Targa Resources Corp. (TRGP)

From the record

Targa Resources Corp.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

From the record

Targa Resources Corp.'s 10 filed years say what it did: revenue went from $5.6 billion in fiscal 2016 to $17 billion in fiscal 2025, up 13.2% a year; it rose in 6 of 9 years; the deepest fall was 23% from fiscal 2022 to fiscal 2023; net income was positive in 7 of 10 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, Targa Resources Corp.'s diluted share count shrank about 2.1% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 25 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Targa Resources Corp. earned about 60 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 26 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 87 cents per dollar of assets, and net share issuance: its share count shrank 2.0% over the year (the filed statements).

From the record

Targa Resources Corp.'s standing among 16 graded names in its industry family: revenue of $17 billion in fiscal 2025 ranks in the top 12% by size; a net margin of 11.3% ranks in the bottom 34%; revenue growth of -6.6% a year over the last 3 filed years ranks in the bottom 9% (its annual reports).

From the record

Targa Resources Corp.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Meloy, Matthew J (Chief Executive Officer, as filed), filing under that title since 2020-03-03, 6.7 years (top 35% of its family); the 21 officers and directors filing in the last fifteen months have been on the record a median of 8.7 years (top 35%); 8 officer or director changes were reported on Form 8-K since 2023-11-13, against the 21 people in charge now (bottom 35%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Targa Resources Corp.'s room to grow, from the newest filed statements (fiscal 2025): cash of $166 million against debt of $17 billion leaves -68.5% of its assets as net cash, bottom 16% of its family; cash from operations less capital spending is 3.4% of revenue (bottom 3%); a gross margin of 38.3% (bottom 36%) (its annual report).

From the record

Targa Resources Corp.'s growth drivers, from the filed years to fiscal 2025: revenue grew -6.6% a year over the last three filed years against 13.2% over all 10, slowing (bottom 22% of its family); the newest year grew 4% (bottom 22%); capital spending grew 35.7% a year (top 10%) (its annual reports). Targa Resources Corp. reported 2 product lines in fiscal 2025: Product at $14 billion (85%), Service at $2.6 billion (15%); 2 of 2 grew against the year before (its annual report).

From the record

Targa Resources Corp.'s newest year against its own record: revenue of $17 billion in fiscal 2025 came in 17.5% above the $14 billion its prior three years' pace pointed to (top 17% of its family); net income of $1.9 billion against a prior three-year average of $1.3 billion (top 30%); a net margin of 11.3% against 7.4% before (top 23%) (its annual reports).