Fundamental analysis · SEC EDGAR · TTM through 30/06/2026
TRGP · NYSE · Energy
Fundamental quality
76
out of 100
Targa Resources Corp. grows profitably: it increases revenue at double digits (13.7% a year) without giving up profitability (net margin 13.5%). On fundamental quality it scores 76 out of 100, profiling it as a company with solid fundamentals. Its weakest area is its financial strength (net debt 3.54× EBITDA). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.
Targa Resources is one of the Permian's big gas processors: it gathers gas from Texas wells, separates its liquids and moves them to the coast for export. The link between fracking and world propane and ethane markets, collecting tolls by volume.
EPS growth: 115.9% · Revenue growth: 13.7%
Net margin: 13.5% · ROE: 62% · ROIC: 13.1%
Net debt/EBITDA: 3.54x · FCF: 4.4%
Source: SEC EDGAR · TTM through 30/06/2026
The score combines growth, profitability and financial strength. Here its growth weighs in its favor, while its financial strength drags it down the most.
Percentile against the other 30 Energy companies in our coverage: how far it beats them on each metric (100 = best in sector).
Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.
Key concepts
What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow
| Year | Revenue | Net income | Free cash flow | Net debt |
|---|---|---|---|---|
| 2020 | 8,260 | -1,554 | 793 | 7,869 |
| 2021 | 16,950 | 71 | 1,798 | 6,589 |
| 2022 | 20,930 | 1,196 | 1,047 | 11,317 |
| 2023 | 16,060 | 1,346 | 826 | 12,812 |
| 2024 | 16,382 | 1,312 | 684 | 14,017 |
| 2025 | 17,028 | 1,923 | 584 | 17,266 |
Between 2020 and 2025, revenue went from $8,260M to $17,028M (+106%) and net income went from -$1,554M to $1,923M (+224%).
Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.
Latest results
Figures for the half-year ended June 30, 2026, versus the half-year ended June 30, 2025 (SEC filings):
Compared with the previous close (March 31, 2026), this is what moved in its accounts:
Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.
$3.75
per share, yearly
at least 4 straight years raising it
Growth
That is what we can verify in the SEC filings, whose structured data only starts in 2008 and which many companies begin tagging later. The real streak may be considerably longer.
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Is Targa Resources Corp. cheap or expensive?
That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).
Compute the valuation →Is Targa Resources Corp. a good company to invest in?
In terms of business quality, Targa Resources Corp. scores 76 out of 100 in our analysis, placing it as a company of high fundamental quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.
Is Targa Resources Corp. a profitable company?
Yes. Targa Resources Corp. shows a net margin of 13.5% and an ROE of 62%, a sign of a profitable business.
Does Targa Resources Corp. have a lot of debt?
Yes, its leverage is high: net debt is 3.54 times its EBITDA, and it has been rising.
Is Targa Resources Corp. growing?
Its revenue has grown 13.7% annualized in recent years and its earnings per share 115.9%.
Does Targa Resources Corp. generate cash?
Yes. It converts about 4.4% of its revenue into free cash flow, and has done so positively year after year.
The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.
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Who's behind the methodology and model · how the score is computed
Data: see Targa Resources Corp.'s filings on EDGAR
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