Target Hospitality Valuation Multiples

Target Hospitality Overview

About Target Hospitality

Target Hospitality Corp is a vertically integrated specialty rental and hospitality services company in the United States. The company provides vertically integrated specialty rental and comprehensive hospitality services including catering food services, maintenance, housekeeping, grounds-keeping, on-site security, overall workforce lodge management, and laundry service. Its operating segment includes HFS-South and HFS-Midwest; Government; TCPL Keystone and others. It generates a majority of its revenue from the Government segment which consists of specialty rental and vertically integrated hospitality services revenue from customers with Government contracts located in Texas.

Founded

2019

HQ

Employees

770

Website

targethospitality.com

Sectors

Business ServicesClimateTech

Financials (LTM)

Revenue: $320M

EBITDA: $55M

EV

$754M

Valuation Multiples

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Target Hospitality Financials

Target Hospitality reported last 12-month revenue of $320M and EBITDA of $55M.

In the same LTM period, Target Hospitality generated $47M in gross profit, $55M in EBITDA, and had net loss of ($35M).

Target Hospitality P&L

In the most recent fiscal year, Target Hospitality reported revenue of $386M and EBITDA of $188M.

Target Hospitality expects next 12-month revenue of XXX and NTM EBITDA of XXX

Target Hospitality Stock Performance

Target Hospitality has current market cap of $771M, and enterprise value of $754M.

Target Hospitality's stock price is $7.73.

Target Hospitality Valuation Multiples

Target Hospitality trades at 2.4x EV/Revenue multiple, and 13.6x EV/EBITDA.

Target Hospitality Financial Valuation Multiples

As of March 15, 2026, Target Hospitality has market cap of $771M and EV of $754M.

Equity research analysts estimate Target Hospitality's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Target Hospitality has a P/E ratio of (22.3x).

Target Hospitality Margins & Growth Rates

Target Hospitality's revenue in the last 12 month grew by 4%.

Target Hospitality's revenue per employee in the last FY averaged $0.4M.

Target Hospitality's rule of 40 is 21% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Target Hospitality's rule of X is 27% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Target Hospitality Public Comps

See public comps and valuation multiples for other Business Services comps.

Target Hospitality M&A Activity

Target Hospitality acquired XXX companies to date.

Last acquisition by Target Hospitality was on XXXXXXXX, XXXXX. Target Hospitality acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Target Hospitality Investment Activity

Target Hospitality invested in XXX companies to date.

Target Hospitality made its latest investment on XXXXXXXX, XXXXX. Target Hospitality invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).