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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and SHORE BANCSHARES INC (SHBI). Click either name above to swap in a different company.
DULUTH HOLDINGS INC. is the larger business by last-quarter revenue ($114.9M vs $59.1M, roughly 1.9× SHORE BANCSHARES INC). On growth, SHORE BANCSHARES INC posted the faster year-over-year revenue change (11.8% vs -9.6%). SHORE BANCSHARES INC produced more free cash flow last quarter ($59.2M vs $-8.9M). Over the past eight quarters, SHORE BANCSHARES INC's revenue compounded faster (11.3% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
Shore Bancshares Inc. is a U.S. regional bank holding company headquartered in Maryland. It offers a full range of retail and commercial banking services, including deposit products, personal and commercial loans, and wealth management solutions, primarily serving local individual customers, small businesses and mid-sized enterprises in its operating regions.
DLTH vs SHBI — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $59.1M |
| Net Profit | $-10.1M | — |
| Gross Margin | 53.8% | — |
| Operating Margin | -7.7% | 35.2% |
| Net Margin | -8.8% | — |
| Revenue YoY | -9.6% | 11.8% |
| Net Profit YoY | 64.6% | — |
| EPS (diluted) | $-0.29 | $0.48 |
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 | $59.1M | ||
| Q3 25 | $131.7M | $56.4M | ||
| Q2 25 | $102.7M | $56.6M | ||
| Q1 25 | $241.3M | $53.0M | ||
| Q4 24 | $127.1M | $52.9M | ||
| Q3 24 | $141.6M | $50.5M | ||
| Q2 24 | $116.7M | $50.6M | ||
| Q1 24 | $245.6M | $47.7M |
| Q4 25 | $-10.1M | — | ||
| Q3 25 | $1.3M | $14.3M | ||
| Q2 25 | $-15.3M | $15.5M | ||
| Q1 25 | $-5.6M | $13.8M | ||
| Q4 24 | $-28.2M | — | ||
| Q3 24 | $-2.0M | $11.2M | ||
| Q2 24 | $-7.9M | $11.2M | ||
| Q1 24 | $6.4M | $8.2M |
| 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% | 35.2% | ||
| Q3 25 | 1.8% | 33.7% | ||
| Q2 25 | -12.0% | 36.5% | ||
| Q1 25 | -1.8% | 34.4% | ||
| Q4 24 | -17.4% | 34.3% | ||
| Q3 24 | -1.1% | 29.6% | ||
| Q2 24 | -7.7% | 29.7% | ||
| Q1 24 | 3.6% | 22.2% |
| Q4 25 | -8.8% | — | ||
| Q3 25 | 1.0% | 25.5% | ||
| Q2 25 | -14.9% | 27.4% | ||
| Q1 25 | -2.3% | 26.0% | ||
| Q4 24 | -22.2% | — | ||
| Q3 24 | -1.4% | 22.1% | ||
| Q2 24 | -6.7% | 22.2% | ||
| Q1 24 | 2.6% | 17.2% |
| Q4 25 | $-0.29 | $0.48 | ||
| Q3 25 | $0.04 | $0.43 | ||
| Q2 25 | $-0.45 | $0.46 | ||
| Q1 25 | $-0.17 | $0.41 | ||
| Q4 24 | $-0.84 | $0.39 | ||
| Q3 24 | $-0.06 | $0.34 | ||
| Q2 24 | $-0.24 | $0.34 | ||
| Q1 24 | $0.20 | $0.25 |
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 | $355.6M |
| Total DebtLower is stronger | — | $89.1M |
| Stockholders' EquityBook value | $160.6M | $589.9M |
| Total Assets | $468.0M | $6.3B |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $355.6M | ||
| Q3 25 | $5.7M | $416.5M | ||
| Q2 25 | $8.6M | $185.0M | ||
| Q1 25 | $3.3M | $389.0M | ||
| Q4 24 | $9.3M | $459.9M | ||
| Q3 24 | $9.8M | $183.6M | ||
| Q2 24 | $6.8M | $138.9M | ||
| Q1 24 | $32.2M | $114.6M |
| Q4 25 | — | $89.1M | ||
| Q3 25 | — | $74.5M | ||
| Q2 25 | — | $74.2M | ||
| Q1 25 | — | $74.0M | ||
| Q4 24 | — | $73.7M | ||
| Q3 24 | — | $123.5M | ||
| Q2 24 | — | $122.8M | ||
| Q1 24 | — | $72.6M |
| Q4 25 | $160.6M | $589.9M | ||
| Q3 25 | $170.0M | $577.2M | ||
| Q2 25 | $167.9M | $565.2M | ||
| Q1 25 | $182.7M | $552.5M | ||
| Q4 24 | $188.1M | $541.1M | ||
| Q3 24 | $215.7M | $533.3M | ||
| Q2 24 | $218.4M | $522.8M | ||
| Q1 24 | $222.8M | $515.2M |
| Q4 25 | $468.0M | $6.3B | ||
| Q3 25 | $433.8M | $6.3B | ||
| Q2 25 | $463.7M | $6.0B | ||
| Q1 25 | $452.4M | $6.2B | ||
| Q4 24 | $533.1M | $6.2B | ||
| Q3 24 | $488.6M | $5.9B | ||
| Q2 24 | $471.4M | $5.9B | ||
| Q1 24 | $491.2M | $5.8B |
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.13× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.23× | ||
| Q1 24 | — | 0.14× |
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 | $62.4M |
| Free Cash FlowOCF − Capex | $-8.9M | $59.2M |
| FCF MarginFCF / Revenue | -7.8% | 100.2% |
| Capex IntensityCapex / Revenue | 2.0% | 5.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | $110.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.7M | $62.4M | ||
| Q3 25 | $32.0M | $42.5M | ||
| Q2 25 | $-56.5M | $-8.3M | ||
| Q1 25 | $41.2M | $19.8M | ||
| Q4 24 | $-41.1M | $46.9M | ||
| Q3 24 | $16.6M | $9.1M | ||
| Q2 24 | $-33.7M | $3.0M | ||
| Q1 24 | $69.7M | $2.4M |
| Q4 25 | $-8.9M | $59.2M | ||
| Q3 25 | $29.8M | $41.9M | ||
| Q2 25 | $-57.8M | $-9.2M | ||
| Q1 25 | $38.7M | $18.8M | ||
| Q4 24 | $-43.7M | $41.7M | ||
| Q3 24 | $15.0M | $8.4M | ||
| Q2 24 | $-35.2M | $1.4M | ||
| Q1 24 | $60.6M | $614.0K |
| Q4 25 | -7.8% | 100.2% | ||
| Q3 25 | 22.6% | 74.3% | ||
| Q2 25 | -56.3% | -16.3% | ||
| Q1 25 | 16.0% | 35.4% | ||
| Q4 24 | -34.4% | 78.8% | ||
| Q3 24 | 10.6% | 16.7% | ||
| Q2 24 | -30.2% | 2.9% | ||
| Q1 24 | 24.7% | 1.3% |
| Q4 25 | 2.0% | 5.4% | ||
| Q3 25 | 1.7% | 1.0% | ||
| Q2 25 | 1.3% | 1.6% | ||
| Q1 25 | 1.0% | 1.9% | ||
| Q4 24 | 2.1% | 9.9% | ||
| Q3 24 | 1.2% | 1.2% | ||
| Q2 24 | 1.3% | 3.1% | ||
| Q1 24 | 3.7% | 3.7% |
| Q4 25 | — | — | ||
| Q3 25 | 25.40× | 2.96× | ||
| Q2 25 | — | -0.54× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 0.27× | ||
| Q1 24 | 10.86× | 0.29× |
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% |
SHBI
Segment breakdown not available.
