Stocktoria

Targa Resources Corp. TRGP

NYSE · stock · Natural Gas Transmission · website · IPO 2010-12-07 · LEI

Targa Resources Corp. statistics & valuation

Market cap$58.5B
P / E30.4×
P / S3.4×
P / B18.3×
P / FCF100.2×
Net margin11.3%
Return on equity60.1%
FCF margin3.4%
Net debt$17.3B
Net debt / EBITDA3.6×
Enterprise value USD$75.8B
EV / EBITDA15.6×
Earnings yield EBIT/EV4.4%
Return on capital15.4%
Graham number -80.2%$53.07

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($53.07); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-2.80% 0.60% 0.00% -2.40% -18.80% 0.40% 5.70% 8.40% 8.00% 11.30% 2016201720182019202020212022202320242025
Gross margin (%)
26.40% 21.70% 21.40% 29.40% 2016201720182019202020212022202320242025
Operating margin (%)
0.80% -1.40% 2.30% 2.20% -15.80% 5.10% 8.30% 16.40% 16.50% 19.60% 2016201720182019202020212022202320242025
Return on equity (%)
-3.30% 0.80% 0.00% -2.50% -26.30% 1.40% 24.00% 29.20% 29.70% 60.10% 2016201720182019202020212022202320242025
Shares outstanding
184.7M 217.6M 231.8M 232.8M 232.2M 228.6M 231.1M 226.0M 221.3M 216.9M 2016201720182019202020212022202320242025
Net debt ($)
$4.81B $4.92B $6.43B $7.49B $7.51B $6.44B $11.32B $12.81B $14.02B $17.27B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
-1.50% 0.40% 0.00% -1.10% -9.80% 0.50% 6.10% 6.50% 5.80% 7.60% 2016201720182019202020212022202320242025
Free cash flow margin (%)
4.10% -4.10% -18.80% -17.20% 9.60% 10.60% 5.00% 5.10% 4.20% 3.40% 2016201720182019202020212022202320242025
Debt / equity (×)
0.85× 0.75× 0.89× 0.93× 1.31× 1.27× 2.32× 2.81× 3.21× 5.45× 2016201720182019202020212022202320242025
EPS ($)
-$1.80 -$0.31 -$0.53 -$1.44 -$7.26 -$0.07 $3.88 $3.66 $5.74 $8.49 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Targa Resources Corp. trades at about 31.6× earnings — near its 10-year norm (10-year range 19.3×–66.3×, median 34.3×).

19.3× 66.3×

Shaded band = 10-year range (19.3×–66.3×); dot = today's 31.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin——————29.4%21.4%21.7%26.4%
Operating margin19.6%16.5%16.4%8.3%5.1%-15.8%2.2%2.3%-1.4%0.8%
Net margin11.3%8.0%8.4%5.7%0.4%-18.8%-2.4%0.0%0.6%-2.8%
FCF margin3.4%4.2%5.1%5.0%10.6%9.6%-17.2%-18.8%-4.1%4.1%
Return on assets7.6%5.8%6.5%6.1%0.5%-9.8%-1.1%0.0%0.4%-1.5%
Return on equity60.1%29.7%29.2%24.0%1.4%-26.3%-2.5%0.0%0.8%-3.3%
Debt / equity5.45×3.21×2.81×2.32×1.27×1.31×0.93×0.89×0.75×0.85×
Current ratio0.670.720.790.770.770.820.890.510.790.86

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.