Target Hospitality (TH) Operating Margin (2018 - 2026)
Target Hospitality's Operating Margin came in at -8.77% for Q2 2026, up 18.69 percentage points from -27.46% a year earlier and up 10.91 percentage points from the prior quarter.
Powered by 
Analysis
Target Hospitality (TH) Operating Margin (2018 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Target Hospitality reported Operating Margin of -11.10%, down 21.03 percentage points year-over-year; for FY2025, it was -10.84%, down 39.00 percentage points from FY2024.
- Operating Margin carries a five-year change of -12.66 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was 28.16% in FY2024 (-14.53 pp), 42.69% in FY2023 (+7.95 pp), 34.74% in FY2022 (+22.00 pp) and 12.73% in FY2021 (+10.91 pp).
- The five-year range for quarterly Operating Margin is -27.46% (Q2 2025) to 46.40% (Q3 2023).
- Year-over-year, Operating Margin increased in 1 of the last eight quarters, with an average year-over-year change of -23.50 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in Q1 2023 (a gain of 26.50 percentage points), and the weakest in Q2 2025 (a drop of 56.80 percentage points).
- Business Quant data shows TH's Operating Margin at -19.68% (Q1 2026), -18.74% (Q4 2025) and 0.07% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Rentals | 65.40 Bn | 64.16 Bn | 1.73 Bn | 25.80% |
| 2 | W.W. Grainger | 63.07 Bn | 60.67 Bn | 1.98 Bn | 16.07% |
| 3 | Fastenal | 59.20 Bn | 58.13 Bn | 1.06 Bn | 21.02% |
| 4 | Ferguson Enterprises | 44.13 Bn | 41.34 Bn | 2.32 Bn | 8.19% |
| 5 | Sunbelt Rentals Holdings | 31.58 Bn | 31.46 Bn | 1.25 Bn | 22.18% |
| 6 | Reliance | 21.32 Bn | 20.36 Bn | 1.30 Bn | 9.54% |
| 7 | Wesco International | 16.71 Bn | 14.03 Bn | 1.46 Bn | 5.73% |
| 8 | Applied Industrial Technologies | 12.36 Bn | 12.23 Bn | 411.22 Mn | 11.78% |
| 9 | Watsco | 11.52 Bn | 9.20 Bn | 578.93 Mn | 11.32% |
| 10 | Target Hospitality | 1.55 Bn | 1.50 Bn | 15.80 Mn | -8.77% |
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 | -1.54% |
| 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();