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Duluth Holdings Balance Sheet 2026-2011 | DLTH
Brief balance sheet overview of Duluth Holdings
The balance sheet is assessed across five available annual reports spanning 2022 to 2026.
Assets finished at $402.6 million versus $515.5 million initially, losing -21.9%. The balance sheet contracted.
Assets and liabilities changed at similar rates, -21.9% and -19.2%. The funding mix did not shift sharply.
Equity finances 42% of the balance sheet, compared with 43.8% at the start. The cushion remains adequate.
Net debt to equity stands at 0.17x; the current burden does not look excessive.
Cash represents 4.1% of assets versus 14.9% initially, showing how the immediate liquidity reserve changed.
Retained earnings stand at $61.3 million; the five-period change was -53.1%. This reflects accumulated business performance.
What the balance sheet shows
Taken together, the figures indicate acceptable resilience for Duluth Holdings . The next assessment depends on debt and equity trends.
Annual Balance Sheet Duluth Holdings
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
28 M | 42.8 M | 18.5 M | 7.45 M | -23.9 M | 7.13 M | 106 M | 67.6 M | 25.2 M | -19.9 M | -32.8 M | -2.2 M | -2.4 M | - | - | - |
Long Term Debt |
27.9 M | 30.6 M | 34.3 M | 37.4 M | 40.3 M | 43.3 M | 105 M | 67.9 M | 28 M | 3.38 M | 4.3 M | 4.18 M | 4.16 M | - | - | - |
Long Term Debt Current |
16.4 M | 15.5 M | 16.4 M | 15.6 M | 12.9 M | 11 M | 10.7 M | 500 K | 84 K | 742 K | 722 K | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 217 M | 82.3 M | 36.7 M | 9.67 M | 5.44 M | 5.05 M | 4.53 M | - | - | - |
Total Current Liabilities |
108 M | 129 M | 106 M | 118 M | 116 M | 95.7 M | 78.8 M | 52.6 M | 50.3 M | 35.1 M | 24.7 M | - | - | - | - | - |
Total Liabilities |
236 M | 273 M | 271 M | 300 M | 293 M | 324 M | 296 M | 135 M | 87 M | 44.8 M | 30.1 M | 32.7 M | 24.2 M | - | - | - |
Deferred Revenue |
9.19 M | 9.78 M | 9.58 M | 10.2 M | 10.8 M | 9.94 M | 9.95 M | 10.5 M | 7.28 M | 5.59 M | 2.74 M | 4.03 M | 2.39 M | - | - | - |
Retained Earnings |
61.3 M | 77.7 M | 121 M | 133 M | 131 M | 101 M | 87.6 M | 70.6 M | 48.1 M | 24.7 M | 3.44 M | 36 M | 29.5 M | - | - | - |
Total Assets |
403 M | 452 M | 491 M | 527 M | 516 M | 516 M | 474 M | 295 M | 223 M | 156 M | 121 M | 70.9 M | 55.5 M | - | - | - |
Cash and Cash Equivalents |
16.3 M | 3.34 M | 32.2 M | 45.5 M | 77.1 M | 47.2 M | 538 K | 731 K | 2.86 M | 24 M | 37.9 M | 7.88 M | 7.5 M | - | - | - |
Book Value |
166 M | 180 M | 220 M | 227 M | 223 M | 191 M | 178 M | 160 M | 136 M | 111 M | 90.5 M | 38.3 M | 31.2 M | - | - | - |
Total Shareholders Equity |
169 M | 183 M | 223 M | 230 M | 226 M | 193 M | 178 M | 160 M | 136 M | 111 M | 88.8 M | 38.3 M | 31.2 M | - | - | - |
All numbers in USD currency
Quarterly Balance Sheet Duluth Holdings
| 2026-Q4 | 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
89.2 M | 76 M | 27.3 M | 28.6 M | 29.3 M | 30 M | 106 M | 31.3 M | - | 33.4 M | 117 M | 35.1 M | 35.9 M | 36.7 M | 37.4 M | 38.2 M | 38.9 M | 39.6 M | 43.3 M | 41 M | 41.6 M | 42.3 M | 27.8 M | 44 M | 36.9 M | 37.4 M | 28.3 M | 27.9 M | 28 M | 29.6 M | 1.42 M | 1.33 M | 36.4 M | 1.4 M | 35 K | 1.44 M | 1.47 M | 34 K | 4.3 M | 731 K | 747 K | 1.21 M | 4.26 M | 4.37 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
273 M | 236 M | 224 M | 310 M | 267 M | 299 M | 271 M | 348 M | - | 256 M | 300 M | 312 M | 280 M | 264 M | 300 M | 329 M | 269 M | 281 M | 324 M | 303 M | 261 M | 290 M | 298 M | 386 M | 339 M | 345 M | 83.5 M | 365 M | 281 M | 268 M | 83.8 M | 182 M | 125 M | 111 M | 42.2 M | 134 M | 61.7 M | 45.2 M | 30.1 M | 56.1 M | 35.5 M | 25.1 M | 32.7 M | 68 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
9.78 M | 9.19 M | 7.88 M | 7.58 M | 7.72 M | 8.51 M | 9.58 M | 7.16 M | - | 8.1 M | 10.2 M | 7.65 M | 7.83 M | 8.52 M | 10.2 M | 7.5 M | 8.11 M | 9.05 M | 9.94 M | 7.4 M | 7.76 M | 8.59 M | 9.95 M | 7.19 M | 7.75 M | 7.89 M | 8.49 M | 6.95 M | 6.86 M | 7.33 M | 7.28 M | 4.86 M | 5.04 M | 4.75 M | 5.59 M | 6.4 M | 4.91 M | 4.84 M | 2.74 M | 5.42 M | 3.34 M | 3.97 M | 4.03 M | 4.62 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
77.7 M | 61.3 M | 51.2 M | 53.6 M | 63.7 M | 62.4 M | 121 M | 83.7 M | - | 116 M | 133 M | 117 M | 127 M | 129 M | 133 M | 126 M | 132 M | 130 M | 101 M | 114 M | 111 M | 102 M | 87.6 M | 79.3 M | 78.4 M | 72.5 M | 70.6 M | 63.2 M | 63 M | 61.1 M | 48.1 M | 50 M | 53.1 M | 46.7 M | 24.7 M | 28.6 M | 29.4 M | 25.1 M | 3.44 M | 10.7 M | 10.3 M | 6.58 M | 36 M | 32.3 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
452 M | 403 M | 381 M | 468 M | 434 M | 464 M | 491 M | 533 M | - | 471 M | 527 M | 526 M | 503 M | 488 M | 527 M | 548 M | 493 M | 503 M | 515 M | 508 M | 463 M | 482 M | 474 M | 555 M | 506 M | 506 M | 222 M | 518 M | 434 M | 419 M | 223 M | 325 M | 270 M | 249 M | 156 M | 253 M | 182 M | 160 M | 121 M | 156 M | 133 M | 119 M | 70.9 M | 103 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
32.2 M | 3.34 M | 6.13 M | 8.17 M | 5.74 M | 8.58 M | 45.5 M | 9.34 M | 9.79 M | 6.8 M | 77.1 M | 8.18 M | 11.1 M | 9.21 M | 45.5 M | 9.41 M | 15.4 M | 40.4 M | 46.6 M | 19.8 M | 18.9 M | 26.1 M | 2.19 M | 12.8 M | 19 M | 8.85 M | 731 K | 2.19 M | 3.47 M | 992 K | 2.86 M | 2.5 M | 2.42 M | 1.18 M | 24 M | 958 K | 1.41 M | 13.6 M | 37.9 M | 173 K | 23.3 M | 30.3 M | 7.88 M | 209 K | 366 K | 322 K | 7.5 M | 352 K | - | - | 242 K | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
180 M | 166 M | 157 M | 158 M | 167 M | 165 M | 220 M | 185 M | - | 215 M | 227 M | 214 M | 223 M | 224 M | 227 M | 219 M | 224 M | 221 M | 190 M | 205 M | 202 M | 192 M | 176 M | 169 M | 167 M | 161 M | 139 M | 153 M | 153 M | 151 M | 139 M | 143 M | 145 M | 138 M | 114 M | 119 M | 120 M | 115 M | 90.5 M | 99.5 M | 97.9 M | 93.9 M | 38.3 M | 35.2 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
220 M | 180 M | 159 M | 161 M | 170 M | 168 M | 225 M | 188 M | 212 M | 213 M | 223 M | 217 M | 227 M | 224 M | 230 M | 219 M | 224 M | 221 M | 193 M | 208 M | 201 M | 191 M | 178 M | 171 M | 170 M | 163 M | 160 M | 153 M | 154 M | 151 M | 136 M | 139 M | 142 M | 135 M | 111 M | 116 M | 116 M | 112 M | 88.8 M | 96.9 M | 96.1 M | 92.1 M | 36.8 M | 33.5 M | - | - | 31.2 M | - | - | - | 19.2 M | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Duluth Holdings , providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Retail apparel
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|---|---|---|---|---|---|
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URBN
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The TJX Companies
TJX
|
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Zumiez
ZUMZ
|
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Chico's FAS
CHS
|
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EXPR
|
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Takung Art Co., Ltd.
TKAT
|
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G-III Apparel Group, Ltd.
GIII
|
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American Eagle Outfitters
AEO
|
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Abercrombie & Fitch Co.
ANF
|
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The Buckle
BKE
|
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Boot Barn Holdings
BOOT
|
$ 152.6 | 4.7 % | $ 4.66 B | USA |
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Naked Brand Group Limited
NAKD
|
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Burlington Stores
BURL
|
$ 255.42 | 2.62 % | $ 16.1 B | USA |
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The Cato Corporation
CATO
|
$ 2.54 | 0.38 % | $ 47.7 M | USA |
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Carter's
CRI
|
$ 32.28 | 1.21 % | $ 1.14 B | USA |
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Citi Trends
CTRN
|
$ 70.5 | 2.92 % | $ 568 M | USA |
 |
Designer Brands
DBI
|
$ 5.2 | 2.14 % | $ 256 M | USA |
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Genesco
GCO
|
$ 34.55 | 0.06 % | $ 358 M | USA |
 |
L Brands, Inc.
LB
|
- | -0.19 % | $ 22.3 B | USA |
 |
J.Jill
JILL
|
$ 19.84 | 3.1 % | $ 301 M | USA |
 |
Lululemon Athletica
LULU
|
$ 103.19 | 2.56 % | $ 12.3 B |  Canada |
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The Children's Place
PLCE
|
$ 2.79 | 1.42 % | $ 61.5 M | USA |
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Guess'
GES
|
- | - | $ 870 M | USA |
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The Gap
GPS
|
- | 4.38 % | $ 9.08 B | USA |
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Shoe Carnival
SCVL
|
- | - | $ 476 M | USA |