10x Insights
Loading account…
Companies / Consumer Discretionary / Target Hospitality Corp.
TH

Target Hospitality Corp.

Ticker THTHE WOODLANDS, TXFiscal year ends DecemberBook value per share $3.70Diluted shares 100.1M

Target Hospitality Corp. (Nasdaq: TH) provides specialty rental accommodations, hospitality and facilities-management services across North America, serving customers in natural resource and critical mineral development, power generation, data center infrastructure, and U.S. government-related programs. Its turnkey… From the company’s description.

Over the twelve months to Jun 30, 2026, Target Hospitality Corp. reported revenue of $347.37M, up 11.9% from a year earlier, and a net loss of $37.64M. Its operating margin was −11.1%, and operations generated $170.11M in cash. In fiscal 2025, it reported revenue of $320.63M, down 17.0% from fiscal 2024, and a net loss of $37.08M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$320.63MFY2025
−17.0% year over year
Last 12 mo $347.37M
-10.84%FY2025
−39 percentage points
Last 12 mo -11.10%
$-37.08MFY2025
−151.9% year over year
Last 12 mo $-37.64M
-9.54%FY2025
−26.5 percentage points
Last 12 mo -10.18%
Cash & financing
$74.09MFY2025
−51.2% year over year
Last 12 mo $170.11M
$73.34MFY2025
−51.4% year over year
Last 12 mo $164.39M
0.01FY2025
Was 0.44× a year earlier
Last 12 mo 0.12
99.5MFY2025
−1.9% year over year
Last 12 mo 100.1M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Target Hospitality Corp. does

In the company’s own words

Target Hospitality Corp. (Nasdaq: TH) provides specialty rental accommodations, hospitality and facilities-management services across North America, serving customers in natural resource and critical mineral development, power generation, data center infrastructure, and U.S. government-related programs. Its turnkey offerings include modular workforce housing, catering, housekeeping, laundry, security, recreation and community operations, often under multi-year customer contracts. The company reports three segments: HFS–South, serving natural-resource customers in Texas and New Mexico, generated 44% of 2025 revenue; Workforce Hospitality Solutions, supporting critical-mineral, data center and power projects, generated 30%; and Government, serving immigration-related and residential programs, generated approximately 22%. The company also reports an All Other category. In 2025, Target Hospitality recorded approximately $321 million in revenue and operated 29 communities with 16,991 beds, in addition to operating two communities it did not own or lease. Its operations trace back to businesses founded in 1978, while it began operating as a specialty rental and hospitality services company in 2006.

Company details
Sector
Consumer Discretionary
Industry (SIC)
Services
Headquarters
THE WOODLANDS, TX
Fiscal year end
December
CIK
1712189
SIC
7000

Financial performance, year by year

Fiscal 2018–2025 · USD
$-97.77M$82.61M$262.98M$443.36M$623.73M20182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Target Hospitality Corp. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

179
funds hold it
0 of 35
superinvestors hold it
$190.71M
held by funds, at market
10.4%
of shares held by funds

Largest fund holders · Target Hospitality Corp.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.03%of fund net assets
Avantis U.S. Small Cap Value ETF
AVUV · American Century ETF Trust
—of fund net assets
Hood River Small-Cap Growth Fund
HRSMX · Manager Directed Portfolios
0.14%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.01%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Target Hospitality Corp. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Target Hospitality Corp.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Target Hospitality Corp.'s last four quarterly filings that the numbers alone won't show?”
See how it works →All research tools with a subscription. Use your own AI account.