Targa Resources has been growing earnings at an average annual rate of 42.9%, while the Oil and Gas industry saw earnings growing at 9.6% annually. Revenues have been growing at an average rate of 1.9% per year. Targa Resources's return on equity is 66.2%, and it has net margins of 12.8%.
Key information
42.89%
Earnings growth rate
43.93%
EPS growth rate
Oil and Gas Industry Growth
27.84%
Revenue growth rate
1.88%
Return on equity
66.21%
Net Margin
12.80%
Last Earnings Update
31 Mar 2026
Recent past performance updates
Recent updates
Revenue & Expenses Breakdown
How Targa Resources makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
BIT:1TRGP Revenue, expenses and earnings (USD Millions)
Date
Revenue
Earnings
G+A Expenses
R&D Expenses
31 Mar 26
16,562
2,120
1,739
0
31 Dec 25
17,028
1,841
1,704
0
30 Sep 25
17,378
1,615
1,658
0
30 Jun 25
17,079
1,524
1,624
0
31 Mar 25
16,381
1,195
1,594
0
31 Dec 24
16,382
1,270
1,561
0
30 Sep 24
16,216
1,231
1,522
0
30 Jun 24
16,261
1,065
1,486
0
31 Mar 24
16,102
1,095
1,451
0
31 Dec 23
16,060
828
1,427
0
30 Sep 23
16,376
868
1,407
0
30 Jun 23
17,839
844
1,379
0
31 Mar 23
20,491
890
1,313
0
31 Dec 22
20,930
897
1,223
0
30 Sep 22
21,817
244
1,160
0
30 Jun 22
20,916
211
1,077
0
31 Mar 22
18,276
-128
1,038
0
31 Dec 21
16,950
-16
1,020
0
30 Sep 21
14,081
319
997
0
30 Jun 21
11,737
195
961
0
31 Mar 21
9,844
210
938
0
31 Dec 20
8,260
-1,685
953
0
30 Sep 20
8,161
-1,828
937
0
30 Jun 20
7,949
-1,944
986
0
31 Mar 20
8,421
-2,034
1,044
0
31 Dec 19
8,671
-334
984
0
30 Sep 19
8,795
-327
1,088
0
30 Jun 19
9,879
-302
1,076
0
31 Mar 19
10,328
-182
1,020
0
31 Dec 18
10,484
-119
979
0
30 Sep 18
10,589
272
930
0
30 Jun 18
9,735
129
877
0
31 Mar 18
9,158
78
856
0
31 Dec 17
8,815
-63
826
0
30 Sep 17
8,125
-497
801
0
30 Jun 17
7,645
-339
785
0
31 Mar 17
7,361
-420
764
0
31 Dec 16
6,691
-278
741
0
30 Sep 16
6,326
-72
708
0
30 Jun 16
6,306
-19
706
0
31 Mar 16
6,421
49
715
0
31 Dec 15
6,659
58
702
0
30 Sep 15
7,044
57
681
0
30 Jun 15
7,700
75
649
0
Quality Earnings: 1TRGP has high quality earnings.
Growing Profit Margin: 1TRGP's current net profit margins (12.8%) are higher than last year (7.3%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: 1TRGP's earnings have grown significantly by 42.9% per year over the past 5 years.
Accelerating Growth: 1TRGP's earnings growth over the past year (77.3%) exceeds its 5-year average (42.9% per year).
Earnings vs Industry: 1TRGP earnings growth over the past year (77.3%) exceeded the Oil and Gas industry -0.6%.
Return on Equity
High ROE: Whilst 1TRGP's Return on Equity (66.21%) is outstanding, this metric is skewed due to their high level of debt.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
Data
Last Updated (UTC time)
Company Analysis
2026/06/28 07:31
End of Day Share Price
2026/06/26 00:00
Earnings
2026/03/31
Annual Earnings
2025/12/31
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Targa Resources Corp. is covered by 32 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.