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.
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Targa Resources, Inc. (TRGP) Debt to equity
Targa Resources, Inc.'s debt to equity at the end of the quarter to 30 June 2026 was 5.2×, down 0.3× from fiscal 2025 (5.5×). Over the past ten years it has ranged from 0.7× (fiscal 2017) to 5.5× (fiscal 2025) — the current reading is the highest in ten years. That is above the Oil & Gas Midstream industry median of 0.8× and above the Energy sector median of 0.4×.
Debt to equity, annual
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Annual newest first
| Period | Debt to equity | Change |
|---|---|---|
| FY2025 | 5.5× | 69.90% |
| FY2024 | 3.2× | 14.17% |
| FY2023 | 2.8× | 21.36% |
| FY2022 | 2.3× | 108.08% |
| FY2021 | 1.1× | (10.98%) |
| FY2020 | 1.3× | 39.37% |
| FY2019 | 0.9× | 3.92% |
| FY2018 | 0.9× | 19.10% |
| FY2017 | 0.7× | (12.18%) |
| FY2016 | 0.8× | (13.15%) |
Quarterly newest first
| Period | Debt to equity | Change |
|---|---|---|
| Jun 2026 | 5.2× | (11.87%) |
| Mar 2026 | 5.9× | 7.37% |
| Dec 2025 | 5.5× | (11.39%) |
| Sep 2025 | 6.2× | (1.02%) |
| 42 more quarters | Free account |
Against its own ten years
Debt to equity against peers
| Company | Debt to equity |
|---|---|
| KMI Kinder Morgan, Inc. compare | 1.0× |
| EPD Enterprise Products Partners L.P. compare | 1.1× |
| ET Energy Transfer LP compare | 1.4× |
| OKE ONEOK, Inc. compare | 1.4× |
| TRP TC Energy Corporation compare | 1.7× |
| MPLX MPLX LP compare | 1.8× |
| WMB Williams Companies, Inc. (The) compare | 2.0× |
| LNG Cheniere Energy, Inc. compare | 2.1× |
| TRGP Targa Resources, Inc. | 5.2× |
| Oil & Gas Midstream industry median | 0.8× |
| Energy sector median | 0.4× |
| Market median | 0.1× |
What Debt to equity is
Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.
(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)
More on TRGP
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement