Targa Resources balance sheet

At the end of fiscal 2025, Targa Resources had total assets of $25.22bn and shareholders' equity of $3.07bn. It held $166m in cash against $17.43bn of debt.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Targa Resources: balance sheet, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	0.1	0.1	0.2	0.3	0.2	0.2	0.2	0.1	0.2	0.2	0.1
Receivables	0.7	0.8	0.9	0.9	0.9	1.3	1.4	1.5	1.6	1.5	2.0
Inventory	0.1	0.2	0.2	0.2	0.2	0.2	0.4	0.4	0.3	0.4	0.3
Total current assets	1.0	1.3	1.4	1.7	1.5	1.8	2.4	2.2	2.3	2.4	2.6
Goodwill	0.2	0.3	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1
Total assets	12.9	14.4	16.9	18.8	15.9	15.2	19.6	20.7	22.7	25.2	28.5
Accounts payable	—	—	—	1.0	0.8	1.4	1.4	1.6	2.0	1.9	2.1
Total current liabilities	1.2	1.6	2.8	1.9	1.8	2.3	3.1	2.8	3.2	3.5	3.4
Short-term debt	0.3	0.4	1.0	0.4	0.4	0.2	—	—	—	—	—
Long-term debt	4.6	4.7	5.6	7.8	7.8	6.6	11.5	13.0	14.2	17.4	19.6
Total debt	4.9	5.1	6.7	7.8	7.8	6.6	11.5	13.0	14.2	17.4	19.6
Shareholders' equity	5.2	6.2	6.1	4.9	2.7	2.0	2.7	2.7	2.6	3.1	3.7
Shares outstanding	185m	218m	232m	233m	228m	228m	226m	223m	218m	215m	214m

US$ billions unless shown otherwise. Fiscal quarters.

Targa Resources: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	1.3	1.6	1.4	1.4	1.4	1.5	1.7	2.0
Inventory	0.4	0.3	0.3	0.4	0.5	0.4	0.3	0.3
Total current assets	2.0	2.3	2.1	2.2	2.3	2.4	2.4	2.6
Goodwill	0.0	0.0	0.0	0.0	0.0	0.1	0.1	0.1
Total assets	21.9	22.7	22.8	23.5	24.2	25.2	27.1	28.5
Accounts payable	1.5	2.0	1.9	1.7	1.6	1.9	2.0	2.1
Total current liabilities	2.6	3.2	3.2	3.2	2.9	3.5	3.4	3.4
Long-term debt	14.3	14.2	16.2	16.9	17.4	17.4	19.1	19.6
Total debt	14.3	14.2	16.2	16.9	17.4	17.4	19.1	19.6
Shareholders' equity	2.6	2.6	2.5	2.6	2.7	3.1	3.1	3.7
Shares outstanding	218m	218m	217m	216m	215m	215m	215m	214m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Targa Resources's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Targa Resources.