Targa Resources Corp.
Company Stats
- Market Cap
- $58.0B
- as of Sep 30, 2026
- Enterprise Value
- $74.3B
- Shares Outstanding
- 214.4M
- Free Float
- 98.6%
Income Statement
- Revenue
- $17.0B
- Operating Income
- $3.3B
- Net Income
- $1.9B
- EBITDA
- $4.8B
- Revenue Growth, 3Y
- -6.6%
- FCF Margin, 3Y Avg
- 4.2%
- FCF Margin, Worst Year
- 3.4%
Cash Flow
- Free Cash Flow
- $584.1M
- FCF Yield
- 1.0%
- Owner FCF Yield
- 0.9%
Balance Sheet
- Cash & Equivalents
- $166.1M
- Total Debt
- $16.5B
- Net Debt
- $16.4B
- Net Debt / EBITDA
- 3.37x
- EV / EBITDA
- 15.33x
- Net Debt / EBIT
- 4.91x
Returns & Capital
- Dividends Paid
- $815.1M
- Dividend Yield
- 1.4%
- Dividend Payout, 3Y Avg
- 40.0%
- Share Repurchases
- $641.8M
- Buyback Yield, 3Y Avg
- 1.0%
- SBC, 3Y Avg
- $65.0M
Cash Flow by Year
| Year | Revenue | FCF | Margin |
|---|---|---|---|
| FY2025 | $17.0B | $584.1M | 3.4% |
| FY2024 | $16.4B | $683.9M | 4.2% |
| FY2023 | $16.1B | $826.2M | 5.1% |
| FY2022 | $20.9B | $1.0B | 5.0% |
| FY2021 | $16.9B | $1.8B | 10.6% |
Annual filing data through FY ended December 31, 2025; shares and float as of October 11, 2026. Yields and enterprise value use the calculated market cap above, at its as-of date. Ratios are our calculations from reported figures.
Earnings
Other Coverage
October 29, 2026
Theme Survey
Energy Sector: Pipeline Enters Service, LNG Starts Production
October 7, 2026
Theme Survey
Energy Sector: War Warnings Sharpen, Gas Projects Enter Service
September 28, 2026
QBook
Stronger demand supports expansion as pricing diverges
August 14, 2026
Industry Earnings Roundup
Energy Earnings: Demand Runs Hot, Capex Stays Disciplined
Energy Sector: Pipeline Enters Service, LNG Starts Production
October 7, 2026
Theme Survey
Energy Sector: War Warnings Sharpen, Gas Projects Enter Service
September 28, 2026
QBook
Stronger demand supports expansion as pricing diverges
August 14, 2026
Industry Earnings Roundup
Energy Earnings: Demand Runs Hot, Capex Stays Disciplined