Targa Resources Corp.
TRGP Utilities · UtilitiesEach grade is a single reported quarter's assessment, never an average — a card shows the grade at the newest quarter in view, so it follows the period and range controls above. Latest scored quarter: 2026-06-30.
▲+16 over range · as of 2026-06-30
Revenue +4.2% YoY, earnings +21.5% YoY · sector avg 73
▲+27 over range · as of 2026-06-30
17.2% net margin, 60% return on equity, 4% free-cash-flow margin, profitable in 8 of last 8 quarters · sector avg 51
0 over range · as of 2026-06-30
Net debt 3.5x EBITDA, 0.8x current ratio · sector avg 60
Latest quarter · ending 2026-06-30 · green = improving · click a row to chart it
Revenue $4.4B +8.4% Gross margin 48.2% +6.6pp Operating margin 27.8% +7.1pp Net margin 17.2% +5.5pp Net income $764.6M +59.4%Filings
23-09 → 26-06 · following the period bar 12 match| Year | Q1 | Q2 | Q3 | FY |
|---|---|---|---|---|
| 2026 | 10-Q Q1 2026 | 10-Q Q2 2026 | no filing | no filing |
| 2025 | 10-Q Q1 2025 | 10-Q Q2 2025 | 10-Q Q3 2025 | 10-K FY 2025 |
| 2024 | 10-Q Q1 2024 | 10-Q Q2 2024 | 10-Q Q3 2024 | 10-K FY 2024 |
| 2023 | no filing | no filing | 10-Q Q3 2023 | 10-K FY 2023 |
All 12 filings
10-K FY 2024 2025-02-20 Pro → 10-Q Q3 2024 2024-11-05 Pro → 10-Q Q2 2024 2024-08-01 Pro → 10-Q Q1 2024 2024-05-02 Pro → 10-K FY 2023 2024-02-15 Pro → 10-Q Q3 2023 2023-11-02 Pro →Filing-level fact detail is a Pro feature. The grades and figures above are free. See Pro plans
Trends
| Period | Period end | Revenue |
|---|---|---|
| 23-09 | 2023-09-30 | $3.9B |
| 23-12 | 2023-12-31 | $4.2B |
| 24-03 | 2024-03-31 | $4.6B |
| 24-06 | 2024-06-30 | $3.6B |
| 24-09 | 2024-09-30 | $3.9B |
| 24-12 | 2024-12-31 | $4.4B |
| 25-03 | 2025-03-31 | $4.6B |
| 25-06 | 2025-06-30 | $4.3B |
| 25-09 | 2025-09-30 | $4.2B |
| 25-12 | 2025-12-31 | $4.1B |
| 26-03 | 2026-03-31 | $4.1B |
| 26-06 | 2026-06-30 | $4.4B |
| Period | Period end | Net income |
|---|---|---|
| 23-09 | 2023-09-30 | $220.0M |
| 23-12 | 2023-12-31 | $299.6M |
| 24-03 | 2024-03-31 | $275.2M |
| 24-06 | 2024-06-30 | $298.5M |
| 24-09 | 2024-09-30 | $387.4M |
| 24-12 | 2024-12-31 | $350.9M |
| 25-03 | 2025-03-31 | $270.5M |
| 25-06 | 2025-06-30 | $629.1M |
| 25-09 | 2025-09-30 | $478.4M |
| 25-12 | 2025-12-31 | $545.0M |
| 26-03 | 2026-03-31 | $479.6M |
| 26-06 | 2026-06-30 | $764.6M |
| Period | Period end | Operating income |
|---|---|---|
| 23-09 | 2023-09-30 | $505.1M |
| 23-12 | 2023-12-31 | $635.3M |
| 24-03 | 2024-03-31 | $639.4M |
| 24-06 | 2024-06-30 | $627.2M |
| 24-09 | 2024-09-30 | $728.2M |
| 24-12 | 2024-12-31 | $700.6M |
| 25-03 | 2025-03-31 | $543.3M |
| 25-06 | 2025-06-30 | $1.0B |
| 25-09 | 2025-09-30 | $836.9M |
| 25-12 | 2025-12-31 | $917.4M |
| 26-03 | 2026-03-31 | $846.9M |
| 26-06 | 2026-06-30 | $1.2B |
| Period | Period end | EBITDA |
|---|---|---|
| 23-09 | 2023-09-30 | $836.4M |
| 23-12 | 2023-12-31 | $976.7M |
| 24-03 | 2024-03-31 | $979.9M |
| 24-06 | 2024-06-30 | $975.8M |
| 24-09 | 2024-09-30 | $1.1B |
| 24-12 | 2024-12-31 | $1.1B |
| 25-03 | 2025-03-31 | $910.9M |
| 25-06 | 2025-06-30 | $1.4B |
| 25-09 | 2025-09-30 | $1.2B |
| 25-12 | 2025-12-31 | $1.3B |
| 26-03 | 2026-03-31 | $1.3B |
| 26-06 | 2026-06-30 | $1.7B |
Grade history
Point-in-time: each period shows the grade of the quarter it ends at — grades are never summed or averaged across a window.
Hover to read every grade at a period · shared with the trends chart · axis fixed 0–100
| Period | Period end | Growth | Quality | Safety |
|---|---|---|---|---|
| 23-09 | 2023-09-30 | 33 | 52 | 69 |
| 23-12 | 2023-12-31 | 46 | 67 | 78 |
| 24-03 | 2024-03-31 | 44 | 63 | 65 |
| 24-06 | 2024-06-30 | 40 | 64 | 58 |
| 24-09 | 2024-09-30 | 53 | 62 | 66 |
| 24-12 | 2024-12-31 | 57 | 63 | 73 |
| 25-03 | 2025-03-31 | 17 | 63 | 58 |
| 25-06 | 2025-06-30 | 91 | 77 | 66 |
| 25-09 | 2025-09-30 | 51 | 63 | 69 |
| 25-12 | 2025-12-31 | 47 | 77 | 67 |
| 26-03 | 2026-03-31 | 43 | 63 | 66 |
| 26-06 | 2026-06-30 | 49 | 79 | 69 |