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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and STURM RUGER & CO INC (RGR). Click either name above to swap in a different company.
STURM RUGER & CO INC is the larger business by last-quarter revenue ($151.1M vs $114.9M, roughly 1.3× DULUTH HOLDINGS INC.). On growth, STURM RUGER & CO INC posted the faster year-over-year revenue change (3.6% vs -9.6%). STURM RUGER & CO INC produced more free cash flow last quarter ($12.3M vs $-8.9M). Over the past eight quarters, STURM RUGER & CO INC's revenue compounded faster (5.1% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
Sturm, Ruger & Company, Inc., better known by the shortened name Ruger, is an American firearm manufacturing company based in Southport, Connecticut, with production facilities also in Newport, New Hampshire; Mayodan, North Carolina; and Prescott, Arizona. The company was founded in 1949 by Alexander McCormick Sturm and William B. Ruger and has been publicly traded since 1969.
DLTH vs RGR — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $151.1M |
| Net Profit | $-10.1M | — |
| Gross Margin | 53.8% | 17.8% |
| Operating Margin | -7.7% | 2.3% |
| Net Margin | -8.8% | — |
| Revenue YoY | -9.6% | 3.6% |
| Net Profit YoY | 64.6% | — |
| 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 | $151.1M | ||
| Q3 25 | $131.7M | $126.8M | ||
| Q2 25 | $102.7M | $132.5M | ||
| Q1 25 | $241.3M | $135.7M | ||
| Q4 24 | $127.1M | $145.8M | ||
| Q3 24 | $141.6M | $122.3M | ||
| Q2 24 | $116.7M | $130.8M | ||
| Q1 24 | $245.6M | $136.8M |
| Q4 25 | $-10.1M | — | ||
| Q3 25 | $1.3M | $1.6M | ||
| Q2 25 | $-15.3M | $-17.2M | ||
| Q1 25 | $-5.6M | $7.8M | ||
| Q4 24 | $-28.2M | — | ||
| Q3 24 | $-2.0M | $4.7M | ||
| Q2 24 | $-7.9M | $8.3M | ||
| Q1 24 | $6.4M | $7.1M |
| Q4 25 | 53.8% | 17.8% | ||
| Q3 25 | 54.7% | 15.1% | ||
| Q2 25 | 52.0% | 3.9% | ||
| Q1 25 | 44.1% | 22.0% | ||
| Q4 24 | 52.3% | 22.8% | ||
| Q3 24 | 52.3% | 18.5% | ||
| Q2 24 | 52.8% | 22.3% | ||
| Q1 24 | 48.2% | 21.5% |
| Q4 25 | -7.7% | 2.3% | ||
| Q3 25 | 1.8% | -2.7% | ||
| Q2 25 | -12.0% | -15.6% | ||
| Q1 25 | -1.8% | 6.2% | ||
| Q4 24 | -17.4% | 7.8% | ||
| Q3 24 | -1.1% | 3.1% | ||
| Q2 24 | -7.7% | 6.9% | ||
| Q1 24 | 3.6% | 5.5% |
| Q4 25 | -8.8% | — | ||
| Q3 25 | 1.0% | 1.2% | ||
| Q2 25 | -14.9% | -13.0% | ||
| Q1 25 | -2.3% | 5.7% | ||
| Q4 24 | -22.2% | — | ||
| Q3 24 | -1.4% | 3.9% | ||
| Q2 24 | -6.7% | 6.3% | ||
| Q1 24 | 2.6% | 5.2% |
| Q4 25 | $-0.29 | $0.22 | ||
| Q3 25 | $0.04 | $0.10 | ||
| Q2 25 | $-0.45 | $-1.05 | ||
| Q1 25 | $-0.17 | $0.46 | ||
| Q4 24 | $-0.84 | $0.62 | ||
| Q3 24 | $-0.06 | $0.28 | ||
| Q2 24 | $-0.24 | $0.47 | ||
| Q1 24 | $0.20 | $0.40 |
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 | $92.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $160.6M | $283.8M |
| Total Assets | $468.0M | $342.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $92.5M | ||
| Q3 25 | $5.7M | $80.8M | ||
| Q2 25 | $8.6M | $101.4M | ||
| Q1 25 | $3.3M | $108.3M | ||
| Q4 24 | $9.3M | $105.5M | ||
| Q3 24 | $9.8M | $96.0M | ||
| Q2 24 | $6.8M | $105.6M | ||
| Q1 24 | $32.2M | $115.3M |
| Q4 25 | $160.6M | $283.8M | ||
| Q3 25 | $170.0M | $279.6M | ||
| Q2 25 | $167.9M | $289.3M | ||
| Q1 25 | $182.7M | $321.5M | ||
| Q4 24 | $188.1M | $319.6M | ||
| Q3 24 | $215.7M | $314.9M | ||
| Q2 24 | $218.4M | $321.5M | ||
| Q1 24 | $222.8M | $332.0M |
| Q4 25 | $468.0M | $342.0M | ||
| Q3 25 | $433.8M | $342.3M | ||
| Q2 25 | $463.7M | $349.5M | ||
| Q1 25 | $452.4M | $379.0M | ||
| Q4 24 | $533.1M | $384.0M | ||
| Q3 24 | $488.6M | $373.5M | ||
| Q2 24 | $471.4M | $376.7M | ||
| Q1 24 | $491.2M | $385.0M |
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 | $15.5M |
| Free Cash FlowOCF − Capex | $-8.9M | $12.3M |
| FCF MarginFCF / Revenue | -7.8% | 8.2% |
| Capex IntensityCapex / Revenue | 2.0% | 2.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | $38.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.7M | $15.5M | ||
| Q3 25 | $32.0M | $12.9M | ||
| Q2 25 | $-56.5M | $14.7M | ||
| Q1 25 | $41.2M | $11.1M | ||
| Q4 24 | $-41.1M | $20.0M | ||
| Q3 24 | $16.6M | $9.4M | ||
| Q2 24 | $-33.7M | $18.7M | ||
| Q1 24 | $69.7M | $7.3M |
| Q4 25 | $-8.9M | $12.3M | ||
| Q3 25 | $29.8M | $7.0M | ||
| Q2 25 | $-57.8M | $9.1M | ||
| Q1 25 | $38.7M | $10.0M | ||
| Q4 24 | $-43.7M | $16.4M | ||
| Q3 24 | $15.0M | $2.6M | ||
| Q2 24 | $-35.2M | $10.1M | ||
| Q1 24 | $60.6M | $5.6M |
| Q4 25 | -7.8% | 8.2% | ||
| Q3 25 | 22.6% | 5.5% | ||
| Q2 25 | -56.3% | 6.9% | ||
| Q1 25 | 16.0% | 7.4% | ||
| Q4 24 | -34.4% | 11.2% | ||
| Q3 24 | 10.6% | 2.1% | ||
| Q2 24 | -30.2% | 7.7% | ||
| Q1 24 | 24.7% | 4.1% |
| Q4 25 | 2.0% | 2.1% | ||
| Q3 25 | 1.7% | 4.6% | ||
| Q2 25 | 1.3% | 4.2% | ||
| Q1 25 | 1.0% | 0.8% | ||
| Q4 24 | 2.1% | 2.5% | ||
| Q3 24 | 1.2% | 5.5% | ||
| Q2 24 | 1.3% | 6.6% | ||
| Q1 24 | 3.7% | 1.3% |
| Q4 25 | — | — | ||
| Q3 25 | 25.40× | 8.15× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.43× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.98× | ||
| Q2 24 | — | 2.27× | ||
| Q1 24 | 10.86× | 1.04× |
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% |
RGR
| Firearms | $150.6M | 100% |
| Castings | $7.3M | 5% |
