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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and Limbach Holdings, Inc. (LMB). Click either name above to swap in a different company.
Limbach Holdings, Inc. is the larger business by last-quarter revenue ($186.9M vs $114.9M, roughly 1.6× DULUTH HOLDINGS INC.). Limbach Holdings, Inc. runs the higher net margin — 6.6% vs -8.8%, a 15.4% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs -9.6%). Limbach Holdings, Inc. produced more free cash flow last quarter ($27.9M vs $-8.9M). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
DLTH vs LMB — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $186.9M |
| Net Profit | $-10.1M | $12.3M |
| Gross Margin | 53.8% | 25.7% |
| Operating Margin | -7.7% | 9.4% |
| Net Margin | -8.8% | 6.6% |
| Revenue YoY | -9.6% | 30.1% |
| Net Profit YoY | 64.6% | 25.0% |
| EPS (diluted) | $-0.29 | $1.01 |
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 | $186.9M | ||
| Q3 25 | $131.7M | $184.6M | ||
| Q2 25 | $102.7M | $142.2M | ||
| Q1 25 | $241.3M | $133.1M | ||
| Q4 24 | $127.1M | $143.7M | ||
| Q3 24 | $141.6M | $133.9M | ||
| Q2 24 | $116.7M | $122.2M | ||
| Q1 24 | $245.6M | $119.0M |
| Q4 25 | $-10.1M | $12.3M | ||
| Q3 25 | $1.3M | $8.8M | ||
| Q2 25 | $-15.3M | $7.8M | ||
| Q1 25 | $-5.6M | $10.2M | ||
| Q4 24 | $-28.2M | $9.8M | ||
| Q3 24 | $-2.0M | $7.5M | ||
| Q2 24 | $-7.9M | $6.0M | ||
| Q1 24 | $6.4M | $7.6M |
| Q4 25 | 53.8% | 25.7% | ||
| Q3 25 | 54.7% | 24.2% | ||
| Q2 25 | 52.0% | 28.0% | ||
| Q1 25 | 44.1% | 27.6% | ||
| Q4 24 | 52.3% | 30.3% | ||
| Q3 24 | 52.3% | 27.0% | ||
| Q2 24 | 52.8% | 27.4% | ||
| Q1 24 | 48.2% | 26.1% |
| Q4 25 | -7.7% | 9.4% | ||
| Q3 25 | 1.8% | 7.2% | ||
| Q2 25 | -12.0% | 7.5% | ||
| Q1 25 | -1.8% | 5.9% | ||
| Q4 24 | -17.4% | 9.1% | ||
| Q3 24 | -1.1% | 8.1% | ||
| Q2 24 | -7.7% | 6.7% | ||
| Q1 24 | 3.6% | 5.5% |
| Q4 25 | -8.8% | 6.6% | ||
| Q3 25 | 1.0% | 4.8% | ||
| Q2 25 | -14.9% | 5.5% | ||
| Q1 25 | -2.3% | 7.7% | ||
| Q4 24 | -22.2% | 6.9% | ||
| Q3 24 | -1.4% | 5.6% | ||
| Q2 24 | -6.7% | 4.9% | ||
| Q1 24 | 2.6% | 6.4% |
| Q4 25 | $-0.29 | $1.01 | ||
| Q3 25 | $0.04 | $0.73 | ||
| Q2 25 | $-0.45 | $0.64 | ||
| Q1 25 | $-0.17 | $0.85 | ||
| Q4 24 | $-0.84 | $0.81 | ||
| Q3 24 | $-0.06 | $0.62 | ||
| Q2 24 | $-0.24 | $0.50 | ||
| Q1 24 | $0.20 | $0.64 |
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 | $11.3M |
| Total DebtLower is stronger | — | $30.5M |
| Stockholders' EquityBook value | $160.6M | $195.7M |
| Total Assets | $468.0M | $381.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $11.3M | ||
| Q3 25 | $5.7M | $9.8M | ||
| Q2 25 | $8.6M | $38.9M | ||
| Q1 25 | $3.3M | $38.1M | ||
| Q4 24 | $9.3M | $44.9M | ||
| Q3 24 | $9.8M | $51.2M | ||
| Q2 24 | $6.8M | $59.5M | ||
| Q1 24 | $32.2M | $48.2M |
| Q4 25 | — | $30.5M | ||
| Q3 25 | — | $56.3M | ||
| Q2 25 | — | $28.4M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | — | $23.6M | ||
| Q3 24 | — | $20.5M | ||
| Q2 24 | — | $19.7M | ||
| Q1 24 | — | $19.4M |
| Q4 25 | $160.6M | $195.7M | ||
| Q3 25 | $170.0M | $181.6M | ||
| Q2 25 | $167.9M | $170.5M | ||
| Q1 25 | $182.7M | $161.1M | ||
| Q4 24 | $188.1M | $153.5M | ||
| Q3 24 | $215.7M | $142.2M | ||
| Q2 24 | $218.4M | $133.0M | ||
| Q1 24 | $222.8M | $125.5M |
| Q4 25 | $468.0M | $381.1M | ||
| Q3 25 | $433.8M | $409.1M | ||
| Q2 25 | $463.7M | $343.0M | ||
| Q1 25 | $452.4M | $336.4M | ||
| Q4 24 | $533.1M | $352.1M | ||
| Q3 24 | $488.6M | $324.4M | ||
| Q2 24 | $471.4M | $303.9M | ||
| Q1 24 | $491.2M | $289.2M |
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.15× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.15× |
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 | $28.1M |
| Free Cash FlowOCF − Capex | $-8.9M | $27.9M |
| FCF MarginFCF / Revenue | -7.8% | 14.9% |
| Capex IntensityCapex / Revenue | 2.0% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.7M | $28.1M | ||
| Q3 25 | $32.0M | $13.3M | ||
| Q2 25 | $-56.5M | $2.0M | ||
| Q1 25 | $41.2M | $2.2M | ||
| Q4 24 | $-41.1M | $19.3M | ||
| Q3 24 | $16.6M | $4.9M | ||
| Q2 24 | $-33.7M | $16.5M | ||
| Q1 24 | $69.7M | $-3.9M |
| Q4 25 | $-8.9M | $27.9M | ||
| Q3 25 | $29.8M | $12.8M | ||
| Q2 25 | $-57.8M | $1.2M | ||
| Q1 25 | $38.7M | $11.0K | ||
| Q4 24 | $-43.7M | $18.0M | ||
| Q3 24 | $15.0M | $4.6M | ||
| Q2 24 | $-35.2M | $13.2M | ||
| Q1 24 | $60.6M | $-6.5M |
| Q4 25 | -7.8% | 14.9% | ||
| Q3 25 | 22.6% | 7.0% | ||
| Q2 25 | -56.3% | 0.8% | ||
| Q1 25 | 16.0% | 0.0% | ||
| Q4 24 | -34.4% | 12.5% | ||
| Q3 24 | 10.6% | 3.4% | ||
| Q2 24 | -30.2% | 10.8% | ||
| Q1 24 | 24.7% | -5.5% |
| Q4 25 | 2.0% | 0.1% | ||
| Q3 25 | 1.7% | 0.3% | ||
| Q2 25 | 1.3% | 0.6% | ||
| Q1 25 | 1.0% | 1.7% | ||
| Q4 24 | 2.1% | 0.9% | ||
| Q3 24 | 1.2% | 0.3% | ||
| Q2 24 | 1.3% | 2.7% | ||
| Q1 24 | 3.7% | 2.1% |
| Q4 25 | — | 2.29× | ||
| Q3 25 | 25.40× | 1.52× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.22× | ||
| Q4 24 | — | 1.96× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 2.77× | ||
| Q1 24 | 10.86× | -0.52× |
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% |
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
