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DULUTH HOLDINGS INC.（DLTH）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
DULUTH HOLDINGS INC.的季度营收约是Repay Holdings Corp的1.5倍（$114.9M vs $78.6M），DULUTH HOLDINGS INC.净利率更高（-8.8% vs -178.3%，领先169.5%），Repay Holdings Corp同比增速更快（0.4% vs -9.6%），Repay Holdings Corp自由现金流更多（$23.2M vs $-8.9M），过去两年Repay Holdings Corp的营收复合增速更高（-1.3% 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。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
DLTH vs RPAY — 直观对比
营收规模更大
DLTH
是对方的1.5倍
$78.6M
营收增速更快
RPAY
高出10.0%
-9.6%
净利率更高
DLTH
高出169.5%
-178.3%
自由现金流更多
RPAY
多$32.2M
$-8.9M
两年增速更快
RPAY
近两年复合增速
-31.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $114.9M | $78.6M |
| 净利润 | $-10.1M | $-140.1M |
| 毛利率 | 53.8% | 74.2% |
| 营业利润率 | -7.7% | -182.2% |
| 净利率 | -8.8% | -178.3% |
| 营收同比 | -9.6% | 0.4% |
| 净利润同比 | 64.6% | -3304.1% |
| 每股收益（稀释后） | $-0.29 | $-1.68 |
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DLTHRPAY
| Q4 25 | $114.9M | $78.6M | ||
| Q3 25 | $131.7M | $77.7M | ||
| Q2 25 | $102.7M | $75.6M | ||
| Q1 25 | $241.3M | $77.3M | ||
| Q4 24 | $127.1M | $78.3M | ||
| Q3 24 | $141.6M | $79.1M | ||
| Q2 24 | $116.7M | $74.9M | ||
| Q1 24 | $245.6M | $80.7M |
净利润DLTHRPAY
| Q4 25 | $-10.1M | $-140.1M | ||
| Q3 25 | $1.3M | $-6.4M | ||
| Q2 25 | $-15.3M | $-102.3M | ||
| Q1 25 | $-5.6M | $-7.9M | ||
| Q4 24 | $-28.2M | $-4.1M | ||
| Q3 24 | $-2.0M | $3.2M | ||
| Q2 24 | $-7.9M | $-4.1M | ||
| Q1 24 | $6.4M | $-5.2M |
毛利率DLTHRPAY
| Q4 25 | 53.8% | 74.2% | ||
| Q3 25 | 54.7% | 74.4% | ||
| Q2 25 | 52.0% | 75.7% | ||
| Q1 25 | 44.1% | 75.9% | ||
| Q4 24 | 52.3% | 76.3% | ||
| Q3 24 | 52.3% | 77.8% | ||
| Q2 24 | 52.8% | 78.2% | ||
| Q1 24 | 48.2% | 76.2% |
营业利润率DLTHRPAY
| Q4 25 | -7.7% | -182.2% | ||
| Q3 25 | 1.8% | -3.9% | ||
| Q2 25 | -12.0% | -138.7% | ||
| Q1 25 | -1.8% | -4.7% | ||
| Q4 24 | -17.4% | -1.5% | ||
| Q3 24 | -1.1% | -0.9% | ||
| Q2 24 | -7.7% | -4.6% | ||
| Q1 24 | 3.6% | -3.1% |
净利率DLTHRPAY
| Q4 25 | -8.8% | -178.3% | ||
| Q3 25 | 1.0% | -8.3% | ||
| Q2 25 | -14.9% | -135.2% | ||
| Q1 25 | -2.3% | -10.3% | ||
| Q4 24 | -22.2% | -5.3% | ||
| Q3 24 | -1.4% | 4.1% | ||
| Q2 24 | -6.7% | -5.4% | ||
| Q1 24 | 2.6% | -6.5% |
每股收益（稀释后）DLTHRPAY
| Q4 25 | $-0.29 | $-1.68 | ||
| Q3 25 | $0.04 | $-0.08 | ||
| Q2 25 | $-0.45 | $-1.15 | ||
| Q1 25 | $-0.17 | $-0.09 | ||
| Q4 24 | $-0.84 | $-0.04 | ||
| Q3 24 | $-0.06 | $0.03 | ||
| Q2 24 | $-0.24 | $-0.04 | ||
| Q1 24 | $0.20 | $-0.06 |
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 | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $160.6M | $484.4M |
| 总资产 | $468.0M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资DLTHRPAY
| Q4 25 | $8.2M | $115.7M | ||
| Q3 25 | $5.7M | $95.7M | ||
| Q2 25 | $8.6M | $162.6M | ||
| Q1 25 | $3.3M | $165.5M | ||
| Q4 24 | $9.3M | $189.5M | ||
| Q3 24 | $9.8M | $168.7M | ||
| Q2 24 | $6.8M | $147.1M | ||
| Q1 24 | $32.2M | $128.3M |
总债务DLTHRPAY
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益DLTHRPAY
| Q4 25 | $160.6M | $484.4M | ||
| Q3 25 | $170.0M | $616.9M | ||
| Q2 25 | $167.9M | $633.7M | ||
| Q1 25 | $182.7M | $755.7M | ||
| Q4 24 | $188.1M | $761.3M | ||
| Q3 24 | $215.7M | $754.7M | ||
| Q2 24 | $218.4M | $815.4M | ||
| Q1 24 | $222.8M | $813.8M |
总资产DLTHRPAY
| Q4 25 | $468.0M | $1.2B | ||
| Q3 25 | $433.8M | $1.3B | ||
| Q2 25 | $463.7M | $1.4B | ||
| Q1 25 | $452.4M | $1.5B | ||
| Q4 24 | $533.1M | $1.6B | ||
| Q3 24 | $488.6M | $1.6B | ||
| Q2 24 | $471.4M | $1.5B | ||
| Q1 24 | $491.2M | $1.5B |
负债/权益比DLTHRPAY
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-8.9M | $23.2M |
| 自由现金流率自由现金流/营收 | -7.8% | 29.6% |
| 资本支出强度资本支出/营收 | 2.0% | 0.1% |
| 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 | $90.7M |
8季度趋势，按日历期对齐
经营现金流DLTHRPAY
| Q4 25 | $-6.7M | $23.3M | ||
| Q3 25 | $32.0M | $32.2M | ||
| Q2 25 | $-56.5M | $33.1M | ||
| Q1 25 | $41.2M | $2.5M | ||
| Q4 24 | $-41.1M | $34.3M | ||
| Q3 24 | $16.6M | $60.1M | ||
| Q2 24 | $-33.7M | $31.0M | ||
| Q1 24 | $69.7M | $24.8M |
自由现金流DLTHRPAY
| Q4 25 | $-8.9M | $23.2M | ||
| Q3 25 | $29.8M | $32.1M | ||
| Q2 25 | $-57.8M | $33.0M | ||
| Q1 25 | $38.7M | $2.4M | ||
| Q4 24 | $-43.7M | $34.0M | ||
| Q3 24 | $15.0M | $59.8M | ||
| Q2 24 | $-35.2M | $30.5M | ||
| Q1 24 | $60.6M | $24.7M |
自由现金流率DLTHRPAY
| Q4 25 | -7.8% | 29.6% | ||
| Q3 25 | 22.6% | 41.3% | ||
| Q2 25 | -56.3% | 43.6% | ||
| Q1 25 | 16.0% | 3.0% | ||
| Q4 24 | -34.4% | 43.5% | ||
| Q3 24 | 10.6% | 75.6% | ||
| Q2 24 | -30.2% | 40.7% | ||
| Q1 24 | 24.7% | 30.6% |
资本支出强度DLTHRPAY
| Q4 25 | 2.0% | 0.1% | ||
| Q3 25 | 1.7% | 0.2% | ||
| Q2 25 | 1.3% | 0.1% | ||
| Q1 25 | 1.0% | 0.2% | ||
| Q4 24 | 2.1% | 0.3% | ||
| Q3 24 | 1.2% | 0.3% | ||
| Q2 24 | 1.3% | 0.6% | ||
| Q1 24 | 3.7% | 0.1% |
现金转化率DLTHRPAY
| Q4 25 | — | — | ||
| Q3 25 | 25.40× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| 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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
