Target Hospitality (TH) Free Cash Flow (2018 - 2026)
Target Hospitality's (TH) quarterly Free Cash Flow came in at $85.8 million in Q2 2026, up 570.09% year-over-year from $12.8 million in Q2 2025, and up 5582.7% quarter-over-quarter from $1.5 million in Q1 2026.
Powered by 
Analysis
Target Hospitality (TH) Free Cash Flow (2018 - 2026) Analysis & Trends
Target Hospitality (TH) has reported Free Cash Flow for 9 consecutive years, with $85.8 million the latest figure, recorded in Q2 2026.
- On a quarterly basis, Free Cash Flow rose 570.09% year-over-year to $85.8 million in Q2 2026; TTM through Jun 2026 was $145.2 million, a 89.15% increase from a year earlier, with the FY2025 full-year figure at $72.3 million, down 52.14% from the prior year.
- Free Cash Flow was $85.8 million for Q2 2026 at Target Hospitality, up from $1.5 million in the prior quarter.
- Over five years, Free Cash Flow peaked at $257.1 million in Q3 2022 and troughed at -$30.7 million in Q1 2022.
- A 5-year average of $41.6 million and a median of $35.4 million in 2024 frame the typical range for Free Cash Flow.
- The widest YoY moves for Free Cash Flow: up 840.33% in 2022, down 282.37% in 2022.
- Over 5 years, Free Cash Flow stood at $47.3 million in 2022, then slipped by 19.15% to $38.2 million in 2023, then slipped by 14.59% to $32.6 million in 2024, then plunged by 51.19% to $15.9 million in 2025, then jumped by 438.37% to $85.8 million in 2026.
- The last three Free Cash Flow figures came in at $85.8 million (Q2 2026), $1.5 million (Q1 2026), and $15.9 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Sunbelt Rentals Holdings | 30.16 Bn | 30.13 Bn | 1.25 Bn | 81.00 Mn |
| 2 | Herc Holdings | 4.52 Bn | 4.48 Bn | 713.00 Mn | 29.00 Mn |
| 3 | EquipmentShare.com | 3.88 Bn | 3.43 Bn | 411.00 Mn | - |
| 4 | WillScot Holdings | 3.29 Bn | 3.29 Bn | 306.26 Mn | 40.23 Mn |
| 5 | Mcgrath Rentcorp | 2.71 Bn | 2.71 Bn | 107.91 Mn | -15.79 Mn |
| 6 | Target Hospitality | 2.13 Bn | 2.12 Bn | 15.80 Mn | 85.75 Mn |
| 7 | Custom Truck One Source | 2.12 Bn | 2.11 Bn | 123.97 Mn | -50.31 Mn |
| 8 | NPK International | 1.08 Bn | 1.07 Bn | 30.16 Mn | 5.39 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 85.75 Mn |
| Mar 31, 2026 | 1.51 Mn |
| Dec 31, 2025 | 15.93 Mn |
| Sep 30, 2025 | 41.99 Mn |
| Jun 30, 2025 | 12.80 Mn |
| Mar 31, 2025 | 1.55 Mn |
| Dec 31, 2024 | 32.64 Mn |
| Sep 30, 2024 | 29.77 Mn |
| Jun 30, 2024 | 38.13 Mn |
| Mar 31, 2024 | 50.46 Mn |
| Dec 31, 2023 | 38.21 Mn |
| Sep 30, 2023 | 47.39 Mn |
| Jun 30, 2023 | 60.85 Mn |
| Mar 31, 2023 | 7.29 Mn |
| Dec 31, 2022 | 47.26 Mn |
| Sep 30, 2022 | 257.12 Mn |
| Jun 30, 2022 | 11.38 Mn |
| Mar 31, 2022 | -30.70 Mn |
| Dec 31, 2021 | 5.03 Mn |
| Sep 30, 2021 | 40.79 Mn |
API Access
Target Hospitality Free Cash Flow 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=free-cash-flow&ticker=TH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=TH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();