StockData
Duluth Holdings Inc. logo

Duluth Holdings Inc. (DLTH) stock analysis

DLTHNasdaqRetail-Apparel & Accessory StoresFiscal year ends February 1
Financials through Q2 FY2027, quarter ended Aug 2, 2026Last filing: 10-Q on Sep 4, 2026Score 7/3014% below fair value
$3.96+0.16 (+4.21%)

Close on Nov 11, 2026Market cap $150.50MP/E 28.3Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value3Growth1Performance2Health1Dividend0

Weak7 of 30 checks passed

Duluth passes 7 of the 30 checks behind our score; 12 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
3/6
Growth
1/6
Past performance
2/6
Financial health
1/6
Dividend
0/6

What stands out

  • Trading below fair value

    The share price of $3.96 is below our fair value estimate of $4.61.

  • EV/EBITDA below its 5-year median

    Duluth's EV/EBITDA of 3.7 is below its 5-year median of 5.7.

  • P/B below the industry

    Duluth's price-to-book of 0.85 is below the Apparel and Accessory Stores median of 1.98.

  • Gross margin improving

    Gross margin was 58.3% over the last twelve months, against 49.5% a year earlier.

What to watch

  • Margin of safety under 20%

    The price is 14.2% below fair value, less than the 20% cushion we look for.

  • Return on equity under 15%

    Return on equity was 3.4% over the last twelve months and averaged -4.0% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was 4.7%, below the 10% that usually covers the cost of capital.

  • Revenue growing under 10% a year

    Revenue grew -4.7% a year over the last three fiscal years, short of the 10% we look for.

Valuation3/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E above the industry

    Duluth's P/E of 28.3 is above the Apparel and Accessory Stores median of 19.2.

  • EV/EBITDA below its 5-year median

    Duluth's EV/EBITDA of 3.7 is below its 5-year median of 5.7.

  • P/B below the industry

    Duluth's price-to-book of 0.85 is below the Apparel and Accessory Stores median of 1.98.

  • Trading below fair value

    The share price of $3.96 is below our fair value estimate of $4.61.

  • Margin of safety under 20%

    The price is 14.2% below fair value, less than the 20% cushion we look for.

Growth1/6

  • Revenue growing under 10% a year

    Revenue grew -4.7% a year over the last three fiscal years, short of the 10% we look for.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing slower than the industry

    Revenue grew -8.6% over the last twelve months; the Apparel and Accessory Stores median is 6.1%.

  • Guidance lowered

    Duluth lowered its Fiscal 2026 EBITDA outlook on Sep 3, 2026.

  • Gross margin improving

    Gross margin was 58.3% over the last twelve months, against 49.5% a year earlier.

Past performance2/6

  • Return on equity under 15%

    Return on equity was 3.4% over the last twelve months and averaged -4.0% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was 4.7%, below the 10% that usually covers the cost of capital.

  • Return on equity below the industry

    Duluth's return on equity of 3.4% is below the Apparel and Accessory Stores median of 16.8%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin above its 5-year average

    Net margin was 1.1% over the last twelve months, against a 5-year average of -1.4%.

  • Net margin above the industry

    Duluth's net margin of 1.1% is above the Apparel and Accessory Stores median of 0.7%.

Financial health1/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt coverage

    Needs operating cash flow.

  • Interest not well covered

    Operating income covers interest expense 2.5 times; we look for at least 5.

  • Short-term assets cover short-term debts

    Current assets are 1.88 times current liabilities.

  • Bankruptcy risk in the grey zone

    The Altman Z-score is 2.40; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Duluth has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$4.61

The share price is 14% below this estimate.

20%+ below
Near fair value
20%+ above
$3.96Price$4.61Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E19.2×–19.2×$2.6947%
EV/EBITDA6.4×5.7×7.2×$6.2941%
P/B1.4×0.8×2.0×$6.4312%
Fair value$4.61100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Apparel and Accessory Stores median 19.2

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

High risk

Average value traded per day
$247.10K
Value traded per 1% price move
$143.95K

Downside

High risk

Typical loss in a bad month
32.5%
Volatility (annualized)
83%
Sharpe ratio, 1 year
0.40
Beta to the S&P 500 (5Y)
0.70

Typical bad-month loss, week by week

25%: high

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

See a number that looks wrong?