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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and FINANCIAL INSTITUTIONS INC (FISI). Click either name above to swap in a different company.
DULUTH HOLDINGS INC. is the larger business by last-quarter revenue ($114.9M vs $62.7M, roughly 1.8× FINANCIAL INSTITUTIONS INC). FINANCIAL INSTITUTIONS INC runs the higher net margin — 33.5% vs -8.8%, a 42.3% gap on every dollar of revenue. Over the past eight quarters, FINANCIAL INSTITUTIONS INC's revenue compounded faster (-2.0% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
The Mizuho Financial Group, Inc. , known from 2000 to 2003 as Mizuho Holdings and abbreviated as MHFG or simply Mizuho, is a Japanese banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan. The group was formed in 2000–2002 by merger of Dai-Ichi Kangyo Bank, Fuji Bank, and Industrial Bank of Japan. The name mizuho (瑞穂) literally means "abundant rice" in Japanese and "harvest" in the figurative sense.
DLTH vs FISI — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $62.7M |
| Net Profit | $-10.1M | $21.0M |
| Gross Margin | 53.8% | — |
| Operating Margin | -7.7% | — |
| Net Margin | -8.8% | 33.5% |
| Revenue YoY | -9.6% | — |
| Net Profit YoY | 64.6% | 24.3% |
| EPS (diluted) | $-0.29 | $1.04 |
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 | — | $62.7M | ||
| Q4 25 | $114.9M | $64.1M | ||
| Q3 25 | $131.7M | $63.8M | ||
| Q2 25 | $102.7M | $59.7M | ||
| Q1 25 | $241.3M | $57.2M | ||
| Q4 24 | $127.1M | $41.6M | ||
| Q3 24 | $141.6M | $50.1M | ||
| Q2 24 | $116.7M | $65.2M |
| Q1 26 | — | $21.0M | ||
| Q4 25 | $-10.1M | $20.0M | ||
| Q3 25 | $1.3M | $20.5M | ||
| Q2 25 | $-15.3M | $17.5M | ||
| Q1 25 | $-5.6M | $16.9M | ||
| Q4 24 | $-28.2M | $-82.8M | ||
| Q3 24 | $-2.0M | $13.5M | ||
| Q2 24 | $-7.9M | $25.6M |
| 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% | 37.4% | ||
| Q3 25 | 1.8% | 39.5% | ||
| Q2 25 | -12.0% | 36.0% | ||
| Q1 25 | -1.8% | 36.0% | ||
| Q4 24 | -17.4% | -276.9% | ||
| Q3 24 | -1.1% | 29.0% | ||
| Q2 24 | -7.7% | 46.2% |
| Q1 26 | — | 33.5% | ||
| Q4 25 | -8.8% | 38.3% | ||
| Q3 25 | 1.0% | 32.1% | ||
| Q2 25 | -14.9% | 29.3% | ||
| Q1 25 | -2.3% | 29.5% | ||
| Q4 24 | -22.2% | -198.9% | ||
| Q3 24 | -1.4% | 26.9% | ||
| Q2 24 | -6.7% | 39.3% |
| Q1 26 | — | $1.04 | ||
| Q4 25 | $-0.29 | $0.96 | ||
| Q3 25 | $0.04 | $0.99 | ||
| Q2 25 | $-0.45 | $0.85 | ||
| Q1 25 | $-0.17 | $0.81 | ||
| Q4 24 | $-0.84 | $-5.32 | ||
| Q3 24 | $-0.06 | $0.84 | ||
| Q2 24 | $-0.24 | $1.62 |
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 | $85.5M |
| Total DebtLower is stronger | — | $114.0M |
| Stockholders' EquityBook value | $160.6M | — |
| Total Assets | $468.0M | $6.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $85.5M | ||
| Q4 25 | $8.2M | $108.8M | ||
| Q3 25 | $5.7M | $185.9M | ||
| Q2 25 | $8.6M | $93.0M | ||
| Q1 25 | $3.3M | $167.4M | ||
| Q4 24 | $9.3M | $87.3M | ||
| Q3 24 | $9.8M | — | ||
| Q2 24 | $6.8M | — |
| Q1 26 | — | $114.0M | ||
| Q4 25 | — | $193.7M | ||
| Q3 25 | — | $115.0M | ||
| Q2 25 | — | $115.0M | ||
| Q1 25 | — | $124.9M | ||
| Q4 24 | — | $124.8M | ||
| Q3 24 | — | $124.8M | ||
| Q2 24 | — | $124.7M |
| Q1 26 | — | — | ||
| Q4 25 | $160.6M | $628.9M | ||
| Q3 25 | $170.0M | $621.7M | ||
| Q2 25 | $167.9M | $601.7M | ||
| Q1 25 | $182.7M | $589.9M | ||
| Q4 24 | $188.1M | $569.0M | ||
| Q3 24 | $215.7M | $500.3M | ||
| Q2 24 | $218.4M | $467.7M |
| Q1 26 | — | $6.3B | ||
| Q4 25 | $468.0M | $6.3B | ||
| Q3 25 | $433.8M | $6.3B | ||
| Q2 25 | $463.7M | $6.1B | ||
| Q1 25 | $452.4M | $6.3B | ||
| Q4 24 | $533.1M | $6.1B | ||
| Q3 24 | $488.6M | $6.2B | ||
| Q2 24 | $471.4M | $6.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.18× | ||
| Q2 25 | — | 0.19× | ||
| Q1 25 | — | 0.21× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.25× | ||
| Q2 24 | — | 0.27× |
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 | $18.8M | ||
| Q3 25 | $32.0M | $-6.9M | ||
| Q2 25 | $-56.5M | $-5.7M | ||
| Q1 25 | $41.2M | $10.0M | ||
| Q4 24 | $-41.1M | $77.1M | ||
| Q3 24 | $16.6M | $2.1M | ||
| Q2 24 | $-33.7M | $35.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-8.9M | $13.3M | ||
| Q3 25 | $29.8M | $-7.9M | ||
| Q2 25 | $-57.8M | $-7.3M | ||
| Q1 25 | $38.7M | $9.2M | ||
| Q4 24 | $-43.7M | $72.2M | ||
| Q3 24 | $15.0M | $-299.0K | ||
| Q2 24 | $-35.2M | $34.7M |
| Q1 26 | — | — | ||
| Q4 25 | -7.8% | 20.7% | ||
| Q3 25 | 22.6% | -12.4% | ||
| Q2 25 | -56.3% | -12.3% | ||
| Q1 25 | 16.0% | 16.1% | ||
| Q4 24 | -34.4% | 173.3% | ||
| Q3 24 | 10.6% | -0.6% | ||
| Q2 24 | -30.2% | 53.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 8.7% | ||
| Q3 25 | 1.7% | 1.6% | ||
| Q2 25 | 1.3% | 2.7% | ||
| Q1 25 | 1.0% | 1.4% | ||
| Q4 24 | 2.1% | 11.9% | ||
| Q3 24 | 1.2% | 4.9% | ||
| Q2 24 | 1.3% | 1.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.94× | ||
| Q3 25 | 25.40× | -0.34× | ||
| Q2 25 | — | -0.33× | ||
| Q1 25 | — | 0.59× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 1.39× |
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% |
FISI
| Net Interest Income | $52.0M | 83% |
| Noninterest Income | $10.7M | 17% |
