Target Hospitality Corp. (TH) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 7.04M | 5.74M | 53.36M | 11.06M | 3.94M | 30.55M | 31.43M | 39.1M | 50.59M | 38.29M | 48.24M | 54.32M | 14.53M | 47.79M | 261.19M | 27.21M | -30.58M | 5.15M | 40.01M | 67.44M |
| Operating CF Margin % | 9.67% | 6.39% | 53.7% | 17.96% | 5.64% | 36.51% | 33.01% | 38.83% | 47.43% | 30.34% | 33.05% | 37.82% | 9.83% | 31.35% | 163.69% | 24.82% | -38.07% | 6.31% | 44.87% | 89.94% |
| Operating CF Growth % | 78.73% | -81.23% | 69.78% | -71.71% | -92.21% | -20.21% | -34.85% | -28.01% | 248.21% | -19.88% | -81.53% | 99.62% | 147.51% | 827.58% | 552.88% | -59.65% | -282.3% | -71.68% | 1137.43% | 355.43% |
| Net Income | -12.96M | -14.94M | -795K | -14.92M | -6.46M | 12.54M | 19.99M | 18.39M | 20.38M | 37.84M | 45.58M | 46.45M | 43.83M | 31.57M | 19.02M | 22.85M | 494K | 2.8M | 6.68M | -914K |
| Depreciation & Amortization | 19.6M | 19.61M | 18.65M | 17.67M | 17.64M | 17.5M | 17.96M | 19.04M | 18.67M | 19.25M | 26.24M | 26.93M | 21.44M | 31.13M | 16.83M | 15.45M | 16.8M | 17.78M | 18.3M | 18M |
| Stock-Based Compensation | 0 | 5.52M | 1.93M | 2.09M | 1.72M | 0 | 1.6M | 1.33M | 2.75M | -2.77M | 0 | 0 | 0 | 0 | 8.4M | 1.89M | 3.34M | 1.48M | 1.36M | 1.48M |
| Deferred Taxes | 0 | -6.37M | 0 | -3.31M | -1.53M | 0 | -1.41M | 1.97M | -874K | 4.67M | 13.51M | 11.83M | 7.89M | 14.96M | 0 | 5.63M | 725K | 1.27M | 1.32M | -392K |
| Other Non-Cash Items | 1.87M | 2.79M | 22.64M | 2.65M | 5.2M | 1.29M | 3.74M | 3.02M | 2.9M | -1.93M | 7.88M | 2.13M | 10.06M | 18.1M | 183M | 669K | 2.49M | 1.03M | 907K | 3.8M |
| Working Capital Changes | -1.47M | -872K | 10.93M | 6.88M | -12.63M | -786K | -10.45M | -4.65M | 6.77M | -18.77M | -44.97M | -33.02M | -68.69M | -47.97M | 33.94M | -19.27M | -54.42M | -19.21M | 11.44M | 45.46M |
| Change in Receivables | 10.51M | -13.44M | 14.13M | -570K | -7.63M | 0 | 0 | 5.54M | 13.25M | -8.12M | -6.13M | -542K | -11.01M | -509K | 36.53M | -36.93M | -12.78M | 4.37M | -4.19M | 572K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -39.35M | -26.62M | -16.26M | -7.71M | -17.2M | -5.42M | -7.28M | -7.22M | -8.92M | -7.27M | -12.12M | -20.35M | -28.45M | -36.57M | -72.89M | -27.93M | -2.83M | -11.91M | -9.8M | -11.01M |
| Capital Expenditures | -176K | -17.86M | -16.26M | 16.55M | -17.2M | -6.28M | -7.78M | -7.22M | -8.96M | -7.27M | -12.19M | -20.39M | -28.56M | -36.57M | -72.89M | -28.42M | -2.96M | -11.91M | -9.8M | -11.01M |
| CapEx % of Revenue | 0.24% | 19.89% | 16.37% | 26.87% | 24.61% | 7.51% | 8.18% | 7.17% | 8.4% | 5.76% | 8.36% | 14.2% | 19.32% | 23.99% | 45.68% | 25.92% | 3.68% | 14.58% | 10.99% | 14.68% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 76K | 46K | 119K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -39.18M | -8.76M | 0 | -24.26M | 0 | 861K | 499K | 0 | 42K | 0 | 0 | 0 | 0 | 0 | 0 | 490K | 125K | 0 | 0 | 0 |
| Cash from Financing | 29.43M | -1.16M | -25.94M | -18.61M | -142.94M | -12.19M | -692K | -1.89M | -21.3M | -32.19M | -592K | -6.84M | -125.33M | -6.54M | -20.99M | 4.59M | 15.83M | -479K | -6.02M | -56.36M |
| Debt Issued (Net) | 29.49M | -537K | -24.62M | -17.57M | -141.06M | -472K | -399K | -417K | -407K | -28.42M | -336K | -345K | -125.36M | -6.84M | 15.86M | 4.67M | 15.83M | -479K | -6M | -56.33M |
| Equity Issued (Net) | 0 | 0 | -1.26M | -973K | 0 | -11.6M | -757K | 23K | -21.16M | 0 | 144K | -1.34M | 1.29M | 305K | -44K | 0 | 0 | 0 | -14K | -34K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | -1.26M | -973K | 0 | -11.6M | -757K | 23K | -21.16M | 0 | 0 | 0 | 0 | 0 | -44K | 0 | 0 | 0 | -14K | -34K |
| Other Financing | -57K | -619K | -56K | -58K | -1.88M | -111K | 464K | -1.5M | 271K | -3.77M | -400K | -5.16M | -1.26M | 0 | -36.8M | -77K | 0 | 0 | 0 | 0 |
| Net Change in Cash | -2.89M | -22.04M | 11.15M | -15.23M | -156.2M | 12.92M | 23.45M | 29.99M | 20.37M | -1.18M | 35.53M | 27.14M | -139.24M | 4.69M | 167.29M | 3.87M | -17.58M | -7.24M | 24.17M | 94K |
| Free Cash Flow | 6.86M | -12.12M | 37.1M | 27.62M | -13.27M | 30.19M | 23.64M | 31.89M | 41.63M | 31.02M | 36.04M | 33.93M | -9.49M | 11.22M | 188.3M | -1.21M | -33.54M | -6.75M | 30.21M | 56.43M |
| FCF Margin % | 9.43% | -13.5% | 37.34% | 44.83% | -18.98% | 36.07% | 24.84% | 31.66% | 39.03% | 24.57% | 24.7% | 23.62% | -6.42% | 7.36% | 118.01% | -1.1% | -41.75% | -8.27% | 33.88% | 75.26% |
| FCF Growth % | 151.74% | -140.15% | 56.89% | -13.39% | -131.87% | -2.67% | -34.4% | -6.03% | 538.78% | 176.5% | -80.86% | 2913.52% | 71.71% | 266.07% | 523.31% | -102.14% | -199.44% | -138.79% | 688.75% | 327.77% |
| FCF per Share | 0.07 | -0.12 | 0.37 | 0.28 | -0.13 | 0.30 | 0.23 | 0.31 | 0.41 | 0.30 | 0.34 | 0.32 | -0.09 | 0.11 | 1.94 | -0.01 | -0.35 | -0.07 | 0.31 | 0.58 |
| FCF Conversion (FCF/Net Income) | -0.54x | -0.38x | -67.11x | -0.74x | -0.61x | 2.44x | 1.57x | 2.13x | 2.48x | 1.01x | 1.06x | 1.17x | 0.33x | 1.51x | 13.73x | 1.19x | -61.90x | 1.84x | 5.99x | -73.95x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |