Financial Statements · From SEC 10-K & 10-Q XBRL Filings
Targa Resources Corp. Revenue & Financial Statements
Targa Resources Corp. reported revenue of $17.0B for the fiscal year ended December 31, 2025, up 20.5% year over year, with net income of $2.0B and diluted EPS of $8.49.
- Company
- Targa Resources Corp. TRGP · NYSE
- Latest fiscal year
- FY ended Dec 31, 2025
- Statements
- Income · Balance Sheet · Cash Flow — 5 fiscal years, 8 quarters
Income Statement
Annual, as reported in 10-K filings. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | 16.1B | 19.8B | 13.5B | 14.1B | 17.0B |
| Cost of revenue | 13.7B | 16.9B | 10.7B | 10.7B | 10.5B |
| Gross profit | 2.4B | 2.9B | 2.8B | 3.4B | 6.5B |
| Operating income | 864.8M | 1.7B | 2.6B | 2.7B | 3.3B |
| Pretax income | 436.9M | 1.7B | 1.9B | 1.9B | 2.5B |
| Net income | (16.1M) | 896.8M | 835.8M | 1.3B | 2.0B |
| Diluted EPS | -0.07 | 3.88 | 3.66 | 5.74 | 8.49 |
| EBITDA | 1.6B | 2.6B | 3.6B | 3.7B | 4.8B |
Quarterly
| USD | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.0B | 3.0B | 3.9B | 4.4B | 4.6B | 4.3B | 4.2B | 4.1B |
| Cost of revenue | 3.2B | 2.2B | 2.4B | 2.9B | 3.3B | 2.4B | 2.5B | 2.3B |
| Gross profit | 770.1M | 850.3M | 1.5B | 1.5B | 1.3B | 1.8B | 1.6B | 1.7B |
| Operating income | 639.4M | 627.2M | 728.2M | 700.5M | 543.3M | 1.0B | 836.9M | 917.4M |
| Pretax income | 415.3M | 453.2M | 545.1M | 524.4M | 352.0M | 821.3M | 620.9M | 692.2M |
| Net income | 275.2M | 298.5M | 387.4M | 318.1M | 200.0M | 629.1M | 478.4M | 553.1M |
| Diluted EPS | 1.22 | 1.33 | 1.75 | 1.44 | 0.91 | 2.87 | 2.20 | 2.51 |
| EBITDA | 886.6M | 882.5M | 990.3M | 985.7M | 829.4M | 1.3B | 1.1B | 1.3B |
Balance Sheet
Fiscal year-end snapshots. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total assets | 15.2B | 19.6B | 20.7B | 22.7B | 25.2B |
| Current assets | 1.8B | 2.4B | 2.2B | 2.3B | 2.4B |
| Cash & equivalents | 158.5M | 219.0M | 141.7M | 157.3M | 166.1M |
| Total liabilities | — | — | — | — | — |
| Current liabilities | 2.3B | 3.1B | 2.8B | 3.2B | 3.5B |
| Long-term debt | — | — | — | — | — |
| Total debt | — | — | — | — | — |
| Stockholders’ equity | 2.0B | 2.7B | 2.7B | 2.6B | 3.1B |
| Net debt | — | — | — | — | — |
Cash Flow Statement
Annual, as reported in 10-K filings. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Operating cash flow | 2.3B | 2.4B | 3.2B | 3.6B | 3.9B |
| Investing cash flow | (473.2M) | (4.1B) | (2.4B) | (3.0B) | (3.6B) |
| Financing cash flow | (1.9B) | 1.8B | (888.1M) | (612.8M) | (266.6M) |
| Capital expenditure | 505.1M | 1.3B | 2.4B | 3.0B | 3.3B |
| Free cash flow | 1.8B | 1.0B | 826.2M | 683.9M | 584.1M |
| Dividends paid | — | — | — | — | — |
| Stock-based compensation | 59.2M | 57.5M | 62.4M | 63.2M | 69.5M |
Figures are parsed from SEC XBRL company facts and may be derived where issuers report year-to-date values (quarterly figures differenced; Q4 computed as FY minus Q3). Fiscal periods follow each company's fiscal calendar, not calendar years. Historical fact, not investment advice — verify with official SEC filings.
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