TH
$15.47+0.98%
Target Hospitality Corp.Stock · IndustrialsRussell 2000 · 0.03% of IWMNasdaq Composite · 0.006% of ONEQRussell 3000 · 0.001% of IWVUS Stock Market · 0.0010% of VTI
TH financial statements
The full income statement, balance sheet, and cash-flow statement for Target Hospitality Corp. (TH), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 100.4M2024-09 98.9M2024-12 99.4M2025-03 99.4M2025-06 99.8M2025-09 99.8M2025-12 100.2M2026-03 100.2M2026-06 99.6M-0.8% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 321M-17.0% | 386M-31.5% | 564M+12.3% | 502M+72.3% | 291M+29.4% | ||
| Lease income | 45.8M-62.0% | 120M-39.2% | 198M+17.6% | 168M+118.9% | 76.9M+45.1% | |
| Gross profit | 42.7M-76.1% | 178M-43.1% | 313M+26.8% | 247M+143.8% | 101M+77.3% | |
| Selling, general & administrative | 58.5M+7.8% | 54.3M-3.3% | 56.1M-3.1% | 57.9M+24.6% | 46.5M+21.9% | |
| Restructuring | — | — | — | — | 0.00 | |
| Amortization of intangibles | 13.5M+0.0% | 13.5M+0.2% | 13.4M+1.1% | 13.3M-9.1% | 14.6M-0.7% | |
| Provision for credit losses | 977K+190.8% | 336K-43.9% | 599K-43.1% | 1.05M-44.0% | 1.88M-61.1% | |
| Operating income | -34.7M-131.9% | 109M-54.8% | 241M+38.0% | 174M+370.0% | 37.1M+804.6% | |
| Interest & investment income | 2.33M-65.2% | 6.70M+61.8% | 4.14M+167.7% | 1.55M | — | |
| Net interest income | -6.09M+63.4% | -16.6M+26.6% | -22.6M+37.7% | -36.3M+6.2% | -38.7M+3.3% | |
| Pre-tax income | -43.2M-146.5% | 92.8M-58.7% | 225M+111.4% | 106M+4078.6% | -2.67M+92.0% | |
| Income tax | -6.13M-128.6% | 21.4M-58.0% | 51.0M+57.7% | 32.4M+1600.1% | 1.90M+122.5% | |
| -37.1M-152.1% | 71.3M-59.0% | 174M+134.9% | 73.9M+1715.8% | -4.58M+81.8% | ||
| Net income to non-controlling interest | 44.0K-69.0% | 142K | — | — | — | |
| Net income to common | -37.1M-152.1% | 71.3M-59.0% | 174M+134.9% | 73.9M+1715.8% | -4.58M+81.8% | |
| -$0.37-152.9% | $0.70-55.1% | $1.56+110.8% | $0.74+1580.0% | -$0.05+80.8% | ||
| EPS (basic) | -$0.37-152.1% | $0.71-58.5% | $1.71+125.0% | $0.76+1620.0% | -$0.05+80.8% | |
| Weighted-avg shares (basic) | 99.5M-0.6% | 100M-1.2% | 101M+4.3% | 97.2M+0.6% | 96.6M+0.6% | |
| Weighted-avg shares (diluted) | 99.5M-1.9% | 101M-3.7% | 105M+5.3% | 100M+3.6% | 96.6M+0.6% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 73.3M-70.6% | 249M+38.1% | 181M-23.6% | 236M+290.5% | 60.5M+39.0% | ||
| Cash & equivalents | 8.35M-95.6% | 191M+83.5% | 104M-42.8% | 182M+676.2% | 23.4M+235.4% | |
| Accounts receivable | 56.2M+13.9% | 49.3M-26.5% | 67.1M+59.2% | 42.2M+46.5% | 28.8M+2.1% | |
| Inventory | 2.10M+10.5% | 1.90M-9.5% | 2.10M+5.0% | 2.00M+25.0% | 1.60M+77.8% | |
| Prepaid expenses | 8.79M-5.7% | 9.33M-1.6% | 9.48M-24.5% | 12.6M+50.3% | 8.35M+16.1% | |
| Other current assets | 4.30M+7.5% | 4.00M+0.0% | 4.00M+2.6% | 3.90M+14.7% | 3.40M+30.8% | |
| 530M-26.9% | 726M+4.5% | 694M-10.0% | 772M+50.3% | 513M-3.9% | ||
| Property, plant & equipment | — | 321M-8.1% | 349M-2.3% | 357M+22.4% | 292M-6.3% | |
| Operating lease right-of-use | 6.54M-73.8% | 24.9M+26.6% | 19.7M-27.8% | 27.3M | — | |
| Goodwill | 41.0M+0.0% | 41.0M+0.0% | 41.0M+0.0% | 41.0M+0.0% | 41.0M+0.0% | |
| Intangible assets | 39.3M-25.5% | 52.8M-20.3% | 66.3M-11.8% | 75.2M-15.0% | 88.5M-14.2% | |
| Deferred tax assets | — | — | — | — | 14.7M-3.1% | |
| Other non-current assets | — | — | 661K-65.3% | 1.91M-44.2% | 3.42M-36.8% | |
| 84.0M-64.0% | 233M+231.9% | 70.3M-63.2% | 191M+162.2% | 72.8M+59.9% | ||
| Accounts payable | 44.4M+174.3% | 16.2M-22.6% | 20.9M+19.1% | 17.6M+48.8% | 11.8M+10.9% | |
| Accrued liabilities | 22.5M-12.8% | 25.8M-23.4% | 33.7M-15.1% | 39.6M+19.7% | 33.1M+34.1% | |
| Deferred revenue | 9.28M+1227.9% | 699K-61.0% | 1.79M-98.5% | 120M+342.3% | 27.1M+310.0% | |
| Short-term & current debt | 2.09M-98.8% | 180M+13072.2% | 1.37M+20.6% | 1.14M+55.7% | 729K-79.6% | |
| Current lease liability | 5.81M-32.1% | 8.55M-28.3% | 11.9M-4.8% | 12.5M | — | |
| Finance lease liability (current) | 2.09M+12.2% | 1.86M+35.9% | 1.37M+20.6% | 1.14M+55.7% | 729K-79.6% | |
| 141M-53.7% | 305M-3.9% | 317M-44.5% | 571M+37.2% | 416M-4.4% | ||
| Long-term debt | 1.68M+15.4% | 1.45M-99.2% | 178M-46.0% | 330M-3.4% | 341M-12.9% | |
| Deferred revenue (non-current) | 9.29M+1633.6% | 536K-85.4% | 3.67M-32.9% | 5.48M-24.7% | 7.27M-38.1% | |
| Non-current lease liability | 1.13M-93.5% | 17.5M+107.2% | 8.43M-24.1% | 11.1M | — | |
| Operating lease liability (total) | 6.93M-73.3% | 26.0M+27.9% | 20.3M-13.9% | 23.6M | — | |
| Finance lease liability (total) | 3.80M+14.8% | 3.31M+38.4% | 2.39M+7.6% | 2.22M+56.0% | 1.43M+58.3% | |
| Finance lease liability | 1.68M+15.4% | 1.45M+41.7% | 1.02M-5.9% | 1.09M+56.3% | 696K+158.7% | |
| Deferred tax liabilities | 42.3M-14.1% | 49.3M-7.2% | 53.1M+249.8% | 15.2M | — | |
| Other non-current liabilities | — | — | — | 6.31M+330.6% | 1.47M+205.8% | |
| 389M-7.6% | 421M+11.6% | 377M+87.9% | 201M+106.5% | 97.3M-1.6% | ||
| Common stock | 10.0K+0.0% | 10.0K+0.0% | 10.0K+0.0% | 10.0K+0.0% | 10.0K+0.0% | |
| Additional paid-in capital | 154M+3.6% | 149M+4.5% | 142M+2.2% | 139M+27.2% | 110M+2.8% | |
| Retained earnings | 295M-11.2% | 332M+27.3% | 261M+197.8% | 87.7M+538.0% | 13.7M-25.0% | |
| Treasury stock | 57.3M+0.0% | 57.3M+143.2% | 23.6M+0.0% | 23.6M+0.0% | 23.6M+0.0% | |
| Non-controlling interest | -197K-2288.9% | 9.00K | — | — | — | |
| Total equity incl. non-controlling | 389M-7.6% | 421M+11.6% | 377M+87.9% | 201M+106.5% | 97.3M | |
| Total liabilities & equity | 530M-26.9% | 726M+4.5% | 694M-10.0% | 772M+50.3% | 513M-3.9% | |
| Common shares issued | 113M+0.8% | 112M+1.0% | 111M+1.2% | 110M+3.2% | 106M+0.7% | |
| Common shares outstanding | 99.8M+0.9% | 99.0M-2.7% | 102M+1.3% | 100M-1.6% | 102M+0.8% | |
| Shares outstanding (cover) | 100M+0.8% | 99.4M-1.2% | 101M-0.4% | 101M-1.0% | 102M+0.7% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 74.1M-51.2% | 152M-3.3% | 157M-48.7% | 306M+192.2% | 105M+123.6% | ||
| Depreciation & amortization | 73.4M+0.8% | 72.8M-13.3% | 84.0M+24.1% | 67.7M-4.0% | 70.5M+7.5% | |
| Intangible amortization | 13.5M+0.0% | 13.5M+0.2% | 13.4M+1.1% | 13.3M-9.1% | 14.6M-0.7% | |
| Share-based compensation | 7.55M+3.4% | 7.31M-34.6% | 11.2M-41.9% | 19.2M+278.5% | 5.08M+41.0% | |
| Deferred income taxes | -6.96M-83.0% | -3.80M-110.0% | 37.9M+26.8% | 29.9M+6271.4% | 469K+105.4% | |
| Change in receivables | 7.51M+142.7% | -17.6M-168.2% | 25.8M+88.4% | 13.7M+514.5% | 2.23M+113.7% | |
| Other operating activities | — | 778K | — | — | — | |
| -67.8M-135.0% | -28.8M+57.7% | -68.2M+51.4% | -140M-290.4% | -35.9M-228.0% | ||
| Capital expenditure | 751K+9.3% | 687K-77.6% | 3.07M-85.1% | 20.6M+4714.1% | 427K+12.1% | |
| Free cash flow | 73.3M-51.4% | 151M-1.8% | 154M-46.1% | 285M+173.6% | 104M+124.5% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| -189M-423.1% | -36.1M+78.3% | -166M-2243.9% | -7.10M+86.4% | -52.3M-46.5% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00-100.0% | 33.5M | 0.00 | 0.00 | 0.00-100.0% | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| FX effect on cash | 19.0K+163.3% | -30.0K-850.0% | 4.00K+121.1% | -19.0K-235.7% | 14.0K+255.6% | |
| Net change in cash | -182M-310.2% | 86.7M+211.6% | -77.7M-149.1% | 158M+863.5% | 16.4M+11633.6% | |
| Interest paid | 13.0M-27.8% | 18.0M-38.6% | 29.3M-10.4% | 32.7M-3.3% | 33.8M-5.2% | |
| Income taxes paid | 2.82M-90.2% | 28.8M+381.7% | 5.97M+22.8% | 4.87M+535.9% | 765K-39.9% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 802M-16.5% | 960M-2.9% | 989M-32.8% | 1.47B+305.7% | 363M+126.9% | |
| P/E | — | 13.5×+128.1% | 5.9×-81.9% | 32.6× | — | |
| P/S | 2.5×+0.6% | 2.5×+48.2% | 1.7×-50.9% | 3.4×+174.1% | 1.2×+75.4% | |
| P/B | 2.1×-9.6% | 2.3×-22.0% | 2.9×-71.1% | 10.1×+171.0% | 3.7×+130.7% | |
| P/FCF | 10.9×+72.0% | 6.4×+4.7% | 6.1×-89.5% | 57.7×+1556.5% | 3.5×+1.1% | |
| Earnings yield | — | 7.4%-56.2% | 16.9%+451.8% | 3.1% | — | |
| FCF yield | 9.1%-41.9% | 15.7%-4.5% | 16.5%+850.1% | 1.7%-94.0% | 28.7%-1.1% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: TH’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TH filings on SEC EDGAR → Not investment advice.