Saturday 17 October 2026
Export TRGP’s income statement to Excel — free account
Targa Resources, Inc.
TRGP Energy Oil & Gas Midstream
Targa Resources, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $17.0 billion, up 3.95% from fiscal 2024. In the quarter to June 2026, revenue grew 4.23%, EPS grew 22.9%, free cash flow grew 1,002.1% and total debt rose 16.2%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years, operating cash flow growth for five.
294.21
11.66
+4.13%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 17.84 | 23.42 | 30.88 | 21.65 |
Piotroski F-Score |
3 | 5 | 3 | 4 | 4 | 6 | 7 | 7 | 6 | 6 |
P/S ratio |
1.34 | 1.15 | 0.77 | 1.09 | 0.74 | 0.70 | 0.77 | 1.21 | 2.40 | 2.34 |
Altman Z-Score |
1.25 | 1.36 | 1.08 | 1.02 | 0.44 | 1.86 | 1.96 | 1.93 | 2.43 | 2.27 |
Altman Z″-Score (non-manufacturers) |
0.79 | 0.75 | 0.41 | 0.84 | (0.40) | 0.43 | 0.61 | 1.05 | 0.97 | 1.03 |
P/FCF ratio |
32.52 | 0.00 | 0.00 | 0.00 | 7.73 | 6.64 | 15.35 | 23.49 | 57.47 | 68.26 |
Beneish M-Score |
(2.49) | (2.39) | (2.83) | (2.97) | (3.55) | (1.83) | (2.56) | (3.12) | (2.93) | (3.05) |
P/Operating CF |
32.35 | 24.92 | 35.20 | 20.16 | 9.44 | 23.69 | 29.88 | 20.27 | 29.60 | 26.48 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 64 |
P/B ratio |
1.56 | 1.50 | 1.08 | 1.12 | 1.04 | 2.31 | 3.22 | 4.21 | 8.90 | 12.47 |
Price to Tangible BV |
2.32 | 2.34 | 1.48 | 1.42 | 1.35 | 2.92 | 7.14 | 8.59 | 16.10 | 25.78 |
EV/Sales |
2.06 | 1.71 | 1.38 | 1.96 | 1.65 | 1.08 | 1.31 | 2.01 | 3.26 | 3.36 |
EV/EBITDA |
13.29 | 21.58 | 11.38 | 14.46 | 0.00 | 10.53 | 9.65 | 8.12 | 12.90 | 11.75 |
EV/Operating CF |
16.43 | 16.04 | 12.68 | 12.22 | 7.82 | 7.98 | 11.50 | 10.03 | 14.61 | 14.59 |
EV/FCF |
49.98 | (42.10) | (7.36) | (11.41) | 17.20 | 10.22 | 26.16 | 39.00 | 77.97 | 97.82 |
Quick Ratio |
0.70 | 0.60 | 0.39 | 0.63 | 0.62 | 0.65 | 0.53 | 0.58 | 0.56 | 0.46 |
Current Ratio |
0.86 | 0.79 | 0.51 | 0.89 | 0.82 | 0.77 | 0.77 | 0.79 | 0.72 | 0.67 |
Net Debt/EBITDA |
4.64 | 7.04 | 5.04 | 6.38 | (17.57) | 3.69 | 3.99 | 3.23 | 3.39 | 3.55 |
Debt/Assets |
37.92% | 35.12% | 39.32% | 41.58% | 48.85% | 43.38% | 58.98% | 62.66% | 62.35% | 69.13% |
Debt/Equity |
0.83 | 0.72 | 0.86 | 0.90 | 1.25 | 1.11 | 2.32 | 2.81 | 3.21 | 5.45 |
Asset Turnover |
0.51 | 0.65 | 0.67 | 0.49 | 0.48 | 1.09 | 1.20 | 0.80 | 0.75 | 0.71 |
Operating CF/Net income |
(3.01) | (14.82) | (9.59) | (4.16) | (1.04) | (143.04) | 2.65 | 3.88 | 2.87 | 2.13 |
Capex/Depreciation |
(0.57) | (1.58) | (3.00) | (2.93) | (1.09) | (0.57) | (1.21) | (1.78) | (2.06) | (2.17) |
Interest Coverage |
0.22 | (0.52) | 1.28 | 0.57 | (3.33) | 2.23 | 3.88 | 3.82 | 3.51 | 3.91 |
| (4.64%) | (1.02%) | (1.68%) | (4.20%) | (23.49%) | (0.29%) | 17.65% | 17.27% | 28.12% | 48.35% | |
| (2.13%) | (0.47%) | (0.76%) | (1.87%) | (9.71%) | (0.10%) | 5.16% | 4.12% | 5.85% | 7.68% | |
ROIC |
0.33% | (0.64%) | 1.05% | 0.74% | (5.94%) | 4.37% | 6.63% | 9.42% | 9.14% | 10.17% |
Return on Tangible Assets |
(2.92%) | (0.63%) | (1.03%) | (2.33%) | (14.21%) | (0.14%) | 6.64% | 5.43% | 7.39% | 9.52% |
Average Days of Receivables |
40.50 | 34.27 | 30.13 | 35.99 | 38.12 | 28.68 | 24.56 | 33.43 | 36.06 | 31.61 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
11.07% | 9.37% | 9.34% | 11.35% | 11.54% | 6.02% | 5.84% | 8.88% | 9.53% | 10.01% |
Intangible Assets out of Total Assets |
0.14 | 0.17 | 0.12 | 0.09 | 0.09 | 0.07 | 0.14 | 0.11 | 0.09 | 0.07 |
Share Based Compensation of Revenue |
0.44% | 0.48% | 0.54% | 0.70% | 0.80% | 0.35% | 0.27% | 0.39% | 0.39% | 0.41% |
Graham Net Nets |
(0.66) | (0.61) | (0.97) | (0.89) | (1.34) | (0.63) | (0.76) | (0.71) | (0.41) | (0.49) |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 44.19 | 41.28 | 51.08 | 53.26 |
Earnings Yield |
(3.00%) | (1.00%) | (1.42%) | (3.53%) | (27.56%) | (0.15%) | 5.61% | 4.27% | 3.24% | 4.62% |
Free Cash Flow Yield |
3.08% | (3.52%) | (24.40%) | (15.67%) | 12.94% | 15.05% | 6.52% | 4.26% | 1.74% | 1.46% |
Revenue per Share |
43.33 | 42.60 | 46.76 | 37.30 | 35.57 | 74.15 | 92.08 | 71.51 | 74.39 | 78.80 |
Operating CF per Share |
5.42 | 4.54 | 5.10 | 5.98 | 7.51 | 10.07 | 10.47 | 14.30 | 16.57 | 18.13 |
Capex per Share |
(3.64) | (6.27) | (13.89) | (12.38) | (4.10) | (2.21) | (5.87) | (10.62) | (13.47) | (15.42) |
Free Cash Flow per Share |
1.78 | (1.73) | (8.79) | (6.40) | 3.41 | 7.86 | 4.60 | 3.68 | 3.11 | 2.70 |
Cash per Share |
0.48 | 0.66 | 1.04 | 1.42 | 1.05 | 0.69 | 0.96 | 0.63 | 0.71 | 0.77 |
Shareholders Equity per Share |
38.31 | 33.70 | 34.42 | 37.51 | 26.72 | 25.93 | 21.92 | 20.53 | 20.06 | 14.80 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
38.31 | 33.70 | 34.42 | 37.51 | 26.72 | 25.93 | 21.92 | 20.53 | 20.06 | 14.80 |
Free Cash Flow |
275.30 | (358.00) | (1,970.80) | (1,488.00) | 792.90 | 1,797.80 | 1,046.50 | 826.20 | 683.90 | 584.10 |
Working Capital |
(160.80) | (346.70) | (1,379.90) | (214.30) | (319.10) | (528.70) | (710.10) | (566.30) | (876.30) | (1,184.10) |
Capital Expenditures |
(562.10) | (1,297.50) | (3,114.80) | (2,877.80) | (951.60) | (505.10) | (1,334.30) | (2,385.40) | (2,965.80) | (3,333.30) |
Net Current Asset Value |
(5,949.20) | (6,146.20) | (7,802.80) | (8,435.10) | (8,210.80) | (7,510.00) | (12,221.20) | (13,867.20) | (16,019.60) | (19,657.50) |
EV/EBIT |
246.59 | 0.00 | 61.07 | 88.05 | 0.00 | 21.25 | 15.83 | 12.27 | 19.78 | 17.15 |
Capex to Sales |
0.08 | 0.15 | 0.30 | 0.33 | 0.12 | 0.03 | 0.06 | 0.15 | 0.18 | 0.20 |
Price to Operating Income |
160.44 | 0.00 | 34.00 | 49.21 | 0.00 | 13.81 | 9.29 | 7.39 | 14.58 | 11.97 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.10 | 0.08 | 0.08 | 0.07 | 0.07 | 0.08 | 0.08 | 0.09 | 0.08 | 0.07 |
Cash ROIC |
2.53% | (2.94%) | (13.49%) | (8.82%) | 5.58% | 14.17% | 6.25% | 4.67% | 3.65% | 2.81% |
Accounts Receivable Turnover |
10.52 | 11.23 | 12.38 | 10.08 | 9.62 | 15.45 | 15.28 | 11.16 | 10.61 | 11.01 |
Accounts Payable Turnover |
6.59 | 6.80 | 5.63 | 4.61 | 5.80 | 12.28 | 11.84 | 7.06 | 5.97 | 5.41 |
Inventory Turnover |
35.33 | 40.36 | 44.63 | 38.06 | 30.24 | 81.99 | 61.70 | 27.90 | 30.33 | 27.52 |
Average Days of Payables |
62.54 | 62.73 | 76.97 | 56.14 | 58.68 | 37.28 | 31.32 | 53.84 | 68.63 | 65.06 |
Days of Inventory on Hand |
10.21 | 10.81 | 7.30 | 9.50 | 12.77 | 4.08 | 8.51 | 12.70 | 11.40 | 14.91 |
Average Receivables |
635.85 | 785.00 | 846.55 | 860.25 | 858.90 | 1,097.35 | 1,370.15 | 1,439.70 | 1,544.65 | 1,546.45 |
Average Payables |
746.95 | 1,015.20 | 1,462.10 | 1,346.05 | 894.30 | 1,118.05 | 1,425.55 | 1,511.85 | 1,793.70 | 1,942.75 |
Average Inventory |
139.35 | 171.10 | 184.60 | 163.10 | 171.50 | 167.45 | 273.60 | 382.65 | 352.90 | 381.80 |
Average Assets |
13,041.10 | 13,629.90 | 15,663.40 | 17,876.65 | 17,345.40 | 15,541.95 | 17,384.10 | 20,115.90 | 21,702.95 | 23,976.25 |
Average Common Equity |
5,987.30 | 6,240.20 | 7,113.40 | 7,956.85 | 7,173.05 | 5,540.95 | 5,080.45 | 4,796.10 | 4,514.10 | 3,808.20 |
Columns are period end dates