Targa Resources, Inc.: stock overview

TRGPNYSEEnergy · Natural Gas Transmission

Price

$297.33

November 13, 2026Market cap $63.9B

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  • The full history: 10 fiscal years, from 2016
  • The estimated fair value, with its range and its certainty
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In short

Targa Resources had revenue of $18.2B over the last 12 months and net income of $2.4B, a net margin of 13.5%. Revenue grew by 15.6% a year on average over the last 5 years. At $297.33 the shares trade at a P/E of 26.1, against a median of 22.7 over the last 4 fiscal years. It has net debt of $19.1B. It pays a dividend yielding 1.60%.

From its SEC filings (latest fiscal year to December 31, 2025) and the price of November 13, 2026.

Its SEC filings
Market cap
$63.9B
215M shares
P/E
26.1
Today26.1
Median22.7
Revenue, 12 months
$18.2B
+15.6% a year over 5 years
Net margin
13.5%
2025: 11.3%, above 46% of its industry

Worth knowing

What a holder would want to hear from the company's SEC filings of the last three years. Each with its filing, without comment.

3 fiscal years in figures

Each fiscal year's figures as the company filed them, and the share price at its end.

2023–2025 fiscal years

+3.0% a year over 2 years

  • 202510-K
    Revenue$17.0B
  • 202410-K
    Revenue$16.4B
  • 202310-K
    Revenue$16.1B

Fiscal years in figures

TRGP's revenue, profit, cash flow and dividend with each year-end price, from 2016 to 2022, 7 more fiscal years

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Key figures

The company's current figures in five groups. Each term is explained behind its ⓘ.

Valuation

Market cap 3-year median: $38.9B
$63.9B
Enterprise value 
$83.1B
P/E 3-year median: 23.7
26.1
EV / EBIT 
20.3
EV / Revenue 
4.6
P/B 3-year median: 12.9
16.8
FCF yield 3-year median: 1.8%
1.5%
Earnings yield 3-year median: 4.2%
3.8%

Profitability

Gross margin 
41.8%
Operating margin 
22.5%
Net margin 3-year median: 8.4%
13.5%
ROIC 
15.2%
ROIC, 5-year average 
11.7%
ROE 
74.7%

Growth

Revenue, yearly change 
+4.0%
EPS, yearly change 
+47.9%
FCF, yearly change 
-14.6%
Revenue, average a year 
+15.6%

The yearly change compares FY2025 with FY2024.

Balance sheet

Cash 
$143M
Total debt 
$19.3B
Net debt 
$19.1B
Net debt / EBITDA 
3.4x
Interest cover 
–
Current ratio 
0.74

Balance sheet of September 30, 2026.

Returns to shareholders

Dividend yield 3-year median: 2.0%
1.60%
Buybacks 
1.00%
Total returned 
2.60%
Shares, yearly change 
-1.5%
Valuation against its own pastEach fiscal year's P/E, P/FCF and P/B beside today's, and the DCF calculator for the company.Valuation

Against its industry

Where its margins and returns stood in fiscal 2025 among the SEC filers of its industry (SIC code 49).

Operating margin

19.6%

Above 46% of the 117 companies in its industry, and 82% of all.

Net margin

11.3%

Above 46% of the 122 companies in its industry, and 68% of all.

ROE

62.7%

Above 99% of the 103 companies in its industry, and 97% of all.

ROA

7.6%

Above 94% of the 122 companies in its industry, and 82% of all.

Revenue growth

4.0%

Above 27% of the 122 companies in its industry, and 42% of all.

From the yearly figures every company files with the SEC, for those with revenue of at least $25 million. The industry is the first two digits of the SIC code.

The company at the SEC

How it is registered and when its fiscal year ends.

Name at the SEC
Targa Resources Corp.
CIK
1389170
Exchange
NYSE
Industry (SIC)
4922 · Natural Gas Transmission
Fiscal year ends
December 31
Latest annual report
December 31, 2025
Reporting currency
USD
Shares
215M

Other companies: Energy

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The full analysis

What do Targa Resources's filings show?

These are Targa Resources's figures. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

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  • Earnings quality, debt and red flags
  • Insider and institutional moves
  • The case for and the case against

Questions about TRGP

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What is TRGP's market cap?

Targa Resources, Inc.'s market cap is $63.9B, at a price of $297.33 on November 13, 2026 and 215M shares.

What is TRGP's P/E?

TRGP's P/E is 26.1, on earnings per share of $11.30 over the last 12 months. The median over the last 4 fiscal years was 22.7.

How much revenue does TRGP have?

Targa Resources had revenue of $18.2B over the last 12 months. Over the last 5 years it changed by +15.6% a year on average.

Does TRGP pay a dividend?

Yes. Targa Resources paid $4.75 per share over the last 12 months, a yield of 1.60% at today's price. All the figures are in the Dividend section.

Where do the figures come from?

From Targa Resources, Inc.'s SEC filings (10-K and 10-Q) and the share price. They hold no analyst estimates and no score, and they are not a recommendation.

Related pages

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.