Duluth Holdings Inc - Understand $dlth stock

$DLTH Market Cap: $137.7 Million

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Financial Snapshot

Revenue

$642.1M

TTM

Gross Margin

50.88%

TTM

Net Earnings

-$15.10M

TTM

Current Assets

$206.9M

Q3 2024

Current Liabilities

$127.0M

Q3 2024

Current Ratio

162.84%

Q3 2024

Total Assets

$488.6M

Q3 2024

Total Liabilities

$275.9M

Q3 2024

Book Value

$212.7M

Q3 2024

Cash

$9.787M

Q3 2024

P/E

-9.118

Sep 13, 2024 EST

Free Cash Flow

$2.082M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	$646.7M	$653.3M	$698.6M	$638.8M	$615.6M	$568.1M	$471.4M	$376.1M	$304.2M	$231.9M	$163.1M
YoY Change	-1.01%	-6.48%	9.36%	3.76%	8.37%	20.5%	25.35%	23.64%	31.18%	42.18%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	$646.7M	$653.3M	$698.6M	$638.8M	$615.6M	$568.1M	$471.4M	$376.1M	$304.2M	$231.9M	$163.1M
Cost Of Revenue	$321.7M	$309.9M	$321.3M	$307.3M	$287.5M	$257.7M	$210.4M	$162.0M	$130.6M	$100.9M	$71.10M
Gross Profit	$325.0M	$343.4M	$377.3M	$331.5M	$328.1M	$310.4M	$261.0M	$214.1M	$173.5M	$131.0M	$92.00M
Gross Profit Margin	50.25%	52.57%	54.01%	51.9%	53.3%	54.64%	55.37%	56.94%	57.03%	56.49%	56.41%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Selling, General & Admin	$333.8M	$337.2M	$333.2M	$307.3M	$300.0M	$273.2M	$223.9M	$179.1M	$144.4M	$107.0M	$75.80M
YoY Change	-1.01%	1.19%	8.43%	2.42%	9.82%	22.0%	25.01%	24.06%	34.95%	41.16%
% of Gross Profit	102.72%	98.19%	88.31%	92.7%	91.43%	88.02%	85.8%	83.66%	83.23%	81.68%	82.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$32.16M	$26.70M	$25.10M	$24.20M	$19.20M	$12.59M	$7.330M	$4.700M	$2.840M	$1.820M	$1.250M
YoY Change	20.45%	6.37%	3.72%	26.04%	52.5%	71.76%	55.96%	65.49%	56.04%	45.6%
% of Gross Profit	9.9%	7.77%	6.65%	7.3%	5.85%	4.06%	2.81%	2.19%	1.64%	1.39%	1.36%
Operating Expenses	$333.8M	$337.2M	$333.2M	$307.3M	$300.0M	$273.2M	$223.9M	$179.1M	$144.4M	$106.9M	$75.80M
YoY Change	-1.01%	1.19%	8.43%	2.42%	9.82%	22.0%	25.01%	24.06%	35.08%	41.03%
Operating Profit	-$8.833M	$6.231M	$44.10M	$24.22M	$28.11M	$37.18M	$37.07M	$35.00M	$29.10M	$24.10M	$16.20M
YoY Change	-241.76%	-85.87%	82.11%	-13.85%	-24.4%	0.29%	5.92%	20.28%	20.75%	48.77%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Interest Expense	-$4.156M	$3.653M	$4.717M	$6.263M	$4.471M	$5.949M	$1.988M	$194.0K	-$300.0K	-$300.0K	-$200.0K
YoY Change	-213.77%	-22.56%	-24.68%	40.08%	-24.84%	199.25%	924.74%	-164.67%	0.0%	50.0%
% of Operating Profit		58.63%	10.7%	25.86%	15.91%	16.0%	5.36%	0.55%	-1.03%	-1.24%	-1.23%
Other Income/Expense, Net	$923.0K	$376.0K	$55.00K	$65.00K	$291.0K	$383.0K	$421.0K	$247.0K	$200.0K	$400.0K	$100.0K
YoY Change	145.48%	583.64%	-15.38%	-77.66%	-24.02%	-9.03%	70.45%	23.5%	-50.0%	300.0%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Pretax Income	-$12.07M	$2.954M	$39.44M	$18.02M	$23.93M	$31.62M	$35.51M	$35.05M	$29.00M	$24.10M	$16.10M
YoY Change	-508.46%	-92.51%	118.89%	-24.7%	-24.31%	-10.96%	1.29%	20.88%	20.33%	49.69%
Income Tax	-$2.693M	$708.0K	$9.887M	$4.637M	$5.429M	$8.450M	$11.88M	$13.53M	$1.300M
% Of Pretax Income		23.97%	25.07%	25.74%	22.69%	26.73%	33.45%	38.58%	4.48%
Net Earnings	-$9.356M	$2.304M	$29.70M	$13.58M	$18.92M	$23.16M	$23.35M	$21.32M	$27.40M	$23.60M	$15.50M
YoY Change	-506.08%	-92.24%	118.77%	-28.24%	-18.29%	-0.84%	9.55%	-22.21%	16.1%	52.26%
Net Earnings / Revenue	-1.45%	0.35%	4.25%	2.13%	3.07%	4.08%	4.95%	5.67%	9.01%	10.18%	9.5%
Basic Earnings Per Share	-$0.28	$0.07	$0.91	$0.42	$0.59
Diluted Earnings Per Share	-$0.28	$0.07	$0.90	$0.42	$0.58	$718.3K	$724.5K	$661.5K	$1.054M	$983.3K	$654.0K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Cash & Short-Term Investments	$32.16M	$45.55M	$77.05M	$47.20M	$2.100M	$700.0K	$2.900M	$24.00M	$37.90M	$7.900M	$7.500M
YoY Change	-29.4%	-40.89%	63.24%	2147.62%	200.0%	-75.86%	-87.92%	-36.68%	379.75%	5.33%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets	$16.49M	$19.39M	$15.11M	$8.700M	$8.800M	$15.10M	$9.000M	$6.500M	$5.100M	$4.000M	$3.000M
YoY Change	-14.95%	28.32%	73.66%	-1.14%	-41.72%	67.78%	38.46%	27.45%	27.5%	33.33%
Inventory	$125.8M	$154.9M	$122.7M	$149.1M	$147.8M	$97.70M	$89.50M	$70.40M	$55.30M	$41.40M	$30.80M
Prepaid Expenses
Receivables	$5.955M	$6.041M	$7.690M	$5.300M	$3.400M	$0.00	$100.0K	$0.00	$0.00	$0.00	$0.00
Other Receivables	$617.0K	$0.00	$0.00	$0.00	$0.00	$4.600M	$200.0K	$400.0K	$100.0K	$100.0K	$500.0K
Total Short-Term Assets	$181.0M	$225.9M	$222.5M	$210.3M	$162.2M	$118.2M	$101.8M	$101.2M	$98.40M	$53.40M	$41.70M
YoY Change	-19.89%	1.52%	5.81%	29.65%	37.23%	16.11%	0.59%	2.85%	84.27%	28.06%
Property, Plant & Equipment	$294.5M	$287.3M	$281.1M	$295.2M	$304.2M	$167.1M	$109.7M	$52.40M	$21.50M	$16.90M	$13.00M
YoY Change	2.5%	2.19%	-4.77%	-2.96%	82.05%	52.32%	109.35%	143.72%	27.22%	30.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$4.986M	$5.539M	$6.554M	$6.100M	$6.400M	$6.300M	$6.300M
YoY Change	-9.98%	-15.49%	7.44%	-4.69%	1.59%	0.0%
Other Assets	$10.03M	$8.727M	$4.705M	$3.300M	$600.0K	$3.000M	$4.800M	$1.900M	$300.0K	$300.0K	$300.0K
YoY Change	14.93%	85.48%	42.58%	450.0%	-80.0%	-37.5%	152.63%	533.33%	0.0%	0.0%
Total Long-Term Assets	$309.5M	$301.6M	$293.0M	$305.3M	$311.9M	$177.1M	$121.3M	$54.80M	$22.20M	$17.50M	$13.80M
YoY Change	2.63%	2.91%	-4.02%	-2.12%	76.12%	46.0%	121.35%	146.85%	26.86%	26.81%
Total Assets	$490.5M	$527.5M	$515.5M	$515.6M	$474.1M	$295.3M	$223.1M	$156.0M	$120.6M	$70.90M	$55.50M
YoY Change
Accounts Payable	$51.12M	$56.55M	$45.40M	$33.60M	$33.10M	$25.40M	$17.30M	$9.300M	$10.60M	$14.20M	$9.900M
YoY Change	-9.59%	24.55%	35.13%	1.51%	30.31%	46.82%	86.02%	-12.26%	-25.35%	43.43%
Accrued Expenses	$47.33M	$56.39M	$48.80M	$38.30M	$30.20M	$17.60M	$15.90M	$10.70M	$9.300M	$8.000M	$6.500M
YoY Change	-16.06%	15.54%	27.42%	26.82%	71.59%	10.69%	48.6%	15.05%	16.25%	23.08%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$3.996M	$3.610M	$3.394M	$5.800M	$3.200M	$500.0K	$100.0K	$700.0K	$700.0K	$1.400M	$900.0K
YoY Change	10.69%	6.36%	-41.48%	81.25%	540.0%	400.0%	-85.71%	0.0%	-50.0%	55.56%
Total Short-Term Liabilities	$102.4M	$118.3M	$116.0M	$95.70M	$79.80M	$52.60M	$50.30M	$35.10M	$24.70M	$27.60M	$19.70M
YoY Change	-13.4%	1.99%	21.21%	19.92%	51.71%	4.57%	43.3%	42.11%	-10.51%	40.1%
Long-Term Debt	$59.42M	$63.34M	$66.88M	$116.3M	$103.5M	$67.90M	$28.00M	$3.400M	$4.300M	$4.300M	$4.200M
YoY Change	-6.19%	-5.29%	-42.5%	12.37%	52.43%	142.5%	723.53%	-20.93%	0.0%	2.38%
Other Long-Term Liabilities	$106.4M	$117.4M	$107.1M	$104.3M	$106.1M	$5.000M	$3.400M	$2.100M	$1.100M	$800.0K	$300.0K
YoY Change	-9.33%	9.59%	2.68%	-1.7%	2022.0%	47.06%	61.9%	90.91%	37.5%	166.67%
Total Long-Term Liabilities	$165.8M	$180.7M	$174.0M	$220.6M	$209.6M	$72.90M	$31.40M	$5.500M	$5.400M	$5.100M	$4.500M
YoY Change	-8.23%	3.87%	-21.14%	5.25%	187.52%	132.17%	470.91%	1.85%	5.88%	13.33%
Total Liabilities	$265.2M	$297.0M	$289.7M	$322.1M	$295.8M	$135.0M	$87.00M	$44.80M	$31.80M	$34.20M	$25.20M
YoY Change	-10.71%	2.54%	-10.07%	8.89%	119.11%	55.17%	94.2%	40.88%	-7.02%	35.71%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2024	2023	2022	2021	2020
Basic Shares Outstanding	32.96M	32.77M	32.62M	32.45M	32.31M
Diluted Shares Outstanding	32.96M	32.99M	32.85M	32.58M	32.37M
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Dividends

Stock Price

Market Cap: $137.69 Million

About Duluth Holdings Inc

Duluth Holdings, Inc. engages in the provision of lifestyle brand of men and women casual wear, work wear, and accessories. The company is headquartered in Mount Horeb, Wisconsin and currently employs 950 full-time employees. The company went IPO on 2015-11-20. The Company’s product assortment includes shirts, pants, shorts, underwear, outerwear, footwear, accessories, and hard goods. Its products feature proprietary designs and distinct names, such as its Longtail T shirts, Buck Naked underwear, Fire Hose work pants, and No-Yank Tank. The Company’s product assortment appeals to its customers for their everyday and on-the-job use. The Company’s omnichannel services include order-in-store, buy-online-pickup-in-store, and ship-from-store as well as retail store and mobile shopping experiences. The Company’s products are marketed under the Duluth Trading Company brand, with many of the products being exclusively developed and sold as Duluth Trading branded merchandise. The firm operates 62 retail stores and three outlet stores.

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