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Side-by-side financial comparison of Target Hospitality Corp. (TH) and VICOR CORP (VICR). Click either name above to swap in a different company.
VICOR CORP is the larger business by last-quarter revenue ($113.0M vs $73.5M, roughly 1.5× Target Hospitality Corp.). VICOR CORP runs the higher net margin — 18.3% vs -20.3%, a 38.6% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 20.2%). Over the past eight quarters, VICOR CORP's revenue compounded faster (14.7% CAGR vs 0.7%).
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.
Vicor Corporation is a manufacturer of power modules headquartered in Andover, Massachusetts.
TH vs VICR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $73.5M | $113.0M |
| Net Profit | $-14.9M | $20.7M |
| Gross Margin | 9.6% | — |
| Operating Margin | -22.9% | 59.7% |
| Net Margin | -20.3% | 18.3% |
| Revenue YoY | 22.0% | 20.2% |
| Net Profit YoY | -219.1% | 713.9% |
| EPS (diluted) | $-0.14 | $0.44 |
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 | — | $113.0M | ||
| Q4 25 | $73.5M | $107.3M | ||
| Q3 25 | $91.6M | $110.4M | ||
| Q2 25 | $54.9M | $96.0M | ||
| Q1 25 | $54.9M | $94.0M | ||
| Q4 24 | $60.2M | $96.2M | ||
| Q3 24 | $65.8M | $93.2M | ||
| Q2 24 | $67.5M | $85.9M |
| Q1 26 | — | $20.7M | ||
| Q4 25 | $-14.9M | $46.5M | ||
| Q3 25 | $-795.0K | $28.3M | ||
| Q2 25 | $-14.9M | $41.2M | ||
| Q1 25 | $-6.5M | $2.5M | ||
| Q4 24 | $12.5M | $10.2M | ||
| Q3 24 | $20.0M | $11.6M | ||
| Q2 24 | $18.4M | $-1.2M |
| Q1 26 | — | — | ||
| Q4 25 | 9.6% | 55.4% | ||
| Q3 25 | 19.6% | 57.5% | ||
| Q2 25 | -0.6% | 95.9% | ||
| Q1 25 | 32.7% | 47.2% | ||
| Q4 24 | 61.5% | 52.4% | ||
| Q3 24 | 68.7% | 49.1% | ||
| Q2 24 | 69.4% | 49.8% |
| Q1 26 | — | 59.7% | ||
| Q4 25 | -22.9% | 14.6% | ||
| Q3 25 | 0.1% | 18.9% | ||
| Q2 25 | -30.8% | 47.3% | ||
| Q1 25 | -2.0% | -0.2% | ||
| Q4 24 | 34.5% | 9.6% | ||
| Q3 24 | 42.5% | 5.8% | ||
| Q2 24 | 43.8% | 0.2% |
| Q1 26 | — | 18.3% | ||
| Q4 25 | -20.3% | 43.4% | ||
| Q3 25 | -0.9% | 25.6% | ||
| Q2 25 | -27.2% | 42.9% | ||
| Q1 25 | -11.8% | 2.7% | ||
| Q4 24 | 20.8% | 10.7% | ||
| Q3 24 | 30.4% | 12.4% | ||
| Q2 24 | 27.2% | -1.4% |
| Q1 26 | — | $0.44 | ||
| Q4 25 | $-0.14 | $1.01 | ||
| Q3 25 | $-0.01 | $0.63 | ||
| Q2 25 | $-0.15 | $0.91 | ||
| Q1 25 | $-0.07 | $0.06 | ||
| Q4 24 | $0.12 | $0.24 | ||
| Q3 24 | $0.20 | $0.26 | ||
| Q2 24 | $0.18 | $-0.03 |
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 | $404.2M |
| Total DebtLower is stronger | $1.7M | — |
| Stockholders' EquityBook value | $389.3M | $754.1M |
| Total Assets | $530.2M | $804.9M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $404.2M | ||
| Q4 25 | $8.3M | $402.8M | ||
| Q3 25 | $30.4M | $362.4M | ||
| Q2 25 | $19.2M | $338.5M | ||
| Q1 25 | $34.5M | $296.1M | ||
| Q4 24 | $190.7M | $277.3M | ||
| Q3 24 | $177.7M | $267.6M | ||
| Q2 24 | $154.3M | $251.9M |
| Q1 26 | — | — | ||
| 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 26 | — | $754.1M | ||
| Q4 25 | $389.3M | $711.6M | ||
| Q3 25 | $402.4M | $630.1M | ||
| Q2 25 | $401.3M | $608.6M | ||
| Q1 25 | $415.3M | $580.3M | ||
| Q4 24 | $421.1M | $570.1M | ||
| Q3 24 | $417.6M | $554.6M | ||
| Q2 24 | $397.2M | $537.2M |
| Q1 26 | — | $804.9M | ||
| Q4 25 | $530.2M | $785.8M | ||
| Q3 25 | $541.2M | $710.2M | ||
| Q2 25 | $533.7M | $693.5M | ||
| Q1 25 | $562.5M | $665.0M | ||
| Q4 24 | $725.8M | $641.1M | ||
| Q3 24 | $709.8M | $632.8M | ||
| Q2 24 | $697.0M | $613.2M |
| Q1 26 | — | — | ||
| 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× | — |
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 | $5.7M | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $5.7M | $15.7M | ||
| Q3 25 | $53.4M | $38.5M | ||
| Q2 25 | $11.1M | $65.2M | ||
| Q1 25 | $3.9M | $20.1M | ||
| Q4 24 | $30.6M | $10.1M | ||
| Q3 24 | $31.4M | $22.6M | ||
| Q2 24 | $39.1M | $15.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $10.2M | ||
| Q3 25 | — | $34.5M | ||
| Q2 25 | — | $59.0M | ||
| Q1 25 | $-11.6M | $15.6M | ||
| Q4 24 | — | $8.4M | ||
| Q3 24 | — | $14.1M | ||
| Q2 24 | — | $9.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 9.5% | ||
| Q3 25 | — | 31.2% | ||
| Q2 25 | — | 61.5% | ||
| Q1 25 | -21.1% | 16.6% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 15.2% | ||
| Q2 24 | — | 11.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | 28.2% | 4.8% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | — | 7.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.34× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.58× | ||
| Q1 25 | — | 7.93× | ||
| Q4 24 | 2.44× | 0.99× | ||
| Q3 24 | 1.57× | 1.95× | ||
| Q2 24 | 2.13× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
VICR
| Product revenue | $98.0M | 87% |
| Royalty revenue | $15.0M | 13% |
