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Side-by-side financial comparison of Plymouth Industrial REIT, Inc. (PLYM) 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 $51.2M, roughly 1.4× Plymouth Industrial REIT, Inc.). Target Hospitality Corp. runs the higher net margin — -20.3% vs -106.3%, a 85.9% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs -1.4%). Over the past eight quarters, Target Hospitality Corp.'s revenue compounded faster (0.7% CAGR vs 0.4%).
Plymouth Industrial REIT, Inc. is a real estate investment trust focused on owning, operating, and acquiring high-quality industrial properties including distribution centers, warehouses, and light industrial facilities across key U.S. logistics hubs. It serves tenants in e-commerce, retail, manufacturing, and third-party logistics sectors, supporting diverse business supply chain needs.
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.
PLYM vs TH — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $51.2M | $73.5M |
| Net Profit | $-54.4M | $-14.9M |
| Gross Margin | — | 9.6% |
| Operating Margin | -102.5% | -22.9% |
| Net Margin | -106.3% | -20.3% |
| Revenue YoY | -1.4% | 22.0% |
| Net Profit YoY | -248.5% | -219.1% |
| EPS (diluted) | $-1.23 | $-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 | — | $73.5M | ||
| Q3 25 | $51.2M | $91.6M | ||
| Q2 25 | $47.2M | $54.9M | ||
| Q1 25 | $45.6M | $54.9M | ||
| Q4 24 | $47.6M | $60.2M | ||
| Q3 24 | $51.9M | $65.8M | ||
| Q2 24 | $48.7M | $67.5M | ||
| Q1 24 | $50.2M | $72.4M |
| Q4 25 | — | $-14.9M | ||
| Q3 25 | $-54.4M | $-795.0K | ||
| Q2 25 | $-6.1M | $-14.9M | ||
| Q1 25 | $5.8M | $-6.5M | ||
| Q4 24 | $147.4M | $12.5M | ||
| Q3 24 | $-15.6M | $20.0M | ||
| Q2 24 | $1.3M | $18.4M | ||
| Q1 24 | $6.2M | $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 | — | -22.9% | ||
| Q3 25 | -102.5% | 0.1% | ||
| Q2 25 | -10.3% | -30.8% | ||
| Q1 25 | — | -2.0% | ||
| Q4 24 | — | 34.5% | ||
| Q3 24 | -29.6% | 42.5% | ||
| Q2 24 | 2.7% | 43.8% | ||
| Q1 24 | — | 42.0% |
| Q4 25 | — | -20.3% | ||
| Q3 25 | -106.3% | -0.9% | ||
| Q2 25 | -12.9% | -27.2% | ||
| Q1 25 | 12.8% | -11.8% | ||
| Q4 24 | 309.9% | 20.8% | ||
| Q3 24 | -30.1% | 30.4% | ||
| Q2 24 | 2.7% | 27.2% | ||
| Q1 24 | 12.4% | 28.2% |
| Q4 25 | — | $-0.14 | ||
| Q3 25 | $-1.23 | $-0.01 | ||
| Q2 25 | $-0.14 | $-0.15 | ||
| Q1 25 | $0.13 | $-0.07 | ||
| Q4 24 | $3.24 | $0.12 | ||
| Q3 24 | $-0.35 | $0.20 | ||
| Q2 24 | $0.03 | $0.18 | ||
| Q1 24 | $0.14 | $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 | — | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $470.1M | $389.3M |
| Total Assets | $1.6B | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| 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 24 | — | $124.3M |
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | $646.4M | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | — | $389.3M | ||
| Q3 25 | $470.1M | $402.4M | ||
| Q2 25 | $539.6M | $401.3M | ||
| Q1 25 | $571.0M | $415.3M | ||
| Q4 24 | $579.5M | $421.1M | ||
| Q3 24 | $436.5M | $417.6M | ||
| Q2 24 | $475.2M | $397.2M | ||
| Q1 24 | $484.6M | $375.5M |
| Q4 25 | — | $530.2M | ||
| Q3 25 | $1.6B | $541.2M | ||
| Q2 25 | $1.6B | $533.7M | ||
| Q1 25 | $1.4B | $562.5M | ||
| Q4 24 | $1.4B | $725.8M | ||
| Q3 24 | $1.5B | $709.8M | ||
| Q2 24 | $1.4B | $697.0M | ||
| Q1 24 | $1.4B | $687.2M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | 1.12× | 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 | $20.0M | $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.
| Q4 25 | — | $5.7M | ||
| Q3 25 | $20.0M | $53.4M | ||
| Q2 25 | $23.4M | $11.1M | ||
| Q1 25 | $15.6M | $3.9M | ||
| Q4 24 | $96.1M | $30.6M | ||
| Q3 24 | $17.6M | $31.4M | ||
| Q2 24 | $19.9M | $39.1M | ||
| Q1 24 | $16.6M | $50.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-11.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -21.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 28.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.67× | — | ||
| Q4 24 | 0.65× | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | 15.12× | 2.13× | ||
| Q1 24 | 2.67× | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PLYM
Segment breakdown not available.
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
