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Targa Resources TRGP Gathering And Processing — Operating Expenses

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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$58.69B+58.5%
Enterprise value$58.94B+58.6%
P/E27.5×-0.8×
P/S3.5×+1.3×

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:OperatingExpenses.

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 gathering and processing — operating expenses?
Targa Resources (TRGP) reported gathering and processing — operating expenses of $233.6M in Q1 2026.
How has Targa Resources's gathering and processing — operating expenses changed year-over-year?
Targa Resources's gathering and processing — operating expenses increased by 12.2% year-over-year, from $208.2M to $233.6M.
What is the long-term trend for Targa Resources's gathering and processing — operating expenses?
Over 3 years (2022 to 2025), Targa Resources's gathering and processing — operating expenses has grown at a 14.0% compound annual growth rate (CAGR), from $611.8M to $907M.
What does gathering and processing — operating expenses mean?
This metric encompasses the direct costs associated with operating and maintaining the gathering and processing infrastructure, including labor, utilities, and routine maintenance. It excludes depreciation and corporate overhead to isolate the variable and fixed costs of running the physical assets. Monitoring this helps assess the operational efficiency of the segment.