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Side-by-side financial comparison of Merchants Bancorp (MBIN) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
ONE Group Hospitality, Inc. is the larger business by last-quarter revenue ($207.0M vs $175.2M, roughly 1.2× Merchants Bancorp). Merchants Bancorp runs the higher net margin — 38.6% vs -3.1%, a 41.7% gap on every dollar of revenue. Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% CAGR vs 4.8%).
Ameris Bancorp is an American bank holding company headquartered in Atlanta, Georgia. Through its bank subsidiary, Ameris Bank, the company operates full-service branches in Georgia, Alabama, Florida, North Carolina and South Carolina, and mortgage-only locations in Georgia, Alabama, Florida, North Carolina, South Carolina, Virginia, Maryland, and Tennessee. The company offers online and mobile banking options for both consumers and businesses.
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.
MBIN vs STKS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $175.2M | $207.0M |
| Net Profit | $67.7M | $-6.4M |
| Gross Margin | — | — |
| Operating Margin | — | 2.2% |
| Net Margin | 38.6% | -3.1% |
| Revenue YoY | — | -6.7% |
| Net Profit YoY | 16.3% | -531.8% |
| EPS (diluted) | $1.25 | $-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.
| Q1 26 | $175.2M | — | ||
| Q4 25 | $185.3M | $207.0M | ||
| Q3 25 | $171.1M | $180.2M | ||
| Q2 25 | $179.2M | $207.4M | ||
| Q1 25 | $145.9M | $211.1M | ||
| Q4 24 | $193.8M | $221.9M | ||
| Q3 24 | $149.6M | $194.0M | ||
| Q2 24 | $159.5M | $172.5M |
| Q1 26 | $67.7M | — | ||
| Q4 25 | — | $-6.4M | ||
| Q3 25 | $54.7M | $-76.7M | ||
| Q2 25 | $38.0M | $-10.1M | ||
| Q1 25 | $58.2M | $975.0K | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | $61.3M | $-9.3M | ||
| Q2 24 | $76.4M | $-7.3M |
| Q1 26 | — | — | ||
| Q4 25 | 39.9% | 2.2% | ||
| Q3 25 | 37.8% | -4.4% | ||
| Q2 25 | 27.3% | 0.3% | ||
| Q1 25 | 52.4% | 5.1% | ||
| Q4 24 | 66.0% | 5.5% | ||
| Q3 24 | 54.4% | -1.9% | ||
| Q2 24 | 62.2% | 0.6% |
| Q1 26 | 38.6% | — | ||
| Q4 25 | — | -3.1% | ||
| Q3 25 | 32.0% | -42.6% | ||
| Q2 25 | 21.2% | -4.9% | ||
| Q1 25 | 39.9% | 0.5% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 41.0% | -4.8% | ||
| Q2 24 | 47.9% | -4.3% |
| Q1 26 | $1.25 | — | ||
| Q4 25 | $1.28 | $-0.50 | ||
| Q3 25 | $0.97 | $-2.75 | ||
| Q2 25 | $0.60 | $-0.59 | ||
| Q1 25 | $0.93 | $-0.21 | ||
| Q4 24 | $1.84 | $-0.18 | ||
| Q3 24 | $1.17 | $-0.53 | ||
| Q2 24 | $1.49 | $-0.38 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $83.2M | $4.2M |
| Total DebtLower is stronger | $32.0M | $354.2M |
| Stockholders' EquityBook value | $2.3B | $-75.8M |
| Total Assets | $20.3B | $884.2M |
| Debt / EquityLower = less leverage | 0.01× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $83.2M | — | ||
| Q4 25 | — | $4.2M | ||
| Q3 25 | — | $5.5M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $21.4M | ||
| Q4 24 | — | $27.6M | ||
| Q3 24 | — | $28.2M | ||
| Q2 24 | — | $32.2M |
| Q1 26 | $32.0M | — | ||
| 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 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $-75.8M | ||
| Q3 25 | $2.2B | $-61.5M | ||
| Q2 25 | $2.2B | $23.0M | ||
| Q1 25 | $2.2B | $40.5M | ||
| Q4 24 | $2.2B | $45.9M | ||
| Q3 24 | $1.9B | $51.4M | ||
| Q2 24 | $1.9B | $68.1M |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $19.4B | $884.2M | ||
| Q3 25 | $19.4B | $879.5M | ||
| Q2 25 | $19.1B | $935.7M | ||
| Q1 25 | $18.8B | $956.0M | ||
| Q4 24 | $18.8B | $960.1M | ||
| Q3 24 | $18.7B | $953.5M | ||
| Q2 24 | $18.2B | $945.9M |
| Q1 26 | 0.01× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 15.07× | ||
| Q1 25 | — | 8.61× | ||
| Q4 24 | — | 7.59× | ||
| Q3 24 | — | 6.79× | ||
| Q2 24 | — | 5.14× |
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 | — | $13.1M |
| Free Cash FlowOCF − Capex | — | $-329.0K |
| FCF MarginFCF / Revenue | — | -0.2% |
| Capex IntensityCapex / Revenue | — | 6.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-341.2M | $13.1M | ||
| Q3 25 | $29.8M | $5.9M | ||
| Q2 25 | $-121.2M | $2.8M | ||
| Q1 25 | $148.0M | $8.5M | ||
| Q4 24 | $-835.3M | $18.5M | ||
| Q3 24 | $-492.6M | $19.1M | ||
| Q2 24 | $51.1M | $-3.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-362.2M | $-329.0K | ||
| Q3 25 | $24.0M | $-6.1M | ||
| Q2 25 | $-125.7M | $-15.0M | ||
| Q1 25 | $141.2M | $-5.8M | ||
| Q4 24 | $-853.7M | $733.0K | ||
| Q3 24 | $-497.2M | $287.0K | ||
| Q2 24 | $45.8M | $-23.0M |
| Q1 26 | — | — | ||
| Q4 25 | -195.5% | -0.2% | ||
| Q3 25 | 14.0% | -3.4% | ||
| Q2 25 | -70.1% | -7.2% | ||
| Q1 25 | 96.8% | -2.7% | ||
| Q4 24 | -440.6% | 0.3% | ||
| Q3 24 | -332.4% | 0.1% | ||
| Q2 24 | 28.7% | -13.3% |
| Q1 26 | — | — | ||
| Q4 25 | 11.3% | 6.5% | ||
| Q3 25 | 3.4% | 6.7% | ||
| Q2 25 | 2.5% | 8.6% | ||
| Q1 25 | 4.7% | 6.8% | ||
| Q4 24 | 9.5% | 8.0% | ||
| Q3 24 | 3.0% | 9.7% | ||
| Q2 24 | 3.3% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.54× | — | ||
| Q2 25 | -3.19× | — | ||
| Q1 25 | 2.54× | 8.76× | ||
| Q4 24 | — | 12.54× | ||
| Q3 24 | -8.04× | — | ||
| Q2 24 | 0.67× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MBIN
| Net Interest Income | $128.6M | 73% |
| Noninterest Income | $46.6M | 27% |
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
