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Side-by-side financial comparison of STEM, INC. (STEM) 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 $47.1M, roughly 1.6× STEM, INC.). Target Hospitality Corp. runs the higher net margin — -20.3% vs -33.9%, a 13.6% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs 0.7%).
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
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.
STEM vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $47.1M | $73.5M |
| Net Profit | $-16.0M | $-14.9M |
| Gross Margin | 48.9% | 9.6% |
| Operating Margin | -17.7% | -22.9% |
| Net Margin | -33.9% | -20.3% |
| Revenue YoY | -15.6% | 22.0% |
| Net Profit YoY | 68.8% | -219.1% |
| EPS (diluted) | $-4.40 | $-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 | $47.1M | $73.5M | ||
| Q3 25 | $38.2M | $91.6M | ||
| Q2 25 | $38.4M | $54.9M | ||
| Q1 25 | $32.5M | $54.9M | ||
| Q4 24 | $55.8M | $60.2M | ||
| Q3 24 | $29.3M | $65.8M | ||
| Q2 24 | $34.0M | $67.5M | ||
| Q1 24 | $25.5M | $72.4M |
| Q4 25 | $-16.0M | $-14.9M | ||
| Q3 25 | $-23.8M | $-795.0K | ||
| Q2 25 | $202.5M | $-14.9M | ||
| Q1 25 | $-25.0M | $-6.5M | ||
| Q4 24 | $-51.1M | $12.5M | ||
| Q3 24 | $-148.3M | $20.0M | ||
| Q2 24 | $-582.3M | $18.4M | ||
| Q1 24 | $-72.3M | $20.4M |
| Q4 25 | 48.9% | 9.6% | ||
| Q3 25 | 35.5% | 19.6% | ||
| Q2 25 | 33.4% | -0.6% | ||
| Q1 25 | 32.4% | 32.7% | ||
| Q4 24 | -4.4% | 61.5% | ||
| Q3 24 | 21.2% | 68.7% | ||
| Q2 24 | 27.6% | 69.4% | ||
| Q1 24 | -95.0% | 67.8% |
| Q4 25 | -17.7% | -22.9% | ||
| Q3 25 | -33.6% | 0.1% | ||
| Q2 25 | -34.8% | -30.8% | ||
| Q1 25 | -65.0% | -2.0% | ||
| Q4 24 | -84.4% | 34.5% | ||
| Q3 24 | -493.2% | 42.5% | ||
| Q2 24 | -1705.5% | 43.8% | ||
| Q1 24 | -267.0% | 42.0% |
| Q4 25 | -33.9% | -20.3% | ||
| Q3 25 | -62.2% | -0.9% | ||
| Q2 25 | 527.8% | -27.2% | ||
| Q1 25 | -76.9% | -11.8% | ||
| Q4 24 | -91.6% | 20.8% | ||
| Q3 24 | -506.3% | 30.4% | ||
| Q2 24 | -1712.6% | 27.2% | ||
| Q1 24 | -283.9% | 28.2% |
| Q4 25 | $-4.40 | $-0.14 | ||
| Q3 25 | $-2.84 | $-0.01 | ||
| Q2 25 | $-1.79 | $-0.15 | ||
| Q1 25 | $-0.15 | $-0.07 | ||
| Q4 24 | $-15.29 | $0.12 | ||
| Q3 24 | $-18.24 | $0.20 | ||
| Q2 24 | $-71.81 | $0.18 | ||
| Q1 24 | $-0.46 | $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 | $48.9M | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $-249.4M | $389.3M |
| Total Assets | $308.9M | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $48.9M | $8.3M | ||
| Q3 25 | $43.1M | $30.4M | ||
| Q2 25 | $40.8M | $19.2M | ||
| Q1 25 | $58.6M | $34.5M | ||
| Q4 24 | $56.3M | $190.7M | ||
| Q3 24 | $75.4M | $177.7M | ||
| Q2 24 | $89.6M | $154.3M | ||
| Q1 24 | $112.8M | $124.3M |
| 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 24 | — | $179.9M |
| Q4 25 | $-249.4M | $389.3M | ||
| Q3 25 | $-235.7M | $402.4M | ||
| Q2 25 | $-214.1M | $401.3M | ||
| Q1 25 | $-417.5M | $415.3M | ||
| Q4 24 | $-398.4M | $421.1M | ||
| Q3 24 | $-344.1M | $417.6M | ||
| Q2 24 | $-203.2M | $397.2M | ||
| Q1 24 | $371.6M | $375.5M |
| Q4 25 | $308.9M | $530.2M | ||
| Q3 25 | $362.6M | $541.2M | ||
| Q2 25 | $379.2M | $533.7M | ||
| Q1 25 | $405.1M | $562.5M | ||
| Q4 24 | $437.4M | $725.8M | ||
| Q3 24 | $537.8M | $709.8M | ||
| Q2 24 | $691.5M | $697.0M | ||
| Q1 24 | $1.3B | $687.2M |
| 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× | ||
| 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 | $8.2M | $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 | $8.2M | $5.7M | ||
| Q3 25 | $11.4M | $53.4M | ||
| Q2 25 | $-21.3M | $11.1M | ||
| Q1 25 | $8.5M | $3.9M | ||
| Q4 24 | $-14.7M | $30.6M | ||
| Q3 24 | $-9.4M | $31.4M | ||
| Q2 24 | $-11.9M | $39.1M | ||
| Q1 24 | $-621.0K | $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 | -0.11× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | — | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
STEM
Segment breakdown not available.
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
