Targa Resources Corp. (TRGP) stock
TRGPNYSENatural Gas TransmissionFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 10/3027% above fair value
$296.30+4.52 (+1.55%)
Close on Nov 12, 2026Market cap $63.54BP/E 26.2Yield 1.27%
Targa Resources gross margin
Gross margin is gross profit as a percentage of revenue.
Targa Resources's gross margin for the twelve months ending Sep 30, 2026 was 41.8%. For fiscal 2025 it was 38.3%, against 34.7% the year before. The highest annual figure on record is 38.3% in fiscal 2025.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 38.3% | +3.6 |
| FY2024 | Dec 31, 2024 | 34.7% | +1.1 |
| FY2023 | Dec 31, 2023 | 33.5% | +14.2 |
| FY2022 | Dec 31, 2022 | 19.3% | +0.3 |
| FY2021 | Dec 31, 2021 | 19.0% | −18.2 |
| FY2020 | Dec 31, 2020 | 37.2% | +7.8 |
| FY2019 | Dec 31, 2019 | 29.4% | +8.0 |
| FY2018 | Dec 31, 2018 | 21.4% | −0.2 |
| FY2017 | Dec 31, 2017 | 21.7% | −10.0 |
| FY2016 | Dec 31, 2016 | 31.6% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 36.1% | −3.5 |
| Q2 FY2026 | Jun 30, 2026 | 48.2% | +5.3 |
| Q1 FY2026 | Mar 31, 2026 | 41.5% | +12.9 |
| Q4 FY2025 | Dec 31, 2025 | 43.1% | +9.4 |
| Q3 FY2025 | Sep 30, 2025 | 39.6% | +1.0 |
| Q2 FY2025 | Jun 30, 2025 | 42.8% | +4.5 |
| Q1 FY2025 | Mar 31, 2025 | 28.6% | −0.9 |
| Q4 FY2024 | Dec 31, 2024 | 33.7% | +2.0 |
| Q3 FY2024 | Sep 30, 2024 | 38.6% | +7.6 |
| Q2 FY2024 | Jun 30, 2024 | 38.3% | −0.9 |
| Q1 FY2024 | Mar 31, 2024 | 29.5% | −3.7 |
| Q4 FY2023 | Dec 31, 2023 | 31.6% | +4.6 |
| Q3 FY2023 | Sep 30, 2023 | 31.0% | +11.3 |
| Q2 FY2023 | Jun 30, 2023 | 39.2% | +22.6 |
| Q1 FY2023 | Mar 31, 2023 | 33.2% | +18.0 |
| Q4 FY2022 | Dec 31, 2022 | 27.0% | +11.0 |
| Q3 FY2022 | Sep 30, 2022 | 19.7% | +0.7 |
| Q2 FY2022 | Jun 30, 2022 | 16.7% | −4.0 |
| Q1 FY2022 | Mar 31, 2022 | 15.2% | −6.7 |
| Q4 FY2021 | Dec 31, 2021 | 16.0% | −14.7 |
| Q3 FY2021 | Sep 30, 2021 | 18.9% | −18.5 |
| Q2 FY2021 | Jun 30, 2021 | 20.7% | −21.5 |
| Q1 FY2021 | Mar 31, 2021 | 21.9% | −19.4 |
| Q4 FY2020 | Dec 31, 2020 | 30.8% | −0.4 |
| Q3 FY2020 | Sep 30, 2020 | 37.5% | +7.3 |
| Q2 FY2020 | Jun 30, 2020 | 42.2% | +10.5 |
| Q1 FY2020 | Mar 31, 2020 | 41.3% | +16.4 |
| Q4 FY2019 | Dec 31, 2019 | 31.2% | +8.5 |
| Q3 FY2019 | Sep 30, 2019 | 30.2% | +10.0 |
| Q2 FY2019 | Jun 30, 2019 | 31.8% | +9.7 |
| Q1 FY2019 | Mar 31, 2019 | 24.9% | +4.0 |
| Q4 FY2018 | Dec 31, 2018 | 22.7% | +2.9 |
| Q3 FY2018 | Sep 30, 2018 | 20.2% | −1.8 |
| Q2 FY2018 | Jun 30, 2018 | 22.1% | −1.9 |
| Q1 FY2018 | Mar 31, 2018 | 21.0% | −0.7 |
| Q4 FY2017 | Dec 31, 2017 | 19.8% | – |
| Q3 FY2017 | Sep 30, 2017 | 22.0% | – |
| Q2 FY2017 | Jun 30, 2017 | 23.9% | – |
| Q1 FY2017 | Mar 31, 2017 | 21.7% | – |
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