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Side-by-side financial comparison of BRANDYWINE REALTY TRUST (BDN) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
ONE Group Hospitality, Inc. is the larger business by last-quarter revenue ($207.0M vs $127.0M, roughly 1.6× BRANDYWINE REALTY TRUST). ONE Group Hospitality, Inc. runs the higher net margin — -3.1% vs -38.4%, a 35.3% gap on every dollar of revenue. On growth, BRANDYWINE REALTY TRUST posted the faster year-over-year revenue change (4.5% vs -6.7%). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% CAGR vs 0.7%).
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
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.
BDN vs STKS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.0M | $207.0M |
| Net Profit | $-48.8M | $-6.4M |
| Gross Margin | — | — |
| Operating Margin | 1.2% | 2.2% |
| Net Margin | -38.4% | -3.1% |
| Revenue YoY | 4.5% | -6.7% |
| Net Profit YoY | -80.4% | -531.8% |
| EPS (diluted) | $-0.28 | $-0.50 |
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 | $127.0M | — | ||
| Q4 25 | $121.0M | $207.0M | ||
| Q3 25 | $121.4M | $180.2M | ||
| Q2 25 | $120.6M | $207.4M | ||
| Q1 25 | $121.5M | $211.1M | ||
| Q4 24 | $121.9M | $221.9M | ||
| Q3 24 | $131.8M | $194.0M | ||
| Q2 24 | $125.3M | $172.5M |
| Q1 26 | $-48.8M | — | ||
| Q4 25 | $-36.7M | $-6.4M | ||
| Q3 25 | $-25.9M | $-76.7M | ||
| Q2 25 | $-88.7M | $-10.1M | ||
| Q1 25 | $-27.0M | $975.0K | ||
| Q4 24 | $-44.5M | $1.5M | ||
| Q3 24 | $-165.2M | $-9.3M | ||
| Q2 24 | $30.2M | $-7.3M |
| Q1 26 | — | — | ||
| Q4 25 | 61.3% | — | ||
| Q3 25 | 62.6% | — | ||
| Q2 25 | 62.4% | — | ||
| Q1 25 | 60.8% | — | ||
| Q4 24 | 61.2% | — | ||
| Q3 24 | 64.9% | — | ||
| Q2 24 | 63.1% | — |
| Q1 26 | 1.2% | — | ||
| Q4 25 | 22.8% | 2.2% | ||
| Q3 25 | 20.8% | -4.4% | ||
| Q2 25 | -34.3% | 0.3% | ||
| Q1 25 | 12.5% | 5.1% | ||
| Q4 24 | 18.0% | 5.5% | ||
| Q3 24 | -7.2% | -1.9% | ||
| Q2 24 | 15.5% | 0.6% |
| Q1 26 | -38.4% | — | ||
| Q4 25 | -30.3% | -3.1% | ||
| Q3 25 | -21.3% | -42.6% | ||
| Q2 25 | -73.5% | -4.9% | ||
| Q1 25 | -22.2% | 0.5% | ||
| Q4 24 | -36.5% | 0.7% | ||
| Q3 24 | -125.4% | -4.8% | ||
| Q2 24 | 24.1% | -4.3% |
| Q1 26 | $-0.28 | — | ||
| Q4 25 | $-0.21 | $-0.50 | ||
| Q3 25 | $-0.15 | $-2.75 | ||
| Q2 25 | $-0.51 | $-0.59 | ||
| Q1 25 | $-0.16 | $-0.21 | ||
| Q4 24 | $-0.25 | $-0.18 | ||
| Q3 24 | $-0.96 | $-0.53 | ||
| Q2 24 | $0.17 | $-0.38 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.2M | $4.2M |
| Total DebtLower is stronger | — | $354.2M |
| Stockholders' EquityBook value | — | $-75.8M |
| Total Assets | $3.6B | $884.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.2M | — | ||
| Q4 25 | $32.3M | $4.2M | ||
| Q3 25 | $75.5M | $5.5M | ||
| Q2 25 | $122.6M | $4.7M | ||
| Q1 25 | $29.4M | $21.4M | ||
| Q4 24 | $90.2M | $27.6M | ||
| Q3 24 | $36.5M | $28.2M | ||
| Q2 24 | $30.4M | $32.2M |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $354.2M | ||
| Q3 25 | $2.3B | $355.0M | ||
| Q2 25 | $2.3B | $347.4M | ||
| Q1 25 | $2.2B | $348.3M | ||
| Q4 24 | $2.2B | $348.3M | ||
| Q3 24 | $2.3B | $349.1M | ||
| Q2 24 | $2.2B | $350.0M |
| Q1 26 | — | — | ||
| Q4 25 | $792.7M | $-75.8M | ||
| Q3 25 | $841.5M | $-61.5M | ||
| Q2 25 | $879.8M | $23.0M | ||
| Q1 25 | $993.6M | $40.5M | ||
| Q4 24 | $1.0B | $45.9M | ||
| Q3 24 | $1.1B | $51.4M | ||
| Q2 24 | $1.3B | $68.1M |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $884.2M | ||
| Q3 25 | $3.3B | $879.5M | ||
| Q2 25 | $3.4B | $935.7M | ||
| Q1 25 | $3.4B | $956.0M | ||
| Q4 24 | $3.5B | $960.1M | ||
| Q3 24 | $3.6B | $953.5M | ||
| Q2 24 | $3.8B | $945.9M |
| Q1 26 | — | — | ||
| Q4 25 | 3.23× | — | ||
| Q3 25 | 2.70× | — | ||
| Q2 25 | 2.63× | 15.07× | ||
| Q1 25 | 2.23× | 8.61× | ||
| Q4 24 | 2.13× | 7.59× | ||
| Q3 24 | 2.06× | 6.79× | ||
| Q2 24 | 1.73× | 5.14× |
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 | — | $13.1M |
| Free Cash FlowOCF − Capex | — | $-329.0K |
| FCF MarginFCF / Revenue | — | -0.2% |
| Capex IntensityCapex / Revenue | — | 6.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $116.7M | $13.1M | ||
| Q3 25 | $47.5M | $5.9M | ||
| Q2 25 | $34.4M | $2.8M | ||
| Q1 25 | $6.3M | $8.5M | ||
| Q4 24 | $181.1M | $18.5M | ||
| Q3 24 | $52.2M | $19.1M | ||
| Q2 24 | $48.2M | $-3.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-329.0K | ||
| Q3 25 | — | $-6.1M | ||
| Q2 25 | — | $-15.0M | ||
| Q1 25 | — | $-5.8M | ||
| Q4 24 | — | $733.0K | ||
| Q3 24 | — | $287.0K | ||
| Q2 24 | — | $-23.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.2% | ||
| Q3 25 | — | -3.4% | ||
| Q2 25 | — | -7.2% | ||
| Q1 25 | — | -2.7% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | -13.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | — | 9.7% | ||
| Q2 24 | — | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 8.76× | ||
| Q4 24 | — | 12.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.60× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDN
| Rents | $120.7M | 95% |
| Third party management fees, labor reimbursement and leasing | $4.7M | 4% |
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
