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Targa Resources (TRGP)

NYSE Energy Oil & Gas Storage & Transportation S&P 500
$264.59
-7.23 (-2.66%)
Close of Nov 06, 2026 · end-of-day data
Source: Targa Resources's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$6.69B$7.80B$9.35B$7.40B$6.87B$16.09B$19.82B$13.52B$14.14B$17.03B
Cost of revenue$4.92B$6.91B$8.24B$6.21B$5.19B$13.73B$16.88B$10.68B$10.70B$10.51B
Gross profit$1.77B$1.91B$2.25B$2.55B$1.69B$2.36B$2.94B$2.84B$3.43B$6.52B
Operating income$55.80M-$122.40M$237.50M$192.90M-$1.30B$864.80M$1.73B$2.63B$2.70B$3.33B
Pre-tax income-$259.70M-$292.90M$65.90M-$46.70M-$1.57B$436.90M$1.66B$1.94B$1.94B$2.49B
Income tax-$100.60M-$397.10M$5.50M-$87.90M-$248.10M$14.80M$131.80M$363.20M$384.50M$529.70M
Net income-$187.30M$54.00M$1.60M-$209.20M-$1.55B$71.20M$1.20B$1.35B$1.31B$1.92B
EBITDA$813.50M$687.10M$1.05B$1.16B-$438.60M$1.74B$2.83B$3.96B$4.12B$4.85B
EPS (basic)$-1.80$-0.31$-0.53$-1.44$-7.26$-0.07$3.95$3.69$5.77$8.52
EPS (diluted)$-1.80$-0.31$-0.53$-1.44$-7.26$-0.07$3.88$3.66$5.74$8.49
Diluted shares154.40M206.90M224.20M232.50M232.20M228.60M231.10M226.00M221.30M216.90M
Gross margin26.4%24.5%24.0%34.5%24.6%14.7%14.8%21.0%24.3%38.3%
Operating margin0.8%-1.6%2.5%2.6%-19.0%5.4%8.7%19.4%19.1%19.6%
Net margin-2.8%0.7%0.0%-2.8%-22.6%0.4%6.0%10.0%9.3%11.3%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$73.50M$137.20M$232.10M$331.10M$242.80M$158.50M$219.00M$141.70M$157.30M$166.10M
Receivables$674.60M$827.60M$865.50M$855.00M$862.80M$1.33B$1.41B$1.47B$1.62B$1.47B
Inventory$137.70M$204.50M$164.70M$161.50M$181.50M$153.40M$393.80M$371.50M$334.30M$429.30M
Total current assets$1.01B$1.27B$1.42B$1.66B$1.46B$1.77B$2.36B$2.19B$2.30B$2.36B
Goodwill$210.00M$256.60M$46.60M$45.20M$45.20M$45.20M$45.20M$45.20M$45.20M$112.30M
Total assets$12.87B$14.39B$16.94B$18.82B$15.88B$15.21B$19.56B$20.67B$22.73B$25.22B
Total current liabilities$1.17B$1.62B$2.80B$1.87B$1.78B$2.30B$3.07B$2.76B$3.17B$3.55B
Short-term debt$275.00M$350.00M$1.03B$370.00M$356.50M$150.00M————
Long-term debt$4.61B$4.70B$5.63B$7.82B$7.76B$6.60B$11.54B$12.95B$14.17B$17.43B
Total debt$4.88B$5.05B$6.66B$8.19B$8.11B$6.75B$11.54B$12.95B$14.17B$17.43B
Total liabilities$7.62B$8.23B$10.86B$13.89B$13.22B$13.20B$16.89B$17.93B$20.14B$22.15B
Shareholders' equity$5.25B$6.16B$6.08B$4.92B$2.65B$2.01B$2.67B$2.74B$2.59B$3.07B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$837.40M$939.50M$1.14B$1.39B$1.74B$2.30B$2.38B$3.21B$3.65B$3.92B
Capital expenditures$562.10M$1.30B$3.11B$2.88B$951.60M$505.10M$1.33B$2.39B$2.97B$3.33B
Free cash flow$275.30M-$358.00M-$1.97B-$1.49B$792.90M$1.80B$1.05B$826.20M$683.90M$584.10M
Investing cash flow-$558.60M-$1.89B-$3.15B-$3.07B-$738.10M-$473.20M-$4.15B-$2.40B-$3.02B-$3.64B
Financing cash flow-$345.50M$1.02B$2.10B$1.78B-$1.09B-$1.91B$1.83B-$888.10M-$612.80M-$266.60M
Stock-based compensation$29.70M$42.30M$56.30M$60.30M$66.20M$59.20M$57.50M$62.40M$63.20M$69.50M
Depreciation & amortization$757.70M$809.50M$815.90M$971.60M$865.10M$870.60M$1.10B$1.33B$1.42B$1.52B

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.