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Side-by-side financial comparison of AEMETIS, INC (AMTX) 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 $43.3M, roughly 1.7× AEMETIS, INC). On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs -7.9%). Over the past eight quarters, Target Hospitality Corp.'s revenue compounded faster (0.7% CAGR vs -22.8%).
Aemetis, Inc. is a renewable fuels and sustainable biochemicals producer operating across North America and India. Its core products include low-carbon ethanol, renewable natural gas and biodiesel, serving transportation, industrial and agricultural sectors with decarbonization solutions for commercial clients.
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.
AMTX vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.3M | $73.5M |
| Net Profit | — | $-14.9M |
| Gross Margin | 17.8% | 9.6% |
| Operating Margin | -5.7% | -22.9% |
| Net Margin | — | -20.3% |
| Revenue YoY | -7.9% | 22.0% |
| Net Profit YoY | — | -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 | $43.3M | $73.5M | ||
| Q3 25 | $59.2M | $91.6M | ||
| Q2 25 | $52.2M | $54.9M | ||
| Q1 25 | $42.9M | $54.9M | ||
| Q4 24 | $47.0M | $60.2M | ||
| Q3 24 | $81.4M | $65.8M | ||
| Q2 24 | $66.6M | $67.5M | ||
| Q1 24 | $72.6M | $72.4M |
| Q4 25 | — | $-14.9M | ||
| Q3 25 | $-23.7M | $-795.0K | ||
| Q2 25 | $-23.4M | $-14.9M | ||
| Q1 25 | $-24.5M | $-6.5M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | $-17.9M | $20.0M | ||
| Q2 24 | $-29.2M | $18.4M | ||
| Q1 24 | $-24.2M | $20.4M |
| Q4 25 | 17.8% | 9.6% | ||
| Q3 25 | -0.1% | 19.6% | ||
| Q2 25 | -6.4% | -0.6% | ||
| Q1 25 | -11.8% | 32.7% | ||
| Q4 24 | -4.3% | 61.5% | ||
| Q3 24 | 4.8% | 68.7% | ||
| Q2 24 | -2.7% | 69.4% | ||
| Q1 24 | -0.8% | 67.8% |
| Q4 25 | -5.7% | -22.9% | ||
| Q3 25 | -14.4% | 0.1% | ||
| Q2 25 | -20.4% | -30.8% | ||
| Q1 25 | -36.3% | -2.0% | ||
| Q4 24 | -28.7% | 34.5% | ||
| Q3 24 | -4.8% | 42.5% | ||
| Q2 24 | -20.4% | 43.8% | ||
| Q1 24 | -13.0% | 42.0% |
| Q4 25 | — | -20.3% | ||
| Q3 25 | -40.1% | -0.9% | ||
| Q2 25 | -44.8% | -27.2% | ||
| Q1 25 | -57.2% | -11.8% | ||
| Q4 24 | — | 20.8% | ||
| Q3 24 | -22.0% | 30.4% | ||
| Q2 24 | -43.8% | 27.2% | ||
| Q1 24 | -33.4% | 28.2% |
| Q4 25 | $-0.03 | $-0.14 | ||
| Q3 25 | $-0.37 | $-0.01 | ||
| Q2 25 | $-0.41 | $-0.15 | ||
| Q1 25 | $-0.47 | $-0.07 | ||
| Q4 24 | $-0.29 | $0.12 | ||
| Q3 24 | $-0.38 | $0.20 | ||
| Q2 24 | $-0.66 | $0.18 | ||
| Q1 24 | $-0.58 | $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 | $4.9M | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $-306.8M | $389.3M |
| Total Assets | $259.8M | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $8.3M | ||
| Q3 25 | $5.6M | $30.4M | ||
| Q2 25 | $1.6M | $19.2M | ||
| Q1 25 | $499.0K | $34.5M | ||
| Q4 24 | $898.0K | $190.7M | ||
| Q3 24 | $296.0K | $177.7M | ||
| Q2 24 | $234.0K | $154.3M | ||
| Q1 24 | $1.6M | $124.3M |
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | $338.1M | $1.5M | ||
| Q3 24 | $322.2M | $994.0K | ||
| Q2 24 | $309.0M | $1.1M | ||
| Q1 24 | $307.2M | $179.9M |
| Q4 25 | $-306.8M | $389.3M | ||
| Q3 25 | $-304.9M | $402.4M | ||
| Q2 25 | $-289.3M | $401.3M | ||
| Q1 25 | $-280.7M | $415.3M | ||
| Q4 24 | $-263.9M | $421.1M | ||
| Q3 24 | $-258.9M | $417.6M | ||
| Q2 24 | $-249.0M | $397.2M | ||
| Q1 24 | $-232.1M | $375.5M |
| Q4 25 | $259.8M | $530.2M | ||
| Q3 25 | $241.1M | $541.2M | ||
| Q2 25 | $240.0M | $533.7M | ||
| Q1 25 | $242.5M | $562.5M | ||
| Q4 24 | $259.3M | $725.8M | ||
| Q3 24 | $259.3M | $709.8M | ||
| Q2 24 | $259.3M | $697.0M | ||
| Q1 24 | $259.3M | $687.2M |
| Q4 25 | — | 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 | $5.8M | $5.7M |
| Free Cash FlowOCF − Capex | $-10.8M | — |
| FCF MarginFCF / Revenue | -24.9% | — |
| Capex IntensityCapex / Revenue | 38.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-22.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.8M | $5.7M | ||
| Q3 25 | $3.1M | $53.4M | ||
| Q2 25 | $-5.7M | $11.1M | ||
| Q1 25 | $160.0K | $3.9M | ||
| Q4 24 | $-12.6M | $30.6M | ||
| Q3 24 | $-5.0M | $31.4M | ||
| Q2 24 | $-5.1M | $39.1M | ||
| Q1 24 | $-10.3M | $50.6M |
| Q4 25 | $-10.8M | — | ||
| Q3 25 | $-1.0M | — | ||
| Q2 25 | $-9.3M | — | ||
| Q1 25 | $-1.7M | $-11.6M | ||
| Q4 24 | $-19.4M | — | ||
| Q3 24 | $-9.5M | — | ||
| Q2 24 | $-10.5M | — | ||
| Q1 24 | $-13.9M | — |
| Q4 25 | -24.9% | — | ||
| Q3 25 | -1.7% | — | ||
| Q2 25 | -17.7% | — | ||
| Q1 25 | -3.9% | -21.1% | ||
| Q4 24 | -41.2% | — | ||
| Q3 24 | -11.6% | — | ||
| Q2 24 | -15.8% | — | ||
| Q1 24 | -19.1% | — |
| Q4 25 | 38.2% | — | ||
| Q3 25 | 6.9% | — | ||
| Q2 25 | 6.7% | — | ||
| Q1 25 | 4.3% | 28.2% | ||
| Q4 24 | 14.4% | — | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | 8.1% | — | ||
| Q1 24 | 4.9% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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
AMTX
| Ethanol Sales | $28.8M | 66% |
| Wet Distillers Grains | $6.8M | 16% |
| California Dairy Renewable Natural Gas | $5.2M | 12% |
| Other | $1.8M | 4% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
