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