Portfolio / Northwind Brands
Consumer · Portland, OR
Northwind Brands
House of premium outdoor apparel brands sold DTC and via specialty wholesale.
LTM Revenue
$125.8m
LTM EBITDA
$14.6m
Multiple
8x
Net debt
$82m
Enterprise value
$116.8m
Quarter-over-quarter trend
Quarterly Financials
Northwind Brands · last 4 quarters
| Q1 2026 | Q2 2026 | Q3 2026 | Q4 Current mark · 2026 | ||
|---|---|---|---|---|---|
| Operating results | |||||
| LTM Revenue$m | 122.7 | 125.2 | 123.9 | 125.8 | |
| LTM EBITDA$m | 14.7 | 15 | 14.3 | 14.6 | |
| EBITDA margin | 12% | 12% | 11.5% | 11.6% | |
| Valuation build | |||||
| Multiple (EV / LTM EBITDA)x | 10.0x | 9.5x | 8.5x | 8.0x | |
| Enterprise value | $147 | $142.5 | $121.6 | $116.8 | |
| (−) Net debt$m | 70 | 72 | 78 | 82 | |
| Equity value (100%) | $77 | $70.5 | $43.6 | $34.8 | |
| Fund share (70%) | $53.9 | $49.3 | $30.5 | $24.4 | |
Trend view · click Explain on any row to get an AI-written commentary on the latest quarter-over-quarter move.
CURRENT QUARTER
Peer Compare
Ownership 70% · Cost $145m
| Northwind Brands Current mark | YETI Public comp | COLM Public comp | DECK Public comp | ||
|---|---|---|---|---|---|
| Operating results | |||||
| LTM Revenue$m | |||||
| LTM EBITDA$m | |||||
| EBITDA margin | 11.6% | 13.6% | 10.1% | 12.1% | |
| Valuation build | |||||
| Multiple (EV / LTM EBITDA)x | |||||
| Enterprise value | $116.8 | $349.6 | $97.9 | $204.1 | |
| (−) Net debt$m | |||||
| Equity value (100%) | $34.8 | $215.3 | $33.1 | $107.1 | |
| Fund share (70%) | $24.4 | $150.7 | $23.2 | $75 | |
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Valuation method