Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $75.4M | $187M | $261M | $172M | $214M | $334M | $366M | $266M | $275M |
| Revenue growth | — | 147.8% | 39.8% | -34.1% | 24.5% | 55.6% | 9.6% | -27.3% | 3.4% |
| Gross profit | $53.0M | $90.2M | $147M | $57.2M | $101M | $247M | $313M | $178M | $42.7M |
| Gross margin | 70.3% | 48.3% | 56.3% | 33.2% | 47.3% | 74.1% | 85.7% | 67.0% | 15.5% |
| Operating income | $21.5M | $40.9M | $48.0M | $4.10M | $37.1M | $174M | $241M | $109M | -$34.7M |
| Operating margin | 28.5% | 21.9% | 18.4% | 2.4% | 17.3% | 52.3% | 65.8% | 40.9% | -12.6% |
| Net income | $981K | $4.96M | $12.0M | -$25.1M | -$4.58M | $73.9M | $174M | $71.3M | -$37.1M |
| Net margin | 1.3% | 2.7% | 4.6% | -14.6% | -2.1% | 22.2% | 47.5% | 26.8% | -13.5% |
| EPS (diluted) | $0.04 | $0.12 | $0.13 | -$0.26 | -$0.05 | $0.74 | $1.56 | $0.70 | -$0.37 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $40.8M | $26.2M | $60.5M | $46.8M | $105M | $306M | $157M | $152M | $74.1M |
| Share buybacks | — | — | $18.2M | $5.32M | — | — | — | $33.5M | — |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $12.5M | $12.2M | $6.79M | $6.98M | $23.4M | $182M | $104M | $191M | $8.35M |
| Total assets | $242K | $565M | $601M | $534M | $513M | $772M | $694M | $726M | $530M |
| Total liabilities | $226K | $216M | $477M | $435M | $416M | $571M | $317M | $305M | $141M |
| Long-term debt | — | — | $422M | $392M | $341M | — | $178M | — | — |
| Shareholders' equity | $24.9M | $349M | $121M | $98.9M | $97.3M | $201M | $377M | $421M | $389M |
| Retained earnings | -$8.81K | $31.5M | $37.7M | $18.3M | $13.7M | $87.7M | $261M | $332M | $295M |
| Shares (wtd avg diluted) | — | 74.8M | 94.5M | 96.0M | 96.6M | 100M | 105M | 101M | 99.5M |
Every figure is extracted from Target Hospitality Corp.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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