# Targa Resources Corp.: financial statements, quarterly

TRGP · NYSE · CIK 1389170 · [Utilities](/sectors/utilities.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/trgp.md) · [Financials](/companies/trgp/financials.md) · [Filings](/companies/trgp/filings.md) · [Insiders](/companies/trgp/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/trgp/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [3,359](/filings/0000950170-23-058137.md) | [3,640 d](/filings/0000950170-25-023983.md) | [3,988](/filings/0000950170-24-051853.md) | [3,048](/filings/0000950170-24-089135.md) | [3,852](/filings/0001193125-25-266435.md) | [2,161 d](/filings/0000950170-25-023983.md) | [4,562](/filings/0001193125-26-211698.md) | [4,260](/filings/0001193125-26-337729.md) | [4,151](/filings/0001193125-25-266435.md) | [4,056 d](/filings/0001193125-26-059296.md) | [4,095](/filings/0001193125-26-211698.md) | [4,440](/filings/0001193125-26-337729.md) |
| Cost of revenue | $m | [2,690](/filings/0000950170-24-121370.md) | [2,899 d](/filings/0001193125-26-059296.md) | [3,218](/filings/0000950170-25-061595.md) | [2,197](/filings/0001193125-25-175239.md) | [2,365](/filings/0001193125-25-266435.md) | [2,923 d](/filings/0001193125-26-059296.md) | [3,258](/filings/0001193125-26-211698.md) | [2,436](/filings/0001193125-26-337729.md) | [2,506](/filings/0001193125-25-266435.md) | [2,308 d](/filings/0001193125-26-059296.md) | [2,395](/filings/0001193125-26-211698.md) | [2,302](/filings/0001193125-26-337729.md) |
| Gross profit | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating income | $m | [505](/filings/0000950170-24-121370.md) | [635 d](/filings/0001193125-26-059296.md) | [639](/filings/0000950170-25-061595.md) | [627](/filings/0001193125-25-175239.md) | [728](/filings/0001193125-25-266435.md) | [701 d](/filings/0001193125-26-059296.md) | [543](/filings/0001193125-26-211698.md) | [1,034](/filings/0001193125-26-337729.md) | [837](/filings/0001193125-25-266435.md) | [917 d](/filings/0001193125-26-059296.md) | [847](/filings/0001193125-26-211698.md) | [1,235](/filings/0001193125-26-337729.md) |
| Interest expense | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Income tax | $m | [53.9](/filings/0000950170-24-121370.md) | [103 d](/filings/0001193125-26-059296.md) | [82.7](/filings/0000950170-25-061595.md) | [94.3](/filings/0001193125-25-175239.md) | [97.0](/filings/0001193125-25-266435.md) | [110 d](/filings/0001193125-26-059296.md) | [72.2](/filings/0001193125-26-211698.md) | [184](/filings/0001193125-26-337729.md) | [134](/filings/0001193125-25-266435.md) | [139 d](/filings/0001193125-26-059296.md) | [124](/filings/0001193125-26-211698.md) | [227](/filings/0001193125-26-337729.md) |
| Net income | $m | [220](/filings/0000950170-24-121370.md) | [300 d](/filings/0001193125-26-059296.md) | [275](/filings/0000950170-25-061595.md) | [299](/filings/0001193125-25-175239.md) | [387](/filings/0001193125-25-266435.md) | [351 d](/filings/0001193125-26-059296.md) | [271](/filings/0001193125-26-211698.md) | [629](/filings/0001193125-26-337729.md) | [478](/filings/0001193125-25-266435.md) | [545 d](/filings/0001193125-26-059296.md) | [480](/filings/0001193125-26-211698.md) | [765](/filings/0001193125-26-337729.md) |
| Diluted EPS | $ per share | [0.97](/filings/0000950170-24-121370.md) | not reported | [1.22](/filings/0000950170-25-061595.md) | [1.33](/filings/0001193125-25-175239.md) | [1.75](/filings/0001193125-25-266435.md) | not reported | [0.91](/filings/0001193125-26-211698.md) | [2.87](/filings/0001193125-26-337729.md) | [2.20](/filings/0001193125-25-266435.md) | not reported | [2.21](/filings/0001193125-26-211698.md) | [3.54](/filings/0001193125-26-337729.md) |
| Basic EPS | $ per share | [0.97](/filings/0000950170-24-121370.md) | not reported | [1.23](/filings/0000950170-25-061595.md) | [1.34](/filings/0001193125-25-175239.md) | [1.76](/filings/0001193125-25-266435.md) | not reported | [0.91](/filings/0001193125-26-211698.md) | [2.88](/filings/0001193125-26-337729.md) | [2.21](/filings/0001193125-25-266435.md) | not reported | [2.22](/filings/0001193125-26-211698.md) | [3.54](/filings/0001193125-26-337729.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues
- Cost of revenue: us-gaap:CostOfGoodsAndServicesSold
- Gross profit: not reported
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: not reported
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $bn | [0.1](/filings/0000950170-23-058137.md) | [0.1](/filings/0000950170-25-023983.md) | [0.1](/filings/0000950170-24-051853.md) | [0.2](/filings/0000950170-24-089135.md) | [0.1](/filings/0000950170-24-121370.md) | [0.2](/filings/0001193125-26-059296.md) | [0.2](/filings/0000950170-25-061595.md) | [0.1](/filings/0001193125-25-175239.md) | [0.1](/filings/0001193125-25-266435.md) | [0.2](/filings/0001193125-26-337729.md) | [0.1](/filings/0001193125-26-211698.md) | [0.1](/filings/0001193125-26-337729.md) |
| Current assets | $bn | [2.1](/filings/0000950170-23-058137.md) | [2.2](/filings/0000950170-25-023983.md) | [2.0](/filings/0000950170-24-051853.md) | [1.9](/filings/0000950170-24-089135.md) | [2.0](/filings/0000950170-24-121370.md) | [2.3](/filings/0001193125-26-059296.md) | [2.1](/filings/0000950170-25-061595.md) | [2.2](/filings/0001193125-25-175239.md) | [2.3](/filings/0001193125-25-266435.md) | [2.4](/filings/0001193125-26-337729.md) | [2.4](/filings/0001193125-26-211698.md) | [2.6](/filings/0001193125-26-337729.md) |
| Total assets | $bn | [20.2](/filings/0000950170-23-058137.md) | [20.7](/filings/0001193125-26-059296.md) | [20.8](/filings/0000950170-25-061595.md) | [21.3](/filings/0001193125-25-175239.md) | [21.9](/filings/0001193125-25-266435.md) | [22.7](/filings/0001193125-26-059296.md) | [22.8](/filings/0001193125-26-211698.md) | [23.5](/filings/0001193125-26-337729.md) | [24.2](/filings/0001193125-25-266435.md) | [25.2](/filings/0001193125-26-337729.md) | [27.1](/filings/0001193125-26-211698.md) | [28.5](/filings/0001193125-26-337729.md) |
| Current liabilities | $bn | [2.7](/filings/0000950170-23-058137.md) | [2.8](/filings/0000950170-25-023983.md) | [2.8](/filings/0000950170-24-051853.md) | [2.9](/filings/0000950170-24-089135.md) | [2.6](/filings/0000950170-24-121370.md) | [3.2](/filings/0001193125-26-059296.md) | [3.2](/filings/0000950170-25-061595.md) | [3.2](/filings/0001193125-25-175239.md) | [2.9](/filings/0001193125-25-266435.md) | [3.5](/filings/0001193125-26-337729.md) | [3.4](/filings/0001193125-26-211698.md) | [3.4](/filings/0001193125-26-337729.md) |
| Long-term debt | $bn | [12.9](/filings/0000950170-23-058137.md) | [13.0](/filings/0000950170-25-023983.md) | [13.1](/filings/0000950170-24-051853.md) | [13.6](/filings/0000950170-24-089135.md) | [14.3](/filings/0000950170-24-121370.md) | [14.2](/filings/0001193125-26-059296.md) | [16.2](/filings/0000950170-25-061595.md) | [16.9](/filings/0001193125-25-175239.md) | [17.4](/filings/0001193125-25-266435.md) | [17.4](/filings/0001193125-26-337729.md) | [19.1](/filings/0001193125-26-211698.md) | [19.6](/filings/0001193125-26-337729.md) |
| Current portion of debt | $bn | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Shareholders' equity | $bn | [2.5](/filings/0000950170-23-058137.md) | [2.7](/filings/0000950170-25-023983.md) | [2.7](/filings/0000950170-24-051853.md) | [2.5](/filings/0000950170-24-089135.md) | [2.6](/filings/0000950170-24-121370.md) | [2.6](/filings/0001193125-26-059296.md) | [2.5](/filings/0000950170-25-061595.md) | [2.6](/filings/0001193125-25-175239.md) | [2.7](/filings/0001193125-25-266435.md) | [3.1](/filings/0001193125-26-337729.md) | [3.1](/filings/0001193125-26-211698.md) | [3.7](/filings/0001193125-26-337729.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Long-term debt: us-gaap:LongTermDebt
- Current portion of debt: not reported
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [407 d](/filings/0000950170-24-121370.md) | [958 d](/filings/0001193125-26-059296.md) | [876](/filings/0000950170-25-061595.md) | [905 d](/filings/0001193125-25-175239.md) | [541 d](/filings/0001193125-25-266435.md) | [1,328 d](/filings/0001193125-26-059296.md) | [954](/filings/0001193125-26-211698.md) | [858 d](/filings/0001193125-26-337729.md) | [599 d](/filings/0001193125-25-266435.md) | [1,506 d](/filings/0001193125-26-059296.md) | [740](/filings/0001193125-26-211698.md) | [1,441 d](/filings/0001193125-26-337729.md) |
| Capital expenditure | $m | [592 d](/filings/0000950170-24-121370.md) | [720 d](/filings/0001193125-26-059296.md) | [670](/filings/0000950170-25-061595.md) | [740 d](/filings/0001193125-25-175239.md) | [829 d](/filings/0001193125-25-266435.md) | [727 d](/filings/0001193125-26-059296.md) | [792](/filings/0001193125-26-211698.md) | [906 d](/filings/0001193125-26-337729.md) | [672 d](/filings/0001193125-25-266435.md) | [963 d](/filings/0001193125-26-059296.md) | [900](/filings/0001193125-26-211698.md) | [1,010 d](/filings/0001193125-26-337729.md) |
| Dividends paid | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Share repurchases | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Dividends paid: not reported
- Share repurchases: not reported

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [230](/filings/0000950170-23-058137.md) | [229](/filings/0000950170-24-051853.md) | [227](/filings/0000950170-24-089135.md) | [225](/filings/0000950170-24-121370.md) | [224](/filings/0000950170-25-061595.md) | [222](/filings/0001193125-25-175239.md) | [220](/filings/0001193125-25-266435.md) | [219](/filings/0001193125-26-211698.md) | [217](/filings/0001193125-26-337729.md) | [216](/filings/0001193125-25-266435.md) | [216](/filings/0001193125-26-211698.md) | [215](/filings/0001193125-26-337729.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 214,431,021 at 2026-07-31, from the cover of the [10-Q filed 2026-08-06](/filings/0001193125-26-337729.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:38 ET. No prices; not investment advice.