Target Hospitality Corp (TH) financials
Target Hospitality revenue and earnings by year
Target Hospitality's revenue was $321 million in the fiscal year to December 31, 2025, down 17.0% from the year before. Net income was -$37.1 million, -11.6% of revenue. Since the fiscal year to December 31, 2017, revenue has grown 11.5% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 9 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 321 | 386 | 564 | 502 | 291 | 225 | 321 | 241 | 134 |
| Revenue growth | -17.0% | -31.5% | 12.3% | 72.3% | 29.4% | -29.9% | 33.5% | 79.2% | — |
| Gross profit | 43 | 178 | 313 | 247 | 101 | 57 | 147 | 90 | 53 |
| Gross margin | 13.3% | 46.1% | 55.6% | 49.2% | 34.8% | 25.4% | 45.8% | 37.5% | 39.5% |
| Operating income | -35 | 109 | 241 | 174 | 37 | 4 | 48 | 41 | 21 |
| Operating margin | -10.8% | 28.2% | 42.7% | 34.7% | 12.7% | 1.8% | 14.9% | 17.1% | 15.9% |
| Net income | -37 | 71 | 174 | 74 | -5 | -25 | 12 | 5 | 1 |
| Net margin | -11.6% | 18.4% | 30.8% | 14.7% | -1.6% | -11.2% | 3.7% | 2.1% | 0.7% |
| Diluted EPS | -$0.37 | $0.70 | $1.56 | $0.74 | -$0.05 | -$0.26 | $0.09 | $0.11 | — |
| Free cash flow | 6 | 123 | 93 | 165 | 69 | 35 | -23 | -53 | 26 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open TH in Markets.
See also: TH valuation and P/E history · TH returns
No forecast, no recommendation. This page describes Target Hospitality Corp from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.