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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and Kennedy-Wilson Holdings, Inc. (KW). Click either name above to swap in a different company.
Kennedy-Wilson Holdings, Inc. is the larger business by last-quarter revenue ($120.6M vs $114.9M, roughly 1.0× DULUTH HOLDINGS INC.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs -8.8%, a 56.9% gap on every dollar of revenue. On growth, DULUTH HOLDINGS INC. posted the faster year-over-year revenue change (-9.6% vs -11.0%). DULUTH HOLDINGS INC. produced more free cash flow last quarter ($-8.9M vs $-55.2M). Over the past eight quarters, Kennedy-Wilson Holdings, Inc.'s revenue compounded faster (-6.0% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
DLTH vs KW — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $120.6M |
| Net Profit | $-10.1M | $58.0M |
| Gross Margin | 53.8% | — |
| Operating Margin | -7.7% | 57.3% |
| Net Margin | -8.8% | 48.1% |
| Revenue YoY | -9.6% | -11.0% |
| Net Profit YoY | 64.6% | 32.7% |
| EPS (diluted) | $-0.29 | $0.22 |
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 | $120.6M | ||
| Q3 25 | $131.7M | $116.4M | ||
| Q2 25 | $102.7M | $135.7M | ||
| Q1 25 | $241.3M | $128.3M | ||
| Q4 24 | $127.1M | $135.5M | ||
| Q3 24 | $141.6M | $127.5M | ||
| Q2 24 | $116.7M | $132.0M | ||
| Q1 24 | $245.6M | $136.4M |
| Q4 25 | $-10.1M | $58.0M | ||
| Q3 25 | $1.3M | $-10.2M | ||
| Q2 25 | $-15.3M | $5.6M | ||
| Q1 25 | $-5.6M | $-29.6M | ||
| Q4 24 | $-28.2M | $43.7M | ||
| Q3 24 | $-2.0M | $-66.8M | ||
| Q2 24 | $-7.9M | $-48.3M | ||
| Q1 24 | $6.4M | $37.7M |
| 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% | 57.3% | ||
| Q3 25 | 1.8% | -6.2% | ||
| Q2 25 | -12.0% | 7.4% | ||
| Q1 25 | -1.8% | -26.9% | ||
| Q4 24 | -17.4% | 36.7% | ||
| Q3 24 | -1.1% | -60.8% | ||
| Q2 24 | -7.7% | -45.5% | ||
| Q1 24 | 3.6% | 47.2% |
| Q4 25 | -8.8% | 48.1% | ||
| Q3 25 | 1.0% | -8.8% | ||
| Q2 25 | -14.9% | 4.1% | ||
| Q1 25 | -2.3% | -23.1% | ||
| Q4 24 | -22.2% | 32.3% | ||
| Q3 24 | -1.4% | -52.4% | ||
| Q2 24 | -6.7% | -36.6% | ||
| Q1 24 | 2.6% | 27.6% |
| Q4 25 | $-0.29 | $0.22 | ||
| Q3 25 | $0.04 | $-0.15 | ||
| Q2 25 | $-0.45 | $-0.05 | ||
| Q1 25 | $-0.17 | $-0.30 | ||
| Q4 24 | $-0.84 | $0.24 | ||
| Q3 24 | $-0.06 | $-0.56 | ||
| Q2 24 | $-0.24 | $-0.43 | ||
| Q1 24 | $0.20 | $0.19 |
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 | $184.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $160.6M | $1.5B |
| Total Assets | $468.0M | $6.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $184.5M | ||
| Q3 25 | $5.7M | $382.6M | ||
| Q2 25 | $8.6M | $309.1M | ||
| Q1 25 | $3.3M | $356.6M | ||
| Q4 24 | $9.3M | $217.5M | ||
| Q3 24 | $9.8M | $367.1M | ||
| Q2 24 | $6.8M | $366.5M | ||
| Q1 24 | $32.2M | $541.9M |
| Q4 25 | $160.6M | $1.5B | ||
| Q3 25 | $170.0M | $1.5B | ||
| Q2 25 | $167.9M | $1.6B | ||
| Q1 25 | $182.7M | $1.6B | ||
| Q4 24 | $188.1M | $1.6B | ||
| Q3 24 | $215.7M | $1.6B | ||
| Q2 24 | $218.4M | $1.7B | ||
| Q1 24 | $222.8M | $1.7B |
| Q4 25 | $468.0M | $6.6B | ||
| Q3 25 | $433.8M | $6.7B | ||
| Q2 25 | $463.7M | $6.8B | ||
| Q1 25 | $452.4M | $7.2B | ||
| Q4 24 | $533.1M | $7.0B | ||
| Q3 24 | $488.6M | $7.4B | ||
| Q2 24 | $471.4M | $7.5B | ||
| Q1 24 | $491.2M | $7.7B |
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 | $11.4M |
| Free Cash FlowOCF − Capex | $-8.9M | $-55.2M |
| FCF MarginFCF / Revenue | -7.8% | -45.8% |
| Capex IntensityCapex / Revenue | 2.0% | 55.2% |
| Cash ConversionOCF / Net Profit | — | 0.20× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | $-103.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.7M | $11.4M | ||
| Q3 25 | $32.0M | $-7.6M | ||
| Q2 25 | $-56.5M | $42.0M | ||
| Q1 25 | $41.2M | $-51.9M | ||
| Q4 24 | $-41.1M | $55.1M | ||
| Q3 24 | $16.6M | $-5.6M | ||
| Q2 24 | $-33.7M | $36.7M | ||
| Q1 24 | $69.7M | $-5.6M |
| Q4 25 | $-8.9M | $-55.2M | ||
| Q3 25 | $29.8M | $-18.0M | ||
| Q2 25 | $-57.8M | $29.4M | ||
| Q1 25 | $38.7M | $-59.7M | ||
| Q4 24 | $-43.7M | $-76.5M | ||
| Q3 24 | $15.0M | $-27.7M | ||
| Q2 24 | $-35.2M | $-500.0K | ||
| Q1 24 | $60.6M | $-57.1M |
| Q4 25 | -7.8% | -45.8% | ||
| Q3 25 | 22.6% | -15.5% | ||
| Q2 25 | -56.3% | 21.7% | ||
| Q1 25 | 16.0% | -46.5% | ||
| Q4 24 | -34.4% | -56.5% | ||
| Q3 24 | 10.6% | -21.7% | ||
| Q2 24 | -30.2% | -0.4% | ||
| Q1 24 | 24.7% | -41.9% |
| Q4 25 | 2.0% | 55.2% | ||
| Q3 25 | 1.7% | 8.9% | ||
| Q2 25 | 1.3% | 9.3% | ||
| Q1 25 | 1.0% | 6.1% | ||
| Q4 24 | 2.1% | 97.1% | ||
| Q3 24 | 1.2% | 17.3% | ||
| Q2 24 | 1.3% | 28.2% | ||
| Q1 24 | 3.7% | 37.8% |
| Q4 25 | — | 0.20× | ||
| Q3 25 | 25.40× | — | ||
| Q2 25 | — | 7.50× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 10.86× | -0.15× |
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% |
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
