TH
Target Hospitality Corp
NASDAQ: TH · INDUSTRIALS · SPECIALTY BUSINESS SERVICES
$14.54
+2.47% today
Updated 2026-04-30
Market cap
$1.43B
P/E ratio
—
P/S ratio
4.45x
EPS (TTM)
$-0.37
Dividend yield
—
52W range
$6 – $16
Volume
1.1M
Target Hospitality Corp (TH) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $149.47M | $134.24M | $240.60M | $321.10M | $225.15M | $291.34M | $501.99M | $563.61M | $386.27M | $320.63M |
| Revenue growth (YoY) | — | -10.2% | +79.2% | +33.5% | -29.9% | +29.4% | +72.3% | +12.3% | -31.5% | -17.0% |
| Cost of revenue | $52.03M | $81.19M | $150.37M | $174.08M | $167.99M | $189.99M | $254.86M | $250.28M | $208.09M | $294.18M |
| Gross profit | $97.44M | $53.05M | $90.23M | $147.01M | $57.16M | $101.35M | $247.13M | $313.32M | $178.18M | $26.45M |
| Gross margin | 65.2% | 39.5% | 37.5% | 45.8% | 25.4% | 34.8% | 49.2% | 55.6% | 46.1% | 8.3% |
| R&D | — | — | — | — | — | — | — | — | — | — |
| SG&A | $15.79M | $24.34M | $1.62M | $76.46M | $38.13M | $46.46M | $57.89M | $56.13M | $54.26M | $58.51M |
| Operating income | $40.31M | $21.46M | $40.91M | $47.97M | $4.10M | $37.10M | $174.37M | $240.61M | $108.78M | $-32.05M |
| Operating margin | 27.0% | 16.0% | 17.0% | 14.9% | 1.8% | 12.7% | 34.7% | 42.7% | 28.2% | -10.0% |
| EBITDA | $81.64M | $59.56M | $80.24M | $108.68M | $68.11M | $102.21M | $224.29M | $332.62M | $125.10M | $41.33M |
| EBITDA margin | 54.6% | 44.4% | 33.3% | 33.8% | 30.3% | 35.1% | 44.7% | 59.0% | 32.4% | 12.9% |
| EBIT | $40.31M | $29.41M | $40.91M | $49.78M | $2.50M | $31.69M | $144.18M | $248.65M | $109.46M | $-32.05M |
| Interest expense | $0.00 | $2.85M | $24.20M | $33.40M | $40.03M | $34.37M | $37.87M | $26.78M | $23.32M | $8.42M |
| Income tax | $17.31M | $25.58M | $11.76M | $7.61M | $-8.46M | $1.90M | $32.37M | $51.05M | $21.43M | — |
| Effective tax rate | 39.1% | 96.3% | 70.3% | 38.9% | 25.2% | -71.3% | 30.4% | 22.7% | 23.1% | 0.0% |
| Net income | $26.91M | $981000.00 | $4.96M | $11.97M | $-25.13M | $-4.58M | $73.94M | $173.70M | $71.27M | $-37.12M |
| Net income growth (YoY) | — | -96.4% | +405.2% | +141.6% | -309.9% | +81.8% | +1715.8% | +134.9% | -59.0% | -152.1% |
| Profit margin | 18.0% | 0.7% | 2.1% | 3.7% | -11.2% | -1.6% | 14.7% | 30.8% | 18.4% | -11.6% |