Targa Resources Corp.

10-K & 10-Q Filings

Targa Resources Corp. is a publicly traded Delaware corporation formed in 2005 and is a leading provider of midstream services in North America. The company engages in the business of gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas, as well as transporting, storing, fractionating, terminaling, and purchasing and selling NGLs and NGL products, including services to LPG exporters, and gathering, storing, terminaling, and purchasing and selling crude oil. Targa operates in two primary segments: Gathering and Processing, and Logistics and Transportation. The company's assets are located in various regions including the Permian Basin, Eagle Ford Shale, Barnett Shale, Anadarko Basin, Ardmore, and Arkoma Basins, South Central Kansas, Williston Basin, and the Louisiana Gulf Coast and the Gulf of Mexico. Targa's website is [www.targaresources.com] and its ticker symbol is TRGP. The company provides a comprehensive package of midstream services, strategically located and leading infrastructure positions, high quality and efficient assets, and financial flexibility.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$6994.50
5885.70
6556.00
8469.40
6658.60
6690.90
8814.90
10484.00
8671.10
8260.30
16949.80
20929.80
16060.30
4520.50
4562.40
7.17%0.93%Cost of Revenue (-)
$6039.00
4879.00
5378.50
7046.90
4873.00
4922.90
6906.10
8238.20
6118.50
5105.10
13729.50
16882.10
10676.40
3019.00
3218.00
4.86%6.59%Gross Profit (+)
$955.50
1006.70
1177.50
1422.50
1785.60
1768.00
1908.80
2245.80
2552.60
3155.20
3220.30
4047.70
5383.90
1501.50
1344.40
15.50%-10.46%Selling, General & Administrative (-)
$136.10
139.80
151.50
148.00
161.70
187.20
203.40
256.90
280.70
254.60
273.20
309.70
348.70
82.40
86.50
8.16%4.98%Depreciation & Amortization (-)
$181.00
197.60
271.90
351.00
677.10
757.70
809.50
815.90
971.60
865.10
870.60
1096.00
1329.60
324.80
340.50
18.08%4.83%Non-recurring Operating Expenses (-)
$
290.00
207.00
378.00
210.00
243.20
2442.80
452.30
Operating Expenses (-)
$604.00
630.60
790.10
935.10
1640.50
1712.20
2031.20
2008.30
2290.40
4458.90
2355.50
2318.70
2757.70
664.80
705.00
13.49%6.05%Costs & Expenses (Total) (-)
$6643.40
5509.60
6168.60
7982.00
6513.50
6635.10
8937.30
10246.50
8408.90
9564.00
16085.00
19200.80
13434.10
3683.80
3923.00
6.04%6.49%Operating Income/Loss (+)
$351.10
336.30
368.20
640.50
159.30
55.80
-122.40
237.50
192.90
-1303.70
864.80
1729.00
2626.20
836.70
639.40
18.26%-23.58%Non-operating Income/Expense (+)
$2.60
-19.30
15.40
-2.40
-19.00
-61.30
63.20
-171.60
-239.60
-269.40
-427.90
-65.80
-683.70
-171.20
-224.10
-30.90%Interest Expense (-)
$-111.70
-120.80
-134.10
185.80
337.80
391.30
387.90
446.10
687.80
168.00
228.60
36.07%Earnings before Tax (+)
$242.00
196.20
249.50
491.00
-111.80
-259.70
-292.90
65.90
-46.70
-1573.10
436.90
1663.20
1942.50
665.50
415.30
18.95%-37.60%Tax Expense (-)
$-26.60
-36.90
-48.20
-68.00
-39.60
-100.60
-397.10
5.50
-87.90
-248.10
14.80
131.80
363.20
110.30
82.70
-25.02%Income/Loss (Continuing Operations) (+)
$268.60
233.10
297.70
559.00
-72.20
-159.10
104.20
60.40
41.20
-1325.00
422.10
1531.40
1579.30
555.20
332.60
15.91%-40.09%Profit/Loss (+)
$
-151.40
-159.10
104.20
60.40
41.20
-1325.00
422.10
1531.40
1579.30
555.20
332.60
-40.09%Net Income/Loss (NCI) (-)
$184.70
121.20
136.20
320.70
-209.70
28.20
50.20
58.80
250.40
228.90
350.90
335.90
233.40
58.20
57.40
1.97%-1.37%Net Income/Loss (+)
$30.70
38.10
65.10
102.30
58.30
-187.30
54.00
1.60
-209.20
-1553.90
71.20
1195.50
1345.90
497.00
275.20
37.03%-44.63%Preferred & Other Distributions (-)
$
72.60
91.70
91.70
91.70
91.70
87.30
30.00
Net Income/Loss (Common) (+)
$30.70
38.10
65.10
102.30
58.30
-278.10
-63.40
-119.30
-334.00
-1684.80
-16.10
896.80
835.80
6.30
275.20
31.70%4268.25%EPS (Basic)
$0.75
0.93
1.56
2.44
1.09
-1.80
-0.31
-0.53
-1.44
-7.26
-0.07
3.95
3.69
0.03
1.23
14.20%4000.00%EPS (Diluted)
$0.74
0.91
1.55
2.43
1.09
-1.80
-0.31
-0.53
-1.44
-7.26
-0.07
3.88
3.66
0.03
1.22
14.25%3966.67%Weighted Avg Shares (Basic)
41.00
41.00
41.60
42.00
53.50
154.40
206.90
224.20
232.50
232.20
228.60
227.30
224.60
226.40
222.80
15.23%-1.59%Weighted Avg Shares (Diluted)
41.40
41.80
42.10
42.10
53.60
154.40
206.90
224.20
232.50
232.20
228.60
231.10
226.00
229.30
223.70
15.19%-2.44%Cash
$145.80
76.30
66.70
81.00
140.20
73.50
137.20
232.10
331.10
242.80
158.50
219.00
141.70
211.80
109.90
-0.24%-48.11%Receivables
$575.70
514.90
658.80
567.30
515.80
674.60
827.60
865.50
855.00
862.80
1331.90
1408.40
1471.00
1023.40
1483.70
8.13%44.98%Inventory
$92.20
99.40
150.70
168.90
141.00
137.70
204.50
164.70
161.50
181.50
153.40
393.80
371.50
156.20
224.50
12.31%43.73%Other Assets (Current)
$52.80
42.70
21.00
65.40
123.00
121.00
100.60
156.60
310.70
173.20
126.00
335.40
210.40
247.40
154.90
12.21%-37.39%Assets (Current)
$866.50
733.30
897.20
882.60
920.00
1006.80
1269.90
1418.90
1658.30
1460.30
1769.80
2356.60
2194.60
1638.80
1973.00
8.05%20.39%Securities & Long-term Investments
$36.80
53.10
55.90
50.20
258.90
240.80
221.60
490.50
738.70
714.00
586.50
131.30
146.30
134.70
152.20
12.19%12.99%Property, Plant & Equipment (Net)
$2819.50
3538.00
4349.90
4824.60
9702.70
9691.00
10430.00
12928.40
14548.50
12173.60
11667.70
14214.60
15806.40
14470.00
16282.80
15.45%12.53%Accumulated Depreciation
$-1001.60
-1170.00
-1408.50
-1696.50
-2232.40
2827.70
3775.40
4292.30
5328.30
Goodwill & Intangibles
$
680.80
653.40
591.90
2227.10
1864.00
2422.40
2029.80
1780.20
1382.40
1094.80
2734.60
2350.60
2638.60
2257.30
-14.45%Other Assets
$1109.80
1269.80
1500.70
1800.70
2377.40
68.60
44.70
70.60
89.40
145.40
89.40
122.90
173.90
143.40
180.80
-14.31%26.08%Assets (Non-current)
$2964.50
4371.70
5151.40
5570.90
12333.70
11864.40
13118.70
15519.30
17156.80
14415.40
13438.40
17203.40
18477.20
17386.70
18873.10
16.47%8.55%Assets (Total)
$3831.00
5105.00
6048.60
6453.50
13253.70
12871.20
14388.60
16938.20
18815.10
15875.70
15208.20
19560.00
20671.80
19025.50
20846.10
15.08%9.57%Accounts Payable
$700.00
679.00
761.80
638.50
657.10
843.50
1186.90
1737.30
1379.90
1152.80
1813.00
1896.10
2086.20
1571.00
2191.60
9.53%39.50%Other Liabilities (Current)
$41.10
7.60
8.60
188.60
224.50
324.10
429.70
1061.50
492.70
626.60
485.50
1170.60
674.70
895.60
622.90
26.26%-30.45%Liabilities (Current)
$741.10
686.60
770.40
827.10
881.60
1167.60
1616.60
2798.80
1872.60
1779.40
2298.50
3066.70
2760.90
2466.60
2814.50
11.58%14.10%Securities (Liabilities)
$
219.30
275.00
Debt (Non-current)
$1567.00
2475.30
2989.30
2885.40
5761.50
4606.00
4703.00
5632.40
7440.20
7387.10
6434.40
10702.10
12333.20
11439.60
12509.90
18.76%9.36%Other Liabilities
$192.20
189.70
197.60
201.50
360.40
1373.20
1313.00
1036.20
1059.40
806.00
1296.60
809.00
967.70
707.10
944.10
14.42%33.52%Liabilities (Non-current)
$1759.20
2665.00
3186.90
3086.90
6121.90
5979.20
6016.00
6668.60
8499.60
8193.10
7731.00
11511.10
13300.90
12146.70
13454.00
18.36%10.76%Liabilities (Total)
$2500.30
3351.60
3957.30
3914.00
7003.50
7146.80
7632.60
9467.40
10372.20
9972.50
10029.50
14577.80
16061.80
14613.30
16268.50
16.77%11.33%Treasury Stock
$
-9.50
-22.80
-25.40
-28.70
32.20
35.60
39.60
53.50
150.90
204.10
464.70
896.90
550.50
1057.70
92.13%Retained Earnings
$-70.10
-32.00
20.50
25.50
26.90
-187.30
-77.20
-130.40
-339.60
-1893.50
-1822.30
-626.80
492.00
-129.80
654.10
603.93%AOCI
$-1.30
1.20
-0.50
4.80
5.70
-38.30
-29.90
94.30
92.50
-141.80
-230.90
54.70
85.60
84.80
33.90
-60.02%Shareholder's Equity
$1330.70
1753.40
2091.30
2539.50
6250.20
5724.40
6756.00
7470.80
8442.90
5903.20
5178.70
4982.20
4610.00
4412.20
4577.60
10.91%3.75%Liabilities & Equity
$3831.00
5105.00
6048.60
6453.50
13253.70
12871.20
14388.60
16938.20
18815.10
15875.70
15208.20
19560.00
20671.80
19025.50
20846.10
15.08%9.57%Net Income/Loss
$
-151.40
-159.10
104.20
60.40
41.20
-1325.00
422.10
1531.40
1579.30
555.20
332.60
-40.09%Depreciation & Amortization
$194.00
215.80
287.80
362.80
692.40
772.60
821.00
826.70
981.90
876.20
880.90
1106.50
1342.80
328.00
344.20
17.49%4.94%Increase/Decrease in Working Capital
$-245.00
217.40
-311.70
158.70
464.70
75.90
30.10
-37.10
-11.10
-59.30
-205.80
364.00
-139.20
-338.70
-78.90
76.71%Share-based Compensation
$15.20
17.50
13.20
14.30
25.00
29.70
42.30
56.30
60.30
66.20
59.20
57.50
62.40
15.00
14.60
12.49%-2.67%Adjustments to Reconcile Net Income
$490.70
-3.10
621.00
206.20
1186.10
996.50
835.30
1083.60
1348.60
3069.50
1880.80
849.40
1632.30
614.60
543.80
10.53%-11.52%Net Cash (Operating)
$379.30
428.20
382.70
761.80
1034.70
837.40
939.50
1144.00
1389.80
1744.50
2302.90
2380.80
3211.60
1169.80
876.40
19.48%-25.08%Capital Expenditure
$-331.90
-1578.90
-1013.60
-762.20
-2391.60
562.10
1868.30
2857.90
2792.70
752.90
492.90
3958.20
2380.70
475.50
668.90
40.67%Net Cash (Investing)
$-509.30
-1590.70
-1026.30
-751.40
-2399.60
-558.60
-1892.70
-3146.90
-3071.90
-738.10
-473.20
-4149.70
-2400.80
-480.80
-677.90
-40.99%Increase/Decrease in Debt
$
4285.70
4726.10
5515.50
8020.00
-1091.50
156.90
1610.00
1129.10
-23.00
-1179.50
-25807.10
-57666.70
-13908.80
-13925.80
-0.12%Increase/Decrease in Equity
$304.20
519.10
553.30
429.60
838.00
1500.00
2631.00
1658.40
-35.50
-107.30
-62.80
-306.30
-465.60
-89.90
-160.20
-78.20%Dividends Paid
$-38.20
-62.20
-87.80
-113.00
-179.00
592.60
891.30
979.00
Net Cash (Financing)
$87.40
1093.00
634.00
3.90
1424.10
-345.50
1016.90
2097.80
1781.10
-1094.70
-1914.00
1829.40
-888.10
-696.20
-230.30
66.92%Increase/Decrease in Cash
$-42.60
-69.50
-9.60
14.30
59.20
-66.70
63.70
99.00
-88.30
-84.30
60.50
-77.30
-7.20
-31.80
-341.67%Cash (Beginning)
$188.40
145.80
76.30
66.70
81.00
140.20
73.50
137.20
232.10
331.10
242.80
158.50
219.00
219.00
141.70
1.26%-35.30%Cash (Ending)
$145.80
76.30
66.70
81.00
140.20
73.50
137.20
232.10
331.10
242.80
158.50
219.00
141.70
211.80
109.90
-0.24%-48.11%NOPAT
$312.51
273.05
297.07
551.80
215.72
77.42
-288.34
217.68
-170.18
-1509.31
835.50
1591.99
2135.16
698.03
512.07
17.37%-26.64%Gross Margin %
13.66%
17.10%
17.96%
16.80%
26.82%
26.42%
21.65%
21.42%
29.44%
38.20%
19.00%
19.34%
33.52%
33.22%
29.47%
Operating Margin %
5.02%
5.71%
5.62%
7.56%
2.39%
0.83%
-1.39%
2.27%
2.22%
-15.78%
5.10%
8.26%
16.35%
18.51%
14.01%
NOPAT Margin %
4.47%
4.64%
4.53%
6.52%
3.24%
1.16%
-3.27%
2.08%
-1.96%
-18.27%
4.93%
7.61%
13.29%
15.44%
11.22%
Net Margin %
0.44%
0.65%
0.99%
1.21%
0.88%
-2.80%
0.61%
0.02%
-2.41%
-18.81%
0.42%
5.71%
8.38%
10.99%
6.03%
Tax Rate %
10.99%
18.81%
19.32%
13.85%
-35.42%
-38.74%
-135.58%
8.35%
188.22%
-15.77%
3.39%
7.92%
18.70%
16.57%
19.91%
ROA
8.16%
5.35%
4.91%
8.55%
1.63%
0.60%
-2.00%
1.29%
-0.90%
-9.51%
5.49%
8.14%
10.33%
3.67%
2.46%
ROE
23.48%
15.57%
14.20%
21.73%
3.45%
1.35%
-4.27%
2.91%
-2.02%
-25.57%
16.13%
31.95%
46.32%
15.82%
11.19%
ROIC
10.73%
6.46%
5.81%
10.03%
1.80%
0.68%
-2.28%
1.56%
-1.06%
-11.28%
6.76%
9.65%
12.05%
4.24%
2.87%
Asset Turnover
1.83
1.15
1.08
1.31
0.50
0.52
0.61
0.62
0.46
0.52
1.11
1.07
0.78
0.24
0.22
Inventory Turnover
65.50
49.08
35.69
41.72
34.56
35.75
33.77
50.02
37.89
28.13
89.50
42.87
28.74
19.33
14.33
Equity Multiplier
2.88
2.91
2.89
2.54
2.12
2.25
2.13
2.27
2.23
2.69
2.94
3.93
4.48
4.31
4.55
Current Ratio
1.17
1.07
1.16
1.07
1.04
0.86
0.79
0.51
0.89
0.82
0.77
0.77
0.79
0.66
0.70
Quick Ratio
0.97
0.86
0.94
0.78
0.74
0.64
0.60
0.39
0.63
0.62
0.65
0.53
0.58
0.50
0.57
Debt/Equity Ratio
1.18
1.41
1.43
1.14
0.92
0.80
0.70
0.75
0.88
1.25
1.24
2.15
2.68
2.59
2.73
Working Capital/Sales
0.01
0.00
0.02
0.01
0.00
-0.02
-0.03
-0.10
-0.03
-0.02
-0.02
-0.02
-0.03
-0.14
-0.15
Dividend Payout Ratio %
-12.22%
-22.78%
-29.56%
-20.48%
-82.98%
765.48%
309.11%
449.75%
Total Payout
$-342.40
-4867.00
-5367.20
-6058.10
-9037.00
184.10
-1896.60
-2289.40
-1093.60
130.30
1242.30
26113.40
58132.30
13998.70
14086.00
0.62%Payout Ratio %
-109.57%
-1782.45%
-1806.72%
-1097.89%
-4189.14%
237.81%
-657.76%
-1051.74%
-642.61%
8.63%
148.69%
1640.30%
2722.61%
2005.47%
2750.77%