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Stocks · Consumer discretionary · Hotels, Rooming Houses, Camps & Other Lodging Places

Target Hospitality Corp.

TH Clue Score45
United States Fiscal year ends December CIK 0001712189
$18.41 +0.44% Close, 9 Oct 2026
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Price $18.41 +387.04% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue75.4Operating income21.5Net income1.0Fiscal year 2018Revenue186.9 +147.8%Operating income40.9Net income5.0 +405.2%Fiscal year 2019Revenue261.3 +39.8%Operating income48.0Net income12.0 +141.6%EPS, diluted0.13Fiscal year 2020Revenue172.2 −34.1%Operating income4.1Net income−25.1 −309.9%EPS, diluted−0.26 −300.0%Fiscal year 2021Revenue214.4 +24.5%Operating income37.1Net income−4.6EPS, diluted−0.05Fiscal year 2022Revenue333.7 +55.6%Operating income174.4Net income73.9EPS, diluted0.74Fiscal year 2023Revenue365.6 +9.6%Operating income240.6Net income173.7 +134.9%EPS, diluted1.56 +110.8%Fiscal year 2024Revenue265.9 −27.3%Operating income108.8Net income71.3 −59.0%EPS, diluted0.70 −55.1%Fiscal year 2025Revenue274.8 +3.4%Operating income−34.7Net income−37.1 −152.1%EPS, diluted−0.37 −152.9%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 75.4 186.9 261.3 172.2 214.4 333.7 365.6 265.9 274.8
Growth +147.8% +39.8% −34.1% +24.5% +55.6% +9.6% −27.3% +3.4%
Operating income 21.5 40.9 48.0 4.1 37.1 174.4 240.6 108.8 −34.7
Net income 1.0 5.0 12.0 −25.1 −4.6 73.9 173.7 71.3 −37.1
Growth +405.2% +141.6% −309.9% +134.9% −59.0% −152.1%
EPS, diluted n/a n/a 0.13 −0.26 −0.05 0.74 1.56 0.70 −0.37
Growth −300.0% +110.8% −55.1% −152.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin70.3%Operating margin28.5%Net margin1.3%Fiscal year 2018Gross margin48.3%Operating margin21.9%Net margin2.7%Fiscal year 2019Gross margin56.3%Operating margin18.4%Net margin4.6%Fiscal year 2020Gross margin33.2%Operating margin2.4%Net margin−14.6%Fiscal year 2021Gross margin47.3%Operating margin17.3%Net margin−2.1%Fiscal year 2022Gross margin74.1%Operating margin52.3%Net margin22.2%Fiscal year 2023Gross margin85.7%Operating margin65.8%Net margin47.5%Fiscal year 2024Gross margin67.0%Operating margin40.9%Net margin26.8%Fiscal year 2025Gross margin15.5%Operating margin−12.6%Net margin−13.5%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 70.3% 48.3% 56.3% 33.2% 47.3% 74.1% 85.7% 67.0% 15.5%
Operating margin 28.5% 21.9% 18.4% 2.4% 17.3% 52.3% 65.8% 40.9% −12.6%
Net margin 1.3% 2.7% 4.6% −14.6% −2.1% 22.2% 47.5% 26.8% −13.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2017Operating cash flow40.8Fiscal year 2018Operating cash flow26.2Fiscal year 2019Operating cash flow60.5Buybacks−18.2Fiscal year 2020Operating cash flow46.8Buybacks−5.3Fiscal year 2021Operating cash flow104.6Fiscal year 2022Operating cash flow305.6Fiscal year 2023Operating cash flow156.8Fiscal year 2024Operating cash flow151.7Buybacks−33.5Fiscal year 2025Operating cash flow74.1
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 40.8 26.2 60.5 46.8 104.6 305.6 156.8 151.7 74.1
Buybacks n/a n/a −18.2 −5.3 n/a n/a n/a −33.5 n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash12.5Shareholders’ equity24.9Fiscal year 2018Cash12.2Shareholders’ equity349.0Fiscal year 2019Cash6.8Total debt422.0Net cash (debt)−415.2Shareholders’ equity120.5Debt to equity3.50Fiscal year 2020Cash7.0Total debt391.8Net cash (debt)−384.9Shareholders’ equity98.9Debt to equity3.96Fiscal year 2021Cash23.4Total debt341.4Net cash (debt)−318.0Shareholders’ equity97.3Debt to equity3.51Fiscal year 2022Cash181.7Shareholders’ equity200.8Fiscal year 2023Cash103.9Total debt178.1Net cash (debt)−74.2Shareholders’ equity377.3Debt to equity0.47Fiscal year 2024Cash190.7Total debt180.3Net cash (debt)10.3Shareholders’ equity421.1Debt to equity0.43Fiscal year 2025Cash8.3Shareholders’ equity389.3
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 12.5 12.2 6.8 7.0 23.4 181.7 103.9 190.7 8.3
Total debt n/a n/a 422.0 391.8 341.4 n/a 178.1 180.3 n/a
Net cash (debt) n/a n/a −415.2 −384.9 −318.0 n/a −74.2 10.3 n/a
Shareholders’ equity 24.9 349.0 120.5 98.9 97.3 200.8 377.3 421.1 389.3
Debt to equity n/a n/a 3.50 3.96 3.51 n/a 0.47 0.43 n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
40.8 26.2 60.5 46.8 104.6 305.6 156.8 151.7 74.1
Growth −35.7% +130.9% −22.7% +123.6% +192.2% −48.7% −3.3% −51.2%
Investment
−130.2 −220.7 −112.7 −10.9 −35.9 −140.2 −68.2 −28.8 −67.8
Financing
98.1 194.6 46.7 −35.7 −52.3 −7.1 −166.4 −36.1 −188.6
n/a n/a −18.2 −5.3 n/a n/a n/a −33.5 n/a

Capital expenditure, dividends and buybacks are shown as money out, so negative.