Target Hospitality (TH) Gross Margin (2018 - 2026)
Target Hospitality (TH) reported Gross Margin of 18.49% for Q2 2026, up 19.02 percentage points from -0.53% a year earlier and up 9.03 percentage points from the prior quarter.
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Analysis
Target Hospitality (TH) Gross Margin (2018 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Target Hospitality's Gross Margin came in at 13.73%, down 18.45 percentage points year-over-year; for FY2025, it was 13.30%, down 32.82 percentage points from FY2024.
- Gross Margin has a five-year change of -12.08 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 46.13% in FY2024 (-9.46 pp), 55.59% in FY2023 (+6.36 pp), 49.23% in FY2022 (+14.44 pp) and 34.79% in FY2021 (+9.40 pp).
- The Q2 2026 figure ranks as the highest quarterly Gross Margin since Q1 2025.
- Year over year, Gross Margin gained in 1 of the last eight quarters, with an average year-over-year change of -18.43 percentage points.
- The high point for year-over-year Gross Margin in five years was Q1 2023 (a gain of 20.70 percentage points); the low point was Q2 2025 (a drop of 47.07 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 9.46% (Q1 2026), 7.88% (Q4 2025) and 18.06% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Rentals | 65.20 Bn | 63.96 Bn | 1.73 Bn | 39.27% |
| 2 | W.W. Grainger | 62.72 Bn | 60.31 Bn | 1.98 Bn | 39.51% |
| 3 | Fastenal | 59.34 Bn | 58.26 Bn | 1.06 Bn | 44.56% |
| 4 | Ferguson Enterprises | 43.96 Bn | 41.18 Bn | 2.32 Bn | 31.02% |
| 5 | Sunbelt Rentals Holdings | 31.43 Bn | 31.30 Bn | 1.25 Bn | 40.10% |
| 6 | Reliance | 21.33 Bn | 20.37 Bn | 1.30 Bn | 28.09% |
| 7 | Wesco International | 16.77 Bn | 14.08 Bn | 1.46 Bn | 21.85% |
| 8 | Applied Industrial Technologies | 12.38 Bn | 12.26 Bn | 411.22 Mn | 30.40% |
| 9 | Watsco | 11.45 Bn | 9.14 Bn | 578.93 Mn | 27.50% |
| 10 | Target Hospitality | 1.56 Bn | 1.51 Bn | 15.80 Mn | 18.49% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 18.49% |
| Mar 31, 2026 | 9.46% |
| Dec 31, 2025 | 7.88% |
| Sep 30, 2025 | 18.06% |
| Jun 30, 2025 | -0.53% |
| Mar 31, 2025 | 25.70% |
| Dec 31, 2024 | 44.25% |
| Sep 30, 2024 | 47.49% |
| Jun 30, 2024 | 46.53% |
| Mar 31, 2024 | 46.00% |
| Dec 31, 2023 | 49.31% |
| Sep 30, 2023 | 59.45% |
| Jun 30, 2023 | 57.35% |
| Mar 31, 2023 | 55.45% |
| Dec 31, 2022 | 55.04% |
| Sep 30, 2022 | 51.87% |
| Jun 30, 2022 | 47.92% |
| Mar 31, 2022 | 34.75% |
| Dec 31, 2021 | 35.76% |
| Sep 30, 2021 | 37.69% |
API Access
Target Hospitality Gross 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=gross-margin&ticker=TH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=TH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();