Targa Resources revenue and financials

TRGP · NYSE · USD

$285.89−0.53%−$1.51

Close · October 6, 2026

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%.

Annual revenue · 2025: $17.03B

$5.59B2016
$8.81B2017
$10.48B2018
$8.67B2019
$8.26B2020
$16.95B2021
$20.93B2022
$16.06B2023
$16.38B2024
$17.03B2025

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.

Balance sheet · Annual
Item	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Total assets	25,218	22,734	20,672	19,560	15,208	15,876	18,815	16,938	14,389	12,871
Current assets	2,363	2,296	2,195	2,357	1,770	1,460	1,658	1,419	1,270	1,007
Cash and equivalents	166	157	142	219	159	243	331	232	137	73.5
Receivables	1,475	1,618	1,471	1,408	1,332	—	—	—	—	—
Inventory	429	334	372	394	153	—	—	—	—	—
Net property, plant and equipment	20,629	18,166	15,871	14,272	11,719	—	—	—	—	—
Goodwill	112	45.2	45.2	45.2	45.2	45.2	45.2	46.6	257	210
Other intangible assets	1,651	1,977	2,351	2,735	1,095	—	—	—	—	—
Long-term investments	307	193	146	131	587	—	—	—	—	—
Current liabilities	3,547	3,173	2,761	3,067	2,299	1,779	1,873	2,799	1,617	1,168
Accounts payable	1,873	2,013	1,575	1,449	1,402	—	—	—	—	—
Long-term debt	17,433	14,175	12,954	11,536	6,597	7,756	7,822	6,660	5,053	4,881
Total debt	17,522	14,265	13,010	11,565	—	—	—	—	—	—
Total liabilities	22,020	18,316	16,062	14,578	9,280	—	—	—	—	—
Total equity (incl. minority)	3,198	4,418	4,610	4,982	5,928	—	—	—	—	—
Retained earnings	2,294	1,190	492	-627	-1,822	—	—	—	—	—
Minority interest	130	1,826	1,870	2,317	3,167	—	—	—	—	—