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Targa Resources revenue

Targa Resources's revenue was $17.03bn in fiscal 2025, up 3.9% on the year before. Since fiscal 2016 ($5.59bn) it has grown at a compound 13.2% a year. Over the last twelve months it was $16.74bn.

Revenue history

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

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Revenue5.68.810.58.78.316.920.916.116.417.016.7
Growth on the year before—+57.8%+18.9%−17.3%−4.7%+105.2%+23.5%−23.3%+2.0%+3.9%—
Gross profit1.81.92.22.63.13.24.05.45.76.57.2

Revenue as reported in the company's 10-K and 10-Q filings (for banks, net interest income plus non-interest income). Growth is left blank when the earlier figure was zero or negative.

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
All Other Segments -$5.3M —
Corporate Non Segment and Inter Segment Elimination -$4.9B —

These categories overlap or exclude eliminations, so shares aren't shown.

Products and services
Line of business Revenue YoY
Products $14.4B ▲ 3.7%
Natural Gas Liquids Reserves $12.1B ▼ 2.4%
Services $2.6B ▲ 5.4%
Natural Gas Reserves $2B ▲ 64.0%
Gathering and Processing Fees $1.8B ▲ 9.8%
Storage Terminaling and Export $497M ▼ 0.2%
Oil and Condensate $448M ▼ 14.4%
NGL Transportation Fractionation and Services $312M ▲ 4.4%
Midstream Services Other $23.2M ▼ 61.7%

These categories overlap or exclude eliminations, so shares aren't shown.

From Targa Resources's 10-K filed February 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Revenue against peers

Oil & Gas Storage & Transportation: the closest covered companies by revenue. Last twelve months.

CompanyRevenueGrowth3-year growth a year
Targa Resources $16.74bn -2.0% -2.1%
Kinder Morgan $18.34bn 11.7% 4.9%
Mplx LP $13.22bn 8.7% 4.9%
Williams Companies $12.50bn 8.8% 4.2%
Cheniere Energy, Inc. $23.22bn 22.5% -2.0%
Cheniere Energy Partners, L.p. $11.67bn 13.2% -0.1%

Compare with peers

Head to head: KMI vs TRGPMPLX vs TRGPTRGP vs WMBLNG vs TRGP

More: Oil & Gas Storage & Transportation stocks compared, Energy sector, rankings of US companies

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.