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Provides modular workforce housing communities for energy, government and disaster-response customers, mainly in Texas.
Provides modular workforce housing communities for energy, government and disaster-response customers, mainly in Texas.
Signs multi-year contracts under which customers commit to paying for beds whether or not they are fully used, then runs the housing, meals and cleaning. Oilfield communities and a federal government contract have been the main sources of demand, and revenue follows how many beds are under contract.
Moat: narrow (scale, installed base, regulatory licence). Large existing bed inventory near key basins and government contract relationships are hard to replicate quickly.
Headquarters: The Woodlands, Texas, United States · Founded: 2006 · Employees: 902
Size Target Hospitality (TH) is a United States Consumer Discretionary company (Hotels/Resorts/Cruise lines) with a market value of $1.13B, the 2174th largest of 3,117 United States companies the cockpit tracks. Shares closed at $11.36 on 6 Nov 2026.
Performance Over six months the shares fell 25.9%, against -9.1% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 20 in its peer set.
Growth Revenue grew 11.9% over the last twelve months (peer median +5.6%); the operating margin is -9.4% (peer median 17.7%).
Valuation It trades at 22.9× forward earnings against a peer median of 15.6× (6th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 50% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +43 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 18.7 points below its cost of capital (12.4% WACC).
Backlog Backlog (remaining performance obligations) was $263M at 30 Jun 2026, up 71% on a year earlier — 0.8 years of trailing revenue. Backlog detail →
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $347M | $321M | $386M | $564M | $502M |
| Revenue growth | — | -17% | -31% | +12% | — |
| Gross profit | $17.9M | $13.0M | $162M | $297M | $231M |
| EBITDA | $62.8M | $61.5M | $187M | $332M | $255M |
| Net income | -$37.7M | -$37.1M | $71.3M | $165M | $73.9M |
| Free cash flow | $10.9M | $5.77M | $121M | $87.7M | $165M |
| Capital expenditure | $160M | $67.8M | $30.2M | $68.4M | $141M |
| Total debt | $48.3M | $10.7M | $210M | $201M | $355M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Target Hospitality TH | $1.13B | -26% | +12% | -9% | 22.9× | 49.9% |
| WillScot WSC | $3.42B | -33% | -3% | 21% | 17.0× | n/a |
| Civeo CVEO | $354M | +10% | +13% | 3% | n/a | 13.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TH | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -38.0% | -0.6% | lowest of 21 |
| 6-month return | -25.9% | -9.1% | 3rd lowest of 20 |
| Distance from 52-week high | -47.8% | -26.1% | 4th lowest of 21 |
| Revenue growth (TTM) | +11.9% | +5.6% | 4th highest of 21 |
| Operating margin | -9.4% | 17.7% | lowest of 21 |
| Forward P/E | 22.9× | 15.6× | 6th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 49.9% | -0.6% | most demanding of 20 |
| Growth delivered (Del g) | +7.3% | +19.4% | 4th lowest of 20 |
| Hurdle (Req g minus delivered) | +42.5 pp | -20.2 pp | most demanding of 20 |
| ROIC minus cost of capital | -18.7 pp | +1.7 pp | lowest of 21 |
| EV / EBITDA | 18.7× | 12.5× | 3rd most expensive of 18 |
| Net debt / EBITDA | 0.7× | 2.6× | 5th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Target Hospitality TH | United States | $1.13B | -26% | +12% | -9% | 22.9× | 49.9% | +7.3% |
| Hongkong & Shanghai Hotels 0045.HK | Hong Kong | $1.11B | -12% | -4% | 13% | n/a | 4.0% | +24.1% |
| Fujita Kanko 9722.T | Japan | $1.08B | +37% | +3% | 16% | 12.9× | -4.6% | +25.2% |
| NagaCorp 3918.HK | Hong Kong | $1.21B | -48% | +12% | 58% | 4.7× | -19.3% | -4.1% |
| HtlShilla 008770.KS | South Korea | $985M | -46% | +1% | 3% | 15.1× | -7.6% | +5.0% |
| Lemon Tree Hotels LEMONTREE.NS | India | $984M | -4% | +10% | 38% | 31.1× | 17.4% | +41.3% |
| Pierre et Vacances VAC.PA | France | $974M | -1% | +5% | 15% | 15.6× | -0.6% | +9.8% |
| Ventive Hospitality VENTIVE.NS | India | $1.34B | -17% | +15% | 29% | 26.2× | 29.9% | +78.5% |
| Great Eagle 0041.HK | Hong Kong | $1.37B | -24% | +75% | 12% | n/a | -0.9% | +13.8% |
| Huangshan Tourism Development 600054.SS | China | $926M | -13% | +2% | 20% | 23.0× | -9.4% | +23.2% |
| Guangzhou Lingnan 000524.SZ | China | $885M | -19% | +6% | 2% | 62.9× | 11.7% | +19.4% |
| PPHE Hotel PPH.L | United Kingdom | $864M | -2% | +5% | 19% | 21.0× | 7.7% | +35.6% |
| Centurion OU8.SI | Singapore | $810M | -18% | +26% | 61% | 11.3× | -3.8% | +18.2% |
| SkiStar SKIS-B.ST | Sweden | $1.58B | +27% | +7% | 17% | 21.3× | 8.4% | +12.5% |
| Kelsian KLS.AX | Australia | $797M | +5% | +9% | 6% | 11.2× | 9.2% | +15.4% |
| Melco Resorts & Entertainment Ltd. Sponsored ADR MLCO | United States | $1.79B | -16% | +6% | 12% | 7.5× | -6.2% | +24.5% |
| Shangri-La Asia 0069.HK | Hong Kong | $1.87B | -9% | +5% | 35% | 10.6× | -8.7% | +16.8% |
| Chalet Hotels CHALET.NS | India | $1.88B | +2% | -17% | 34% | 28.1× | 24.1% | +57.5% |
| Waterways Leisure Tourism CORDELIA.NS | India | $677M | n/a | -2% | 14% | n/a | n/a | n/a |
| Formosa International Hotels 2707.TW | Taiwan | $668M | +2% | +6% | 26% | 13.3× | -7.7% | +4.7% |
| Monarch Casino & Resort MCRI | United States | $1.92B | -8% | +5% | 27% | 15.6× | 6.7% | +24.2% |
Target Hospitality reported $263M of remaining performance obligations at 30 Jun 2026, up 71% from a year earlier and up 4% from the previous quarter. That is 0.8 years of trailing revenue already under contract. Book-to-bill last quarter: 1.12.