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Side-by-side financial comparison of AlTi Global, Inc. (ALTI) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
AlTi Global, Inc. is the larger business by last-quarter revenue ($86.6M vs $73.5M, roughly 1.2× Target Hospitality Corp.). AlTi Global, Inc. runs the higher net margin — -15.1% vs -20.3%, a 5.2% gap on every dollar of revenue. On growth, AlTi Global, Inc. posted the faster year-over-year revenue change (87.0% vs 22.0%). Over the past eight quarters, AlTi Global, Inc.'s revenue compounded faster (30.6% CAGR vs 0.7%).
Cristal Global is the world's second-largest producer of titanium dioxide and a leading producer of titanium chemicals. It was formed when The National Titanium Dioxide Company Ltd. combined with Millennium Chemicals. The headquarters are in Jeddah, Saudi Arabia. It is a significant shareholder in Bemax, the world’s 5th largest TiO2 feedstock producer.
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.
ALTI vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.6M | $73.5M |
| Net Profit | $-13.1M | $-14.9M |
| Gross Margin | — | 9.6% |
| Operating Margin | -2.1% | -22.9% |
| Net Margin | -15.1% | -20.3% |
| Revenue YoY | 87.0% | 22.0% |
| Net Profit YoY | 75.6% | -219.1% |
| EPS (diluted) | — | $-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 | $86.6M | $73.5M | ||
| Q3 25 | $57.2M | $91.6M | ||
| Q2 25 | $53.1M | $54.9M | ||
| Q1 25 | $58.0M | $54.9M | ||
| Q4 24 | $46.3M | $60.2M | ||
| Q3 24 | $51.8M | $65.8M | ||
| Q2 24 | $49.5M | $67.5M | ||
| Q1 24 | $50.8M | $72.4M |
| Q4 25 | $-13.1M | $-14.9M | ||
| Q3 25 | $-84.1M | $-795.0K | ||
| Q2 25 | $-24.4M | $-14.9M | ||
| Q1 25 | $1.9M | $-6.5M | ||
| Q4 24 | $-53.8M | $12.5M | ||
| Q3 24 | $-72.5M | $20.0M | ||
| Q2 24 | $-6.4M | $18.4M | ||
| Q1 24 | $29.7M | $20.4M |
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | -0.6% | ||
| Q1 25 | — | 32.7% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 68.7% | ||
| Q2 24 | — | 69.4% | ||
| Q1 24 | — | 67.8% |
| Q4 25 | -2.1% | -22.9% | ||
| Q3 25 | -49.8% | 0.1% | ||
| Q2 25 | -56.7% | -30.8% | ||
| Q1 25 | -23.3% | -2.0% | ||
| Q4 24 | -42.7% | 34.5% | ||
| Q3 24 | -18.4% | 42.5% | ||
| Q2 24 | -30.2% | 43.8% | ||
| Q1 24 | -28.9% | 42.0% |
| Q4 25 | -15.1% | -20.3% | ||
| Q3 25 | -147.0% | -0.9% | ||
| Q2 25 | -45.9% | -27.2% | ||
| Q1 25 | 3.3% | -11.8% | ||
| Q4 24 | -116.1% | 20.8% | ||
| Q3 24 | -140.0% | 30.4% | ||
| Q2 24 | -12.9% | 27.2% | ||
| Q1 24 | 58.4% | 28.2% |
| Q4 25 | — | $-0.14 | ||
| Q3 25 | — | $-0.01 | ||
| Q2 25 | $-0.33 | $-0.15 | ||
| Q1 25 | $-0.04 | $-0.07 | ||
| Q4 24 | $-0.71 | $0.12 | ||
| Q3 24 | $-0.88 | $0.20 | ||
| Q2 24 | $-0.18 | $0.18 | ||
| Q1 24 | $0.18 | $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 | $41.2M | $8.3M |
| Total DebtLower is stronger | $883.0K | $1.7M |
| Stockholders' EquityBook value | $600.1M | $389.3M |
| Total Assets | $1.2B | $530.2M |
| Debt / EquityLower = less leverage | 0.00× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $41.2M | $8.3M | ||
| Q3 25 | $35.8M | $30.4M | ||
| Q2 25 | $42.4M | $19.2M | ||
| Q1 25 | $52.8M | $34.5M | ||
| Q4 24 | $64.4M | $190.7M | ||
| Q3 24 | $220.6M | $177.7M | ||
| Q2 24 | $60.0M | $154.3M | ||
| Q1 24 | $134.2M | $124.3M |
| Q4 25 | $883.0K | $1.7M | ||
| Q3 25 | $586.0K | $2.0M | ||
| Q2 25 | $673.0K | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | $0 | $1.5M | ||
| Q3 24 | $128.4M | $994.0K | ||
| Q2 24 | $164.0M | $1.1M | ||
| Q1 24 | $183.7M | $179.9M |
| Q4 25 | $600.1M | $389.3M | ||
| Q3 25 | $607.2M | $402.4M | ||
| Q2 25 | $685.4M | $401.3M | ||
| Q1 25 | $665.2M | $415.3M | ||
| Q4 24 | $658.4M | $421.1M | ||
| Q3 24 | $707.0M | $417.6M | ||
| Q2 24 | $540.2M | $397.2M | ||
| Q1 24 | $510.9M | $375.5M |
| Q4 25 | $1.2B | $530.2M | ||
| Q3 25 | $1.2B | $541.2M | ||
| Q2 25 | $1.2B | $533.7M | ||
| Q1 25 | $1.2B | $562.5M | ||
| Q4 24 | $1.3B | $725.8M | ||
| Q3 24 | $1.4B | $709.8M | ||
| Q2 24 | $1.3B | $697.0M | ||
| Q1 24 | $1.3B | $687.2M |
| Q4 25 | 0.00× | 0.00× | ||
| Q3 25 | 0.00× | 0.01× | ||
| Q2 25 | 0.00× | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | 0.00× | 0.00× | ||
| Q3 24 | 0.18× | 0.00× | ||
| Q2 24 | 0.30× | 0.00× | ||
| Q1 24 | 0.36× | 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 | $-51.4M | $5.7M |
| Free Cash FlowOCF − Capex | $-52.2M | — |
| FCF MarginFCF / Revenue | -60.3% | — |
| Capex IntensityCapex / Revenue | 0.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-51.4M | $5.7M | ||
| Q3 25 | $-53.5M | $53.4M | ||
| Q2 25 | $-19.9M | $11.1M | ||
| Q1 25 | $-30.2M | $3.9M | ||
| Q4 24 | $-50.7M | $30.6M | ||
| Q3 24 | $-4.9M | $31.4M | ||
| Q2 24 | $-30.2M | $39.1M | ||
| Q1 24 | $-15.5M | $50.6M |
| Q4 25 | $-52.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-20.0M | — | ||
| Q1 25 | $-31.0M | $-11.6M | ||
| Q4 24 | $-58.2M | — | ||
| Q3 24 | $-9.4M | — | ||
| Q2 24 | $-31.2M | — | ||
| Q1 24 | $-15.7M | — |
| Q4 25 | -60.3% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -37.6% | — | ||
| Q1 25 | -53.4% | -21.1% | ||
| Q4 24 | -125.7% | — | ||
| Q3 24 | -18.2% | — | ||
| Q2 24 | -63.2% | — | ||
| Q1 24 | -30.9% | — |
| Q4 25 | 0.9% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 1.3% | 28.2% | ||
| Q4 24 | 16.3% | — | ||
| Q3 24 | 8.7% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 0.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -15.80× | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | -0.52× | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALTI
| Management Advisory Fees | $51.1M | 59% |
| Other | $32.7M | 38% |
| Distributions From Investments | $2.9M | 3% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
