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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and Nutex Health, Inc. (NUTX). Click either name above to swap in a different company.
Nutex Health, Inc. is the larger business by last-quarter revenue ($151.7M vs $114.9M, roughly 1.3× DULUTH HOLDINGS INC.). Nutex Health, Inc. runs the higher net margin — 7.8% vs -8.8%, a 16.6% gap on every dollar of revenue. On growth, DULUTH HOLDINGS INC. posted the faster year-over-year revenue change (-9.6% vs -41.1%). Nutex Health, Inc. produced more free cash flow last quarter ($69.0M vs $-8.9M). Over the past eight quarters, Nutex Health, Inc.'s revenue compounded faster (50.0% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
Nutex Health Inc. is an American for-profit health care company and operator of healthcare facilities headquartered in Houston, Texas.
DLTH vs NUTX — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $151.7M |
| Net Profit | $-10.1M | $11.8M |
| Gross Margin | 53.8% | 30.4% |
| Operating Margin | -7.7% | 20.4% |
| Net Margin | -8.8% | 7.8% |
| Revenue YoY | -9.6% | -41.1% |
| Net Profit YoY | 64.6% | -80.8% |
| EPS (diluted) | $-0.29 | $2.34 |
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 | $151.7M | ||
| Q3 25 | $131.7M | $267.8M | ||
| Q2 25 | $102.7M | $244.0M | ||
| Q1 25 | $241.3M | $211.8M | ||
| Q4 24 | $127.1M | $257.6M | ||
| Q3 24 | $141.6M | $78.8M | ||
| Q2 24 | $116.7M | $76.1M | ||
| Q1 24 | $245.6M | $67.5M |
| Q4 25 | $-10.1M | $11.8M | ||
| Q3 25 | $1.3M | $55.4M | ||
| Q2 25 | $-15.3M | $-17.7M | ||
| Q1 25 | $-5.6M | $21.2M | ||
| Q4 24 | $-28.2M | $61.6M | ||
| Q3 24 | $-2.0M | $-8.8M | ||
| Q2 24 | $-7.9M | $-364.0K | ||
| Q1 24 | $6.4M | $-364.0K |
| Q4 25 | 53.8% | 30.4% | ||
| Q3 25 | 54.7% | 57.8% | ||
| Q2 25 | 52.0% | 51.2% | ||
| Q1 25 | 44.1% | 55.9% | ||
| Q4 24 | 52.3% | 55.0% | ||
| Q3 24 | 52.3% | 27.8% | ||
| Q2 24 | 52.8% | 29.7% | ||
| Q1 24 | 48.2% | 15.1% |
| Q4 25 | -7.7% | 20.4% | ||
| Q3 25 | 1.8% | 48.7% | ||
| Q2 25 | -12.0% | 13.8% | ||
| Q1 25 | -1.8% | 38.1% | ||
| Q4 24 | -17.4% | 44.4% | ||
| Q3 24 | -1.1% | 12.3% | ||
| Q2 24 | -7.7% | 7.0% | ||
| Q1 24 | 3.6% | 2.1% |
| Q4 25 | -8.8% | 7.8% | ||
| Q3 25 | 1.0% | 20.7% | ||
| Q2 25 | -14.9% | -7.3% | ||
| Q1 25 | -2.3% | 10.0% | ||
| Q4 24 | -22.2% | 23.9% | ||
| Q3 24 | -1.4% | -11.2% | ||
| Q2 24 | -6.7% | -0.5% | ||
| Q1 24 | 2.6% | -0.5% |
| Q4 25 | $-0.29 | $2.34 | ||
| Q3 25 | $0.04 | $7.76 | ||
| Q2 25 | $-0.45 | $-2.95 | ||
| Q1 25 | $-0.17 | $3.33 | ||
| Q4 24 | $-0.84 | $11.56 | ||
| Q3 24 | $-0.06 | $-1.72 | ||
| Q2 24 | $-0.24 | $-0.07 | ||
| Q1 24 | $0.20 | $-0.08 |
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 | $185.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $160.6M | $329.4M |
| Total Assets | $468.0M | $918.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $185.6M | ||
| Q3 25 | $5.7M | $166.0M | ||
| Q2 25 | $8.6M | $96.7M | ||
| Q1 25 | $3.3M | $84.7M | ||
| Q4 24 | $9.3M | $40.6M | ||
| Q3 24 | $9.8M | $46.9M | ||
| Q2 24 | $6.8M | $40.8M | ||
| Q1 24 | $32.2M | $30.0M |
| Q4 25 | $160.6M | $329.4M | ||
| Q3 25 | $170.0M | $317.2M | ||
| Q2 25 | $167.9M | $235.3M | ||
| Q1 25 | $182.7M | $176.9M | ||
| Q4 24 | $188.1M | $132.4M | ||
| Q3 24 | $215.7M | $60.4M | ||
| Q2 24 | $218.4M | $62.7M | ||
| Q1 24 | $222.8M | $63.0M |
| Q4 25 | $468.0M | $918.5M | ||
| Q3 25 | $433.8M | $964.5M | ||
| Q2 25 | $463.7M | $841.0M | ||
| Q1 25 | $452.4M | $761.9M | ||
| Q4 24 | $533.1M | $655.3M | ||
| Q3 24 | $488.6M | $438.5M | ||
| Q2 24 | $471.4M | $422.4M | ||
| Q1 24 | $491.2M | $404.3M |
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 | $70.4M |
| Free Cash FlowOCF − Capex | $-8.9M | $69.0M |
| FCF MarginFCF / Revenue | -7.8% | 45.5% |
| Capex IntensityCapex / Revenue | 2.0% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 5.95× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | $245.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.7M | $70.4M | ||
| Q3 25 | $32.0M | $99.5M | ||
| Q2 25 | $-56.5M | $27.3M | ||
| Q1 25 | $41.2M | $51.0M | ||
| Q4 24 | $-41.1M | $54.0K | ||
| Q3 24 | $16.6M | $6.8M | ||
| Q2 24 | $-33.7M | $13.3M | ||
| Q1 24 | $69.7M | $3.1M |
| Q4 25 | $-8.9M | $69.0M | ||
| Q3 25 | $29.8M | $99.2M | ||
| Q2 25 | $-57.8M | $26.5M | ||
| Q1 25 | $38.7M | $50.9M | ||
| Q4 24 | $-43.7M | $-341.0K | ||
| Q3 24 | $15.0M | $6.2M | ||
| Q2 24 | $-35.2M | $12.7M | ||
| Q1 24 | $60.6M | $2.3M |
| Q4 25 | -7.8% | 45.5% | ||
| Q3 25 | 22.6% | 37.0% | ||
| Q2 25 | -56.3% | 10.9% | ||
| Q1 25 | 16.0% | 24.0% | ||
| Q4 24 | -34.4% | -0.1% | ||
| Q3 24 | 10.6% | 7.8% | ||
| Q2 24 | -30.2% | 16.7% | ||
| Q1 24 | 24.7% | 3.4% |
| Q4 25 | 2.0% | 0.9% | ||
| Q3 25 | 1.7% | 0.1% | ||
| Q2 25 | 1.3% | 0.3% | ||
| Q1 25 | 1.0% | 0.0% | ||
| Q4 24 | 2.1% | 0.2% | ||
| Q3 24 | 1.2% | 0.8% | ||
| Q2 24 | 1.3% | 0.7% | ||
| Q1 24 | 3.7% | 1.1% |
| Q4 25 | — | 5.95× | ||
| Q3 25 | 25.40× | 1.80× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.40× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 10.86× | — |
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% |
NUTX
| Hospital Division | $143.7M | 95% |
| Population Health Management Division | $8.0M | 5% |
