Target Hospitality (TH) Operating Margin (2018 - 2026)
Target Hospitality's (TH) quarterly Operating Margin came in at 8.77% in Q2 2026, up 1869.0% year-over-year from 0.45% in Q2 2025, and up 55.43% quarter-over-quarter from 19.68% in Q1 2026.
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Analysis
Target Hospitality (TH) Operating Margin (2018 - 2026) Analysis & Trends
Target Hospitality (TH) has reported Operating Margin for 9 consecutive years, with 8.77% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Margin rose 1869.0% year-over-year to 8.77% in Q2 2026; TTM through Jun 2026 was 11.1%, a 1744.0% decrease from a year earlier, with the FY2025 full-year figure at 10.84%, down 3900.0% from the prior year.
- Operating Margin was 8.77% for Q2 2026 at Target Hospitality, up from 19.68% in the prior quarter.
- Over five years, Operating Margin peaked at 46.4% in Q3 2023 and troughed at 27.46% in Q2 2025.
- A 5-year average of 18.71% and a median of 28.94% in 2024 frame the typical range for Operating Margin.
- Across the five-year window, Operating Margin soared 2650 bps in 2023 and slumped 5680 bps in 2025, its largest moves.
- Over 5 years, Operating Margin stood at 42.12% in 2022, then slipped by 13 bps to 36.58% in 2023, then tumbled by 32 bps to 24.86% in 2024, then tumbled by 175 bps to 18.74% in 2025, then surged by 53 bps to 8.77% in 2026.
- The last three Operating Margin figures came in at 8.77% (Q2 2026), 19.68% (Q1 2026), and 18.74% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sunbelt Rentals Holdings | 30.16 Bn | 30.13 Bn | 1.25 Bn | 22.18% |
| 2 | Herc Holdings | 4.52 Bn | 4.48 Bn | 713.00 Mn | 46.10% |
| 3 | EquipmentShare.com | 3.88 Bn | 3.43 Bn | 411.00 Mn | 6.49% |
| 4 | WillScot Holdings | 3.29 Bn | 3.29 Bn | 306.26 Mn | 19.19% |
| 5 | Mcgrath Rentcorp | 2.71 Bn | 2.71 Bn | 107.91 Mn | 24.10% |
| 6 | Target Hospitality | 2.13 Bn | 2.12 Bn | 15.80 Mn | -8.77% |
| 7 | Custom Truck One Source | 2.12 Bn | 2.11 Bn | 123.97 Mn | 8.27% |
| 8 | NPK International | 1.08 Bn | 1.07 Bn | 30.16 Mn | 19.72% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -8.77% |
| Mar 31, 2026 | -19.68% |
| Dec 31, 2025 | -18.74% |
| Sep 30, 2025 | 0.07% |
| Jun 30, 2025 | -27.46% |
| Mar 31, 2025 | -0.44% |
| Dec 31, 2024 | 24.86% |
| Sep 30, 2024 | 29.41% |
| Jun 30, 2024 | 29.34% |
| Mar 31, 2024 | 28.53% |
| Dec 31, 2023 | 36.58% |
| Sep 30, 2023 | 46.40% |
| Jun 30, 2023 | 45.09% |
| Mar 31, 2023 | 41.91% |
| Dec 31, 2022 | 42.12% |
| Sep 30, 2022 | 37.57% |
| Jun 30, 2022 | 34.50% |
| Mar 31, 2022 | 15.41% |
| Dec 31, 2021 | 16.74% |
| Sep 30, 2021 | 18.71% |
API Access
Target Hospitality Operating 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=operating-margin&ticker=TH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=TH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();