vs
PATHWARD FINANCIAL, INC.（CASH）与DULUTH HOLDINGS INC.（DLTH）财务数据对比。点击上方公司名可切换其他公司
PATHWARD FINANCIAL, INC.的季度营收约是DULUTH HOLDINGS INC.的1.5倍（$173.1M vs $114.9M），PATHWARD FINANCIAL, INC.净利率更高（20.3% vs -8.8%，领先29.1%），PATHWARD FINANCIAL, INC.同比增速更快（-0.2% vs -9.6%），PATHWARD FINANCIAL, INC.自由现金流更多（$104.1M vs $-8.9M），过去两年PATHWARD FINANCIAL, INC.的营收复合增速更高（-18.0% vs -31.6%）
Pathward Financial, Inc.是一家总部位于美国的银行及金融服务企业，其前身为Meta金融集团旗下相关业务主体，2022年母公司将“Meta”商标出售给Meta Platforms后，正式启用现有名称。
德卢思控股是一家美国工装及配饰企业，主打通过旗下德卢思贸易品牌开展产品销售业务，面向市场推出各类实用工装及相关配饰产品，是美国本土颇具特色的服饰零售企业。
CASH vs DLTH — 直观对比
营收规模更大
CASH
是对方的1.5倍
$114.9M
营收增速更快
CASH
高出9.4%
-9.6%
净利率更高
CASH
高出29.1%
-8.8%
自由现金流更多
CASH
多$113.0M
$-8.9M
两年增速更快
CASH
近两年复合增速
-31.6%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $173.1M | $114.9M |
| 净利润 | $35.2M | $-10.1M |
| 毛利率 | — | 53.8% |
| 营业利润率 | 24.6% | -7.7% |
| 净利率 | 20.3% | -8.8% |
| 营收同比 | -0.2% | -9.6% |
| 净利润同比 | 11.9% | 64.6% |
| 每股收益（稀释后） | $1.57 | $-0.29 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CASHDLTH
| Q4 25 | $173.1M | $114.9M | ||
| Q3 25 | $186.7M | $131.7M | ||
| Q2 25 | $195.8M | $102.7M | ||
| Q1 25 | $274.8M | $241.3M | ||
| Q4 24 | $182.6M | $127.1M | ||
| Q3 24 | $179.5M | $141.6M | ||
| Q2 24 | $188.6M | $116.7M | ||
| Q1 24 | $257.6M | $245.6M |
净利润CASHDLTH
| Q4 25 | $35.2M | $-10.1M | ||
| Q3 25 | $38.8M | $1.3M | ||
| Q2 25 | $42.1M | $-15.3M | ||
| Q1 25 | $75.0M | $-5.6M | ||
| Q4 24 | $30.0M | $-28.2M | ||
| Q3 24 | $33.5M | $-2.0M | ||
| Q2 24 | $44.9M | $-7.9M | ||
| Q1 24 | $69.9M | $6.4M |
毛利率CASHDLTH
| 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% |
营业利润率CASHDLTH
| Q4 25 | 24.6% | -7.7% | ||
| Q3 25 | 25.9% | 1.8% | ||
| Q2 25 | 24.1% | -12.0% | ||
| Q1 25 | 33.2% | -1.8% | ||
| Q4 24 | 19.8% | -17.4% | ||
| Q3 24 | 20.9% | -1.1% | ||
| Q2 24 | 27.1% | -7.7% | ||
| Q1 24 | 33.8% | 3.6% |
净利率CASHDLTH
| Q4 25 | 20.3% | -8.8% | ||
| Q3 25 | 20.8% | 1.0% | ||
| Q2 25 | 21.5% | -14.9% | ||
| Q1 25 | 27.3% | -2.3% | ||
| Q4 24 | 16.4% | -22.2% | ||
| Q3 24 | 18.7% | -1.4% | ||
| Q2 24 | 23.8% | -6.7% | ||
| Q1 24 | 27.1% | 2.6% |
每股收益（稀释后）CASHDLTH
| Q4 25 | $1.57 | $-0.29 | ||
| Q3 25 | $1.69 | $0.04 | ||
| Q2 25 | $1.81 | $-0.45 | ||
| Q1 25 | $3.14 | $-0.17 | ||
| Q4 24 | $1.23 | $-0.84 | ||
| Q3 24 | $1.34 | $-0.06 | ||
| Q2 24 | $1.78 | $-0.24 | ||
| Q1 24 | $2.74 | $0.20 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $331.2M | $8.2M |
| 总债务越低越好 | $33.5M | — |
| 股东权益账面价值 | $854.5M | $160.6M |
| 总资产 | $7.6B | $468.0M |
| 负债/权益比越低杠杆越低 | 0.04× | — |
8季度趋势，按日历期对齐
现金及短期投资CASHDLTH
| Q4 25 | $331.2M | $8.2M | ||
| Q3 25 | $120.6M | $5.7M | ||
| Q2 25 | $258.3M | $8.6M | ||
| Q1 25 | $254.2M | $3.3M | ||
| Q4 24 | $597.4M | $9.3M | ||
| Q3 24 | $158.3M | $9.8M | ||
| Q2 24 | $298.9M | $6.8M | ||
| Q1 24 | $347.9M | $32.2M |
总债务CASHDLTH
| Q4 25 | $33.5M | — | ||
| Q3 25 | $33.5M | — | ||
| Q2 25 | $33.4M | — | ||
| Q1 25 | $33.4M | — | ||
| Q4 24 | $33.4M | — | ||
| Q3 24 | $33.4M | — | ||
| Q2 24 | $33.3M | — | ||
| Q1 24 | $33.4M | — |
股东权益CASHDLTH
| Q4 25 | $854.5M | $160.6M | ||
| Q3 25 | $858.0M | $170.0M | ||
| Q2 25 | $819.0M | $167.9M | ||
| Q1 25 | $814.7M | $182.7M | ||
| Q4 24 | $758.3M | $188.1M | ||
| Q3 24 | $822.5M | $215.7M | ||
| Q2 24 | $748.4M | $218.4M | ||
| Q1 24 | $719.5M | $222.8M |
总资产CASHDLTH
| Q4 25 | $7.6B | $468.0M | ||
| Q3 25 | $7.2B | $433.8M | ||
| Q2 25 | $7.2B | $463.7M | ||
| Q1 25 | $7.0B | $452.4M | ||
| Q4 24 | $7.6B | $533.1M | ||
| Q3 24 | $7.5B | $488.6M | ||
| Q2 24 | $7.5B | $471.4M | ||
| Q1 24 | $7.4B | $491.2M |
负债/权益比CASHDLTH
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.04× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.04× | — | ||
| Q1 24 | 0.05× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $108.3M | $-6.7M |
| 自由现金流经营现金流 - 资本支出 | $104.1M | $-8.9M |
| 自由现金流率自由现金流/营收 | 60.1% | -7.8% |
| 资本支出强度资本支出/营收 | 2.4% | 2.0% |
| 现金转化率经营现金流/净利润 | 3.08× | — |
| 过去12个月自由现金流最近4个季度 | $616.8M | $1.7M |
8季度趋势，按日历期对齐
经营现金流CASHDLTH
| Q4 25 | $108.3M | $-6.7M | ||
| Q3 25 | $303.7M | $32.0M | ||
| Q2 25 | $30.4M | $-56.5M | ||
| Q1 25 | $188.3M | $41.2M | ||
| Q4 24 | $-71.7M | $-41.1M | ||
| Q3 24 | $143.1M | $16.6M | ||
| Q2 24 | $113.2M | $-33.7M | ||
| Q1 24 | $203.0M | $69.7M |
自由现金流CASHDLTH
| Q4 25 | $104.1M | $-8.9M | ||
| Q3 25 | $300.3M | $29.8M | ||
| Q2 25 | $27.7M | $-57.8M | ||
| Q1 25 | $184.7M | $38.7M | ||
| Q4 24 | $-73.8M | $-43.7M | ||
| Q3 24 | $138.8M | $15.0M | ||
| Q2 24 | $111.0M | $-35.2M | ||
| Q1 24 | $201.3M | $60.6M |
自由现金流率CASHDLTH
| Q4 25 | 60.1% | -7.8% | ||
| Q3 25 | 160.9% | 22.6% | ||
| Q2 25 | 14.1% | -56.3% | ||
| Q1 25 | 67.2% | 16.0% | ||
| Q4 24 | -40.4% | -34.4% | ||
| Q3 24 | 77.3% | 10.6% | ||
| Q2 24 | 58.8% | -30.2% | ||
| Q1 24 | 78.1% | 24.7% |
资本支出强度CASHDLTH
| Q4 25 | 2.4% | 2.0% | ||
| Q3 25 | 1.8% | 1.7% | ||
| Q2 25 | 1.4% | 1.3% | ||
| Q1 25 | 1.3% | 1.0% | ||
| Q4 24 | 1.1% | 2.1% | ||
| Q3 24 | 2.4% | 1.2% | ||
| Q2 24 | 1.2% | 1.3% | ||
| Q1 24 | 0.7% | 3.7% |
现金转化率CASHDLTH
| Q4 25 | 3.08× | — | ||
| Q3 25 | 7.83× | 25.40× | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 2.51× | — | ||
| Q4 24 | -2.39× | — | ||
| Q3 24 | 4.27× | — | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 2.90× | 10.86× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CASH
| Consumer | $103.0M | 59% |
| Payment Card And Deposit Fees | $30.1M | 17% |
| Other | $24.2M | 14% |
| Rental Income | $11.6M | 7% |
| Commercial | $4.2M | 2% |
DLTH
| Sales Channel Directly To Consumer | $67.4M | 59% |
| Sales Channel Through Intermediary | $47.4M | 41% |
