Target Hospitality (TH) Gross Margin (2018 - 2026)
Target Hospitality's (TH) quarterly Gross Margin came in at 18.49% in Q2 2026, up 1902.0% year-over-year from 0.92% in Q2 2025, and up 95.47% quarter-over-quarter from 9.46% in Q1 2026.
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Analysis
Target Hospitality (TH) Gross Margin (2018 - 2026) Analysis & Trends
Target Hospitality (TH) has reported Gross Margin for 9 consecutive years, with 18.49% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Gross Margin rose 1902.0% year-over-year to 18.49% in Q2 2026; TTM through Jun 2026 was 13.73%, a 680.0% decrease from a year earlier, with the FY2025 full-year figure at 13.3%, down 3282.0% from the prior year.
- Gross Margin was 18.49% for Q2 2026 at Target Hospitality, up from 9.46% in the prior quarter.
- Over five years, Gross Margin peaked at 59.45% in Q3 2023 and troughed at 0.53% in Q2 2025.
- A 5-year average of 36.45% and a median of 46.27% in 2024 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin soared 2070 bps in 2023 and sank 4707 bps in 2025, its largest moves.
- Over 5 years, Gross Margin stood at 55.04% in 2022, then dropped by 10 bps to 49.31% in 2023, then retreated by 10 bps to 44.25% in 2024, then sank by 82 bps to 7.88% in 2025, then jumped by 134 bps to 18.49% in 2026.
- The last three Gross Margin figures came in at 18.49% (Q2 2026), 9.46% (Q1 2026), and 7.88% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sunbelt Rentals Holdings | 30.16 Bn | 30.13 Bn | 1.25 Bn | 40.10% |
| 2 | Herc Holdings | 4.52 Bn | 4.48 Bn | 713.00 Mn | 59.22% |
| 3 | EquipmentShare.com | 3.88 Bn | 3.43 Bn | 411.00 Mn | 28.36% |
| 4 | WillScot Holdings | 3.29 Bn | 3.29 Bn | 306.26 Mn | 50.03% |
| 5 | Mcgrath Rentcorp | 2.71 Bn | 2.71 Bn | 107.91 Mn | 48.80% |
| 6 | Target Hospitality | 2.13 Bn | 2.12 Bn | 15.80 Mn | 18.49% |
| 7 | Custom Truck One Source | 2.12 Bn | 2.11 Bn | 123.97 Mn | 22.00% |
| 8 | NPK International | 1.08 Bn | 1.07 Bn | 30.16 Mn | 36.97% |
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 | 7.30% |
| 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();