How does Targa Resources (TRGP) make money?

Targa Resources (TRGP) generates revenue primarily from Logistics And Transportation, which accounted for 66.4% of total revenue in TTM through Q1 2026. The company reported $16.38B in revenue and converted 13% of it into net profit, equivalent to roughly $2.13B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Targa Resources (TRGP)?

Targa Resources (TRGP) reported a gross profit margin of 29.9% in TTM through Q1 2026, equivalent to $4.89B in gross profit on $16.38B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Targa Resources (TRGP)?

Targa Resources (TRGP) reported an operating profit margin of 21.1% in TTM through Q1 2026, equivalent to $3.46B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Targa Resources (TRGP)?

Targa Resources (TRGP) reported a net profit margin of 13% in TTM through Q1 2026, equivalent to $2.13B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Targa Resources (TRGP) profitable?

Yes. Targa Resources (TRGP) reported $2.13B in net income for TTM through Q1 2026, with a net profit margin of 13%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Targa Resources (TRGP) spend on capital expenditures?

Targa Resources (TRGP) spent $3.44B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 21.0% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Targa Resources (TRGP) generate?

Targa Resources (TRGP) generated $261.90M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 1.6%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Targa Resources (TRGP)?

Targa Resources (TRGP) had an effective tax rate of 21.2% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Targa Resources (TRGP)?

Targa Resources (TRGP) reports revenue across 2 reportable product segments, led by Logistics And Transportation at 66.3% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Targa Resources (TRGP) generate most of its revenue?

Logistics And Transportation is the largest geographic market for Targa Resources (TRGP), accounting for 66.3% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Targa Resources Makes Money: 2026 Visual Revenue Map

Targa Resources (TRGP) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 7, 2026).

Targa Resources (TRGP) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Targa Resources (TRGP) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Logistics And Transportation	$10.86B	66.3%
Gathering And Processing	$5.52B	33.7%
Total	$16.38B	100%

Logistics And Transportation$10.86B
Gathering And Processing$5.52B
Total$16.38B

Targa Resources (TRGP) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Targa Resources (TRGP), TTM through Q1 2026
Region	Revenue (USD)	% of total
Logistics And Transportation	$13.77B	66.3%
Gathering And Processing	$7.00B	33.7%
Total	$20.78B	100%

Logistics And Transportation
Gathering And Processing
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Targa Resources (TRGP) reports revenue across 2 operating segments; the largest segment was Logistics And Transportation at 66.3%, followed by Gathering And Processing (33.7%). Separately, by end-market geography, Logistics And Transportation accounted for 66.3% of revenue, followed by Gathering And Processing (33.7%).

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