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Side-by-side financial comparison of Granite Ridge Resources, Inc. (GRNT) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
Granite Ridge Resources, Inc. is the larger business by last-quarter revenue ($105.5M vs $73.5M, roughly 1.4× Target Hospitality Corp.). On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs -0.8%). Over the past eight quarters, Granite Ridge Resources, Inc.'s revenue compounded faster (8.9% CAGR vs 0.7%).
Granite Ridge Resources, Inc. is an independent upstream energy company focused on the exploration, development, and production of oil, natural gas, and natural gas liquids. It operates low-cost, high-yield onshore hydrocarbon assets across key U.S. basins, primarily serving North American energy markets.
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.
GRNT vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $73.5M |
| Net Profit | — | $-14.9M |
| Gross Margin | — | 9.6% |
| Operating Margin | -34.5% | -22.9% |
| Net Margin | — | -20.3% |
| Revenue YoY | -0.8% | 22.0% |
| Net Profit YoY | — | -219.1% |
| EPS (diluted) | $-0.19 | $-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 | $105.5M | $73.5M | ||
| Q3 25 | $112.7M | $91.6M | ||
| Q2 25 | $109.2M | $54.9M | ||
| Q1 25 | $122.9M | $54.9M | ||
| Q4 24 | $106.3M | $60.2M | ||
| Q3 24 | $94.1M | $65.8M | ||
| Q2 24 | $90.7M | $67.5M | ||
| Q1 24 | $89.0M | $72.4M |
| Q4 25 | — | $-14.9M | ||
| Q3 25 | $14.5M | $-795.0K | ||
| Q2 25 | $25.1M | $-14.9M | ||
| Q1 25 | $9.8M | $-6.5M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | $9.1M | $20.0M | ||
| Q2 24 | $5.1M | $18.4M | ||
| Q1 24 | $16.2M | $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 | -34.5% | -22.9% | ||
| Q3 25 | 17.4% | 0.1% | ||
| Q2 25 | 19.0% | -30.8% | ||
| Q1 25 | 34.6% | -2.0% | ||
| Q4 24 | -6.5% | 34.5% | ||
| Q3 24 | 26.2% | 42.5% | ||
| Q2 24 | 24.1% | 43.8% | ||
| Q1 24 | 22.0% | 42.0% |
| Q4 25 | — | -20.3% | ||
| Q3 25 | 12.9% | -0.9% | ||
| Q2 25 | 23.0% | -27.2% | ||
| Q1 25 | 8.0% | -11.8% | ||
| Q4 24 | — | 20.8% | ||
| Q3 24 | 9.6% | 30.4% | ||
| Q2 24 | 5.6% | 27.2% | ||
| Q1 24 | 18.2% | 28.2% |
| Q4 25 | $-0.19 | $-0.14 | ||
| Q3 25 | $0.11 | $-0.01 | ||
| Q2 25 | $0.19 | $-0.15 | ||
| Q1 25 | $0.07 | $-0.07 | ||
| Q4 24 | $-0.09 | $0.12 | ||
| Q3 24 | $0.07 | $0.20 | ||
| Q2 24 | $0.04 | $0.18 | ||
| Q1 24 | $0.12 | $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 |
| Total DebtLower is stronger | $367.8M | $1.7M |
| Stockholders' EquityBook value | $605.8M | $389.3M |
| Total Assets | $1.2B | $530.2M |
| Debt / EquityLower = less leverage | 0.61× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $8.3M | ||
| Q3 25 | — | $30.4M | ||
| Q2 25 | — | $19.2M | ||
| Q1 25 | — | $34.5M | ||
| Q4 24 | — | $190.7M | ||
| Q3 24 | — | $177.7M | ||
| Q2 24 | — | $154.3M | ||
| Q1 24 | — | $124.3M |
| Q4 25 | $367.8M | $1.7M | ||
| Q3 25 | $300.0M | $2.0M | ||
| Q2 25 | $275.0M | $26.3M | ||
| Q1 25 | $250.0M | $42.9M | ||
| Q4 24 | $205.0M | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | $137.5M | $179.9M |
| Q4 25 | $605.8M | $389.3M | ||
| Q3 25 | $643.9M | $402.4M | ||
| Q2 25 | $642.5M | $401.3M | ||
| Q1 25 | $631.4M | $415.3M | ||
| Q4 24 | $635.4M | $421.1M | ||
| Q3 24 | $660.6M | $417.6M | ||
| Q2 24 | $665.3M | $397.2M | ||
| Q1 24 | $674.0M | $375.5M |
| Q4 25 | $1.2B | $530.2M | ||
| Q3 25 | $1.1B | $541.2M | ||
| Q2 25 | $1.1B | $533.7M | ||
| Q1 25 | $1.1B | $562.5M | ||
| Q4 24 | $1.0B | $725.8M | ||
| Q3 24 | $1.0B | $709.8M | ||
| Q2 24 | $990.5M | $697.0M | ||
| Q1 24 | $966.7M | $687.2M |
| Q4 25 | 0.61× | 0.00× | ||
| Q3 25 | 0.47× | 0.01× | ||
| Q2 25 | 0.43× | 0.07× | ||
| Q1 25 | 0.40× | 0.10× | ||
| Q4 24 | 0.32× | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | 0.20× | 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 | $64.5M | $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 | $64.5M | $5.7M | ||
| Q3 25 | $77.8M | $53.4M | ||
| Q2 25 | $78.0M | $11.1M | ||
| Q1 25 | $76.1M | $3.9M | ||
| Q4 24 | $68.2M | $30.6M | ||
| Q3 24 | $74.7M | $31.4M | ||
| Q2 24 | $64.2M | $39.1M | ||
| Q1 24 | $68.7M | $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 | 5.36× | — | ||
| Q2 25 | 3.11× | — | ||
| Q1 25 | 7.75× | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | 8.25× | 1.57× | ||
| Q2 24 | 12.58× | 2.13× | ||
| Q1 24 | 4.23× | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRNT
| Oil And Gas Service | $87.6M | 83% |
| Natural Gas Storage | $17.9M | 17% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
