Targa Resources Corp.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $17.03B | $16.38B | $16.10B | $20.97B | $16.95B | $8.23B | $8.27B |
| Product Sales | — | — | — | $14.24B | $19.31B | $15.42B | $7.48B | $7.53B |
| Service Revenues | — | — | — | $1.86B | $1.66B | $1.54B | $753.1M | $741.0M |
| Cost of Revenue | — | $10.51B | $10.70B | $10.68B | $16.88B | $13.73B | $5.19B | $6.21B |
| Gross Profit | — | $6.52B | $5.68B | $5.42B | $4.08B | $3.22B | $3.04B | $2.55B |
| Gross Margin | — | 38.3% | 34.7% | 33.7% | 19.5% | 19.0% | 37.0% | 30.9% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | $406.0M | $384.9M | $348.7M | $309.7M | $273.2M | $254.6M | $280.7M |
| Operating Income | — | $3.33B | $2.70B | $2.63B | $1.73B | $864.8M | $-1.30B | $192.9M |
| Operating Margin | — | 19.6% | 16.5% | 16.3% | 8.2% | 5.1% | -15.8% | 2.3% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | — | $2.49B | $1.94B | $1.94B | $1.66B | $436.9M | $-1.57B | $-46.7M |
| Income Tax Expense | — | $529.7M | $384.5M | $363.2M | $131.8M | $14.8M | $-248.1M | $-87.9M |
| Net Income | — | $1.92B | $1.31B | $1.35B | $1.20B | $71.2M | $-1.55B | $-209.2M |
| Net Margin | — | 11.3% | 8.0% | 8.4% | 5.7% | 0.4% | -18.9% | -2.5% |
| EPS (Basic) | — | $8.52 | $5.77 | $3.69 | $3.95 | $-0.07 | $-7.26 | $-1.44 |
| EPS (Diluted) | — | $8.49 | $5.74 | $3.66 | $3.88 | $-0.07 | $-7.26 | $-1.44 |
| Shares Outstanding (Basic) | 215.0M | 216.1M | 220.2M | 224.6M | 227.3M | 228.6M | 232.2M | 232.5M |
| Shares Outstanding (Diluted) | 215.0M | 216.9M | 221.3M | 226.0M | 231.1M | 228.6M | 232.2M | 232.5M |
| Dividends Per Share | — | $3.75 | $2.75 | $1.85 | $1.40 | $0.40 | $1.21 | $3.64 |
People calculate too much and think too little.