.55 167.69 157.07
Days Payable Outstanding (DPO)		 65.63 76.73 71.71 0.00 0.00 82.73 71.71 45.27
Cash Conversion Cycle (CCC)		 124.62 147.90 98.87 0.00 0.00 147.11 98.87 115.47
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 275 303 232 279 260 247 232 208
Invested Capital Turnover		 2.37 2.19 2.61 0.00 0.00 2.21 2.61 2.52
Increase / (Decrease) in Invested Capital		 -0.32 19 -16 0.63 -14 -56 -16 -71
Enterprise Value (EV)		 286 263 152 211 178 188 152 112
Market Capitalization		 238 177 103 151 134 101 103 63
Book Value per Share		 $6.56 $6.28 $5.19 $6.35 $6.15 $4.38 $5.19 $4.54
Tangible Book Value per Share		 $6.56 $6.28 $5.19 $6.35 $6.15 $4.38 $5.19 $4.54
Total Capital		 286 311 236 286 270 255 236 214
Total Debt		 62 97 56 70 58 98 56 57
Total Long-Term Debt		 61 60 55 58 57 52 55 50
Net Debt		 51 89 53 63 48 90 53 51
Capital Expenditures (CapEx)		 10 8.48 2.52 1.53 1.66 2.26 2.50 1.33
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 74 91 61 81 71 88 61 63
Debt-free Net Working Capital (DFNWC)		 85 99 64 88 81 97 64 69
Net Working Capital (NWC)		 85 62 63 76 80 51 63 62
Net Nonoperating Expense (NNE)		 1.00 1.77 14 1.59 1.01 3.88 12 6.62
Net Nonoperating Obligations (NNO)		 51 89 53 63 48 90 53 51
Total Depreciation and Amortization (D&A)		 7.46 8.57 7.55 8.25 8.05 6.23 13 6.75
Debt-free, Cash-free Net Working Capital to Revenue		 11.39% 14.15% 9.67% 0.00% 0.00% 14.53% 9.67% 10.32%
Debt-free Net Working Capital to Revenue		 13.10% 15.42% 10.20% 0.00% 0.00% 15.87% 10.20% 11.32%
Net Working Capital to Revenue		 12.98% 9.69% 10.05% 0.00% 0.00% 8.39% 10.05% 10.17%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.06) ($0.32) ($0.81) ($0.24) ($0.11) ($0.29) ($0.82) ($0.45)
Adjusted Weighted Average Basic Shares Outstanding		 32.95M 32.99M 33.37M 33.09M 33.37M 34.52M 33.37M 33.71M
Adjusted Diluted Earnings per Share		 ($0.06) ($0.32) ($0.81) ($0.24) ($0.11) ($0.29) ($0.82) ($0.45)
Adjusted Weighted Average Diluted Shares Outstanding		 32.95M 32.99M 33.37M 33.09M 33.37M 34.52M 33.37M 33.71M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 34.58M 34.48M 35.14M 35.07M 35.04M 36.73M 35.14M 38.00M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.01 -8.70 -13 -6.28 -1.60 -6.18 -15 -8.26
Normalized NOPAT Margin		 -0.73% -6.29% -5.72% -5.38% -1.13% -5.38% -5.70% -8.04%
Pre Tax Income Margin		 -1.59% -9.84% -8.91% -8.53% -3.34% -8.76% -8.38% -13.63%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 -1.52 -10.16 -12.21 -9.02 -3.79 -7.18 -24.64 -8.45
NOPAT to Interest Expense		 -1.15 -7.14 -8.49 -6.32 -2.75 -5.02 -17.45 -5.84
EBIT Less CapEx to Interest Expense		 -12.98 -17.11 -13.86 -10.55 -5.46 -9.02 -27.54 -9.35
NOPAT Less CapEx to Interest Expense		 -12.61 -14.09 -10.14 -7.86 -4.43 -6.86 -20.34 -6.74
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Duluth Holdings (NASDAQ: DLTH) is still struggling to turn revenue into consistent profit, even though there were some signs of better quarterly cash generation in parts of the last year. The company’s most recent quarter, Q1 2026, showed lower revenue, a wider net loss, and negative operating cash flow, while the balance sheet remains burdened by a large inventory position and meaningful debt.

  • Q1 2026 operating cash flow was negative but not catastrophic relative to the balance sheet: DLTH used $56.5 million in operating cash in the quarter, but it still ended with $6.1 million in cash and equivalents and generated a $5.2 million increase in total cash and equivalents after financing activities.
  • Gross profit remained solid in Q1 2026: gross profit was $53.4 million on $102.7 million of revenue, showing the company can still produce healthy product margin before overhead.
  • Debt was refinanced and supported liquidity in Q1 2026: the company issued $64.5 million of debt during the quarter, helping offset operating losses and funding needs.
  • Inventory came down sharply from late 2025: inventories fell to $132.4 million in Q1 2026 from $192.2 million in Q3 2025, which may help reduce working-capital pressure if the trend continues.
  • Q1 2026 revenue seasonally looked lighter: sales were $102.7 million, down from $114.9 million in Q3 2025 and well below Q4 2025’s $263.4 million holiday quarter.
  • Share count is still elevated: weighted average diluted shares were 33.7 million in Q1 2026, which limits per-share recovery if profitability improves slowly.
  • Depreciation and non-cash charges remain significant: these items helped partially offset losses in cash flow, but they also highlight a capital-intensive business model.
  • Q1 2026 net loss widened year over year: net loss attributable to common shareholders was $15.3 million, or $(0.45) per share, versus a $7.9 million loss, or $(0.24) per share, in Q1 2025.
  • Operating performance deteriorated sharply in the latest quarter: operating income was a loss of $12.4 million in Q1 2026, compared with a loss of $9.0 million in Q1 2025.
  • Margins remain under pressure from SG&A: selling, general and administrative expense was $65.2 million in Q1 2026, which exceeded gross profit and drove the operating loss.
  • The balance sheet is highly leveraged: total liabilities were $224.1 million against $159.4 million of common equity at the end of Q1 2026, and debt plus lease obligations remain material.
  • Inventory is still large relative to sales: $132.4 million of inventory is a heavy balance for a company with quarterly revenue just above $100 million, raising execution and markdown risk.
  • Q4 2025 looked worse than Q1 2026 on operating cash flow: the company generated $14.2 million of operating cash in Q4 2025, but that improvement was not sustained in Q1 2026, when operating cash flow swung to a large outflow.
  • Historically, the last four years show inconsistent profitability: Q2 2025 briefly produced operating income of $2.4 million and net income of $1.3 million, but most other periods in the dataset were loss-making.

Bottom line: Duluth is showing some ability to manage liquidity and occasionally generate profit in stronger quarters, but the broader trend is still weak. Revenue is uneven, SG&A is too high relative to gross profit, and debt/inventory remain key risks. For retail investors, the stock appears to be a turnaround story that still needs clearer evidence of sustained margin improvement and positive operating cash flow.

07/18/26 06:09 AM ETAI Generated. May Contain Errors.

Duluth Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Duluth's fiscal year ends in February. Their fiscal year 2026 ended on February 1, 2026.

Duluth's net income appears to be on a downward trend, with a most recent value of -$16.25 million in 2026, falling from $27.69 million in 2016. The previous period was -$43.61 million in 2025. See where experts think Duluth is headed by visiting Duluth's forecast page.

Duluth's total operating income in 2026 was -$10.16 million, based on the following breakdown:
  • Total Gross Profit: $301.61 million
  • Total Operating Expenses: $311.77 million

Over the last 10 years, Duluth's total revenue changed from $304.16 million in 2016 to $565.18 million in 2026, a change of 85.8%.

Duluth's total liabilities were at $236.49 million at the end of 2026, a 13.3% decrease from 2025, and a 684.8% increase since 2016.

In the past 10 years, Duluth's cash and equivalents has ranged from $731 thousand in 2019 to $46.58 million in 2021, and is currently $16.35 million as of their latest financial filing in 2026.

Over the last 10 years, Duluth's book value per share changed from 2.75 in 2016 to 4.60 in 2026, a change of 67.4%.


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Financial statements for NASDAQ:DLTH last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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