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Side-by-side financial comparison of Chatham Lodging Trust (CLDT) 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 $67.7M, roughly 1.1× Chatham Lodging Trust). Chatham Lodging Trust runs the higher net margin — 6.8% vs -20.3%, a 27.1% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs -9.8%). Over the past eight quarters, Target Hospitality Corp.'s revenue compounded faster (0.7% CAGR vs -0.5%).
Chatham Lodging Trust is a publicly traded real estate investment trust that invests in, owns, and operates upscale extended-stay and select-service premium hotel properties primarily across high-demand urban and suburban markets in the United States. Its portfolio targets assets with strong occupancy rates and steady cash flow from business and leisure traveler segments.
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.
CLDT vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $67.7M | $73.5M |
| Net Profit | $4.6M | $-14.9M |
| Gross Margin | — | 9.6% |
| Operating Margin | 15.9% | -22.9% |
| Net Margin | 6.8% | -20.3% |
| Revenue YoY | -9.8% | 22.0% |
| Net Profit YoY | 369.9% | -219.1% |
| EPS (diluted) | $0.05 | $-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 | $67.7M | $73.5M | ||
| Q3 25 | $78.4M | $91.6M | ||
| Q2 25 | $80.3M | $54.9M | ||
| Q1 25 | $68.6M | $54.9M | ||
| Q4 24 | $75.1M | $60.2M | ||
| Q3 24 | $87.2M | $65.8M | ||
| Q2 24 | $86.5M | $67.5M | ||
| Q1 24 | $68.4M | $72.4M |
| Q4 25 | $4.6M | $-14.9M | ||
| Q3 25 | $3.5M | $-795.0K | ||
| Q2 25 | $5.4M | $-14.9M | ||
| Q1 25 | $1.5M | $-6.5M | ||
| Q4 24 | $-1.7M | $12.5M | ||
| Q3 24 | $4.3M | $20.0M | ||
| Q2 24 | $6.8M | $18.4M | ||
| Q1 24 | $-5.2M | $20.4M |
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | -0.6% | ||
| Q1 25 | — | 32.7% | ||
| Q4 24 | 40.7% | 61.5% | ||
| Q3 24 | 44.7% | 68.7% | ||
| Q2 24 | 46.1% | 69.4% | ||
| Q1 24 | 38.9% | 67.8% |
| Q4 25 | 15.9% | -22.9% | ||
| Q3 25 | 12.7% | 0.1% | ||
| Q2 25 | 14.8% | -30.8% | ||
| Q1 25 | 12.1% | -2.0% | ||
| Q4 24 | 7.5% | 34.5% | ||
| Q3 24 | 14.3% | 42.5% | ||
| Q2 24 | 16.3% | 43.8% | ||
| Q1 24 | 1.4% | 42.0% |
| Q4 25 | 6.8% | -20.3% | ||
| Q3 25 | 4.5% | -0.9% | ||
| Q2 25 | 6.7% | -27.2% | ||
| Q1 25 | 2.2% | -11.8% | ||
| Q4 24 | -2.3% | 20.8% | ||
| Q3 24 | 4.9% | 30.4% | ||
| Q2 24 | 7.9% | 27.2% | ||
| Q1 24 | -7.6% | 28.2% |
| Q4 25 | $0.05 | $-0.14 | ||
| Q3 25 | $0.03 | $-0.01 | ||
| Q2 25 | $0.07 | $-0.15 | ||
| Q1 25 | $-0.01 | $-0.07 | ||
| Q4 24 | $-0.08 | $0.12 | ||
| Q3 24 | $0.05 | $0.20 | ||
| Q2 24 | $0.10 | $0.18 | ||
| Q1 24 | $-0.15 | $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 | $24.4M | $8.3M |
| Total DebtLower is stronger | $338.9M | $1.7M |
| Stockholders' EquityBook value | $740.8M | $389.3M |
| Total Assets | $1.2B | $530.2M |
| Debt / EquityLower = less leverage | 0.46× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.4M | $8.3M | ||
| Q3 25 | $13.2M | $30.4M | ||
| Q2 25 | $17.2M | $19.2M | ||
| Q1 25 | $18.6M | $34.5M | ||
| Q4 24 | $20.2M | $190.7M | ||
| Q3 24 | $19.3M | $177.7M | ||
| Q2 24 | $10.6M | $154.3M | ||
| Q1 24 | $72.3M | $124.3M |
| Q4 25 | $338.9M | $1.7M | ||
| Q3 25 | $338.8M | $2.0M | ||
| Q2 25 | $351.2M | $26.3M | ||
| Q1 25 | $381.1M | $42.9M | ||
| Q4 24 | $406.9M | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $740.8M | $389.3M | ||
| Q3 25 | $749.4M | $402.4M | ||
| Q2 25 | $754.1M | $401.3M | ||
| Q1 25 | $754.7M | $415.3M | ||
| Q4 24 | $758.2M | $421.1M | ||
| Q3 24 | $765.3M | $417.6M | ||
| Q2 24 | $766.5M | $397.2M | ||
| Q1 24 | $765.0M | $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 | $1.3B | $709.8M | ||
| Q2 24 | $1.3B | $697.0M | ||
| Q1 24 | $1.3B | $687.2M |
| Q4 25 | 0.46× | 0.00× | ||
| Q3 25 | 0.45× | 0.01× | ||
| Q2 25 | 0.47× | 0.07× | ||
| Q1 25 | 0.50× | 0.10× | ||
| Q4 24 | 0.54× | 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 | $64.1M | $5.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 13.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.1M | $5.7M | ||
| Q3 25 | $25.6M | $53.4M | ||
| Q2 25 | $22.1M | $11.1M | ||
| Q1 25 | $4.2M | $3.9M | ||
| Q4 24 | $73.8M | $30.6M | ||
| Q3 24 | $28.8M | $31.4M | ||
| Q2 24 | $25.2M | $39.1M | ||
| Q1 24 | $6.9M | $50.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-11.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -21.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 28.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 13.90× | — | ||
| Q3 25 | 7.24× | — | ||
| Q2 25 | 4.10× | — | ||
| Q1 25 | 2.73× | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | 6.78× | 1.57× | ||
| Q2 24 | 3.68× | 2.13× | ||
| Q1 24 | — | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLDT
| Occupancy | $61.5M | 91% |
| Hotel Other | $4.2M | 6% |
| Food And Beverage | $1.8M | 3% |
| Hotel | $1.1M | 2% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
