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Side-by-side financial comparison of First Foundation Inc. (FFWM) 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 $48.4M, roughly 1.5× First Foundation Inc.). Target Hospitality Corp. runs the higher net margin — -20.3% vs -97.9%, a 77.5% gap on every dollar of revenue. On growth, First Foundation Inc. posted the faster year-over-year revenue change (421.7% vs 22.0%). Over the past eight quarters, Target Hospitality Corp.'s revenue compounded faster (0.7% CAGR vs -2.7%).
John B. Lacson Colleges Foundation (Bacolod), Inc. is a private maritime college in Bacolod, Negros Occidental, Philippines.
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.
FFWM vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $48.4M | $73.5M |
| Net Profit | $-8.0M | $-14.9M |
| Gross Margin | — | 9.6% |
| Operating Margin | -97.5% | -22.9% |
| Net Margin | -97.9% | -20.3% |
| Revenue YoY | 421.7% | 22.0% |
| Net Profit YoY | 43.0% | -219.1% |
| EPS (diluted) | $-0.09 | $-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 | $48.4M | $73.5M | ||
| Q3 25 | $63.6M | $91.6M | ||
| Q2 25 | $51.4M | $54.9M | ||
| Q1 25 | $71.4M | $54.9M | ||
| Q4 24 | $9.3M | $60.2M | ||
| Q3 24 | $9.2M | $65.8M | ||
| Q2 24 | $57.5M | $67.5M | ||
| Q1 24 | $51.1M | $72.4M |
| Q4 25 | $-8.0M | $-14.9M | ||
| Q3 25 | $-146.3M | $-795.0K | ||
| Q2 25 | $-7.7M | $-14.9M | ||
| Q1 25 | $6.9M | $-6.5M | ||
| Q4 24 | $-14.1M | $12.5M | ||
| Q3 24 | $-82.2M | $20.0M | ||
| Q2 24 | $3.1M | $18.4M | ||
| Q1 24 | $793.0K | $20.4M |
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | -0.6% | ||
| Q1 25 | — | 32.7% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 68.7% | ||
| Q2 24 | — | 69.4% | ||
| Q1 24 | — | 67.8% |
| Q4 25 | -97.5% | -22.9% | ||
| Q3 25 | -92.7% | 0.1% | ||
| Q2 25 | -21.1% | -30.8% | ||
| Q1 25 | 8.8% | -2.0% | ||
| Q4 24 | -247.7% | 34.5% | ||
| Q3 24 | -1276.7% | 42.5% | ||
| Q2 24 | 4.6% | 43.8% | ||
| Q1 24 | -0.2% | 42.0% |
| Q4 25 | -97.9% | -20.3% | ||
| Q3 25 | -230.1% | -0.9% | ||
| Q2 25 | -15.0% | -27.2% | ||
| Q1 25 | 9.7% | -11.8% | ||
| Q4 24 | -152.2% | 20.8% | ||
| Q3 24 | -896.9% | 30.4% | ||
| Q2 24 | 5.4% | 27.2% | ||
| Q1 24 | 1.6% | 28.2% |
| Q4 25 | $-0.09 | $-0.14 | ||
| Q3 25 | $-1.78 | $-0.01 | ||
| Q2 25 | $-0.09 | $-0.15 | ||
| Q1 25 | $0.08 | $-0.07 | ||
| Q4 24 | $-0.24 | $0.12 | ||
| Q3 24 | $-1.23 | $0.20 | ||
| Q2 24 | $0.05 | $0.18 | ||
| Q1 24 | $0.01 | $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 | $1.6B | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $912.6M | $389.3M |
| Total Assets | $11.9B | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $8.3M | ||
| Q3 25 | $1.7B | $30.4M | ||
| Q2 25 | $1.1B | $19.2M | ||
| Q1 25 | $1.0B | $34.5M | ||
| Q4 24 | $1.0B | $190.7M | ||
| Q3 24 | $1.1B | $177.7M | ||
| Q2 24 | $1.4B | $154.3M | ||
| Q1 24 | $1.6B | $124.3M |
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $912.6M | $389.3M | ||
| Q3 25 | $917.9M | $402.4M | ||
| Q2 25 | $1.1B | $401.3M | ||
| Q1 25 | $1.1B | $415.3M | ||
| Q4 24 | $1.1B | $421.1M | ||
| Q3 24 | $1.1B | $417.6M | ||
| Q2 24 | $933.2M | $397.2M | ||
| Q1 24 | $928.7M | $375.5M |
| Q4 25 | $11.9B | $530.2M | ||
| Q3 25 | $11.9B | $541.2M | ||
| Q2 25 | $11.6B | $533.7M | ||
| Q1 25 | $12.6B | $562.5M | ||
| Q4 24 | $12.6B | $725.8M | ||
| Q3 24 | $13.4B | $709.8M | ||
| Q2 24 | $13.7B | $697.0M | ||
| Q1 24 | $13.6B | $687.2M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 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 | $-31.9M | $5.7M |
| Free Cash FlowOCF − Capex | $-35.2M | — |
| FCF MarginFCF / Revenue | -72.8% | — |
| Capex IntensityCapex / Revenue | 6.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-45.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-31.9M | $5.7M | ||
| Q3 25 | $9.2M | $53.4M | ||
| Q2 25 | $-16.3M | $11.1M | ||
| Q1 25 | $-552.0K | $3.9M | ||
| Q4 24 | $-8.7M | $30.6M | ||
| Q3 24 | $14.2M | $31.4M | ||
| Q2 24 | $-9.1M | $39.1M | ||
| Q1 24 | $7.2M | $50.6M |
| Q4 25 | $-35.2M | — | ||
| Q3 25 | $8.6M | — | ||
| Q2 25 | $-16.7M | — | ||
| Q1 25 | $-2.5M | $-11.6M | ||
| Q4 24 | $-11.4M | — | ||
| Q3 24 | $13.4M | — | ||
| Q2 24 | $-9.4M | — | ||
| Q1 24 | $5.9M | — |
| Q4 25 | -72.8% | — | ||
| Q3 25 | 13.5% | — | ||
| Q2 25 | -32.4% | — | ||
| Q1 25 | -3.5% | -21.1% | ||
| Q4 24 | -123.5% | — | ||
| Q3 24 | 146.2% | — | ||
| Q2 24 | -16.3% | — | ||
| Q1 24 | 11.6% | — |
| Q4 25 | 6.9% | — | ||
| Q3 25 | 1.0% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 2.8% | 28.2% | ||
| Q4 24 | 29.4% | — | ||
| Q3 24 | 9.0% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 2.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | -2.96× | 2.13× | ||
| Q1 24 | 9.09× | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FFWM
Segment breakdown not available.
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
