vs
Side-by-side financial comparison of HCI Group, Inc. (HCI) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
HCI Group, Inc. is the larger business by last-quarter revenue ($246.2M vs $207.0M, roughly 1.2× ONE Group Hospitality, Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs -3.1%, a 42.7% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs -6.7%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $-329.0K). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% CAGR vs 9.2%).
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
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.
HCI vs STKS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $246.2M | $207.0M |
| Net Profit | $97.7M | $-6.4M |
| Gross Margin | — | — |
| Operating Margin | 58.5% | 2.2% |
| Net Margin | 39.7% | -3.1% |
| Revenue YoY | 52.1% | -6.7% |
| Net Profit YoY | 3679.2% | -531.8% |
| EPS (diluted) | $7.29 | $-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 | $246.2M | $207.0M | ||
| Q3 25 | $216.3M | $180.2M | ||
| Q2 25 | $221.9M | $207.4M | ||
| Q1 25 | $216.4M | $211.1M | ||
| Q4 24 | $161.9M | $221.9M | ||
| Q3 24 | $175.3M | $194.0M | ||
| Q2 24 | $206.2M | $172.5M | ||
| Q1 24 | $206.6M | $85.0M |
| Q4 25 | $97.7M | $-6.4M | ||
| Q3 25 | $65.5M | $-76.7M | ||
| Q2 25 | $66.2M | $-10.1M | ||
| Q1 25 | $69.7M | $975.0K | ||
| Q4 24 | $2.6M | $1.5M | ||
| Q3 24 | $5.7M | $-9.3M | ||
| Q2 24 | $54.1M | $-7.3M | ||
| Q1 24 | $47.6M | $-2.1M |
| Q4 25 | 58.5% | 2.2% | ||
| Q3 25 | 41.9% | -4.4% | ||
| Q2 25 | 42.5% | 0.3% | ||
| Q1 25 | 46.4% | 5.1% | ||
| Q4 24 | 3.6% | 5.5% | ||
| Q3 24 | 8.0% | -1.9% | ||
| Q2 24 | 36.9% | 0.6% | ||
| Q1 24 | 37.5% | -0.7% |
| Q4 25 | 39.7% | -3.1% | ||
| Q3 25 | 30.3% | -42.6% | ||
| Q2 25 | 29.8% | -4.9% | ||
| Q1 25 | 32.2% | 0.5% | ||
| Q4 24 | 1.6% | 0.7% | ||
| Q3 24 | 3.2% | -4.8% | ||
| Q2 24 | 26.2% | -4.3% | ||
| Q1 24 | 23.0% | -2.4% |
| Q4 25 | $7.29 | $-0.50 | ||
| Q3 25 | $4.90 | $-2.75 | ||
| Q2 25 | $5.18 | $-0.59 | ||
| Q1 25 | $5.35 | $-0.21 | ||
| Q4 24 | $0.32 | $-0.18 | ||
| Q3 24 | $0.52 | $-0.53 | ||
| Q2 24 | $4.24 | $-0.38 | ||
| Q1 24 | $3.81 | $-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 | $1.2B | $4.2M |
| Total DebtLower is stronger | — | $354.2M |
| Stockholders' EquityBook value | $1.0B | $-75.8M |
| Total Assets | $2.5B | $884.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $4.2M | ||
| Q3 25 | $987.9M | $5.5M | ||
| Q2 25 | $947.2M | $4.7M | ||
| Q1 25 | $754.5M | $21.4M | ||
| Q4 24 | $532.5M | $27.6M | ||
| Q3 24 | $518.8M | $28.2M | ||
| Q2 24 | $445.8M | $32.2M | ||
| Q1 24 | $655.4M | $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 | $1.0B | $-75.8M | ||
| Q3 25 | $821.8M | $-61.5M | ||
| Q2 25 | $758.6M | $23.0M | ||
| Q1 25 | $522.7M | $40.5M | ||
| Q4 24 | $453.3M | $45.9M | ||
| Q3 24 | $455.3M | $51.4M | ||
| Q2 24 | $447.3M | $68.1M | ||
| Q1 24 | $395.7M | $68.3M |
| Q4 25 | $2.5B | $884.2M | ||
| Q3 25 | $2.3B | $879.5M | ||
| Q2 25 | $2.4B | $935.7M | ||
| Q1 25 | $2.3B | $956.0M | ||
| Q4 24 | $2.2B | $960.1M | ||
| Q3 24 | $2.0B | $953.5M | ||
| Q2 24 | $1.9B | $945.9M | ||
| Q1 24 | $1.8B | $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 | $444.4M | $13.1M |
| Free Cash FlowOCF − Capex | $440.8M | $-329.0K |
| FCF MarginFCF / Revenue | 179.0% | -0.2% |
| Capex IntensityCapex / Revenue | 1.5% | 6.5% |
| Cash ConversionOCF / Net Profit | 4.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | $771.4M | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $444.4M | $13.1M | ||
| Q3 25 | $26.7M | $5.9M | ||
| Q2 25 | $145.0M | $2.8M | ||
| Q1 25 | $162.0M | $8.5M | ||
| Q4 24 | $331.8M | $18.5M | ||
| Q3 24 | $104.1M | $19.1M | ||
| Q2 24 | $-29.0M | $-3.8M | ||
| Q1 24 | $182.0M | $10.4M |
| Q4 25 | $440.8M | $-329.0K | ||
| Q3 25 | $25.9M | $-6.1M | ||
| Q2 25 | $144.5M | $-15.0M | ||
| Q1 25 | $160.3M | $-5.8M | ||
| Q4 24 | $327.8M | $733.0K | ||
| Q3 24 | $103.2M | $287.0K | ||
| Q2 24 | $-30.1M | $-23.0M | ||
| Q1 24 | $181.0M | $-5.4M |
| Q4 25 | 179.0% | -0.2% | ||
| Q3 25 | 12.0% | -3.4% | ||
| Q2 25 | 65.1% | -7.2% | ||
| Q1 25 | 74.1% | -2.7% | ||
| Q4 24 | 202.5% | 0.3% | ||
| Q3 24 | 58.9% | 0.1% | ||
| Q2 24 | -14.6% | -13.3% | ||
| Q1 24 | 87.6% | -6.4% |
| Q4 25 | 1.5% | 6.5% | ||
| Q3 25 | 0.4% | 6.7% | ||
| Q2 25 | 0.2% | 8.6% | ||
| Q1 25 | 0.8% | 6.8% | ||
| Q4 24 | 2.5% | 8.0% | ||
| Q3 24 | 0.5% | 9.7% | ||
| Q2 24 | 0.5% | 11.1% | ||
| Q1 24 | 0.5% | 18.6% |
| Q4 25 | 4.55× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 2.19× | — | ||
| Q1 25 | 2.32× | 8.76× | ||
| Q4 24 | 128.41× | 12.54× | ||
| Q3 24 | 18.33× | — | ||
| Q2 24 | -0.54× | — | ||
| Q1 24 | 3.82× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
