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Target Hospitality Corp. balance sheet

At the end of fiscal 2025, Target Hospitality Corp. had total assets of $530m, total liabilities of $141m and shareholders' equity of $389m. It held $8.3m in cash against $3.8m of debt.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents1312772318210419186
Receivables—574828294267495650
Inventory—11122222—
Total current assets0756144612361812497364
Goodwill—344141414141414141
Total assets0565534534513772694726530654
Accounts payable—22811121821164447
Deferred revenue (current)—181772712021921
Total current liabilities065614673191702338499
Short-term debt———————180——
Long-term debt—214223923413301781242
Total debt023422392341335181184445
Total liabilities0216480435416571317305141284
Shareholders' equity253491219997201377421389370
Non-controlling interests and other (assets − liabilities − equity)−25—−67———————
Shares outstanding——101m101m102m100m102m99m100m100m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Target Hospitality Corp.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Target Hospitality Corp.