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Side-by-side financial comparison of Emerald Holding, Inc. (EEX) 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 $132.7M, roughly 1.6× Emerald Holding, Inc.). ONE Group Hospitality, Inc. runs the higher net margin — -3.1% vs -22.8%, a 19.7% gap on every dollar of revenue. On growth, Emerald Holding, Inc. posted the faster year-over-year revenue change (24.3% vs -6.7%). Emerald Holding, Inc. produced more free cash flow last quarter ($11.7M vs $-329.0K). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% CAGR vs -0.3%).
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
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.
EEX vs STKS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $132.7M | $207.0M |
| Net Profit | $-30.2M | $-6.4M |
| Gross Margin | — | — |
| Operating Margin | -11.8% | 2.2% |
| Net Margin | -22.8% | -3.1% |
| Revenue YoY | 24.3% | -6.7% |
| Net Profit YoY | -692.2% | -531.8% |
| EPS (diluted) | $-0.15 | $-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.
| Q4 25 | $132.7M | $207.0M | ||
| Q3 25 | $77.5M | $180.2M | ||
| Q2 25 | $105.5M | $207.4M | ||
| Q1 25 | $147.7M | $211.1M | ||
| Q4 24 | $106.8M | $221.9M | ||
| Q3 24 | $72.6M | $194.0M | ||
| Q2 24 | $86.0M | $172.5M | ||
| Q1 24 | $133.4M | $85.0M |
| Q4 25 | $-30.2M | $-6.4M | ||
| Q3 25 | $-14.4M | $-76.7M | ||
| Q2 25 | $-1.4M | $-10.1M | ||
| Q1 25 | $15.3M | $975.0K | ||
| Q4 24 | $5.1M | $1.5M | ||
| Q3 24 | $-11.1M | $-9.3M | ||
| Q2 24 | $-2.8M | $-7.3M | ||
| Q1 24 | $11.0M | $-2.1M |
| Q4 25 | -11.8% | 2.2% | ||
| Q3 25 | -10.1% | -4.4% | ||
| Q2 25 | 9.7% | 0.3% | ||
| Q1 25 | 24.2% | 5.1% | ||
| Q4 24 | 19.5% | 5.5% | ||
| Q3 24 | -6.5% | -1.9% | ||
| Q2 24 | 7.4% | 0.6% | ||
| Q1 24 | 18.2% | -0.7% |
| Q4 25 | -22.8% | -3.1% | ||
| Q3 25 | -18.6% | -42.6% | ||
| Q2 25 | -1.3% | -4.9% | ||
| Q1 25 | 10.4% | 0.5% | ||
| Q4 24 | 4.8% | 0.7% | ||
| Q3 24 | -15.3% | -4.8% | ||
| Q2 24 | -3.3% | -4.3% | ||
| Q1 24 | 8.2% | -2.4% |
| Q4 25 | $-0.15 | $-0.50 | ||
| Q3 25 | $-0.07 | $-2.75 | ||
| Q2 25 | $-0.01 | $-0.59 | ||
| Q1 25 | $0.08 | $-0.21 | ||
| Q4 24 | $0.01 | $-0.18 | ||
| Q3 24 | $-0.05 | $-0.53 | ||
| Q2 24 | $-0.03 | $-0.38 | ||
| Q1 24 | $0.00 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $100.9M | $4.2M |
| Total DebtLower is stronger | — | $354.2M |
| Stockholders' EquityBook value | $338.8M | $-75.8M |
| Total Assets | $1.2B | $884.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.9M | $4.2M | ||
| Q3 25 | $95.4M | $5.5M | ||
| Q2 25 | $156.4M | $4.7M | ||
| Q1 25 | $276.8M | $21.4M | ||
| Q4 24 | $194.8M | $27.6M | ||
| Q3 24 | $188.9M | $28.2M | ||
| Q2 24 | $193.2M | $32.2M | ||
| Q1 24 | $186.8M | $15.4M |
| Q4 25 | — | $354.2M | ||
| Q3 25 | — | $355.0M | ||
| Q2 25 | — | $347.4M | ||
| Q1 25 | — | $348.3M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M | ||
| Q1 24 | — | $73.5M |
| Q4 25 | $338.8M | $-75.8M | ||
| Q3 25 | $369.5M | $-61.5M | ||
| Q2 25 | $389.4M | $23.0M | ||
| Q1 25 | $392.1M | $40.5M | ||
| Q4 24 | $385.9M | $45.9M | ||
| Q3 24 | $391.1M | $51.4M | ||
| Q2 24 | $407.6M | $68.1M | ||
| Q1 24 | $-90.7M | $68.3M |
| Q4 25 | $1.2B | $884.2M | ||
| Q3 25 | $1.2B | $879.5M | ||
| Q2 25 | $1.2B | $935.7M | ||
| Q1 25 | $1.2B | $956.0M | ||
| Q4 24 | $1.0B | $960.1M | ||
| Q3 24 | $1.1B | $953.5M | ||
| Q2 24 | $1.1B | $945.9M | ||
| Q1 24 | $1.1B | $309.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 15.07× | ||
| Q1 25 | — | 8.61× | ||
| Q4 24 | — | 7.59× | ||
| Q3 24 | — | 6.79× | ||
| Q2 24 | — | 5.14× | ||
| Q1 24 | — | 1.08× |
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 | $12.3M | $13.1M |
| Free Cash FlowOCF − Capex | $11.7M | $-329.0K |
| FCF MarginFCF / Revenue | 8.8% | -0.2% |
| Capex IntensityCapex / Revenue | 0.5% | 6.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $41.4M | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.3M | $13.1M | ||
| Q3 25 | $1.8M | $5.9M | ||
| Q2 25 | $15.9M | $2.8M | ||
| Q1 25 | $12.6M | $8.5M | ||
| Q4 24 | $20.6M | $18.5M | ||
| Q3 24 | $9.1M | $19.1M | ||
| Q2 24 | $9.8M | $-3.8M | ||
| Q1 24 | $7.3M | $10.4M |
| Q4 25 | $11.7M | $-329.0K | ||
| Q3 25 | $1.5M | $-6.1M | ||
| Q2 25 | $15.8M | $-15.0M | ||
| Q1 25 | $12.4M | $-5.8M | ||
| Q4 24 | $19.9M | $733.0K | ||
| Q3 24 | $9.0M | $287.0K | ||
| Q2 24 | $9.6M | $-23.0M | ||
| Q1 24 | $7.0M | $-5.4M |
| Q4 25 | 8.8% | -0.2% | ||
| Q3 25 | 1.9% | -3.4% | ||
| Q2 25 | 15.0% | -7.2% | ||
| Q1 25 | 8.4% | -2.7% | ||
| Q4 24 | 18.6% | 0.3% | ||
| Q3 24 | 12.4% | 0.1% | ||
| Q2 24 | 11.2% | -13.3% | ||
| Q1 24 | 5.2% | -6.4% |
| Q4 25 | 0.5% | 6.5% | ||
| Q3 25 | 0.4% | 6.7% | ||
| Q2 25 | 0.1% | 8.6% | ||
| Q1 25 | 0.1% | 6.8% | ||
| Q4 24 | 0.7% | 8.0% | ||
| Q3 24 | 0.1% | 9.7% | ||
| Q2 24 | 0.2% | 11.1% | ||
| Q1 24 | 0.2% | 18.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.82× | 8.76× | ||
| Q4 24 | 4.04× | 12.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.66× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
