Can Target Hospitality cover its short-term obligations?

Its current ratio is 0.85 — current liabilities exceed current assets.

Where does Target Hospitality's balance sheet data come from?

Every line is extracted from Target Hospitality's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.

Target Hospitality TH Balance Sheet Statement

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Cash and cash equivalents	$5.46M-84.2%	$8.35M-95.6%	$30.39M-82.9%	$19.24M-87.5%	$34.47M-72.3%
Accounts receivable, net	$45.63M-19.9%	$56.2M+13.9%	$42.73M-9.6%	$57.44M+17.8%	$56.95M+5.8%
Prepaid expenses and other current assets	$7.51M-8.1%	$8.79M-5.7%	$6.32M-0.3%	$6.38M+10.0%	$8.17M+3.1%
Total current assets	$58.61M-41.2%	$73.34M-70.6%	$79.44M-65.7%	$83.05M-60.2%	$99.59M-46.5%
Operating lease right-of-use assets	$5.2M-36.3%	$6.54M-73.8%	$8.53M-35.5%	$7.72M-45.4%	$8.17M-50.5%
Goodwill	$41.04M0.0%	$41.04M0.0%	$41.04M0.0%	$41.04M0.0%	$41.04M0.0%
Intangible assets, net	$35.97M-27.3%	$39.33M-25.5%	$42.7M-24.0%	$46.08M-22.6%	$49.44M-21.4%
Deferred tax assets	$40.06M-16.1%	$42.31M-14.1%	$44.64M-15.4%	$44.43M-18.0%	$47.74M-8.5%
Other non-current assets	$6.88M—	——	——	——	——
Total assets	$539.54M-4.1%	$530.21M-26.9%	$541.16M-23.8%	$533.71M-23.4%	$562.52M-18.1%
Accounts payable	$33.04M+42.9%	$44.39M+174%	$45.81M+171%	$21.43M+22.1%	$23.13M+33.9%
Accrued expenses	$18.35M+5.2%	$22.48M-12.8%	$17.54M-22.6%	$17.17M-33.3%	$17.44M-51.5%
Deferred revenue	$18.77M+3,402%	$9.29M+1,634%	$5.53M+932%	$536K+0.2%	$536K-83.4%
Current portion of long-term debt	$2.08M—	$2.09M-98.8%	——	——	——
Operating lease liabilities, current	$4.77M-28.6%	$5.81M-32.1%	$7.41M-7.4%	$7.11M-19.2%	$6.68M-34.7%
Finance Lease Liability, Current	$2.08M-7.5%	$2.09M+12.2%	$2.22M+43.7%	$2.41M+58.8%	$2.25M+42.9%
Total current liabilities	$69.23M+37.0%	$84.04M-64.0%	$82.42M-64.1%	$56.62M-76.0%	$50.51M-24.4%
Operating lease liabilities, non-current	$669K-76.8%	$1.13M-93.5%	$1.64M-72.9%	$1.98M-67.4%	$2.88M-59.0%
Finance Lease Liabilities (Total)	$3.5M-18.5%	$3.8M+14.8%	$4.2M+65.4%	$4.7M+79.1%	$4.29M+50.9%
Operating Lease Liabilities (Total)	——	$6.94M-73.3%	——	——	——
Finance lease liabilities	$1.47M-28.1%	$1.68M+15.4%	$2.02M+103%	$2.34M+112%	$2.04M+60.9%
Asset retirement obligations	$2.73M+5.2%	$2.7M+5.2%	$2.66M+5.1%	$2.63M+5.1%	$2.6M+5.0%
Total liabilities	$162.92M+10.6%	$141.15M-53.7%	$138.91M-52.5%	$132.53M-55.8%	$147.25M-52.7%
Common stock	$10K0.0%	$10K0.0%	$10K0.0%	$10K0.0%	$10K0.0%
Additional paid-in capital	$154.7M+3.5%	$154.09M+3.6%	$152.27M+4.0%	$150.35M+3.9%	$149.48M+5.6%
Retained earnings	$282.34M-13.4%	$295.26M-11.2%	$310.19M-3.0%	$310.99M+3.7%	$325.92M+15.8%
Accumulated other comprehensive income (loss)	-$2.82M-1.3%	-$2.8M-0.5%	-$2.79M-3.9%	-$2.77M-3.4%	-$2.79M-4.9%
Treasury stock	$57.3M0.0%	$57.3M0.0%	$57.3M+24.6%	$57.3M+27.8%	$57.3M+27.5%
Noncontrolling interests	-$302K-543%	-$197K-2,289%	-$131K-474%	-$91K—	-$47K—
Total stockholders' equity	$376.92M-9.2%	$389.26M-7.6%	$402.38M-3.6%	$401.28M+1.0%	$415.32M+10.6%
Total liabilities and stockholders' equity	$539.54M-4.1%	$530.21M-26.9%	$541.16M-23.8%	$533.71M-23.4%	$562.52M-18.1%
Deferred Tax Assets and Other Non-Current Assets	$6.88M—	——	——	——	——
Net Investment in Lease	$5.2M-36.3%	$6.54M-73.8%	$8.53M-35.5%	$7.72M-45.4%	$8.17M-50.5%
Other intangible assets—net	$35.97M-27.3%	$39.33M-25.5%	$42.7M-24.0%	$46.08M-22.6%	$49.44M-21.4%
Operating lease right-of-use assets	$5.2M-36.3%	$6.54M-73.8%	$8.53M-35.5%	$7.72M-45.4%	$8.17M-50.5%
Other non-current assets	$6.88M—	——	——	——	——
Property Plant And Equipment Excluding Other Net	$354.69M—	$332.41M+3.6%	——	——	——
Operating Lease Right-of-Use Assets in Other Assets	$5.2M-36.3%	$6.54M-73.8%	$8.53M-35.5%	$7.72M-45.4%	$8.17M-50.5%
Software and Technology Licenses, Net	$6.88M—	——	——	——	——
Other Commercial Liabilities	$18.35M+5.2%	$22.48M-12.8%	$17.54M-22.6%	$17.17M-33.3%	$17.44M-51.5%
Accrued Liabilities, Current	$18.35M+5.2%	$22.48M-12.8%	$17.54M-22.6%	$17.17M-33.3%	$17.44M-51.5%
Deferred income	$10.99M+988%	$9.28M+1,228%	$9.43M+2,259%	$8.51M+213%	$1.01M-43.7%
Line of Credit Outstanding	$30M-26.7%	——	——	$24M—	$40.9M—
Deferred income	$18.77M+3,402%	$9.29M+1,634%	$5.53M+932%	$536K+0.2%	$536K-83.4%
Total debt	$11.02M-20.4%	$12.82M-93.9%	$13.25M-93.3%	$13.78M-93.0%	$13.86M-93.2%
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	$10K0.0%	$10K0.0%	$10K0.0%	$10K0.0%	$10K0.0%
Deferred Finance Costs Noncurrent Net	$1.58M-8.2%	$1.79M-4.2%	$1.42M-30.0%	$1.57M-27.9%	$1.72M-26.0%
Deferred income taxes	$40.06M-16.1%	$42.31M-14.1%	$44.64M-15.4%	$44.43M-18.0%	$47.74M-8.5%
Current maturities of long-term debt	$2.08M-7.5%	$2.09M+12.2%	$2.22M+43.7%	$2.41M+58.8%	$2.25M+42.9%
Secured lines of credit	$30M-26.7%	——	——	$24M—	$40.9M—
Noncontrolling interests in subsidiaries	-$302K-543%	-$197K-2,289%	-$131K-474%	-$91K—	-$47K—
Property Plant And Equipment Other Net	$35.57M-2.4%	$35.75M+2.3%	$36.32M+5.7%	$36.89M+5.7%	$36.43M+3.8%

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Questions, answered.

Can Target Hospitality cover its short-term obligations?: Its current ratio is 0.85 — current liabilities exceed current assets.
Where does Target Hospitality's balance sheet data come from?: Every line is extracted from Target Hospitality's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.