What is Target Hospitality's lease impairment?

Target Hospitality (TH) reported lease impairment of $0 in Q4 2025.

What does lease impairment mean?

Represents the impairment charges recognized against right-of-use assets associated with operating leases. This indicates that the economic benefits expected from the leased assets have declined, potentially due to changes in business strategy or market conditions.

Target Hospitality TH Lease impairment

Lease impairment at other companies

Boston BeerSAM

$150K—

BankUnitedBKU

$51.75K+283%

ZymeworksZYME

$79K—

Tetra TechTTEK

$0—

Strategic Education, Inc.STRA

$233K+195%

Target HospitalityTH

$0—

Other financials

Income statement

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Revenue$72.8M+4.1%

Gross profit$6.9M-61.7%

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$2.04B+42.2%

Enterprise value$2.05B+47.7%

P/S6.3×+2.2×

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 / equity0×0.0×

Current ratio0.8×-1.1×

Where this comes from

Reported directly by Target Hospitality in its filing.

Tagged under the XBRL concept us-gaap:OperatingLeaseImpairmentLoss.

The official record: Target Hospitality’s 10-K, filed March 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Target Hospitality's lease impairment?: Target Hospitality (TH) reported lease impairment of $0 in Q4 2025.
What does lease impairment mean?: Represents the impairment charges recognized against right-of-use assets associated with operating leases. This indicates that the economic benefits expected from the leased assets have declined, potentially due to changes in business strategy or market conditions.