vs
DULUTH HOLDINGS INC.（DLTH）与MARCUS CORP（MCS）财务数据对比。点击上方公司名可切换其他公司
MARCUS CORP的季度营收约是DULUTH HOLDINGS INC.的1.7倍（$193.5M vs $114.9M），MARCUS CORP同比增速更快（2.8% vs -9.6%），MARCUS CORP自由现金流更多（$26.4M vs $-8.9M），过去两年MARCUS CORP的营收复合增速更高（18.2% 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。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
DLTH vs MCS — 直观对比
营收规模更大
MCS
是对方的1.7倍
$114.9M
营收增速更快
MCS
高出12.3%
-9.6%
自由现金流更多
MCS
多$35.3M
$-8.9M
两年增速更快
MCS
近两年复合增速
-31.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $114.9M | $193.5M |
| 净利润 | $-10.1M | — |
| 毛利率 | 53.8% | — |
| 营业利润率 | -7.7% | 0.9% |
| 净利率 | -8.8% | — |
| 营收同比 | -9.6% | 2.8% |
| 净利润同比 | 64.6% | — |
| 每股收益（稀释后） | $-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DLTHMCS
| Q4 25 | $114.9M | $193.5M | ||
| Q3 25 | $131.7M | $210.2M | ||
| Q2 25 | $102.7M | $206.0M | ||
| Q1 25 | $241.3M | $148.8M | ||
| Q4 24 | $127.1M | $188.3M | ||
| Q3 24 | $141.6M | $232.7M | ||
| Q2 24 | $116.7M | $176.0M | ||
| Q1 24 | $245.6M | $138.5M |
净利润DLTHMCS
| Q4 25 | $-10.1M | — | ||
| Q3 25 | $1.3M | $16.2M | ||
| Q2 25 | $-15.3M | $7.3M | ||
| Q1 25 | $-5.6M | $-16.8M | ||
| Q4 24 | $-28.2M | $986.0K | ||
| Q3 24 | $-2.0M | $23.3M | ||
| Q2 24 | $-7.9M | $-20.2M | ||
| Q1 24 | $6.4M | $-11.9M |
毛利率DLTHMCS
| 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DLTHMCS
| Q4 25 | -7.7% | 0.9% | ||
| Q3 25 | 1.8% | 10.8% | ||
| Q2 25 | -12.0% | 6.3% | ||
| Q1 25 | -1.8% | -13.7% | ||
| Q4 24 | -17.4% | -1.2% | ||
| Q3 24 | -1.1% | 14.1% | ||
| Q2 24 | -7.7% | 1.3% | ||
| Q1 24 | 3.6% | -12.0% |
净利率DLTHMCS
| Q4 25 | -8.8% | — | ||
| Q3 25 | 1.0% | 7.7% | ||
| Q2 25 | -14.9% | 3.6% | ||
| Q1 25 | -2.3% | -11.3% | ||
| Q4 24 | -22.2% | 0.5% | ||
| Q3 24 | -1.4% | 10.0% | ||
| Q2 24 | -6.7% | -11.5% | ||
| Q1 24 | 2.6% | -8.6% |
每股收益（稀释后）DLTHMCS
| Q4 25 | $-0.29 | — | ||
| Q3 25 | $0.04 | — | ||
| Q2 25 | $-0.45 | — | ||
| Q1 25 | $-0.17 | — | ||
| Q4 24 | $-0.84 | — | ||
| Q3 24 | $-0.06 | — | ||
| Q2 24 | $-0.24 | — | ||
| Q1 24 | $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 | $8.2M | $23.4M |
| 总债务越低越好 | — | $159.0M |
| 股东权益账面价值 | $160.6M | $457.4M |
| 总资产 | $468.0M | $1.0B |
| 负债/权益比越低杠杆越低 | — | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资DLTHMCS
| Q4 25 | $8.2M | $23.4M | ||
| Q3 25 | $5.7M | $7.4M | ||
| Q2 25 | $8.6M | $14.9M | ||
| Q1 25 | $3.3M | $11.9M | ||
| Q4 24 | $9.3M | $40.8M | ||
| Q3 24 | $9.8M | $28.4M | ||
| Q2 24 | $6.8M | $32.8M | ||
| Q1 24 | $32.2M | $17.3M |
总债务DLTHMCS
| Q4 25 | — | $159.0M | ||
| Q3 25 | — | $162.0M | ||
| Q2 25 | — | $179.9M | ||
| Q1 25 | — | $198.9M | ||
| Q4 24 | — | $159.1M | ||
| Q3 24 | — | $173.1M | ||
| Q2 24 | — | $175.7M | ||
| Q1 24 | — | $169.8M |
股东权益DLTHMCS
| Q4 25 | $160.6M | $457.4M | ||
| Q3 25 | $170.0M | $454.3M | ||
| Q2 25 | $167.9M | $448.4M | ||
| Q1 25 | $182.7M | $441.8M | ||
| Q4 24 | $188.1M | $464.9M | ||
| Q3 24 | $215.7M | $462.3M | ||
| Q2 24 | $218.4M | $449.4M | ||
| Q1 24 | $222.8M | $459.3M |
总资产DLTHMCS
| Q4 25 | $468.0M | $1.0B | ||
| Q3 25 | $433.8M | $1.0B | ||
| Q2 25 | $463.7M | $1.0B | ||
| Q1 25 | $452.4M | $1.0B | ||
| Q4 24 | $533.1M | $1.0B | ||
| Q3 24 | $488.6M | $1.0B | ||
| Q2 24 | $471.4M | $1.1B | ||
| Q1 24 | $491.2M | $1.0B |
负债/权益比DLTHMCS
| Q4 25 | — | 0.35× | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.39× | ||
| Q1 24 | — | 0.37× |
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 | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $-8.9M | $26.4M |
| 自由现金流率自由现金流/营收 | -7.8% | 13.6% |
| 资本支出强度资本支出/营收 | 2.0% | 11.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $1.7M | $989.0K |
8季度趋势，按日历期对齐
经营现金流DLTHMCS
| Q4 25 | $-6.7M | $48.8M | ||
| Q3 25 | $32.0M | $39.1M | ||
| Q2 25 | $-56.5M | $31.6M | ||
| Q1 25 | $41.2M | $-35.3M | ||
| Q4 24 | $-41.1M | $52.6M | ||
| Q3 24 | $16.6M | $30.5M | ||
| Q2 24 | $-33.7M | $36.0M | ||
| Q1 24 | $69.7M | $-15.1M |
自由现金流DLTHMCS
| Q4 25 | $-8.9M | $26.4M | ||
| Q3 25 | $29.8M | $18.2M | ||
| Q2 25 | $-57.8M | $14.7M | ||
| Q1 25 | $38.7M | $-58.3M | ||
| Q4 24 | $-43.7M | $27.1M | ||
| Q3 24 | $15.0M | $12.0M | ||
| Q2 24 | $-35.2M | $16.1M | ||
| Q1 24 | $60.6M | $-30.5M |
自由现金流率DLTHMCS
| Q4 25 | -7.8% | 13.6% | ||
| Q3 25 | 22.6% | 8.7% | ||
| Q2 25 | -56.3% | 7.1% | ||
| Q1 25 | 16.0% | -39.2% | ||
| Q4 24 | -34.4% | 14.4% | ||
| Q3 24 | 10.6% | 5.2% | ||
| Q2 24 | -30.2% | 9.2% | ||
| Q1 24 | 24.7% | -22.0% |
资本支出强度DLTHMCS
| Q4 25 | 2.0% | 11.6% | ||
| Q3 25 | 1.7% | 9.9% | ||
| Q2 25 | 1.3% | 8.2% | ||
| Q1 25 | 1.0% | 15.5% | ||
| Q4 24 | 2.1% | 13.5% | ||
| Q3 24 | 1.2% | 7.9% | ||
| Q2 24 | 1.3% | 11.3% | ||
| Q1 24 | 3.7% | 11.1% |
现金转化率DLTHMCS
| Q4 25 | — | — | ||
| Q3 25 | 25.40× | 2.41× | ||
| Q2 25 | — | 4.32× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 53.31× | ||
| Q3 24 | — | 1.31× | ||
| 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% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
