Target Hospitality Corp. (TH)
NASDAQ: TH · Real-Time Price · USD
11.59
-0.39 (-3.26%)
At close: Nov 13, 2026, 4:00 PM EST
11.63
+0.04 (0.35%)
After-hours: Nov 13, 2026, 7:30 PM EST
Target Hospitality Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Net Income | -46.1 | -37.12 | 71.27 | 173.7 | 73.94 | -4.58 |
Depreciation & Amortization | 86.15 | 73.52 | 72.95 | 84.15 | 67.83 | 70.32 |
Other Amortization | 1.14 | 1.18 | 2.84 | 3.63 | 5.4 | 4.98 |
Loss (Gain) From Sale of Assets | 1.54 | 0.01 | -0.32 | 0.14 | -0.1 | 0.38 |
Stock-Based Compensation | 7.82 | 7.55 | 7.31 | 11.17 | 19.24 | 5.08 |
Provision & Write-off of Bad Debts | 0.42 | 0.7 | 0.26 | 0.54 | 0.41 | 1.63 |
Other Operating Activities | 12.19 | 4.53 | 6.5 | 48.92 | 72.4 | 1.54 |
Change in Accounts Receivable | -42.88 | -7.51 | 17.6 | -25.8 | -13.69 | -2.23 |
Change in Accounts Payable | 16.7 | 23.15 | -13.57 | -10.39 | 6.37 | 9.93 |
Change in Unearned Revenue | 135.63 | 17.34 | -4.24 | -120.05 | 91.11 | 16.04 |
Change in Other Net Operating Assets | -12.69 | -9.25 | -8.92 | -9.21 | -17.29 | 1.51 |
Operating Cash Flow | 159.93 | 74.09 | 151.68 | 156.8 | 305.61 | 104.6 |
Operating Cash Flow Growth | 61.69% | -51.15% | -3.27% | -48.69% | 192.18% | 123.59% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Capital Expenditures | -309.92 | -67.79 | -30.24 | -63.87 | -140.84 | -35.92 |
Sale of Property, Plant & Equipment | 0.77 | - | 1.4 | 0.24 | 0.62 | - |
Sale (Purchase) of Intangibles | - | - | - | -4.55 | - | - |
Other Investing Activities | -53.47 | - | - | - | - | - |
Investing Cash Flow | -362.61 | -67.79 | -28.84 | -68.18 | -140.23 | -35.92 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Short-Term Debt Issued | - | - | - | - | 70 | - |
Long-Term Debt Issued | - | 75 | - | - | - | 28 |
Total Debt Issued | 329.3 | 75 | - | - | 70 | 28 |
Short-Term Debt Repaid | - | - | - | - | -70 | - |
Long-Term Debt Repaid | - | -258.79 | -1.7 | -154.46 | -6.51 | -80.17 |
Total Debt Repaid | -108.9 | -258.79 | -1.7 | -154.46 | -76.51 | -80.17 |
Net Debt Issued (Repaid) | 220.4 | -183.79 | -1.7 | -154.46 | -6.51 | -52.17 |
Issuance of Common Stock | 0.21 | - | 1.85 | 1.61 | 0.31 | - |
Repurchase of Common Stock | -31.17 | -2.24 | -36.16 | -6.82 | -0.12 | -0.1 |
Other Financing Activities | -13.76 | -2.61 | -0.07 | -6.7 | -0.77 | - |
Financing Cash Flow | 175.68 | -188.64 | -36.06 | -166.37 | -7.1 | -52.27 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | -0.01 | 0.02 | -0.03 | 0 | -0.02 | 0.01 |
Net Cash Flow | -27.02 | -182.32 | 86.74 | -77.74 | 158.27 | 16.43 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Free Cash Flow | -149.99 | 6.3 | 121.43 | 92.93 | 164.77 | 68.68 |
Free Cash Flow Growth | - | -94.81% | 30.67% | -43.60% | 139.89% | 100.70% |
Free Cash Flow Margin | -39.78% | 1.97% | 31.44% | 16.49% | 32.82% | 23.57% |
Free Cash Flow Per Share | -1.50 | 0.06 | 1.20 | 0.88 | 1.65 | 0.71 |
Levered Free Cash Flow | -144.93 | 17.26 | 112.65 | 25.28 | 124.76 | 74.12 |
Unlevered Free Cash Flow | -142.56 | 21.34 | 124.38 | 38.38 | 143.03 | 93.33 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Cash Interest Paid | 12.98 | 12.98 | 17.98 | 29.27 | 32.65 | 33.77 |
Cash Income Tax Paid | 2.82 | 2.82 | 28.77 | 5.97 | 4.87 | 0.77 |
Change in Working Capital | 96.77 | 23.72 | -9.12 | -165.46 | 66.49 | 25.25 |