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Side-by-side financial comparison of Broadstone Net Lease, Inc. (BNL) 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 $121.4M, roughly 1.7× Broadstone Net Lease, Inc.). Broadstone Net Lease, Inc. runs the higher net margin — 38.2% vs -3.1%, a 41.3% gap on every dollar of revenue. On growth, Broadstone Net Lease, Inc. posted the faster year-over-year revenue change (11.7% vs -6.7%). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% CAGR vs 7.1%).
Broadstone Net Lease, Inc. is a real estate investment trust (REIT) that acquires, owns, and manages a diversified portfolio of single-tenant commercial real estate assets across the United States. Its portfolio covers key segments including industrial facilities, healthcare properties, retail locations, and office spaces, all leased to tenants under long-term net lease agreements.
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.
BNL vs STKS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $121.4M | $207.0M |
| Net Profit | $46.4M | $-6.4M |
| Gross Margin | — | — |
| Operating Margin | 52.2% | 2.2% |
| Net Margin | 38.2% | -3.1% |
| Revenue YoY | 11.7% | -6.7% |
| Net Profit YoY | — | -531.8% |
| EPS (diluted) | $0.24 | $-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 | $121.4M | — | ||
| Q4 25 | $118.3M | $207.0M | ||
| Q3 25 | $114.2M | $180.2M | ||
| Q2 25 | $113.0M | $207.4M | ||
| Q1 25 | $108.7M | $211.1M | ||
| Q4 24 | $112.1M | $221.9M | ||
| Q3 24 | $108.4M | $194.0M | ||
| Q2 24 | $105.9M | $172.5M |
| Q1 26 | $46.4M | — | ||
| Q4 25 | $33.1M | $-6.4M | ||
| Q3 25 | $26.5M | $-76.7M | ||
| Q2 25 | $20.2M | $-10.1M | ||
| Q1 25 | $16.7M | $975.0K | ||
| Q4 24 | $26.4M | $1.5M | ||
| Q3 24 | $35.6M | $-9.3M | ||
| Q2 24 | $35.3M | $-7.3M |
| Q1 26 | 52.2% | — | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | -4.4% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 5.1% | ||
| Q4 24 | — | 5.5% | ||
| Q3 24 | — | -1.9% | ||
| Q2 24 | — | 0.6% |
| Q1 26 | 38.2% | — | ||
| Q4 25 | 28.0% | -3.1% | ||
| Q3 25 | 23.2% | -42.6% | ||
| Q2 25 | 17.8% | -4.9% | ||
| Q1 25 | 15.4% | 0.5% | ||
| Q4 24 | 23.5% | 0.7% | ||
| Q3 24 | 32.8% | -4.8% | ||
| Q2 24 | 33.4% | -4.3% |
| Q1 26 | $0.24 | — | ||
| Q4 25 | $0.17 | $-0.50 | ||
| Q3 25 | $0.14 | $-2.75 | ||
| Q2 25 | $0.10 | $-0.59 | ||
| Q1 25 | $0.09 | $-0.21 | ||
| Q4 24 | $0.13 | $-0.18 | ||
| Q3 24 | $0.19 | $-0.53 | ||
| Q2 24 | $0.19 | $-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 | $20.3M | $4.2M |
| Total DebtLower is stronger | — | $354.2M |
| Stockholders' EquityBook value | $3.0B | $-75.8M |
| Total Assets | $5.8B | $884.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $20.3M | — | ||
| Q4 25 | $30.5M | $4.2M | ||
| Q3 25 | $82.0M | $5.5M | ||
| Q2 25 | $20.8M | $4.7M | ||
| Q1 25 | $9.6M | $21.4M | ||
| Q4 24 | $14.8M | $27.6M | ||
| Q3 24 | $9.0M | $28.2M | ||
| Q2 24 | $18.3M | $32.2M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $354.2M | ||
| Q3 25 | $2.4B | $355.0M | ||
| Q2 25 | $2.1B | $347.4M | ||
| Q1 25 | $2.0B | $348.3M | ||
| Q4 24 | $1.9B | $348.3M | ||
| Q3 24 | $2.0B | $349.1M | ||
| Q2 24 | $1.9B | $350.0M |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.9B | $-75.8M | ||
| Q3 25 | $2.9B | $-61.5M | ||
| Q2 25 | $2.9B | $23.0M | ||
| Q1 25 | $2.9B | $40.5M | ||
| Q4 24 | $3.0B | $45.9M | ||
| Q3 24 | $3.0B | $51.4M | ||
| Q2 24 | $3.1B | $68.1M |
| Q1 26 | $5.8B | — | ||
| Q4 25 | $5.7B | $884.2M | ||
| Q3 25 | $5.5B | $879.5M | ||
| Q2 25 | $5.3B | $935.7M | ||
| Q1 25 | $5.2B | $956.0M | ||
| Q4 24 | $5.2B | $960.1M | ||
| Q3 24 | $5.3B | $953.5M | ||
| Q2 24 | $5.3B | $945.9M |
| Q1 26 | — | — | ||
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.73× | 15.07× | ||
| Q1 25 | 0.68× | 8.61× | ||
| Q4 24 | 0.64× | 7.59× | ||
| Q3 24 | 0.65× | 6.79× | ||
| Q2 24 | 0.62× | 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 | $299.5M | $13.1M | ||
| Q3 25 | $64.2M | $5.9M | ||
| Q2 25 | $79.3M | $2.8M | ||
| Q1 25 | $71.5M | $8.5M | ||
| Q4 24 | $276.3M | $18.5M | ||
| Q3 24 | $67.3M | $19.1M | ||
| Q2 24 | $74.2M | $-3.8M |
| Q1 26 | — | — | ||
| Q4 25 | $269.8M | $-329.0K | ||
| Q3 25 | $58.0M | $-6.1M | ||
| Q2 25 | $76.7M | $-15.0M | ||
| Q1 25 | $57.1M | $-5.8M | ||
| Q4 24 | $259.5M | $733.0K | ||
| Q3 24 | $60.3M | $287.0K | ||
| Q2 24 | $74.0M | $-23.0M |
| Q1 26 | — | — | ||
| Q4 25 | 228.1% | -0.2% | ||
| Q3 25 | 50.8% | -3.4% | ||
| Q2 25 | 67.9% | -7.2% | ||
| Q1 25 | 52.5% | -2.7% | ||
| Q4 24 | 231.4% | 0.3% | ||
| Q3 24 | 55.6% | 0.1% | ||
| Q2 24 | 69.9% | -13.3% |
| Q1 26 | — | — | ||
| Q4 25 | 25.1% | 6.5% | ||
| Q3 25 | 5.4% | 6.7% | ||
| Q2 25 | 2.3% | 8.6% | ||
| Q1 25 | 13.2% | 6.8% | ||
| Q4 24 | 15.0% | 8.0% | ||
| Q3 24 | 6.5% | 9.7% | ||
| Q2 24 | 0.2% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | 9.04× | — | ||
| Q3 25 | 2.43× | — | ||
| Q2 25 | 3.93× | — | ||
| Q1 25 | 4.27× | 8.76× | ||
| Q4 24 | 10.47× | 12.54× | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 2.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BNL
Segment breakdown not available.
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
