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Side-by-side financial comparison of CBAK Energy Technology, Inc. (CBAT) 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 $58.8M, roughly 1.2× CBAK Energy Technology, Inc.). CBAK Energy Technology, Inc. runs the higher net margin — -12.5% vs -20.3%, a 7.8% gap on every dollar of revenue. On growth, CBAK Energy Technology, Inc. posted the faster year-over-year revenue change (131.8% vs 22.0%). Over the past eight quarters, Target Hospitality Corp.'s revenue compounded faster (0.7% CAGR vs -0.0%).
CBAK Energy Technology, Inc. is a global supplier of lithium-ion battery products including high-performance cells, modules and battery packs. It serves key segments such as electric vehicles, stationary energy storage systems and consumer electronics, with core operations in China and a worldwide customer base.
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.
CBAT vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $58.8M | $73.5M |
| Net Profit | $-7.4M | $-14.9M |
| Gross Margin | 7.3% | 9.6% |
| Operating Margin | -13.6% | -22.9% |
| Net Margin | -12.5% | -20.3% |
| Revenue YoY | 131.8% | 22.0% |
| Net Profit YoY | -63.6% | -219.1% |
| EPS (diluted) | $-0.08 | $-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 | $58.8M | $73.5M | ||
| Q3 25 | $60.9M | $91.6M | ||
| Q2 25 | $40.5M | $54.9M | ||
| Q1 25 | $34.9M | $54.9M | ||
| Q4 24 | $25.4M | $60.2M | ||
| Q3 24 | $44.6M | $65.8M | ||
| Q2 24 | $47.8M | $67.5M | ||
| Q1 24 | $58.8M | $72.4M |
| Q4 25 | $-7.4M | $-14.9M | ||
| Q3 25 | $2.7M | $-795.0K | ||
| Q2 25 | $-3.1M | $-14.9M | ||
| Q1 25 | $-1.6M | $-6.5M | ||
| Q4 24 | $-4.5M | $12.5M | ||
| Q3 24 | $17.6K | $20.0M | ||
| Q2 24 | $6.4M | $18.4M | ||
| Q1 24 | $9.8M | $20.4M |
| Q4 25 | 7.3% | 9.6% | ||
| Q3 25 | 8.0% | 19.6% | ||
| Q2 25 | 11.0% | -0.6% | ||
| Q1 25 | 13.7% | 32.7% | ||
| Q4 24 | 13.1% | 61.5% | ||
| Q3 24 | 15.6% | 68.7% | ||
| Q2 24 | 26.6% | 69.4% | ||
| Q1 24 | 31.9% | 67.8% |
| Q4 25 | -13.6% | -22.9% | ||
| Q3 25 | -6.6% | 0.1% | ||
| Q2 25 | -8.7% | -30.8% | ||
| Q1 25 | -8.2% | -2.0% | ||
| Q4 24 | -26.0% | 34.5% | ||
| Q3 24 | -1.9% | 42.5% | ||
| Q2 24 | 12.4% | 43.8% | ||
| Q1 24 | 17.4% | 42.0% |
| Q4 25 | -12.5% | -20.3% | ||
| Q3 25 | 4.4% | -0.9% | ||
| Q2 25 | -7.6% | -27.2% | ||
| Q1 25 | -4.5% | -11.8% | ||
| Q4 24 | -17.8% | 20.8% | ||
| Q3 24 | 0.0% | 30.4% | ||
| Q2 24 | 13.5% | 27.2% | ||
| Q1 24 | 16.7% | 28.2% |
| Q4 25 | $-0.08 | $-0.14 | ||
| Q3 25 | $0.03 | $-0.01 | ||
| Q2 25 | $-0.03 | $-0.15 | ||
| Q1 25 | $-0.02 | $-0.07 | ||
| Q4 24 | $-0.05 | $0.12 | ||
| Q3 24 | $0.00 | $0.20 | ||
| Q2 24 | $0.07 | $0.18 | ||
| Q1 24 | $0.11 | $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 | $8.3M | $8.3M |
| Total DebtLower is stronger | $4.1M | $1.7M |
| Stockholders' EquityBook value | $112.7M | $389.3M |
| Total Assets | $426.2M | $530.2M |
| Debt / EquityLower = less leverage | 0.04× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.3M | $8.3M | ||
| Q3 25 | $10.5M | $30.4M | ||
| Q2 25 | $45.7M | $19.2M | ||
| Q1 25 | $9.6M | $34.5M | ||
| Q4 24 | $11.0M | $190.7M | ||
| Q3 24 | $24.2M | $177.7M | ||
| Q2 24 | $44.1M | $154.3M | ||
| Q1 24 | $23.8M | $124.3M |
| Q4 25 | $4.1M | $1.7M | ||
| Q3 25 | $4.8M | $2.0M | ||
| Q2 25 | $4.9M | $26.3M | ||
| Q1 25 | $4.1M | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $112.7M | $389.3M | ||
| Q3 25 | $121.4M | $402.4M | ||
| Q2 25 | $118.2M | $401.3M | ||
| Q1 25 | $120.8M | $415.3M | ||
| Q4 24 | $121.7M | $421.1M | ||
| Q3 24 | $131.2M | $417.6M | ||
| Q2 24 | $126.6M | $397.2M | ||
| Q1 24 | $120.9M | $375.5M |
| Q4 25 | $426.2M | $530.2M | ||
| Q3 25 | $363.9M | $541.2M | ||
| Q2 25 | $333.1M | $533.7M | ||
| Q1 25 | $311.5M | $562.5M | ||
| Q4 24 | $302.2M | $725.8M | ||
| Q3 24 | $293.5M | $709.8M | ||
| Q2 24 | $279.6M | $697.0M | ||
| Q1 24 | $286.5M | $687.2M |
| Q4 25 | 0.04× | 0.00× | ||
| Q3 25 | 0.04× | 0.01× | ||
| Q2 25 | 0.04× | 0.07× | ||
| Q1 25 | 0.03× | 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 | $29.8M | $5.7M |
| Free Cash FlowOCF − Capex | $16.1M | — |
| FCF MarginFCF / Revenue | 27.3% | — |
| Capex IntensityCapex / Revenue | 23.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $3.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.8M | $5.7M | ||
| Q3 25 | $14.6M | $53.4M | ||
| Q2 25 | $13.8M | $11.1M | ||
| Q1 25 | $-9.6M | $3.9M | ||
| Q4 24 | $9.6M | $30.6M | ||
| Q3 24 | $19.7M | $31.4M | ||
| Q2 24 | $2.9M | $39.1M | ||
| Q1 24 | $7.4M | $50.6M |
| Q4 25 | $16.1M | — | ||
| Q3 25 | $6.0M | — | ||
| Q2 25 | $4.1M | — | ||
| Q1 25 | $-22.3M | $-11.6M | ||
| Q4 24 | $3.9M | — | ||
| Q3 24 | $16.5M | — | ||
| Q2 24 | $2.5M | — | ||
| Q1 24 | $-454.0K | — |
| Q4 25 | 27.3% | — | ||
| Q3 25 | 9.9% | — | ||
| Q2 25 | 10.2% | — | ||
| Q1 25 | -63.9% | -21.1% | ||
| Q4 24 | 15.5% | — | ||
| Q3 24 | 37.1% | — | ||
| Q2 24 | 5.2% | — | ||
| Q1 24 | -0.8% | — |
| Q4 25 | 23.4% | — | ||
| Q3 25 | 14.1% | — | ||
| Q2 25 | 23.8% | — | ||
| Q1 25 | 36.3% | 28.2% | ||
| Q4 24 | 22.5% | — | ||
| Q3 24 | 7.0% | — | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | 13.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | 5.51× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | 1115.72× | 1.57× | ||
| Q2 24 | 0.46× | 2.13× | ||
| Q1 24 | 0.76× | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBAT
| Manufacturing Lithium Batteries | $28.0M | 48% |
| Residential Energy Supply And Uninterruptable Supplies | $17.8M | 30% |
| Light Electric Vehicles | $12.9M | 22% |
| Precursor | $108.0K | 0% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
