Target Hospitality (TH) FCF Margin (2018 - 2026)
Target Hospitality's FCF Margin was 115.30% in Q2 2026, up 97.40 percentage points from 17.90% a year earlier and up 105.87 percentage points from the prior quarter.
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Analysis
Target Hospitality (TH) FCF Margin (2018 - 2026) Analysis & Trends
On a trailing twelve-month basis, Target Hospitality's FCF Margin was 47.32% through Jun 30, 2026, up 22.87 percentage points year-over-year; for FY2025, it came in at 22.87%, down 16.21 percentage points from FY2024.
- FCF Margin shows a five-year change of +2.27 percentage points (FY2020 to FY2025).
- In earlier years, FCF Margin was 39.09% in FY2024 (+11.81 pp), 27.28% in FY2023 (-29.51 pp), 56.79% in FY2022 (+21.03 pp) and 35.76% in FY2021 (+15.15 pp).
- The Q2 2026 figure marks the highest quarterly FCF Margin since Q3 2022.
- Compared with a year earlier, FCF Margin was higher in five of the last eight quarters, with an average year-over-year change of +4.55 percentage points.
- The best year-over-year quarter for FCF Margin over five years was Q3 2022 (a gain of 116.49 percentage points); the worst was Q3 2023 (a drop of 129.08 percentage points).
- Per Business Quant data, TH's FCF Margin in the three quarters before Q2 2026 was 9.43% (Q1 2026), 6.33% (Q4 2025) and 53.65% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Rentals | 64.18 Bn | 62.94 Bn | 1.73 Bn | -5.92% |
| 2 | W.W. Grainger | 62.30 Bn | 59.90 Bn | 1.98 Bn | 6.63% |
| 3 | Fastenal | 58.56 Bn | 57.48 Bn | 1.06 Bn | 8.45% |
| 4 | Ferguson Enterprises | 44.07 Bn | 41.28 Bn | 2.32 Bn | 9.10% |
| 5 | Sunbelt Rentals Holdings | 31.19 Bn | 31.07 Bn | 1.25 Bn | -0.48% |
| 6 | Reliance | 21.34 Bn | 20.38 Bn | 1.30 Bn | 1.49% |
| 7 | Wesco International | 16.69 Bn | 14.00 Bn | 1.46 Bn | 0.38% |
| 8 | Applied Industrial Technologies | 12.48 Bn | 12.35 Bn | 411.22 Mn | 11.81% |
| 9 | Watsco | 11.24 Bn | 8.93 Bn | 578.93 Mn | -0.55% |
| 10 | Target Hospitality | 1.54 Bn | 1.49 Bn | 15.80 Mn | 22.63% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.63% |
| Mar 31, 2026 | -35.35% |
| Dec 31, 2025 | -23.26% |
| Sep 30, 2025 | 37.34% |
| Jun 30, 2025 | 5.45% |
| Mar 31, 2025 | -18.98% |
| Dec 31, 2024 | 29.00% |
| Sep 30, 2024 | 24.84% |
| Jun 30, 2024 | 31.66% |
| Mar 31, 2024 | 39.03% |
| Dec 31, 2023 | 24.57% |
| Sep 30, 2023 | 24.70% |
| Jun 30, 2023 | 24.61% |
| Mar 31, 2023 | -6.42% |
| Dec 31, 2022 | 7.36% |
| Sep 30, 2022 | 118.01% |
| Jun 30, 2022 | -1.10% |
| Mar 31, 2022 | -41.75% |
| Dec 31, 2021 | -8.27% |
| Sep 30, 2021 | 33.88% |
API Access
Target Hospitality FCF Margin 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=fcf-margin&ticker=TH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "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=fcf-margin&ticker=TH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();