vs
DULUTH HOLDINGS INC.（DLTH）与合众银行（WASH）财务数据对比。点击上方公司名可切换其他公司
DULUTH HOLDINGS INC.的季度营收约是合众银行的2.0倍（$114.9M vs $57.8M），合众银行净利率更高（21.8% vs -8.8%，领先30.6%），过去两年合众银行的营收复合增速更高（9.5% 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。
美国合众银行是一家美国跨国金融机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年，该银行为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为具有系统重要性的金融机构。它主营银行、投资、抵押贷款等多元金融业务。
DLTH vs WASH — 直观对比
营收规模更大
DLTH
是对方的2.0倍
$57.8M
净利率更高
WASH
高出30.6%
-8.8%
两年增速更快
WASH
近两年复合增速
-31.6%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $114.9M | $57.8M |
| 净利润 | $-10.1M | $12.6M |
| 毛利率 | 53.8% | — |
| 营业利润率 | -7.7% | — |
| 净利率 | -8.8% | 21.8% |
| 营收同比 | -9.6% | — |
| 净利润同比 | 64.6% | 3.5% |
| 每股收益（稀释后） | $-0.29 | $0.66 |
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DLTHWASH
| Q1 26 | — | $57.8M | ||
| Q4 25 | $114.9M | $59.3M | ||
| Q3 25 | $131.7M | $56.5M | ||
| Q2 25 | $102.7M | $54.3M | ||
| Q1 25 | $241.3M | $59.1M | ||
| Q4 24 | $127.1M | $12.4M | ||
| Q3 24 | $141.6M | $48.5M | ||
| Q2 24 | $116.7M | $48.2M |
净利润DLTHWASH
| Q1 26 | — | $12.6M | ||
| Q4 25 | $-10.1M | $16.0M | ||
| Q3 25 | $1.3M | $10.8M | ||
| Q2 25 | $-15.3M | $13.2M | ||
| Q1 25 | $-5.6M | $12.2M | ||
| Q4 24 | $-28.2M | $-60.8M | ||
| Q3 24 | $-2.0M | $11.0M | ||
| Q2 24 | $-7.9M | $10.8M |
毛利率DLTHWASH
| Q1 26 | — | — | ||
| 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% | — |
营业利润率DLTHWASH
| Q1 26 | — | — | ||
| Q4 25 | -7.7% | 34.9% | ||
| Q3 25 | 1.8% | 24.7% | ||
| Q2 25 | -12.0% | 31.6% | ||
| Q1 25 | -1.8% | 26.5% | ||
| Q4 24 | -17.4% | -648.7% | ||
| Q3 24 | -1.1% | 28.5% | ||
| Q2 24 | -7.7% | 28.7% |
净利率DLTHWASH
| Q1 26 | — | 21.8% | ||
| Q4 25 | -8.8% | 27.0% | ||
| Q3 25 | 1.0% | 19.2% | ||
| Q2 25 | -14.9% | 24.4% | ||
| Q1 25 | -2.3% | 20.6% | ||
| Q4 24 | -22.2% | -491.4% | ||
| Q3 24 | -1.4% | 22.6% | ||
| Q2 24 | -6.7% | 22.4% |
每股收益（稀释后）DLTHWASH
| Q1 26 | — | $0.66 | ||
| Q4 25 | $-0.29 | $0.84 | ||
| Q3 25 | $0.04 | $0.56 | ||
| Q2 25 | $-0.45 | $0.68 | ||
| Q1 25 | $-0.17 | $0.63 | ||
| Q4 24 | $-0.84 | $-3.54 | ||
| Q3 24 | $-0.06 | $0.64 | ||
| Q2 24 | $-0.24 | $0.63 |
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 | $12.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $160.6M | $546.8M |
| 总资产 | $468.0M | $6.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DLTHWASH
| Q1 26 | — | $12.3M | ||
| Q4 25 | $8.2M | — | ||
| Q3 25 | $5.7M | — | ||
| Q2 25 | $8.6M | — | ||
| Q1 25 | $3.3M | — | ||
| Q4 24 | $9.3M | — | ||
| Q3 24 | $9.8M | — | ||
| Q2 24 | $6.8M | — |
股东权益DLTHWASH
| Q1 26 | — | $546.8M | ||
| Q4 25 | $160.6M | $543.6M | ||
| Q3 25 | $170.0M | $533.0M | ||
| Q2 25 | $167.9M | $527.5M | ||
| Q1 25 | $182.7M | $521.7M | ||
| Q4 24 | $188.1M | $499.7M | ||
| Q3 24 | $215.7M | $502.2M | ||
| Q2 24 | $218.4M | $471.0M |
总资产DLTHWASH
| Q1 26 | — | $6.5B | ||
| Q4 25 | $468.0M | $6.6B | ||
| Q3 25 | $433.8M | $6.7B | ||
| Q2 25 | $463.7M | $6.7B | ||
| Q1 25 | $452.4M | $6.6B | ||
| Q4 24 | $533.1M | $6.9B | ||
| Q3 24 | $488.6M | $7.1B | ||
| Q2 24 | $471.4M | $7.2B |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-8.9M | — |
| 自由现金流率自由现金流/营收 | -7.8% | — |
| 资本支出强度资本支出/营收 | 2.0% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流DLTHWASH
| Q1 26 | — | — | ||
| Q4 25 | $-6.7M | $80.3M | ||
| Q3 25 | $32.0M | $39.6M | ||
| Q2 25 | $-56.5M | $11.3M | ||
| Q1 25 | $41.2M | $8.4M | ||
| Q4 24 | $-41.1M | $57.7M | ||
| Q3 24 | $16.6M | $25.7M | ||
| Q2 24 | $-33.7M | $11.2M |
自由现金流DLTHWASH
| Q1 26 | — | — | ||
| Q4 25 | $-8.9M | $78.3M | ||
| Q3 25 | $29.8M | $39.3M | ||
| Q2 25 | $-57.8M | $10.9M | ||
| Q1 25 | $38.7M | $8.4M | ||
| Q4 24 | $-43.7M | $53.7M | ||
| Q3 24 | $15.0M | $24.4M | ||
| Q2 24 | $-35.2M | $9.6M |
自由现金流率DLTHWASH
| Q1 26 | — | — | ||
| Q4 25 | -7.8% | 132.2% | ||
| Q3 25 | 22.6% | 69.6% | ||
| Q2 25 | -56.3% | 20.2% | ||
| Q1 25 | 16.0% | 14.2% | ||
| Q4 24 | -34.4% | 433.8% | ||
| Q3 24 | 10.6% | 50.4% | ||
| Q2 24 | -30.2% | 19.8% |
资本支出强度DLTHWASH
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 3.4% | ||
| Q3 25 | 1.7% | 0.6% | ||
| Q2 25 | 1.3% | 0.7% | ||
| Q1 25 | 1.0% | 0.1% | ||
| Q4 24 | 2.1% | 32.3% | ||
| Q3 24 | 1.2% | 2.6% | ||
| Q2 24 | 1.3% | 3.4% |
现金转化率DLTHWASH
| Q1 26 | — | — | ||
| Q4 25 | — | 5.03× | ||
| Q3 25 | 25.40× | 3.65× | ||
| Q2 25 | — | 0.86× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.34× | ||
| Q2 24 | — | 1.03× |
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% |
WASH
| Net Interest Income | $40.5M | 70% |
| Noninterest Income | $17.3M | 30% |
