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Side-by-side financial comparison of ONE Group Hospitality, Inc. (STKS) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
ONE Group Hospitality, Inc. is the larger business by last-quarter revenue ($207.0M vs $117.3M, roughly 1.8× Latham Group, Inc.). ONE Group Hospitality, Inc. runs the higher net margin — -3.1% vs -7.3%, a 4.2% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (5.3% vs -6.7%). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% CAGR vs -14.4%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
STKS vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $207.0M | $117.3M |
| Net Profit | $-6.4M | $-8.5M |
| Gross Margin | — | 31.7% |
| Operating Margin | 2.2% | — |
| Net Margin | -3.1% | -7.3% |
| Revenue YoY | -6.7% | 5.3% |
| Net Profit YoY | -531.8% | -43.1% |
| EPS (diluted) | $-0.50 | $-0.07 |
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 | — | $117.3M | ||
| Q4 25 | $207.0M | $100.0M | ||
| Q3 25 | $180.2M | $161.9M | ||
| Q2 25 | $207.4M | $172.6M | ||
| Q1 25 | $211.1M | $111.4M | ||
| Q4 24 | $221.9M | $87.3M | ||
| Q3 24 | $194.0M | $150.5M | ||
| Q2 24 | $172.5M | $160.1M |
| Q1 26 | — | $-8.5M | ||
| Q4 25 | $-6.4M | $-7.0M | ||
| Q3 25 | $-76.7M | $8.1M | ||
| Q2 25 | $-10.1M | $16.0M | ||
| Q1 25 | $975.0K | $-6.0M | ||
| Q4 24 | $1.5M | $-29.2M | ||
| Q3 24 | $-9.3M | $5.9M | ||
| Q2 24 | $-7.3M | $13.3M |
| Q1 26 | — | 31.7% | ||
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.2% | -10.7% | ||
| Q3 25 | -4.4% | 13.3% | ||
| Q2 25 | 0.3% | 14.3% | ||
| Q1 25 | 5.1% | -4.4% | ||
| Q4 24 | 5.5% | -14.9% | ||
| Q3 24 | -1.9% | 8.9% | ||
| Q2 24 | 0.6% | 12.5% |
| Q1 26 | — | -7.3% | ||
| Q4 25 | -3.1% | -7.0% | ||
| Q3 25 | -42.6% | 5.0% | ||
| Q2 25 | -4.9% | 9.3% | ||
| Q1 25 | 0.5% | -5.4% | ||
| Q4 24 | 0.7% | -33.4% | ||
| Q3 24 | -4.8% | 3.9% | ||
| Q2 24 | -4.3% | 8.3% |
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $-0.50 | $-0.06 | ||
| Q3 25 | $-2.75 | $0.07 | ||
| Q2 25 | $-0.59 | $0.13 | ||
| Q1 25 | $-0.21 | $-0.05 | ||
| Q4 24 | $-0.18 | $-0.24 | ||
| Q3 24 | $-0.53 | $0.05 | ||
| Q2 24 | $-0.38 | $0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.2M | — |
| Total DebtLower is stronger | $354.2M | $3.3M |
| Stockholders' EquityBook value | $-75.8M | $396.7M |
| Total Assets | $884.2M | $856.4M |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $4.2M | — | ||
| Q3 25 | $5.5M | — | ||
| Q2 25 | $4.7M | — | ||
| Q1 25 | $21.4M | — | ||
| Q4 24 | $27.6M | — | ||
| Q3 24 | $28.2M | — | ||
| Q2 24 | $32.2M | — |
| Q1 26 | — | $3.3M | ||
| Q4 25 | $354.2M | $279.8M | ||
| Q3 25 | $355.0M | $281.1M | ||
| Q2 25 | $347.4M | $281.5M | ||
| Q1 25 | $348.3M | $306.9M | ||
| Q4 24 | $348.3M | $281.5M | ||
| Q3 24 | $349.1M | $282.8M | ||
| Q2 24 | $350.0M | $282.4M |
| Q1 26 | — | $396.7M | ||
| Q4 25 | $-75.8M | $405.9M | ||
| Q3 25 | $-61.5M | $408.4M | ||
| Q2 25 | $23.0M | $398.4M | ||
| Q1 25 | $40.5M | $381.1M | ||
| Q4 24 | $45.9M | $387.2M | ||
| Q3 24 | $51.4M | $416.6M | ||
| Q2 24 | $68.1M | $408.1M |
| Q1 26 | — | $856.4M | ||
| Q4 25 | $884.2M | $823.2M | ||
| Q3 25 | $879.5M | $844.4M | ||
| Q2 25 | $935.7M | $822.1M | ||
| Q1 25 | $956.0M | $824.6M | ||
| Q4 24 | $960.1M | $794.2M | ||
| Q3 24 | $953.5M | $853.4M | ||
| Q2 24 | $945.9M | $830.0M |
| Q1 26 | — | 0.01× | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | 15.07× | 0.71× | ||
| Q1 25 | 8.61× | 0.81× | ||
| Q4 24 | 7.59× | 0.73× | ||
| Q3 24 | 6.79× | 0.68× | ||
| Q2 24 | 5.14× | 0.69× |
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 | $13.1M | $-47.7M |
| Free Cash FlowOCF − Capex | $-329.0K | — |
| FCF MarginFCF / Revenue | -0.2% | — |
| Capex IntensityCapex / Revenue | 6.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-27.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-47.7M | ||
| Q4 25 | $13.1M | $23.3M | ||
| Q3 25 | $5.9M | $51.0M | ||
| Q2 25 | $2.8M | $36.0M | ||
| Q1 25 | $8.5M | $-46.9M | ||
| Q4 24 | $18.5M | $6.2M | ||
| Q3 24 | $19.1M | $37.2M | ||
| Q2 24 | $-3.8M | $52.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-329.0K | $14.1M | ||
| Q3 25 | $-6.1M | $45.2M | ||
| Q2 25 | $-15.0M | $29.1M | ||
| Q1 25 | $-5.8M | $-50.3M | ||
| Q4 24 | $733.0K | $-98.0K | ||
| Q3 24 | $287.0K | $33.2M | ||
| Q2 24 | $-23.0M | $47.9M |
| Q1 26 | — | — | ||
| Q4 25 | -0.2% | 14.1% | ||
| Q3 25 | -3.4% | 27.9% | ||
| Q2 25 | -7.2% | 16.8% | ||
| Q1 25 | -2.7% | -45.2% | ||
| Q4 24 | 0.3% | -0.1% | ||
| Q3 24 | 0.1% | 22.1% | ||
| Q2 24 | -13.3% | 29.9% |
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | 9.2% | ||
| Q3 25 | 6.7% | 3.6% | ||
| Q2 25 | 8.6% | 4.0% | ||
| Q1 25 | 6.8% | 3.1% | ||
| Q4 24 | 8.0% | 7.2% | ||
| Q3 24 | 9.7% | 2.7% | ||
| Q2 24 | 11.1% | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | 8.76× | — | ||
| Q4 24 | 12.54× | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
SWIM
Segment breakdown not available.
