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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%
Market cap
$60.6B
P/E
28.0×
Fwd P/E
24.7×
Dividend yield
1.53%
F-score
6/9
Altman Z
2.27
Beneish M
−3.05
Dividend safety
64/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Targa Resources, Inc. (TRGP) Gross margin

Alert me on Gross margin

Targa Resources, Inc.'s gross margin over the twelve months to 30 June 2026 was 43.2%, up 4.9 percentage points from fiscal 2025 (38.3%). Over the past ten years it has ranged from 19.0% (fiscal 2021) to 38.3% (fiscal 2025) — the current reading is the highest in ten years. That is below the Oil & Gas Midstream industry median of 56.6% and below the Energy sector median of 49.5%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 38.3% 3.63
FY2024 34.7% 1.14
FY2023 33.5% 14.18
FY2022 19.3% 0.34
FY2021 19.0% (18.21)
FY2020 37.2% 8.80
FY2019 28.4% 6.99
FY2018 21.4% (0.23)
FY2017 21.7% (4.77)
FY2016 26.4% (0.93)

Quarterly newest first

Period Gross margin Change (points)
Jun 2026 48.2% 6.63
Mar 2026 41.5% (1.58)
Dec 2025 43.1% 3.48
Sep 2025 39.6% (3.20)
42 more quarters

Against its own ten years

Low 19.0% High 38.3%
Ten-year median 27.4%
Current reading's percentile 100

Gross margin against peers

Company Gross margin
WMB Williams Companies, Inc. (The) compare 82.8%
TRP TC Energy Corporation compare 70.4%
KMI Kinder Morgan, Inc. compare 66.6%
MPLX MPLX LP compare 59.7%
TRGP Targa Resources, Inc. 43.2%
LNG Cheniere Energy, Inc. compare 38.5%
OKE ONEOK, Inc. compare 27.2%
ET Energy Transfer LP compare 23.6%
EPD Enterprise Products Partners L.P. compare 13.3%
Oil & Gas Midstream industry median 56.6%
Energy sector median 49.5%
Market median 46.2%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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