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Side-by-side financial comparison of Global Medical REIT Inc. (GMRE) 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 $38.4M, roughly 1.9× Global Medical REIT Inc.). Global Medical REIT Inc. runs the higher net margin — -16.0% vs -20.3%, a 4.3% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 9.2%). Over the past eight quarters, Global Medical REIT Inc.'s revenue compounded faster (4.6% CAGR vs 0.7%).
Medical Properties Trust, Inc. (MPT) is an international real estate investment trust (REIT) based in Birmingham, Alabama that purchases and invests in healthcare facilities and for-profit healthcare holding companies, primarily in the United States and Europe. Their property acquisitions often come in the form of sale-leaseback agreements, in which the original property owner sells the property to MPT and becomes their tenant. MPT's tenants are generally subject to long-term triple net lease...
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.
GMRE vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $38.4M | $73.5M |
| Net Profit | $-6.1M | $-14.9M |
| Gross Margin | — | 9.6% |
| Operating Margin | — | -22.9% |
| Net Margin | -16.0% | -20.3% |
| Revenue YoY | 9.2% | 22.0% |
| Net Profit YoY | -309.2% | -219.1% |
| EPS (diluted) | $-0.48 | $-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 | $38.4M | $73.5M | ||
| Q3 25 | $37.2M | $91.6M | ||
| Q2 25 | $38.0M | $54.9M | ||
| Q1 25 | $34.6M | $54.9M | ||
| Q4 24 | $35.2M | $60.2M | ||
| Q3 24 | $34.3M | $65.8M | ||
| Q2 24 | $34.2M | $67.5M | ||
| Q1 24 | $35.1M | $72.4M |
| Q4 25 | $-6.1M | $-14.9M | ||
| Q3 25 | $-5.1M | $-795.0K | ||
| Q2 25 | $585.0K | $-14.9M | ||
| Q1 25 | $3.7M | $-6.5M | ||
| Q4 24 | $2.9M | $12.5M | ||
| Q3 24 | $3.4M | $20.0M | ||
| Q2 24 | $-2.0M | $18.4M | ||
| Q1 24 | $2.3M | $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 | — | -22.9% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | -30.8% | ||
| Q1 25 | — | -2.0% | ||
| Q4 24 | — | 34.5% | ||
| Q3 24 | — | 42.5% | ||
| Q2 24 | — | 43.8% | ||
| Q1 24 | — | 42.0% |
| Q4 25 | -16.0% | -20.3% | ||
| Q3 25 | -13.6% | -0.9% | ||
| Q2 25 | 1.5% | -27.2% | ||
| Q1 25 | 10.8% | -11.8% | ||
| Q4 24 | 8.4% | 20.8% | ||
| Q3 24 | 9.9% | 30.4% | ||
| Q2 24 | -5.7% | 27.2% | ||
| Q1 24 | 6.6% | 28.2% |
| Q4 25 | $-0.48 | $-0.14 | ||
| Q3 25 | $-0.45 | $-0.01 | ||
| Q2 25 | $-0.01 | $-0.15 | ||
| Q1 25 | $0.03 | $-0.07 | ||
| Q4 24 | $-0.04 | $0.12 | ||
| Q3 24 | $0.14 | $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 | $9.1M | $8.3M |
| Total DebtLower is stronger | $1.2M | $1.7M |
| Stockholders' EquityBook value | $509.8M | $389.3M |
| Total Assets | $1.2B | $530.2M |
| Debt / EquityLower = less leverage | 0.00× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.1M | $8.3M | ||
| Q3 25 | $7.1M | $30.4M | ||
| Q2 25 | $6.6M | $19.2M | ||
| Q1 25 | $5.4M | $34.5M | ||
| Q4 24 | $6.8M | $190.7M | ||
| Q3 24 | $5.7M | $177.7M | ||
| Q2 24 | $5.0M | $154.3M | ||
| Q1 24 | $1.3M | $124.3M |
| Q4 25 | $1.2M | $1.7M | ||
| Q3 25 | $1.2M | $2.0M | ||
| Q2 25 | $14.2M | $26.3M | ||
| Q1 25 | $14.3M | $42.9M | ||
| Q4 24 | $14.4M | $1.5M | ||
| Q3 24 | $14.5M | $994.0K | ||
| Q2 24 | $14.7M | $1.1M | ||
| Q1 24 | $25.7M | $179.9M |
| Q4 25 | $509.8M | $389.3M | ||
| Q3 25 | $485.3M | $402.4M | ||
| Q2 25 | $503.2M | $401.3M | ||
| Q1 25 | $517.4M | $415.3M | ||
| Q4 24 | $534.1M | $421.1M | ||
| Q3 24 | $542.6M | $417.6M | ||
| Q2 24 | $556.4M | $397.2M | ||
| Q1 24 | $575.0M | $375.5M |
| Q4 25 | $1.2B | $530.2M | ||
| Q3 25 | $1.3B | $541.2M | ||
| Q2 25 | $1.3B | $533.7M | ||
| Q1 25 | $1.3B | $562.5M | ||
| Q4 24 | $1.3B | $725.8M | ||
| Q3 24 | $1.2B | $709.8M | ||
| Q2 24 | $1.2B | $697.0M | ||
| Q1 24 | $1.3B | $687.2M |
| Q4 25 | 0.00× | 0.00× | ||
| Q3 25 | 0.00× | 0.01× | ||
| Q2 25 | 0.03× | 0.07× | ||
| Q1 25 | 0.03× | 0.10× | ||
| Q4 24 | 0.03× | 0.00× | ||
| Q3 24 | 0.03× | 0.00× | ||
| Q2 24 | 0.03× | 0.00× | ||
| Q1 24 | 0.04× | 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 | $73.6M | $5.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $73.6M | $5.7M | ||
| Q3 25 | $17.6M | $53.4M | ||
| Q2 25 | $22.1M | $11.1M | ||
| Q1 25 | $12.3M | $3.9M | ||
| Q4 24 | $70.0M | $30.6M | ||
| Q3 24 | $16.3M | $31.4M | ||
| Q2 24 | $18.9M | $39.1M | ||
| Q1 24 | $14.3M | $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 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 37.84× | — | ||
| Q1 25 | 3.28× | — | ||
| Q4 24 | 23.83× | 2.44× | ||
| Q3 24 | 4.81× | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | 6.18× | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GMRE
Segment breakdown not available.
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
