What is Duluth Holdings Inc.'s net debt / EBITDA?

Duluth Holdings Inc. (DLTH) reported net debt / EBITDA of 21.1× in Q3 2025.

What is the long-term trend for Duluth Holdings Inc.'s net debt / EBITDA?

Over 2 years (2020 to 2022), Duluth Holdings Inc.'s net debt / EBITDA has grown at a 24.1% compound annual growth rate (CAGR), from 2.7× to 4.2×.

What does net debt / EBITDA mean?

Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.

Duluth Holdings Inc. DLTH Net debt / EBITDA

Net debt / EBITDA at other companies

V.F. CorporationVFC

4.9×—

W.W. GraingerGWW

0.7×0.0×

Dick's Sporting GoodsDKS

2.8×+1.8×

Lands' End, Inc.LE

-0.2×-3.2×

Designer BrandsDBI

13.2×-1.0×

Hour Loop, Inc.HOUR

-0.4×—

Other financials

Income statement

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Revenue$98.6M-4.0%

Gross profit$56.6M+6.1%

Operating income-$9.2M+25.3%

Net income-$10.1M+34.0%

EPS (diluted)-$0.29+35.6%

Balance sheet

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Cash & equivalents$6.1M-28.5%

Total debt$144.3M-10.6%

Total equity$159.4M-5.1%

Total assets$380.7M-17.9%

Cash flow

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Operating cash flow-$13.4M+76.2%

CapEx$1.8M+33.6%

Free cash flow-$15.2M+73.7%

Valuation

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Market cap$170.25M+128%

Enterprise value$308.45M+35.4%

P/S0.3×+0.2×

Profitability

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Gross margin54.3%+5.3pp

Operating margin-3.9%—

Net margin-5%—

FCF margin10.5%—

Returns & leverage

See full

Return on equity-17%—

Debt / equity0.9×-0.1×

Current ratio1.6×+0.3×

Where this comes from

Calculated from Duluth Holdings Inc.’s reported figures.

net debt/ebitda=21.1×

Based on the most recent quarter.

The official record: Duluth Holdings Inc.’s 10-Q, filed December 17, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Duluth Holdings Inc.'s net debt / EBITDA?: Duluth Holdings Inc. (DLTH) reported net debt / EBITDA of 21.1× in Q3 2025.
What is the long-term trend for Duluth Holdings Inc.'s net debt / EBITDA?: Over 2 years (2020 to 2022), Duluth Holdings Inc.'s net debt / EBITDA has grown at a 24.1% compound annual growth rate (CAGR), from 2.7× to 4.2×.
What does net debt / EBITDA mean?: Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.