Targa Resources

Energy Oil & Gas Storage & Transportation Houston, Texas Last filing Feb 19, 2026 · FY2025

Balance Sheet

Assets, liabilities, and equity

30 accounts · 5 years

Account	2025	2024	2023	2022	2021
Statement
BS Assets Cash	$166.1M	$157.3M	$141.7M	$219.0M	$158.5M
BS Assets Accts Receivable	$1.5B	$1.6B	$1.5B	$1.4B	$1.3B
BS Assets Inventory	$429.3M	$334.3M	$371.5M	$393.8M	$153.4M
BS Assets Prepaid Expenses	$138.0M	$124.6M	$98.5M	$155.5M	$82.9M
BS Assets Other Current Assets	$138.0M	$124.6M	$98.5M	$155.5M	$82.9M
BS Assets Total Current	$2.4B	$2.3B	$2.2B	$2.4B	$1.8B
BS Assets PPE	$20.5B	$18.1B	$15.8B	$14.2B	$11.7B
BS Assets Intangible Assets	$1.7B	$2.0B	$2.4B	$2.7B	$1.1B
BS Assets LT Investments	$307.1M	$193.3M	$146.3M	$131.3M	$586.5M
BS Assets Other Noncurrent	$327.4M	$179.1M	$140.6M	$98.4M	$81.7M
BS Assets Total	$25.2B	$22.7B	$20.7B	$19.6B	$15.2B
BS Liab Accts Payable	$1.9B	$2.0B	$1.6B	$1.4B	$1.4B
BS Liab Accrued Liab	$358.6M	$336.0M	$281.7M	$273.3M	$272.2M
BS Liab Op Lease Current	$93.1M	$25.2M	$21.8M	$14.4M	$11.7M
BS Liab Other Current	$102.5M	$77.7M	$7.9M	$172.9M	$0
BS Liab Total Current	$3.5B	$3.2B	$2.8B	$3.1B	$2.3B
BS Liab Long Term Debt	$17.4B	$14.2B	$13.0B	$11.5B	$6.6B
BS Liab Op Lease Noncurrent	$260.4M	$90.4M	$56.5M	$28.6M	$34.5M
BS Liab Deferred Tax Liab	$1.4B	$872.1M	$535.8M	$327.7M	$136.0M
BS Liab Other Noncurrent	$395.0M	$392.3M	$415.1M	$341.2M	$301.6M
BS Liab Total	$3.5B	$3.2B	$2.8B	$3.1B	$2.3B
BS Equity Preferred Stock	$0	$0	$0	$0	$0
BS Equity Common Stock	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K
BS Equity APIC	$3.1B	$3.1B	$3.1B	$3.7B	$4.3B
BS Equity Retained Earnings	$2.3B	$1.2B	$492.0M	$-626.8M	$-1.8B
BS Equity Treasury Stock	$2.4B	$1.7B	$896.9M	$464.7M	$204.1M
BS Equity AOCI	$113.8M	$27.5M	$85.6M	$54.7M	$-230.9M
BS Equity NCI	$130.3M	$1.8B	$1.9B	$2.3B	$3.2B
BS Equity Total	$3.1B	$2.6B	$2.7B	$2.7B	$2.0B
BS Equity Total Liab and Equity	$25.2B	$22.7B	$20.7B	$19.6B	$15.2B

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $17.0B

Operating income $3.3B

Net income $1.9B

Account	2025	2024	2023	2022	2021
Statement
IS Revenue Total	$17.0B	$16.4B	$16.1B	$20.9B	$16.9B
IS Expense COGS	$10.5B	$10.7B	$10.7B	$16.9B	$13.7B
IS Expense SGA	$406.0M	$384.9M	$348.7M	$309.7M	$273.2M
IS Expense DA	$1.5B	$1.4B	$1.3B	$1.1B	$870.6M
IS Expense SBC	$69.5M	$63.2M	$62.4M	$57.5M	$59.2M
IS Expense Total Opex	$1.3B	$1.2B	$1.1B	$912.8M	$747.0M
IS Operating Income	$3.3B	$2.7B	$2.6B	$1.7B	$864.8M
IS Interest Expense	$16.1M	$14.5M	$14.0M	$3.5M	$1.1M
IS Other Nonop Inc Exp	$-3.8M	$400.0K	$-4.9M	$-15.1M	$500.0K
IS Pre Tax Income	$2.5B	$1.9B	$1.9B	$1.7B	$436.9M
IS Tax Expense	$529.7M	$384.5M	$363.2M	$131.8M	$14.8M
IS net Income	$1.9B	$1.3B	$1.3B	$1.2B	$71.2M
IS Comprehensive Income	$2.0B	$1.3B	$1.4B	$1.5B	$-17.9M
IS EPS Basic	$9	$6	$4	$4	$-0
IS EPS Diluted	$8	$6	$4	$4	$-0
IS Shares Basic	$216.1M	$220.2M	$224.6M	$227.3M	$228.6M
IS Shares Diluted	$216.9M	$221.3M	$226.0M	$231.1M	$228.6M

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 5 years

Account	2025	2024	2023	2022	2021
Statement
CF Ops net Income	$1.9B	$1.3B	$1.3B	$1.2B	$71.2M
CF Ops DA	$1.5B	$1.4B	$1.3B	$1.1B	$870.6M
CF Ops SBC	$69.5M	$63.2M	$62.4M	$57.5M	$59.2M
CF Ops Deferred Tax	$516.6M	$367.0M	$349.6M	$125.1M	$12.1M
CF Ops Working Capital	$89.5M	$-33.5M	$-36.0M	$236.2M	$-40.6M
CF Ops net Cash	$3.9B	$3.6B	$3.2B	$2.4B	$2.3B
CF Inv Capex	$3.3B	$3.0B	$2.4B	$1.3B	$505.1M
CF Inv Acquisitions	$122.8M	—	—	$3.5B	—
CF Inv Other	$-27.1M	$-1.9M	$-3.7M	$1.6M	$-100.0K
CF Inv net Cash	$-3.6B	$-3.0B	$-2.4B	$-4.1B	$-473.2M
CF Fin Debt Issuance	$5.2B	$999.4M	$3.7B	$2.7B	$1.0B
CF Fin Debt Repayment	$705.2M	$9.9M	$290.0M	$1.5B	$1.1B
CF Fin Share Repurchases	$641.8M	$754.7M	$373.7M	$224.8M	$40.0M
CF Fin Tax Withholding	$67.3M	$56.4M	$55.8M	$35.8M	—
CF Fin Other	$-6.4M	$-2.6M	—	—	—
CF Fin net Cash	$-266.6M	$-612.8M	$-888.1M	$1.8B	$-1.9B
CF FX Effect	$166.1M	$157.3M	$141.7M	$219.0M	$158.5M
CF net Change	$8.8M	$15.6M	$-77.3M	$60.5M	$-84.3M
CF Cash Begin	$166.1M	$157.3M	$141.7M	$219.0M	$158.5M
CF Cash End	$166.1M	$157.3M	$141.7M	$219.0M	$158.5M

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Assets, liabilities, and equity

Revenue, expense, and profitability

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