Target Hospitality (TH) Cost of Revenue (2018 - 2026)
On a quarterly basis, Cost of Revenue fell 89.98% to $3.6 million in Q1 2026 year-over-year; TTM through Mar 2026 was $62.2 million, a 39.61% decrease, with the full-year FY2024 number at $132.1 million, up 339.24% from a year prior.
Target Hospitality (TH) has 9 years of Cost of Revenue data on record, last reported at $3.6 million in Q1 2026.
- Cost of Revenue reached $3.6 million in Q1 2026 per TH's latest filing, up from -$8.3 million in the prior quarter.
- Over the last five years, Cost of Revenue for TH hit a ceiling of $64.1 million in Q3 2025 and a floor of -$79.4 million in Q4 2023.
- A 5-year average of $17.4 million and a median of $30.4 million in 2024 define the central range for Cost of Revenue.
- Peak YoY movement for Cost of Revenue: soared 772.33% in 2022, then plummeted 286.37% in 2023.
- Tracing TH's Cost of Revenue over 5 years: stood at $42.6 million in 2022, then tumbled by 286.37% to -$79.4 million in 2023, then surged by 138.3% to $30.4 million in 2024, then crashed by 127.2% to -$8.3 million in 2025, then surged by 143.35% to $3.6 million in 2026.
- Business Quant data shows Cost of Revenue for TH at $3.6 million in Q1 2026, -$8.3 million in Q4 2025, and $64.1 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Relx | 81.40 Bn | 81.16 Bn | - | - |
| 2 | Rentokil Initial | 79.56 Bn | 78.10 Bn | - | - |
| 3 | Cintas | 69.26 Bn | 69.08 Bn | 1.45 Bn | 1.39 Bn |
| 4 | Copart | 33.09 Bn | 28.01 Bn | 971.24 Mn | 150.43 Mn |
| 5 | UL Solutions | 20.56 Bn | 20.32 Bn | 381.00 Mn | 377.00 Mn |
| 6 | Global Payments | 19.88 Bn | 14.69 Bn | 1.70 Bn | 1.27 Bn |
| 7 | Rb Global | 19.08 Bn | 18.89 Bn | 869.50 Mn | 365.10 Mn |
| 8 | Aramark | 13.57 Bn | 13.16 Bn | 426.35 Mn | 4.48 Bn |
| 9 | Amentum Holdings | 5.65 Bn | 5.74 Bn | 345.00 Mn | 3.13 Bn |
| 10 | Target Hospitality | 1.82 Bn | 1.82 Bn | 6.88 Mn | 3.59 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 3.59 Mn |
| Mar 31, 2026 | 3.59 Mn |
| Dec 31, 2025 | -8.27 Mn |
| Dec 31, 2025 | -8.27 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 | 35.77 Mn |
| Mar 31, 2025 | 35.77 Mn |
| Dec 31, 2024 | 30.41 Mn |
| Dec 31, 2024 | 30.41 Mn |
| Sep 30, 2024 | 31.26 Mn |
| Sep 30, 2024 | 31.26 Mn |
| Jun 30, 2024 | 5.49 Mn |
| Jun 30, 2024 | 5.49 Mn |
| Mar 31, 2024 | 36.92 Mn |
| Mar 31, 2024 | 36.92 Mn |
| Dec 31, 2023 | -79.39 Mn |
| Dec 31, 2023 | -79.39 Mn |
| Sep 30, 2023 | 34.04 Mn |
| Sep 30, 2023 | 34.04 Mn |
| Jun 30, 2023 | 35.73 Mn |
| Jun 30, 2023 | 35.73 Mn |
| Mar 31, 2023 | 8.56 Mn |
| Mar 31, 2023 | 8.56 Mn |
| Dec 31, 2022 | 42.60 Mn |
| Dec 31, 2022 | 42.60 Mn |
| Sep 30, 2022 | 8.03 Mn |
| Sep 30, 2022 | 8.03 Mn |
| Jun 30, 2022 | 40.01 Mn |
| Jun 30, 2022 | 40.01 Mn |
| Mar 31, 2022 | 4.93 Mn |
| Mar 31, 2022 | 4.93 Mn |
| Dec 31, 2021 | 5.15 Mn |
| Dec 31, 2021 | 5.15 Mn |
| Sep 30, 2021 | 37.06 Mn |
| Sep 30, 2021 | 37.06 Mn |
| Jun 30, 2021 | 4.59 Mn |
| Jun 30, 2021 | 4.59 Mn |
| Mar 31, 2021 | 2.24 Mn |
| Mar 31, 2021 | 2.24 Mn |
| Dec 31, 2020 | -73.61 Mn |
| Dec 31, 2020 | -73.61 Mn |
| Sep 30, 2020 | 21.99 Mn |
| Sep 30, 2020 | 21.99 Mn |
| Jun 30, 2020 | 31.46 Mn |
| Jun 30, 2020 | 31.46 Mn |
| Mar 31, 2020 | 29.01 Mn |
| Mar 31, 2020 | 29.01 Mn |
| Dec 31, 2019 | 2.75 Mn |
| Dec 31, 2019 | 2.75 Mn |
| Sep 30, 2019 | 29.47 Mn |
| Sep 30, 2019 | 29.47 Mn |
| Jun 30, 2019 | 2.49 Mn |
| Jun 30, 2019 | 2.49 Mn |
| Mar 31, 2019 | 2.32 Mn |
| Mar 31, 2019 | 2.32 Mn |
| Dec 31, 2018 | 2.58 Mn |
| Dec 31, 2018 | 2.58 Mn |
| Sep 30, 2018 | 2.77 Mn |
| Sep 30, 2018 | 2.77 Mn |
| Jun 30, 2018 | 2.60 Mn |
| Jun 30, 2018 | 2.60 Mn |
| Mar 31, 2018 | 2.43 Mn |
| Mar 31, 2018 | 2.43 Mn |