Targa Resources Corp. (TRGP) Valuation
Historical valuation analysis based on 1279 data points (2021-09-14 to 2026-10-16)
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. (TRGP) currently trades at a P/E ratio of 27.89 (historical range: 18.39–1463.94, median: 31.20), placing it at the 29th percentile — below its historical average, P/S ratio of 3.78 (range: 0.62–3.87, 100th percentile — expensive relative to its history), EV/EBITDA of 20.79 (range: 14.37–68.90, 37th percentile).
Over the historical period (2021-09-14 to 2026-10-16), Targa Resources Corp.'s P/E ratio has contracted by 38% over the observed period (from an average of 247.1 to 154.2).
Targa Resources Corp. trades above its historical valuation range, with most metrics above their median levels.
Historical Valuation Metrics
| Metric | Current | Median | %ile | Assessment |
|---|---|---|---|---|
| P/E Ratio | 27.89 | 31.20 | 29th | below its historical average |
| P/S Ratio | 3.78 | 1.50 | 100th | expensive relative to its history |
| EV/EBITDA | 20.79 | 22.65 | 37th | below its historical average |
| FCF Yield | 1.17% | 7.09% | 7th | expensive relative to its history |
Targa Resources Corp. (TRGP) Valuation & P/E History
Targa Resources Corp. (TRGP) is a US-listed stock operating in the Utilities sector, specifically the Natural Gas Transmission industry currently trading at $289.01 with a market capitalization of $62.0 billion. This page provides historical valuation analysis for TRGP based on 1279 data points covering 2021-09-14 to 2026-10-16. The P/E ratio of 27.89 is below the historical median of 31.20, placing TRGP at the 29th percentile of its valuation range. The P/S ratio of 3.78 compares to a median of 1.50.
TRGP Valuation Metrics & Historical Range
The valuation table above shows Targa Resources Corp.'s current and historical valuation multiples, including P/E ratio, P/S ratio, EV/EBITDA, FCF yield, and dividend yield. Each metric is compared to its own historical range to determine whether TRGP is currently trading above or below its typical valuation levels.
- P/E ratio: Price-to-earnings measures how much investors pay per dollar of earnings. A P/E above the historical median suggests TRGP is expensively valued; below the median suggests it is cheap.
- P/S ratio: Price-to-sales is useful for companies with volatile or negative earnings. Lower P/S relative to history may indicate value.
- EV/EBITDA: Enterprise value to EBITDA adjusts for debt and cash, providing a capital-structure-neutral valuation measure for Targa Resources Corp..
- FCF yield: Free cash flow yield shows the cash return relative to market price. Higher yields may indicate undervaluation.
Is TRGP Overvalued or Undervalued?
Targa Resources Corp. trades above its historical valuation range, with most metrics above their median levels. The overall valuation percentile of 55 combines P/E, P/S, and EV/EBITDA percentiles into a single measure of how expensive TRGP is relative to its own history. A percentile below 25 suggests the stock may be undervalued, while a percentile above 75 suggests it may be overvalued.
However, valuation is only one factor in investment decisions. A stock can remain "overvalued" for years if growth accelerates, or "undervalued" if the business deteriorates. Always combine valuation analysis with financial statement analysis and the full TRGP analysis page for a complete picture.
Valuation data is computed from historical price and fundamental data via Polygon.io and Finnhub.TRGP trades on NYSE/NASDAQ. This page is for informational purposes only and is not financial advice.