vs
DULUTH HOLDINGS INC.（DLTH）与百胜餐饮集团（LCUT）财务数据对比。点击上方公司名可切换其他公司
百胜餐饮集团的季度营收约是DULUTH HOLDINGS INC.的1.8倍（$204.1M vs $114.9M），百胜餐饮集团净利率更高（8.9% vs -8.8%，领先17.7%），百胜餐饮集团同比增速更快（-5.2% vs -9.6%），百胜餐饮集团自由现金流更多（$2.6M vs $-8.9M），过去两年百胜餐饮集团的营收复合增速更高（19.8% vs -31.6%）
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。
百胜餐饮集团是美国跨国快餐企业，1977年百事可乐收购肯德基、必胜客、塔可Bell后将其整合为旗下子公司，1997年百事剥离该业务板块后正式独立为百胜集团。集团目前运营肯德基、必胜客、塔可Bell、哈比特汉堡等多个餐饮品牌，同时布局相关餐饮科技业务，门店网络遍布全球多个国家和地区。
DLTH vs LCUT — 直观对比
营收规模更大
LCUT
是对方的1.8倍
$114.9M
营收增速更快
LCUT
高出4.4%
-9.6%
净利率更高
LCUT
高出17.7%
-8.8%
自由现金流更多
LCUT
多$11.5M
$-8.9M
两年增速更快
LCUT
近两年复合增速
-31.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $114.9M | $204.1M |
| 净利润 | $-10.1M | $18.2M |
| 毛利率 | 53.8% | 38.6% |
| 营业利润率 | -7.7% | 9.8% |
| 净利率 | -8.8% | 8.9% |
| 营收同比 | -9.6% | -5.2% |
| 净利润同比 | 64.6% | 103.5% |
| 每股收益（稀释后） | $-0.29 | $0.83 |
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DLTHLCUT
| Q4 25 | $114.9M | $204.1M | ||
| Q3 25 | $131.7M | $171.9M | ||
| Q2 25 | $102.7M | $131.9M | ||
| Q1 25 | $241.3M | $140.1M | ||
| Q4 24 | $127.1M | $215.2M | ||
| Q3 24 | $141.6M | $183.8M | ||
| Q2 24 | $116.7M | $141.7M | ||
| Q1 24 | $245.6M | $142.2M |
净利润DLTHLCUT
| Q4 25 | $-10.1M | $18.2M | ||
| Q3 25 | $1.3M | $-1.2M | ||
| Q2 25 | $-15.3M | $-39.7M | ||
| Q1 25 | $-5.6M | $-4.2M | ||
| Q4 24 | $-28.2M | $8.9M | ||
| Q3 24 | $-2.0M | $344.0K | ||
| Q2 24 | $-7.9M | $-18.2M | ||
| Q1 24 | $6.4M | $-6.3M |
毛利率DLTHLCUT
| Q4 25 | 53.8% | 38.6% | ||
| Q3 25 | 54.7% | 35.1% | ||
| Q2 25 | 52.0% | 38.6% | ||
| Q1 25 | 44.1% | 36.1% | ||
| Q4 24 | 52.3% | 37.7% | ||
| Q3 24 | 52.3% | 36.7% | ||
| Q2 24 | 52.8% | 38.5% | ||
| Q1 24 | 48.2% | 40.5% |
营业利润率DLTHLCUT
| Q4 25 | -7.7% | 9.8% | ||
| Q3 25 | 1.8% | 3.9% | ||
| Q2 25 | -12.0% | -28.2% | ||
| Q1 25 | -1.8% | 0.8% | ||
| Q4 24 | -17.4% | 7.2% | ||
| Q3 24 | -1.1% | 4.7% | ||
| Q2 24 | -7.7% | 0.8% | ||
| Q1 24 | 3.6% | 1.3% |
净利率DLTHLCUT
| Q4 25 | -8.8% | 8.9% | ||
| Q3 25 | 1.0% | -0.7% | ||
| Q2 25 | -14.9% | -30.1% | ||
| Q1 25 | -2.3% | -3.0% | ||
| Q4 24 | -22.2% | 4.1% | ||
| Q3 24 | -1.4% | 0.2% | ||
| Q2 24 | -6.7% | -12.8% | ||
| Q1 24 | 2.6% | -4.4% |
每股收益（稀释后）DLTHLCUT
| Q4 25 | $-0.29 | $0.83 | ||
| Q3 25 | $0.04 | $-0.05 | ||
| Q2 25 | $-0.45 | $-1.83 | ||
| Q1 25 | $-0.17 | $-0.19 | ||
| Q4 24 | $-0.84 | $0.41 | ||
| Q3 24 | $-0.06 | $0.02 | ||
| Q2 24 | $-0.24 | $-0.85 | ||
| Q1 24 | $0.20 | $-0.29 |
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 | $8.2M | $4.3M |
| 总债务越低越好 | — | $135.0M |
| 股东权益账面价值 | $160.6M | $202.3M |
| 总资产 | $468.0M | $572.6M |
| 负债/权益比越低杠杆越低 | — | 0.67× |
8季度趋势，按日历期对齐
现金及短期投资DLTHLCUT
| Q4 25 | $8.2M | $4.3M | ||
| Q3 25 | $5.7M | $12.1M | ||
| Q2 25 | $8.6M | $12.0M | ||
| Q1 25 | $3.3M | $10.4M | ||
| Q4 24 | $9.3M | $2.9M | ||
| Q3 24 | $9.8M | $6.0M | ||
| Q2 24 | $6.8M | $3.4M | ||
| Q1 24 | $32.2M | $4.6M |
总债务DLTHLCUT
| Q4 25 | — | $135.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $142.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DLTHLCUT
| Q4 25 | $160.6M | $202.3M | ||
| Q3 25 | $170.0M | $184.6M | ||
| Q2 25 | $167.9M | $185.8M | ||
| Q1 25 | $182.7M | $225.7M | ||
| Q4 24 | $188.1M | $229.9M | ||
| Q3 24 | $215.7M | $220.9M | ||
| Q2 24 | $218.4M | $219.8M | ||
| Q1 24 | $222.8M | $223.7M |
总资产DLTHLCUT
| Q4 25 | $468.0M | $572.6M | ||
| Q3 25 | $433.8M | $581.1M | ||
| Q2 25 | $463.7M | $551.9M | ||
| Q1 25 | $452.4M | $594.6M | ||
| Q4 24 | $533.1M | $634.3M | ||
| Q3 24 | $488.6M | $668.7M | ||
| Q2 24 | $471.4M | $617.0M | ||
| Q1 24 | $491.2M | $602.7M |
负债/权益比DLTHLCUT
| Q4 25 | — | 0.67× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.62× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-6.7M | $3.7M |
| 自由现金流经营现金流 - 资本支出 | $-8.9M | $2.6M |
| 自由现金流率自由现金流/营收 | -7.8% | 1.3% |
| 资本支出强度资本支出/营收 | 2.0% | 0.6% |
| 现金转化率经营现金流/净利润 | — | 0.21× |
| 过去12个月自由现金流最近4个季度 | $1.7M | $3.3M |
8季度趋势，按日历期对齐
经营现金流DLTHLCUT
| Q4 25 | $-6.7M | $3.7M | ||
| Q3 25 | $32.0M | $-22.2M | ||
| Q2 25 | $-56.5M | $9.3M | ||
| Q1 25 | $41.2M | $16.7M | ||
| Q4 24 | $-41.1M | $20.3M | ||
| Q3 24 | $16.6M | $-22.7M | ||
| Q2 24 | $-33.7M | $10.4M | ||
| Q1 24 | $69.7M | $10.5M |
自由现金流DLTHLCUT
| Q4 25 | $-8.9M | $2.6M | ||
| Q3 25 | $29.8M | $-22.7M | ||
| Q2 25 | $-57.8M | $8.2M | ||
| Q1 25 | $38.7M | $15.1M | ||
| Q4 24 | $-43.7M | $19.7M | ||
| Q3 24 | $15.0M | $-23.2M | ||
| Q2 24 | $-35.2M | $9.9M | ||
| Q1 24 | $60.6M | $9.9M |
自由现金流率DLTHLCUT
| Q4 25 | -7.8% | 1.3% | ||
| Q3 25 | 22.6% | -13.2% | ||
| Q2 25 | -56.3% | 6.2% | ||
| Q1 25 | 16.0% | 10.8% | ||
| Q4 24 | -34.4% | 9.1% | ||
| Q3 24 | 10.6% | -12.6% | ||
| Q2 24 | -30.2% | 7.0% | ||
| Q1 24 | 24.7% | 7.0% |
资本支出强度DLTHLCUT
| Q4 25 | 2.0% | 0.6% | ||
| Q3 25 | 1.7% | 0.3% | ||
| Q2 25 | 1.3% | 0.9% | ||
| Q1 25 | 1.0% | 1.1% | ||
| Q4 24 | 2.1% | 0.3% | ||
| Q3 24 | 1.2% | 0.3% | ||
| Q2 24 | 1.3% | 0.4% | ||
| Q1 24 | 3.7% | 0.4% |
现金转化率DLTHLCUT
| Q4 25 | — | 0.21× | ||
| Q3 25 | 25.40× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.28× | ||
| Q3 24 | — | -65.89× | ||
| Q2 24 | — | — | ||
| Q1 24 | 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
DLTH
| Sales Channel Directly To Consumer | $67.4M | 59% |
| Sales Channel Through Intermediary | $47.4M | 41% |
LCUT
| Kitchenware | $114.3M | 56% |
| Tableware | $41.7M | 20% |
| Home Solutions | $29.4M | 14% |
| Other | $18.8M | 9% |
