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Side-by-side financial comparison of CBAK Energy Technology, Inc. (CBAT) and DULUTH HOLDINGS INC. (DLTH). Click either name above to swap in a different company.
DULUTH HOLDINGS INC. is the larger business by last-quarter revenue ($114.9M vs $58.8M, roughly 2.0× CBAK Energy Technology, Inc.). DULUTH HOLDINGS INC. runs the higher net margin — -8.8% vs -12.5%, a 3.8% gap on every dollar of revenue. On growth, CBAK Energy Technology, Inc. posted the faster year-over-year revenue change (131.8% vs -9.6%). CBAK Energy Technology, Inc. produced more free cash flow last quarter ($16.1M vs $-8.9M). Over the past eight quarters, CBAK Energy Technology, Inc.'s revenue compounded faster (-0.0% CAGR vs -31.6%).
CBAK Energy Technology, Inc. is a global supplier of lithium-ion battery products including high-performance cells, modules and battery packs. It serves key segments such as electric vehicles, stationary energy storage systems and consumer electronics, with core operations in China and a worldwide customer base.
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
CBAT vs DLTH — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $58.8M | $114.9M |
| Net Profit | $-7.4M | $-10.1M |
| Gross Margin | 7.3% | 53.8% |
| Operating Margin | -13.6% | -7.7% |
| Net Margin | -12.5% | -8.8% |
| Revenue YoY | 131.8% | -9.6% |
| Net Profit YoY | -63.6% | 64.6% |
| EPS (diluted) | $-0.08 | $-0.29 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $58.8M | $114.9M | ||
| Q3 25 | $60.9M | $131.7M | ||
| Q2 25 | $40.5M | $102.7M | ||
| Q1 25 | $34.9M | $241.3M | ||
| Q4 24 | $25.4M | $127.1M | ||
| Q3 24 | $44.6M | $141.6M | ||
| Q2 24 | $47.8M | $116.7M | ||
| Q1 24 | $58.8M | $245.6M |
| Q4 25 | $-7.4M | $-10.1M | ||
| Q3 25 | $2.7M | $1.3M | ||
| Q2 25 | $-3.1M | $-15.3M | ||
| Q1 25 | $-1.6M | $-5.6M | ||
| Q4 24 | $-4.5M | $-28.2M | ||
| Q3 24 | $17.6K | $-2.0M | ||
| Q2 24 | $6.4M | $-7.9M | ||
| Q1 24 | $9.8M | $6.4M |
| Q4 25 | 7.3% | 53.8% | ||
| Q3 25 | 8.0% | 54.7% | ||
| Q2 25 | 11.0% | 52.0% | ||
| Q1 25 | 13.7% | 44.1% | ||
| Q4 24 | 13.1% | 52.3% | ||
| Q3 24 | 15.6% | 52.3% | ||
| Q2 24 | 26.6% | 52.8% | ||
| Q1 24 | 31.9% | 48.2% |
| Q4 25 | -13.6% | -7.7% | ||
| Q3 25 | -6.6% | 1.8% | ||
| Q2 25 | -8.7% | -12.0% | ||
| Q1 25 | -8.2% | -1.8% | ||
| Q4 24 | -26.0% | -17.4% | ||
| Q3 24 | -1.9% | -1.1% | ||
| Q2 24 | 12.4% | -7.7% | ||
| Q1 24 | 17.4% | 3.6% |
| Q4 25 | -12.5% | -8.8% | ||
| Q3 25 | 4.4% | 1.0% | ||
| Q2 25 | -7.6% | -14.9% | ||
| Q1 25 | -4.5% | -2.3% | ||
| Q4 24 | -17.8% | -22.2% | ||
| Q3 24 | 0.0% | -1.4% | ||
| Q2 24 | 13.5% | -6.7% | ||
| Q1 24 | 16.7% | 2.6% |
| Q4 25 | $-0.08 | $-0.29 | ||
| Q3 25 | $0.03 | $0.04 | ||
| Q2 25 | $-0.03 | $-0.45 | ||
| Q1 25 | $-0.02 | $-0.17 | ||
| Q4 24 | $-0.05 | $-0.84 | ||
| Q3 24 | $0.00 | $-0.06 | ||
| Q2 24 | $0.07 | $-0.24 | ||
| Q1 24 | $0.11 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.3M | $8.2M |
| Total DebtLower is stronger | $4.1M | — |
| Stockholders' EquityBook value | $112.7M | $160.6M |
| Total Assets | $426.2M | $468.0M |
| Debt / EquityLower = less leverage | 0.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.3M | $8.2M | ||
| Q3 25 | $10.5M | $5.7M | ||
| Q2 25 | $45.7M | $8.6M | ||
| Q1 25 | $9.6M | $3.3M | ||
| Q4 24 | $11.0M | $9.3M | ||
| Q3 24 | $24.2M | $9.8M | ||
| Q2 24 | $44.1M | $6.8M | ||
| Q1 24 | $23.8M | $32.2M |
| Q4 25 | $4.1M | — | ||
| Q3 25 | $4.8M | — | ||
| Q2 25 | $4.9M | — | ||
| Q1 25 | $4.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $112.7M | $160.6M | ||
| Q3 25 | $121.4M | $170.0M | ||
| Q2 25 | $118.2M | $167.9M | ||
| Q1 25 | $120.8M | $182.7M | ||
| Q4 24 | $121.7M | $188.1M | ||
| Q3 24 | $131.2M | $215.7M | ||
| Q2 24 | $126.6M | $218.4M | ||
| Q1 24 | $120.9M | $222.8M |
| Q4 25 | $426.2M | $468.0M | ||
| Q3 25 | $363.9M | $433.8M | ||
| Q2 25 | $333.1M | $463.7M | ||
| Q1 25 | $311.5M | $452.4M | ||
| Q4 24 | $302.2M | $533.1M | ||
| Q3 24 | $293.5M | $488.6M | ||
| Q2 24 | $279.6M | $471.4M | ||
| Q1 24 | $286.5M | $491.2M |
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $29.8M | $-6.7M |
| Free Cash FlowOCF − Capex | $16.1M | $-8.9M |
| FCF MarginFCF / Revenue | 27.3% | -7.8% |
| Capex IntensityCapex / Revenue | 23.4% | 2.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $3.9M | $1.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.8M | $-6.7M | ||
| Q3 25 | $14.6M | $32.0M | ||
| Q2 25 | $13.8M | $-56.5M | ||
| Q1 25 | $-9.6M | $41.2M | ||
| Q4 24 | $9.6M | $-41.1M | ||
| Q3 24 | $19.7M | $16.6M | ||
| Q2 24 | $2.9M | $-33.7M | ||
| Q1 24 | $7.4M | $69.7M |
| Q4 25 | $16.1M | $-8.9M | ||
| Q3 25 | $6.0M | $29.8M | ||
| Q2 25 | $4.1M | $-57.8M | ||
| Q1 25 | $-22.3M | $38.7M | ||
| Q4 24 | $3.9M | $-43.7M | ||
| Q3 24 | $16.5M | $15.0M | ||
| Q2 24 | $2.5M | $-35.2M | ||
| Q1 24 | $-454.0K | $60.6M |
| Q4 25 | 27.3% | -7.8% | ||
| Q3 25 | 9.9% | 22.6% | ||
| Q2 25 | 10.2% | -56.3% | ||
| Q1 25 | -63.9% | 16.0% | ||
| Q4 24 | 15.5% | -34.4% | ||
| Q3 24 | 37.1% | 10.6% | ||
| Q2 24 | 5.2% | -30.2% | ||
| Q1 24 | -0.8% | 24.7% |
| Q4 25 | 23.4% | 2.0% | ||
| Q3 25 | 14.1% | 1.7% | ||
| Q2 25 | 23.8% | 1.3% | ||
| Q1 25 | 36.3% | 1.0% | ||
| Q4 24 | 22.5% | 2.1% | ||
| Q3 24 | 7.0% | 1.2% | ||
| Q2 24 | 0.9% | 1.3% | ||
| Q1 24 | 13.4% | 3.7% |
| Q4 25 | — | — | ||
| Q3 25 | 5.51× | 25.40× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1115.72× | — | ||
| Q2 24 | 0.46× | — | ||
| Q1 24 | 0.76× | 10.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBAT
| Manufacturing Lithium Batteries | $28.0M | 48% |
| Residential Energy Supply And Uninterruptable Supplies | $17.8M | 30% |
| Light Electric Vehicles | $12.9M | 22% |
| Precursor | $108.0K | 0% |
DLTH
| Sales Channel Directly To Consumer | $67.4M | 59% |
| Sales Channel Through Intermediary | $47.4M | 41% |
