Duluth Holdings Inc. (DLTH)

Retail-Apparel & Accessory Stores

Latest Price

$4.39

TTM P/E

29.27

Normalized P/E

TTM Div Yield

Fwd Div Yield

Book Value

5.08

P/B Ratio

0.86

Valuation metrics

Norm. op. income: $24M (median of 7yr)

Tax rate: 25%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$4.89

+20% upside

Base FCF: $39M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$83.51

+1952% upside

13.8% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
Tieton Capital Management, LLC	726.5K	$3.0M	2.08%	-20.6K	2026-06-30
Vanguard Capital Management LLC	655.0K	$2.0M	1.87%	+7.5K	2026-06-30
Dimensional Fund Advisors LP	562.8K	$2.0M	1.61%	-18.5K	2026-06-30
BlackRock, Inc.	375.3K	$1.0M	1.07%	-8.4K	2026-06-30
Sei Investments Co	318.3K	$1.0M	0.91%	-45.2K	2026-06-30
Connor, Clark & Lunn Investment Management Ltd.	287.6K	$1.0M	0.82%	+48.0K	2026-06-30
Informed Momentum Co LLC	229.9K	$1.0M	0.66%	--	2026-06-30
Bridgeway Capital Management, LLC	170.3K	--	0.49%	+14.4K	2026-06-30
Geode Capital Management, LLC	166.9K	--	0.48%	-20.3K	2026-06-30
Citadel Advisors LLC	106.8K	--	0.31%	+41.6K	2026-06-30