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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
Target Hospitality Corp. is the larger business by last-quarter revenue ($73.5M vs $50.1M, roughly 1.5× ACACIA RESEARCH CORP). ACACIA RESEARCH CORP runs the higher net margin — 6.8% vs -20.3%, a 27.2% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 2.6%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs 0.7%).
Acacia Research Corporation is a publicly traded American company based in New York City. It acquires and operates businesses in industries including the technology, energy, and industrial/manufacturing sectors. Acacia has a strategic relationship with Starboard Value, LP, the company's controlling shareholder. The company has been characterized as a patent troll.
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.
ACTG vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $73.5M |
| Net Profit | $3.4M | $-14.9M |
| Gross Margin | 12.8% | 9.6% |
| Operating Margin | -26.1% | -22.9% |
| Net Margin | 6.8% | -20.3% |
| Revenue YoY | 2.6% | 22.0% |
| Net Profit YoY | 125.5% | -219.1% |
| EPS (diluted) | $0.03 | $-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.
| Q4 25 | $50.1M | $73.5M | ||
| Q3 25 | $59.4M | $91.6M | ||
| Q2 25 | $51.2M | $54.9M | ||
| Q1 25 | $124.4M | $54.9M | ||
| Q4 24 | $48.8M | $60.2M | ||
| Q3 24 | $23.3M | $65.8M | ||
| Q2 24 | $25.8M | $67.5M | ||
| Q1 24 | $24.3M | $72.4M |
| Q4 25 | $3.4M | $-14.9M | ||
| Q3 25 | $-2.7M | $-795.0K | ||
| Q2 25 | $-3.3M | $-14.9M | ||
| Q1 25 | $24.3M | $-6.5M | ||
| Q4 24 | $-13.4M | $12.5M | ||
| Q3 24 | $-14.0M | $20.0M | ||
| Q2 24 | $-8.4M | $18.4M | ||
| Q1 24 | $-186.0K | $20.4M |
| Q4 25 | 12.8% | 9.6% | ||
| Q3 25 | 21.2% | 19.6% | ||
| Q2 25 | 12.8% | -0.6% | ||
| Q1 25 | 47.4% | 32.7% | ||
| Q4 24 | 17.6% | 61.5% | ||
| Q3 24 | 10.1% | 68.7% | ||
| Q2 24 | 26.2% | 69.4% | ||
| Q1 24 | 49.2% | 67.8% |
| Q4 25 | -26.1% | -22.9% | ||
| Q3 25 | -10.8% | 0.1% | ||
| Q2 25 | -24.2% | -30.8% | ||
| Q1 25 | 30.8% | -2.0% | ||
| Q4 24 | -32.4% | 34.5% | ||
| Q3 24 | -44.1% | 42.5% | ||
| Q2 24 | -18.4% | 43.8% | ||
| Q1 24 | -8.6% | 42.0% |
| Q4 25 | 6.8% | -20.3% | ||
| Q3 25 | -4.6% | -0.9% | ||
| Q2 25 | -6.4% | -27.2% | ||
| Q1 25 | 19.5% | -11.8% | ||
| Q4 24 | -27.5% | 20.8% | ||
| Q3 24 | -60.0% | 30.4% | ||
| Q2 24 | -32.7% | 27.2% | ||
| Q1 24 | -0.8% | 28.2% |
| Q4 25 | $0.03 | $-0.14 | ||
| Q3 25 | $-0.03 | $-0.01 | ||
| Q2 25 | $-0.03 | $-0.15 | ||
| Q1 25 | $0.25 | $-0.07 | ||
| Q4 24 | $-0.14 | $0.12 | ||
| Q3 24 | $-0.14 | $0.20 | ||
| Q2 24 | $-0.08 | $0.18 | ||
| Q1 24 | $0.00 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $306.7M | $8.3M |
| Total DebtLower is stronger | $91.9M | $1.7M |
| Stockholders' EquityBook value | $543.5M | $389.3M |
| Total Assets | $771.0M | $530.2M |
| Debt / EquityLower = less leverage | 0.17× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $8.3M | ||
| Q3 25 | $301.8M | $30.4M | ||
| Q2 25 | $316.7M | $19.2M | ||
| Q1 25 | $272.0M | $34.5M | ||
| Q4 24 | $273.9M | $190.7M | ||
| Q3 24 | $410.9M | $177.7M | ||
| Q2 24 | $441.9M | $154.3M | ||
| Q1 24 | $498.4M | $124.3M |
| Q4 25 | $91.9M | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $543.5M | $389.3M | ||
| Q3 25 | $537.6M | $402.4M | ||
| Q2 25 | $538.6M | $401.3M | ||
| Q1 25 | $540.2M | $415.3M | ||
| Q4 24 | $514.8M | $421.1M | ||
| Q3 24 | $540.2M | $417.6M | ||
| Q2 24 | $560.7M | $397.2M | ||
| Q1 24 | $568.3M | $375.5M |
| Q4 25 | $771.0M | $530.2M | ||
| Q3 25 | $768.9M | $541.2M | ||
| Q2 25 | $775.5M | $533.7M | ||
| Q1 25 | $801.6M | $562.5M | ||
| Q4 24 | $756.4M | $725.8M | ||
| Q3 24 | $707.6M | $709.8M | ||
| Q2 24 | $753.6M | $697.0M | ||
| Q1 24 | $631.7M | $687.2M |
| Q4 25 | 0.17× | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.48× |
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 | $75.2M | $5.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 22.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $5.7M | ||
| Q3 25 | $9.5M | $53.4M | ||
| Q2 25 | $50.1M | $11.1M | ||
| Q1 25 | $2.4M | $3.9M | ||
| Q4 24 | $50.1M | $30.6M | ||
| Q3 24 | $-593.0K | $31.4M | ||
| Q2 24 | $16.1M | $39.1M | ||
| Q1 24 | $54.8M | $50.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $335.0K | $-11.6M | ||
| Q4 24 | $-98.5M | — | ||
| Q3 24 | $-2.8M | — | ||
| Q2 24 | $-126.7M | — | ||
| Q1 24 | $54.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.3% | -21.1% | ||
| Q4 24 | -201.8% | — | ||
| Q3 24 | -12.1% | — | ||
| Q2 24 | -490.5% | — | ||
| Q1 24 | 224.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.7% | 28.2% | ||
| Q4 24 | 304.4% | — | ||
| Q3 24 | 9.6% | — | ||
| Q2 24 | 553.0% | — | ||
| Q1 24 | 1.1% | — |
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | — | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
