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Side-by-side financial comparison of NWPX Infrastructure, Inc. (NWPX) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
NWPX Infrastructure, Inc. is the larger business by last-quarter revenue ($138.3M vs $73.5M, roughly 1.9× Target Hospitality Corp.). NWPX Infrastructure, Inc. runs the higher net margin — 7.6% vs -20.3%, a 28.0% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 19.1%). Over the past eight quarters, NWPX Infrastructure, Inc.'s revenue compounded faster (3.3% CAGR vs 0.7%).
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.
NWPX vs TH — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $138.3M | $73.5M |
| Net Profit | $10.5M | $-14.9M |
| Gross Margin | 19.3% | 9.6% |
| Operating Margin | 9.2% | -22.9% |
| Net Margin | 7.6% | -20.3% |
| Revenue YoY | 19.1% | 22.0% |
| Net Profit YoY | 165.7% | -219.1% |
| EPS (diluted) | $1.08 | $-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 | $138.3M | — | ||
| Q4 25 | $125.6M | $73.5M | ||
| Q3 25 | $151.1M | $91.6M | ||
| Q2 25 | $133.2M | $54.9M | ||
| Q1 25 | $116.1M | $54.9M | ||
| Q4 24 | $119.6M | $60.2M | ||
| Q3 24 | $130.2M | $65.8M | ||
| Q2 24 | $129.5M | $67.5M |
| Q1 26 | $10.5M | — | ||
| Q4 25 | $8.9M | $-14.9M | ||
| Q3 25 | $13.5M | $-795.0K | ||
| Q2 25 | $9.1M | $-14.9M | ||
| Q1 25 | $4.0M | $-6.5M | ||
| Q4 24 | $10.1M | $12.5M | ||
| Q3 24 | $10.3M | $20.0M | ||
| Q2 24 | $8.6M | $18.4M |
| Q1 26 | 19.3% | — | ||
| Q4 25 | 21.3% | 9.6% | ||
| Q3 25 | 21.3% | 19.6% | ||
| Q2 25 | 19.0% | -0.6% | ||
| Q1 25 | 16.7% | 32.7% | ||
| Q4 24 | 18.8% | 61.5% | ||
| Q3 24 | 20.8% | 68.7% | ||
| Q2 24 | 19.9% | 69.4% |
| Q1 26 | 9.2% | — | ||
| Q4 25 | 10.4% | -22.9% | ||
| Q3 25 | 12.6% | 0.1% | ||
| Q2 25 | 9.9% | -30.8% | ||
| Q1 25 | 4.8% | -2.0% | ||
| Q4 24 | 8.8% | 34.5% | ||
| Q3 24 | 11.9% | 42.5% | ||
| Q2 24 | 10.5% | 43.8% |
| Q1 26 | 7.6% | — | ||
| Q4 25 | 7.1% | -20.3% | ||
| Q3 25 | 8.9% | -0.9% | ||
| Q2 25 | 6.8% | -27.2% | ||
| Q1 25 | 3.4% | -11.8% | ||
| Q4 24 | 8.4% | 20.8% | ||
| Q3 24 | 7.9% | 30.4% | ||
| Q2 24 | 6.7% | 27.2% |
| Q1 26 | $1.08 | — | ||
| Q4 25 | $0.88 | $-0.14 | ||
| Q3 25 | $1.38 | $-0.01 | ||
| Q2 25 | $0.91 | $-0.15 | ||
| Q1 25 | $0.39 | $-0.07 | ||
| Q4 24 | $1.00 | $0.12 | ||
| Q3 24 | $1.02 | $0.20 | ||
| Q2 24 | $0.86 | $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 | $14.3M | $8.3M |
| Total DebtLower is stronger | $10.7M | $1.7M |
| Stockholders' EquityBook value | $403.7M | $389.3M |
| Total Assets | $634.1M | $530.2M |
| Debt / EquityLower = less leverage | 0.03× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $14.3M | — | ||
| Q4 25 | $2.3M | $8.3M | ||
| Q3 25 | $2.7M | $30.4M | ||
| Q2 25 | $2.0M | $19.2M | ||
| Q1 25 | $5.3M | $34.5M | ||
| Q4 24 | $5.0M | $190.7M | ||
| Q3 24 | $5.7M | $177.7M | ||
| Q2 24 | $4.5M | $154.3M |
| Q1 26 | $10.7M | — | ||
| 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 26 | $403.7M | — | ||
| Q4 25 | $394.8M | $389.3M | ||
| Q3 25 | $386.4M | $402.4M | ||
| Q2 25 | $379.5M | $401.3M | ||
| Q1 25 | $378.5M | $415.3M | ||
| Q4 24 | $374.0M | $421.1M | ||
| Q3 24 | $362.4M | $417.6M | ||
| Q2 24 | $351.2M | $397.2M |
| Q1 26 | $634.1M | — | ||
| Q4 25 | $579.6M | $530.2M | ||
| Q3 25 | $605.2M | $541.2M | ||
| Q2 25 | $592.6M | $533.7M | ||
| Q1 25 | $582.2M | $562.5M | ||
| Q4 24 | $589.7M | $725.8M | ||
| Q3 24 | $617.2M | $709.8M | ||
| Q2 24 | $631.7M | $697.0M |
| Q1 26 | 0.03× | — | ||
| 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× |
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 | $29.3M | $5.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 2.78× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $29.3M | — | ||
| Q4 25 | $36.0M | $5.7M | ||
| Q3 25 | $21.0M | $53.4M | ||
| Q2 25 | $5.4M | $11.1M | ||
| Q1 25 | $4.8M | $3.9M | ||
| Q4 24 | $36.1M | $30.6M | ||
| Q3 24 | $22.7M | $31.4M | ||
| Q2 24 | $22.3M | $39.1M |
| Q1 26 | — | — | ||
| Q4 25 | $30.8M | — | ||
| Q3 25 | $13.2M | — | ||
| Q2 25 | $1.9M | — | ||
| Q1 25 | $1.2M | $-11.6M | ||
| Q4 24 | $31.9M | — | ||
| Q3 24 | $16.8M | — | ||
| Q2 24 | $16.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | 24.5% | — | ||
| Q3 25 | 8.7% | — | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | 1.0% | -21.1% | ||
| Q4 24 | 26.7% | — | ||
| Q3 24 | 12.9% | — | ||
| Q2 24 | 12.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | — | ||
| Q3 25 | 5.2% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 3.2% | 28.2% | ||
| Q4 24 | 3.5% | — | ||
| Q3 24 | 4.6% | — | ||
| Q2 24 | 4.7% | — |
| Q1 26 | 2.78× | — | ||
| Q4 25 | 4.06× | — | ||
| Q3 25 | 1.55× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | 3.58× | 2.44× | ||
| Q3 24 | 2.22× | 1.57× | ||
| Q2 24 | 2.58× | 2.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NWPX
| Water Transmission Systems | $93.5M | 68% |
| Precast Infrastructure and Engineered Systems | $44.8M | 32% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
