TTM
21.1%
YoY change
+2.41pp
Trough year (2019)
2.2%
Peak year (2025)
20.1%
Latest annual
20.1%
Operating Margin history chart for Targa Resources (TRGP) from 2008 to 2025
Latest: 20.1%
Operating Margin change chart for Targa Resources (TRGP) from 2008 to 2025
Latest: +2.41pp
Operating Margin history table for Targa Resources (TRGP) from 2008 to 2025
| 2025 | 20.1% | +2.41pp | ||
| 2024 | 17.7% | +3.71pp | ||
| 2023 | 14.0% | +2.55pp | ||
| 2022 | 11.5% | +1.02pp | ||
| 2021 | 10.4% | -4.86pp | ||
| 2020 | 15.3% | +13.07pp | ||
| 2019 | 2.2% | -2.69pp | ||
| 2018 | 4.9% | +1.29pp | ||
| 2017 | 3.6% | +0.27pp | ||
| 2016 | 3.4% | -2.12pp | ||
| 2015 | 5.5% | -2.00pp | ||
| 2014 | 7.5% | +2.03pp | ||
| 2013 | 5.4% | +0.16pp | ||
| 2012 | 5.3% | +0.27pp | ||
| 2011 | 5.0% | +1.59pp | ||
| 2010 | 3.4% | -1.40pp | ||
| 2009 | 4.8% | +1.73pp | ||
| 2008 | 3.1% | — |
- 202520.1%+2.41pp
- 202417.7%+3.71pp
- 202314.0%+2.55pp
- 202211.5%+1.02pp
- 202110.4%-4.86pp
- 202015.3%+13.07pp
- 20192.2%-2.69pp
- 20184.9%+1.29pp
- 20173.6%+0.27pp
- 20163.4%-2.12pp
- 20155.5%-2.00pp
- 20147.5%+2.03pp
- 20135.4%+0.16pp
- 20125.3%+0.27pp
- 20115.0%+1.59pp
- 20103.4%-1.40pp
- 20094.8%+1.73pp
- 20083.1%—
Operating Margin values are taken from Targa Resources's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at Targa Resources (TRGP)
According to Targa Resources's latest reported financial statements, the company's latest reported operating margin is 21.1%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
In 2025, Targa Resources (TRGP) operating margin totalled 20.11% – expanded 2.4 percentage points year-over-year.
Across the available history, operating margin reached its high of 20.11% in 2025 and its low of 2.22% in 2019.
Targa Resources Operating Margin by Year
Targa Resources Operating Margin 2025: 20.1%
2025's operating margin for Targa Resources came in at 20.11%, expanded 2.4 percentage points from 2024. This figure represents the highest annual value in the available history.
Targa Resources Operating Margin 2024: 17.7%
Targa Resources posted operating margin of 17.71% in 2024, expanded 3.7 percentage points from 2023.
Targa Resources Operating Margin 2023: 14.0%
In 2023, Targa Resources reported operating margin of 14.00%, expanded 2.5 percentage points from 2022.
Targa Resources Operating Margin 2022: 11.5%
Targa Resources operating margin in 2022 was 11.45%, expanded 1.0 percentage points from 2021.
Targa Resources Operating Margin 2021: 10.4%
Targa Resources operating margin in 2021 was 10.44%.
See more financial history for Targa Resources (TRGP).
Sector peers by Operating Margin
Energy peers of Targa Resources (TRGP), ranked by their latest operating margin
| 38.8% | |
| 18.3% | |
| 15.8% | |
| 14.4% | |
| 9.0% | |
| 8.4% | |
| 5.0% | |
| 4.6% |
- 18.3%
- 15.8%
- 14.4%
- 8.4%
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