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Duluth Holdings Inc.

DLTH Consumer Cyclical Apparel Retail

Duluth Holdings Inc.’s revenue for fiscal 2026 (year ended January 2026) was $565.2 million, down 9.81% from fiscal 2025.

Revenue
−7.84%
EPS
+1,200.0%
Free cash flow
−5.47%
Total debt
−41.7%

Quarter to July 2026, against a year earlier

4.07 0.34 −7.71%
Market cap
$155.1M
P/E
25.4×
Fwd P/E
−9.2×
Dividend yield
—
F-score
5/9
Altman Z
1.94
Beneish M
−3.29
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.06
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 62.89%

Capital & Financial Ratios $m

Size
Market Cap 155.06
Revenue ttm 550.75
Net income ttm 6.09
Free cash flow ttm 57.54
Net debt Q 23.65
Valuation
P/E 25.44
Forward P/E (9.15) (negative: loss-making)
Price / sales 0.26
Forward P/S Powerpack
Price / FCF 2.49
Price / book 0.82
Financial health
Current ratio Q 1.88 (at or above 1.5: strong)
Debt / equity Q 0.29 (at or below 0.5: strong)
Interest coverage Q 24.54
Growth
Revenue growth Q −7.84% (below 0%: shrinking)
Operating income growth Q +684.60% (above 0%: growing)
EPS, this year +72.09% (at or above 15%: strong)
EPS, next year A +79.17% (at or above 15%: strong)
Revenue, next year A −3.25% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +25.00% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.3×, against a ten-year median of 0.6×; over the ten years it ranged from 0.2× in 2025 to 3.1× in 2016.
P/E against its own 10 years 51.41%
10-year low 10-year high
P/S against its own 10 years 26.88%
10-year low 10-year high
P/B against its own 10 years 27.43%
10-year low 10-year high
EV/Sales against its own 10 years 17.35%
10-year low 10-year high
EV/FCF against its own 10 years 6.65%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 32 3 16 27
Receivables 7 4 3 2
Inventory 126 167 131 125
Other — — — —
181 192 172 183
2024 2025 2026 Q'26
Payables 51 74 48 47
ST’ Debt 1 1 1 1
Other — — — —
106 129 108 97

Compound Annual Growth %

10y 5y 3y
Sales 6.39% (2.42%) (4.72%)
Cash Flow 5.45% (13.79%) 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 6.26% (2.70%) (9.91%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.05 Actual 0.06

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 −0.56 −0.23 Beat by 0.33
Q4 FY26 0.09 0.23 Beat by 0.14
Q1 FY26 −0.45 −0.20 Beat by 0.25
Q2 FY26 −0.05 0.06 Beat by 0.11
Q3 FY26 −0.32 — Reports 15 December 2026

EPS $

Apr Jul Oct Jan Year
’26 (0.29) 0.50 — — —
’26 (0.45) 0.04 (0.29) 0.22 (0.47)
’25 (0.24) (0.06) (0.85) (0.17) (1.31)
’24 (0.12) (0.06) (0.32) 0.21 (0.30)
’23 (0.04) 0.07 (0.19) 0.23 0.07
’22 0.02 0.27 0.09 0.53 0.90
’21 (0.47) 0.18 0.03 0.67 0.42
Fiscal quarters ending in the months shown.

Revenue $m

Apr Jul Oct Jan Year
’26 99 121 — — —
’26 103 132 115 216 565
’25 117 142 127 241 627
’24 124 139 138 246 647
’23 123 142 147 242 653
’22 133 149 145 271 699
’21 110 137 136 256 639
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 (13) 29 — — —
’26 (56) 32 (7) 55 24
’25 (34) 17 (41) 41 (17)
’24 (14) 13 (30) 70 39
’23 (32) (9) (10) 50 (1)
’22 12 14 6 59 92
’21 (33) 21 (16) 79 51
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 (15) 28 — — —
’26 (58) 30 (9) 54 17
’25 (35) 15 (44) 39 (25)
’24 (35) 3 (38) 61 (10)
’23 (36) (24) (15) 47 (28)
’22 10 11 2 58 82
’21 (38) 16 (18) 79 38
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Jul ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 376 471 568 616 639 699 653 647 627 565 551 +4.6% 547 564 — (0.1%)
Gross margin, % 56.94 55.37 54.64 53.30 51.90 54.01 52.57 50.25 49.23 53.37 58.33 (3.6) pt
EBT 35 36 32 24 18 39 3 (13) (41) (15) 7 n/m
EBT margin, % 9.32 7.53 5.57 3.89 2.82 5.65 0.45 (1.98) (6.58) (2.67) 1.20 (12.0) pt
Net income 22 24 23 18 13 30 2 (10) (44) (16) 6 n/m
Per share, $
Per share, $ Revenue 11.93 14.80 17.71 19.05 19.69 21.42 19.93 19.62 18.78 16.33 15.61 +3.5%
Earnings 0.68 0.73 0.73 0.59 0.42 0.91 0.07 (0.30) (1.31) (0.47) 0.16 n/m
Cash flow 0.64 0.94 0.97 0.26 1.56 2.82 (0.04) 1.17 (0.51) 0.70 1.82 +0.9%
Capex (0.91) (1.46) (1.65) (0.95) (0.38) (0.32) (0.82) (1.49) (0.25) (0.22) (0.18) (14.6%)
Free cash flow (0.27) (0.52) (0.68) (0.69) 1.19 2.50 (0.87) (0.32) (0.76) 0.48 1.63 n/m
Book value 3.61 4.37 4.99 5.45 5.87 6.83 6.93 6.67 5.38 4.80 4.97 +3.2%
Shares, m 32 32 32 32 32 33 33 33 33 35 35 +1.0%
Valuation, ×
Valuation, × P/E 33.95 24.46 32.71 14.32 30.78 16.39 95.00 0.00 0.00 0.00 25.44 24.8
P/S 1.90 1.19 1.35 0.44 0.64 0.70 0.33 0.25 0.16 0.15 0.26 0.7
P/B 6.27 4.03 4.79 1.55 2.15 2.21 0.96 0.73 0.54 0.50 0.82 2.4
EV/Sales 1.84 1.24 1.47 0.61 0.76 0.69 0.36 0.29 0.24 0.21 0.30 0.8
EV/FCF (82.34) (35.32) (38.00) (16.75) 12.53 5.91 (8.32) (18.17) (5.94) 7.18 2.91 (17.9)
Cash, $m
Cash, $m Operating cash flow 20 30 31 8 51 92 (1) 39 (17) 24 64 +2.0%
Capex (29) (46) (53) (31) (12) (10) (27) (49) (8) (8) (7) (13.7%)
Free cash flow (8) (17) (22) (22) 38 82 (28) (10) (25) 17 58 n/m
Balance, $m
Balance, $m Working capital 66 52 66 82 114 107 103 75 63 64 86 (0.4%)
Net debt (20) 25 68 103 73 (9) 19 28 53 36 24 n/m
Shareholders’ equity 114 139 160 176 190 223 227 220 180 166 175 +4.3%
Returns, %
Returns, % ROA 15.41 12.32 8.93 4.92 2.75 5.76 0.44 (1.95) (9.26) (3.83) 1.43 (19.2) pt
ROIC 23.30 14.08 10.20 6.30 5.75 12.93 1.58 (2.41) (9.92) (3.14) 2.96 (26.4) pt
ROE 20.87 18.45 15.47 11.26 7.41 14.38 1.02 (4.44) (21.87) (9.48) 3.45 (30.3) pt
People
People Employees 1,627 2,172 2,794 3,004 2,977 3,011 2,546 2,323 2,248 2,057 — +2.6%
Revenue/emp, $m 0.23 0.22 0.20 0.20 0.21 0.23 0.26 0.28 0.28 0.27 — +1.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026 · fundamentals updated 25 Oct 2026

Duluth Holdings Inc. vs peers in Apparel Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SFIX Stitch Fix, Inc. $346.5M — (loss-making) — (loss-making) +4.24% (above 0%: growing) n/m +58.59% (above 0%: growing) 43.58% (1.35%) Compare
JILL J.Jill, Inc. $342.4M 12.6× 9.9× +0.55% (above 0%: growing) +62.32% (above 0%: growing) +165.10% (above 0%: growing) 76.85% 15.68% Compare
LE Lands' End, Inc. $279.5M 0.8× 0.8× +2.71% (above 0%: growing) n/m −285.49% (below 0%: shrinking) 51.99% 4.12% Compare
CURV Torrid Holdings Inc. $239.3M — (loss-making) 25.2× −11.83% (below 0%: shrinking) +226.80% (above 0%: growing) −120.82% (below 0%: shrinking) 38.73% 6.27% Compare
ZUMZ Zumiez Inc. $223.1M 18.2× 33.0× −2.48% (below 0%: shrinking) n/m −124.82% (below 0%: shrinking) 35.34% (0.63%) Compare
DLTH Duluth Holdings Inc. $155.1M 25.4× — (loss-making) −7.84% (below 0%: shrinking) +1,200.00% (above 0%: growing) −5.47% (below 0%: shrinking) 72.79% 15.53%
TLYS Tilly's, Inc. $128.8M 59.9× 19.1× +8.10% (above 0%: growing) +154.55% (above 0%: growing) +55.77% (above 0%: growing) 35.53% 5.00% Compare
AKA a.k.a. Brands Holding Corp. $109.9M — (loss-making) — (loss-making) +9.70% (above 0%: growing) n/m −2,444.48% (below 0%: shrinking) 60.08% (2.56%) Compare
RENT Rent the Runway, Inc. $76.7M 0.2× — (loss-making) +20.77% (above 0%: growing) n/m +75.44% (above 0%: growing) 36.13% (7.98%) Compare
Median of peers $231.2M 12.6× 19.1× +3.48% +154.55% −32.52% 41.15% 1.75%

All 33 Apparel Retail stocks →

Pay and ownership Proxy statement filed 21 April 2026

Ownership

Directors and executive officers, together 66.80% of the votes
Stephen L. Schlecht 59.60% of the votes
Stephen L. Schlecht and Marianne M. Schlecht Descendants Trust 12.70% of the votes
Stephanie L. Pugliese 3.60% of the votes
Askeladden Capital Management LLC and Samir Patel 3.20% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Duluth Holdings Inc. (DLTH) Latest News

29 Oct

Impact 3 · · GlobeNewswire

6 Oct

Impact 3 · · GlobeNewswire

9 Sep

Impact 3 · · The Motley Fool transcript

3 Sep

Impact 4 ·
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Impact 3 · · MarketBeat transcript
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11 Jun

Impact 3 ·

9 Jun

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8 Jun

Impact 4 · · GuruFocus.com
Impact 4 · · GlobeNewswire
Impact 3 · · Proactive Investors
Impact 3 · · MarketBeat transcript
Impact 3 · · GlobeNewswire

19 Mar

Impact 4 · · Moby
Impact 4 · · Associated Press Finance
Impact 4 · · GlobeNewswire
Impact 3 · · GuruFocus.com
Impact 3 · · MarketBeat
Impact 3 · · Zacks

7 Jan

Impact 3 · · The Motley Fool transcript

16 Dec

Impact 4 · · GlobeNewswire
Impact 3 · · GuruFocus.com transcript
Impact 3 · · Zacks
Impact 3 · · Associated Press FinanceMT NewswiresZacksZacksAssociated Press FinanceAssociated Press FinanceAssociated Press Finance

2 Dec

Impact 3 · · Simply Wall St.

1 Nov

Impact 3 · · Simply Wall St.

5 Oct

Impact 3 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.
stockrow.com/DLTH · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com