NYSE:TRGP
Targa Resources Corp.
Targa Resources Corp.'s revenue grew 3.9% in fiscal 2025 to $17.0B while operating margin rose to 19.6%, its highest in 10 years. Free cash flow was $584.1M, 3.4% of revenue, and the diluted share count fell 2.0%.Summary generated from Targa Resources Corp.'s SEC filings. Latest annual report filed Feb 19, 2026.
Key statistics
Fiscal 2025 from SEC filings. MethodologyRevenue (FY25)$17.0B
Revenue growth+3.9%
Revenue, 5-yr CAGR+15.6%
Gross margin38.3%
Operating margin19.6%
Net margin11.3%
ROIC14.2%
Return on equity67.9%
Debt / equity5.68
Free cash flow$584.1M
FCF margin3.4%
Share count change−2.0%
Financials
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | 16.9 | 20.9 | 16.1 | 16.4 | 17.0 |
| Operating income | 0.9 | 1.7 | 2.6 | 2.7 | 3.3 |
| Net income | 0.1 | 1.2 | 1.3 | 1.3 | 1.9 |
| Free cash flow | 1.8 | 1.0 | 0.8 | 0.7 | 0.6 |
Recent filings
- 4Insider transaction report
Sep 8, 2026 - 4Insider transaction report
Sep 3, 2026 - 8-KDirector or officer change
Aug 25, 2026 - 10-QQuarterly report for the period ended Jun 30, 2026
Aug 6, 2026 - 8-KResults of operations and financial condition
Aug 6, 2026 - 8-KDirector or officer change
Jul 17, 2026 - 8-KEntry into a material agreement
Jul 6, 2026 - 8-KResults of a shareholder vote
May 22, 2026