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TRGPNYSESEC EDGAREDGAR

Targa Resources Corp.

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

Overview Financials Compensation Governance Insiders Filings

Financials

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	—	—	—	—	—	—

Peer comparison

Natural Gas Transmission · 2 peers

CEO Pay Ratio

TRGP

145:1

KMI

91:1

EPD

92:1

CEO total comp

TRGP

$21M

KMI

$12M

EPD

$1M

Net Margin

TRGP

11.3%

KMI

18.0%

EPD

11.0%