Targa Resources

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

                    Revenue
                    FY2025
                
$17.0B
                    3y CAGR -6.6%
                    
                    P41
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.9B
                    Net margin +11.3%
                    
                    P59
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$25.2B
                    ROA +7.6%
                    
                    P89
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$3.9B
                    FCF margin +2.2%
                    
                    P13
                    
                    n/a

17 yrs · FY2009–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

20 accounts · 1 year

Total assets $25.2B

Total liabilities ~$22.2B

Shareholders equity $3.1B

Account	2025	Trend
Assets
Cash and Cash Equivalents	—
Accounts Receivable	—
Other Current Assets	—
Total Current Assets	—
Property,Plant and Equipment	—
Other Noncurrent Assets	—
Total Assets	—
Liabilities
Current Portion of Long Term Debt	—
Other Current Liabilities	—
Total Current Liabilities	—
Long Term Debt	—
Other Noncurrent Liabilities	—
Equity
Total Stockholders Equity	—
Common Stock	—
Additional Paid In Capital	—
Retained Earnings	—
Treasury Stock	—
Accumulated Other Comprehensive Income	—
Noncontrolling Interest	—
Total Liabilitiesand Equity	—

Income Statement

Revenue, expense, and profitability

13 accounts · 1 year

Revenue $17.0B

Operating income $3.3B

Net income $1.9B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	—
Expenses Cost of Revenue	—
Expenses Depreciation and Amortization	—
Other Income Expense Operating Income	—
Other Income Expense Interest Expense	—
Other Income Expense Other Income/expense	—
Other Income Expense Income Before Tax	—
Income Tax Income Tax Expense	—
net Income Other Items Below Tax	—
net Income net Income	—
Earnings Per Share Basic Eps	—
Earnings Per Share Diluted Eps	—
Earnings Per Share Weighted Average Shares Diluted	—

Cash Flow Statement

Operating, investing, and financing flows

15 accounts · 1 year

Operating cash flow $3.9B

Investing cash flow $-3.6B

Financing cash flow $-266.6M

Account	2025	Trend
CashFlow
Operating Activities net Cash From Operating Activities	—
Operating Activities net Income	—
Operating Activities Depreciation and Amortization	—
Operating Activities Stock Based Compensation	—
Operating Activities Other Non Cash Items	—
Investing Activities Capital Expenditures	—
Investing Activities Other Investing Activities	—
Investing Activities net Cash From Investing Activities	—
Financing Activities Proceeds From Debt	—
Financing Activities Repayment of Debt	—
Financing Activities Dividends Paid	—
Financing Activities Repurchase of Common Stock	—
Financing Activities Other Financing Activities	—
Financing Activities net Cash From Financing Activities	—
Cash Reconciliation net Change In Cash	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+38.3%
Operating margin	+19.6%
Net margin	+11.3%
FCF margin	+2.2%
Growth
Revenue CAGR (3y)	-6.6%
Returns
ROE	+62.7%
ROA	+7.6%
ROIC	+12.9%
Liquidity
Current ratio	0.67x
Quick ratio	0.46x
Leverage
D/E	7.22x
Interest coverage	3.91x
Efficiency
Asset turnover	0.68x
Cash conversion cycle	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Targa Resources

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

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Assets, liabilities, and equity

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