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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and SunOpta Inc. (STKL). Click either name above to swap in a different company.
SunOpta Inc. is the larger business by last-quarter revenue ($205.4M vs $114.9M, roughly 1.8× DULUTH HOLDINGS INC.). SunOpta Inc. runs the higher net margin — 0.4% vs -8.8%, a 9.2% gap on every dollar of revenue. On growth, SunOpta Inc. posted the faster year-over-year revenue change (16.6% vs -9.6%). SunOpta Inc. produced more free cash flow last quarter ($12.1M vs $-8.9M). Over the past eight quarters, SunOpta Inc.'s revenue compounded faster (7.4% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
SunOpta, Inc. is a multi-national food and mineral company headquartered in Eden Prairie, Minnesota and founded in 1973 in Canada.
DLTH vs STKL — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $205.4M |
| Net Profit | $-10.1M | $816.0K |
| Gross Margin | 53.8% | 12.4% |
| Operating Margin | -7.7% | 3.3% |
| Net Margin | -8.8% | 0.4% |
| Revenue YoY | -9.6% | 16.6% |
| Net Profit YoY | 64.6% | 113.1% |
| EPS (diluted) | $-0.29 | $0.01 |
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 | — | ||
| Q3 25 | $131.7M | $205.4M | ||
| Q2 25 | $102.7M | $191.5M | ||
| Q1 25 | $241.3M | $201.6M | ||
| Q4 24 | $127.1M | $193.9M | ||
| Q3 24 | $141.6M | $175.9M | ||
| Q2 24 | $116.7M | $169.5M | ||
| Q1 24 | $245.6M | $184.4M |
| Q4 25 | $-10.1M | — | ||
| Q3 25 | $1.3M | $816.0K | ||
| Q2 25 | $-15.3M | $4.4M | ||
| Q1 25 | $-5.6M | $4.8M | ||
| Q4 24 | $-28.2M | $-8.7M | ||
| Q3 24 | $-2.0M | $-6.2M | ||
| Q2 24 | $-7.9M | $-5.3M | ||
| Q1 24 | $6.4M | $2.9M |
| Q4 25 | 53.8% | — | ||
| Q3 25 | 54.7% | 12.4% | ||
| Q2 25 | 52.0% | 14.8% | ||
| Q1 25 | 44.1% | 15.0% | ||
| Q4 24 | 52.3% | 10.9% | ||
| Q3 24 | 52.3% | 13.0% | ||
| Q2 24 | 52.8% | 12.5% | ||
| Q1 24 | 48.2% | 16.8% |
| Q4 25 | -7.7% | — | ||
| Q3 25 | 1.8% | 3.3% | ||
| Q2 25 | -12.0% | 5.5% | ||
| Q1 25 | -1.8% | 5.2% | ||
| Q4 24 | -17.4% | 1.4% | ||
| Q3 24 | -1.1% | 0.5% | ||
| Q2 24 | -7.7% | 1.2% | ||
| Q1 24 | 3.6% | 5.5% |
| Q4 25 | -8.8% | — | ||
| Q3 25 | 1.0% | 0.4% | ||
| Q2 25 | -14.9% | 2.3% | ||
| Q1 25 | -2.3% | 2.4% | ||
| Q4 24 | -22.2% | -4.5% | ||
| Q3 24 | -1.4% | -3.5% | ||
| Q2 24 | -6.7% | -3.1% | ||
| Q1 24 | 2.6% | 1.6% |
| Q4 25 | $-0.29 | — | ||
| Q3 25 | $0.04 | $0.01 | ||
| Q2 25 | $-0.45 | $0.03 | ||
| Q1 25 | $-0.17 | $0.04 | ||
| Q4 24 | $-0.84 | $-0.08 | ||
| Q3 24 | $-0.06 | $-0.05 | ||
| Q2 24 | $-0.24 | $-0.04 | ||
| Q1 24 | $0.20 | $0.02 |
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 | $2.2M |
| Total DebtLower is stronger | — | $250.8M |
| Stockholders' EquityBook value | $160.6M | $162.8M |
| Total Assets | $468.0M | $694.1M |
| Debt / EquityLower = less leverage | — | 1.54× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | — | ||
| Q3 25 | $5.7M | $2.2M | ||
| Q2 25 | $8.6M | $2.2M | ||
| Q1 25 | $3.3M | $2.3M | ||
| Q4 24 | $9.3M | $1.6M | ||
| Q3 24 | $9.8M | $2.9M | ||
| Q2 24 | $6.8M | $3.2M | ||
| Q1 24 | $32.2M | $1.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | $250.8M | ||
| Q2 25 | — | $263.3M | ||
| Q1 25 | — | $260.6M | ||
| Q4 24 | — | $265.2M | ||
| Q3 24 | — | $289.9M | ||
| Q2 24 | — | $303.1M | ||
| Q1 24 | — | $258.8M |
| Q4 25 | $160.6M | — | ||
| Q3 25 | $170.0M | $162.8M | ||
| Q2 25 | $167.9M | $159.8M | ||
| Q1 25 | $182.7M | $154.8M | ||
| Q4 24 | $188.1M | $148.6M | ||
| Q3 24 | $215.7M | $155.0M | ||
| Q2 24 | $218.4M | $158.8M | ||
| Q1 24 | $222.8M | $163.6M |
| Q4 25 | $468.0M | — | ||
| Q3 25 | $433.8M | $694.1M | ||
| Q2 25 | $463.7M | $704.9M | ||
| Q1 25 | $452.4M | $690.7M | ||
| Q4 24 | $533.1M | $668.5M | ||
| Q3 24 | $488.6M | $699.3M | ||
| Q2 24 | $471.4M | $704.7M | ||
| Q1 24 | $491.2M | $671.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.54× | ||
| Q2 25 | — | 1.65× | ||
| Q1 25 | — | 1.68× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | — | 1.58× |
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 | $16.3M |
| Free Cash FlowOCF − Capex | $-8.9M | $12.1M |
| FCF MarginFCF / Revenue | -7.8% | 5.9% |
| Capex IntensityCapex / Revenue | 2.0% | 2.1% |
| Cash ConversionOCF / Net Profit | — | 20.03× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | $36.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.7M | — | ||
| Q3 25 | $32.0M | $16.3M | ||
| Q2 25 | $-56.5M | $-4.5M | ||
| Q1 25 | $41.2M | $22.3M | ||
| Q4 24 | $-41.1M | $33.1M | ||
| Q3 24 | $16.6M | $17.2M | ||
| Q2 24 | $-33.7M | $-5.6M | ||
| Q1 24 | $69.7M | $5.3M |
| Q4 25 | $-8.9M | — | ||
| Q3 25 | $29.8M | $12.1M | ||
| Q2 25 | $-57.8M | $-9.2M | ||
| Q1 25 | $38.7M | $9.5M | ||
| Q4 24 | $-43.7M | $24.0M | ||
| Q3 24 | $15.0M | $11.7M | ||
| Q2 24 | $-35.2M | $-15.3M | ||
| Q1 24 | $60.6M | $-2.3M |
| Q4 25 | -7.8% | — | ||
| Q3 25 | 22.6% | 5.9% | ||
| Q2 25 | -56.3% | -4.8% | ||
| Q1 25 | 16.0% | 4.7% | ||
| Q4 24 | -34.4% | 12.4% | ||
| Q3 24 | 10.6% | 6.6% | ||
| Q2 24 | -30.2% | -9.0% | ||
| Q1 24 | 24.7% | -1.2% |
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.7% | 2.1% | ||
| Q2 25 | 1.3% | 2.5% | ||
| Q1 25 | 1.0% | 6.3% | ||
| Q4 24 | 2.1% | 4.7% | ||
| Q3 24 | 1.2% | 3.2% | ||
| Q2 24 | 1.3% | 5.7% | ||
| Q1 24 | 3.7% | 4.1% |
| Q4 25 | — | — | ||
| Q3 25 | 25.40× | 20.03× | ||
| Q2 25 | — | -1.03× | ||
| Q1 25 | — | 4.63× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 10.86× | 1.83× |
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% |
STKL
| Beverages And Broths | $161.4M | 79% |
| Fruit Snacks | $40.9M | 20% |
| Ingredients | $3.1M | 2% |
