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Target Hospitality Valuation Multiples

Discover revenue and EBITDA valuation multiples for Target Hospitality and similar public comparables like EnviroSuite, Cleanaway, and The Environmental Group.

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

United States of America
Employees

770

Financials

LTM Revenue $354M

LTM EBITDA $155M

EV

$673M

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Target Hospitality Financials

Target Hospitality has a last 12-month revenue of $354M and a last 12-month EBITDA of $155M.

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

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

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Target Hospitality P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $564M $386M XXX XXX XXX
Gross Profit $247M $313M XXX XXX XXX
Gross Margin 44% 81% XXX XXX XXX
EBITDA $333M $188M XXX XXX XXX
EBITDA Margin 59% 49% XXX XXX XXX
Net Profit $73.9M $174M XXX XXX XXX
Net Margin 13% 45% XXX XXX XXX
Net Debt $147M $74.2M XXX XXX XXX

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Target Hospitality Stock Performance

As of April 15, 2025, Target Hospitality's stock price is $7.

Target Hospitality has current market cap of $654M, and EV of $673M.

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Target Hospitality Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$673M $654M XXX XXX XXX XXX $0.43

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Target Hospitality Valuation Multiples

As of April 15, 2025, Target Hospitality has market cap of $654M and EV of $673M.

Target Hospitality's trades at 1.9x LTM EV/Revenue multiple, and 4.3x LTM EBITDA.

Analysts estimate Target Hospitality's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Target Hospitality Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $673M XXX XXX XXX
EV/Revenue 1.7x XXX XXX XXX
EV/EBITDA 3.6x XXX XXX XXX
P/E 9.2x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF 5.5x XXX XXX XXX

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Target Hospitality Valuation Multiples

Target Hospitality's NTM/LTM revenue growth is -21%

Target Hospitality's revenue per employee for the last fiscal year averaged $0.5M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Target Hospitality's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Target Hospitality's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Target Hospitality Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -31% XXX XXX XXX XXX
EBITDA Margin 49% XXX XXX XXX XXX
EBITDA Growth -44% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 28% XXX XXX XXX XXX
Revenue per Employee $0.5M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 18% XXX XXX XXX XXX

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Target Hospitality Public Comps

See public comps and valuation multiples for Environmental & Facilities Services comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Arcadis XXX XXX XXX XXX XXX XXX
Envipco XXX XXX XXX XXX XXX XXX
Cleanaway XXX XXX XXX XXX XXX XXX
The Environmental Group XXX XXX XXX XXX XXX XXX
EnviroSuite XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Target Hospitality M&A and Investment Activity

Target Hospitality acquired  XXX companies to date.

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

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Latest Acquisitions by Target Hospitality

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Target Hospitality

When was Target Hospitality founded? Target Hospitality was founded in 2019.
Where is Target Hospitality headquartered? Target Hospitality is headquartered in United States of America.
How many employees does Target Hospitality have? As of today, Target Hospitality has 770 employees.
Who is the CEO of Target Hospitality? Target Hospitality's CEO is Mr. James B. Archer.
Is Target Hospitality publicy listed? Yes, Target Hospitality is a public company listed on NAS.
What is the stock symbol of Target Hospitality? Target Hospitality trades under TH ticker.
When did Target Hospitality go public? Target Hospitality went public in 2018.
Who are competitors of Target Hospitality? Similar companies to Target Hospitality include e.g. Arcadis, Envipco, Cleanaway, The Environmental Group.
What is the current market cap of Target Hospitality? Target Hospitality's current market cap is $654M
What is the current revenue of Target Hospitality? Target Hospitality's last 12-month revenue is $354M.
What is the current EBITDA of Target Hospitality? Target Hospitality's last 12-month EBITDA is $155M.
What is the current EV/Revenue multiple of Target Hospitality? Current revenue multiple of Target Hospitality is 1.9x.
What is the current EV/EBITDA multiple of Target Hospitality? Current EBITDA multiple of Target Hospitality is 4.3x.
What is the current revenue growth of Target Hospitality? Target Hospitality revenue growth between 2023 and 2024 was -31%.
Is Target Hospitality profitable? Yes, Target Hospitality is EBITDA-positive (as of the last 12 months).

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