DLTH
Duluth Holdings Inc.
DLTH's outlook is improving despite an expensive valuation.
NIO
NIO Inc.
NIO has the edge over DLTH overall, supported by stronger valuation and stronger fundamentals.
DLTH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
DLTH's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
NIO Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Stable | |
| Unavailable |
NIO's revenue is currently strong, and its profitability and cash flow are stable. There isn't enough data to rate its balance sheet.
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.
NIO PE Valuation
NIO has no meaningful PE right now: it lost money over the past year.
DLTH Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect DLTH's losses to shrink, with revenue holding steady.
NIO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
NIO has the edge over DLTH on the outlook, with more favorable revenue expectations.
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 the edge over NIO on earnings quality, reporting a profit while its opponent remains loss making.
NIO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$0.29 | +$1.45 |
| Q1 2026 | -$0.60 | +$1.16 |
| Q4 2025 | -$1.06 | +$0.60 |
| Q3 2025 | -$1.59 | +$0.02 |
| Q2 2025 | -$1.74 | -$0.10 |
| Q1 2025 | -$1.76 | +$0.06 |
| Q4 2024 | -$1.66 | +$0.21 |
| Q3 2024 | -$1.61 | +$0.32 |
NIO is still losing money, but far less than before: $0.29 per share over the past year, against $1.93 at its worst in late 2023.
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 has the edge over NIO on profitability, with a higher operating margin.
NIO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $4.8B | +69% |
| Q1 2026 | $3.8B | +112% |
| Q4 2025 | $5.2B | +76% |
| Q3 2025 | $3.3B | +17% |
| Q2 2025 | $2.9B | +9% |
| Q1 2025 | $1.8B | +21% |
| Q4 2024 | $3B | +15% |
| Q3 2024 | $2.8B | -2.1% |
NIO has the edge over DLTH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -2.1% | +24 points |
| Q1 2026 | -1.2% | +52 points |
| Q4 2025 | 2.3% | +33 points |
| Q3 2025 | -16% | +12 points |
| Q2 2025 | -26% | +4 points |
| Q1 2025 | -53% | +1.1 points |
| Q4 2024 | -31% | +8.1 points |
| Q3 2024 | -28% | -2.6 points |
NIO's operating margin was −2.1% last quarter, up 24 points from the same quarter a year ago.
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.
NIO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $0 | +$2.1B |
| Q1 2026 | $0 | $0 |
| Q4 2025 | $0 | +$391.3M |
| Q3 2025 | $0 | $0 |
| Q2 2025 | -$2.1B | +$73.9M |
| Q1 2025 | $0 | $0 |
| Q4 2024 | -$391.3M | -386% |
| Q2 2024 | -$2.2B | +$337.9M |
NIO's free cash flow was $0 over the past year, against −$2.5B the year before.
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 the edge over NIO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q1 2020 | $1,000 |
NIO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +15.6M shares |
| 1 year | +12% | +267M shares |
| 3 years | +51% | +844M shares |
| 5 years | +60% | +933M shares |
| Available history | +143% | +1.5B shares |
NIO has 2.5B diluted shares, up 12% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
NIO hasn't bought back shares in the past year.
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.
NIO Net Leverage
NIO's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
NIO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 30.7 | Neutral |
| Stochastic | 6.9 | Oversold |
NIO's weekly RSI is 31 (neutral) and its Stochastic is 7 (oversold).
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.
NIO PE vs Consumer Cyclical Sector
NIO has no meaningful PE right now: it lost money over the past year.
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 has the edge over NIO on trend strength, trading above more of its moving averages.
NIO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.36 | 9.2% below |
| 20 week MA | $4.01 | 24% below |
| 50 week MA | $4.81 | 37% below |
| 100 week MA | $4.85 | 37% below |
| 200 week MA | $6.03 | 49% below |
NIO is in a downtrend: it's below all five of its weekly moving averages, and 49% 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 the edge over NIO on returns for 2026, with the stronger performance.
NIO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $2.42 | $45.8 | +1791% |
| 2021 | $45.8 | $30.5 | -33% |
| 2022 | $30.5 | $11.0 | -64% |
| 2023 | $11.0 | $9.07 | -17% |
| 2024 | $9.07 | $4.48 | -51% |
| 2025 | $4.48 | $5.10 | +14% |
| 2026 YTD | $5.10 | $3.05 | -40% |
NIO's yearly returns have swung widely, from +1791% in 2020 to −64% in 2022. It's down 40% so far in 2026.