Target Hospitality Corp. (TH)

From the record

Target Hospitality Corp.'s filings since 2017 show 6 warning events of 3 kinds: a warning not to rely on past financial statements (8-K item 4.02, the latest 2021-05-06); an auditor change (8-K item 4.01, 2 times, the latest 2019-05-02); a late-report notice (Form NT 10-K or NT 10-Q, 3 times, the latest 2025-05-08) (its current reports).

From the record

Target Hospitality Corp.'s 9 filed years say what it did: revenue went from $134 million in fiscal 2017 to $321 million in fiscal 2025, up 11.5% a year; it rose in 5 of 8 years; the deepest fall was 43% from fiscal 2023 to fiscal 2025; net income was positive in 6 of 9 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, Target Hospitality Corp.'s diluted share count shrank about 0.2% a year, and dividends and buybacks returned about 9% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 3 sales (3 under scheduled 10b5-1 plans) and 5 purchases of their own stock on the open market in the year to 2026-11-12, buying about $3 million (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Target Hospitality Corp. lost about 10 cents for every dollar of shareholders' money, and gross profitability: its products earned about 8 cents per dollar of everything the company owns. Leverage: it owed about 27 cents per dollar of assets, and net share issuance: its share count shrank 1.9% over the year (the filed statements).

From the record

Target Hospitality Corp.'s standing among 3 graded names in its industry family: revenue of $321 million in fiscal 2025 ranks in the bottom 17% by size; a net margin of -11.6% ranks in the bottom 17%; revenue growth of -13.9% a year over the last 3 filed years ranks in the bottom 17% (its annual reports).

From the record

Target Hospitality Corp.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Archer, James B. (Director and CEO and President, as filed), filing under that title since 2019-03-19, 7.7 years (bottom 25% of its family); the 16 officers and directors filing in the last fifteen months have been on the record a median of 5 years (bottom 17%); 14 officer or director changes were reported on Form 8-K since 2023-11-13, against the 16 people in charge now (bottom 17%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Target Hospitality Corp.'s room to grow, from the newest filed statements (fiscal 2025): cash of $8 million against debt of $2 million leaves 1.3% of its assets as net cash, top 17% of its family; cash from operations less capital spending is 23.1% of revenue (top 17%); a gross margin of 13.3% (bottom 25%) (its annual report).

From the record

Target Hospitality Corp.'s growth drivers, from the filed years to fiscal 2025: revenue grew -13.9% a year over the last three filed years against 11.5% over all 9, slowing (bottom 17% of its family); the newest year grew -17% (bottom 17%) (its annual reports). Target Hospitality Corp. reported 4 lines of business in fiscal 2025: Hospitality and Facilities Services South at $142 million, Workforce Hospitality Solutions at $92 million, Government at $71 million, and 1 more. 0 of 4 grew in the latest filed year, and the largest line is 45% of revenue (its annual report).

From the record

Target Hospitality Corp.'s newest year against its own record: revenue of $321 million in fiscal 2025 came in 5.4% below the $339 million its prior three years' pace pointed to (top 50% of its family); net income of $37 million against a prior three-year average of $106 million (top 50%); a net margin of -11.6% against 21.3% before (bottom 17%) (its annual reports).