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Side-by-side financial comparison of NETSTREIT Corp. (NTST) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
Target Hospitality Corp. is the larger business by last-quarter revenue ($73.5M vs $57.1M, roughly 1.3× NETSTREIT Corp.). NETSTREIT Corp. runs the higher net margin — 10.0% vs -20.3%, a 30.3% gap on every dollar of revenue. On growth, NETSTREIT Corp. posted the faster year-over-year revenue change (24.3% vs 22.0%). Over the past eight quarters, NETSTREIT Corp.'s revenue compounded faster (20.1% CAGR vs 0.7%).
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
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.
NTST vs TH — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $57.1M | $73.5M |
| Net Profit | $5.7M | $-14.9M |
| Gross Margin | — | 9.6% |
| Operating Margin | 34.1% | -22.9% |
| Net Margin | 10.0% | -20.3% |
| Revenue YoY | 24.3% | 22.0% |
| Net Profit YoY | 235.9% | -219.1% |
| EPS (diluted) | $0.32 | $-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.
| Q1 26 | $57.1M | — | ||
| Q4 25 | $52.5M | $73.5M | ||
| Q3 25 | $48.3M | $91.6M | ||
| Q2 25 | $48.3M | $54.9M | ||
| Q1 25 | $45.9M | $54.9M | ||
| Q4 24 | $44.1M | $60.2M | ||
| Q3 24 | $41.4M | $65.8M | ||
| Q2 24 | $39.6M | $67.5M |
| Q1 26 | $5.7M | — | ||
| Q4 25 | $1.3M | $-14.9M | ||
| Q3 25 | $618.0K | $-795.0K | ||
| Q2 25 | $3.3M | $-14.9M | ||
| Q1 25 | $1.7M | $-6.5M | ||
| Q4 24 | $-5.4M | $12.5M | ||
| Q3 24 | $-5.3M | $20.0M | ||
| Q2 24 | $-2.3M | $18.4M |
| Q1 26 | — | — | ||
| 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 26 | 34.1% | — | ||
| Q4 25 | 2.6% | -22.9% | ||
| Q3 25 | 1.3% | 0.1% | ||
| Q2 25 | 6.8% | -30.8% | ||
| Q1 25 | 3.7% | -2.0% | ||
| Q4 24 | -12.3% | 34.5% | ||
| Q3 24 | -12.8% | 42.5% | ||
| Q2 24 | -5.8% | 43.8% |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 2.5% | -20.3% | ||
| Q3 25 | 1.3% | -0.9% | ||
| Q2 25 | 6.8% | -27.2% | ||
| Q1 25 | 3.7% | -11.8% | ||
| Q4 24 | -12.3% | 20.8% | ||
| Q3 24 | -12.8% | 30.4% | ||
| Q2 24 | -5.8% | 27.2% |
| Q1 26 | $0.32 | — | ||
| Q4 25 | $0.01 | $-0.14 | ||
| Q3 25 | $0.01 | $-0.01 | ||
| Q2 25 | $0.04 | $-0.15 | ||
| Q1 25 | $0.02 | $-0.07 | ||
| Q4 24 | $-0.07 | $0.12 | ||
| Q3 24 | $-0.07 | $0.20 | ||
| Q2 24 | $-0.03 | $0.18 |
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 | — | $1.7M |
| Stockholders' EquityBook value | $1.5B | $389.3M |
| Total Assets | $2.8B | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | $1.1B | $1.7M | ||
| Q3 25 | $1.1B | $2.0M | ||
| Q2 25 | $926.6M | $26.3M | ||
| Q1 25 | $913.3M | $42.9M | ||
| Q4 24 | $868.3M | $1.5M | ||
| Q3 24 | $778.7M | $994.0K | ||
| Q2 24 | $726.2M | $1.1M |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.4B | $389.3M | ||
| Q3 25 | $1.3B | $402.4M | ||
| Q2 25 | $1.3B | $401.3M | ||
| Q1 25 | $1.3B | $415.3M | ||
| Q4 24 | $1.3B | $421.1M | ||
| Q3 24 | $1.3B | $417.6M | ||
| Q2 24 | $1.3B | $397.2M |
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.6B | $530.2M | ||
| Q3 25 | $2.5B | $541.2M | ||
| Q2 25 | $2.3B | $533.7M | ||
| Q1 25 | $2.3B | $562.5M | ||
| Q4 24 | $2.3B | $725.8M | ||
| Q3 24 | $2.2B | $709.8M | ||
| Q2 24 | $2.1B | $697.0M |
| Q1 26 | — | — | ||
| Q4 25 | 0.76× | 0.00× | ||
| Q3 25 | 0.84× | 0.01× | ||
| Q2 25 | 0.70× | 0.07× | ||
| Q1 25 | 0.70× | 0.10× | ||
| Q4 24 | 0.65× | 0.00× | ||
| Q3 24 | 0.58× | 0.00× | ||
| Q2 24 | 0.55× | 0.00× |
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 | — | $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.
| Q1 26 | — | — | ||
| Q4 25 | $109.5M | $5.7M | ||
| Q3 25 | $28.0M | $53.4M | ||
| Q2 25 | $30.6M | $11.1M | ||
| Q1 25 | $22.1M | $3.9M | ||
| Q4 24 | $90.2M | $30.6M | ||
| Q3 24 | $25.1M | $31.4M | ||
| Q2 24 | $25.4M | $39.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-11.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -21.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 28.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 82.46× | — | ||
| Q3 25 | 45.27× | — | ||
| Q2 25 | 9.36× | — | ||
| Q1 25 | 13.06× | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 2.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
