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Target Hospitality TH Q4 2025 Annual earnings

Reported March 11, 2026 · Before market open

Revenue$89.8MBeat by $4.0M
EPS-$0.15Miss by $0.05
Revenue estimate$85.8M
EPS estimate-$0.10

Next report

Nov 5, 2026 (in a month)
Revenue estimate$118.4M
EPS estimate$0.01

Financials

Q4 2025

Income statement

See full
Revenue$89.8M+7.3%
Gross profit$7.1M-80.9%
Operating income-$16.8M-181%
Net income-$14.9M-219%
EPS (diluted)-$0.15-225%

Balance sheet

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Cash & equivalents$8.3M-95.6%
Total debt$12.8M-93.9%
Total equity$389.3M-7.6%
Total assets$530.2M-26.9%

Cash flow

See full
Operating cash flow$5.7M-81.2%
CapEx$52.0K-85.7%
Free cash flow$5.7M-81.2%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$799.23M-16.4%
Enterprise value$803.71M-17.6%
P/S2.5×0.0×

Profitability

See full
Gross margin13.3%-32.8pp
Operating margin-10.8%-39.0pp
Net margin-11.6%-30.0pp
FCF margin22.9%-16.2pp

Returns & leverage

See full
Return on equity-9.2%-27.0pp
Debt / equity0×-0.5×
Current ratio0.9×-0.2×

Segments

By segment

See full
Workforce Hospitality Solutions$39.7M—
Hospitality And Facilities Services South$33.9M-7.7%
Government$13.7M-68.8%
All Other Segments$2.5M-23.0%

By product

See full
Service$40.9M-32.0%
Construction Fee Income$32.5M—

FAQ

When did Target Hospitality report Q4 2025 earnings?
Target Hospitality (TH) reported Q4 2025 earnings on March 11, 2026 before market open.
What were Target Hospitality's Q4 2025 revenue and EPS?
Target Hospitality reported revenue of $89.8M and eps of $-0.15 for Q4 2025.
Did Target Hospitality beat estimates in Q4 2025?
Revenue beat the consensus estimate of $85.8M by $4.0M. EPS missed the consensus estimate of $-0.10 by $0.05.
How did Target Hospitality's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 7.3% from $83.7M a year earlier.
Where can I find Target Hospitality's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001104659-26-026114) and the 10-K periodic report (0001104659-26-026351) directly on SEC EDGAR. The filing index links above go to sec.gov.