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Targa Resources Corp. (TRGP)
Energy · Oil & Gas Midstream · NYSE
Targa Resources Corp. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.59B | $8.81B | $10.48B | $8.67B | $8.26B | $16.95B | $20.93B | $16.06B | $16.38B | $17.03B |
| Gross profit | $1.77B | $1.91B | $2.25B | $2.55B | $3.07B | $3.22B | $4.05B | $5.38B | $5.68B | $6.52B |
| Net income | $-187.30M | $54.00M | $1.60M | $-209.20M | $-1.55B | $71.20M | $896.80M | $835.80M | $1.28B | $1.85B |
| Net margin | -3.4% | 0.6% | 0.0% | -2.4% | -18.8% | 0.4% | 4.3% | 5.2% | 7.8% | 10.9% |
Source: Targa Resources Corp. SEC filings (10-K). 17 years of history available in the interactive view.
What growth is priced into TRGP stock?
At today's market cap of $56.70B, Targa Resources Corp. is priced for free-cash-flow growth of about 29.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $584.10M from the FY ending 2025-12-31). For comparison, free cash flow actually grew -5.9%/yr over the last five fiscal years and revenue 15.6%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 17 years of Targa Resources Corp. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Targa Resources Corp. financial history by metric
About Targa Resources Corp.
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. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil. It is involved in the purchase and resale of NGL products; and sale of propane, as well as provision of related logistics services to multi-state retailers, independent retailers, and other end-users. In addition, the company offers NGL balancing services; and transportation services to refineries and petrochemical companies in the Gulf Coast area, as well as purchases, markets, and resells natural gas. The company also leased and owned railcars, tractors, vacuum trucks and pressurized NGL barges. Targa Resources Corp. was incorporated in 2005 and is headquartered in Houston, Texas.
Targa Resources Corp. — frequently asked questions
What is Targa Resources Corp.'s revenue?
Targa Resources Corp. (TRGP) reported revenue of $17.03B for fiscal year 2025, up 3.9% from the prior year, according to its SEC filings.
Is Targa Resources Corp. profitable?
Yes. TRGP earned net income of $1.85B in fiscal 2025, a net margin of 10.9%.
What is TRGP's P/E ratio?
Targa Resources Corp. trades at a price-to-earnings ratio of about 27.0 based on the latest data in our nightly-refreshed cache.
How fast is Targa Resources Corp. growing?
TRGP's revenue grew at roughly 15.6% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Targa Resources Corp. have?
As of fiscal year 2025, TRGP carried roughly $17.43B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Targa Resources Corp.'s gross margin?
TRGP's gross margin was 38.3% in fiscal 2025 — gross profit of $6.52B on revenue of $17.03B.
What is Targa Resources Corp.'s market cap?
Targa Resources Corp. (TRGP) has a market capitalization of about $56.70B, based on the latest data in our nightly-refreshed cache.
When does Targa Resources Corp.'s fiscal year end?
TRGP's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into TRGP stock?
At today's market cap of $56.70B, Targa Resources Corp. is priced for free-cash-flow growth of about 29.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $584.10M from the FY ending 2025-12-31). For comparison, free cash flow actually grew -5.9%/yr over the last five fiscal years and revenue 15.6%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Targa Resources Corp.'s official SEC filings (10-K and 10-Q), covering 17 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.