Targa Resources Corp. (TRGP)
NYSE: TRGP · Real-Time Price · USD
293.65
+5.83 (2.03%)
Aug 31, 2026, 4:00 PM EDT - Market closed
Targa Resources Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Net Income | 764.6 | 479.6 | 545 | 478.4 | 629.1 | 270.5 | 351 | 387.3 | 298.5 | 275.2 | 299.6 | 220 | 329.3 | 497 | 318 | 193.1 | 596.4 | 88 | -313.6 | 182.2 |
Depreciation & Amortization | 453.1 | 426 | 390.5 | 383.5 | 373.7 | 367.6 | 378.5 | 355.4 | 348.6 | 340.5 | 342.8 | 332.7 | 333.6 | 326.4 | 331.1 | 288.5 | 271 | 210.2 | 220.7 | 223.9 |
Other Amortization | - | - | - | - | - | - | - | - | - | - | 2.1 | - | - | - | 49.6 | - | - | - | 16.8 | - |
Loss (Gain) From Sale of Assets | - | - | - | - | - | - | - | - | - | - | -1.4 | -0.7 | -1.7 | -1.5 | -1.5 | -6.5 | -0.6 | -1 | 3.7 | -1.5 |
Asset Writedown & Restructuring Costs | - | - | - | - | - | - | - | - | - | - | 0.9 | 3.4 | 1.7 | 0.9 | 6.1 | 2.7 | 0.5 | 0.5 | 457.6 | 0.3 |
Loss (Gain) From Sale of Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -435.9 | - | - | - |
Loss (Gain) on Equity Investments | 1.5 | -6.9 | 13.3 | -1.2 | -0.1 | -3.1 | 3.1 | 1.7 | 2.8 | 2.8 | 0.7 | 1.8 | - | 1.6 | 0.8 | 2 | -0.1 | 0.4 | 82.3 | 8 |
Stock-Based Compensation | 18 | 23.2 | 17.3 | 17.5 | 17.1 | 17.6 | 15.8 | 17.7 | 15.1 | 14.6 | 16.7 | 15.7 | 15 | 15 | 15.7 | 14.5 | 13.8 | 13.5 | 14.6 | 14.7 |
Other Operating Activities | 144.6 | 262.7 | 151 | 209 | -88.5 | 322.8 | 256.3 | 175 | 206.7 | 164.4 | 177.8 | 148.9 | 2.4 | -8.3 | 47.8 | 212 | 216.1 | 298.1 | 101.2 | 96.9 |
Change in Accounts Receivable | -194.5 | -198 | -87.1 | -121.9 | 102.7 | 217.1 | -314.4 | -63.5 | 263.1 | 39.8 | -217.8 | -315.5 | 71.9 | 440.8 | 140.3 | 330.3 | -34.7 | -216.2 | -32.6 | -390.9 |
Change in Inventory | 10.4 | 96 | 57.2 | -41.3 | -184.2 | 78.8 | 80.7 | -107.4 | -86.8 | 147 | 170.1 | -223.3 | -148.3 | 237.5 | 84.3 | -269.3 | -107.1 | 55.9 | 168.6 | -254.2 |
Change in Accounts Payable | 50 | -181.9 | 259.5 | -163.8 | -183.2 | -169.3 | 401 | -90.6 | -205.2 | -64.5 | 37.6 | 350.5 | -27.2 | -292.7 | -527.8 | -276.8 | 58.8 | 362.8 | -273.8 | 673 |
Change in Other Net Operating Assets | 193.6 | -161.2 | 158.8 | -161 | 191.7 | -147.6 | 155.9 | -134.7 | 61.7 | -43.4 | 128.6 | -126.2 | 100.1 | -46.9 | 73.1 | -30.9 | 57.3 | -64 | 58.6 | -57.2 |
Operating Cash Flow | 1,441 | 739.5 | 1,506 | 599.2 | 858.3 | 954.4 | 1,328 | 540.9 | 904.5 | 876.4 | 957.7 | 407.3 | 676.8 | 1,170 | 537.5 | 459.6 | 635.5 | 748.2 | 504.1 | 495.2 |
Operating Cash Flow Growth (YoY) | 67.92% | -22.52% | 13.38% | 10.78% | -5.11% | 8.90% | 38.66% | 32.80% | 33.64% | -25.08% | 78.18% | -11.38% | 6.50% | 56.35% | 6.63% | -7.19% | 1.88% | 10.06% | -22.30% | 38.79% |
Investing Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Capital Expenditures | -1,010 | -899.5 | -963.2 | -671.8 | -906.1 | -792.2 | -726.9 | -828.8 | -740.3 | -669.8 | -720 | -591.7 | -598 | -475.7 | -518.9 | -395.9 | -215.1 | -204.4 | -183.5 | -122.7 |
Sale of Property, Plant & Equipment | - | - | - | - | - | - | - | - | - | - | 1.8 | 1 | 1.7 | 0.2 | 4.7 | 16 | 1.3 | 1 | 4.3 | 7.2 |
Cash Acquisitions | -5 | -1,261 | -213.1 | - | - | - | - | - | - | - | - | - | - | - | 9.4 | -3,515 | -203.7 | - | - | - |
Investment in Securities | -4 | -1 | -4.5 | -46.1 | -50.8 | -21.3 | -19 | -19.3 | -10.4 | -8.7 | -8.7 | -8.2 | 2.8 | -5 | 4.3 | -1.3 | 862.9 | 6.4 | 5.7 | 2.6 |
Other Investing Activities | 5.6 | 0.9 | - | 26.8 | 0.1 | 0.2 | -0.4 | 0.8 | 0.9 | 0.6 | -0.1 | -0.3 | -0.3 | -0.3 | -1.6 | - | - | - | -0.1 | -0.8 |
Investing Cash Flow | -1,014 | -2,161 | -1,181 | -691.1 | -956.8 | -813.3 | -746.3 | -847.3 | -749.8 | -677.9 | -727 | -599.2 | -593.8 | -480.8 | -502.1 | -3,896 | 445.4 | -197 | -173.6 | -113.7 |
Financing Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Short-Term Debt Issued | - | 33,024 | - | - | - | 26,302 | - | - | - | 14,050 | - | - | - | 14,527 | - | - | - | 250 | - | - |
Long-Term Debt Issued | - | 1,498 | - | - | - | 1,994 | - | - | - | - | - | - | - | 1,717 | - | - | - | 1,805 | - | - |
Total Debt Issued | 21,912 | 34,522 | 24,224 | 41,024 | 22,721 | 28,296 | 25,780 | 24,823 | 22,552 | 14,050 | 13,976 | 18,147 | 14,507 | 16,244 | 22,510 | 14,013 | 3,244 | 2,055 | 60 | 180 |
Short-Term Debt Repaid | - | -32,128 | - | - | - | -26,243 | - | - | - | -13,940 | - | - | - | -15,327 | - | - | - | -130 | - | - |
Long-Term Debt Repaid | - | -710.9 | - | - | - | -14.6 | - | - | - | -10.8 | - | - | - | -299.4 | - | - | - | -1,294 | - | - |
Total Debt Repaid | -21,946 | -32,839 | -24,232 | -40,525 | -22,093 | -26,257 | -25,884 | -24,139 | -22,071 | -13,951 | -13,937 | -17,656 | -14,319 | -15,626 | -22,352 | -10,287 | -3,061 | -1,424 | -253.1 | -373.2 |
Net Debt Issued (Repaid) | -34 | 1,684 | -8 | 499.2 | 628.2 | 2,039 | -104.4 | 684.4 | 480.6 | 99.2 | 39.1 | 491.4 | 187.6 | 618 | 157.8 | 3,726 | 182.6 | 631.1 | -193.1 | -193.2 |
Repurchase of Common Stock | -80.1 | -88.6 | -40.5 | -172.7 | -324.5 | -171.4 | -111.1 | -184.5 | -355.3 | -160.2 | -41 | -153.6 | -149.1 | -85.8 | -32.7 | -81.6 | -74.1 | -72.2 | -40.1 | -4.5 |
Common Dividends Paid | -269.7 | -218.9 | -215.8 | -216.9 | -218.4 | -167.2 | -164.9 | -166.4 | -167.6 | -116.6 | -112.5 | -115.2 | -114.3 | -85.3 | - | - | - | - | - | - |
Dividends Paid | -269.7 | -218.9 | -215.8 | -216.9 | -218.4 | -167.2 | -164.9 | -166.4 | -167.6 | -116.6 | -112.5 | -115.2 | -114.3 | -85.3 | -80.9 | -81 | -109.8 | -108 | -47.3 | -47.5 |
Other Financing Activities | -11.8 | -20.6 | -18.4 | -6.7 | -25.1 | -1,847 | -171.1 | -66.3 | -55.9 | -52.7 | -114.1 | -60.6 | -49.6 | -1,143 | -53.5 | -87.8 | -96.3 | -1,025 | -120.1 | -116.7 |
Financing Cash Flow | -395.6 | 1,355 | -282.7 | 102.9 | 60.2 | -147 | -551.5 | 267.2 | -98.2 | -230.3 | -228.5 | 162 | -125.4 | -696.2 | -9.3 | 3,475 | -1,063 | -573.8 | -400.6 | -361.9 |
Net Cash Flow
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Net Cash Flow | 32.2 | -66 | 42 | 11 | -38.3 | -5.9 | 30.1 | -39.2 | 56.5 | -31.8 | 2.2 | -29.9 | -42.4 | -7.2 | 26.1 | 38.9 | 18.1 | -22.6 | -70.1 | 19.6 |
Free Cash Flow
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Free Cash Flow | 431.2 | -160 | 542.3 | -72.6 | -47.8 | 162.2 | 601 | -287.9 | 164.2 | 206.6 | 237.7 | -184.4 | 78.8 | 694.1 | 18.6 | 63.7 | 420.4 | 543.8 | 320.6 | 372.5 |
Free Cash Flow Growth (YoY) | - | - | -9.77% | - | - | -21.49% | 152.84% | - | 108.38% | -70.23% | 1177.96% | - | -81.26% | 27.64% | -94.20% | -82.90% | -19.32% | -6.82% | -35.92% | 119.63% |
Free Cash Flow Margin | 9.71% | -3.91% | 13.37% | -1.75% | -1.12% | 3.56% | 13.64% | -7.47% | 4.61% | 4.53% | 5.61% | -4.73% | 2.31% | 15.35% | 0.41% | 1.19% | 6.94% | 10.97% | 5.89% | 8.35% |
Free Cash Flow Per Share | 2.00 | -0.74 | 2.51 | -0.34 | -0.22 | 0.74 | 2.74 | -1.31 | 0.74 | 0.92 | 1.06 | -0.82 | 0.35 | 3.03 | 0.08 | 0.28 | 1.81 | 2.34 | 1.40 | 1.35 |
Levered Free Cash Flow | 80.09 | -252.58 | 336.38 | -98.05 | -304.3 | -198.43 | 541.85 | -632.34 | 89.3 | 281.85 | -87.39 | -131.95 | -73.24 | 503.84 | -111.28 | -308.78 | 168.09 | 494.98 | -1.39 | 417.59 |
Unlevered Free Cash Flow | 227.96 | -110.33 | 471.38 | 40.26 | -167.8 | -75.24 | 652.91 | -516.78 | 199.3 | 424.73 | 21.76 | -22.51 | 30.89 | 608.84 | -69.88 | -230.15 | 218.84 | 553.48 | 46.63 | 474.46 |
Additional Metrics
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Cash Interest Paid | 35.9 | 384 | 52.6 | 377.3 | 22.5 | 340.9 | 17.8 | 315.9 | 110.8 | 268.2 | 44.5 | 299.3 | 63.2 | 211.6 | 68.7 | 152.1 | 29.2 | 151.3 | 28.2 | 145.2 |
Cash Income Tax Paid | 0.5 | 0.7 | - | 3.4 | 20.3 | 0.8 | 7 | 0.2 | 9.2 | 0.3 | - | 0.8 | 8.6 | 0.1 | 0.5 | - | 1.3 | -0.2 | 0.1 | 0.2 |
Change in Working Capital | 59.5 | -445.1 | 388.4 | -488 | -73 | -21 | 323.2 | -396.2 | 32.8 | 78.9 | 118.5 | -314.5 | -3.5 | 338.7 | -230.1 | -246.7 | -25.7 | 138.5 | -79.2 | -29.3 |