Target Hospitality Corp.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-37.1M | $71.3M | $173.7M | $73.9M | $-4.6M | $-25.1M | $12.0M | $5.0M |
| Depreciation & Amortization | $73.4M | $72.8M | $84.0M | $67.7M | $70.5M | $65.6M | $58.9M | $39.1M |
| Depreciation | $59.9M | $59.3M | $70.5M | $54.4M | $55.9M | $50.9M | $44.6M | $32.0M |
| Amortization | $13.5M | $13.5M | $13.4M | $13.3M | $14.6M | $14.7M | $14.3M | $7.2M |
| Stock-Based Compensation | $7.6M | $7.3M | $11.2M | $19.2M | $5.1M | $3.6M | $1.7M | — |
| Net Cash from Operating Activities | $74.1M | $151.7M | $156.8M | $305.6M | $104.6M | $46.8M | $60.5M | $26.2M |
| Investing Activities | ||||||||
| Capital Expenditures | $751.0K | $687.0K | $3.1M | $20.6M | $427.0K | $381.0K | $441.0K | $951.0K |
| Business Acquisitions | — | — | — | — | — | — | $30.0M | $200.1M |
| Net Cash from Investing Activities | $-67.8M | $-28.8M | $-68.2M | $-140.2M | $-35.9M | $-10.9M | $-112.7M | $-220.7M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | $33.5M | — | — | — | $5.3M | $18.2M | — |
| Net Cash from Financing Activities | $-188.6M | $-36.1M | $-166.4M | $-7.1M | $-52.3M | $-35.7M | $46.7M | $194.6M |
| Net Change in Cash | $-182.3M | $86.7M | $-77.7M | $158.3M | $16.4M | $140.0K | $-5.6M | $498.1K |
| Free Cash Flow | $73.3M | $151.0M | $153.7M | $285.1M | $104.2M | $46.4M | $60.1M | $25.3M |