Sunday 1 November 2026 Export TRGP’s income statement to Excel — free account

Targa Resources, Inc.

Targa Resources, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $17.0 billion, up 3.95% from fiscal 2024.

Revenue: +4.23%
EPS: +22.9%
Free cash flow: +1,002.1%
Total debt: +16.2%

Quarter to June 2026, against a year earlier

314.99 2.62 +0.84%

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Market cap: $67.0B
P/E: 30.1×
Fwd P/E: 27.8×
Dividend yield: 1.51%
F-score: 6/9
Altman Z: 2.27
Beneish M: −3.05
Dividend safety: 64/100

Overview Business Profile Earnings & Analysis Segments Filings

Targa Resources, Inc. (TRGP) revenue by segment, product and region

Revenue by product or service $m

Line	FY2016
Sales of Commodities	5,627 84.10%
Fees from Midstream Services	1,064 15.90%
Also reported: a second breakdown of the same revenue
NGL	3,793 56.69%
Natural Gas	1,591 23.78%
Gathering and Processing	445 6.65%
Storage Terminaling Transportation And Export Fees	420 6.28%
Condensate and Crude Oil	134 2.00%
Fractionating And Treating Fees	126 1.89%
Other	73 1.09%
Petroleum Products	68 1.02%
Revenue	6,691

Revenue by segment $m

Line	FY2018	FY2017
Logistics and Transportation	8,896 95.14%	7,477 95.85%
Gathering and Processing	5,587 59.75%	4,501 57.70%
Other	(8) (0.08%)	(2) (0.03%)
Corporate and Eliminations	(3,991) (42.68%)	(3,511) (45.01%)
Eliminations	(1,133) (12.12%)	(664) (8.51%)
Revenue	9,351	7,801

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Condensate sales	Q1 FY2026	21.80	—	—
Crude oil gathered	Q2 FY2026	143.8K	—	—
Natural gas sales	Q2 FY2026	3.08T	—	—
NGL	Q2 FY2026	0.48	—	—
NGL production, Badlands	Q2 FY2026	16.9K	16.10	+104,868.94%
NGL production, Coastal	Q1 FY2026	37.80	—	—
NGL production, Permian Delaware	Q2 FY2026	500.8K	406.70	+123,037.45%
NGL production, Permian Midland	Q2 FY2026	506.1K	450.10	+112,341.68%
NGL production, Total	Q2 FY2026	1.2M	—	—
NGL production, Total Central	Q2 FY2026	118.3K	120.20	+98,319.30%
NGL production, Total Permian	Q2 FY2026	1.0M	856.80	+117,418.67%
NGL sales	Q2 FY2026	680.8K	—	—
Plant natural gas inlet, Badlands	Q2 FY2026	133.8M	130.90	+102,215,331.63%
Plant natural gas inlet, Coastal	Q2 FY2026	577.5M	398.80	+144,809,328.28%
Plant natural gas inlet, Permian Delaware	Q2 FY2026	3.8B	3.2K	+119,610,215.91%
Plant natural gas inlet, Permian Midland	Q2 FY2026	3.4B	3.1K	+109,249,143.45%
Plant natural gas inlet, Total	Q2 FY2026	8.9B	7.9K	+112,856,499.95%
Plant natural gas inlet, Total Central	Q2 FY2026	1.0B	1.1K	+93,003,674.28%
Plant natural gas inlet, Total Permian	Q2 FY2026	7.2B	6.3K	+114,483,812.07%

	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
Condensate sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Crude oil gathered	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Natural gas sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL production, Badlands	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL production, Coastal	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL production, Permian Delaware	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL production, Permian Midland	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL production, Total	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL production, Total Central	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL production, Total Permian	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Plant natural gas inlet, Badlands	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Plant natural gas inlet, Coastal	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Plant natural gas inlet, Permian Delaware	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Plant natural gas inlet, Permian Midland	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Plant natural gas inlet, Total	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Plant natural gas inlet, Total Central	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Plant natural gas inlet, Total Permian	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.