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Friday 6 November 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.

Revenue
+34.9%
EPS
+38.0%
Free cash flow
+265.7%
Total debt
+13.8%

Quarter to September 2026, against a year earlier

267.45 4.37 −1.61%
Market cap
$58.3B
P/E
24.1×
Fwd P/E
27.8×
Dividend yield
1.74%
F-score
6/9
Altman Z
2.27
Beneish M
−3.05
Dividend safety
64/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Targa Resources, Inc. (TRGP) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, Targa Resources, Inc. (TRGP) trades at a P/B ratio of 14.8×. Over the past ten years it has ranged from 0.1× (March 2020) to 18.2× (May 2026); the current reading is higher than 94% of that period. That is above the Oil & Gas Midstream industry median of 1.7× and above the Energy sector median of 1.4×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 12.5× 40.13%
FY2024 8.9× 111.29%
FY2023 4.2× 30.63%
FY2022 3.2× 39.77%
FY2021 2.3× 122.24%
FY2020 1.0× (7.72%)
FY2019 1.1× 4.01%
FY2018 1.1× (28.10%)
FY2017 1.5× (3.87%)
FY2016 1.6× 575.26%

Quarterly newest first

Period P/B ratio Change
Sep 2026 14.6× (3.43%)
Jun 2026 15.2× (7.98%)
Mar 2026 16.5× 32.15%
Dec 2025 12.5× (2.02%)
43 more quarters

Against its own ten years

Low 0.1× High 18.2×
Ten-year median 1.6×
Current reading's percentile 93

P/B ratio against peers

Company P/B ratio
ET Energy Transfer LP compare 1.4×
OKE ONEOK, Inc. compare 1.7×
KMI Kinder Morgan, Inc. compare 2.1×
EPD Enterprise Products Partners L.P. compare 2.5×
TRP TC Energy Corporation compare 2.6×
WMB Williams Companies, Inc. (The) compare 3.7×
MPLX MPLX LP compare 4.0×
LNG Cheniere Energy, Inc. compare 4.8×
TRGP Targa Resources, Inc. 14.8×
Oil & Gas Midstream industry median 1.7×
Energy sector median 1.4×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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