Target Hospitality Corp. (TH) vs Acuren Corporation (TIC)

Target Hospitality Corp. and Acuren Corporation are both Specialty Business Services companies. Target Hospitality Corp. is the larger, with a market value of $2.2B against $1.9B — 1.1× the size. Acuren Corporation grew revenue faster over the last twelve months: 84.6% against 11.9%. Acuren Corporation has the higher net margin (−5.94% vs −10.9%) and the higher return on invested capital (−0.83% vs −5.94%). Across the 19 metrics below, Acuren Corporation leads on 15 and Target Hospitality Corp. on 4.

Valuation

Metric TH TIC Specialty Business Services median
P/E n/m n/m 23.86
P/S 5.94 0.94 1.06
P/B 5.58 0.92 2.37
Price to free cash flow 197.76 67.92 16.54
EV/EBITDA 55.08 15.72 11.51
EV/Sales 6.56 1.55 1.51
Earnings yield (1.83%) (6.51%) 2.14%
Free cash flow yield 0.51% 1.47% 1.55%

Profitability

Metric TH TIC Specialty Business Services median
Gross margin 13.73% 33.93% 35.31%
Operating margin (11.10%) (2.15%) 3.43%
Net margin (10.85%) (5.94%) 1.67%
Free cash flow margin 3.00% 1.39% 3.28%
Return on equity (9.78%) (7.46%) 0.58%
Return on assets (6.34%) (3.74%) 0.33%
Return on invested capital (5.94%) (0.83%) 0.65%

Growth

Metric TH TIC Specialty Business Services median
Revenue growth (TTM) 11.92% 84.56% 6.04%
EPS growth (last fiscal year) (152.86%) 39.85% —
Revenue growth, 5-year CAGR 7.33% — 7.66%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric TH TIC Specialty Business Services median
Debt to equity 0.11 0.77 0.21
Current ratio 0.65 2.91 1.62
Net debt to EBITDA (0.17) 7.05 1.16

Dividend

Metric TH TIC Specialty Business Services median
Dividend yield — — 1.61%
Payout ratio 0.00 — 0.00

Size

Metric TH TIC Specialty Business Services median
Market cap 2.16b 1.94b 879.14m

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