TRGP

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Targa Resources, Inc.

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Key Metrics

Previous Close: $297.09
52-Week Range: $144.14 – $306.73
Market Cap: $64.81B
P/E (TTM): 28.41
EPS (TTM): 10.64
Dividend Yield: 1.68%

Advanced Metrics

Price/Book: 20.69
PEG Ratio: 1.25
Return on Equity: 70.84%
Return on Assets: 9.24%
Gross Margin: 43.19%
Operating Margin: 27.80%
Profit Margin: 13.54%
Current Ratio: 0.77
Debt/Equity: 5.16
Total Debt: $19.58B
Free Cash Flow: $65.84M
Revenue Growth: 4.20%
Earnings Growth: 23.30%
Enterprise Value: $84.40B

TRGP Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$20.93B	$16.06B	$16.38B	$17.03B
Cost of Revenue	$17.98B	$12.01B	$12.13B	$12.02B
Gross Profit	$2.95B	$4.05B	$4.26B	$5.01B
Selling, General & Admin	$309.70M	$348.70M	$384.90M	$406.00M
Operating Expenses	$1.22B	$1.43B	$1.56B	$1.67B
Operating Income	$1.73B	$2.63B	$2.70B	$3.33B
EBITDA	$3.21B	$3.96B	$4.13B	$4.85B
Pretax Income	$1.66B	$1.94B	$1.94B	$2.49B
Income Tax	$131.80M	$363.20M	$384.50M	$529.70M
Net Income	$1.20B	$1.35B	$1.31B	$1.92B
Diluted EPS	3.88	3.66	5.87	8.63
Diluted Shares	231.10M	226.00M	217.76M	214.66M

TRGP Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$219.00M	$141.70M	$157.30M	$166.10M
Receivables	$1.41B	$1.47B	$1.62B	$1.47B
Inventory	$393.80M	$371.50M	$334.30M	$429.30M
Current Assets	$2.36B	$2.19B	$2.30B	$2.36B
Total Assets	$19.56B	$20.67B	$22.73B	$25.22B
Current Liabilities	$3.07B	$2.76B	$3.17B	$3.55B
Long-Term Debt	$10.51B	$12.09B	$13.55B	$16.40B
Total Debt	$11.56B	$13.01B	$14.27B	$17.52B
Total Liabilities	$14.58B	$16.06B	$18.32B	$22.02B
Retained Earnings	-$626.80M	$492.00M	$1.19B	$2.29B
Shareholders' Equity	$2.67B	$2.74B	$2.59B	$3.07B
Working Capital	-$710.10M	-$566.30M	-$876.30M	-$1.18B
Net Debt	$11.09B	$12.52B	$13.72B	$16.91B

TRGP Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$2.38B	$3.21B	$3.65B	$3.92B
Capital Expenditure	-$1.33B	-$2.39B	-$2.97B	-$3.33B
Free Cash Flow	$1.05B	$826.20M	$683.90M	$584.10M
Depreciation & Amortisation	$1.10B	$1.33B	$1.42B	$1.52B
Stock-Based Compensation	$57.50M	$62.40M	$63.20M	$69.50M
Investing Cash Flow	-$4.15B	-$2.40B	-$3.02B	-$3.64B
Financing Cash Flow	$1.83B	-$888.10M	-$612.80M	-$266.60M
Dividends Paid	-$379.70M	-$427.30M	-$615.50M	-$818.30M
Share Repurchases	-$1.19B	-$373.70M	-$754.70M	-$641.80M
Net Change in Cash	$60.50M	-$77.30M	$15.60M	$8.80M

TRGP Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$4.56B	$4.26B	$4.15B	$4.06B	$4.09B
Cost of Revenue	$3.63B	$2.81B	$2.89B	$2.70B	$2.82B
Gross Profit	$936.10M	$1.45B	$1.26B	$1.36B	$1.27B
Selling, General & Admin	$94.50M	$95.00M	$104.80M	$111.70M	$107.80M
Operating Expenses	$392.80M	$416.80M	$424.40M	$440.00M	$427.30M
Operating Income	$543.30M	$1.03B	$836.90M	$917.40M	$846.90M
EBITDA	$910.90M	$1.41B	$1.23B	$1.30B	$1.27B
Pretax Income	$352.00M	$821.30M	$620.90M	$692.20M	$611.30M
Income Tax	$72.20M	$184.10M	$134.30M	$139.10M	$123.90M
Net Income	$270.50M	$629.10M	$478.40M	$545.00M	$479.60M
Diluted EPS	0.92	2.92	2.20	2.54	2.23
Diluted Shares	217.46M	215.51M	216.00M	214.66M	214.73M

TRGP Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$151.40M	$113.10M	$124.10M	$166.10M	$100.10M
Receivables	$1.40B	$1.41B	$1.41B	$1.47B	$1.69B
Inventory	$256.20M	$443.50M	$490.70M	$429.30M	$334.40M
Current Assets	$2.08B	$2.21B	$2.28B	$2.36B	$2.44B
Total Assets	$22.80B	$23.51B	$24.17B	$25.22B	$27.11B
Current Liabilities	$3.20B	$3.18B	$2.95B	$3.55B	$3.40B
Long-Term Debt	$15.31B	$15.84B	$16.47B	$16.40B	$18.19B
Total Debt	$16.21B	$16.85B	$17.43B	$17.52B	$19.13B
Total Liabilities	$20.23B	$20.80B	$21.34B	$22.02B	$23.84B
Retained Earnings	$1.30B	$1.71B	$1.97B	$2.29B	$2.56B
Shareholders' Equity	$2.45B	$2.59B	$2.71B	$3.07B	$3.14B
Working Capital	-$1.12B	-$969.50M	-$667.60M	-$1.18B	-$957.70M
Net Debt	$15.76B	$16.43B	$16.95B	$16.91B	$18.69B

TRGP Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$954.40M	$858.30M	$599.20M	$1.51B	$739.50M
Capital Expenditure	-$792.20M	-$906.10M	-$671.80M	-$963.20M	-$899.50M
Free Cash Flow	$162.20M	-$47.80M	-$72.60M	$542.30M	-$160.00M
Depreciation & Amortisation	$367.60M	$373.70M	$383.50M	$390.50M	$426.00M
Stock-Based Compensation	$17.60M	$17.10M	$17.50M	$17.30M	$23.20M
Investing Cash Flow	-$813.30M	-$956.80M	-$691.10M	-$1.18B	-$2.16B
Financing Cash Flow	-$147.00M	$60.20M	$102.90M	-$282.70M	$1.36B
Dividends Paid	-$167.20M	-$218.40M	-$216.90M	-$215.80M	-$218.90M
Share Repurchases	-$124.90M	-$324.30M	-$155.60M	-$37.00M	-$55.00M
Net Change in Cash	-$5.90M	-$38.30M	$11.00M	$42.00M	-$66.00M

Market Snapshot

About

Targa Resources is a leading provider of midstream natural gas and natural gas liquids (NGL) services in North America. The company operates extensive gathering and processing infrastructure, fractionation facilities, and logistics assets across key energy-producing regions. Targa provides essential services including natural gas gathering, processing, transportation, and storage.