balance equationreview2019-12-31
Difference 66555000 exceeds tolerance 1000000. Presentation or filing-vintage differences need review.
Revenue
$320.64M
Fiscal year ended 2025-12-31Operating income
-$34.75M
Fiscal year ended 2025-12-31Free cash flow
Unavailable
Fiscal year ended 2025-12-31Target Hospitality Corp. (TH) reported revenue of $320.64M and net income of -$37.12M for the fiscal year ended 2025-12-31. This page shows 9 annual periods of income statement, balance sheet and cash flow figures normalized from Target Hospitality Corp.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Hotels, Rooming Houses, Camps & Other Lodging Places.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $320.64M | $386.27M | $563.61M | $501.98M | $291.34M | $225.15M | $321.10M | $240.60M | $134.24M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | $42.66M | $178.18M | $313.32M | $247.13M | $101.35M | $57.16M | $147.01M | $90.23M | $53.05M |
| Operating income | -$34.75M | $108.78M | $240.61M | $174.37M | $37.10M | $4.10M | $47.97M | $40.91M | $21.46M |
| Net income | -$37.12M | $71.26M | $173.70M | $73.94M | -$4.58M | -$25.13M | $11.97M | $4.96M | $981.00K |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 99.52M | shares 101.43M | shares 105.32M | shares 100.06M | shares 96.61M | shares 96.02M | shares 94.50M | Unavailable | Unavailable |
| Pretax income | -$43.20M | $92.84M | $224.75M | $106.31M | -$2.67M | -$33.59M | $19.58M | $16.71M | $26.56M |
| Income tax expense | -$6.13M | $21.43M | $51.05M | $32.37M | $1.90M | -$8.46M | $7.61M | $11.76M | $25.58M |
| Diluted EPS | $-0.37 | $0.70 | $1.56 | $0.74 | $-0.05 | $-0.26 | $0.13 | Unavailable | Unavailable |
| Selling, general & administrative | $58.51M | $54.26M | $56.13M | $57.89M | $46.46M | $38.13M | $76.65M | $41.34M | $24.34M |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $1.62M | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $8.35M | $190.67M | $103.93M | $181.67M | $23.41M | $6.98M | $6.79M | $12.19M | $12.53M |
| Total assets | $530.20M | $725.77M | $694.35M | $771.73M | $513.39M | $534.24M | $534.24M | $565.03M | $242.09K |
| Current assets | $73.34M | $249.34M | $180.50M | $236.38M | $60.54M | $43.56M | $60.80M | $74.99M | $0 |
| Total liabilities | $141.14M | $304.68M | $317.05M | $570.88M | $416.12M | $435.35M | $480.27M | $216.04M | $225.89K |
| Current liabilities | $84.04M | $233.40M | $70.33M | $190.90M | $72.80M | $45.53M | $60.92M | $65.15M | $225.89K |
| Total equity incl. NCI | $389.06M | $421.09M | $377.31M | $200.85M | $97.27M | $98.89M | $120.52M | $348.99M | $24.90M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $313.52M | $0 |
| Inventory | $2.10M | $1.90M | $2.10M | $2.00M | $1.60M | $900.00K | $1.10M | $900.00K | Unavailable |
| Accounts receivable | $56.20M | $49.34M | $67.09M | $42.15M | $28.78M | $28.18M | $48.48M | $57.11M | Unavailable |
| Goodwill | $41.04M | $41.04M | $41.04M | $41.04M | $41.04M | $41.04M | $41.04M | $34.18M | Unavailable |
| Long-term debt | $1.68M | $1.45M | $179.12M | $329.94M | $330.91M | $374.77M | $404.25M | $20.56M | Unavailable |
| Accounts payable | $44.39M | $16.19M | $20.93M | $17.56M | $11.80M | $10.64M | $7.79M | $21.60M | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $74.09M | $151.68M | $156.80M | $305.61M | $104.60M | $46.78M | $60.50M | $26.20M | $40.77M |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Investing cash flow | -$67.79M | -$28.84M | -$68.18M | -$140.23M | -$35.92M | -$10.95M | -$112.70M | -$220.66M | -$130.25M |
| Financing cash flow | -$188.64M | -$36.06M | -$166.37M | -$7.10M | -$52.27M | -$35.68M | $46.65M | $194.55M | $98.06M |
| Net change in cash | -$182.32M | $86.74M | -$77.74M | $158.27M | $16.43M | $140.00K | -$5.61M | -$82.00K | $8.72M |
| Stock-based compensation | $7.55M | $7.31M | $11.17M | $19.24M | $5.08M | $3.61M | $1.75M | Unavailable | Unavailable |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | Unavailable | $33.50M | Unavailable | Unavailable | Unavailable | $5.32M | $18.24M | Unavailable | Unavailable |
| Depreciation & amortization | $73.39M | $72.81M | $83.98M | $67.66M | $70.52M | $65.61M | $58.90M | $39.13M | $30.14M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | 13.3% | 46.1% | 55.6% | 49.2% | 34.8% | 25.4% | 45.8% | 37.5% | 39.5% |
| Operating margin | -10.8% | 28.2% | 42.7% | 34.7% | 12.7% | 1.8% | 14.9% | 17.0% | 16.0% |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | 2.4% | 1.9% | 2.0% | 3.8% | 1.7% | 1.6% | 0.5% | Unavailable | Unavailable |
| Current ratio | 0.87x | 1.07x | 2.57x | 1.24x | 0.83x | 0.96x | 1.00x | 1.15x | 0.00x |
| Revenue YoY growth | -17.0% | -31.5% | 12.3% | 72.3% | 29.4% | -29.9% | 33.5% | 79.2% | Unavailable |
| Net margin | -11.6% | 18.4% | 30.8% | 14.7% | -1.6% | -11.2% | 3.7% | 2.1% | 0.7% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 0.00x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | 23.1% | 22.7% | 30.4% | Unavailable | Unavailable | 38.9% | 70.3% | 96.3% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open TH in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-10View SEC filing
10-Q · Filed 2026-05-11View SEC filing
10-K · Filed 2026-03-11View SEC filing
10-Q · Filed 2025-11-06View SEC filing
10-Q · Filed 2025-08-07View SEC filing
10-Q · Filed 2025-05-19View SEC filing
Reconciliation checks needing review
3 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.
balance equationreview2018-12-31
Difference 313519200 exceeds tolerance 1000000. Presentation or filing-vintage differences need review.
balance equationreview2017-12-31
Difference 24887806 exceeds tolerance 1000000. Presentation or filing-vintage differences need review.