What is Targa Resources's pre-tax income?

Targa Resources (TRGP) reported pre-tax income of $611.3M in Q1 2026.

How has Targa Resources's pre-tax income changed year-over-year?

Targa Resources's pre-tax income increased by 73.7% year-over-year, from $352M to $611.3M.

What is the long-term trend for Targa Resources's pre-tax income?

Over 3 years (2022 to 2025), Targa Resources's pre-tax income has grown at a 14.3% compound annual growth rate (CAGR), from $1.66B to $2.49B.

What does pre-tax income mean?

Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.

Targa Resources TRGP Pre-Tax Income

Pre-Tax Income at other companies

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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$57.55B+45.7%

Enterprise value$57.8B+45.6%

P/E27×+2.9×

P/S3.5×+1.2×

Profitability

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Gross margin41.8%+7.3pp

Operating margin21.9%+6.1pp

Net margin12.9%+4.9pp

FCF margin4.8%-3.1pp

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

Reported directly by Targa Resources in its filing.

Tagged under the XBRL concept us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.

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 pre-tax income?: Targa Resources (TRGP) reported pre-tax income of $611.3M in Q1 2026.
How has Targa Resources's pre-tax income changed year-over-year?: Targa Resources's pre-tax income increased by 73.7% year-over-year, from $352M to $611.3M.
What is the long-term trend for Targa Resources's pre-tax income?: Over 3 years (2022 to 2025), Targa Resources's pre-tax income has grown at a 14.3% compound annual growth rate (CAGR), from $1.66B to $2.49B.
What does pre-tax income mean?: Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.