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TR

Targa Resources Corp.

TRGP Utilities · Utilities
Latest period 2026-06-30 · 37 filings on record
Quarterly TTM Annual
8Q 3Y 5Y 10Y MAX
18-09 → 26-06 32 QUARTERS
SHOWING Discrete quarters as filed — each point is one 10-Q, or a Q4 derived from the 10-K.
Ranked against Utilities · 35 peers

Each 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.

Growth 49th pct

▲+16 over range · as of 2026-06-30

Revenue +4.2% YoY, earnings +21.5% YoY · sector avg 73

Quality 79th pct

▲+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

Safety 69th pct

0 over range · as of 2026-06-30

Net debt 3.5x EBITDA, 0.8x current ratio · sector avg 60

OVERVIEWQoQ Δ

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% CHARTED
Debt / equity 5.16 −11.9%
EPS (diluted) $3.54 +60.2% EBITDA $1.7B +32.6%

Filings

18-09 → 26-06 · following the period bar 29 match
ALL 10-K 10-Q Q1 Q2 Q3 FY SORT NEWEST ↓
Year Q1Q2Q3FY
2026 10-Q 10-Q
2025 10-Q 10-Q 10-Q 10-K
2024 10-Q 10-Q 10-Q 10-K
2023 10-Q 10-Q 10-Q 10-K
2022 10-Q 10-Q 10-Q 10-K
2021 10-Q 10-Q 10-Q 10-K
2020 10-Q 10-Q 10-Q 10-K
2019 10-Q 10-K
10-Q Q2 2026 2026-08-06 Pro → 10-Q Q1 2026 2026-05-07 Pro → 10-K FY 2025 2026-02-19 Pro → 10-Q Q3 2025 2025-11-05 Pro → 10-Q Q2 2025 2025-08-07 Pro → 10-Q Q1 2025 2025-05-01 Pro →
All 29 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 → 10-Q Q2 2023 2023-08-03 Pro → 10-Q Q1 2023 2023-05-04 Pro → 10-K FY 2022 2023-02-22 Pro → 10-Q Q3 2022 2022-11-03 Pro → 10-Q Q2 2022 2022-08-04 Pro → 10-Q Q1 2022 2022-05-05 Pro → 10-K FY 2021 2022-02-24 Pro → 10-Q Q3 2021 2021-11-04 Pro → 10-Q Q2 2021 2021-08-05 Pro → 10-Q Q1 2021 2021-05-06 Pro → 10-K FY 2020 2021-02-18 Pro → 10-Q Q3 2020 2020-11-05 Pro → 10-Q Q2 2020 2020-08-06 Pro → 10-Q Q1 2020 2020-05-07 Pro → 10-K FY 2019 2020-02-20 Pro → 10-Q Q3 2019 2019-11-07 Pro → 10-K FY 2018 2019-03-01 Pro →

Filing-level fact detail is a Pro feature. The grades and figures above are free. See Pro plans

Trends

Quarter-over-quarter, from cached filings
Revenue
Latest$4.4B QoQ+8.4% Periods32
$6.1B$4.0B$2.0B$018-092018-09-3022-092022-09-3026-062026-06-30
Revenue by period
PeriodPeriod end Revenue
18-092018-09-30 $3.0B
18-122018-12-31 $2.6B
19-032019-03-31 $2.3B
19-062019-06-30 $2.0B
19-092019-09-30 $1.9B
19-122019-12-31 $2.5B
20-032020-03-31 $2.0B
20-062020-06-30 $1.5B
20-092020-09-30 $2.1B
20-122020-12-31 $2.6B
21-032021-03-31 $3.6B
21-062021-06-30 $3.4B
21-092021-09-30 $4.5B
21-122021-12-31 $5.4B
22-032022-03-31 $5.0B
22-062022-06-30 $6.1B
22-092022-09-30 $5.4B
22-122022-12-31 $4.6B
23-032023-03-31 $4.5B
23-062023-06-30 $3.4B
23-092023-09-30 $3.9B
23-122023-12-31 $4.2B
24-032024-03-31 $4.6B
24-062024-06-30 $3.6B
24-092024-09-30 $3.9B
24-122024-12-31 $4.4B
25-032025-03-31 $4.6B
25-062025-06-30 $4.3B
25-092025-09-30 $4.2B
25-122025-12-31 $4.1B
26-032026-03-31 $4.1B
26-062026-06-30 $4.4B
Net income
Latest$764.6M QoQ+59.4% Periods32
$764.6M-$86.2M-$912.0M-$1.7B18-092018-09-3022-092022-09-3026-062026-06-30
Net income by period
PeriodPeriod end Net income
18-092018-09-30 -$23.7M
18-122018-12-31 -$88.4M
19-032019-03-31 -$38.9M
19-062019-06-30 -$10.2M
19-092019-09-30 -$47.3M
19-122019-12-31 -$15.1M
20-032020-03-31 -$1.7B
20-062020-06-30 $81.0M
20-092020-09-30 $69.3M
20-122020-12-31 $33.6M
21-032021-03-31 $146.4M
21-062021-06-30 $56.2M
21-092021-09-30 $182.2M
21-122021-12-31 -$313.6M
22-032022-03-31 $88.0M
22-062022-06-30 $596.4M
22-092022-09-30 $193.1M
22-122022-12-31 $318.0M
23-032023-03-31 $497.0M
23-062023-06-30 $329.3M
23-092023-09-30 $220.0M
23-122023-12-31 $299.6M
24-032024-03-31 $275.2M
24-062024-06-30 $298.5M
24-092024-09-30 $387.4M
24-122024-12-31 $350.9M
25-032025-03-31 $270.5M
25-062025-06-30 $629.1M
25-092025-09-30 $478.4M
25-122025-12-31 $545.0M
26-032026-03-31 $479.6M
26-062026-06-30 $764.6M
Operating income
Latest$1.2B QoQ+45.8% Periods32
$1.2B$108.4M-$984.5M-$2.1B18-092018-09-3022-092022-09-3026-062026-06-30
Operating income by period
PeriodPeriod end Operating income
18-092018-09-30 $76.7M
18-122018-12-31 -$80.9M
19-032019-03-31 $61.3M
19-062019-06-30 $113.7M
19-092019-09-30 $41.6M
19-122019-12-31 -$23.7M
20-032020-03-31 -$2.1B
20-062020-06-30 $213.1M
20-092020-09-30 $295.5M
20-122020-12-31 $265.2M
21-032021-03-31 $344.1M
21-062021-06-30 $245.8M
21-092021-09-30 $366.5M
21-122021-12-31 -$91.6M
22-032022-03-31 $295.8M
22-062022-06-30 $451.9M
22-092022-09-30 $430.0M
22-122022-12-31 $551.3M
23-032023-03-31 $836.7M
23-062023-06-30 $649.1M
23-092023-09-30 $505.1M
23-122023-12-31 $635.3M
24-032024-03-31 $639.4M
24-062024-06-30 $627.2M
24-092024-09-30 $728.2M
24-122024-12-31 $700.6M
25-032025-03-31 $543.3M
25-062025-06-30 $1.0B
25-092025-09-30 $836.9M
25-122025-12-31 $917.4M
26-032026-03-31 $846.9M
26-062026-06-30 $1.2B
ZOOM
10-03 26-06

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.

Growth 49 Quality 79 Safety 69
025507510018-092018-09-3022-092022-09-3026-062026-06-30

Hover to read every grade at a period · shared with the trends chart · axis fixed 0–100

Grade history by period
PeriodPeriod end GrowthQualitySafety
18-092018-09-30 not scorednot scorednot scored
18-122018-12-31 not scorednot scorednot scored
19-032019-03-31 not scorednot scorednot scored
19-062019-06-30 not scorednot scorednot scored
19-092019-09-30 not scorednot scorednot scored
19-122019-12-31 not scorednot scorednot scored
20-032020-03-31 not scorednot scorednot scored
20-062020-06-30 not scorednot scorednot scored
20-092020-09-30 not scorednot scorednot scored
20-122020-12-31 not scorednot scorednot scored
21-032021-03-31 not scorednot scorednot scored
21-062021-06-30 not scorednot scorednot scored
21-092021-09-30 not scorednot scorednot scored
21-122021-12-31 not scorednot scorednot scored
22-032022-03-31 not scorednot scorednot scored
22-062022-06-30 not scorednot scorednot scored
22-092022-09-30 not scorednot scorednot scored
22-122022-12-31 not scorednot scorednot scored
23-032023-03-31 not scorednot scorednot scored
23-062023-06-30 not scorednot scorednot scored
23-092023-09-30 335269
23-122023-12-31 466778
24-032024-03-31 446365
24-062024-06-30 406458
24-092024-09-30 536266
24-122024-12-31 576373
25-032025-03-31 176358
25-062025-06-30 917766
25-092025-09-30 516369
25-122025-12-31 477767
26-032026-03-31 436366
26-062026-06-30 497969