Targa Resources revenue and financials
$287.40Change from previous close: +2.01%Absolute change: +$5.66
In the fiscal year ended December 2025, Targa Resources reported revenue of $17.03B (+3.95% year over year). Net income was $1.92B, a net margin of 11.3%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +3.95%
- 2025 vs 2024
- Net income growth
- +46.57%
- 2025 vs 2024
- Net margin
- 11.3%
- 2024: 8.0%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 17,028 | 16,382 | 16,060 | 20,930 | 16,950 | 8,260 | 8,671 | 10,484 | 8,815 | 5,587 |
| Cost of revenue | 10,508 | 10,703 | 10,676 | 16,882 | 13,730 | 5,187 | 6,208 | 8,238 | 6,906 | 4,923 |
| Gross profit | 6,521 | 5,679 | 5,384 | 4,048 | 3,220 | — | 2,553 | 2,246 | 1,909 | 1,768 |
| Selling, general and administrative | 1,704 | 1,561 | 1,427 | 1,223 | 1,020 | — | — | — | — | — |
| Operating income | 3,331 | 2,695 | 2,626 | 1,729 | 865 | -1,304 | 193 | 238 | -122 | 55.8 |
| EBIT | 3,331 | 2,695 | 2,626 | 1,729 | 1,317 | — | — | — | — | — |
| EBITDA | 4,847 | 4,118 | 3,956 | 2,830 | 2,192 | — | — | — | — | — |
| Interest expense | 853 | 767 | 688 | 446 | 388 | — | — | — | — | — |
| Pre-tax income | 2,486 | 1,938 | 1,943 | 1,663 | 437 | — | — | — | — | — |
| Income tax | 530 | 385 | 363 | 132 | 14.8 | -248 | -87.9 | 5.5 | -397 | -101 |
| Net income | 1,923 | 1,312 | 1,346 | 1,196 | 71.2 | -1,554 | -209 | 1.6 | 54.0 | -187 |
| Net income to common shareholders | 1,841 | 1,270 | 828 | 897 | -16.1 | — | — | — | — | — |
| Basic EPS | 8.52 | 5.77 | 3.69 | 3.95 | -0.07 | -7.26 | -1.44 | -0.53 | -0.31 | -1.80 |
| Diluted EPS | 8.49 | 5.74 | 3.66 | 3.88 | -0.07 | -7.26 | -1.44 | -0.53 | -0.31 | -1.80 |
| Average shares (basic) | 216 | 220 | 225 | 227 | 229 | — | — | — | — | — |
| Average shares (diluted) | 217 | 221 | 226 | 231 | 229 | 232 | 233 | 224 | 207 | 154 |
| Dividend per share | 4.00 | 3.00 | 2.00 | 1.40 | 0.65 | — | — | — | — | — |