Targa Resources Corp.

Natural Gas Transmission·HOUSTON, TX·FY end 12/31·CIK 1389170

CEO Pay Ratio

145:1

Matthew J. Meloy

CEO Total Comp

$21.5M

Matthew J. Meloy

Median Employee

$147,880

Revenue

$17.0B

FY 2025

Net Income

$1.9B

FY 2025

Free Cash Flow

$584.1M

FY 2025

Net Margin

11.3%

Insider Net (180d)

-$25.5M

0 buys / 13 sales

CEO Pay Accountability

CEO comp as % of net income

1.12%

For every $1,000 of profit, $11.17 flows to the CEO.

CEO comp as % of buybacks

—

No buyback data for the most recent fiscal year.

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2021	FY 2020	Trend
Revenue	$17.0B	$16.4B	$16.1B	$20.9B	$8.3B
Gross Profit	—	—	—	—	—	—
Operating Income	$3.3B	$2.7B	$2.6B	$1.7B	-$1.3B
Net Income	$1.9B	$1.3B	$1.3B	$1.2B	-$1.6B
Operating CF	$3.9B	$3.6B	$3.2B	$2.4B	$1.7B
Capex	$3.3B	$3.0B	$2.4B	$1.3B	$951.6M
Free Cash Flow	$584.1M	$683.9M	$826.2M	$1.0B	$792.9M
Buybacks	—	—	—	—	—	—
Dividends	—	—	—	—	—	—

Gross Margin	—	—	—	—	—	—
Operating Margin	19.6%	16.5%	16.4%	8.3%	-15.8%
Net Margin	11.3%	8.0%	8.4%	5.7%	-18.8%
FCF Margin	3.4%	4.2%	5.1%	5.0%	9.6%
R&D / Revenue	—	—	—	—	—	—
Effective Tax	21.3%	19.8%	18.7%	7.9%	15.8%
Debt / Equity	5.68	5.47	4.73	4.33	2.92
Buybacks / FCF	—	—	—	—	—	—

FY 2025

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
Matthew J. MeloyChief Executive Officer	$1.2M	$16.3M	—	$4.0M	$34.0K	$21.5M
Jennifer R. KnealePresident	$759.2K	$6.3M	—	$1.8M	$31.9K	$8.9M
D. Scott PryorPresident – Logistics	$670.8K	$4.3M	—	$1.3M	$31.4K	$6.3M
Patrick J. McDoniePresident – Gathering	$670.8K	$4.3M	—	$1.3M	$31.4K	$6.3M
Robert M. MuraroChief Commercial	$670.8K	$4.3M	—	$1.3M	$31.4K	$6.3M
William A. Byers	$616.7K	$3.5M	—	$1.2M	$31.1K	$5.4M