Targa Resources Corp.
TRGPNYSEUtilities · Natural Gas Transmission · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $17.03B | $14.14B | $13.52B | $19.82B | $16.09B | $6.87B |
| Operating income | $3.33B | $2.70B | $2.63B | $1.73B | $864.8M | −$1.30B |
| Net income | $1.92B | $1.31B | $1.35B | $1.20B | $71.2M | −$1.55B |
| Total assets | $25.22B | $22.73B | $20.67B | $19.56B | $15.21B | $15.88B |
| Total liabilities | — | — | — | — | — | — |
| Equity | $3.07B | $2.59B | $2.74B | $2.67B | $2.01B | $2.65B |
| EPS (diluted) | $8.49 | $5.74 | $3.66 | $3.88 | $-0.07 | $-7.26 |
| Shares out. | 218.1M | 223.2M | 226.6M | 228.8M | 228.7M | 233.0M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- 19.6%
- Net margin
- 11.3%
- Return on equity
- 62.7%
- Return on assets
- 7.6%
- Return on capital (ROCE)
- 15.4%
- Liabilities / assets
- —
- Debt / equity
- —
- Book value / share
- $14.07
- Revenue growth (YoY)
- 20.5%
- Net income growth (YoY)
- 46.6%
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Accruals / assets
- −7.9%clean
- Piotroski F-Score
- 7/8strong
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 5 good- Operating margin is positive
- Strong return on equity (>15%)
- Revenue is growing year-over-year
- Positive operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Wellington Management Group LlpPassive (13G)May 15, 2026
- Vanguard Capital Management LlcPassive (13G)Apr 30, 2026
- Vanguard Portfolio Management LlcPassive (13G)Apr 29, 2026
- Vanguard Group IncPassive (13G)Mar 27, 2026
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 4.4M | 3.5 | -18.1% |
| Apr 30, 2026 | 5.4M | 4.4 | +16.3% |
| Apr 15, 2026 | 4.7M | 3.7 | +1.5% |
| Mar 31, 2026 | 4.6M | 2.8 | -0.2% |
| Mar 13, 2026 | 4.6M | 2.7 | +1.3% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Shareholder voteMay 22, 2026
- Results of operations · Regulation FD disclosureMay 7, 2026
- Entered a material agreement · New financial obligationMar 2, 2026
- Regulation FD disclosure · Other material eventFeb 26, 2026
- Results of operations · Regulation FD disclosureFeb 19, 2026
- Entered a material agreement · New financial obligationNov 12, 2025
- Regulation FD disclosure · Other material eventNov 7, 2025
- Results of operations · Regulation FD disclosureNov 5, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 8-KMay 22, 2026
- 4May 15, 2026
- SCHEDULE 13G/AMay 15, 2026
- 4May 13, 2026
- 4May 13, 2026
- 144May 12, 2026
- 10-QMay 7, 2026
- 8-KMay 7, 2026
- SCHEDULE 13GApr 30, 2026
- SCHEDULE 13GApr 29, 2026
- SCHEDULE 13G/AMar 27, 2026
- ARSMar 26, 2026
- DEFA14AMar 26, 2026
- DEF 14AMar 26, 2026
- 4Mar 6, 2026
Event-driven situations (1)
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