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Target Hospitality Corp.（TH）与TELOS CORP（TLS）财务数据对比。点击上方公司名可切换其他公司
Target Hospitality Corp.的季度营收约是TELOS CORP的1.6倍（$73.5M vs $46.8M），Target Hospitality Corp.净利率更高（-20.3% vs -34.9%，领先14.5%），TELOS CORP同比增速更快（77.4% vs 22.0%），过去两年TELOS CORP的营收复合增速更高（25.7% vs 0.7%）
Target Hospitality是一家专业住宿服务提供商，主营石油、天然气及矿业项目用工住宿，也提供大型活动、灾后救援所需的临时模块化住宿，总部位于得克萨斯州伍德兰兹，同时在北达科他州威利斯顿、科罗拉多州丹佛以及阿尔伯塔省卡尔加里设有办事处。
泰洛斯公司（Telos Corporation）是一家信息技术与网络安全企业，总部位于美国弗吉尼亚州阿什本。公司主要服务对象为政府与企业客户，业务合同大部分来自美国国防部，核心客户涵盖美国军方、情报机构、民政部门以及北约盟友机构。
TH vs TLS — 直观对比
营收规模更大
TH
是对方的1.6倍
$46.8M
营收增速更快
TLS
高出55.4%
22.0%
净利率更高
TH
高出14.5%
-34.9%
两年增速更快
TLS
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $73.5M | $46.8M |
| 净利润 | $-14.9M | $-16.3M |
| 毛利率 | 9.6% | 35.0% |
| 营业利润率 | -22.9% | -39.6% |
| 净利率 | -20.3% | -34.9% |
| 营收同比 | 22.0% | 77.4% |
| 净利润同比 | -219.1% | -74.8% |
| 每股收益（稀释后） | $-0.14 | $-0.22 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收THTLS
| Q4 25 | $73.5M | $46.8M | ||
| Q3 25 | $91.6M | $51.4M | ||
| Q2 25 | $54.9M | $36.0M | ||
| Q1 25 | $54.9M | $30.6M | ||
| Q4 24 | $60.2M | $26.4M | ||
| Q3 24 | $65.8M | $23.8M | ||
| Q2 24 | $67.5M | $28.5M | ||
| Q1 24 | $72.4M | $29.6M |
净利润THTLS
| Q4 25 | $-14.9M | $-16.3M | ||
| Q3 25 | $-795.0K | $-2.1M | ||
| Q2 25 | $-14.9M | $-9.5M | ||
| Q1 25 | $-6.5M | $-8.6M | ||
| Q4 24 | $12.5M | $-9.3M | ||
| Q3 24 | $20.0M | $-28.1M | ||
| Q2 24 | $18.4M | $-7.8M | ||
| Q1 24 | $20.4M | $-7.4M |
毛利率THTLS
| Q4 25 | 9.6% | 35.0% | ||
| Q3 25 | 19.6% | 39.9% | ||
| Q2 25 | -0.6% | 33.2% | ||
| Q1 25 | 32.7% | 39.8% | ||
| Q4 24 | 61.5% | 40.3% | ||
| Q3 24 | 68.7% | 13.2% | ||
| Q2 24 | 69.4% | 34.1% | ||
| Q1 24 | 67.8% | 37.0% |
营业利润率THTLS
| Q4 25 | -22.9% | -39.6% | ||
| Q3 25 | 0.1% | -4.8% | ||
| Q2 25 | -30.8% | -27.5% | ||
| Q1 25 | -2.0% | -29.5% | ||
| Q4 24 | 34.5% | -37.6% | ||
| Q3 24 | 42.5% | -121.4% | ||
| Q2 24 | 43.8% | -30.3% | ||
| Q1 24 | 42.0% | -28.5% |
净利率THTLS
| Q4 25 | -20.3% | -34.9% | ||
| Q3 25 | -0.9% | -4.1% | ||
| Q2 25 | -27.2% | -26.5% | ||
| Q1 25 | -11.8% | -28.1% | ||
| Q4 24 | 20.8% | -35.4% | ||
| Q3 24 | 30.4% | -118.0% | ||
| Q2 24 | 27.2% | -27.2% | ||
| Q1 24 | 28.2% | -24.9% |
每股收益（稀释后）THTLS
| Q4 25 | $-0.14 | $-0.22 | ||
| Q3 25 | $-0.01 | $-0.03 | ||
| Q2 25 | $-0.15 | $-0.13 | ||
| Q1 25 | $-0.07 | $-0.12 | ||
| Q4 24 | $0.12 | $-0.13 | ||
| Q3 24 | $0.20 | $-0.39 | ||
| Q2 24 | $0.18 | $-0.11 | ||
| Q1 24 | $0.20 | $-0.10 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $8.3M | $53.2M |
| 总债务越低越好 | $1.7M | — |
| 股东权益账面价值 | $389.3M | $96.0M |
| 总资产 | $530.2M | $139.9M |
| 负债/权益比越低杠杆越低 | 0.00× | — |
8季度趋势，按日历期对齐
现金及短期投资THTLS
| Q4 25 | $8.3M | $53.2M | ||
| Q3 25 | $30.4M | $59.0M | ||
| Q2 25 | $19.2M | $57.0M | ||
| Q1 25 | $34.5M | $57.8M | ||
| Q4 24 | $190.7M | $54.6M | ||
| Q3 24 | $177.7M | $69.8M | ||
| Q2 24 | $154.3M | $80.1M | ||
| Q1 24 | $124.3M | $93.9M |
总债务THTLS
| 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 | — |
股东权益THTLS
| Q4 25 | $389.3M | $96.0M | ||
| Q3 25 | $402.4M | $119.7M | ||
| Q2 25 | $401.3M | $118.4M | ||
| Q1 25 | $415.3M | $126.1M | ||
| Q4 24 | $421.1M | $127.1M | ||
| Q3 24 | $417.6M | $129.5M | ||
| Q2 24 | $397.2M | $149.1M | ||
| Q1 24 | $375.5M | $154.4M |
总资产THTLS
| Q4 25 | $530.2M | $139.9M | ||
| Q3 25 | $541.2M | $164.3M | ||
| Q2 25 | $533.7M | $165.0M | ||
| Q1 25 | $562.5M | $158.1M | ||
| Q4 24 | $725.8M | $158.2M | ||
| Q3 24 | $709.8M | $166.3M | ||
| Q2 24 | $697.0M | $182.4M | ||
| Q1 24 | $687.2M | $195.4M |
负债/权益比THTLS
| 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× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $5.7M | $8.0M |
| 自由现金流经营现金流 - 资本支出 | — | $8.0M |
| 自由现金流率自由现金流/营收 | — | 17.0% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $29.4M |
8季度趋势，按日历期对齐
经营现金流THTLS
| Q4 25 | $5.7M | $8.0M | ||
| Q3 25 | $53.4M | $9.1M | ||
| Q2 25 | $11.1M | $7.0M | ||
| Q1 25 | $3.9M | $6.1M | ||
| Q4 24 | $30.6M | $-10.5M | ||
| Q3 24 | $31.4M | $-7.1M | ||
| Q2 24 | $39.1M | $-8.0M | ||
| Q1 24 | $50.6M | $-350.0K |
自由现金流THTLS
| Q4 25 | — | $8.0M | ||
| Q3 25 | — | $8.7M | ||
| Q2 25 | — | $6.8M | ||
| Q1 25 | $-11.6M | $6.0M | ||
| Q4 24 | — | $-12.4M | ||
| Q3 24 | — | $-7.1M | ||
| Q2 24 | — | $-8.2M | ||
| Q1 24 | — | $-447.0K |
自由现金流率THTLS
| Q4 25 | — | 17.0% | ||
| Q3 25 | — | 16.9% | ||
| Q2 25 | — | 19.0% | ||
| Q1 25 | -21.1% | 19.5% | ||
| Q4 24 | — | -47.0% | ||
| Q3 24 | — | -30.0% | ||
| Q2 24 | — | -28.9% | ||
| Q1 24 | — | -1.5% |
资本支出强度THTLS
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | 28.2% | 0.4% | ||
| Q4 24 | — | 7.1% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 0.3% |
现金转化率THTLS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.44× | — | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 2.13× | — | ||
| Q1 24 | 2.48× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
