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Other financials

Income statement

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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

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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

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Operating cash flow$739.5M-22.5%
CapEx$899.5M+13.5%
Free cash flow-$160.0M-199%

Valuation

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Market cap$55.5B+23.5%
Enterprise value$55.75B+23.6%
P/E26×-8.4×
P/S3.4×+0.6×

Profitability

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Gross margin41.8%+7.3pp
Operating margin21.9%+6.1pp
Net margin12.9%+4.9pp

Returns & leverage

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Return on equity76.3%+25.6pp
Debt / equity0.1×0.0×
Current ratio0.7×+0.1×

Where this comes from

Calculated from Targa Resources’s reported figures.

Plus components not separately reported this period.

The official record: Targa Resources’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Targa Resources's EBIT?
Targa Resources (TRGP) reported EBIT of $846.9M in Q1 2026.
How has Targa Resources's EBIT changed year-over-year?
Targa Resources's EBIT increased by 55.9% year-over-year, from $543.3M to $846.9M.
What is the long-term trend for Targa Resources's EBIT?
Over 3 years (2022 to 2025), Targa Resources's EBIT has grown at a 24.4% compound annual growth rate (CAGR), from $1.73B to $3.33B.
What does EBIT mean?
Profit before interest and taxes — the business's core earning power.
How do you interpret EBIT?
Higher is better. Because it adds back interest, EBIT compares earning power across firms with very different debt loads — the base for interest coverage and the EV/EBIT multiple. For filers reporting operating income it equals that line, excluding non-operating swings.
How does EBIT compare across companies?
Comparable across companies regardless of leverage or tax domicile; the standard 'earning power' line for cross-company analysis. Least meaningful for banks and insurers.