Targa Resources Corp. (TRGP) Financial Statements
Historical financial data — 42 statements covering FY2018–FY2025
Targa Resources Corp is a midstream firm that mainly operates gathering and processing assets with substantial positions in the Permian, Stack, Scoop, and Bakken plays. It has fractionation capacit...
Targa Resources Corp.'s revenue increased 3.9% year over year, from $16.38B to $17.03B.
Net income increased 46.6% over the same period, from $1.31B to $1.92B.
Over the 7-year period from FY2018 to FY2025, revenue grew by 62% in total.
Total debt increased by 20.9% to $16.66B.
The debt-to-equity ratio stands at 5.43, indicating a high leverage profile.
Operating cash flow grew 7.3% to $3.92B.
Targa Resources Corp. maintains a healthy net profit margin of 11.3%.
Recent Financial Statements
Quarterly figures are standalone quarters, de-cumulated from YTD filings (Q4 = FY − Q3 YTD when not reported).
| Period | Revenue | Net Income | Gross Profit | EBIT | Op. Cash Flow | Total Assets | Total Debt | Equity |
|---|---|---|---|---|---|---|---|---|
| Q3 FY2024 | $3.85B+8.1% | $387.3M | $1.49B | $728.2M | $540.9M | $21.90B | $13.60B | $2.57B |
| Q4 FY2024 | $4.41B+14.4% | $351.0M | $1.48B | $700.5M | $1.33B | $22.73B | $13.79B | $2.59B |
| Q1 FY2025 | $4.56B+3.5% | $270.5M | $1.30B | $543.3M | $954.4M | $22.80B | $15.55B | $2.45B |
| Q2 FY2025 | $4.26B-6.6% | $629.1M | $1.82B | $1.03B | $858.3M | $23.51B | $16.08B | $2.59B |
| Q3 FY2025 | $4.15B-2.6% | $478.4M | $1.64B | $836.9M | $599.2M | $24.17B | $16.74B | $2.71B |
| Q4 FY2025 | $4.06B-2.3% | $545.0M | $1.75B | $917.4M | $1.51B | $25.22B | $16.66B | $3.07B |
| Q1 FY2026 | $4.09B+1.0% | $479.6M | $1.70B | $846.9M | $739.5M | N/A | N/A | N/A |
| Q2 FY2026 | $4.44B+8.4% | $764.6M | $2.14B | $1.23B | $1.44B | N/A | N/A | N/A |
Balance Sheet Summary (FY2025)
Targa Resources Corp. (TRGP) Financial Statements & Revenue History
Targa Resources Corp. (TRGP) is a US-listed stock operating in the Utilities sector, specifically the Natural Gas Transmission industry trading at $289.01 with a market capitalization of $62. This page provides 42 historical financial statements for Targa Resources Corp., including income statement, balance sheet, and cash flow data across multiple reporting periods. Most recently, Targa Resources Corp. reported revenue of $17.0 billion, representing 3.9% year-over-year growth. The net profit margin of 11.3% indicates moderate profitability. The debt-to-equity ratio of 5.43 signals high leverage.
TRGP Income Statement, Balance Sheet & Cash Flow
The financial statements table above shows Targa Resources Corp.'s revenue, net income, gross profit, EBIT, operating cash flow, total assets, total debt, and shareholders' equity across the most recent reporting periods. Year-over-year growth rates help identify whether TRGP is accelerating or decelerating in terms of top-line revenue and bottom-line profitability.
- Revenue trend: Track TRGP's top-line growth across quarters and fiscal years to identify acceleration or deceleration in the business.
- Profitability: Net income and gross profit margins reveal how efficiently Targa Resources Corp. converts revenue into earnings.
- Balance sheet health: Total assets, liabilities, debt, and equity provide a snapshot of TRGP's financial position and leverage.
- Cash flow: Operating cash flow shows how much cash the business generates from its core operations, which is critical for funding dividends, buybacks, and growth.
How to Use TRGP Financial Data
Investors use Targa Resources Corp.'s financial statements to assess the company's financial health, growth trajectory, and valuation. Key metrics to focus on include:
- Revenue growth rate: Consistent double-digit revenue growth suggests a strong business; declining revenue may signal competitive pressure.
- Net profit margin: Higher margins indicate a more efficient business with pricing power. Compare TRGP's margins to sector peers for context.
- Debt levels: High debt-to-equity ratios increase financial risk, especially in rising-rate environments. Low debt provides flexibility.
- Valuation multiples: See how TRGP's P/E, P/S, and EV/EBITDA ratios compare to historical levels.
- Full analysis: View TRGP's financial health score, earnings, and pre-market pricing.
Financial data is sourced from Targa Resources Corp.'s SEC filings (10-K, 10-Q) via Polygon.io and Finnhub.TRGP trades on NYSE/NASDAQ. This page is for informational purposes only and is not financial advice.