What is Targa Resources's market cap?

Targa Resources (TRGP) has a market capitalization of $59.6B and trades on NYSE.

What is Targa Resources's revenue and profitability?

Targa Resources generated $16.6B in trailing twelve-month revenue with net income of $2.1B, representing a net margin of 12.9%. Gross margin stands at 41.8%, with free cash flow of $1.1B. These figures are based on the Q1 2026 filing.

Who are Targa Resources's competitors?

Targa Resources's key competitors include ONEOK, Inc., Enterprise Products Partners L.P., Energy Transfer LP, and others. These companies compete in similar markets and product categories.

Who does Targa Resources partner with?

Targa Resources's notable partners include Blackstone, Stonepeak Infrastructure Partners.

What subsidiaries does Targa Resources have?

Targa Resources's subsidiaries include Targa Resources Partners LP, Lucid Energy Group.

Where is Targa Resources headquartered?

Targa Resources is headquartered in United States of America and employs approximately 3,186 people. It has been publicly traded since 2010.

Targa Resources

TRGP

Targa Resources Corp. is a leading provider of midstream energy services in North America, specializing in the gathering, compressing, treating, processing, and selling of natural gas.

Market cap

$59.64B+58.4%

Revenue$16.6B+1.1%

Net income$2.1B+63.1%

Free cash flow$1.1B+66.7%

EPS (diluted)$9.79+80.3%

Trailing twelve months · change vs. prior year

Table of contents

Earnings

Q1 2026 report

May 7, 2026

Revenue$4.1BMiss by $581.6M EPS$2.21Miss by $0.27

Read the full report

Next report

Aug 6, 2026 (In 3 weeks)

Revenue estimate$4.8B

EPS estimate$2.75

Financials

Q1 2026

Income statement

See full

Revenue$4.1B-10.2%

Gross profit$1.7B+30.4%

Operating income$846.9M+55.9%

Net income$479.6M+77.3%

EPS (diluted)$2.21+143%

Balance sheet

See full

Cash & equivalents$100.1M-33.9%

Total debt$346.5M+17.0%

Total equity$3.1B+27.9%

Total assets$27.1B+18.9%

Cash flow

See full

Operating cash flow$739.5M-22.5%

CapEx$899.5M+13.5%

Free cash flow-$160.0M-199%

Valuation & ratios

Valuation

See full

Market cap$59.64B+58.4%

Enterprise value$59.89B+58.3%

P/E28×+5.0×

P/S3.6×+1.4×

Profitability

See full

Gross margin41.8%+7.3pp

Operating margin21.9%+6.1pp

Net margin12.9%+4.9pp

Returns & leverage

See full

Return on equity76.3%+25.6pp

Debt / equity0.1×0.0×

Current ratio0.7×+0.1×

Segments

By product

See full

Natural Gas Liquids Reserves$3.0B-11.7%

Service$750.1M+10.8%

Natural Gas Reserves$473.7M-30.5%

Oil And Condensate$131.8M+12.6%

Storage Terminaling And Export$123.1M-9.1%

By segment

See full

Logistics And Transportation$3.4B-18.8%

Gathering And Processing$1.8B-18.9%

All Other Segments-$110.3M+55.7%

Corporate Non Segment And Inter Segment Elimination-$983.7M+37.9%

Competitors

By market cap

Enterprise Products Partners$81.8B+19.7%

EOG Resources$73.3B+9.0%

Kinder Morgan$72.3B+14.4%

Energy Transfer$68.3B+10.8%

TRG

Targa Resources$59.6B+58.4%

MPLX$58.3B+11.9%

Oneok$57.4B+11.9%

HES

Hess Midstream$5.0B-0.1%

By revenue growth

Oneok+41.0%

Kinder Morgan+13.1%

Energy Transfer+12.5%

TRG

Targa Resources+1.1%

Enterprise Products Partners-9.3%

By net margin

MPLX36.69%0.0pp

EOG Resources23.02%-3.1pp

HES

Hess Midstream22.64%+6.2pp

Kinder Morgan18.92%+2.2pp

TRG

Targa Resources12.87%+4.9pp

Enterprise Products Partners11.44%+1.2pp

Oneok10.03%-2.1pp

Energy Transfer4.73%-1.2pp

Profile

Targa Resources Corp. is a leading provider of midstream energy services in North America, specializing in the gathering, compressing, treating, processing, and selling of natural gas. The company also provides a comprehensive suite of services for natural gas liquids (NGLs) and NGL products, including fractionation, storage, terminaling, and marketing.

Competitive position

Targa is one of the largest independent midstream infrastructure companies in North America with a dominant position in the Permian Basin and a significant NGL export footprint.

GeographiesUnited States, North America

Customer segmentsUpstream Producers, Industrial Manufacturers, Petrochemical Refiners, Global Energy Traders

Business modelFee-based Infrastructure, Commodity Marketing, Asset-heavy Logistics

SuppliersExploration and Production (E&P) activity, Steel and pipeline equipment manufacturers, Field service providers

CustomersPetrochemical plants, Power generation facilities, Residential and commercial heating distributors, International LPG importers

CountryUnited States of America

Listed2010

Employees3.2K

CEOMatthew J. Meloy

SectorEnergy

IndustryOil & Gas Midstream

Websitetargaresources.com

FilingsSEC EDGAR

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Questions, answered.

What is Targa Resources's market cap?: Targa Resources (TRGP) has a market capitalization of $59.6B and trades on NYSE.
What is Targa Resources's revenue and profitability?: Targa Resources generated $16.6B in trailing twelve-month revenue with net income of $2.1B, representing a net margin of 12.9%. Gross margin stands at 41.8%, with free cash flow of $1.1B. These figures are based on the Q1 2026 filing.
Who are Targa Resources's competitors?: Targa Resources's key competitors include ONEOK, Inc., Enterprise Products Partners L.P., Energy Transfer LP, and others. These companies compete in similar markets and product categories.
Who does Targa Resources partner with?: Targa Resources's notable partners include Blackstone, Stonepeak Infrastructure Partners.
What subsidiaries does Targa Resources have?: Targa Resources's subsidiaries include Targa Resources Partners LP, Lucid Energy Group.
Where is Targa Resources headquartered?: Targa Resources is headquartered in United States of America and employs approximately 3,186 people. It has been publicly traded since 2010.