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.
Follow TRGP
Targa Resources, Inc. (TRGP) Free cash flow
Targa Resources, Inc.'s free cash flow for fiscal 2025 was $584.1M, down 14.6% from $683.9M in fiscal 2024. Over the twelve months to 30 June 2026 it was $740.9M. Over the past ten years it has ranged from −$2.0B (fiscal 2018) to $1.8B (fiscal 2021); the current reading is higher than 55% of that period. Free cash flow has fallen for 4 consecutive fiscal years. Targa Resources, Inc. ranks 20th of 56 Oil & Gas Midstream companies by free cash flow.
Free cash flow, annual
Embed this chart
Annual newest first
| Period | Free cash flow | Change |
|---|---|---|
| FY2025 | $584.1M | (14.59%) |
| FY2024 | $683.9M | (17.22%) |
| FY2023 | $826.2M | (21.05%) |
| FY2022 | $1.0B | (41.79%) |
| FY2021 | $1.8B | 126.74% |
| FY2020 | $792.9M | — |
| FY2019 | −$1.5B | — |
| FY2018 | −$2.0B | — |
| FY2017 | −$358.0M | — |
| FY2016 | $275.3M | 26.57% |
Quarterly newest first
| Period | Free cash flow | Change |
|---|---|---|
| Jun 2026 | $431.2M | — |
| Mar 2026 | −$160.0M | — |
| Dec 2025 | $542.3M | — |
| Sep 2025 | −$72.6M | — |
| 42 more quarters | Free account |
Against its own ten years
Free cash flow against peers
| Company | Free cash flow |
|---|---|
| ET Energy Transfer LP compare | $5.2B |
| MPLX MPLX LP compare | $4.3B |
| EPD Enterprise Products Partners L.P. compare | $4.1B |
| TRP TC Energy Corporation compare | $2.9B |
| OKE ONEOK, Inc. compare | $2.9B |
| LNG Cheniere Energy, Inc. compare | $2.7B |
| KMI Kinder Morgan, Inc. compare | $2.7B |
| TRGP Targa Resources, Inc. | $740.9M |
| WMB Williams Companies, Inc. (The) compare | −$214.0M |
What Free cash flow is
Free Cash Flow tells an investor how much cash a company’s operations generate after paying for its investment in physical and intangible assets.
Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)
More on TRGP
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- 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
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement