Targa Resources

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

                    Revenue
                    FY2025
                
$17.0B
                    3y CAGR -6.6%
                    
                    P37
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.9B
                    Net margin +11.3%
                    
                    P53
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$25.2B
                    ROA +7.6%
                    
                    P82
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$3.9B
                    FCF margin +3.4%
                    
                    P8
                    
                    n/a

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

30 accounts · 1 year

Total assets $25.2B

Total liabilities $3.5B

Shareholders equity $3.1B

Account	2025	Trend
Assets
Cash and Cash Equivalents	$166.1M
Accounts Receivable	$1.5B
Inventory	$429.3M
Prepaid Expenses	$138.0M
Other Current Assets	$138.0M
Total Current Assets	$2.4B
Property,Plant and Equipment	$20.5B
Intangible Assets	$1.7B
Long Term Investments	$307.1M
Other Noncurrent Assets	$327.4M
Total Assets	$25.2B
Liabilities
Accounts Payable	$1.9B
Accrued Liabilities	$358.6M
Operating Lease Liabilities	$93.1M
Other Current Liabilities	$102.5M
Total Current Liabilities	$3.5B
Long Term Debt	$17.4B
Operating Lease Liabilities Noncurrent	$260.4M
Deferred Tax Liabilities	$1.4B
Other Noncurrent Liabilities	$395.0M
Total Liabilities	$3.5B
Equity
Preferred Stock	$0
Common Stock	$200.0K
Additional Paid In Capital	$3.1B
Retained Earnings	$2.3B
Treasury Stock	$2.4B
Accumulated Other Comprehensive Income	$113.8M
Noncontrolling Interest	$130.3M
Total Stockholders Equity	$3.1B
Total Liabilitiesand Equity	$25.2B

Income Statement

Revenue, expense, and profitability

17 accounts · 1 year

Revenue $17.0B

Operating income $3.3B

Net income $1.9B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	$17.0B
Expenses Cost of Revenue	$10.5B
Expenses Selling,General and Administrative	$406.0M
Expenses Depreciation and Amortization	$1.5B
Expenses Share Based Compensation	$69.5M
Expenses Operating Expenses	$1.3B
Other Income Expense Operating Income	$3.3B
Other Income Expense Interest Expense	$16.1M
Other Income Expense Other Income/expense	$-3.8M
Other Income Expense Income Before Tax	$2.5B
Income Tax Income Tax Expense	$529.7M
net Income net Income	$1.9B
net Income Comprehensive Income	$2.0B
Earnings Per Share Basic Eps	$9
Earnings Per Share Diluted Eps	$8
Earnings Per Share Weighted Average Shares Basic	$216.1M
Earnings Per Share Weighted Average Shares Diluted	$216.9M

Cash Flow Statement

Operating, investing, and financing flows

20 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 Income	$1.9B
Operating Activities Depreciation and Amortization	$1.5B
Operating Activities Stock Based Compensation	$69.5M
Operating Activities Deferred Income Taxes	$516.6M
Operating Activities Changes In Operating Assets and Liabilities	$89.5M
Operating Activities net Cash From Operating Activities	$3.9B
Investing Activities Capital Expenditures	$3.3B
Investing Activities Business Acquisitions	$122.8M
Investing Activities Other Investing Activities	$-27.1M
Investing Activities net Cash From Investing Activities	$-3.6B
Financing Activities Proceeds From Debt	$5.2B
Financing Activities Repayment of Debt	$705.2M
Financing Activities Repurchase of Common Stock	$641.8M
Financing Activities Tax Withholding On Stock Based Compensation	$67.3M
Financing Activities Other Financing Activities	$-6.4M
Financing Activities net Cash From Financing Activities	$-266.6M
Cash Reconciliation Effect of Exchange Rate On Cash	$166.1M
Cash Reconciliation net Change In Cash	$8.8M
Cash Reconciliation Cash At Beginning of Period	$166.1M
Cash Reconciliation Cash At End of Period	$166.1M

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	+3.4%
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	1.16x
Interest coverage	206.91x
Efficiency
Asset turnover	0.68x
Cash conversion cycle	-19d

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Targa Resources

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Margins, returns, liquidity, leverage, efficiency

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