Target Hospitality (TH) EV to FCF (2020 - 2026)
Target Hospitality's EV to FCF came in at 12.38 for Q2 2026, up 36.0% from 9.10 a year earlier and up 3.1% from the prior quarter.
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Analysis
Target Hospitality (TH) EV to FCF (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Target Hospitality reported EV to FCF of 12.11, up 219.0% year-over-year; for FY2025, it came in at 10.78, up 112.8% from FY2024.
- Going back by year, EV to FCF was 5.07 in FY2024 (-12.0%), 5.76 in FY2023 (+22.8%), 4.69 in FY2022 (+43.9%) and 3.26 in FY2021 (-1.1%).
- The Q2 2026 figure represents the highest quarterly EV to FCF since Q2 2022.
- Year-over-year, EV to FCF has increased for six consecutive quarters, with growth averaging 54.7% over the last eight quarters.
- The fastest year-over-year change in EV to FCF over five years came in Q2 2022 (growth of 363.2%), and the weakest in Q2 2023 (a decline of 83.8%).
- Business Quant data shows TH's EV to FCF at 12.01 (Q1 2026), 10.78 (Q4 2025) and 8.34 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | United Rentals | 64.18 Bn | 62.94 Bn | 1.73 Bn |
| 2 | W.W. Grainger | 62.30 Bn | 59.90 Bn | 1.98 Bn |
| 3 | Fastenal | 58.56 Bn | 57.48 Bn | 1.06 Bn |
| 4 | Ferguson Enterprises | 44.07 Bn | 41.28 Bn | 2.32 Bn |
| 5 | Sunbelt Rentals Holdings | 31.19 Bn | 31.07 Bn | 1.25 Bn |
| 6 | Reliance | 21.34 Bn | 20.38 Bn | 1.30 Bn |
| 7 | Wesco International | 16.69 Bn | 14.00 Bn | 1.46 Bn |
| 8 | Applied Industrial Technologies | 12.48 Bn | 12.35 Bn | 411.22 Mn |
| 9 | Watsco | 11.24 Bn | 8.93 Bn | 578.93 Mn |
| 10 | Target Hospitality | 1.54 Bn | 1.49 Bn | 15.80 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 207.21 |
| Dec 31, 2025 | 125.49 |
| Sep 30, 2025 | 15.85 |
| Jun 30, 2025 | 18.18 |
| Mar 31, 2025 | 9.31 |
| Dec 31, 2024 | 6.30 |
| Sep 30, 2024 | 4.70 |
| Jun 30, 2024 | 5.12 |
| Mar 31, 2024 | 6.69 |
| Dec 31, 2023 | 9.53 |
| Sep 30, 2023 | 20.64 |
| Jun 30, 2023 | 5.74 |
| Mar 31, 2023 | 6.83 |
| Dec 31, 2022 | 8.12 |
| Sep 30, 2022 | 7.16 |
| Mar 31, 2022 | 12.42 |
| Dec 31, 2021 | 4.94 |
| Sep 30, 2021 | 3.76 |
| Jun 30, 2021 | 5.59 |
| Mar 31, 2021 | 10.66 |
API Access
Target Hospitality EV to FCF API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-fcf&ticker=TH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "ticker": "TH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-fcf&ticker=TH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();