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TH

TARGET HOSPITALITY CORP.
CIK 0001712189 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
36.0
composite ยท 3 signals ยท ELEVATED

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-01 ยท FY 2025-12-31 ยท ELEVATED44.7

Earnings quality

Beneish M-Score -1.94 in the elevated zone
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-11) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -1.936,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 1.372,
    "GMI": 1,
    "AQI": 4.02,
    "SGI": 0.83,
    "DEPI": 1,
    "SGAI": 1.299,
    "LVGI": 0.493,
    "TATA": -0.21
  },
  "defaulted_to_neutral": [
    "GMI",
    "DEPI"
  ],
  "sloan_accruals": -0.1771,
  "inputs": {
    "revenue_t": 320635000,
    "revenue_t1": 386272000,
    "total_assets_t": 530205000,
    "net_income_t": -37121000,
    "cfo_t": 74092000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1712189/000110465926026351/0001104659-26-026351-index.htm",
    "form": "10-K",
    "filed": "2026-03-11"
  }
}
P-05 ยท FY 2024-12-31 ยท CLEAN0.0

Tax arbitrage

ETR 23.1% โ€” within normal range of statutory
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-11) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2024-12-31": 0.2308,
    "2023-12-31": 0.2271
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2024-12-31": -0.0208,
    "2023-12-31": -0.0171
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1712189/000110465926026351/0001104659-26-026351-index.htm",
    "form": "10-K",
    "filed": "2026-03-11"
  }
}
P-12 ยท FY 2025-12-31 ยท CLEAN23.8

Restatement predictor

F-Score 0.71 โ€” at or below the population base rate
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-11) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 0.715,
  "probability": 0.00264,
  "components": {
    "rsst": -0.1771,
    "drec": 0.0109,
    "dinv": 0.0003,
    "soft": 0.9843,
    "dcs": -0.1877,
    "droa": -0.1682,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1712189/000110465926026351/0001104659-26-026351-index.htm",
    "form": "10-K",
    "filed": "2026-03-11"
  }
}