vs
Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and USANA HEALTH SCIENCES INC (USNA). Click either name above to swap in a different company.
USANA HEALTH SCIENCES INC is the larger business by last-quarter revenue ($226.2M vs $114.9M, roughly 2.0× DULUTH HOLDINGS INC.). USANA HEALTH SCIENCES INC runs the higher net margin — 0.1% vs -8.8%, a 8.9% gap on every dollar of revenue. On growth, DULUTH HOLDINGS INC. posted the faster year-over-year revenue change (-9.6% vs -10.0%). Over the past eight quarters, USANA HEALTH SCIENCES INC's revenue compounded faster (3.1% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
Usana Health Sciences, Inc., or USANA, is an American multi-level marketing company based in Salt Lake City, Utah. As of 2021, Usana was the 14th largest direct-selling company in the world by revenue. The company manufactures most of its nutritional products, dietary supplements, and skincare products at a Salt Lake City facility. Its products are sold in 24 countries via a network of independent distributors.
DLTH vs USNA — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $226.2M |
| Net Profit | $-10.1M | $180.0K |
| Gross Margin | 53.8% | 78.2% |
| Operating Margin | -7.7% | 1.7% |
| Net Margin | -8.8% | 0.1% |
| Revenue YoY | -9.6% | -10.0% |
| Net Profit YoY | 64.6% | -74.0% |
| EPS (diluted) | $-0.29 | $-0.10 |
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 | $226.2M | ||
| Q3 25 | $131.7M | $213.7M | ||
| Q2 25 | $102.7M | $235.8M | ||
| Q1 25 | $241.3M | $249.5M | ||
| Q4 24 | $127.1M | $213.6M | ||
| Q3 24 | $141.6M | $200.2M | ||
| Q2 24 | $116.7M | $212.9M | ||
| Q1 24 | $245.6M | — |
| Q4 25 | $-10.1M | $180.0K | ||
| Q3 25 | $1.3M | $-6.5M | ||
| Q2 25 | $-15.3M | $9.7M | ||
| Q1 25 | $-5.6M | $9.4M | ||
| Q4 24 | $-28.2M | $4.5M | ||
| Q3 24 | $-2.0M | $10.6M | ||
| Q2 24 | $-7.9M | $10.4M | ||
| Q1 24 | $6.4M | — |
| Q4 25 | 53.8% | 78.2% | ||
| Q3 25 | 54.7% | 77.2% | ||
| Q2 25 | 52.0% | 78.7% | ||
| Q1 25 | 44.1% | 79.0% | ||
| Q4 24 | 52.3% | 82.0% | ||
| Q3 24 | 52.3% | 80.4% | ||
| Q2 24 | 52.8% | 81.1% | ||
| Q1 24 | 48.2% | — |
| Q4 25 | -7.7% | 1.7% | ||
| Q3 25 | 1.8% | 0.6% | ||
| Q2 25 | -12.0% | 7.1% | ||
| Q1 25 | -1.8% | 6.3% | ||
| Q4 24 | -17.4% | 3.8% | ||
| Q3 24 | -1.1% | 7.8% | ||
| Q2 24 | -7.7% | 8.4% | ||
| Q1 24 | 3.6% | — |
| Q4 25 | -8.8% | 0.1% | ||
| Q3 25 | 1.0% | -3.1% | ||
| Q2 25 | -14.9% | 4.1% | ||
| Q1 25 | -2.3% | 3.8% | ||
| Q4 24 | -22.2% | 2.1% | ||
| Q3 24 | -1.4% | 5.3% | ||
| Q2 24 | -6.7% | 4.9% | ||
| Q1 24 | 2.6% | — |
| Q4 25 | $-0.29 | $-0.10 | ||
| Q3 25 | $0.04 | $-0.36 | ||
| Q2 25 | $-0.45 | $0.52 | ||
| Q1 25 | $-0.17 | $0.49 | ||
| Q4 24 | $-0.84 | $0.23 | ||
| Q3 24 | $-0.06 | $0.56 | ||
| Q2 24 | $-0.24 | $0.54 | ||
| Q1 24 | $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 | $158.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $160.6M | — |
| Total Assets | $468.0M | $742.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $158.4M | ||
| Q3 25 | $5.7M | $145.3M | ||
| Q2 25 | $8.6M | $151.3M | ||
| Q1 25 | $3.3M | $179.6M | ||
| Q4 24 | $9.3M | $181.8M | ||
| Q3 24 | $9.8M | $364.9M | ||
| Q2 24 | $6.8M | $332.4M | ||
| Q1 24 | $32.2M | — |
| Q4 25 | $160.6M | — | ||
| Q3 25 | $170.0M | $528.1M | ||
| Q2 25 | $167.9M | $531.1M | ||
| Q1 25 | $182.7M | $529.8M | ||
| Q4 24 | $188.1M | $532.1M | ||
| Q3 24 | $215.7M | $533.1M | ||
| Q2 24 | $218.4M | $512.2M | ||
| Q1 24 | $222.8M | — |
| Q4 25 | $468.0M | $742.9M | ||
| Q3 25 | $433.8M | $726.6M | ||
| Q2 25 | $463.7M | $734.5M | ||
| Q1 25 | $452.4M | $746.6M | ||
| Q4 24 | $533.1M | $748.2M | ||
| Q3 24 | $488.6M | $671.3M | ||
| Q2 24 | $471.4M | $631.4M | ||
| Q1 24 | $491.2M | — |
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 | — |
| Free Cash FlowOCF − Capex | $-8.9M | — |
| FCF MarginFCF / Revenue | -7.8% | — |
| Capex IntensityCapex / Revenue | 2.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.7M | — | ||
| Q3 25 | $32.0M | $-2.0M | ||
| Q2 25 | $-56.5M | $12.2M | ||
| Q1 25 | $41.2M | $15.5M | ||
| Q4 24 | $-41.1M | $5.8M | ||
| Q3 24 | $16.6M | $29.5M | ||
| Q2 24 | $-33.7M | $8.0M | ||
| Q1 24 | $69.7M | — |
| Q4 25 | $-8.9M | — | ||
| Q3 25 | $29.8M | $-5.2M | ||
| Q2 25 | $-57.8M | $7.2M | ||
| Q1 25 | $38.7M | $12.7M | ||
| Q4 24 | $-43.7M | $4.0M | ||
| Q3 24 | $15.0M | $27.1M | ||
| Q2 24 | $-35.2M | $5.3M | ||
| Q1 24 | $60.6M | — |
| Q4 25 | -7.8% | — | ||
| Q3 25 | 22.6% | -2.4% | ||
| Q2 25 | -56.3% | 3.0% | ||
| Q1 25 | 16.0% | 5.1% | ||
| Q4 24 | -34.4% | 1.9% | ||
| Q3 24 | 10.6% | 13.6% | ||
| Q2 24 | -30.2% | 2.5% | ||
| Q1 24 | 24.7% | — |
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.7% | 1.5% | ||
| Q2 25 | 1.3% | 2.1% | ||
| Q1 25 | 1.0% | 1.1% | ||
| Q4 24 | 2.1% | 0.8% | ||
| Q3 24 | 1.2% | 1.2% | ||
| Q2 24 | 1.3% | 1.3% | ||
| Q1 24 | 3.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | 25.40× | — | ||
| Q2 25 | — | 1.27× | ||
| Q1 25 | — | 1.65× | ||
| Q4 24 | — | 1.29× | ||
| Q3 24 | — | 2.78× | ||
| Q2 24 | — | 0.77× | ||
| 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% |
USNA
Segment breakdown not available.
