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Company research / TRGP

Targa Resources Corp. (TRGP)

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CIK 0001389170 · NYSE · Natural Gas Transmission

  • Sector Transportation & Utilities
  • Fiscal year ends Dec 31

For the year ended 2025-12-31, Targa Resources Corp. reported revenue of $17.03B. Revenue grew 3.9% from the prior annual period. Over the twelve months to 2026-06-30, revenue was $16.74B.

Key ratios (year ended 2025-12-31)

38.3%
Gross margin (computed)
19.6%
Operating margin
11.3%
Net margin
60.1%
Return on year-end equity
3.9%
Revenue growth (YoY)

Computed by TickerFacts from revenue minus cost of revenue. This may differ from the issuer's reported gross profit or margin; check the revenue and cost definitions.

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Latest selected filing: Form 4 (ownership change) · 2026-09-08

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-06-30 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Period endedTTM to
2026-06-30		2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Revenue$16.74B$17.03B$16.38B$16.06B$20.93B$16.95B$8.26B$8.67B$10.48B$8.81B$5.59B
Cost of Revenue$9.51B$10.51B$10.70B$10.68B$16.88B$13.73B$5.19B$6.21B$8.24B$6.91B$4.92B
Gross Profit (computed)$7.23B$6.52B$5.68B$5.38B$4.05B$3.22B$3.07B$2.46B$2.25B$1.91B$663.80M
Operating Income$3.84B$3.33B$2.70B$2.63B$1.73B$864.80M-$1.30B$192.90M$237.50M-$122.40M$55.80M
Depreciation & Amortization$1.65B$1.52B$1.42B$1.33B$1.10B$870.60M$865.10M$971.60M$815.90M$809.50M$757.70M
EBITDA$5.49B$4.85B$4.12B$3.96B$2.83B$1.74B-$438.60M$1.16B$1.05B$687.10M$813.50M
Net Income$2.27B$1.92B$1.31B$1.35B$1.20B$71.20M-$1.55B-$209.20M$1.60M$54.00M-$187.30M
EPS (Diluted)n/a$8.49$5.74$3.66$3.88-$0.07-$7.26-$1.44-$0.53-$0.31-$1.80
Total Assets$28.52B$25.22B$22.73B$20.67B$19.56B$15.21B$15.88B$18.82B$16.94B$14.39B$12.87B
Long-Term Debt$19.58B$17.43B$14.17B$12.95B$11.54B$6.60B$7.76B$7.82B$6.66B$5.05B$4.88B
Shareholders' Equity$3.80B$3.20B$4.42B$4.61B$4.98B$5.18B$5.90B$8.44B$7.47B$6.76B$5.72B
Cash & Equivalents$132.30M$166.10M$157.30M$141.70M$219.00M$158.50M$242.80M$331.10M$232.10M$137.20M$73.50M
Operating Cash Flow$4.29B$3.92B$3.65B$3.21B$2.38B$2.30B$1.74B$1.39B$1.14B$939.50M$837.40M
Capital Expenditures$3.54B$3.33B$2.97B$2.39B$1.33B$505.10M$951.60M$2.88B$3.11B$1.30B$562.10M
Free Cash Flow$740.90M$584.10M$683.90M$826.20M$1.05B$1.80B$792.90M-$1.49B-$1.97B-$358.00M$275.30M
Shares Outstanding214.42M214.66M217.76M222.61M226.04M228.22M228.06M232.84M231.79M217.57M184.72M
Dividends Per Sharen/a$3.75$2.75$1.85$1.40$0.40$1.21$3.64$3.64$3.64$3.64
Weighted Average Diluted Sharesn/a216.90M221.30M226.00M231.10M228.60M232.20M232.50M224.20M206.90M154.40M
EPS (Basic)n/a$8.52$5.77$3.69$3.95-$0.07-$7.26-$1.44-$0.53-$0.31-$1.80

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