TH
Target Hospitality Corp.
TH's outlook is improving, though it still trails on the overall score.
VRT
Vertiv Holdings Co
VRT has the edge over TH overall, supported by stronger valuation and stronger fundamentals.
TH Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Strong | |
| Weak |
TH's revenue and cash flow are currently strong, but its profitability and balance sheet are weak.
VRT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
VRT's revenue, profitability, cash flow and balance sheet are all currently strong.
TH PE Valuation
TH has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 19x next year's earnings.
VRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $210 | — |
| Current | 39x | $210 | — |
| Cheap | 58x | $308 | +47% |
| Fair | 72x | $383 | +83% |
| Expensive | 88x | $472 | +125% |
Historical ranges are pointers, not guarantees.
VRT's PE is in its cheap range at 39x. If earnings grow as analysts expect, today's price would be 23x next year's earnings.
TH Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect TH to return to profit, with revenue growing. However, they disagree widely on these estimates.
VRT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for VRT, with profitability improving.
TH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.64 | — |
| Q3 2026 | -$0.45 | -$0.34 |
| Q2 2026 | -$0.37 | -470% |
| Q1 2026 | -$0.43 | -200% |
| Q4 2025 | -$0.37 | -153% |
| Q3 2025 | -$0.11 | -112% |
| Q2 2025 | $0.10 | -91% |
| Q1 2025 | $0.43 | -69% |
| Q4 2024 | $0.70 | -55% |
TH lost $0.45 per share over the past year, a bigger loss than the year before.
VRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.14 | +71% |
| Q3 2026 | $5.35 | +102% |
| Q2 2026 | $4.42 | +111% |
| Q1 2026 | $3.98 | +131% |
| Q4 2025 | $3.41 | +166% |
| Q3 2025 | $2.65 | +75% |
| Q2 2025 | $2.09 | +62% |
| Q1 2025 | $1.72 | +64% |
| Q4 2024 | $1.28 | +7.6% |
VRT has the edge over TH on earnings quality, reporting a profit while its opponent remains loss making.
TH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $129.1M | +30% |
| Q2 2026 | $85.5M | +39% |
| Q1 2026 | $72.8M | +4.1% |
| Q4 2025 | $89.8M | +7.3% |
| Q3 2025 | $99.4M | +4.4% |
| Q2 2025 | $61.6M | -39% |
| Q1 2025 | $69.9M | -34% |
| Q4 2024 | $83.7M | -34% |
TH's revenue is recovering but still below its 2022 peak: $129M last quarter, up 30% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 2.3% | +2.2 points |
| Q2 2026 | -8.8% | +19 points |
| Q1 2026 | -20% | -18 points |
| Q4 2025 | -19% | -44 points |
| Q3 2025 | 0.1% | -29 points |
| Q2 2025 | -27% | -57 points |
| Q1 2025 | -1.5% | -30 points |
| Q4 2024 | 25% | -12 points |
TH's operating margin was 2.3% last quarter, up 2.2 points from the same quarter a year ago.
VRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.3B | +61% |
| Q2 2026 | $3.3B | +24% |
| Q1 2026 | $2.6B | +30% |
| Q4 2025 | $2.9B | +23% |
| Q3 2025 | $2.7B | +29% |
| Q2 2025 | $2.6B | +35% |
| Q1 2025 | $2B | +24% |
| Q4 2024 | $2.3B | +26% |
VRT has the edge over TH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +3.5 points |
| Q2 2026 | 19% | +2.7 points |
| Q1 2026 | 17% | +2.3 points |
| Q4 2025 | 20% | +0.7 points |
| Q3 2025 | 19% | +1.4 points |
| Q2 2025 | 17% | -0.4 points |
| Q1 2025 | 14% | +1.9 points |
| Q4 2024 | 19% | +4.2 points |
VRT has the edge over TH on profitability, with a higher operating margin.
TH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $40.4M | -24% |
| Q2 2026 | $96.2M | +772% |
| Q1 2026 | $6.9M | +$18.4M |
| Q4 2025 | $5.7M | -81% |
| Q3 2025 | $53.3M | +70% |
| Q2 2025 | $11M | -72% |
| Q1 2025 | -$11.6M | -123% |
| Q4 2024 | $30.2M | -21% |
TH still generates free cash flow, though less than at its 2022 peak: $149M over the past year.
VRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $654.9M | +41% |
| Q2 2026 | $926.5M | +233% |
| Q1 2026 | $654.2M | +145% |
| Q4 2025 | $885.6M | +143% |
| Q3 2025 | $463.5M | +36% |
| Q2 2025 | $277.9M | -19% |
| Q1 2025 | $266.8M | +162% |
| Q4 2024 | $364.5M | +18% |
VRT has the edge over TH on cash flow, with more consistent year-over-year improvement.
TH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -315K shares |
| 1 year | +0.1% | +121K shares |
| 3 years | -4.9% | -5.2M shares |
| 5 years | +3.2% | +3.1M shares |
| Available history | +2.1% | +2.1M shares |
TH has the edge over VRT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2024 | $11.6M |
| Q3 2024 | $1.1M |
| Q2 2024 | $23,000 |
| Q1 2024 | $21.2M |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | $5.3M |
VRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -64.9K shares |
| 1 year | +0.4% | +1.8M shares |
| 3 years | +1.1% | +4.4M shares |
| 5 years | +10% | +36M shares |
| Available history | +63% | +152M shares |
VRT has 393M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $599.9M |
TH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.5x | High |
| Q2 2026 | 1.0x | Very low |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | -0.4x | Net Cash |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | -0.1x | Net Cash |
TH's net debt is about 4.5 years of its operating earnings (EBITDA), after holding more cash than debt a year ago.
VRT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 1.0x | Healthy |
VRT has the edge over TH on leverage, with a lower net debt burden relative to earnings.
TH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.1 | Neutral |
| Stochastic | 12.4 | Oversold |
TH's weekly RSI is 37 (neutral) and its Stochastic is 12 (oversold).
VRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 26.4 | Neutral |
VRT's weekly RSI is 43 (neutral) and its Stochastic is 26 (neutral).
TH PE vs Industrials Sector
| Metric | TH | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
TH has no meaningful PE right now: it lost money over the past year.
VRT PE vs Industrials Sector
| Metric | VRT | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 24x | 63% above |
| PE % | 3 | 58 | 55 pts below |
VRT is trading at 39x earnings, a 63% premium to the Industrials sector's median of 24x.
TH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $15.5 | 23% below |
| 20 week MA | $16.9 | 29% below |
| 50 week MA | $13.8 | 13% below |
| 100 week MA | $10.8 | 11% above |
| 200 week MA | $11.2 | 6.8% above |
TH has slipped below its 8-, 20- and 50-week averages, though it's still 6.8% above its 200-week average.
VRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $221.8 | 5.5% below |
| 20 week MA | $254.4 | 18% below |
| 50 week MA | $253.9 | 17% below |
| 100 week MA | $189.1 | 11% above |
| 200 week MA | $123.5 | 70% above |
VRT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 70% above its 200-week average.
TH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $4.92 | $1.61 | -67% |
| 2021 | $1.61 | $3.31 | +106% |
| 2022 | $3.31 | $15.5 | +369% |
| 2023 | $15.5 | $9.73 | -37% |
| 2024 | $9.73 | $9.88 | +1.5% |
| 2025 | $9.88 | $8.48 | -14% |
| 2026 YTD | $8.48 | $12.0 | +41% |
TH has the edge over VRT on returns for 2026, with the stronger performance.
VRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.9 | $18.9 | +73% |
| 2021 | $18.9 | $24.9 | +31% |
| 2022 | $24.9 | $12.8 | -48% |
| 2023 | $12.8 | $48.0 | +275% |
| 2024 | $48.0 | $115.1 | +140% |
| 2025 | $115.1 | $167.6 | +46% |
| 2026 YTD | $167.6 | $209.6 | +25% |
VRT's yearly returns have swung widely, from +275% in 2023 to −48% in 2022. It's up 25% so far in 2026.