# TARGET HOSPITALITY CORP. (TH) · Edgar & Edgarette company card

> Target Hospitality (TH) saw revenue fall 17.0% in FY2025 to $321 million, operating margin -10.8% against a 13.8% median for hotels, rooming houses, camps & other lodging places, equity 73.4% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1712189 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/TH) · [JSON](https://www.pops4.com/boards/company/TH.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $321M |
| Revenue growth, 1 year | -17.0% |
| Revenue growth per year | 2.4% |
| Operating margin | -10.8% (prior year 28.2%) |
| Net margin | -11.6% |
| Operating cash flow | $74M |
| Capital spending | — |
| Free cash flow | — |
| Cash | $8M |
| Long-term debt | $4M |
| Total assets | $530M |
| Total equity | $389M |
| Equity ÷ assets | 73.4% |
| Return on equity | -9.5% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 4.14 (safe zone)
- Piotroski F: 4 of 9 (middling)
- Health Harbor boat: Old boat · three warning signs · slow and jumpy: growing slower than its size class, with revenue that swings more; operating loss: a margin of -10.8% in FY2025; revenue is hard to predict: its 80% range is ±45%
- Cash Compass: Fading · slow and jumpy, lagging its peers

## Edgarette's reading

Exposure: revenue $320.6M (FY2025), total debt $3.8M. Experience: revenue down 17.0% on the year, up 2.4% a year over 4 years; operating margin -10.8%, down from 28.2%. Soundness: equity 73.4% of assets, return on equity -9.5%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $165.4M and $432.5M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $129.7M to $556.9M. A statistical range, not company guidance. Against peers (21 filers, $50M+ revenue, its industry group): operating margin -10.8% against a 13.8% median; growth -17.0% against 3.5%.

Range logged 2026-09-26, receipt 5b07e11cb758fd9e, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 6, latest 2026-08-05 ([filing](https://www.sec.gov/Archives/edgar/data/1712189/000110465926090700/0001104659-26-090700-index.htm))

## Recent filings

- 8-K · filed 2026-09-09 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1712189/000110465926106345/0001104659-26-106345-index.htm)
- 8-K · filed 2026-09-01 · 7.01 Regulation FD Disclosure · [filing](https://www.sec.gov/Archives/edgar/data/1712189/000110465926104096/0001104659-26-104096-index.htm)
- 8-K · filed 2026-08-26 · 7.01 Regulation FD Disclosure; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1712189/000110465926101033/0001104659-26-101033-index.htm)
- 10-Q · filed 2026-08-10 · [filing](https://www.sec.gov/Archives/edgar/data/1712189/000110465926093264/0001104659-26-093264-index.htm)
- 8-K · filed 2026-08-10 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1712189/000110465926093011/0001104659-26-093011-index.htm)
- 8-K · filed 2026-08-05 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1712189/000110465926090700/0001104659-26-090700-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001712189.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1712189

## Cite

POPS4, Edgar & Edgarette: TARGET HOSPITALITY CORP. (TH) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/TH. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.