Targa Resources Corp. (TRGP) closed fiscal year 2025 with a gross margin of 38.3 % and a net margin of 11.3 %.
Targa Resources Corp. (TRGP) closed fiscal year 2025 with a gross margin of 38.3 % and a net margin of 11.3 %. The same year shows an EBITDA margin of 28.5 % and an EBIT margin of 19.6 %. The free cash flow margin was 3.4 %. Against the previous year the gross margin moved +3.6 pp and the net margin +3.3 pp. Across the period the gross margin ranges between 13.7 % in 2011 and 38.3 % in 2025. The series covers 17 fiscal years, from 2009 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | 13.66 % | — | — | — | — | 26.42 % | 21.65 % | 21.42 % | 29.44 % | 37.21 % | 19.00 % | 19.34 % | 33.52 % | 34.66 % | 38.29 % |
| EBITDA margin (%) | 8.53 % | 6.97 % | 7.61 % | — | — | — | — | 12.16 % | 7.79 % | 10.05 % | 13.43 % | -5.31 % | 10.24 % | 13.50 % | 24.63 % | 25.14 % | 28.46 % |
| EBIT margin (%) | 4.78 % | 3.58 % | 5.02 % | — | — | — | — | 0.83 % | -1.39 % | 2.27 % | 2.22 % | -15.78 % | 5.10 % | 8.26 % | 16.35 % | 16.45 % | 19.56 % |
| Net margin (%) | 0.65 % | -0.27 % | 0.44 % | — | — | — | — | -2.80 % | 0.61 % | 0.02 % | -2.41 % | -18.81 % | 0.42 % | 5.71 % | 8.38 % | 8.01 % | 11.29 % |
| FCF margin (%) | 5.20 % | 1.20 % | 0.68 % | — | — | — | — | 4.11 % | -4.06 % | -18.80 % | -17.16 % | 9.60 % | 10.61 % | 5.00 % | 5.14 % | 4.17 % | 3.43 % |
