Targa Resources Corp.
Close on Nov 2, 2026Market cap $63.20BP/E 28.1Yield 1.27%
Targa Resources Adjusted EBITDA (Non-GAAP): $1,603M in Q2 2026, up 37.8% from a year earlier. That is the highest of the 26 quarters on record here.
Where the Q2 2026 figure comes from
“|| Adjusted EBITDA | $ | 1,603.1 | $ | 1,163.0 | $ | 3,005.8 | $ | 2,341.5”
Core Non-GAAP KPI: Net income before interest, income taxes, depreciation and amortization, adjusted for equity earnings/cash distributions from unconsolidated affiliates, non-cash equity compensation, risk management mark-to-market, and noncontrolling interest.
Quarterly history
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Breakdown
What makes up adjusted EBITDA (Non-GAAP)
- Adjusted Cash Flow from Operations (Non-GAAP)1,371 · Q2 2026
- Distributable Cash Flow (Legacy Non-GAAP through 2023)710 · Q4 2023
- Adjusted Free Cash Flow (Non-GAAP)205 · Q2 2026
- Interest Expense on Debt Obligations (Less Non-Cash Amortization)231 · Q2 2026
- Non-Cash Compensation on Equity Grants18 · Q2 2026
- Cash Distributions from Unconsolidated Affiliates (Adjusted EBITDA Basis)7.20 · Q2 2026
- Non-Cash Risk Management Activities (Derivative MTM Adjustment)-103 · Q2 2026
Cite this data
StockData. (2026). Targa Resources Adjusted EBITDA (Non-GAAP) ($M), quarterly Q1 2020–Q2 2026 [Data set]. Compiled from Targa Resources SEC filings and investor materials. https://stockdatahq.com/stocks/trgp/kpis/adjusted-ebitda
See every metric in the Targa Resources KPI table. Data updated Nov 3, 2026.