Targa Resources revenue and financials

TRGP · NYSE · USD

$285.34−0.72%−$2.06

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
  1. $5.59B2016
  2. $8.81B2017
  3. $10.48B2018
  4. $8.67B2019
  5. $8.26B2020
  6. $16.95B2021
  7. $20.93B2022
  8. $16.06B2023
  9. $16.38B2024
  10. $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.

ItemQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023
Total revenue4,4404,0954,0564,1514,2604,5624,4053,8523,5624,5624,2403,897
Cost of revenue2,3022,3952,3082,5062,4363,2582,9232,3652,1973,2182,8992,690
Gross profit2,1381,7001,7481,6451,8241,3041,4831,4871,3651,3441,3411,207
Selling, general and administrative462433449438419398403404389365365368
Operating income1,2358569178371,034543701728627639635505
EBIT1,2358569178371,034543701728627639635505
EBITDA1,6881,2821,3081,2201,4079111,0791,084976980978838
Interest expense237228216221218197178185176229178175
Pre-tax income1,005611692621821352524545453415460333
Income tax22712413913418472.211097.094.382.710353.9
Net income765480545478629271351387299275300220
Net income to common shareholders761477542476625199316385296273278218
Basic EPS3.542.222.522.212.890.911.451.761.341.231.250.97
Diluted EPS3.542.212.512.202.870.911.441.751.331.221.230.97
Average shares (basic)215215215215217218218219221223223224
Average shares (diluted)215216216216217219219220222224225225
Dividend per share1.251.251.001.001.001.000.750.750.750.750.500.50