Target Hospitality Corp.

NASDAQ•TH

CEO: Mr. James Bradley Archer

Sector: Industrials

Industry: Specialty Business Services

Listing Date: 2018-03-12

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services - South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services. It serves the U.S. government contractors and investment grade natural resource development companies. Target Hospitality Corp. was founded in 1978 and is headquartered in The Woodlands, Texas.

Contact Information

9320 Lakeside Boulevard, Suite 300, The Woodlands, TX, 77381, United States

800-832-4242

www.targethospitality.com

Market Cap

$936.93M

P/E (TTM)

-24.5

33.8

Dividend Yield

52W High

$9.90

52W Low

$5.56

52W Range

88%

Rank52Top 73.5%

2.9

F-Score

Modified Piotroski Analysis

Based on 9-year fundamentals

Weak • 2.9 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2017-2025

Financial Dashboard

Q4 2025 Data

Revenue

$89.78M+0.00%

4-Quarter Trend

EPS

-$0.15+0.00%

4-Quarter Trend

FCF

-$12.12M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Total Revenue Down Sharply Total revenues $320.6M, down (17)% compared to $386.3M in 2024, driven by Government segment loss.

Net Income Reverses Loss Consolidated net loss ($37.1M) in 2025 versus net income $71.3M in 2024, due to high-margin contract loss.

WHS Segment Revenue Surge WHS segment revenue reached $96.8M, a 100% increase from zero in 2024, driven by construction fees.

Revenue Highly Contracted Approximately 100% of 2025 revenues were under contract, providing high visibility on future financial performance.

Risk Factors

Customer Concentration Remains High Top three customers accounted for 28%, 11%, and 11% of 2025 revenue, increasing dependency risk.

Loss of High-Margin Revenue PCC Contract termination removed significant high-margin revenue, pressuring consolidated gross profit margins.

Operating Costs Increase Risk Significant increases in raw material and labor costs could increase operating expenses and harm profitability.

Occupancy Level Fluctuations Revenue sensitive to occupancy fluctuations; fixed cost structure means lower occupancy causes revenue decline.

Outlook

Margin Improvement Expected 2026 Anticipate margin improvement through 2026 led by new contracts like Expanded Community and Power Contracts.

Focus on WHS Expansion Pursue organic growth, acquisitions, and diversification across WHS segment supporting data center infrastructure.

Disciplined Capital Deployment Growth capital expenditures are selectively pursued, generally underwritten by long-term contracted revenue visibility.

Maintain Strong Liquidity Position Total liquidity of $183.3M, including $175M unused ABL capacity, supports near-term growth strategy funding.

Peer Comparison

Revenue (TTM)

RYI

$4.57B

-0.6%

VLRS

$3.04B

-3.3%

$1.46B

-7.9%

Gross Margin (Latest Quarter)

BWMN

39.0%

-4.7pp

NAT

33.8%

-8.4pp

VLRS

31.9%

-10.1pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
GLDD	$1.13B	15.4	14.8%	34.6%
NAT	$1.11B	91.4	2.6%	47.0%
PRSU	$1.05B	44.9	4.1%	20.2%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

8.7%

Steady Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

100%

Strong Cash Flow

Deep Research

Next earnings:Mar 25, 2026

EPS:-$0.10

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data