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Other financials

Income statement

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Revenue$72.8M+4.1%
Operating income-$14.3M-1,231%
Net income-$12.9M-100.0%
EPS (diluted)-$0.13-85.7%

Balance sheet

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Cash & equivalents$5.5M-84.2%
Total debt$11.0M-20.4%
Total equity$376.9M-9.2%
Total assets$539.5M-4.1%

Cash flow

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Operating cash flow$7.0M+78.7%
CapEx$176.0K-71.4%
Free cash flow$6.9M+106%

Valuation

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Market cap$1.59B+120%
Enterprise value$1.6B+122%
P/S4.9×+2.6×

Profitability

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Gross margin9.8%-32.3pp
Operating margin-14.8%-36.9pp
Net margin-13.5%-26.2pp
FCF margin23.8%-6.0pp

Returns & leverage

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Return on equity-11%-22.2pp
Debt / equity0.0×
Current ratio0.8×-1.1×

Where this comes from

Reported directly by Target Hospitality in its filing.

Tagged under the XBRL concept us-gaap:GrossProfit.

The source filing: Target Hospitality’s 10-Q, filed May 11, 2026.

Filed
May 11, 2026, 2:07 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001104659-26-058542
Line itemFor the Three Months Ended / March 31, 2026For the Three Months Ended / March 31, 2025
Services and construction costs46,73835,768
Specialty rental3,5852,493
Depreciation of specialty rental assets15,57513,672
Gross profit6,88317,964
Selling, general and administrative14,55714,805
Other depreciation and amortization4,0213,973
Other expense, net2,628262
Operating loss(14,323)(1,076)

Item 1.Financial Statements

FAQ

What is Target Hospitality's gross profit?
Target Hospitality (TH) reported gross profit of $6.88M in Q1 2026.
How has Target Hospitality's gross profit changed year-over-year?
Target Hospitality's gross profit decreased by 61.7% year-over-year, from $17.96M to $6.88M.
What is the long-term trend for Target Hospitality's gross profit?
Over 4 years (2021 to 2025), Target Hospitality's gross profit has grown at a -19.5% compound annual growth rate (CAGR), from $101.35M to $42.66M.
What does gross profit mean?
Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

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