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Civeo vs Target Hospitality: CVEO and TH compared
Civeo is the larger company: $193M of revenue in its latest quarter (Q3 2026) against $85.5M for Target Hospitality (Q2 2026). Target Hospitality is growing faster (+39% against +13% a year earlier). Civeo is more profitable, with an operating margin of 6.9% against -8.8%.
Where the money goes: CVEO and TH
Civeo (CVEO) · Q3 2026
Civeo, Q3 2026: revenue $193M (+13% year over year), operating margin 6.9%, net earnings $5.2M, operating cash flow $26.4M. The chart follows the revenue to costs, profit and cash.
Target Hospitality (TH) · Q2 2026
Target Hospitality, Q2 2026: revenue $85.5M (+39% year over year), operating margin -8.8%, net loss $9.0M, operating cash flow $104M. The chart follows the revenue to costs, profit and cash.
| Civeo (CVEO) | Target Hospitality (TH) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $193M | $85.5M |
| Revenue growth, Y/Y | +13% | +39% |
| Gross margin | 24.0% | — |
| Operating margin | 6.9% | -8.8% |
| Net earnings | $5.2M | −$9.0M |
| Net margin | 2.7% | -10.5% |
| Operating cash flow | $26.4M | $104M |
| Free cash flow | $21.0M | $96.2M |
Where the revenue comes from
Civeo
- Australia: $130M (67%)
- Canada: $63.6M (33%)
Target Hospitality
- HFS - South: $31.5M (37%)
- Other revenues: $30.8M (36%)
- WHS: $15.7M (18%)
- Government: $4.5M (5%)
Questions
Which is bigger, Civeo or Target Hospitality?
Civeo is the larger company: $193M of revenue in its latest quarter (Q3 2026) against $85.5M for Target Hospitality (Q2 2026).
Is Civeo or Target Hospitality growing faster?
Target Hospitality is growing faster (+39% against +13% a year earlier).
Which is more profitable, Civeo or Target Hospitality?
Civeo is more profitable, with an operating margin of 6.9% against -8.8%.
More: Civeo earnings · how Civeo makes money · Target Hospitality earnings · how Target Hospitality makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 30, 2026; 10-Q filed Aug 10, 2026). Fiscal quarters can end on different dates. Not investment advice.