Target Hospitality (TH) Gross Margin (2018 - 2026)
Target Hospitality (TH) posted quarterly Gross Margin of 12.25% for Q1 2026, up 494.0% year-over-year from 2.06% in Q1 2025, and down 23.97% quarter-over-quarter from 16.11% in Q4 2025.
Target Hospitality (TH) Gross Margin (2018 - 2026) Analysis & Trends
Target Hospitality (TH) has reported Gross Margin for 9 consecutive years, with 12.25% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin rose 494.0% year-over-year to 12.25%; the TTM figure through Mar 2026 stood at 12.8% (down 2066.0% YoY), while the FY2025 annual figure was 15.52%, down 5148.0% from the prior year.
- Gross Margin retreated to 12.25% in Q1 2026 per TH's latest filing, from 16.11% in the prior quarter.
- Across five years, Gross Margin topped out at 92.79% in Q3 2023 and bottomed at 0.6% in Q2 2025.
- Historically, Gross Margin has averaged 48.89% across 5 years, with a median of 57.35% in 2023.
- Annual changes were most pronounced in 2023 — Gross Margin soared 4191 bps — and 2025, when it tumbled 7003 bps.
- Target Hospitality's Gross Margin stood at 31.54% in 2022, then surged by 133 bps to 73.46% in 2023, then fell by 16 bps to 61.49% in 2024, then tumbled by 74 bps to 16.11% in 2025, then dropped by 24 bps to 12.25% in 2026.
- Business Quant data shows TH's Gross Margin at 12.25% in Q1 2026, 16.11% in Q4 2025, and 19.59% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cintas | 81.69 Bn | 81.40 Bn | 1.48 Bn | 50.95% |
| 2 | Relx | 64.97 Bn | 64.80 Bn | - | - |
| 3 | Copart | 32.09 Bn | 28.74 Bn | 732.88 Mn | 59.24% |
| 4 | Global Payments | 24.80 Bn | 19.40 Bn | 2.03 Bn | 61.04% |
| 5 | Rb Global | 16.24 Bn | 15.72 Bn | 935.50 Mn | 71.03% |
| 6 | Aramark | 15.68 Bn | 15.18 Bn | 430.34 Mn | 8.51% |
| 7 | UL Solutions | 15.20 Bn | 14.77 Bn | 417.00 Mn | 51.10% |
| 8 | Rentokil Initial | 11.80 Bn | 9.27 Bn | - | - |
| 9 | Dolby Laboratories | 6.05 Bn | 5.38 Bn | 264.68 Mn | 86.78% |
| 10 | Target Hospitality | 1.76 Bn | 1.76 Bn | 15.80 Mn | 18.49% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 18.49% |
| Mar 31, 2026 | 12.25% |
| Dec 31, 2025 | 16.11% |
| Sep 30, 2025 | 19.59% |
| Jun 30, 2025 | -0.60% |
| Mar 31, 2025 | 7.30% |
| Dec 31, 2024 | 61.49% |
| Sep 30, 2024 | 68.71% |
| Jun 30, 2024 | 69.44% |
| Mar 31, 2024 | 67.78% |
| Dec 31, 2023 | 73.46% |
| Sep 30, 2023 | 92.79% |
| Jun 30, 2023 | 57.35% |
| Mar 31, 2023 | 55.45% |
| Dec 31, 2022 | 31.54% |
| Sep 30, 2022 | 80.36% |
| Jun 30, 2022 | 70.63% |
| Mar 31, 2022 | 47.58% |
| Dec 31, 2021 | 49.26% |
| Sep 30, 2021 | 50.09% |