Targa Resources Corp. splits its revenue into 8 lines in its filings. The largest line in fiscal 2025, which ended Dec 31, 2025 was Natural Gas Liquids Reserves at $12.1 billion, 71% of the total.
USD in millions. The percent under a figure is the change from the year before.
| Line |
FY 2026
Jun 30, 2026
|
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
|
FY 2020
Dec 31, 2020
|
FY 2019
Dec 31, 2019
|
FY 2018
Dec 31, 2018
|
FY 2017
Dec 31, 2017
|
FY 2016
Dec 31, 2016
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
16,742
|
17,028
|
16,382
|
16,060
|
19,821
|
16,093
|
6,874
|
7,398
|
9,351
|
—
|
—
|
| Natural Gas Liquids Reserves |
12,613
+0.8%
share 75.3%
|
12,080
-2.4%
share 70.9%
|
12,372
+16.9%
share 75.5%
|
10,580
share 65.9%
|
13,785
+166.1%
share 69.5%
|
12,211
+135.7%
share 75.9%
|
5,181
-1.0%
share 75.4%
|
5,234
-24.0%
share 70.7%
|
6,887
+26.3%
share 73.6%
|
5,454
|
—
|
| Natural Gas Reserves |
1,057
-38.8%
share 6.3%
|
2,036
+64.0%
share 12.0%
|
1,241
-48.7%
share 7.6%
|
2,421
share 15.1%
|
5,470
+302.5%
share 27.6%
|
3,524
+159.3%
share 21.9%
|
1,359
+2.8%
share 19.8%
|
1,322
-27.0%
share 17.9%
|
1,810
-9.8%
share 19.4%
|
2,006
|
—
|
| Gathering And Processing Fees |
2,033
+18.6%
share 12.1%
|
1,793
+9.8%
share 10.5%
|
1,633
+21.6%
share 10.0%
|
1,343
share 8.4%
|
1,137
share 5.7%
|
730
share 4.5%
|
—
|
722
+3.5%
share 9.8%
|
698
+33.4%
share 7.5%
|
523
|
—
|
| Storage Terminaling And Export |
521
+0.4%
share 3.1%
|
497
-0.2%
share 2.9%
|
498
+13.0%
share 3.0%
|
441
share 2.7%
|
372
-7.4%
share 1.9%
|
380
-5.5%
share 2.4%
|
402
+12.8%
share 5.8%
|
356
+13.9%
share 4.8%
|
313
+4.1%
share 3.3%
|
301
|
—
|
| Oil And Condensate |
555
+18.3%
share 3.3%
|
448
-14.4%
share 2.6%
|
524
+0.8%
share 3.2%
|
520
share 3.2%
|
565
+114.1%
share 2.9%
|
358
+35.8%
share 2.2%
|
264
-63.1%
share 3.8%
|
716
+56.4%
share 9.7%
|
458
+133.6%
share 4.9%
|
196
|
—
|
| NGL Transportation Fractionation And Services |
349
+15.9%
share 2.1%
|
312
+4.4%
share 1.8%
|
298
+14.3%
share 1.8%
|
261
share 1.6%
|
285
+74.8%
share 1.4%
|
191
+16.9%
share 1.2%
|
163
-3.7%
share 2.4%
|
169
+9.6%
share 2.3%
|
155
-9.4%
share 1.7%
|
171
|
—
|
| Petroleum Products |
—
|
—
|
—
|
—
|
—
|
—
|
70
-44.7%
share 1.0%
|
126
-35.6%
share 1.7%
|
196
+35.5%
share 2.1%
|
145
|
—
|
| Midstream Services Other |
18
-56.9%
share 0.1%
|
23
-61.7%
share 0.1%
|
61
+13.1%
share 0.4%
|
54
share 0.3%
|
69
+43.5%
share 0.3%
|
47
-3.3%
share 0.3%
|
48
+66.0%
share 0.7%
|
29
-26.5%
share 0.4%
|
40
-42.6%
share 0.4%
|
69
|
—
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. The first column adds the latest year-to-date segment amount to the last fiscal year and subtracts the year-ago year-to-date amount. More on our methodology.
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
Source: SEC EDGAR filings. This is company-reported data, not investment advice.