Target Hospitality (TH) Cost of Revenue (2018 - 2026)
Target Hospitality (TH) posted quarterly Cost of Revenue of $3.6 million for Q1 2026, down 3.11% year-over-year from $3.7 million in Q1 2025, and down 94.4% quarter-over-quarter from $64.0 million in Q4 2025.
Target Hospitality (TH) Cost of Revenue (2018 - 2026) Analysis & Trends
Target Hospitality (TH) has reported Cost of Revenue for 9 consecutive years, with $3.6 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Cost of Revenue fell 3.11% year-over-year to $3.6 million; the TTM figure through Mar 2026 stood at $134.4 million (down 27.2% YoY), while the FY2025 annual figure was $209.3 million, up 58.43% from the prior year.
- Cost of Revenue declined to $3.6 million in Q1 2026 per TH's latest filing, from $64.0 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $116.1 million in Q4 2024 and bottomed at -$79.4 million in Q4 2023.
- Historically, Cost of Revenue has averaged $27.3 million across 5 years, with a median of $33.6 million in 2024.
- Annual changes were most pronounced in 2022 — Cost of Revenue soared 1253.77% — and 2023, when it slumped 286.37%.
- Target Hospitality's Cost of Revenue stood at $42.6 million in 2022, then plunged by 286.37% to -$79.4 million in 2023, then surged by 246.23% to $116.1 million in 2024, then plunged by 44.89% to $64.0 million in 2025, then slumped by 94.4% to $3.6 million in 2026.
- Business Quant data shows TH's Cost of Revenue at $3.6 million in Q1 2026, $64.0 million in Q4 2025, and $64.1 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Cintas | 81.69 Bn | 81.40 Bn | 1.48 Bn | 1.42 Bn |
| 2 | Relx | 64.97 Bn | 64.80 Bn | - | - |
| 3 | Copart | 32.09 Bn | 28.74 Bn | 732.88 Mn | 504.19 Mn |
| 4 | Global Payments | 24.80 Bn | 19.40 Bn | 2.03 Bn | 1.29 Bn |
| 5 | Rb Global | 16.24 Bn | 15.72 Bn | 935.50 Mn | 381.60 Mn |
| 6 | Aramark | 15.68 Bn | 15.18 Bn | 430.34 Mn | 4.63 Bn |
| 7 | UL Solutions | 15.20 Bn | 14.77 Bn | 417.00 Mn | 399.00 Mn |
| 8 | Rentokil Initial | 11.80 Bn | 9.27 Bn | - | - |
| 9 | Dolby Laboratories | 6.05 Bn | 5.38 Bn | 264.68 Mn | 40.32 Mn |
| 10 | Target Hospitality | 1.76 Bn | 1.76 Bn | 15.80 Mn | 47.58 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 47.58 Mn |
| Jun 30, 2026 | 47.58 Mn |
| Mar 31, 2026 | 3.59 Mn |
| Mar 31, 2026 | 3.59 Mn |
| Dec 31, 2025 | 63.97 Mn |
| Dec 31, 2025 | 63.97 Mn |
| Sep 30, 2025 | 64.05 Mn |
| Sep 30, 2025 | 64.05 Mn |
| Jun 30, 2025 | 2.79 Mn |
| Jun 30, 2025 | 2.79 Mn |
| Mar 31, 2025 | 3.70 Mn |
| Mar 31, 2025 | 3.70 Mn |
| Dec 31, 2024 | 116.08 Mn |
| Dec 31, 2024 | 116.08 Mn |
| Sep 30, 2024 | 31.26 Mn |
| Sep 30, 2024 | 31.26 Mn |
| Jun 30, 2024 | 33.56 Mn |
| Jun 30, 2024 | 33.56 Mn |
| Mar 31, 2024 | 5.91 Mn |
| Mar 31, 2024 | 5.91 Mn |