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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
American Assets Trust, Inc. is the larger business by last-quarter revenue ($110.6M vs $73.5M, roughly 1.5× Target Hospitality Corp.). American Assets Trust, Inc. runs the higher net margin — 6.1% vs -20.3%, a 26.4% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 1.8%). Over the past eight quarters, Target Hospitality Corp.'s revenue compounded faster (0.7% CAGR vs -0.1%).
Personal Assets Trust is a large British investment trust. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The chairman is Iain Ferguson CBE.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
AAT vs TH — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $110.6M | $73.5M |
| Net Profit | $6.7M | $-14.9M |
| Gross Margin | — | 9.6% |
| Operating Margin | 23.4% | -22.9% |
| Net Margin | 6.1% | -20.3% |
| Revenue YoY | 1.8% | 22.0% |
| Net Profit YoY | -16.3% | -219.1% |
| EPS (diluted) | $0.08 | $-0.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $110.6M | — | ||
| Q4 25 | $110.1M | $73.5M | ||
| Q3 25 | $109.6M | $91.6M | ||
| Q2 25 | $107.9M | $54.9M | ||
| Q1 25 | $108.6M | $54.9M | ||
| Q4 24 | $113.5M | $60.2M | ||
| Q3 24 | $122.8M | $65.8M | ||
| Q2 24 | $110.9M | $67.5M |
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | $-14.9M | ||
| Q3 25 | $4.5M | $-795.0K | ||
| Q2 25 | $5.5M | $-14.9M | ||
| Q1 25 | $42.5M | $-6.5M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | $16.7M | $20.0M | ||
| Q2 24 | $11.9M | $18.4M |
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | 9.6% | ||
| Q3 25 | 60.5% | 19.6% | ||
| Q2 25 | 62.6% | -0.6% | ||
| Q1 25 | 62.0% | 32.7% | ||
| Q4 24 | 61.3% | 61.5% | ||
| Q3 24 | 65.5% | 68.7% | ||
| Q2 24 | 63.6% | 69.4% |
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | -22.9% | ||
| Q3 25 | 22.6% | 0.1% | ||
| Q2 25 | 24.1% | -30.8% | ||
| Q1 25 | 66.3% | -2.0% | ||
| Q4 24 | 26.5% | 34.5% | ||
| Q3 24 | 30.8% | 42.5% | ||
| Q2 24 | 27.8% | 43.8% |
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | -20.3% | ||
| Q3 25 | 4.1% | -0.9% | ||
| Q2 25 | 5.1% | -27.2% | ||
| Q1 25 | 39.2% | -11.8% | ||
| Q4 24 | — | 20.8% | ||
| Q3 24 | 13.6% | 30.4% | ||
| Q2 24 | 10.7% | 27.2% |
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | $-0.14 | ||
| Q3 25 | $0.07 | $-0.01 | ||
| Q2 25 | $0.09 | $-0.15 | ||
| Q1 25 | $0.70 | $-0.07 | ||
| Q4 24 | $0.14 | $0.12 | ||
| Q3 24 | $0.28 | $0.20 | ||
| Q2 24 | $0.20 | $0.18 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $118.3M | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $1.1B | $389.3M |
| Total Assets | $2.9B | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $8.3M | ||
| Q3 25 | $138.7M | $30.4M | ||
| Q2 25 | $143.7M | $19.2M | ||
| Q1 25 | $143.9M | $34.5M | ||
| Q4 24 | $425.7M | $190.7M | ||
| Q3 24 | $533.0M | $177.7M | ||
| Q2 24 | $114.9M | $154.3M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | $2.0B | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $389.3M | ||
| Q3 25 | $1.2B | $402.4M | ||
| Q2 25 | $1.2B | $401.3M | ||
| Q1 25 | $1.2B | $415.3M | ||
| Q4 24 | $1.2B | $421.1M | ||
| Q3 24 | $1.2B | $417.6M | ||
| Q2 24 | $1.2B | $397.2M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $530.2M | ||
| Q3 25 | $2.9B | $541.2M | ||
| Q2 25 | $3.0B | $533.7M | ||
| Q1 25 | $3.0B | $562.5M | ||
| Q4 24 | $3.3B | $725.8M | ||
| Q3 24 | $3.4B | $709.8M | ||
| Q2 24 | $3.0B | $697.0M |
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | 1.72× | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $5.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 14.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $5.7M | ||
| Q3 25 | $40.5M | $53.4M | ||
| Q2 25 | $49.2M | $11.1M | ||
| Q1 25 | $36.9M | $3.9M | ||
| Q4 24 | $207.1M | $30.6M | ||
| Q3 24 | $52.4M | $31.4M | ||
| Q2 24 | $59.3M | $39.1M |
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | — | ||
| Q3 25 | $23.1M | — | ||
| Q2 25 | $28.4M | — | ||
| Q1 25 | $20.4M | $-11.6M | ||
| Q4 24 | $136.9M | — | ||
| Q3 24 | $28.0M | — | ||
| Q2 24 | $43.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | — | ||
| Q3 25 | 21.1% | — | ||
| Q2 25 | 26.3% | — | ||
| Q1 25 | 18.8% | -21.1% | ||
| Q4 24 | 120.7% | — | ||
| Q3 24 | 22.8% | — | ||
| Q2 24 | 39.3% | — |
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | — | ||
| Q3 25 | 15.9% | — | ||
| Q2 25 | 19.3% | — | ||
| Q1 25 | 15.1% | 28.2% | ||
| Q4 24 | 61.9% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 14.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.98× | — | ||
| Q2 25 | 9.01× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | 3.15× | 1.57× | ||
| Q2 24 | 4.98× | 2.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAT
| Rental income | $104.4M | 94% |
| Other | $6.2M | 6% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
