DLTHNasdaqRetail-Apparel & Accessory StoresFiscal year ends February 1
DULUTH HOLDINGS INC.
Financials through Q2 FY2027, quarter ended Aug 2, 2026Last filing: 10-Q on Sep 4, 2026
$3.99−0.01 (-0.25%)
Close on Oct 19, 2026
- Market cap
- $145.16M
- P/E (TTM)
- 28.5
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2013 to 2026
Gross margin
53.4%+1.5 pts over 5 years
Operating margin
-1.8%−5.6 pts over 5 years
Net margin
-2.9%−5.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -9.8% | -4.7% | -2.4% | +6.4% | |
| Gross profit | -2.2% | -4.2% | -1.9% | +5.7% | |
| Free cash flow | – | – | -15.7% | +9.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 21.3% | 7.3% | -9.3% | |
| Return on assets | 15.4% | 2.7% | -3.8% | |
| Current ratio | 2.88 | 2.19 | 1.59 | |
| Debt to equity | 0.01 | – | – | |
| Net debt to EBITDA | -0.62× | – | – | |
| Interest coverage | 180.4× | 3.9× | -2.0× | |
| Inventory turnover | 2.6× | 2.1× | 1.8× | |
| Capex to revenue | 7.6% | 1.8% | 1.3% | |
| Diluted shares | – | 33M | 35M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Duluth generated $173.14M from operations and spent $102.43M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$173.14M
Used
$102.43M
Capital expenditure$102.43M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-2.9%
×Asset turnover1.32×
×Equity multiplier2.43×
=Return on equity, FY2026-9.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | -2.9% | 1.32× | 2.43× | -9.3% |
| FY2025 | -7.0% | 1.33× | 2.33× | -21.5% |
| FY2024 | -1.5% | 1.27× | 2.25× | -4.4% |
| FY2023 | 0.4% | 1.25× | 2.29× | 1.0% |
| FY2022 | 4.3% | 1.36× | 2.46× | 14.2% |
| FY2021 | 2.1% | 1.29× | 2.66× | 7.3% |
| FY2020 | 3.1% | 1.60× | 2.27× | 11.2% |
| FY2019 | 4.1% | 2.19× | 1.75× | 15.6% |
| FY2018 | 5.0% | 2.49× | 1.53× | 18.9% |
| FY2017 | 5.7% | 2.72× | 1.38× | 21.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
5of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero-$16.39M
- Cash generatingOperating cash flow above zero$24.17M
- Return on assets improvedROA up on the prior year-8.9% → -3.6%
- Earnings backed by cashOperating cash flow above net income$24.17M vs -$16.39M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.49 → 1.59
- No dilutionShare count did not rise33M → 35M
- Gross margin improvedGross margin up on the prior year49.23% → 53.37%
- More efficientAsset turnover rose1.28 → 1.25