TRGP (Targa Resources Corp.) Stock Financials & Earnings | Market Cap Arena

TRGP (Targa Resources Corp.) Stock Financials & Earnings | Market Cap Arena

TRGPTarga Resources Corp.

Mkt Cap$51B

Energy·Oil & Gas Midstream·🇺🇸 United States·NYSE

Revenue (TTM)$17.1B

Net Income (TTM)$1.8B

EPS (TTM)$8.52

Free Cash Flow (TTM)$584M

Gross Margin26.5%

Op. Margin20.1%

Net Margin10.8%

FCF Margin3.4%

P/S Ratio (TTM)3.0x

P/E Ratio (TTM)27.5x

YoY Rev Growth+4.0%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$4.3B	$695M	$613M
Q2 23	$3.2B	$535M	$454M
Q3 23	$3.9B	$582M	$492M
Q4 23	$4.2B	$722M	$627M
Q1 24	$4.6B	$1.0B	$639M
Q2 24	$3.6B	$782M	$684M
Q3 24	$3.9B	$865M	$764M
Q4 24	$4.4B	$1.1B	$701M
Q1 25	$4.9B	$924M	$836M
Q2 25	$4.0B	$893M	$809M
Q3 25	$4.2B	$978M	$885M
Q4 25	$4.1B	$1.7B	$917M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	2.5x	45.6x
Q2 23	2.9x	60.2x
Q3 23	3.2x	58.5x
Q4 23	3.2x	61.3x
Q1 24	3.2x	46.3x
Q2 24	3.1x	47.6x
Q3 24	3.1x	41.1x
Q4 24	3.1x	38.8x
Q1 25	3.0x	41.2x
Q2 25	3.0x	32.5x
Q3 25	2.9x	30.8x
Q4 25	3.0x	27.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$1.2B	$694M
Q2 23	$677M	$79M
Q3 23	$407M	-$184M
Q4 23	$958M	$238M
Q1 24	$876M	$207M
Q2 24	$905M	$164M
Q3 24	$541M	-$288M
Q4 24	$1.3B	$601M
Q1 25	$954M	$162M
Q2 25	$858M	-$48M
Q3 25	$599M	-$73M
Q4 25	$1.5B	$542M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$476M
Q2 23	$598M
Q3 23	$592M
Q4 23	$720M
Q1 24	$670M
Q2 24	$740M
Q3 24	$829M
Q4 24	$727M
Q1 25	$792M
Q2 25	$906M
Q3 25	$672M
Q4 25	$963M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-13.3%	-21.0%
Q2 23	-48.5%	-50.8%
Q3 23	-27.6%	-31.3%
Q4 23	-7.1%	-10.0%
Q1 24	+6.2%	+6.5%
Q2 24	+12.8%	+6.6%
Q3 24	+0.1%	-7.9%
Q4 24	+4.1%	+2.8%
Q1 25	+6.4%	+2.4%
Q2 25	+11.3%	+9.6%
Q3 25	+8.1%	+6.2%
Q4 25	-7.9%	-15.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$15M	0.3%
Q2 23	$15M	0.5%
Q3 23	$16M	0.4%
Q4 23	$17M	0.4%
Q1 24	$15M	0.3%
Q2 24	$15M	0.4%
Q3 24	$18M	0.5%
Q4 24	$16M	0.4%
Q1 25	$18M	0.4%
Q2 25	$17M	0.4%
Q3 25	$18M	0.4%
Q4 25	$17M	0.4%

OpEx Breakdown

Quarter	G&A
Q1 23	$82M
Q2 23	$81M
Q3 23	$90M
Q4 23	$95M
Q1 24	$87M
Q2 24	$98M
Q3 24	$103M
Q4 24	$98M
Q1 25	$95M
Q2 25	$95M
Q3 25	$105M
Q4 25	$112M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$212M	$0	$212M
Q2 23	$169M	$0	$169M
Q3 23	$140M	$0	$140M
Q4 23	$142M	$0	$142M
Q1 24	$110M	$0	$110M
Q2 24	$166M	$0	$166M
Q3 24	$127M	$0	$127M
Q4 24	$157M	$0	$157M
Q1 25	$151M	$0	$151M
Q2 25	$113M	$0	$113M
Q3 25	$124M	$100M	$224M
Q4 25	$166M	$155M	$321M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	229M	-0.4%
Q2 23	227M	-1.1%
Q3 23	225M	-0.7%
Q4 23	223M	-1.1%
Q1 24	224M	+0.5%
Q2 24	222M	-0.8%
Q3 24	220M	-0.9%
Q4 24	221M	+0.6%
Q1 25	219M	-1.2%
Q2 25	217M	-0.6%
Q3 25	216M	-0.6%
Q4 25	215M	-0.5%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$6M	1K
FY 15	$4M	2K
FY 16	$3M	2K
FY 17	$4M	2K
FY 18	$4M	2K
FY 19	$3M	3K
FY 20	$3M	2K
FY 21	$7M	2K
FY 22	$8M	3K
FY 23	$5M	3K
FY 24	$5M	3K
FY 25	$5M	4K