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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and HA Sustainable Infrastructure Capital, Inc. (HASI). Click either name above to swap in a different company.
DULUTH HOLDINGS INC. is the larger business by last-quarter revenue ($114.9M vs $114.8M, roughly 1.0× HA Sustainable Infrastructure Capital, Inc.). DULUTH HOLDINGS INC. runs the higher net margin — -8.8% vs -46.8%, a 38.0% gap on every dollar of revenue. On growth, HA Sustainable Infrastructure Capital, Inc. posted the faster year-over-year revenue change (13.3% vs -9.6%). Over the past eight quarters, HA Sustainable Infrastructure Capital, Inc.'s revenue compounded faster (4.2% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
HA Sustainable Infrastructure Capital, Inc. (HASI) is a specialized investment firm focused on sustainable infrastructure assets covering renewable energy, energy efficiency, sustainable real estate and low-carbon utility segments. It primarily operates in North American markets, providing long-term capital to eligible sustainable projects and delivering stable risk-adjusted returns to investors through recurring cash flows from operational underlying assets.
DLTH vs HASI — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $114.8M |
| Net Profit | $-10.1M | $-53.8M |
| Gross Margin | 53.8% | — |
| Operating Margin | -7.7% | -57.4% |
| Net Margin | -8.8% | -46.8% |
| Revenue YoY | -9.6% | 13.3% |
| Net Profit YoY | 64.6% | -176.7% |
| EPS (diluted) | $-0.29 | $-0.38 |
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 | $114.8M | ||
| Q3 25 | $131.7M | $103.1M | ||
| Q2 25 | $102.7M | $85.7M | ||
| Q1 25 | $241.3M | $96.9M | ||
| Q4 24 | $127.1M | $101.3M | ||
| Q3 24 | $141.6M | $82.0M | ||
| Q2 24 | $116.7M | $94.5M | ||
| Q1 24 | $245.6M | $105.8M |
| Q4 25 | $-10.1M | $-53.8M | ||
| Q3 25 | $1.3M | $83.3M | ||
| Q2 25 | $-15.3M | $98.4M | ||
| Q1 25 | $-5.6M | $56.6M | ||
| Q4 24 | $-28.2M | $70.1M | ||
| Q3 24 | $-2.0M | $-19.6M | ||
| Q2 24 | $-7.9M | $26.5M | ||
| Q1 24 | $6.4M | $123.0M |
| 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 24 | 48.2% | — |
| Q4 25 | -7.7% | -57.4% | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | -12.0% | — | ||
| Q1 25 | -1.8% | 84.7% | ||
| Q4 24 | -17.4% | 90.9% | ||
| Q3 24 | -1.1% | -32.1% | ||
| Q2 24 | -7.7% | 39.5% | ||
| Q1 24 | 3.6% | — |
| Q4 25 | -8.8% | -46.8% | ||
| Q3 25 | 1.0% | 80.8% | ||
| Q2 25 | -14.9% | 114.9% | ||
| Q1 25 | -2.3% | 58.4% | ||
| Q4 24 | -22.2% | 69.2% | ||
| Q3 24 | -1.4% | -23.9% | ||
| Q2 24 | -6.7% | 28.1% | ||
| Q1 24 | 2.6% | 116.3% |
| Q4 25 | $-0.29 | $-0.38 | ||
| Q3 25 | $0.04 | $0.61 | ||
| Q2 25 | $-0.45 | $0.74 | ||
| Q1 25 | $-0.17 | $0.44 | ||
| Q4 24 | $-0.84 | $0.58 | ||
| Q3 24 | $-0.06 | $-0.17 | ||
| Q2 24 | $-0.24 | $0.23 | ||
| Q1 24 | $0.20 | $0.98 |
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 | $110.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $160.6M | $2.7B |
| Total Assets | $468.0M | $8.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $110.2M | ||
| Q3 25 | $5.7M | $301.8M | ||
| Q2 25 | $8.6M | $86.5M | ||
| Q1 25 | $3.3M | $67.4M | ||
| Q4 24 | $9.3M | $129.8M | ||
| Q3 24 | $9.8M | $44.1M | ||
| Q2 24 | $6.8M | $145.7M | ||
| Q1 24 | $32.2M | $61.4M |
| Q4 25 | $160.6M | $2.7B | ||
| Q3 25 | $170.0M | $2.7B | ||
| Q2 25 | $167.9M | $2.6B | ||
| Q1 25 | $182.7M | $2.5B | ||
| Q4 24 | $188.1M | $2.4B | ||
| Q3 24 | $215.7M | $2.3B | ||
| Q2 24 | $218.4M | $2.3B | ||
| Q1 24 | $222.8M | $2.3B |
| Q4 25 | $468.0M | $8.2B | ||
| Q3 25 | $433.8M | $8.2B | ||
| Q2 25 | $463.7M | $7.6B | ||
| Q1 25 | $452.4M | $7.5B | ||
| Q4 24 | $533.1M | $7.1B | ||
| Q3 24 | $488.6M | $6.7B | ||
| Q2 24 | $471.4M | $6.7B | ||
| Q1 24 | $491.2M | $6.7B |
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 | $167.3M |
| 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.
| Q4 25 | $-6.7M | $167.3M | ||
| Q3 25 | $32.0M | $-121.8M | ||
| Q2 25 | $-56.5M | $79.6M | ||
| Q1 25 | $41.2M | $-37.1M | ||
| Q4 24 | $-41.1M | $5.9M | ||
| Q3 24 | $16.6M | $21.9M | ||
| Q2 24 | $-33.7M | $-24.8M | ||
| Q1 24 | $69.7M | $20.9M |
| Q4 25 | $-8.9M | — | ||
| Q3 25 | $29.8M | — | ||
| Q2 25 | $-57.8M | — | ||
| Q1 25 | $38.7M | — | ||
| Q4 24 | $-43.7M | — | ||
| Q3 24 | $15.0M | — | ||
| Q2 24 | $-35.2M | — | ||
| Q1 24 | $60.6M | — |
| Q4 25 | -7.8% | — | ||
| Q3 25 | 22.6% | — | ||
| Q2 25 | -56.3% | — | ||
| Q1 25 | 16.0% | — | ||
| Q4 24 | -34.4% | — | ||
| Q3 24 | 10.6% | — | ||
| Q2 24 | -30.2% | — | ||
| Q1 24 | 24.7% | — |
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 3.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | 25.40× | -1.46× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | -0.66× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.94× | ||
| Q1 24 | 10.86× | 0.17× |
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% |
HASI
Segment breakdown not available.
