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Side-by-side financial comparison of Target Hospitality Corp. (TH) and Vitesse Energy, Inc. (VTS). Click either name above to swap in a different company.
Target Hospitality Corp. is the larger business by last-quarter revenue ($73.5M vs $58.6M, roughly 1.3× Vitesse Energy, Inc.). Vitesse Energy, Inc. runs the higher net margin — -1.3% vs -20.3%, a 19.1% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 4.8%). Over the past eight quarters, Target Hospitality Corp.'s revenue compounded faster (0.7% CAGR vs -2.1%).
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.
Vitesse Energy, Inc. is a U.S.-headquartered independent energy company focused on exploration, development, and production of oil and natural gas assets. It operates primarily in high-potential onshore basins including North Dakota's Williston Basin, serving domestic and global upstream energy market demand.
TH vs VTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.5M | $58.6M |
| Net Profit | $-14.9M | $-739.0K |
| Gross Margin | 9.6% | — |
| Operating Margin | -22.9% | -12.0% |
| Net Margin | -20.3% | -1.3% |
| Revenue YoY | 22.0% | 4.8% |
| Net Profit YoY | -219.1% | 85.6% |
| EPS (diluted) | $-0.14 | $-0.01 |
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 | $73.5M | $58.6M | ||
| Q3 25 | $91.6M | $67.4M | ||
| Q2 25 | $54.9M | $81.8M | ||
| Q1 25 | $54.9M | $66.2M | ||
| Q4 24 | $60.2M | $55.9M | ||
| Q3 24 | $65.8M | $58.3M | ||
| Q2 24 | $67.5M | $66.6M | ||
| Q1 24 | $72.4M | $61.2M |
| Q4 25 | $-14.9M | $-739.0K | ||
| Q3 25 | $-795.0K | $-1.3M | ||
| Q2 25 | $-14.9M | $24.7M | ||
| Q1 25 | $-6.5M | $2.7M | ||
| Q4 24 | $12.5M | $-5.1M | ||
| Q3 24 | $20.0M | $17.4M | ||
| Q2 24 | $18.4M | $10.9M | ||
| Q1 24 | $20.4M | $-2.2M |
| Q4 25 | 9.6% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | -0.6% | — | ||
| Q1 25 | 32.7% | — | ||
| Q4 24 | 61.5% | — | ||
| Q3 24 | 68.7% | — | ||
| Q2 24 | 69.4% | — | ||
| Q1 24 | 67.8% | — |
| Q4 25 | -22.9% | -12.0% | ||
| Q3 25 | 0.1% | 0.2% | ||
| Q2 25 | -30.8% | 22.8% | ||
| Q1 25 | -2.0% | 8.1% | ||
| Q4 24 | 34.5% | 3.7% | ||
| Q3 24 | 42.5% | 15.4% | ||
| Q2 24 | 43.8% | 25.2% | ||
| Q1 24 | 42.0% | 21.4% |
| Q4 25 | -20.3% | -1.3% | ||
| Q3 25 | -0.9% | -1.9% | ||
| Q2 25 | -27.2% | 30.2% | ||
| Q1 25 | -11.8% | 4.0% | ||
| Q4 24 | 20.8% | -9.2% | ||
| Q3 24 | 30.4% | 29.9% | ||
| Q2 24 | 27.2% | 16.4% | ||
| Q1 24 | 28.2% | -3.6% |
| Q4 25 | $-0.14 | $-0.01 | ||
| Q3 25 | $-0.01 | $-0.03 | ||
| Q2 25 | $-0.15 | $0.60 | ||
| Q1 25 | $-0.07 | $0.08 | ||
| Q4 24 | $0.12 | $-0.15 | ||
| Q3 24 | $0.20 | $0.53 | ||
| Q2 24 | $0.18 | $0.33 | ||
| Q1 24 | $0.20 | $-0.07 |
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 | — |
| Total DebtLower is stronger | $1.7M | — |
| Stockholders' EquityBook value | $389.3M | $629.3M |
| Total Assets | $530.2M | $893.4M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.3M | — | ||
| Q3 25 | $30.4M | — | ||
| Q2 25 | $19.2M | — | ||
| Q1 25 | $34.5M | $4.5M | ||
| Q4 24 | $190.7M | $3.0M | ||
| Q3 24 | $177.7M | — | ||
| Q2 24 | $154.3M | — | ||
| Q1 24 | $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 | $389.3M | $629.3M | ||
| Q3 25 | $402.4M | $650.3M | ||
| Q2 25 | $401.3M | $671.9M | ||
| Q1 25 | $415.3M | $667.7M | ||
| Q4 24 | $421.1M | $500.3M | ||
| Q3 24 | $417.6M | $520.4M | ||
| Q2 24 | $397.2M | $518.5M | ||
| Q1 24 | $375.5M | $522.7M |
| Q4 25 | $530.2M | $893.4M | ||
| Q3 25 | $541.2M | $932.9M | ||
| Q2 25 | $533.7M | $951.5M | ||
| Q1 25 | $562.5M | $975.2M | ||
| Q4 24 | $725.8M | $810.9M | ||
| Q3 24 | $709.8M | $791.2M | ||
| Q2 24 | $697.0M | $778.4M | ||
| Q1 24 | $687.2M | $749.7M |
| 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 | $5.7M | $37.4M |
| 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 | $5.7M | $37.4M | ||
| Q3 25 | $53.4M | $49.4M | ||
| Q2 25 | $11.1M | $66.0M | ||
| Q1 25 | $3.9M | $17.5M | ||
| Q4 24 | $30.6M | $34.7M | ||
| Q3 24 | $31.4M | $45.7M | ||
| Q2 24 | $39.1M | $35.2M | ||
| Q1 24 | $50.6M | $39.4M |
| 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 | — | 2.68× | ||
| Q1 25 | — | 6.56× | ||
| Q4 24 | 2.44× | — | ||
| Q3 24 | 1.57× | 2.62× | ||
| Q2 24 | 2.13× | 3.22× | ||
| Q1 24 | 2.48× | — |
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% |
VTS
| Oil Reserves | $54.5M | 93% |
| Natural Gas Reserves | $4.2M | 7% |
