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Target Hospitality TH Minimum Lease Payment Included In Variable Lease Cost

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Other financials

Income statement

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Revenue$85.5M+38.7%
Gross profit$15.8M+4,916%
Operating income-$7.5M+55.7%
Net income-$9.0M+39.5%
EPS (diluted)-$0.09+40.0%

Balance sheet

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Cash & equivalents$6.1M-68.5%
Total debt$10.9M-21.2%
Total equity$370.1M-7.8%
Total assets$654.2M+22.6%

Cash flow

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Operating cash flow$104.0M+840%
CapEx$5.4M+15,466%
Free cash flow$98.5M+794%

Valuation

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Market cap$1.64B+102%
Enterprise value$1.65B+104%
P/S4.7×+2.1×

Profitability

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Gross margin13.7%-18.4pp
Operating margin-11.1%-21.0pp
Net margin-10.8%-14.4pp
FCF margin47.3%+22.9pp

Returns & leverage

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Return on equity-9.8%-12.6pp
Debt / equity0.0×
Current ratio0.6×-0.8×

Where this comes from

Reported directly by Target Hospitality in its filing.

Tagged under the XBRL concept th:MinimumLeasePaymentIncludedInVariableLeaseCost.

The source filing: Target Hospitality’s 10-K, filed March 11, 2026.

Filed
Mar 11, 2026, 3:21 PM EDT
Fiscal year
FY2025
Accession
0001104659-26-026351

(1) Consists primarily of common area maintenance, real estate taxes, utilities, operating expenses and insurance for real estate leases; insurance and personal property expense for equipment leases; and certain vehicle related charges for finance leases. For 2025, the amount of variable lease costs disclosed above also includes less than $0.1 million of lease costs related to base rent associated with long-term immaterial leases with a present value of total minimum lease payments less than $25,000 with an average remaining lease term of approximately 0.7 years as of December 31, 2025. For 2024, the amount of variable lease costs disclosed above also includes less than $0.1 million of lease costs related to base rent associated with long-term immaterial leases with a present value of total minimum lease payments less than $25,000 with an average lease term of approximately 1.5 years.

Item 8. Financial Statements and Supplementary Data

FAQ

What is Target Hospitality's minimum lease payment included in variable lease cost?
Target Hospitality (TH) reported minimum lease payment included in variable lease cost of $6.25M in Q4 2025.
How has Target Hospitality's minimum lease payment included in variable lease cost changed year-over-year?
Target Hospitality's minimum lease payment included in variable lease cost decreased by 0.0% year-over-year, from $6.25M to $6.25M.
What is the long-term trend for Target Hospitality's minimum lease payment included in variable lease cost?
Over 3 years (2022 to 2025), Target Hospitality's minimum lease payment included in variable lease cost has grown at a 0.0% compound annual growth rate (CAGR), from $25M to $25M.
What does minimum lease payment included in variable lease cost mean?
Minimum Lease Payment Included In Variable Lease Cost as reported by Target Hospitality Corp. Common Stock.

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