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Side-by-side financial comparison of PAMT CORP (PAMT) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
PAMT CORP is the larger business by last-quarter revenue ($141.3M vs $73.5M, roughly 1.9× Target Hospitality Corp.). Target Hospitality Corp. runs the higher net margin — -20.3% vs -20.7%, a 0.4% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs -15.1%). Over the past eight quarters, Target Hospitality Corp.'s revenue compounded faster (0.7% CAGR vs -12.0%).
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.
PAMT vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.3M | $73.5M |
| Net Profit | $-29.3M | $-14.9M |
| Gross Margin | — | 9.6% |
| Operating Margin | -27.0% | -22.9% |
| Net Margin | -20.7% | -20.3% |
| Revenue YoY | -15.1% | 22.0% |
| Net Profit YoY | 7.4% | -219.1% |
| EPS (diluted) | $-1.38 | $-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 | $141.3M | $73.5M | ||
| Q3 25 | $150.3M | $91.6M | ||
| Q2 25 | $151.1M | $54.9M | ||
| Q1 25 | $155.3M | $54.9M | ||
| Q4 24 | $166.5M | $60.2M | ||
| Q3 24 | $182.6M | $65.8M | ||
| Q2 24 | $182.9M | $67.5M | ||
| Q1 24 | $182.6M | $72.4M |
| Q4 25 | $-29.3M | $-14.9M | ||
| Q3 25 | $-5.6M | $-795.0K | ||
| Q2 25 | $-9.6M | $-14.9M | ||
| Q1 25 | $-8.1M | $-6.5M | ||
| Q4 24 | $-31.6M | $12.5M | ||
| Q3 24 | $2.4M | $20.0M | ||
| Q2 24 | $-2.9M | $18.4M | ||
| Q1 24 | $281.0K | $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 | -27.0% | -22.9% | ||
| Q3 25 | -3.8% | 0.1% | ||
| Q2 25 | -7.3% | -30.8% | ||
| Q1 25 | -5.9% | -2.0% | ||
| Q4 24 | -22.6% | 34.5% | ||
| Q3 24 | 1.3% | 42.5% | ||
| Q2 24 | -0.4% | 43.8% | ||
| Q1 24 | -0.4% | 42.0% |
| Q4 25 | -20.7% | -20.3% | ||
| Q3 25 | -3.7% | -0.9% | ||
| Q2 25 | -6.4% | -27.2% | ||
| Q1 25 | -5.2% | -11.8% | ||
| Q4 24 | -19.0% | 20.8% | ||
| Q3 24 | 1.3% | 30.4% | ||
| Q2 24 | -1.6% | 27.2% | ||
| Q1 24 | 0.2% | 28.2% |
| Q4 25 | $-1.38 | $-0.14 | ||
| Q3 25 | $-0.27 | $-0.01 | ||
| Q2 25 | $-0.46 | $-0.15 | ||
| Q1 25 | $-0.37 | $-0.07 | ||
| Q4 24 | $-1.44 | $0.12 | ||
| Q3 24 | $0.11 | $0.20 | ||
| Q2 24 | $-0.13 | $0.18 | ||
| Q1 24 | $0.01 | $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 | $83.7M | $8.3M |
| Total DebtLower is stronger | $333.9M | $1.7M |
| Stockholders' EquityBook value | $210.5M | $389.3M |
| Total Assets | $697.9M | $530.2M |
| Debt / EquityLower = less leverage | 1.59× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $83.7M | $8.3M | ||
| Q3 25 | $115.6M | $30.4M | ||
| Q2 25 | $117.3M | $19.2M | ||
| Q1 25 | $102.7M | $34.5M | ||
| Q4 24 | $110.7M | $190.7M | ||
| Q3 24 | $92.3M | $177.7M | ||
| Q2 24 | $114.0M | $154.3M | ||
| Q1 24 | $125.8M | $124.3M |
| Q4 25 | $333.9M | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | $325.6M | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $210.5M | $389.3M | ||
| Q3 25 | $239.5M | $402.4M | ||
| Q2 25 | $244.9M | $401.3M | ||
| Q1 25 | $269.6M | $415.3M | ||
| Q4 24 | $277.5M | $421.1M | ||
| Q3 24 | $308.9M | $417.6M | ||
| Q2 24 | $306.7M | $397.2M | ||
| Q1 24 | $314.6M | $375.5M |
| Q4 25 | $697.9M | $530.2M | ||
| Q3 25 | $715.2M | $541.2M | ||
| Q2 25 | $707.9M | $533.7M | ||
| Q1 25 | $712.6M | $562.5M | ||
| Q4 24 | $741.7M | $725.8M | ||
| Q3 24 | $756.7M | $709.8M | ||
| Q2 24 | $733.5M | $697.0M | ||
| Q1 24 | $746.4M | $687.2M |
| Q4 25 | 1.59× | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | 1.17× | 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 | $-5.8M | $5.7M |
| Free Cash FlowOCF − Capex | $-25.0M | — |
| FCF MarginFCF / Revenue | -17.7% | — |
| Capex IntensityCapex / Revenue | 13.6% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-23.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-5.8M | $5.7M | ||
| Q3 25 | $5.9M | $53.4M | ||
| Q2 25 | $12.2M | $11.1M | ||
| Q1 25 | $5.0M | $3.9M | ||
| Q4 24 | $15.2M | $30.6M | ||
| Q3 24 | $15.5M | $31.4M | ||
| Q2 24 | $18.7M | $39.1M | ||
| Q1 24 | $9.6M | $50.6M |
| Q4 25 | $-25.0M | — | ||
| Q3 25 | $2.5M | — | ||
| Q2 25 | $5.9M | — | ||
| Q1 25 | $-6.8M | $-11.6M | ||
| Q4 24 | $-39.9M | — | ||
| Q3 24 | $-33.6M | — | ||
| Q2 24 | $4.1M | — | ||
| Q1 24 | $-12.2M | — |
| Q4 25 | -17.7% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | -4.4% | -21.1% | ||
| Q4 24 | -24.0% | — | ||
| Q3 24 | -18.4% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | -6.7% | — |
| Q4 25 | 13.6% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 4.2% | — | ||
| Q1 25 | 7.6% | 28.2% | ||
| Q4 24 | 33.1% | — | ||
| Q3 24 | 26.9% | — | ||
| Q2 24 | 8.0% | — | ||
| Q1 24 | 12.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | 6.44× | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | 34.11× | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
