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Targa Resources TRGP Product — Revenue

Other product segments

Natural Gas Liquids Reserves
$2.98B-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%
NGL Transportation Fractionation And Services
$68.5M-6.4%
Midstream Services Other
-$1.2M-140%

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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:RevenueFromContractWithCustomerExcludingAssessedTax.

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 product — revenue?
Targa Resources (TRGP) reported product — revenue of $3.59B in Q1 2026.
How has Targa Resources's product — revenue changed year-over-year?
Targa Resources's product — revenue decreased by 14.1% year-over-year, from $4.18B to $3.59B.
What is the long-term trend for Targa Resources's product — revenue?
Over 4 years (2021 to 2025), Targa Resources's product — revenue has grown at a -1.3% compound annual growth rate (CAGR), from $15.6B to $14.8B.
What does product — revenue mean?
This metric represents the total gross revenue generated from the sale of natural gas liquids, natural gas, and condensate products within a specific operating segment. It reflects the company's ability to monetize gathered and processed commodities through its midstream infrastructure. This figure is a primary indicator of the scale and commercial performance of the firm's commodity-linked business activities.