Targa Resources Corp.
Close on Nov 2, 2026Market cap $63.20BP/E 28.1Yield 1.27%
Targa Resources G&P Segment Adjusted Operating Margin by Year
G&P Segment Adjusted Operating Margin (Before Operating Expenses) ($M)
Targa Resources G&P Segment Adjusted Operating Margin: $3,346M in FY2025, up 7.0% from a year earlier.
Where the FY2025 figure comes from
“|| Adjusted operating margin | $ | 855.1 | $ | 816.4 | $ | 38.7 | 5 | % | $ | 3,346.2 | $ | 3,127.0 | $ | 219.2 | 7 | %”
Revenues less product purchases and fuel (equals G&P Operating Margin plus G&P Operating Expenses). Previously termed Gross Margin in 2021.
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | G&P Segment Adjusted Operating Margin (Before Operating Expenses) ($M) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | 3,346 | +7.0% | Q4 2025 Form 8-K (2026-02-19) ↗ |
| FY2024 | Dec 31, 2024 | 3,127 | +10.5% | Q4 2025 Form 8-K (2026-02-19) ↗ |
| FY2023 | Dec 31, 2023 | 2,829 | +9.1% | Q4 2024 Form 8-K (2025-02-20) ↗ |
| FY2022 | Dec 31, 2022 | 2,593 | +43.9% | Q4 2023 Form 8-K (2024-02-15) ↗ |
| FY2021 | Dec 31, 2021 | 1,802 | +24.4% | Q4 2022 Form 8-K (2023-02-22) ↗ |
| FY2020 | Dec 31, 2020 | 1,448 | -3.2% | Q4 2021 Form 8-K (2022-02-24) ↗ |
| FY2019 | Dec 31, 2019 | 1,496 | – | FY2020 Form 10-K (2021-02-18) ↗ |
Cite this data
StockData. (2026). Targa Resources G&P Segment Adjusted Operating Margin ($M), annual FY2019–FY2025 [Data set]. Compiled from Targa Resources SEC filings and investor materials. https://stockdatahq.com/stocks/trgp/kpis/gp-adjusted-operating-margin
See every metric in the Targa Resources KPI table. Data updated Nov 3, 2026.