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Side-by-side financial comparison of HEALTHSTREAM INC (HSTM) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
HEALTHSTREAM INC is the larger business by last-quarter revenue ($79.7M vs $73.5M, roughly 1.1× Target Hospitality Corp.). On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 7.4%). Over the past eight quarters, HEALTHSTREAM INC's revenue compounded faster (4.7% CAGR vs 0.7%).
HealthStream Inc is a leading U.S.-based provider of workforce development, compliance, and training solutions tailored for the healthcare industry. It offers cloud-based platforms covering clinical skill training, talent management, patient safety education, and regulatory adherence tools, serving over 4,000 healthcare organizations including hospitals, clinics, and long-term care facilities nationwide.
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.
HSTM vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $79.7M | $73.5M |
| Net Profit | — | $-14.9M |
| Gross Margin | — | 9.6% |
| Operating Margin | 3.0% | -22.9% |
| Net Margin | — | -20.3% |
| Revenue YoY | 7.4% | 22.0% |
| Net Profit YoY | — | -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 | $79.7M | $73.5M | ||
| Q3 25 | $76.5M | $91.6M | ||
| Q2 25 | $74.4M | $54.9M | ||
| Q1 25 | $73.5M | $54.9M | ||
| Q4 24 | $74.2M | $60.2M | ||
| Q3 24 | $73.1M | $65.8M | ||
| Q2 24 | $71.6M | $67.5M | ||
| Q1 24 | $72.8M | $72.4M |
| Q4 25 | — | $-14.9M | ||
| Q3 25 | $6.1M | $-795.0K | ||
| Q2 25 | $5.4M | $-14.9M | ||
| Q1 25 | $4.3M | $-6.5M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | $5.7M | $20.0M | ||
| Q2 24 | $4.2M | $18.4M | ||
| Q1 24 | $5.2M | $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 | 3.0% | -22.9% | ||
| Q3 25 | 9.9% | 0.1% | ||
| Q2 25 | 7.9% | -30.8% | ||
| Q1 25 | 6.0% | -2.0% | ||
| Q4 24 | 6.3% | 34.5% | ||
| Q3 24 | 8.9% | 42.5% | ||
| Q2 24 | 6.2% | 43.8% | ||
| Q1 24 | 7.8% | 42.0% |
| Q4 25 | — | -20.3% | ||
| Q3 25 | 8.0% | -0.9% | ||
| Q2 25 | 7.2% | -27.2% | ||
| Q1 25 | 5.9% | -11.8% | ||
| Q4 24 | — | 20.8% | ||
| Q3 24 | 7.8% | 30.4% | ||
| Q2 24 | 5.8% | 27.2% | ||
| Q1 24 | 7.2% | 28.2% |
| Q4 25 | $0.09 | $-0.14 | ||
| Q3 25 | $0.20 | $-0.01 | ||
| Q2 25 | $0.18 | $-0.15 | ||
| Q1 25 | $0.14 | $-0.07 | ||
| Q4 24 | $0.16 | $0.12 | ||
| Q3 24 | $0.19 | $0.20 | ||
| Q2 24 | $0.14 | $0.18 | ||
| Q1 24 | $0.17 | $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 | $36.2M | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $354.0M | $389.3M |
| Total Assets | $520.4M | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.2M | $8.3M | ||
| Q3 25 | $53.5M | $30.4M | ||
| Q2 25 | $52.1M | $19.2M | ||
| Q1 25 | $77.3M | $34.5M | ||
| Q4 24 | $59.5M | $190.7M | ||
| Q3 24 | $57.5M | $177.7M | ||
| Q2 24 | $46.1M | $154.3M | ||
| Q1 24 | $52.4M | $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 | $354.0M | $389.3M | ||
| Q3 25 | $349.2M | $402.4M | ||
| Q2 25 | $350.6M | $401.3M | ||
| Q1 25 | $362.8M | $415.3M | ||
| Q4 24 | $359.4M | $421.1M | ||
| Q3 24 | $355.5M | $417.6M | ||
| Q2 24 | $349.2M | $397.2M | ||
| Q1 24 | $344.9M | $375.5M |
| Q4 25 | $520.4M | $530.2M | ||
| Q3 25 | $499.9M | $541.2M | ||
| Q2 25 | $500.1M | $533.7M | ||
| Q1 25 | $524.0M | $562.5M | ||
| Q4 24 | $510.8M | $725.8M | ||
| Q3 24 | $502.8M | $709.8M | ||
| Q2 24 | $499.6M | $697.0M | ||
| Q1 24 | $511.6M | $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 | $13.2M | $5.7M |
| Free Cash FlowOCF − Capex | $13.0M | — |
| FCF MarginFCF / Revenue | 16.3% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.2M | $5.7M | ||
| Q3 25 | $18.0M | $53.4M | ||
| Q2 25 | $5.0M | $11.1M | ||
| Q1 25 | $27.1M | $3.9M | ||
| Q4 24 | $11.2M | $30.6M | ||
| Q3 24 | $19.1M | $31.4M | ||
| Q2 24 | $6.5M | $39.1M | ||
| Q1 24 | $20.9M | $50.6M |
| Q4 25 | $13.0M | — | ||
| Q3 25 | $17.9M | — | ||
| Q2 25 | $2.7M | — | ||
| Q1 25 | $26.0M | $-11.6M | ||
| Q4 24 | $11.0M | — | ||
| Q3 24 | $18.8M | — | ||
| Q2 24 | $6.3M | — | ||
| Q1 24 | $20.2M | — |
| Q4 25 | 16.3% | — | ||
| Q3 25 | 23.4% | — | ||
| Q2 25 | 3.6% | — | ||
| Q1 25 | 35.4% | -21.1% | ||
| Q4 24 | 14.8% | — | ||
| Q3 24 | 25.8% | — | ||
| Q2 24 | 8.8% | — | ||
| Q1 24 | 27.8% | — |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | 1.4% | 28.2% | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 1.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | 2.96× | — | ||
| Q2 25 | 0.93× | — | ||
| Q1 25 | 6.25× | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | 3.34× | 1.57× | ||
| Q2 24 | 1.55× | 2.13× | ||
| Q1 24 | 4.01× | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HSTM
| Subscription Services | $77.0M | 97% |
| Professional Services | $2.7M | 3% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
