DLTH
Duluth Holdings Inc.
DLTH offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
NKE
NIKE, Inc.
NKE has the edge over DLTH overall, supported by stronger valuation and lower modeled downside.
DLTH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
DLTH's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
NKE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Strong |
NKE's profitability and balance sheet are currently healthy, and its revenue and cash flow are 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.
NKE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 18x | $37.76 | — |
| Cheap | 23x | $47.70 | +26% |
| Forward | 30x | $37.76 | — |
| Fair | 33x | $68.16 | +80% |
| Expensive | 47x | $97.86 | +159% |
Historical ranges are pointers, not guarantees.
NKE has the edge over DLTH in the historical PE scenario, which offers more potential upside but is not a forecast.
DLTH Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
DLTH has the edge over NKE on the outlook, with more favorable earnings and revenue expectations.
NKE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Stable | |
| Decline | |
| Improving | |
| Moderate | |
| Low |
Analysts expect NKE's profitability to improve, but its revenue to decline. However, they disagree widely on these estimates.
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 NKE on earnings, with more consistent year-over-year improvement.
NKE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.27 | -39% |
| Q3 2026 | $2.09 | +7.2% |
| Q2 2026 | $2.10 | -2.8% |
| Q1 2026 | $1.51 | -50% |
| Q4 2025 | $1.70 | -48% |
| Q3 2025 | $1.95 | -44% |
| Q2 2025 | $2.16 | -42% |
| Q1 2025 | $3.01 | -11% |
| Q4 2024 | $3.24 | -5.3% |
NKE's earnings per share have fallen from their peak: $2.09 over the past year, against $3.82 in late 2021.
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 NKE on profitability, with a higher operating margin.
NKE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11.2B | -4.3% |
| Q2 2026 | $11B | -1.1% |
| Q1 2026 | $11.3B | +0.1% |
| Q4 2025 | $12.4B | +0.6% |
| Q3 2025 | $11.7B | +1.1% |
| Q2 2025 | $11.1B | -12% |
| Q1 2025 | $11.3B | -9.3% |
| Q4 2024 | $12.4B | -7.7% |
NKE has the edge over DLTH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.2% | +0.3 points |
| Q2 2026 | 12% | +9.2 points |
| Q1 2026 | 5.8% | -1.7 points |
| Q4 2025 | 8% | -3.4 points |
| Q3 2025 | 7.9% | -3.4 points |
| Q2 2025 | 2.9% | -11 points |
| Q1 2025 | 7.5% | -3.8 points |
| Q4 2024 | 11% | -2.9 points |
NKE's operating margin was 8.2% last quarter, about level with 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 has the edge over NKE on cash flow, with more consistent year-over-year improvement.
NKE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$64M | -527% |
| Q2 2026 | $1.5B | +313% |
| Q1 2026 | $284M | -83% |
| Q4 2025 | $386M | -58% |
| Q3 2025 | $15M | -95% |
| Q2 2025 | $363M | -85% |
| Q1 2025 | $1.7B | -11% |
| Q4 2024 | $920M | -65% |
NKE usually generates cash, though not every quarter: the latest was −$64M, but it generated $2.1B 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 |
NKE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +3.2M shares |
| 1 year | +0.4% | +5.2M shares |
| 3 years | -3.8% | -59.1M shares |
| 5 years | -8.4% | -135M shares |
| Available history | -6.9% | -110M shares |
NKE has the edge over DLTH on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $20M |
| Q3 2025 | $126M |
| Q2 2025 | $199M |
| Q1 2025 | $506M |
| Q4 2024 | $1.1B |
NKE has spent almost nothing on buybacks 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 the edge over NKE on leverage, with a lower net debt burden relative to earnings.
NKE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.2x | Very low |
| Q2 2026 | 0.1x | Very low |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | 0.2x | Very low |
| Q3 2024 | 0.1x | Very low |
| Q2 2024 | -0.1x | Net Cash |
| Q1 2024 | -0.0x | Very low |
| Q4 2023 | 0.1x | Very low |
NKE's net debt is less than a year of its operating earnings (EBITDA).
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).
NKE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.0 | Neutral |
| Stochastic | 57.5 | Neutral |
NKE's weekly RSI is 40 (neutral) and its Stochastic is 58 (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.
NKE PE vs Consumer Cyclical Sector
| Metric | NKE | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 18x | 0.3% above |
| PE % | 2 | 47 | 45 pts below |
NKE has the edge over DLTH on valuation relative to its sector.
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 NKE on trend strength, trading above more of its moving averages.
NKE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $36.7 | 2.8% above |
| 20 week MA | $39.2 | 3.6% below |
| 50 week MA | $48.0 | 21% below |
| 100 week MA | $58.4 | 35% below |
| 200 week MA | $79.2 | 52% below |
NKE has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 52% 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 NKE on returns for 2026, with the stronger performance.
NKE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $101.6 | $141.6 | +39% |
| 2021 | $141.6 | $165.7 | +17% |
| 2022 | $165.7 | $116.3 | -30% |
| 2023 | $116.3 | $108.6 | -6.6% |
| 2024 | $108.6 | $76.4 | -30% |
| 2025 | $76.4 | $60.9 | -20% |
| 2026 YTD | $60.9 | $37.8 | -38% |
NKE has finished four years in a row lower, and it's down 38% so far in 2026.