Targa Resources Corp.
Targa Resources Corp.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 100 | 166 | 124 | 113 | 151 | 157 | 127 | 166 | 110 | 142 | 140 | 169 | |||||
Accounts Receivable Net Current | 1,692 | 1,475 | 1,408 | 1,409 | 1,403 | 1,618 | 1,301 | 1,217 | 1,484 | 1,471 | 1,241 | 988 | |||||
Inventory Net | 334 | 429 | 491 | 444 | 256 | 334 | 415 | 321 | 225 | 372 | 536 | 312 | |||||
Other Assets Current | 211 | 138 | 157 | 164 | 191 | 125 | 110 | 100 | 82 | 99 | 138 | 65 | |||||
Assets Current | 2,438 | 2,363 | 2,280 | 2,207 | 2,076 | 2,296 | 2,028 | 1,867 | 1,973 | 2,195 | 2,139 | 1,729 | |||||
Property Plant And Equipment Net | 21,771 | 20,535 | 19,610 | 19,020 | 18,406 | 18,063 | 17,425 | 16,891 | 16,283 | 15,806 | 15,334 | 14,890 | |||||
Finite Lived Intangible Assets Net | 2,201 | 1,651 | 1,733 | 1,814 | 1,896 | 1,977 | 2,071 | 2,164 | 2,257 | 2,351 | 2,447 | 2,543 | |||||
Equity Method Investments | 315 | 307 | 316 | 269 | 218 | 193 | 177 | 160 | 152 | 146 | 138 | 132 | |||||
Other Assets Noncurrent | 344 | 327 | 203 | 176 | 170 | 179 | 167 | 166 | 164 | 141 | 114 | 120 | |||||
Assets | 27,107 | 25,218 | 24,175 | 23,513 | 22,800 | 22,734 | 21,904 | 21,264 | 20,846 | 20,672 | 20,190 | 19,462 | |||||
Liabilities Current | |||||||||||||||||
Accounts Payable Current | 1,988 | 1,873 | 1,584 | 1,727 | 1,890 | 2,013 | 1,468 | 1,687 | 1,710 | 1,575 | 1,581 | 1,173 | |||||
Accrued Liabilities Current | 193 | 359 | 281 | 214 | 164 | 336 | 321 | 243 | 296 | 282 | 292 | 283 | |||||
Interest Payable Current | 150 | 311 | 152 | 313 | 122 | 269 | 113 | 248 | 186 | 230 | 101 | 227 | |||||
Liabilities Current | 3,396 | 3,547 | 2,947 | 3,177 | 3,198 | 3,173 | 2,627 | 2,891 | 2,815 | 2,761 | 2,682 | 2,321 | |||||
Long Term Debt And Capital Lease Obligations | 18,435 | 16,662 | 16,742 | 16,082 | 15,548 | 13,787 | 13,601 | 12,966 | 12,510 | 12,333 | 12,318 | 11,813 | |||||
Deferred Income Tax Liabilities Net | 1,479 | 1,394 | 1,226 | 1,079 | 902 | 872 | 794 | 685 | 600 | 536 | 418 | 405 | |||||
Other Liabilities Noncurrent | 416 | 395 | 392 | 390 | 385 | 392 | 340 | 309 | 304 | 415 | 358 | 359 | |||||
Commitments And Contingencies | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Stockholders Equity Inclu… | |||||||||||||||||
Common Stock Value Outstanding | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Value | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | |||||
Additional Paid In Capital | 3,111 | 3,088 | 3,071 | 3,053 | 3,036 | 3,089 | 3,106 | 3,089 | 3,073 | 3,059 | 3,062 | 3,046 | |||||
Retained Earnings Accumulated Deficit | 2,557 | 2,294 | 1,966 | 1,705 | 1,295 | 1,190 | 1,005 | 784 | 654 | 492 | 306 | 200 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -15 | 114 | 57 | 43 | 6 | 28 | 65 | 11 | 34 | 86 | -5 | 131 | |||||
Treasury Stock Value | -2,517 | -2,429 | -2,388 | -2,214 | -1,886 | -1,714 | -1,602 | -1,417 | -1,058 | -897 | -856 | -701 | |||||
Stockholders Equity | 3,269 | 3,068 | 2,707 | 2,711 | 2,573 | 2,592 | 4,459 | 2,468 | 4,578 | 4,610 | 4,378 | 4,540 | |||||
Minority Interest | 133 | 130 | 127 | 123 | 121 | 1,826 | 1,885 | 1,882 | 1,874 | 1,870 | 1,872 | 1,865 | |||||
Liabilities And Stockholders Equity | 27,107 | 25,218 | 24,175 | 23,513 | 22,800 | 22,734 | 21,904 | 21,264 | 20,846 | 20,672 | 20,190 | 19,462 | |||||
Assets Current | |||||||||||||||||
Allowance For Doubtful Accounts Receivable Current | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Stockholders Equity | |||||||||||||||||
Common Stock Par Or Stated Value Per Share | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | |||||
Common Stock Shares Authorized | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | |||||
Common Stock Shares Issued | 243 | 243 | 243 | 242 | 242 | 242 | 242 | 241 | 241 | 240 | 240 | 239 | |||||
Shares Outstanding | 215 | 215 | 215 | 216 | 217 | 218 | 218 | 219 | 222 | 223 | 223 | 224 | |||||
Treasury Stock Common Shares | 29 | 28 | 28 | 27 | 25 | 24 | 23 | 22 | 19 | 17 | 17 | 15 | |||||
Preferred Stock Par Or Stated Value Per Share | - | - | - | - | - | - | - | - | - | 0.001 | 0.001 | 0.001 | |||||
Preferred Stock Shares Authorized | - | - | - | - | - | - | - | - | - | 99 | 99 | 99 | |||||
Preferred Stock Shares Issued | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | |||||
Preferred Stock Shares Outstanding | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.04% | 7.99% | 11.44% | - | - | - | - | - | - | - | - | - |
| 2025 | -1.16% | 5.13% | 5.40% | 0.52% | 4.37% | -7.86% | 7.76% | 12.42% | 17.71% | 7.09% | 8.44% | 11.24% |
| 2024 | 1.14% | 10.72% | 20.69% | 5.90% | 12.29% | 19.58% | 15.16% | -0.02% | 17.85% | -7.03% | -20.10% | -21.61% |
| 2023 | - | - | - | 3.26% | 3.21% | 5.97% | -2.67% | -3.92% | -8.60% | 11.32% | 24.34% | 21.19% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 0.72 | 0.67 | 0.77 | 0.69 | 0.65 | 0.72 | 0.77 | 0.65 | 0.70 | 0.79 | 0.80 | 0.74 | |||||
| Quick Ratio | 0.62 | 0.55 | 0.61 | 0.56 | 0.57 | 0.62 | 0.61 | 0.53 | 0.62 | 0.66 | 0.60 | 0.61 | |||||
| Working Capital | -957.70M | -1.18B | -667.60M | -969.50M | -1.12B | -876.30M | -599.10M | -1.02B | -841.50M | -566.30M | -542.80M | -591.80M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 1.04 | 1.11 | 1.09 | 1.17 | 1.24 | 0.72 | 0.59 | 1.17 | 0.61 | 0.60 | 0.61 | 0.51 | |||||
| Interest Coverage TTM | 4.12 | 3.91 | 3.82 | 3.86 | 3.53 | 3.51 | 3.43 | 3.18 | 3.25 | 3.82 | 3.88 | 4.07 | |||||
| Debt Ratio | 0.13 | 0.14 | 0.12 | 0.14 | 0.14 | 0.14 | 0.12 | 0.14 | 0.14 | 0.13 | 0.13 | 0.12 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.66 | 0.71 | 0.75 | 0.76 | 0.75 | 0.75 | 0.77 | 0.80 | 0.81 | 0.80 | 0.83 | 1.03 | |||||
| Days Sales Outstanding TTM | 34.11 | 33.15 | 28.45 | 28.06 | 32.16 | 34.42 | 28.61 | 24.75 | 28.42 | 32.72 | 30.94 | 26.61 | |||||
| Receivables Turnover TTM | 10.70 | 11.01 | 12.83 | 13.01 | 11.35 | 10.61 | 12.76 | 14.75 | 12.85 | 11.16 | 11.80 | 13.72 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 10.41 | 9.02 | 6.98 | 6.80 | 5.24 | 5.78 | 7.06 | 5.98 | 6.06 | 6.99 | 4.23 | 4.08 | |||||
| Free Cash Flow Per Share TTM | 1.22 | 2.70 | 2.99 | 1.97 | 2.93 | 3.11 | 1.46 | 1.92 | 1.52 | 3.68 | 2.71 | 3.79 | |||||
| Dividend Per Share TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 41.77% | 38.29% | 36.00% | 35.70% | 34.42% | 34.66% | 34.14% | 32.33% | 32.46% | 33.52% | 32.20% | 28.70% | |||||
| Operating Profit Margin TTM | 21.95% | 19.56% | 17.92% | 17.60% | 15.87% | 16.45% | 16.22% | 14.80% | 15.08% | 16.35% | 15.52% | 13.83% | |||||
| Net Profit Margin TTM | 13.55% | 11.49% | 8.67% | 8.65% | 7.00% | 7.81% | 9.58% | 8.15% | 8.43% | 9.83% | 5.81% | 5.19% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 1.10% | 3.95% | 7.17% | 5.03% | 1.73% | 2.00% | -0.98% | -8.85% | -21.42% | -23.27% | -24.94% | -14.71% | |||||
| Net Income Growth (1Y) | 95.73% | 52.97% | -3.00% | 11.40% | -15.49% | -19.01% | 63.24% | 43.33% | 5.71% | 76.10% | 37.57% | 35.82% | |||||
| EPS Growth (1Y) | 98.56% | 55.88% | -1.29% | 13.67% | -13.59% | -17.39% | 66.81% | 46.31% | 7.42% | 78.22% | 39.29% | 37.15% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 23.88 | 20.17 | 23.52 | 24.96 | 37.04 | 29.76 | 20.11 | 20.58 | 17.52 | 11.70 | 18.97 | 17.37 | |||||
| P/B TTM | 16.39 | 12.34 | 13.10 | 13.60 | 16.51 | 8.62 | 7.01 | 11.06 | 5.19 | 4.01 | 4.13 | 3.54 | |||||
| P/S TTM | 3.24 | 2.32 | 2.04 | 2.16 | 2.59 | 2.32 | 1.93 | 1.68 | 1.48 | 1.15 | 1.10 | 0.90 | |||||
| Market Cap | 53.59B | 39.47B | 35.46B | 36.86B | 42.47B | 38.07B | 31.26B | 27.29B | 23.77B | 18.48B | 18.06B | 16.06B | |||||
| Enterprise Value | 71.92B | 55.97B | 52.08B | 52.83B | 57.86B | 51.70B | 44.73B | 40.09B | 36.17B | 30.67B | 30.24B | 27.71B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 261.90M | 584.10M | 642.80M | 427.50M | 639.50M | 683.90M | 320.60M | 424.10M | 338.70M | 826.20M | 607.10M | 855.20M | |||||
| Net Debt | 18.33B | 16.50B | 16.62B | 15.97B | 15.40B | 13.63B | 13.47B | 12.80B | 12.40B | 12.19B | 12.18B | 11.64B | |||||
Per-Share and Margin | |||||||||||||||||
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| Adjusted EPS TTM | |||||||||||||||||
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Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
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| Average Receivables | |||||||||||||||||
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| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
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| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
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| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
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| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
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| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
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| NOPAT TTM | |||||||||||||||||
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| Dilution Ratio | |||||||||||||||||
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| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
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| Total Debt | |||||||||||||||||
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Insider Transactions
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Institutional Ownership
Targa Resources Corp. (TRGP) — SEC Financial Statements & Analysis
Targa Resources Corp. (TRGP) is a natural gas transmission company. Targa Resources Corp. trades on TRGP: NYSE as: TRGP. Based on its latest SEC filing (Form 10-Q, period ending 2026-03-31), Targa Resources Corp. reported a 1.10% year-over-year revenue growth, a Gross Profit Margin of 41.77% (TTM), a Debt-to-Equity ratio of 1.04x, a Price-to-Sales (P/S) ratio of 3.24x (TTM), a Price-to-Book (P/B) ratio of 16.39 (TTM), at a market cap of $53.59B. Figures below are sourced from SEC EDGAR, as-filed.
- Net Revenue TTM Growth 1Y
- 1.10%
- Gross Profit Margin TTM
- 41.77%
- Debt To Equity
- 1.04x
- P/S TTM
- 3.24x
- P/B TTM
- 16.39
- Market Cap
- $53.59B
Data as of 2026-03-31 · Source: SEC EDGAR
Frequently Asked Questions
What industry is Targa Resources Corp. in?
Targa Resources Corp. (TRGP) operates in the Natural Gas Transmission industry.
What is TRGP's market cap?
Targa Resources Corp. (TRGP) has a market capitalization of $53.59B as of 2026-03-31.
What is TRGP's P/E ratio?
Targa Resources Corp. (TRGP)'s trailing twelve month P/E ratio is 23.88x as of 2026-03-31.
What exchange does TRGP trade on?
Targa Resources Corp. (TRGP) trades on the TRGP: NYSE.