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Targa Resources Inc (TRGP) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

ENERGY · Oil & Gas Storage & Transportation · DATA UPDATED 2026-07-14

Targa Resources Inc (TRGP) operates in the Oil & Gas Storage & Transportation industry and is headquartered in Houston, United States with about 3,570 employees. Its market capitalization is roughly $60 billion. In the fiscal year ended 2025-12-31, TRGP reported $17.1B in revenue and $1.8B in net income.

Targa Resources Corp., together with its subsidiaries, owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation.

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TRGP Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Total Revenue	$16.4B	$17.1B	$16.6B	$15.6B	$21.7B	$17.4B	$8.3B	$8.7B	$10.6B	$8.9B	$6.6B	$6.6B	$8.6B	$6.5B	$5.8B	$7.0B	$5.5B	$4.5B	$8.0B
Gross Profit	$4.9B	$4.5B	$3.3B	$2.5B	$2.8B	$2.1B	$1.5B	$1.5B	$779M	$526M	$411M	$523M	$795M	$508M	$449M	$487M	$588M	$340M	$344M
Gross Margin %	29.9%	26.5%	20.0%	16.2%	12.9%	12.0%	18.4%	17.2%	7.4%	5.9%	6.2%	8.0%	9.2%	7.8%	7.7%	7.0%	10.8%	7.5%	4.3%
Operating Income (EBIT)	$3.5B	$3.4B	$2.9B	$2.2B	$2.5B	$1.8B	$1.3B	$193M	$518M	$321M	$223M	$360M	$646M	$356M	$309M	$351M	$188M	$219M	$248M
Operating Margin %	21.1%	20.1%	17.7%	14.0%	11.5%	10.4%	15.3%	2.2%	4.9%	3.6%	3.4%	5.5%	7.5%	5.5%	5.3%	5.0%	3.4%	4.8%	3.1%
Net Income	$2.1B	$1.8B	$1.3B	$828M	$1.1B	$71M	($1.6B)	($209M)	$2M	$54M	($187M)	$58M	$102M	$65M	$38M	$31M	($15M)	$29M	$37M
Net Margin %	13.0%	10.8%	7.6%	5.3%	5.3%	0.4%	-18.8%	-2.4%	0.0%	0.6%	-2.8%	0.9%	1.2%	1.0%	0.7%	0.4%	-0.3%	0.7%	0.5%
EBITDA	$5.0B	$4.9B	$4.1B	$4.0B	$3.2B	$1.7B	($313M)	$1.3B	$1.1B	$754M	$757M	$802M	$991M	$653M	$511M	$527M	$373M	$404M	$458M
Earnings Per Share (EPS)	$9.84	$8.58	$5.74	$3.66	$4.94	$0.31	$-6.69	$-0.90	$0.01	$0.26	$-1.01	$1.09	$2.43	$1.55	$0.91	$0.74	$-0.36	$0.69	$0.88
Shares Outstanding (M)	215M	215M	221M	226M	231M	229M	232M	232M	224M	207M	185M	54M	42M	42M	42M	41M	42M	42M	42M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TRGP Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$4.1B	$4.1B	$4.2B	$4.0B	$4.9B	$4.4B	$3.9B	$3.6B
Gross Profit	$1.3B	$1.7B	$978M	$893M	$924M	$1.1B	$864M	$782M
Gross Margin %	31.1%	43.1%	23.3%	22.2%	19.0%	25.1%	22.2%	21.6%
Operating Income (EBIT)	$847M	$917M	$885M	$809M	$836M	$700M	$764M	$684M
Operating Margin %	20.7%	22.6%	21.1%	20.1%	17.2%	15.9%	19.7%	18.9%
Net Income	$480M	$545M	$476M	$625M	$199M	$351M	$384M	$296M
Net Margin %	11.7%	13.4%	11.3%	15.5%	4.1%	8.0%	9.9%	8.2%
EBITDA	$1.0B	$1.3B	$1.2B	$1.4B	$917M	$1.1B	$1.1B	$979M
Earnings Per Share (EPS)	$2.23	$2.53	$2.20	$2.88	$0.91	$1.59	$1.75	$1.33
Shares Outstanding (M)	215M	215M	216M	217M	219M	221M	220M	222M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TRGP Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Cash from Operations (CFO)	$3.7B	$3.9B	$3.6B	$3.2B	$2.4B	$2.3B	$1.7B	$1.4B	$1.1B	$940M	$837M	$1.0B	$762M	$383M	$428M	$379M	$208M	$336M	$391M
Capital Expenditures (CapEx)	$3.4B	$3.3B	$3.0B	$2.4B	$1.3B	$505M	$952M	$2.9B	$3.1B	$1.3B	$562M	$817M	$762M	$1.0B	$583M	$332M	$139M	$99M	$132M
Free Cash Flow (FCF)	$262M	$584M	$684M	$826M	$1.0B	$1.8B	$793M	($1.5B)	($2.0B)	($358M)	$275M	$218M	$0M	($631M)	($154M)	$47M	$69M	$236M	$258M
FCF Margin %	1.6%	3.4%	4.1%	5.3%	4.8%	10.3%	9.6%	-17.2%	-18.7%	-4.0%	4.1%	3.3%	-0.0%	-9.7%	-2.6%	0.7%	1.3%	5.2%	3.2%
Dividends Paid	$870M	$818M	$616M	$427M	$380M	$188M	$396M	$965M	$908M	$843M	$566M	$179M	$113M	$362M	$274M	$38M	$448M	—	$531M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TRGP Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$740M	$1.5B	$599M	$858M	$954M	$1.3B	$541M	$904M
Capital Expenditures (CapEx)	$900M	$963M	$672M	$906M	$792M	$727M	$829M	$740M
Free Cash Flow (FCF)	($160M)	$542M	($73M)	($48M)	$162M	$601M	($288M)	$164M
FCF Margin %	-3.9%	13.4%	-1.7%	-1.2%	3.3%	13.6%	-7.4%	4.5%
Dividends Paid	$219M	$216M	$217M	$218M	$167M	$165M	$166M	$168M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TRGP Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Total Assets	$27.1B	$25.2B	$22.7B	$20.7B	$19.6B	$15.2B	$15.9B	$18.8B	$16.9B	$14.4B	$12.9B	$13.3B	$6.5B	$6.0B	$5.1B	$3.8B	$3.4B	$3.4B	$3.6B
Cash & Cash Equivalents	$100M	$166M	$157M	$142M	$219M	$158M	$243M	$331M	$232M	$137M	$74M	$140M	$81M	$67M	$76M	$146M	$188M	$252M	$363M
Total Liabilities	$23.8B	$22.0B	$18.3B	$16.1B	$14.6B	$10.0B	$10.0B	$10.4B	$9.5B	$7.4B	$7.0B	$7.0B	$3.9B	$4.0B	$3.4B	$2.5B	$2.4B	$2.6B	$2.8B
Total Debt (Short + Long-Term)	$18.9B	$17.2B	$13.9B	$12.7B	$11.3B	$6.6B	$7.7B	$7.8B	$6.7B	$5.1B	$4.9B	$6.0B	$3.1B	$3.0B	$2.5B	$1.6B	$1.5B	$1.6B	$2.0B
Total Shareholders' Equity	$3.1B	$3.1B	$2.6B	$2.7B	$2.7B	$2.0B	$2.7B	$4.9B	$6.1B	$7.0B	$5.9B	$6.2B	$170M	$2.1B	$1.8B	$158M	$144M	$87M	$135M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive TRGP viewer.

Other Companies in Oil & Gas Storage & Transportation

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