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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and ENNIS, INC. (EBF). Click either name above to swap in a different company.
DULUTH HOLDINGS INC. is the larger business by last-quarter revenue ($114.9M vs $100.2M, roughly 1.1× ENNIS, INC.). ENNIS, INC. runs the higher net margin — 10.8% vs -8.8%, a 19.6% gap on every dollar of revenue. On growth, ENNIS, INC. posted the faster year-over-year revenue change (0.4% vs -9.6%). ENNIS, INC. produced more free cash flow last quarter ($15.7M vs $-8.9M). Over the past eight quarters, ENNIS, INC.'s revenue compounded faster (1.4% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
ENNIS, INC. (ticker EBF) is a leading North American provider of printed business products and related services. Its offerings include custom business forms, pressure-sensitive labels, marketing collateral, promotional items, and branded packaging, serving clients across retail, healthcare, financial services, and small business segments.
DLTH vs EBF — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $100.2M |
| Net Profit | $-10.1M | $10.8M |
| Gross Margin | 53.8% | 31.9% |
| Operating Margin | -7.7% | 15.0% |
| Net Margin | -8.8% | 10.8% |
| Revenue YoY | -9.6% | 0.4% |
| Net Profit YoY | 64.6% | 6.1% |
| EPS (diluted) | $-0.29 | $0.42 |
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 | $114.9M | $100.2M | ||
| Q3 25 | $131.7M | $98.7M | ||
| Q2 25 | $102.7M | $97.2M | ||
| Q1 25 | $241.3M | $92.7M | ||
| Q4 24 | $127.1M | $99.8M | ||
| Q3 24 | $141.6M | $99.0M | ||
| Q2 24 | $116.7M | $103.1M | ||
| Q1 24 | $245.6M | $97.4M |
| Q4 25 | $-10.1M | $10.8M | ||
| Q3 25 | $1.3M | $13.2M | ||
| Q2 25 | $-15.3M | $9.8M | ||
| Q1 25 | $-5.6M | $9.0M | ||
| Q4 24 | $-28.2M | $10.2M | ||
| Q3 24 | $-2.0M | $10.3M | ||
| Q2 24 | $-7.9M | $10.7M | ||
| Q1 24 | $6.4M | $10.1M |
| Q4 25 | 53.8% | 31.9% | ||
| Q3 25 | 54.7% | 30.5% | ||
| Q2 25 | 52.0% | 31.1% | ||
| Q1 25 | 44.1% | 29.5% | ||
| Q4 24 | 52.3% | 29.3% | ||
| Q3 24 | 52.3% | 30.1% | ||
| Q2 24 | 52.8% | 30.0% | ||
| Q1 24 | 48.2% | 28.4% |
| Q4 25 | -7.7% | 15.0% | ||
| Q3 25 | 1.8% | 12.5% | ||
| Q2 25 | -12.0% | 13.7% | ||
| Q1 25 | -1.8% | 13.0% | ||
| Q4 24 | -17.4% | 13.1% | ||
| Q3 24 | -1.1% | 13.3% | ||
| Q2 24 | -7.7% | 13.3% | ||
| Q1 24 | 3.6% | 13.3% |
| Q4 25 | -8.8% | 10.8% | ||
| Q3 25 | 1.0% | 13.3% | ||
| Q2 25 | -14.9% | 10.1% | ||
| Q1 25 | -2.3% | 9.7% | ||
| Q4 24 | -22.2% | 10.2% | ||
| Q3 24 | -1.4% | 10.4% | ||
| Q2 24 | -6.7% | 10.4% | ||
| Q1 24 | 2.6% | 10.4% |
| Q4 25 | $-0.29 | $0.42 | ||
| Q3 25 | $0.04 | $0.51 | ||
| Q2 25 | $-0.45 | $0.38 | ||
| Q1 25 | $-0.17 | $0.34 | ||
| Q4 24 | $-0.84 | $0.39 | ||
| Q3 24 | $-0.06 | $0.40 | ||
| Q2 24 | $-0.24 | $0.41 | ||
| Q1 24 | $0.20 | $0.39 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.2M | $31.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $160.6M | $304.8M |
| Total Assets | $468.0M | $354.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $31.3M | ||
| Q3 25 | $5.7M | $31.9M | ||
| Q2 25 | $8.6M | $32.6M | ||
| Q1 25 | $3.3M | $72.5M | ||
| Q4 24 | $9.3M | $68.6M | ||
| Q3 24 | $9.8M | $122.6M | ||
| Q2 24 | $6.8M | $123.7M | ||
| Q1 24 | $32.2M | $110.9M |
| Q4 25 | $160.6M | $304.8M | ||
| Q3 25 | $170.0M | $305.4M | ||
| Q2 25 | $167.9M | $301.2M | ||
| Q1 25 | $182.7M | $302.0M | ||
| Q4 24 | $188.1M | $297.7M | ||
| Q3 24 | $215.7M | $358.4M | ||
| Q2 24 | $218.4M | $354.4M | ||
| Q1 24 | $222.8M | $349.8M |
| Q4 25 | $468.0M | $354.3M | ||
| Q3 25 | $433.8M | $361.8M | ||
| Q2 25 | $463.7M | $361.7M | ||
| Q1 25 | $452.4M | $348.9M | ||
| Q4 24 | $533.1M | $346.1M | ||
| Q3 24 | $488.6M | $406.8M | ||
| Q2 24 | $471.4M | $406.2M | ||
| Q1 24 | $491.2M | $399.2M |
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 | $-6.7M | $16.4M |
| Free Cash FlowOCF − Capex | $-8.9M | $15.7M |
| FCF MarginFCF / Revenue | -7.8% | 15.7% |
| Capex IntensityCapex / Revenue | 2.0% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 1.52× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | $42.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.7M | $16.4M | ||
| Q3 25 | $32.0M | $10.5M | ||
| Q2 25 | $-56.5M | $8.0M | ||
| Q1 25 | $41.2M | $12.8M | ||
| Q4 24 | $-41.1M | $18.2M | ||
| Q3 24 | $16.6M | $11.8M | ||
| Q2 24 | $-33.7M | $23.1M | ||
| Q1 24 | $69.7M | $16.6M |
| Q4 25 | $-8.9M | $15.7M | ||
| Q3 25 | $29.8M | $9.0M | ||
| Q2 25 | $-57.8M | $6.6M | ||
| Q1 25 | $38.7M | $11.1M | ||
| Q4 24 | $-43.7M | $17.5M | ||
| Q3 24 | $15.0M | $10.7M | ||
| Q2 24 | $-35.2M | $20.6M | ||
| Q1 24 | $60.6M | $15.0M |
| Q4 25 | -7.8% | 15.7% | ||
| Q3 25 | 22.6% | 9.2% | ||
| Q2 25 | -56.3% | 6.8% | ||
| Q1 25 | 16.0% | 12.0% | ||
| Q4 24 | -34.4% | 17.6% | ||
| Q3 24 | 10.6% | 10.8% | ||
| Q2 24 | -30.2% | 20.0% | ||
| Q1 24 | 24.7% | 15.3% |
| Q4 25 | 2.0% | 0.7% | ||
| Q3 25 | 1.7% | 1.4% | ||
| Q2 25 | 1.3% | 1.4% | ||
| Q1 25 | 1.0% | 1.8% | ||
| Q4 24 | 2.1% | 0.6% | ||
| Q3 24 | 1.2% | 1.1% | ||
| Q2 24 | 1.3% | 2.4% | ||
| Q1 24 | 3.7% | 1.7% |
| Q4 25 | — | 1.52× | ||
| Q3 25 | 25.40× | 0.80× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | 1.41× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 1.15× | ||
| Q2 24 | — | 2.16× | ||
| Q1 24 | 10.86× | 1.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLTH
| Sales Channel Directly To Consumer | $67.4M | 59% |
| Sales Channel Through Intermediary | $47.4M | 41% |
EBF
Segment breakdown not available.
