Target Hospitality Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	320.64	386.27	563.61	501.99	291.34
Revenue Growth (YoY)	-16.99%	-31.46%	12.28%	72.30%	29.40%
Cost of Revenue	277.98	208.09	250.28	254.86	189.99
Gross Profit	42.66	178.18	313.32	247.13	101.35
Selling, General & Admin	58.51	54.26	56.13	57.89	46.46
Depreciation & Amortization Expenses	16.2	15.64	15.35	14.83	16.91
Other Operating Expenses	2.69	-0.5	1.24	0.04	0.88
Total Operating Expenses	77.41	69.4	72.72	72.76	64.25
Operating Income	-34.75	108.78	240.61	174.37	37.1
Interest Expense	-6.09	-16.62	-22.64	-36.32	-38.7
Other Non-Operating Income (Expense)	-2.37	-0.68	-11.34	31.74	1.07
Total Non-Operating Income (Expense)	-8.46	-17.29	-33.98	-4.59	-37.64
Pretax Income	-43.2	92.84	224.75	106.31	-2.67
Provision for Income Taxes	-6.13	21.43	51.05	32.37	1.9
Net Income	-37.12	71.27	173.7	73.94	-4.58
Minority Interest in Earnings	0.04	0.14	-	-	-
Net Income to Common	-37.12	71.27	173.7	73.94	-4.58
Net Income Growth	-	-58.97%	134.92%	-	-
Shares Outstanding (Basic)	100	100	101	97	97
Shares Outstanding (Diluted)	100	101	105	100	97
Shares Change (YoY)	-1.89%	-3.69%	5.26%	3.57%	0.62%
EPS (Basic)	-0.37	0.71	1.71	0.76	-0.05
EPS (Diluted)	-0.37	0.70	1.56	0.74	-0.05
EPS Growth	-	-55.13%	110.81%	-	-
Free Cash Flow	6.3	121.43	92.93	164.97	68.68
Free Cash Flow Growth	-94.81%	30.67%	-43.67%	140.19%	100.70%
Free Cash Flow Per Share	0.06	1.20	0.88	1.65	0.71
Gross Margin	13.30%	46.13%	55.59%	49.23%	34.79%
Operating Margin	-10.84%	28.16%	42.69%	34.74%	12.73%
Profit Margin	-11.56%	18.49%	30.82%	14.73%	-1.57%
FCF Margin	1.97%	31.44%	16.49%	32.86%	23.58%
EBITDA	38.64	181.59	324.58	242.03	107.62
EBITDA Margin	12.05%	47.01%	57.59%	48.21%	36.94%
EBIT	-34.75	108.78	240.61	174.37	37.1
EBIT Margin	-10.84%	28.16%	42.69%	34.74%	12.73%
Effective Tax Rate	14.18%	23.08%	22.71%	30.45%	-71.26%

Updated Mar 11, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q