DLTH
Duluth Holdings Inc.
DLTH's fundamentals are mixed, but it looks expensive: trading at 26x earnings, above its usual 18x. Analysts expect losses to shrink.
DLTH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
DLTH's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
DLTH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 13x | $1.88 | -52% |
| Fair | 18x | $2.66 | -32% |
| Current | 26x | $3.90 | — |
| Expensive | 29x | $4.40 | +13% |
Historical ranges are pointers, not guarantees.
DLTH's PE is in its expensive range at 26x.
DLTH Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect DLTH's losses to shrink, with revenue holding steady.
DLTH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.15 | +$1.52 |
| Q2 2026 | -$0.31 | +$1.21 |
| Q1 2026 | -$0.47 | +$0.84 |
| Q4 2025 | -$0.81 | +$0.17 |
| Q3 2025 | -$1.37 | -$0.92 |
| Q2 2025 | -$1.52 | -$1.12 |
| Q1 2025 | -$1.31 | -$1.03 |
| Q4 2024 | -$0.98 | -$0.71 |
DLTH has returned to profit: it earned $0.15 per share over the past year, after losing money the year before.
DLTH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $121.4M | -7.8% |
| Q2 2026 | $98.6M | -4% |
| Q1 2026 | $215.9M | -11% |
| Q4 2025 | $114.9M | -9.6% |
| Q3 2025 | $131.7M | -7% |
| Q2 2025 | $102.7M | -12% |
| Q1 2025 | $241.3M | -1.8% |
| Q4 2024 | $127.1M | -8.1% |
DLTH's revenue has slid since its 2022 peak: $121M last quarter, down 7.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | +14 points |
| Q2 2026 | -9.4% | +2.7 points |
| Q1 2026 | 4% | +4.6 points |
| Q4 2025 | -7.7% | +10 points |
| Q3 2025 | 1.8% | +4.6 points |
| Q2 2025 | -12% | -4.3 points |
| Q1 2025 | -0.6% | -4.5 points |
| Q4 2024 | -18% | -8.8 points |
DLTH's operating margin was 16% last quarter, up 14 points from the same quarter a year ago, near the top of its range since 2019.
DLTH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $28.2M | -5.5% |
| Q2 2026 | -$15.2M | +$42.6M |
| Q1 2026 | $53.5M | +38% |
| Q4 2025 | -$8.9M | +$34.8M |
| Q3 2025 | $29.8M | +99% |
| Q2 2025 | -$57.8M | -$22.6M |
| Q1 2025 | $38.7M | -36% |
| Q4 2024 | -$43.7M | -$5.5M |
DLTH's free cash flow has turned positive after four years mostly in the red: $58M over the past year.
DLTH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +4.8% | +1.7M shares |
| 1 year | +5% | +1.7M shares |
| 3 years | +10% | +3.4M shares |
| 5 years | +11% | +3.6M shares |
| Available history | +13% | +4.1M shares |
DLTH has 36M diluted shares, up 5% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2020 | $1,000 |
DLTH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.8x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | -1.0x | Net Cash |
| Q4 2025 | 5.4x | High |
| Q4 2024 | 4.7x | High |
| Q3 2024 | -0.5x | Net Cash |
| Q2 2024 | 0.3x | Very low |
| Q1 2024 | -1.3x | Net Cash |
DLTH has more cash than debt.
DLTH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.2 | Neutral |
| Stochastic | 44.2 | Neutral |
DLTH's weekly RSI is 50 (neutral) and its Stochastic is 44 (neutral).
DLTH PE vs Consumer Cyclical Sector
| Metric | DLTH | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 18x | 44% above |
| PE % | 73 | 47 | 26 pts above |
DLTH is trading at 26x earnings, a 44% premium to the Consumer Cyclical sector's median of 18x.
DLTH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.99 | 2.3% below |
| 20 week MA | $4.11 | 5.1% below |
| 50 week MA | $3.40 | 15% above |
| 100 week MA | $2.98 | 31% above |
| 200 week MA | $4.03 | 3.2% below |
DLTH's trend is mixed: it's above two of its five weekly moving averages, and 3.2% below its 200-week average.
DLTH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.3 | $11.2 | +8.6% |
| 2021 | $11.2 | $15.1 | +35% |
| 2022 | $15.1 | $5.90 | -61% |
| 2023 | $5.90 | $5.38 | -8.8% |
| 2024 | $5.38 | $3.03 | -44% |
| 2025 | $3.03 | $2.11 | -30% |
| 2026 YTD | $2.11 | $3.90 | +85% |
DLTH has finished four years in a row lower, and it's up 85% so far in 2026.