Targa Resources Corp.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $17.0B | $16.4B | $16.1B | $20.9B | $16.9B |
| Cost of revenue | $10.5B | $10.7B | $10.7B | $16.9B | $13.7B |
| Operating income | $3.3B | $2.7B | $2.6B | $1.7B | $864.8M |
| Pretax income | $2.5B | $1.9B | $1.9B | $1.7B | $436.9M |
| Income tax expense | $529.7M | $384.5M | $363.2M | $131.8M | $14.8M |
| Net income | $1.9B | $1.3B | $1.3B | $1.2B | $71.2M |
| Balance Sheet | |||||
| Cash and equivalents | $166.1M | $157.3M | $141.7M | $219.0M | $158.5M |
| Current assets | $2.4B | $2.3B | $2.2B | $2.4B | $1.8B |
| Total assets | $25.2B | $22.7B | $20.7B | $19.6B | $15.2B |
| Current liabilities | $3.5B | $3.2B | $2.8B | $3.1B | $2.3B |
| Total debt | $16.5B | $13.6B | $12.2B | $10.6B | $6.5B |
| Stockholders' equity | $3.1B | $2.6B | $2.7B | $2.7B | $2.0B |
| Cash Flow Statement | |||||
| Cash from operations | $3.9B | $3.6B | $3.2B | $2.4B | $2.3B |
| Depreciation and amortization | $1.5B | $1.4B | $1.3B | $1.1B | $870.6M |
| Stock-based compensation | $69.5M | $63.2M | $62.4M | $57.5M | $59.2M |
| Capital expenditure | $3.3B | $3.0B | $2.4B | $1.3B | $505.1M |
| Free cash flow | $584.1M | $683.9M | $826.2M | $1.0B | $1.8B |
| Dividends paid | $815.1M | $610.2M | $419.0M | $318.3M | $91.5M |
| Share repurchases | $641.8M | $754.7M | $373.7M | $224.8M | $53.2M |
| Impairments | — | — | — | — | $452.3M |
Shares outstanding 214.4M · Free float 98.6%
Annual filing data through FY ended December 31, 2025; float as of September 10, 2026.