Targa Resources Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	17,378	16,382	16,060	20,930	16,950	8,260
Revenue Growth (YoY)	7.17%	2.00%	-23.27%	23.48%	105.20%	-4.74%
Cost of Revenue	11,123	10,703	10,676	16,882	13,730	5,187
Gross Profit	6,255	5,679	5,384	4,048	3,220	3,074
Selling, General & Admin	1,658	1,561	1,427	1,223	1,020	953
Other Operating Expenses	-20.7	-0.4	1.5	0.2	12.4	2.6
Operating Expenses	3,141	2,983	2,758	2,319	1,903	1,821
Operating Income	3,114	2,695	2,626	1,729	1,317	1,253
Interest Expense	-814.5	-767.2	-687.8	-446.1	-387.9	-391.3
Earnings From Equity Investments	18.5	9.4	9	9.1	-23.9	72.6
Other Non Operating Income (Expenses)	0.3	0.4	-4.9	-64.7	0.5	3.7
EBT Excluding Unusual Items	2,319	1,938	1,943	1,227	905.8	938.1
Gain (Loss) on Sale of Investments	-	-	-	435.9	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-	-58.4
Asset Writedown	-	-	-	-	-452.3	-2,498
Other Unusual Items	-	-	-	-	-16.6	45.6
Pretax Income	2,319	1,938	1,943	1,663	436.9	-1,573
Income Tax Expense	501	384.5	363.2	131.8	14.8	-248.1
Earnings From Continuing Operations	1,818	1,554	1,579	1,531	422.1	-1,325
Minority Interest in Earnings	-88.6	-241.5	-233.4	-335.9	-350.9	-228.9
Net Income	1,729	1,312	1,346	1,196	71.2	-1,554
Preferred Dividends & Other Adjustments	113.7	42.5	517.7	298.7	87.3	130.9
Net Income to Common	1,615	1,270	828.2	896.8	-16.1	-1,685
Net Income Growth	37.16%	-2.52%	12.58%	1579.07%	-	-
Shares Outstanding (Basic)	217	220	225	227	229	232
Shares Outstanding (Diluted)	218	221	226	231	229	232
Shares Change (YoY)	-2.18%	-2.08%	-2.21%	1.09%	-1.55%	-0.13%
EPS (Basic)	7.45	5.77	3.69	3.95	-0.07	-7.26
EPS (Diluted)	7.42	5.74	3.66	3.88	-0.07	-7.26
EPS Growth	34.09%	56.83%	-5.67%	-	-	-
Free Cash Flow	642.8	683.9	826.2	1,047	1,798	792.9
Free Cash Flow Per Share	2.95	3.09	3.66	4.53	7.86	3.42
Dividend Per Share	3.750	3.000	2.000	1.400	0.650	0.400
Dividend Growth	36.36%	50.00%	42.86%	115.39%	62.50%	-89.01%
Gross Margin	35.99%	34.66%	33.52%	19.34%	19.00%	37.21%
Operating Margin	17.92%	16.45%	16.35%	8.26%	7.77%	15.17%
Profit Margin	9.29%	7.75%	5.16%	4.29%	-0.10%	-20.40%
Free Cash Flow Margin	3.70%	4.17%	5.14%	5.00%	10.61%	9.60%
EBITDA	4,628	4,129	3,962	2,830	2,192	2,122
EBITDA Margin	26.63%	25.20%	24.67%	13.52%	12.93%	25.69%
D&A For EBITDA	1,514	1,434	1,336	1,101	874.6	868.7
EBIT	3,114	2,695	2,626	1,729	1,317	1,253
EBIT Margin	17.92%	16.45%	16.35%	8.26%	7.77%	15.17%
Effective Tax Rate	21.61%	19.84%	18.70%	7.92%	3.39%	-
Revenue as Reported	17,378	16,382	16,060	20,930	16,950	8,260

Updated Nov 5, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q