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Side-by-side financial comparison of ICHOR HOLDINGS, LTD. (ICHR) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
ICHOR HOLDINGS, LTD. is the larger business by last-quarter revenue ($223.6M vs $207.0M, roughly 1.1× ONE Group Hospitality, Inc.). ONE Group Hospitality, Inc. runs the higher net margin — -3.1% vs -7.1%, a 4.1% gap on every dollar of revenue. On growth, ICHOR HOLDINGS, LTD. posted the faster year-over-year revenue change (-4.2% vs -6.7%). ICHOR HOLDINGS, LTD. produced more free cash flow last quarter ($5.9M vs $-329.0K). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% CAGR vs 5.4%).
Ichor Holdings Ltd. designs, manufactures and supplies critical fluid delivery systems, subsystems and related components for the global semiconductor manufacturing sector. Its products are integrated into front-end wafer processing equipment, supporting production of advanced logic, memory and specialty chips for leading semiconductor device and equipment makers across North America, East Asia and Europe.
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.
ICHR vs STKS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $223.6M | $207.0M |
| Net Profit | $-16.0M | $-6.4M |
| Gross Margin | 9.4% | — |
| Operating Margin | -6.2% | 2.2% |
| Net Margin | -7.1% | -3.1% |
| Revenue YoY | -4.2% | -6.7% |
| Net Profit YoY | -304.8% | -531.8% |
| EPS (diluted) | $-0.46 | $-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 | $223.6M | $207.0M | ||
| Q3 25 | $239.3M | $180.2M | ||
| Q2 25 | $240.3M | $207.4M | ||
| Q1 25 | $244.5M | $211.1M | ||
| Q4 24 | $233.3M | $221.9M | ||
| Q3 24 | $211.1M | $194.0M | ||
| Q2 24 | $203.2M | $172.5M | ||
| Q1 24 | $201.4M | $85.0M |
| Q4 25 | $-16.0M | $-6.4M | ||
| Q3 25 | $-22.9M | $-76.7M | ||
| Q2 25 | $-9.4M | $-10.1M | ||
| Q1 25 | $-4.6M | $975.0K | ||
| Q4 24 | $-3.9M | $1.5M | ||
| Q3 24 | $-2.8M | $-9.3M | ||
| Q2 24 | $-5.1M | $-7.3M | ||
| Q1 24 | $-9.0M | $-2.1M |
| Q4 25 | 9.4% | — | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 11.3% | — | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | 11.6% | — | ||
| Q3 24 | 13.2% | — | ||
| Q2 24 | 12.6% | — | ||
| Q1 24 | 11.4% | — |
| Q4 25 | -6.2% | 2.2% | ||
| Q3 25 | -8.1% | -4.4% | ||
| Q2 25 | -2.0% | 0.3% | ||
| Q1 25 | -0.5% | 5.1% | ||
| Q4 24 | -0.5% | 5.5% | ||
| Q3 24 | -0.2% | -1.9% | ||
| Q2 24 | -1.1% | 0.6% | ||
| Q1 24 | -1.9% | -0.7% |
| Q4 25 | -7.1% | -3.1% | ||
| Q3 25 | -9.6% | -42.6% | ||
| Q2 25 | -3.9% | -4.9% | ||
| Q1 25 | -1.9% | 0.5% | ||
| Q4 24 | -1.7% | 0.7% | ||
| Q3 24 | -1.3% | -4.8% | ||
| Q2 24 | -2.5% | -4.3% | ||
| Q1 24 | -4.5% | -2.4% |
| Q4 25 | $-0.46 | $-0.50 | ||
| Q3 25 | $-0.67 | $-2.75 | ||
| Q2 25 | $-0.28 | $-0.59 | ||
| Q1 25 | $-0.13 | $-0.21 | ||
| Q4 24 | $-0.11 | $-0.18 | ||
| Q3 24 | $-0.08 | $-0.53 | ||
| Q2 24 | $-0.15 | $-0.38 | ||
| Q1 24 | $-0.30 | $-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 | $98.3M | $4.2M |
| Total DebtLower is stronger | $123.5M | $354.2M |
| Stockholders' EquityBook value | $663.9M | $-75.8M |
| Total Assets | $942.9M | $884.2M |
| Debt / EquityLower = less leverage | 0.19× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.3M | $4.2M | ||
| Q3 25 | $92.5M | $5.5M | ||
| Q2 25 | $92.2M | $4.7M | ||
| Q1 25 | $109.3M | $21.4M | ||
| Q4 24 | $108.7M | $27.6M | ||
| Q3 24 | $116.4M | $28.2M | ||
| Q2 24 | $114.3M | $32.2M | ||
| Q1 24 | $102.1M | $15.4M |
| Q4 25 | $123.5M | $354.2M | ||
| Q3 25 | $123.5M | $355.0M | ||
| Q2 25 | $125.0M | $347.4M | ||
| Q1 25 | $126.8M | $348.3M | ||
| Q4 24 | $128.5M | $348.3M | ||
| Q3 24 | $130.3M | $349.1M | ||
| Q2 24 | $130.2M | $350.0M | ||
| Q1 24 | $131.9M | $73.5M |
| Q4 25 | $663.9M | $-75.8M | ||
| Q3 25 | $676.2M | $-61.5M | ||
| Q2 25 | $694.1M | $23.0M | ||
| Q1 25 | $700.4M | $40.5M | ||
| Q4 24 | $698.3M | $45.9M | ||
| Q3 24 | $697.3M | $51.4M | ||
| Q2 24 | $694.9M | $68.1M | ||
| Q1 24 | $697.2M | $68.3M |
| Q4 25 | $942.9M | $884.2M | ||
| Q3 25 | $966.6M | $879.5M | ||
| Q2 25 | $985.1M | $935.7M | ||
| Q1 25 | $1.0B | $956.0M | ||
| Q4 24 | $995.6M | $960.1M | ||
| Q3 24 | $975.9M | $953.5M | ||
| Q2 24 | $947.7M | $945.9M | ||
| Q1 24 | $957.4M | $309.3M |
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.18× | — | ||
| Q2 25 | 0.18× | 15.07× | ||
| Q1 25 | 0.18× | 8.61× | ||
| Q4 24 | 0.18× | 7.59× | ||
| Q3 24 | 0.19× | 6.79× | ||
| Q2 24 | 0.19× | 5.14× | ||
| Q1 24 | 0.19× | 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 | $9.2M | $13.1M |
| Free Cash FlowOCF − Capex | $5.9M | $-329.0K |
| FCF MarginFCF / Revenue | 2.6% | -0.2% |
| Capex IntensityCapex / Revenue | 1.5% | 6.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-6.3M | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.2M | $13.1M | ||
| Q3 25 | $9.2M | $5.9M | ||
| Q2 25 | $-7.5M | $2.8M | ||
| Q1 25 | $19.0M | $8.5M | ||
| Q4 24 | $-2.5M | $18.5M | ||
| Q3 24 | $8.1M | $19.1M | ||
| Q2 24 | $17.5M | $-3.8M | ||
| Q1 24 | $4.8M | $10.4M |
| Q4 25 | $5.9M | $-329.0K | ||
| Q3 25 | $2.1M | $-6.1M | ||
| Q2 25 | $-14.8M | $-15.0M | ||
| Q1 25 | $496.0K | $-5.8M | ||
| Q4 24 | $-6.9M | $733.0K | ||
| Q3 24 | $2.2M | $287.0K | ||
| Q2 24 | $14.6M | $-23.0M | ||
| Q1 24 | $314.0K | $-5.4M |
| Q4 25 | 2.6% | -0.2% | ||
| Q3 25 | 0.9% | -3.4% | ||
| Q2 25 | -6.2% | -7.2% | ||
| Q1 25 | 0.2% | -2.7% | ||
| Q4 24 | -3.0% | 0.3% | ||
| Q3 24 | 1.0% | 0.1% | ||
| Q2 24 | 7.2% | -13.3% | ||
| Q1 24 | 0.2% | -6.4% |
| Q4 25 | 1.5% | 6.5% | ||
| Q3 25 | 3.0% | 6.7% | ||
| Q2 25 | 3.0% | 8.6% | ||
| Q1 25 | 7.6% | 6.8% | ||
| Q4 24 | 1.9% | 8.0% | ||
| Q3 24 | 2.8% | 9.7% | ||
| Q2 24 | 1.4% | 11.1% | ||
| Q1 24 | 2.2% | 18.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 8.76× | ||
| Q4 24 | — | 12.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ICHR
| Other | $101.6M | 45% |
| US | $67.4M | 30% |
| Other Countries | $29.7M | 13% |
| Europe | $24.9M | 11% |
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
