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Side-by-side financial comparison of Target Hospitality Corp. (TH) and Veris Residential, Inc. (VRE). Click either name above to swap in a different company.
Target Hospitality Corp. is the larger business by last-quarter revenue ($73.5M vs $70.1M, roughly 1.0× Veris Residential, Inc.). Veris Residential, Inc. runs the higher net margin — -20.0% vs -20.3%, a 0.4% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 3.5%). Over the past eight quarters, Veris Residential, Inc.'s revenue compounded faster (1.9% 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.
Veris Residential, Inc. is an American real estate investment trust headquartered in Jersey City, New Jersey, investing primarily in apartments in New Jersey and Boston.
TH vs VRE — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $73.5M | $70.1M |
| Net Profit | $-14.9M | $-14.0M |
| Gross Margin | 9.6% | 95.9% |
| Operating Margin | -22.9% | -22.2% |
| Net Margin | -20.3% | -20.0% |
| Revenue YoY | 22.0% | 3.5% |
| Net Profit YoY | -219.1% | -30.9% |
| EPS (diluted) | $-0.14 | $-0.15 |
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 | — | $70.1M | ||
| Q4 25 | $73.5M | $71.3M | ||
| Q3 25 | $91.6M | $73.4M | ||
| Q2 25 | $54.9M | $75.9M | ||
| Q1 25 | $54.9M | $67.8M | ||
| Q4 24 | $60.2M | $68.1M | ||
| Q3 24 | $65.8M | $68.2M | ||
| Q2 24 | $67.5M | $67.5M |
| Q1 26 | — | $-14.0M | ||
| Q4 25 | $-14.9M | $-203.0K | ||
| Q3 25 | $-795.0K | $75.2M | ||
| Q2 25 | $-14.9M | $10.9M | ||
| Q1 25 | $-6.5M | $-10.7M | ||
| Q4 24 | $12.5M | $-12.4M | ||
| Q3 24 | $20.0M | $-9.7M | ||
| Q2 24 | $18.4M | $2.9M |
| Q1 26 | — | 95.9% | ||
| Q4 25 | 9.6% | 97.2% | ||
| Q3 25 | 19.6% | 96.8% | ||
| Q2 25 | -0.6% | 97.2% | ||
| Q1 25 | 32.7% | 95.9% | ||
| Q4 24 | 61.5% | 97.1% | ||
| Q3 24 | 68.7% | 96.9% | ||
| Q2 24 | 69.4% | 97.3% |
| Q1 26 | — | -22.2% | ||
| Q4 25 | -22.9% | -0.9% | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | -30.8% | 15.8% | ||
| Q1 25 | -2.0% | -20.4% | ||
| Q4 24 | 34.5% | -21.9% | ||
| Q3 24 | 42.5% | -16.2% | ||
| Q2 24 | 43.8% | 2.2% |
| Q1 26 | — | -20.0% | ||
| Q4 25 | -20.3% | -0.3% | ||
| Q3 25 | -0.9% | 102.4% | ||
| Q2 25 | -27.2% | 14.4% | ||
| Q1 25 | -11.8% | -15.8% | ||
| Q4 24 | 20.8% | -18.3% | ||
| Q3 24 | 30.4% | -14.2% | ||
| Q2 24 | 27.2% | 4.3% |
| Q1 26 | — | $-0.15 | ||
| Q4 25 | $-0.14 | $0.00 | ||
| Q3 25 | $-0.01 | $0.80 | ||
| Q2 25 | $-0.15 | $0.12 | ||
| Q1 25 | $-0.07 | $-0.12 | ||
| Q4 24 | $0.12 | $-0.14 | ||
| Q3 24 | $0.20 | $-0.10 | ||
| 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 | $9.4M |
| Total DebtLower is stronger | $1.7M | — |
| Stockholders' EquityBook value | $389.3M | $1.1B |
| Total Assets | $530.2M | $2.7B |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $9.4M | ||
| Q4 25 | $8.3M | $14.1M | ||
| Q3 25 | $30.4M | $8.8M | ||
| Q2 25 | $19.2M | $11.4M | ||
| Q1 25 | $34.5M | $7.6M | ||
| Q4 24 | $190.7M | $7.3M | ||
| Q3 24 | $177.7M | $12.8M | ||
| Q2 24 | $154.3M | $18.4M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7M | $1.4B | ||
| Q3 25 | $2.0M | — | ||
| Q2 25 | $26.3M | — | ||
| Q1 25 | $42.9M | — | ||
| Q4 24 | $1.5M | $1.7B | ||
| Q3 24 | $994.0K | — | ||
| Q2 24 | $1.1M | — |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $389.3M | $1.2B | ||
| Q3 25 | $402.4M | $1.2B | ||
| Q2 25 | $401.3M | $1.1B | ||
| Q1 25 | $415.3M | $1.1B | ||
| Q4 24 | $421.1M | $1.1B | ||
| Q3 24 | $417.6M | $1.1B | ||
| Q2 24 | $397.2M | $1.1B |
| Q1 26 | — | $2.7B | ||
| Q4 25 | $530.2M | $2.7B | ||
| Q3 25 | $541.2M | $2.8B | ||
| Q2 25 | $533.7M | $3.1B | ||
| Q1 25 | $562.5M | $3.0B | ||
| Q4 24 | $725.8M | $3.0B | ||
| Q3 24 | $709.8M | $3.0B | ||
| Q2 24 | $697.0M | $3.0B |
| Q1 26 | — | — | ||
| Q4 25 | 0.00× | 1.18× | ||
| Q3 25 | 0.01× | — | ||
| Q2 25 | 0.07× | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | 0.00× | 1.52× | ||
| 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 | $14.0M |
| 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 | — | $14.0M | ||
| Q4 25 | $5.7M | $76.0M | ||
| Q3 25 | $53.4M | $13.5M | ||
| Q2 25 | $11.1M | $23.8M | ||
| Q1 25 | $3.9M | $13.2M | ||
| Q4 24 | $30.6M | $52.3M | ||
| Q3 24 | $31.4M | $13.9M | ||
| Q2 24 | $39.1M | $10.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-11.6M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -21.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 28.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.18× | ||
| Q2 25 | — | 2.18× | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.44× | — | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 2.13× | 3.71× |
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% |
VRE
Segment breakdown not available.
