Targa Resources Financial Statements
NYSE: TRGPUtilitiesNatural Gas DistributionUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
After hours: 286.70 0.00%
Targa Resources revenue and earnings
In fiscal 2025, Targa Resources generated $17.03 billion in revenue, up 3.9% from fiscal 2024, its 2nd consecutive year of revenue growth. Net income was $1.92 billion (+46.6% year over year), for a net margin of 11.3% versus a median of 5.7% in the prior 5 years. Gross margin was 38.3% (up from 34.7%) and operating margin 19.6%.
Diluted earnings per share came in at $8.49, up from $5.74. Over the last 5 fiscal years, TRGP's revenue has grown at a 15.6% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Targa Resources income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20212022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 17.03B | 16.38B | 16.06B | 20.93B | 16.95B | 8.26B | 8.67B | 10.48B | 8.81B | 5.59B |
| Revenue growth (YoY) | +3.95% | +2.00% | -23.27% | +23.48% | +105.20% | -4.74% | -17.29% | +18.93% | +57.78% | — |
| Cost of Revenue | 10.51B | 10.70B | 10.68B | 16.88B | 13.73B | 5.19B | 6.21B | 8.24B | 6.91B | 4.92B |
| Gross Profit | 6.52B | 5.68B | 5.38B | 4.05B | 3.22B | 3.07B | 2.55B | 2.25B | 1.91B | 1.77B |
| Operating Expenses | 3.19B | 2.98B | 2.76B | 2.32B | 2.36B | 4.38B | 2.36B | 2.01B | 2.03B | 1.71B |
| Operating Income | 3.33B | 2.70B | 2.63B | 1.73B | 864.80M | -1.30B | 192.90M | 237.50M | -122.40M | 55.80M |
| Other Income (Expense) | -3.80M | 400.00K | -4.90M | -15.10M | 500.00K | 3.70M | — | 100.00K | -2.60M | 800.00K |
| Pretax Income | 2.49B | 1.94B | 1.94B | 1.66B | 436.90M | -1.57B | -46.70M | 65.90M | -292.90M | -259.70M |
| Income Tax | 529.70M | 384.50M | 363.20M | 131.80M | 14.80M | -248.10M | -87.90M | 5.50M | -397.10M | -100.60M |
| Net Income | 1.92B | 1.31B | 1.35B | 1.20B | 71.20M | -1.55B | -209.20M | 1.60M | 54.00M | -187.30M |
| Net Income growth (YoY) | +46.57% | -2.52% | +12.58% | +1579.07% | — | — | -13175.00% | -97.04% | — | -421.27% |
| EPS (Basic) | 8.52 | 5.77 | 3.69 | 3.95 | -0.07 | -7.26 | -1.44 | -0.53 | -0.31 | -1.80 |
| EPS (Diluted) | 8.49 | 5.74 | 3.66 | 3.88 | -0.07 | -7.26 | -1.44 | -0.53 | -0.31 | -1.80 |
| Shares Outstanding (Basic) | 216.10M | 220.20M | 224.60M | 227.30M | 228.60M | 232.20M | 232.50M | 224.20M | 206.90M | 154.40M |
| Shares Outstanding (Diluted) | 216.90M | 221.30M | 226.00M | 231.10M | 228.60M | 232.20M | 232.50M | 224.20M | 206.90M | 154.40M |
| EBITDA | 4.85B | 4.12B | 3.96B | 2.83B | 1.74B | -438.60M | 1.16B | 1.05B | 687.10M | 813.50M |
| Gross Margin | 38.29% | 34.66% | 33.52% | 19.34% | 19.00% | 37.21% | 29.44% | 21.42% | 21.65% | 31.65% |
| Operating Margin | 19.56% | 16.45% | 16.35% | 8.26% | 5.10% | -15.78% | 2.22% | 2.27% | -139.00% | 100.00% |
| Net Margin | 11.29% | 8.01% | 8.38% | 5.71% | 42.00% | -18.81% | -2.41% | 2.00% | 61.00% | -3.35% |
This table shows 10 annual periods of Targa Resources's income statement, from FY 2025 back to FY 2016, across 18 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow TRGP's reporting calendar. What is a income statement?