Duluth Holdings Inc. (DLTH) Balance Sheet
DLTH balance sheet, FY2026
January 31, 2026 · U.S. dollars$402.6M assets = $236.5M liabilities + $166.1M equity
Both columns are drawn to the same scale: what DLTH owns equals what it owes plus shareholders’ equity. Hover a block for its value.
DLTH financial health
Current ratio1.59
Comfortable · current assets cover current liabilities 1.59×
Debt / equity0.87
Moderate leverage · $0.87 of debt for each $1 of equity
Equity / assets42.0%
Equity-funded · of assets funded by shareholders
Cash / debt11.1%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles0.1%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
DLTH balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $156.0MFY2017 | $402.6MFY2026 | +11.1%/yr | |
| Total liabilities | $42.2MFY2017 | $236.5MFY2026 | +21.1%/yr | |
| Shareholders’ equity | $111.2MFY2017 | $169.0MFY2026 | +4.8%/yr | |
| Cash & short-term investments | $24.0MFY2017 | $16.3MFY2026 | −4.2%/yr | |
| Total debt | $4.1MFY2017 | $147.4MFY2026 | +48.8%/yr | |
| Net cash (debt) | $19.9MFY2017 | −$131.1MFY2026 | −$151.0M | |
| Working capital | $66.1MFY2017 | $63.8MFY2026 | −$2.3M | |
| Book value per share | $3.45FY2017 | $4.89FY2026 | +4.0%/yr | |
| Current ratio | 2.88FY2017 | 1.59FY2026 | −1.29 | |
| Debt / equity | 0.04FY2017 | 0.87FY2026 | +0.84 | |
| Shares outstanding | 32.2MFY2017 | 34.5MFY2026 | +0.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
DLTH assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
DLTH liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
DLTH debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
DLTH balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $16.3M | $3.3M | $32.2M | $45.5M | $77.1M | $47.2M | $538,000 | $731,000 | $2.9M | $24.0M |
| Cash & equivalents | $16.3M | $3.3M | $32.2M | $45.5M | $77.1M | $47.2M | $538,000 | $731,000 | $2.9M | $24.0M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $2.7M | $4.0M | $8.7M | $6.0M | $5.5M | $2.8M | $5.1M | $4.6M | $325,000 | $394,000 |
| Inventory | $133.4M | $166.5M | $125.8M | $157.3M | $122.7M | $149.1M | $147.8M | $97.2M | $89.5M | $70.4M |
| Other current assets | $19.6M | $17.8M | $14.3M | $12.8M | $17.3M | $11.2M | $8.8M | $15.1M | $9.1M | $6.4M |
| Total current assets | $172.1M | $191.6M | $181.0M | $221.7M | $222.5M | $210.3M | $162.2M | $117.7M | $101.8M | $101.2M |
| Property, plant & equipment (net) | $215.8M | $247.2M | $294.5M | $291.5M | $281.1M | $295.2M | $304.2M | $167.1M | $109.7M | $52.4M |
| Goodwill & intangible assets | $397,000 | $414,000 | $838,000 | $852,000 | $648,000 | $666,000 | $685,000 | $708,000 | $804,000 | $804,000 |
| Long-term investments | $4.8M | $4.5M | $5.0M | $5.5M | $6.6M | $6.1M | $6.4M | $6.3M | $6.3M | $0 |
| Other non-current assets | $9.6M | $8.7M | $9.2M | $7.9M | $4.7M | $3.3M | $562,000 | $0 | $4.4M | $1.5M |
| Total assets | $402.6M | $452.4M | $490.5M | $527.5M | $515.5M | $515.6M | $474.1M | $290.0M | $223.1M | $156.0M |
| Liabilities | ||||||||||
| Accounts payable | $48.2M | $73.9M | $51.1M | $56.5M | $45.4M | $33.6M | $29.6M | $24.9M | $17.3M | $9.3M |
| Short-term debt | $20.1M | $19.0M | $20.4M | $19.2M | $15.6M | $16.8M | $12.3M | $1.6M | $84,000 | $742,000 |
| Deferred revenue | $9.2M | $9.8M | $9.6M | $10.2M | $10.8M | $9.9M | $9.9M | $10.5M | $7.3M | $5.6M |
| Total current liabilities | $108.2M | $128.6M | $102.4M | $118.3M | $116.0M | $95.7M | $78.8M | $53.0M | $50.3M | $35.1M |
| Long-term debt | $23.3M | $24.3M | $25.1M | $25.9M | $26.6M | $73.0M | $104.5M | $67.9M | $28.0M | $3.4M |
| Lease obligations | $123.1M | $137.9M | $160.2M | $173.2M | $162.9M | $161.3M | $155.8M | $23.0M | $26.6M | $3.3M |
| Other long-term liabilities | $104.9M | $119.8M | $140.7M | $156.0M | $150.2M | $155.8M | $114.6M | $8.8M | $5.5M | $3.7M |
| Total liabilities | $236.5M | $272.8M | $268.3M | $300.3M | $292.8M | $324.5M | $297.9M | $129.7M | $83.8M | $42.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $110.8M | $108.0M | $103.6M | $98.8M | $95.5M | $92.9M | $90.9M | $89.8M | $88.0M | $86.4M |
| Retained earnings (deficit) | $61.3M | $77.7M | $123.8M | $133.2M | $130.9M | $101.2M | $87.6M | $70.7M | $48.1M | $24.7M |
| Treasury stock | — | — | — | −$1.5M | −$1.0M | −$628,000 | −$407,000 | −$92,000 | −$57,000 | $0 |
| Accumulated other comprehensive income | −$231,000 | −$722,000 | −$427,000 | −$148,000 | $489,000 | $48,000 | $188,000 | $0 | −$22.7M | $0 |
| Minority interest | −$2.9M | −$3.0M | −$3.1M | −$3.2M | −$3.2M | −$2.4M | — | — | $0 | $0 |
| Total shareholders' equity | $169.0M | $182.7M | $225.2M | $230.4M | $225.9M | $193.5M | $178.3M | $160.3M | $136.1M | $111.2M |
| Key figures | ||||||||||
| Total debt | $147.4M | $163.1M | $186.2M | $199.9M | $189.6M | $237.4M | $221.9M | $69.5M | $28.1M | $4.1M |
| Net cash (debt) | −$131.1M | −$159.8M | −$154.1M | −$154.3M | −$112.5M | −$190.1M | −$221.4M | −$68.7M | −$25.2M | $19.9M |
| Working capital | $63.8M | $63.0M | $78.5M | $103.4M | $106.5M | $114.6M | $83.4M | $64.7M | $51.5M | $66.1M |
| Tangible book value | $168.6M | $182.3M | $224.4M | $229.6M | $225.2M | $192.8M | $177.6M | $159.5M | $135.3M | $110.4M |
| Book value per share | $4.89 | $5.47 | $6.83 | $6.98 | $6.88 | $5.94 | $5.51 | $4.96 | $4.21 | $3.45 |
| Shares outstanding | 34.5M | 33.4M | 33.0M | 33.0M | 32.9M | 32.6M | 32.4M | 32.3M | 32.3M | 32.2M |
| Current ratio | 1.59 | 1.49 | 1.77 | 1.87 | 1.92 | 2.20 | 2.06 | 2.22 | 2.02 | 2.88 |
| Quick ratio | 0.18 | 0.06 | 0.40 | 0.44 | 0.71 | 0.52 | 0.07 | 0.10 | 0.06 | 0.70 |
| Debt / equity | 0.87 | 0.89 | 0.83 | 0.87 | 0.84 | 1.23 | 1.24 | 0.43 | 0.21 | 0.04 |
| Equity / assets | 42.0% | 40.4% | 45.9% | 43.7% | 43.8% | 37.5% | 37.6% | 55.3% | 61.0% | 71.3% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $26.8M | $6.1M | $16.3M | $8.2M | $5.7M | $8.6M | $3.3M | $9.3M | $9.8M | $6.8M | $32.2M | $8.2M |
| Cash & equivalents | $26.8M | $6.1M | $16.3M | $8.2M | $5.7M | $8.6M | $3.3M | $9.3M | $9.8M | $6.8M | $32.2M | $8.2M |
| Receivables | $2.1M | $1.8M | $2.7M | $5.4M | $9.0M | $4.2M | $4.0M | $4.5M | $8.6M | $10.7M | $6.6M | $7.8M |
| Inventory | $125.2M | $132.4M | $133.4M | $193.9M | $149.9M | $177.8M | $166.5M | $233.6M | $168.7M | $136.4M | $125.8M | $174.0M |
| Other current assets | $28.9M | $22.7M | $19.6M | $21.3M | $21.2M | $20.5M | $17.8M | $16.8M | $16.3M | $13.8M | $13.1M | $13.6M |
| Total current assets | $182.9M | $163.1M | $172.1M | $228.7M | $185.9M | $211.1M | $191.6M | $264.3M | $203.5M | $167.7M | $177.6M | $203.5M |
| Property, plant & equipment (net) | $198.4M | $204.0M | $215.8M | $223.8M | $231.9M | $238.5M | $247.2M | $252.5M | $263.6M | $282.4M | $294.5M | $304.1M |
| Goodwill & intangible assets | $390,000 | $393,000 | $397,000 | $401,000 | $406,000 | $410,000 | $414,000 | $821,000 | $825,000 | $830,000 | $838,000 | $838,000 |
| Long-term investments | $4.5M | $4.7M | $4.8M | $4.9M | $4.8M | $4.9M | $4.5M | $4.8M | $4.9M | $4.8M | $5.0M | $4.9M |
| Other non-current assets | $7.8M | $8.5M | $9.6M | $10.2M | $10.8M | $8.8M | $8.7M | $10.6M | $15.8M | $15.7M | $78.6M | $12.7M |
| Total assets | $394.0M | $380.6M | $402.6M | $468.0M | $433.8M | $463.7M | $452.4M | $533.1M | $488.6M | $471.4M | $556.5M | $526.0M |
| Liabilities | ||||||||||||
| Accounts payable | $47.3M | $40.1M | $48.2M | $80.2M | $43.6M | $45.9M | $73.9M | $104.5M | $77.6M | $37.4M | $51.1M | $53.5M |
| Short-term debt | $20.5M | $26.3M | $20.1M | $64.6M | $52.2M | $83.4M | $19.0M | $36.8M | $18.5M | $31.7M | $19.6M | $55.9M |
| Deferred revenue | — | $7.9M | $9.2M | $7.6M | $7.7M | $8.5M | $9.8M | $7.2M | $7.5M | $8.1M | $9.6M | −$36.0M |
| Total current liabilities | $97.3M | $100.8M | $108.2M | $177.7M | $129.1M | $157.0M | $128.6M | $203.6M | $127.0M | $95.5M | $102.4M | $141.2M |
| Long-term debt | $22.8M | $23.1M | $23.3M | $23.6M | $23.8M | $24.1M | $24.3M | $24.5M | $24.7M | $24.9M | $25.1M | $25.3M |
| Lease obligations | $117.2M | $118.5M | $123.1M | $127.1M | $131.7M | $134.9M | $137.9M | $137.7M | $142.7M | $155.5M | $160.2M | $164.7M |
| Other long-term liabilities | $98.8M | $100.2M | $104.9M | $109.1M | $113.9M | $117.8M | $119.8M | $119.8M | $124.2M | $135.6M | $206.7M | $145.6M |
| Total liabilities | $218.9M | $224.1M | $236.5M | $310.3M | $266.7M | $298.8M | $272.8M | $348.0M | $275.9M | $256.1M | $334.3M | $312.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $112.5M | $111.6M | $110.8M | $110.1M | $109.5M | $108.3M | $108.0M | $107.2M | $106.2M | $105.1M | $103.6M | $102.6M |
| Retained earnings (deficit) | $69.6M | $51.2M | $61.3M | $53.6M | $63.7M | $62.4M | $77.7M | $83.7M | $112.2M | $115.9M | $123.8M | $116.8M |
| Accumulated other comprehensive income | −$342,000 | −$260,000 | −$231,000 | −$192,000 | −$272,000 | −$300,000 | −$722,000 | −$426,000 | −$436,000 | −$532,000 | −$427,000 | −$553,000 |
| Minority interest | −$2.8M | −$2.8M | −$2.9M | −$2.9M | −$2.9M | — | — | — | — | — | — | — |
| Total shareholders' equity | $177.9M | $159.4M | $169.0M | $160.6M | $170.0M | $167.9M | $182.7M | $188.1M | $215.7M | $218.4M | $225.2M | $217.1M |
| Key figures | ||||||||||||
| Total debt | $141.1M | $148.7M | $147.4M | $196.3M | $188.9M | $223.9M | $163.1M | $138.6M | $167.4M | $192.3M | $185.4M | $226.8M |
| Net cash (debt) | −$114.3M | −$142.5M | −$131.1M | −$188.1M | −$183.2M | −$215.3M | −$159.8M | −$129.2M | −$157.6M | −$185.5M | −$153.2M | −$218.7M |
| Working capital | $85.7M | $62.3M | $63.8M | $51.1M | $56.9M | $54.2M | $63.0M | $60.6M | $76.5M | $72.2M | $75.2M | $62.3M |
| Tangible book value | $177.6M | $159.0M | $168.6M | $160.2M | $169.6M | $167.5M | $182.3M | $187.3M | $214.9M | $217.5M | $224.4M | $216.3M |
| Book value per share | $5.04 | $4.59 | $4.89 | $4.65 | $4.93 | $4.98 | $5.45 | $5.62 | $6.46 | $6.60 | $6.82 | $6.58 |
| Shares outstanding | 35.3M | 34.7M | 34.5M | 34.5M | 34.4M | 33.7M | 33.5M | 33.4M | 33.4M | 33.1M | 33.0M | 33.0M |
| Current ratio | 1.88 | 1.62 | 1.59 | 1.29 | 1.44 | 1.35 | 1.49 | 1.30 | 1.60 | 1.76 | 1.73 | 1.44 |
| Quick ratio | 0.30 | 0.08 | 0.18 | 0.08 | 0.11 | 0.08 | 0.06 | 0.07 | 0.14 | 0.18 | 0.38 | 0.11 |
| Debt / equity | 0.79 | 0.93 | 0.87 | 1.22 | 1.11 | 1.33 | 0.89 | 0.74 | 0.78 | 0.88 | 0.82 | 1.04 |
| Equity / assets | 45.2% | 41.9% | 42.0% | 34.3% | 39.2% | 36.2% | 40.4% | 35.3% | 44.1% | 46.3% | 40.5% | 41.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 20, 2026); data from EODHD.
DLTH financial position
At the end of fiscal 2026 (January 31, 2026), Duluth had total assets of $402.6 million (down 11.0% from a year earlier), total liabilities of $236.5 million and shareholders' equity of $169.0 million. It held $16.3 million in cash and short-term investments against $147.4 million of debt, net debt of $131.1 million. Its current ratio was 1.59. In the latest quarter (ended July 31, 2026) total assets were $394.0 million and equity $177.9 million.
Related: DLTH income statement, DLTH cash flow statement, DLTH key metrics. See the DLTH stock overview for the latest quote and news.
DLTH balance sheet FAQ
What are Duluth's total assets?
Duluth reported total assets of $402.6 million at the end of fiscal 2026 (January 31, 2026), compared with $452.4 million a year earlier.
How much debt does Duluth have?
Duluth had $147.4 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.87.
How much cash does Duluth have?
Duluth held $16.3 million in cash and short-term investments at the end of fiscal 2026; with $147.4 million of debt that is net debt of $131.1 million.
What is Duluth's book value?
Duluth's shareholders' equity (book value) was $169.0 million at the end of fiscal 2026, or $4.89 per share.
What is Duluth's current ratio?
Duluth had current assets of $172.1 million and current liabilities of $108.2 million, a current ratio of 1.59 (it can cover its short-term obligations).
How much goodwill does Duluth have?
Duluth carried $0.4 million of goodwill and intangible assets, 0.1% of total assets, at the end of fiscal 2026.