Targa Resources revenue and financials
$285.72Change from previous close: −0.58%Absolute change: −$1.68
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 3,917 | 3,650 | 3,212 | 2,381 | 2,303 | 1,745 | 1,390 | 1,144 | 940 | 837 |
| Depreciation and amortization | 1,515 | 1,423 | 1,330 | 1,096 | 871 | 865 | 972 | 816 | 810 | 758 |
| Capital expenditure | -3,333 | -2,966 | -2,385 | -1,334 | -505 | -952 | -2,878 | -3,115 | -1,298 | -562 |
| Investing cash flow | -3,642 | -3,021 | -2,401 | -4,150 | -473 | — | — | — | — | — |
| Financing cash flow | -267 | -613 | -888 | 1,829 | -1,914 | — | — | — | — | — |
| Dividends paid | -818 | -616 | -427 | -380 | -188 | — | — | — | — | — |
| Share repurchases | -709 | -811 | -430 | -261 | -53.2 | — | — | — | — | — |
| Debt issued | 116,265 | 87,205 | 62,874 | 41,821 | 2,250 | — | — | — | — | — |
| Debt repaid | -113,107 | -86,045 | -61,538 | -37,124 | -3,430 | — | — | — | — | — |
| Net change in cash | 8.8 | 15.6 | -77.3 | 60.5 | -84.3 | — | — | — | — | — |
| Free cash flow | 584 | 684 | 826 | 1,047 | 1,798 | — | — | — | — | — |
| Levered free cash flow | -264 | 281 | 203 | 243 | 1,356 | — | — | — | — | — |