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Side-by-side financial comparison of P10, Inc. (PX) and Twin Hospitality Group Inc. (TWNP). Click either name above to swap in a different company.
Twin Hospitality Group Inc. is the larger business by last-quarter revenue ($82.3M vs $81.0M, roughly 1.0× P10, Inc.). P10, Inc. runs the higher net margin — 11.7% vs -29.7%, a 41.4% gap on every dollar of revenue. P10, Inc. produced more free cash flow last quarter ($18.1M vs $-7.4M).
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
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.
PX vs TWNP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $81.0M | $82.3M |
| Net Profit | $9.5M | $-24.5M |
| Gross Margin | — | — |
| Operating Margin | 31.9% | -16.2% |
| Net Margin | 11.7% | -29.7% |
| Revenue YoY | -4.7% | — |
| Net Profit YoY | 79.0% | — |
| EPS (diluted) | $0.08 | $-0.43 |
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 | $81.0M | — | ||
| Q3 25 | $75.9M | $82.3M | ||
| Q2 25 | $72.7M | $87.8M | ||
| Q1 25 | $67.7M | $87.1M | ||
| Q4 24 | $85.0M | — | ||
| Q3 24 | $74.2M | — | ||
| Q2 24 | $71.1M | — | ||
| Q1 24 | $66.1M | — |
| Q4 25 | $9.5M | — | ||
| Q3 25 | $2.1M | $-24.5M | ||
| Q2 25 | $3.4M | $-20.8M | ||
| Q1 25 | $4.5M | $-12.1M | ||
| Q4 24 | $5.3M | — | ||
| Q3 24 | $1.4M | — | ||
| Q2 24 | $7.0M | — | ||
| Q1 24 | $5.0M | — |
| Q4 25 | 31.9% | — | ||
| Q3 25 | 14.1% | -16.2% | ||
| Q2 25 | 24.4% | -13.2% | ||
| Q1 25 | 16.6% | -1.2% | ||
| Q4 24 | 26.9% | — | ||
| Q3 24 | 11.9% | — | ||
| Q2 24 | 23.7% | — | ||
| Q1 24 | 18.3% | — |
| Q4 25 | 11.7% | — | ||
| Q3 25 | 2.8% | -29.7% | ||
| Q2 25 | 4.7% | -23.7% | ||
| Q1 25 | 6.7% | -13.9% | ||
| Q4 24 | 6.2% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 9.8% | — | ||
| Q1 24 | 7.6% | — |
| Q4 25 | $0.08 | — | ||
| Q3 25 | $0.02 | $-0.43 | ||
| Q2 25 | $0.03 | $-0.38 | ||
| Q1 25 | $0.04 | $-0.26 | ||
| Q4 24 | $0.05 | — | ||
| Q3 24 | $0.01 | — | ||
| Q2 24 | $0.06 | — | ||
| Q1 24 | $0.04 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $28.2M | — |
| Total DebtLower is stronger | $373.2M | $402.8M |
| Stockholders' EquityBook value | $403.5M | $-92.1M |
| Total Assets | $928.3M | $516.8M |
| Debt / EquityLower = less leverage | 0.93× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.2M | — | ||
| Q3 25 | $40.0M | — | ||
| Q2 25 | $33.4M | — | ||
| Q1 25 | $74.4M | — | ||
| Q4 24 | $67.5M | — | ||
| Q3 24 | $61.5M | — | ||
| Q2 24 | $31.2M | — | ||
| Q1 24 | $29.0M | — |
| Q4 25 | $373.2M | — | ||
| Q3 25 | $393.4M | $402.8M | ||
| Q2 25 | $373.0M | $411.3M | ||
| Q1 25 | $357.2M | $413.0M | ||
| Q4 24 | $319.8M | — | ||
| Q3 24 | $319.4M | — | ||
| Q2 24 | $300.6M | — | ||
| Q1 24 | $314.0M | — |
| Q4 25 | $403.5M | — | ||
| Q3 25 | $396.8M | $-92.1M | ||
| Q2 25 | $388.9M | $-78.6M | ||
| Q1 25 | $374.3M | $-101.9M | ||
| Q4 24 | $386.9M | — | ||
| Q3 24 | $394.1M | — | ||
| Q2 24 | $396.9M | — | ||
| Q1 24 | $400.1M | — |
| Q4 25 | $928.3M | — | ||
| Q3 25 | $936.0M | $516.8M | ||
| Q2 25 | $932.2M | $535.1M | ||
| Q1 25 | $877.4M | $544.2M | ||
| Q4 24 | $869.3M | — | ||
| Q3 24 | $857.0M | — | ||
| Q2 24 | $823.2M | — | ||
| Q1 24 | $832.8M | — |
| Q4 25 | 0.93× | — | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 0.96× | — | ||
| Q1 25 | 0.95× | — | ||
| Q4 24 | 0.83× | — | ||
| Q3 24 | 0.81× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.78× | — |
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 | $23.0M | $-5.9M |
| Free Cash FlowOCF − Capex | $18.1M | $-7.4M |
| FCF MarginFCF / Revenue | 22.3% | -9.0% |
| Capex IntensityCapex / Revenue | 6.0% | 1.9% |
| Cash ConversionOCF / Net Profit | 2.43× | — |
| TTM Free Cash FlowTrailing 4 quarters | $14.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.0M | — | ||
| Q3 25 | $-8.6M | $-5.9M | ||
| Q2 25 | $13.4M | $-8.8M | ||
| Q1 25 | $-4.7M | $-5.7M | ||
| Q4 24 | $101.0M | — | ||
| Q3 24 | $27.5M | — | ||
| Q2 24 | $34.8M | — | ||
| Q1 24 | $11.0M | — |
| Q4 25 | $18.1M | — | ||
| Q3 25 | $-9.5M | $-7.4M | ||
| Q2 25 | $11.6M | $-10.6M | ||
| Q1 25 | $-6.0M | $-9.7M | ||
| Q4 24 | $96.6M | — | ||
| Q3 24 | $25.2M | — | ||
| Q2 24 | $33.9M | — | ||
| Q1 24 | $10.7M | — |
| Q4 25 | 22.3% | — | ||
| Q3 25 | -12.6% | -9.0% | ||
| Q2 25 | 15.9% | -12.1% | ||
| Q1 25 | -8.9% | -11.2% | ||
| Q4 24 | 113.6% | — | ||
| Q3 24 | 34.0% | — | ||
| Q2 24 | 47.7% | — | ||
| Q1 24 | 16.2% | — |
| Q4 25 | 6.0% | — | ||
| Q3 25 | 1.2% | 1.9% | ||
| Q2 25 | 2.5% | 2.1% | ||
| Q1 25 | 1.9% | 4.6% | ||
| Q4 24 | 5.2% | — | ||
| Q3 24 | 3.0% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 0.4% | — |
| Q4 25 | 2.43× | — | ||
| Q3 25 | -4.01× | — | ||
| Q2 25 | 3.96× | — | ||
| Q1 25 | -1.05× | — | ||
| Q4 24 | 19.12× | — | ||
| Q3 24 | 19.54× | — | ||
| Q2 24 | 4.98× | — | ||
| Q1 24 | 2.18× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
TWNP
Segment breakdown not available.
