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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and FIRST HAWAIIAN, INC. (FHB). Click either name above to swap in a different company.
FIRST HAWAIIAN, INC. is the larger business by last-quarter revenue ($220.3M vs $114.9M, roughly 1.9× DULUTH HOLDINGS INC.). FIRST HAWAIIAN, INC. runs the higher net margin — 30.8% vs -8.8%, a 39.6% gap on every dollar of revenue. Over the past eight quarters, FIRST HAWAIIAN, INC.'s revenue compounded faster (3.8% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
First Hawaiian, Inc. is a bank holding company headquartered in Honolulu, Hawaiʻi. Its principal subsidiary, First Hawaiian Bank, founded in 1858, is Hawaiʻi’s oldest and largest financial institution headquartered in Honolulu at the First Hawaiian Center. The bank has 57 branches throughout Hawaiʻi, three in Guam and one in Saipan. It offers banking services to consumer and commercial customers, including deposit products, lending services and wealth management, insurance, private banking an...
DLTH vs FHB — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $220.3M |
| Net Profit | $-10.1M | $67.8M |
| Gross Margin | 53.8% | — |
| Operating Margin | -7.7% | — |
| Net Margin | -8.8% | 30.8% |
| Revenue YoY | -9.6% | — |
| Net Profit YoY | 64.6% | 14.4% |
| EPS (diluted) | $-0.29 | $0.55 |
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.
| Q1 26 | — | $220.3M | ||
| Q4 25 | $114.9M | $225.9M | ||
| Q3 25 | $131.7M | $226.4M | ||
| Q2 25 | $102.7M | $217.5M | ||
| Q1 25 | $241.3M | $211.0M | ||
| Q4 24 | $127.1M | $188.1M | ||
| Q3 24 | $141.6M | $210.0M | ||
| Q2 24 | $116.7M | $204.6M |
| Q1 26 | — | $67.8M | ||
| Q4 25 | $-10.1M | $69.9M | ||
| Q3 25 | $1.3M | $73.8M | ||
| Q2 25 | $-15.3M | $73.2M | ||
| Q1 25 | $-5.6M | $59.2M | ||
| Q4 24 | $-28.2M | $52.5M | ||
| Q3 24 | $-2.0M | $61.5M | ||
| Q2 24 | $-7.9M | $61.9M |
| Q1 26 | — | — | ||
| Q4 25 | 53.8% | — | ||
| Q3 25 | 54.7% | — | ||
| Q2 25 | 52.0% | — | ||
| Q1 25 | 44.1% | — | ||
| Q4 24 | 52.3% | — | ||
| Q3 24 | 52.3% | — | ||
| Q2 24 | 52.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | -7.7% | 41.2% | ||
| Q3 25 | 1.8% | 42.5% | ||
| Q2 25 | -12.0% | 40.5% | ||
| Q1 25 | -1.8% | 36.5% | ||
| Q4 24 | -17.4% | 34.4% | ||
| Q3 24 | -1.1% | 36.4% | ||
| Q2 24 | -7.7% | 39.5% |
| Q1 26 | — | 30.8% | ||
| Q4 25 | -8.8% | 31.0% | ||
| Q3 25 | 1.0% | 32.6% | ||
| Q2 25 | -14.9% | 33.7% | ||
| Q1 25 | -2.3% | 28.1% | ||
| Q4 24 | -22.2% | 27.9% | ||
| Q3 24 | -1.4% | 29.3% | ||
| Q2 24 | -6.7% | 30.3% |
| Q1 26 | — | $0.55 | ||
| Q4 25 | $-0.29 | $0.56 | ||
| Q3 25 | $0.04 | $0.59 | ||
| Q2 25 | $-0.45 | $0.58 | ||
| Q1 25 | $-0.17 | $0.47 | ||
| Q4 24 | $-0.84 | $0.41 | ||
| Q3 24 | $-0.06 | $0.48 | ||
| Q2 24 | $-0.24 | $0.48 |
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 | — |
| Total DebtLower is stronger | — | $0 |
| Stockholders' EquityBook value | $160.6M | $2.8B |
| Total Assets | $468.0M | $24.3B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $8.2M | — | ||
| Q3 25 | $5.7M | — | ||
| Q2 25 | $8.6M | — | ||
| Q1 25 | $3.3M | — | ||
| Q4 24 | $9.3M | — | ||
| Q3 24 | $9.8M | — | ||
| Q2 24 | $6.8M | — |
| Q1 26 | — | $0 | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $160.6M | $2.8B | ||
| Q3 25 | $170.0M | $2.7B | ||
| Q2 25 | $167.9M | $2.7B | ||
| Q1 25 | $182.7M | $2.6B | ||
| Q4 24 | $188.1M | $2.6B | ||
| Q3 24 | $215.7M | $2.6B | ||
| Q2 24 | $218.4M | $2.6B |
| Q1 26 | — | $24.3B | ||
| Q4 25 | $468.0M | $24.0B | ||
| Q3 25 | $433.8M | $24.1B | ||
| Q2 25 | $463.7M | $23.8B | ||
| Q1 25 | $452.4M | $23.7B | ||
| Q4 24 | $533.1M | $23.8B | ||
| Q3 24 | $488.6M | $23.8B | ||
| Q2 24 | $471.4M | $24.0B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $-6.7M | — |
| Free Cash FlowOCF − Capex | $-8.9M | — |
| FCF MarginFCF / Revenue | -7.8% | — |
| Capex IntensityCapex / Revenue | 2.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-6.7M | $335.1M | ||
| Q3 25 | $32.0M | $57.1M | ||
| Q2 25 | $-56.5M | $136.4M | ||
| Q1 25 | $41.2M | $36.7M | ||
| Q4 24 | $-41.1M | $317.5M | ||
| Q3 24 | $16.6M | $58.9M | ||
| Q2 24 | $-33.7M | $78.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-8.9M | $303.3M | ||
| Q3 25 | $29.8M | $49.5M | ||
| Q2 25 | $-57.8M | $125.2M | ||
| Q1 25 | $38.7M | $28.6M | ||
| Q4 24 | $-43.7M | $288.7M | ||
| Q3 24 | $15.0M | $52.3M | ||
| Q2 24 | $-35.2M | $72.2M |
| Q1 26 | — | — | ||
| Q4 25 | -7.8% | 134.3% | ||
| Q3 25 | 22.6% | 21.9% | ||
| Q2 25 | -56.3% | 57.5% | ||
| Q1 25 | 16.0% | 13.6% | ||
| Q4 24 | -34.4% | 153.5% | ||
| Q3 24 | 10.6% | 24.9% | ||
| Q2 24 | -30.2% | 35.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 14.1% | ||
| Q3 25 | 1.7% | 3.3% | ||
| Q2 25 | 1.3% | 5.2% | ||
| Q1 25 | 1.0% | 3.8% | ||
| Q4 24 | 2.1% | 15.3% | ||
| Q3 24 | 1.2% | 3.1% | ||
| Q2 24 | 1.3% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.79× | ||
| Q3 25 | 25.40× | 0.77× | ||
| Q2 25 | — | 1.86× | ||
| Q1 25 | — | 0.62× | ||
| Q4 24 | — | 6.05× | ||
| Q3 24 | — | 0.96× | ||
| Q2 24 | — | 1.26× |
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% |
FHB
| Net Interest Income | $167.5M | 76% |
| Noninterest Income | $52.8M | 24% |
