Target Hospitality Corp.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $320.6M | $386.3M | $563.6M | $502.0M | $291.3M |
| Gross profit | $42.7M | $178.2M | $313.3M | $247.1M | $101.3M |
| Operating income | -$34.7M | $108.8M | $240.6M | $174.4M | $37.1M |
| Cash from operations | $74.1M | $151.7M | $156.8M | $305.6M | $104.6M |
| Capital expenditure | $751,000 | $687,000 | $3.1M | $20.6M | $427,000 |
| Free cash flow | $73.3M | $151.0M | $153.7M | $285.1M | $104.2M |
| Share repurchases | — | $33.5M | — | — | — |
| Impairments | $0 | $0 | $0 | $0 | $0 |
| Total assets | $530.2M | $725.8M | $694.4M | $771.7M | $513.4M |
| Total liabilities | $141.1M | $304.7M | $317.0M | $570.9M | $416.1M |
| Total debt | $3.8M | $183.6M | $181.4M | $334.5M | $340.0M |
Shares outstanding 100.2M
Annual filing data through FY ended December 31, 2025; float as of July 2, 2026.