Operating Income for Targa Resources (TRGP)
According to Targa Resources's latest reported financial statements, the company's current operating income (TTM) is $3.45B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
TRGP
Currently viewingOperating IncomeSwitch metric
TTM (last 4 quarters)
$3.45B
YoY change
+17.1%
5Y CAGR
+22.2%
Peak year (2025)
$3.45B
Cumulative operating income
$18.08B
Operating Income history chart for Targa Resources (TRGP) from 2008 to 2025
Operating Income history table for Targa Resources (TRGP) from 2008 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $3.45B | +17.1% | ||
| 2024 | $2.94B | +34.6% | ||
| 2023 | $2.19B | -12.0% | ||
| 2022 | $2.48B | +36.5% | ||
| 2021 | $1.82B | +43.8% | ||
| 2020 | $1.27B | +555.9% | ||
| 2019 | $192.90M | -62.8% | ||
| 2018 | $518.30M | +61.4% | ||
| 2017 | $321.20M | +44.0% | ||
| 2016 | $223.00M | -38.1% | ||
| 2015 | $360.50M | -44.2% | ||
| 2014 | $645.50M | +81.3% | ||
| 2013 | $356.10M | +15.3% | ||
| 2012 | $308.90M | -12.1% | ||
| 2011 | $351.30M | +87.2% | ||
| 2010 | $187.70M | -14.4% | ||
| 2009 | $219.20M | -11.6% | ||
| 2008 | $247.90M | — |
Operating Income values are taken from Targa Resources's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
In 2025, Targa Resources (TRGP) operating income totalled $3.45B – grew 17.1% year-over-year.
Looking at the 2020–2025 (5 years) stretch, Targa Resources operating income compounded at +22.2% per year, sustaining 2 straight years of year-over-year growth.
2025 marks the peak operating income at $3.45B, with the historical low of $187.70M recorded in 2010.
Within Energy, Targa Resources (TRGP) ranks 9th among 8 peers we track. The peer median for operating income is $9.44B.
Targa Resources Operating Income by Year
Targa Resources Operating Income 2025: $3.45B
Targa Resources operating income in 2025 was $3.45B, grew 17.1% from 2024. This figure represents the highest annual value in the available history.
Targa Resources Operating Income 2024: $2.94B
Targa Resources operating income in 2024 was $2.94B, surged 34.6% from 2023.
Targa Resources Operating Income 2023: $2.19B
Targa Resources operating income in 2023 was $2.19B, declined 12.0% below 2022.
Targa Resources Operating Income 2022: $2.48B
Targa Resources operating income in 2022 was $2.48B, surged 36.5% from 2021.
Targa Resources Operating Income 2021: $1.82B
Targa Resources operating income in 2021 was $1.82B.
See more financial history for Targa Resources (TRGP).
Sector peers — Operating Income
Companies in the same sector as Targa Resources, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Exxon Mobil Corporation (XOM) | $33.94B | Energy |
| Chevron Corporation (CVX) | $16.67B | Energy |
| ConocoPhillips (COP) | $11.49B | Energy |
| Enbridge Inc. (ENB) | $10.96B | Energy |
| EOG Resources, Inc. (EOG) | $7.93B | Energy |
| SLB N.V. (SLB) | $5.46B | Energy |
| The Williams Companies, Inc. (WMB) | $4.40B | Energy |
| Valero Energy Corporation (VLO) | $4.31B | Energy |
Frequently asked questions
What is Targa Resources's operating income?
- Latest reported operating income for Targa Resources (TRGP) is $3.45B (period ending December 31, 2025).
How has Targa Resources operating income changed year-over-year?
- Targa Resources (TRGP) operating income changed +17.1% year-over-year on the latest annual filing.
What is the long-term growth rate of Targa Resources operating income?
- Targa Resources (TRGP) operating income compound annual growth rate is +22.2% over the most recent 5 years available.
When did Targa Resources operating income hit its highest annual value?
- Targa Resources operating income reached its highest annual value of $3.45B in 2025.
What was Targa Resources operating income in 2024?
- Targa Resources (TRGP) operating income in 2024 was $2.94B.
What was Targa Resources operating income in 2025?
- Targa Resources (TRGP) operating income in 2025 was $3.45B.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
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