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Target Hospitality (Target Hospitality) Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Target Hospitality has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Target Hospitality's Piotroski F-Score or its related term are showing as below:

TH' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 7

During the past 7 years, the highest Piotroski F-Score of Target Hospitality was 8. The lowest was 3. And the median was 6.


Target Hospitality Piotroski F-Score Historical Data

The historical data trend for Target Hospitality's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Target Hospitality Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial 3.00 4.00 6.00 8.00 7.00

Target Hospitality Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 7.00 7.00 5.00 7.00

Competitive Comparison

For the Specialty Business Services subindustry, Target Hospitality's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Target Hospitality Piotroski F-Score Distribution

For the Business Services industry and Industrials sector, Target Hospitality's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Target Hospitality's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 43.825 + 46.453 + 45.579 + 37.843 = $173.7 Mil.
Cash Flow from Operations was 14.529 + 55.746 + 48.237 + 38.289 = $156.8 Mil.
Revenue was 147.819 + 143.63 + 145.939 + 126.22 = $563.6 Mil.
Gross Profit was 81.963 + 82.366 + 86.756 + 62.239 = $313.3 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(771.727 + 649.618 + 665.968 + 696.524 + 694.353) / 5 = $695.638 Mil.
Total Assets at the begining of this year (Dec22) was $771.7 Mil.
Long-Term Debt & Capital Lease Obligation was $187.5 Mil.
Total Current Assets was $180.5 Mil.
Total Current Liabilities was $70.3 Mil.
Net Income was 0.494 + 22.851 + 19.022 + 31.572 = $73.9 Mil.

Revenue was 80.335 + 109.647 + 159.565 + 152.438 = $502.0 Mil.
Gross Profit was 27.916 + 52.545 + 82.771 + 83.898 = $247.1 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(513.392 + 492.538 + 546.855 + 729.698 + 771.727) / 5 = $610.842 Mil.
Total Assets at the begining of last year (Dec21) was $513.4 Mil.
Long-Term Debt & Capital Lease Obligation was $341.0 Mil.
Total Current Assets was $236.4 Mil.
Total Current Liabilities was $190.9 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Target Hospitality's current Net Income (TTM) was 173.7. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Target Hospitality's current Cash Flow from Operations (TTM) was 156.8. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=173.7/771.727
=0.22507959

ROA (Last Year)=Net Income/Total Assets (Dec21)
=73.939/513.392
=0.14402055

Target Hospitality's return on assets of this year was 0.22507959. Target Hospitality's return on assets of last year was 0.14402055. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Target Hospitality's current Net Income (TTM) was 173.7. Target Hospitality's current Cash Flow from Operations (TTM) was 156.8. ==> 156.8 <= 173.7 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=187.543/695.638
=0.26959856

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=341.04/610.842
=0.55831131

Target Hospitality's gearing of this year was 0.26959856. Target Hospitality's gearing of last year was 0.55831131. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=180.5/70.33
=2.56647234

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=236.379/190.896
=1.23826062

Target Hospitality's current ratio of this year was 2.56647234. Target Hospitality's current ratio of last year was 1.23826062. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Target Hospitality's number of shares in issue this year was 104.381. Target Hospitality's number of shares in issue last year was 108.972. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=313.324/563.608
=0.55592539

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=247.13/501.985
=0.49230555

Target Hospitality's gross margin of this year was 0.55592539. Target Hospitality's gross margin of last year was 0.49230555. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=563.608/771.727
=0.73032044

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=501.985/513.392
=0.97778111

Target Hospitality's asset turnover of this year was 0.73032044. Target Hospitality's asset turnover of last year was 0.97778111. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+1+1+1+1+0
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Target Hospitality has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Target Hospitality  (NAS:TH) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Target Hospitality Piotroski F-Score Related Terms

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Target Hospitality (Target Hospitality) Business Description

Traded in Other Exchanges
N/A
Address
9320 Lakeside Boulevard, Suite 300, The Woodlands, Houston, TX, USA, 77381
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 primarily of specialty rental and vertically integrated hospitality services revenue from customers with Government contracts located in Texas.
Executives
Eric Kalamaras officer: EVP and CFO ATLAS PIPELINE PARTNERS, GP, 110 W. 7TH, SUITE 2300, TULSA OK 74119
Troy C. Schenk officer: Chief Commercial Officer C/O TARGET HOSPITALITY, 2170 BUCKTHORNE PLACE, SUITE 440, THE WOODLANDS TX 77380
Jason Paul Vlacich officer: Chief Accounting Officer C/O TARGET HOSPITALITY, 2170 BUCKTHORNE PLACE, SUITE 440, THE WOODLANDS TX 77380
Alejandro Hernandez director 12500 BALTIMORE AVENUE, BELTSVILLE MD 20750
James B. Archer director, officer: President and CEO C/O TARGET HOSPITALITY, 2170 BUCKTHORNE PLACE, SUITE 440, THE WOODLANDS TX 77380
Jeffrey Sagansky director 1450 2ND STREET, SUITE 247, SANTA MONICA CA 90401
Pamela H. Patenaude director 26642 TOWNE CENTRE DRIVE, C/O LOANDEPOT, INC., FOOTHILL RANCH CA 92610
Tdr Capital Ii Investments Lp 10 percent owner 20 BENTINCK STREET, LONDON X0 W1U 2EU
Manjit Dale 10 percent owner C/O TDR CAPITAL LLP, 20 BENTINCK STREET, LONDON X0 W1U 2EU
Capital Llp Tdr 10 percent owner 20 BENTINCK STREET, LONDON X0 W1U 2EU
Stephen Robertson director, 10 percent owner 20 BENTINCK STREET, LONDON X0 W1U 2EU
Arrow Holdings S.a.r.l. 10 percent owner 20 RUE EUGENE RUPPERT, LUXEMBOURG N4 L-2453
Modulaire Holding S.a.r.l. 10 percent owner 20 RUE EUGENE RUPPERT, LUXEMBOURG CITY N4 L-2453
Mfa Global S.a.r.l. 10 percent owner 20 RUE EUGENE RUPPERT, LUXEMBOURG CITY N4 L-2453
Mfa Limited Partnership Slp 10 percent owner 20 RUE EUGENE RUPPERT, LUXEMBOURG CITY N4 L-2453