What are Targa Resources's profit margins?

Targa Resources (TRGP) runs a 41.8% gross margin and a 21.9% operating margin, with a 12.9% net margin.

Where do Targa Resources's ratios come from?

Every ratio is computed from Targa Resources's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Targa Resources TRGP Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	41.8%+7.3pp	38.3%+3.6pp	36%+1.9pp	35.7%+3.4pp	34.4%+2.0pp
Operating margin	21.9%+6.1pp	19.6%+3.1pp	17.9%+1.7pp	17.6%+2.8pp	15.9%+0.8pp
Net margin	12.9%+4.9pp	11.3%+3.3pp	9.9%+2.2pp	9.6%+2.9pp	8%+1.0pp
Returns
Return on equity	76.3%+25.6pp	67.9%+18.7pp	65.5%+15.8pp	64.8%+22.3pp	50.7%+7.9pp
Return on invested capital	95.8%+19.7pp	84.3%+10.0pp	86%+7.9pp	88.7%+17.0pp	76.1%+4.7pp
Efficiency
Asset turnover	0.7×-0.1×	0.7×0.0×	0.8×0.0×	0.8×0.0×	0.8×-0.1×
Liquidity
Current ratio	0.7×+0.1×	0.7×-0.1×	0.8×0.0×	0.7×0.0×	0.6×-0.1×
Leverage
Debt-to-equity	0.1×0.0×	0.2×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Net debt / EBITDA	0×0.0×	0.1×0.0×	0.1×0.0×	0×0.0×	0×0.0×
Per Share
Book value per share	$14.55+29.8%	$14.14+20.7%	$12.53+7.1%	$11.91+7.1%	$11.21-7.3%
Valuation
Market capitalization	$53.86B+23.5%	$39.6B+1.7%	$36.05B+10.2%	$36.39B+26.8%	$43.62B+74.8%
Price / earnings	25.3×-8.1×	20.6×-9.1×	20.9×-5.1×	22.2×-4.0×	33.4×+11.2×
Price / sales	3.3×+0.6×	2.3×-0.1×	2.1×+0.1×	2.1×+0.4×	2.7×+1.1×
Price / book	17.2×-0.6×	12.9×-2.1×	13.3×+0.6×	14.1×+2.4×	17.8×+8.6×
EV / EBITDA	10.4×-0.4×	8.2×-1.3×	7.9×-0.3×	8.2×+0.5×	10.8×+4.2×

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Questions, answered.

What are Targa Resources's profit margins?: Targa Resources (TRGP) runs a 41.8% gross margin and a 21.9% operating margin, with a 12.9% net margin.
Where do Targa Resources's ratios come from?: Every ratio is computed from Targa Resources's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.