FY2025 · ended Dec 31, 2025 · Revenue $17.03B, +3.9% YoY · Filed Feb 19, 2026
Targa Resources Corp. (TRGP) files with the SEC under industry code 4922, Natural Gas Transmission. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $17.0 billion and net income of $1.9 billion. Free cash flow was $584.1 million. As of Jun 30, 2026 it held $132.3 million in cash and investments and $20.4 billion in total debt.
Revenue (TTM)
$16.74B
-2.0% vs year-ago TTM
Net income (TTM)
$2.27B
+38.4% vs year-ago TTM
Operating cash flow (TTM)
$4.29B
+16.4% vs year-ago TTM
Free cash flow (TTM)
$740.90M
+73.3% vs year-ago TTM
EPS (TTM)
$10.52
+50.0% vs year-ago TTM
Dividend per share (TTM)
$4.25
+30.8% vs year-ago TTM
Shares outstanding
214.95M
-1.4% vs prior year
Net cash
$-20.24B
as of Jun 30, 2026
Operating margin
22.9%
FY 2026
Company profile
- Industry
- Natural Gas Transmission (SIC 4922)
- Listed as
- TRGP (NYSE)
- Fiscal year ends
- December 31
- Headquarters
- Houston, TX
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1389170
- Former names
- Targa Resources Corp. (until Sep 17, 2026); Targa Resources Investments Inc. (until Nov 12, 2010)
Other Natural Gas Transmission companies
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2021 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $17.0B | $16.4B | $16.1B | $19.8B | $16.1B |
| Operating income | $3.3B | $2.7B | $2.6B | $1.7B | $864.8M |
| Net income | $1.9B | $1.3B | $1.3B | $1.2B | $71.2M |
| Diluted EPS | $8.49 | $5.74 | $3.66 | $3.88 | -$0.07 |
| Operating cash flow | $3.9B | $3.6B | $3.2B | $2.4B | $2.3B |
| Free cash flow | $584.1M | $683.9M | $826.2M | $1.0B | $1.8B |
| Total assets | $25.2B | $22.7B | $20.7B | $19.6B | $15.2B |
| Stockholders' equity | $3.1B | $2.6B | $2.7B | $2.7B | $2.0B |
| Cash and investments | $166.1M | $157.3M | $141.7M | $219.0M | $158.5M |
| Total debt | $17.9B | $14.6B | $13.3B | $11.8B | $6.7B |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Officer or director change
|
Aug 25, 2026 | Aug 19, 2026 |
| 10-Q | Quarterly report | Aug 6, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations, Regulation FD disclosure
|
Aug 6, 2026 | Aug 6, 2026 |
| 8-K |
Current report
Officer or director change
|
Jul 17, 2026 | Jul 16, 2026 |
| 8-K |
Current report
Material agreement
|
Jul 6, 2026 | Jul 1, 2026 |
| 8-K |
Current report
Shareholder vote results
|
May 22, 2026 | May 21, 2026 |
All 1003 Targa Resources Corp. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.