Targa Resources financials
$273.49−1.42%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.44B | $4.09B | $4.06B | $4.15B | $4.26B | $4.56B | $4.41B | $3.85B | $3.56B | $4.56B | $4.24B | $3.90B |
| Gross profit | $2.14B | $1.70B | $1.75B | $1.64B | $1.82B | $1.30B | $1.48B | $1.49B | $1.36B | $1.34B | $1.34B | $1.21B |
| Gross margin | 48.2% | 41.5% | 43.1% | 39.6% | 42.8% | 28.6% | 33.7% | 38.6% | 38.3% | 29.5% | 31.6% | 31.0% |
| Operating income | $1.23B | $846.9M | $887.1M | $836.9M | $1.03B | $543.3M | $700.1M | $728.2M | $627.0M | $639.4M | $635.3M | $505.1M |
| Net income | $760.6M | $479.6M | $542.0M | $475.5M | $625.1M | $200.0M | $315.9M | $384.5M | $296.2M | $275.2M | $272.6M | $220.0M |
| Net margin | 17.1% | 11.7% | 13.4% | 11.5% | 14.7% | 4.4% | 7.2% | 10.0% | 8.3% | 6.0% | 6.4% | 5.6% |
| Diluted EPS | $3.54 | $2.21 | $2.51 | $2.20 | $2.87 | $0.91 | $1.44 | $1.75 | $1.33 | $1.22 | $1.22 | $0.97 |
| EBITDA | $1.69B | $1.27B | $1.28B | $1.22B | $1.41B | $910.9M | $1.08B | $1.08B | $975.6M | $979.9M | $635.3M | $836.4M |
| Operating cash flow | $1.44B | $739.5M | $1.51B | $599.2M | $858.3M | $954.4M | $1.33B | $540.9M | $904.5M | $876.4M | $957.7M | $407.3M |
| Free cash flow | $431.2M | -$160.0M | $542.3M | -$72.6M | -$47.8M | $162.2M | $601.0M | -$287.9M | $164.2M | $206.6M | $237.7M | -$184.4M |
| Diluted shares | 215.2M | 215.5M | 215.6M | 216.0M | 217.3M | 218.7M | 219.6M | 220.0M | 221.9M | 223.7M | 222.8M | 225.1M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $132.3M | $100.1M | $166.1M | $124.1M | $113.1M | $151.4M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total debt | $19.92B | $19.28B | $17.74B | $17.58B | $17.16B | $16.33B |
| Total assets | $28.52B | $27.11B | $25.22B | $24.17B | $23.51B | $22.80B |
| Total liabilities | $24.72B | $23.84B | $22.02B | $21.34B | $20.80B | $20.23B |
| Shareholders' equity | $3.80B | $3.27B | $3.20B | $2.83B | $2.71B | $2.57B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology