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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and T1 Energy Inc. (TE). Click either name above to swap in a different company.
T1 Energy Inc. is the larger business by last-quarter revenue ($210.5M vs $114.9M, roughly 1.8× DULUTH HOLDINGS INC.). DULUTH HOLDINGS INC. runs the higher net margin — -8.8% vs -62.0%, a 53.2% gap on every dollar of revenue. T1 Energy Inc. produced more free cash flow last quarter ($55.0M vs $-8.9M).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
Sony Energy Devices Corporation , is a Japanese multinational company specializing in a variety of areas in the energy industry, and is a wholly owned subsidiary and part of the Devices Group of Sony. The company was established in February 1975 in Fukushima, Japan.
DLTH vs TE — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $210.5M |
| Net Profit | $-10.1M | $-130.6M |
| Gross Margin | 53.8% | 10.0% |
| Operating Margin | -7.7% | -45.0% |
| Net Margin | -8.8% | -62.0% |
| Revenue YoY | -9.6% | — |
| Net Profit YoY | 64.6% | -375.2% |
| EPS (diluted) | $-0.29 | $-0.87 |
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 | $210.5M | ||
| Q2 25 | $102.7M | $132.8M | ||
| Q1 25 | $241.3M | $53.5M | ||
| Q4 24 | $127.1M | — | ||
| Q3 24 | $141.6M | $0 | ||
| Q2 24 | $116.7M | $0 | ||
| Q1 24 | $245.6M | $0 |
| Q4 25 | $-10.1M | — | ||
| Q3 25 | $1.3M | $-130.6M | ||
| Q2 25 | $-15.3M | $-31.9M | ||
| Q1 25 | $-5.6M | $-16.2M | ||
| Q4 24 | $-28.2M | — | ||
| Q3 24 | $-2.0M | $-27.5M | ||
| Q2 24 | $-7.9M | $-27.0M | ||
| Q1 24 | $6.4M | $-28.5M |
| Q4 25 | 53.8% | — | ||
| Q3 25 | 54.7% | 10.0% | ||
| Q2 25 | 52.0% | 24.7% | ||
| Q1 25 | 44.1% | 33.3% | ||
| Q4 24 | 52.3% | — | ||
| Q3 24 | 52.3% | — | ||
| Q2 24 | 52.8% | — | ||
| Q1 24 | 48.2% | — |
| Q4 25 | -7.7% | — | ||
| Q3 25 | 1.8% | -45.0% | ||
| Q2 25 | -12.0% | -22.0% | ||
| Q1 25 | -1.8% | -44.2% | ||
| Q4 24 | -17.4% | — | ||
| Q3 24 | -1.1% | — | ||
| Q2 24 | -7.7% | — | ||
| Q1 24 | 3.6% | — |
| Q4 25 | -8.8% | — | ||
| Q3 25 | 1.0% | -62.0% | ||
| Q2 25 | -14.9% | -24.0% | ||
| Q1 25 | -2.3% | -30.4% | ||
| Q4 24 | -22.2% | — | ||
| Q3 24 | -1.4% | — | ||
| Q2 24 | -6.7% | — | ||
| Q1 24 | 2.6% | — |
| Q4 25 | $-0.29 | — | ||
| Q3 25 | $0.04 | $-0.87 | ||
| Q2 25 | $-0.45 | $-0.21 | ||
| Q1 25 | $-0.17 | $-0.11 | ||
| Q4 24 | $-0.84 | — | ||
| Q3 24 | $-0.06 | $-0.20 | ||
| Q2 24 | $-0.24 | $-0.19 | ||
| Q1 24 | $0.20 | $-0.20 |
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 | $34.1M |
| Total DebtLower is stronger | — | $547.3M |
| Stockholders' EquityBook value | $160.6M | $96.9M |
| Total Assets | $468.0M | $1.4B |
| Debt / EquityLower = less leverage | — | 5.65× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | — | ||
| Q3 25 | $5.7M | $34.1M | ||
| Q2 25 | $8.6M | $8.5M | ||
| Q1 25 | $3.3M | $48.9M | ||
| Q4 24 | $9.3M | — | ||
| Q3 24 | $9.8M | $181.9M | ||
| Q2 24 | $6.8M | $219.6M | ||
| Q1 24 | $32.2M | $249.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | $547.3M | ||
| Q2 25 | — | $591.2M | ||
| Q1 25 | — | $603.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $602.3M |
| Q4 25 | $160.6M | — | ||
| Q3 25 | $170.0M | $96.9M | ||
| Q2 25 | $167.9M | $183.9M | ||
| Q1 25 | $182.7M | $201.9M | ||
| Q4 24 | $188.1M | — | ||
| Q3 24 | $215.7M | $538.7M | ||
| Q2 24 | $218.4M | $561.6M | ||
| Q1 24 | $222.8M | $582.3M |
| Q4 25 | $468.0M | — | ||
| Q3 25 | $433.8M | $1.4B | ||
| Q2 25 | $463.7M | $1.4B | ||
| Q1 25 | $452.4M | $1.4B | ||
| Q4 24 | $533.1M | — | ||
| Q3 24 | $488.6M | $615.0M | ||
| Q2 24 | $471.4M | $644.4M | ||
| Q1 24 | $491.2M | $670.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | 5.65× | ||
| Q2 25 | — | 3.21× | ||
| Q1 25 | — | 2.99× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.03× |
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 | $63.9M |
| Free Cash FlowOCF − Capex | $-8.9M | $55.0M |
| FCF MarginFCF / Revenue | -7.8% | 26.1% |
| Capex IntensityCapex / Revenue | 2.0% | 4.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | $-42.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.7M | — | ||
| Q3 25 | $32.0M | $63.9M | ||
| Q2 25 | $-56.5M | $33.4M | ||
| Q1 25 | $41.2M | $-44.8M | ||
| Q4 24 | $-41.1M | — | ||
| Q3 24 | $16.6M | $-28.4M | ||
| Q2 24 | $-33.7M | $-28.0M | ||
| Q1 24 | $69.7M | $-16.2M |
| Q4 25 | $-8.9M | — | ||
| Q3 25 | $29.8M | $55.0M | ||
| Q2 25 | $-57.8M | $10.6M | ||
| Q1 25 | $38.7M | $-74.0M | ||
| Q4 24 | $-43.7M | — | ||
| Q3 24 | $15.0M | $-34.0M | ||
| Q2 24 | $-35.2M | $-35.6M | ||
| Q1 24 | $60.6M | $-37.7M |
| Q4 25 | -7.8% | — | ||
| Q3 25 | 22.6% | 26.1% | ||
| Q2 25 | -56.3% | 8.0% | ||
| Q1 25 | 16.0% | -138.4% | ||
| Q4 24 | -34.4% | — | ||
| Q3 24 | 10.6% | — | ||
| Q2 24 | -30.2% | — | ||
| Q1 24 | 24.7% | — |
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.7% | 4.2% | ||
| Q2 25 | 1.3% | 17.2% | ||
| Q1 25 | 1.0% | 54.5% | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 3.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | 25.40× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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% |
TE
| Related Party | $120.1M | 57% |
| Nonrelated Party | $90.4M | 43% |
