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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and PennyMac Mortgage Investment Trust (PMT). Click either name above to swap in a different company.
DULUTH HOLDINGS INC. is the larger business by last-quarter revenue ($114.9M vs $93.6M, roughly 1.2× PennyMac Mortgage Investment Trust). PennyMac Mortgage Investment Trust runs the higher net margin — 56.0% vs -8.8%, a 64.8% gap on every dollar of revenue. On growth, DULUTH HOLDINGS INC. posted the faster year-over-year revenue change (-9.6% vs -13.3%). Over the past eight quarters, PennyMac Mortgage Investment Trust's revenue compounded faster (12.3% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
PennyMac Mortgage Investment Trust is a U.S.-headquartered real estate investment trust specializing in residential mortgage assets. It invests in performing and non-performing mortgage loans, mortgage-backed securities, and credit risk transfer instruments, operating across investment management and mortgage servicing segments in the U.S. housing market.
DLTH vs PMT — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $93.6M |
| Net Profit | $-10.1M | $52.4M |
| Gross Margin | 53.8% | — |
| Operating Margin | -7.7% | 38.6% |
| Net Margin | -8.8% | 56.0% |
| Revenue YoY | -9.6% | -13.3% |
| Net Profit YoY | 64.6% | 12.5% |
| EPS (diluted) | $-0.29 | $0.49 |
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 | $93.6M | ||
| Q3 25 | $131.7M | $99.2M | ||
| Q2 25 | $102.7M | $70.2M | ||
| Q1 25 | $241.3M | $44.5M | ||
| Q4 24 | $127.1M | $107.9M | ||
| Q3 24 | $141.6M | $80.9M | ||
| Q2 24 | $116.7M | $71.2M | ||
| Q1 24 | $245.6M | $74.2M |
| Q4 25 | $-10.1M | $52.4M | ||
| Q3 25 | $1.3M | $58.3M | ||
| Q2 25 | $-15.3M | $7.5M | ||
| Q1 25 | $-5.6M | $9.7M | ||
| Q4 24 | $-28.2M | $46.5M | ||
| Q3 24 | $-2.0M | $41.4M | ||
| Q2 24 | $-7.9M | $25.4M | ||
| Q1 24 | $6.4M | $47.6M |
| 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% | 38.6% | ||
| Q3 25 | 1.8% | 47.4% | ||
| Q2 25 | -12.0% | 24.2% | ||
| Q1 25 | -1.8% | -14.2% | ||
| Q4 24 | -17.4% | 51.1% | ||
| Q3 24 | -1.1% | 32.8% | ||
| Q2 24 | -7.7% | 40.2% | ||
| Q1 24 | 3.6% | 43.6% |
| Q4 25 | -8.8% | 56.0% | ||
| Q3 25 | 1.0% | 58.7% | ||
| Q2 25 | -14.9% | 10.7% | ||
| Q1 25 | -2.3% | 21.8% | ||
| Q4 24 | -22.2% | 43.1% | ||
| Q3 24 | -1.4% | 51.2% | ||
| Q2 24 | -6.7% | 35.7% | ||
| Q1 24 | 2.6% | 64.2% |
| Q4 25 | $-0.29 | $0.49 | ||
| Q3 25 | $0.04 | $0.55 | ||
| Q2 25 | $-0.45 | $-0.04 | ||
| Q1 25 | $-0.17 | $-0.01 | ||
| Q4 24 | $-0.84 | $0.45 | ||
| Q3 24 | $-0.06 | $0.36 | ||
| Q2 24 | $-0.24 | $0.17 | ||
| Q1 24 | $0.20 | $0.39 |
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 | $190.5M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $160.6M | $1.9B |
| Total Assets | $468.0M | $21.3B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $190.5M | ||
| Q3 25 | $5.7M | $181.0M | ||
| Q2 25 | $8.6M | $108.6M | ||
| Q1 25 | $3.3M | $204.2M | ||
| Q4 24 | $9.3M | $103.2M | ||
| Q3 24 | $9.8M | $102.8M | ||
| Q2 24 | $6.8M | $336.3M | ||
| Q1 24 | $32.2M | $343.3M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $299.0M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $968.4M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.4B | ||
| Q1 24 | — | $5.1B |
| Q4 25 | $160.6M | $1.9B | ||
| Q3 25 | $170.0M | $1.9B | ||
| Q2 25 | $167.9M | $1.9B | ||
| Q1 25 | $182.7M | $1.9B | ||
| Q4 24 | $188.1M | $1.9B | ||
| Q3 24 | $215.7M | $1.9B | ||
| Q2 24 | $218.4M | $1.9B | ||
| Q1 24 | $222.8M | $2.0B |
| Q4 25 | $468.0M | $21.3B | ||
| Q3 25 | $433.8M | $18.5B | ||
| Q2 25 | $463.7M | $16.8B | ||
| Q1 25 | $452.4M | $14.9B | ||
| Q4 24 | $533.1M | $14.4B | ||
| Q3 24 | $488.6M | $13.1B | ||
| Q2 24 | $471.4M | $12.1B | ||
| Q1 24 | $491.2M | $12.3B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 2.70× | ||
| Q2 24 | — | 2.76× | ||
| Q1 24 | — | 2.60× |
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 | $-7.2B |
| Free Cash FlowOCF − Capex | $-8.9M | — |
| FCF MarginFCF / Revenue | -7.8% | — |
| Capex IntensityCapex / Revenue | 2.0% | — |
| Cash ConversionOCF / Net Profit | — | -137.76× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.7M | $-7.2B | ||
| Q3 25 | $32.0M | $-1.3B | ||
| Q2 25 | $-56.5M | $-2.0B | ||
| Q1 25 | $41.2M | $-594.3M | ||
| Q4 24 | $-41.1M | $-2.7B | ||
| Q3 24 | $16.6M | $-983.8M | ||
| Q2 24 | $-33.7M | $243.8M | ||
| Q1 24 | $69.7M | $-342.4M |
| 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 | — | -137.76× | ||
| Q3 25 | 25.40× | -22.26× | ||
| Q2 25 | — | -267.53× | ||
| Q1 25 | — | -61.39× | ||
| Q4 24 | — | -58.08× | ||
| Q3 24 | — | -23.76× | ||
| Q2 24 | — | 9.59× | ||
| Q1 24 | 10.86× | -7.19× |
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% |
PMT
| Other | $55.0M | 59% |
| Interest Rate Sensitive Strategies | $31.4M | 34% |
| Correspondent Production | $7.2M | 8% |
