Energy · Oil & Gas Storage & Transportation
Targa Resources: revenue, profit and dividends
In fiscal 2025, Targa Resources had revenue of $17B, up 15.6% a year on average since 2020, and net income of $1.92B (11.3% of revenue). Its dividend per share has gone up 4 years in a row, to $3.75. It has 305% more shares than in 2015.
Revenue, fiscal 2025
average annual revenue growth since 2020 · +3.9% vs 2024
- Ticker
- TRGP · NYSE
- Sector
- Energy
- Sub-industry
- Oil & Gas Storage & Transportation
- Headquarters
- Houston, Texas
- Founded
- 2005
- In the S&P 500 since
- October 12, 2022
- Latest fiscal year
- 2025, ended December 31, 2025
- SEC filer
- Targa Resources Corp. · CIK 0001389170
Revenue and net income
Revenue went from $5.59B in 2016 to $17B in 2025. Net loss in 2010, 2016, 2019–2020.
Diluted earnings per share
Diluted EPS went from $0.74 in 2011 to $8.49 in 2025. Ten-year growth: 22.8% a year.
Dividends per share
Raised 4 years in a row, every year from 2022 to 2025. Ten-year growth: 1.0% a year.
Shares outstanding
304.7% more shares in 2025 than in 2015 (53.6M → 217M): new shares outweighed buybacks.
Operating cash flow, capex and free cash flow
Free cash flow (operating cash flow minus capital expenditure) was $584M in 2025, 3.4% of revenue. Negative in 2012–2014, 2017–2019.
The chart data could not be loaded. The table below has the same figures.
Year by year
| Fiscal year | Revenue | Net income | Net margin | Diluted EPS | Dividend | Shares | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $17B | $1.92B | 11.3% | $8.49 | $3.75 | 217M | $3.92B | $3.33B | $584M |
| 2024 | $16.4B | $1.31B | 8.0% | $5.74 | $2.75 | 221M | $3.65B | $2.97B | $684M |
| 2023 | $16.1B | $1.35B | 8.4% | $3.66 | $1.85 | 226M | $3.21B | $2.39B | $826M |
| 2022 | $20.9B | $1.2B | 5.7% | $3.88 | $1.40 | 231M | $2.38B | $1.33B | $1.05B |
| 2021 | $16.9B | $71.2M | 0.4% | −$0.07 | $0.40 | 229M | $2.3B | $505M | $1.8B |
| 2020 | $8.26B | −$1.55B | −18.8% | −$7.26 | $1.21 | 232M | $1.74B | $952M | $793M |
| 2019 | $8.67B | −$209M | −2.4% | −$1.44 | $3.64 | 232M | $1.39B | $2.88B | −$1.49B |
| 2018 | $10.5B | $1.6M | 0.0% | −$0.53 | $3.64 | 224M | $1.14B | $3.11B | −$1.97B |
| 2017 | $8.81B | $54M | 0.6% | −$0.31 | $3.64 | 207M | $940M | $1.3B | −$358M |
| 2016 | $5.59B | −$187M | −3.4% | −$1.80 | $3.64 | 154M | $837M | $562M | $275M |
| 2015 | — | $58.3M | — | $1.09 | $3.39 | 53.6M | $1.03B | $817M | $218M |
| 2014 | — | $102M | — | $2.43 | — | 42.1M | $762M | $762M | −$400K |
| 2013 | — | $65.1M | — | $1.55 | $2.21* | 42.1M | $383M | $1.01B | −$631M |
| 2012 | — | $38.1M | — | $0.91 | $1.64* | 41.8M | $428M | $583M | −$154M |
| 2011 | — | $30.7M | — | $0.74 | $1.21* | 41.4M | $379M | $332M | $47.4M |
| 2010 | — | −$15M | — | — | — | — | $205M | $139M | $65.9M |
| 2009 | — | $29.3M | — | — | — | — | $336M | $99.4M | $236M |
Fiscal years, labelled by the year in which they end. US dollars; per-share figures and share counts adjusted for splits. —: not in the data. * added up from quarterly reports.
About these figures
- The share count goes from 6.5M in 2010 to 41.4M in 2011, far more than buybacks or new shares explain — usually an IPO, a reverse split or a reorganization that the data are not adjusted for. Per-share figures and share counts before 2011 are therefore left out.
- Dividends per share for 2011–2013 are added up from the quarterly reports.
- Older years are as filed at the time and may predate later restatements, mergers or spin-offs. How the figures are made.
Other Oil & Gas Storage & Transportation companies
Source: SEC EDGAR (company filings), data as of November 8, 2026. Sectors, sub-industries, headquarters and index dates: Wikipedia, CC BY-SA 4.0.