Targa Res Corp Financials

TRGP

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Targa Res Corp (TRGP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 41/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Targa Res Corp has an operating margin of 16.4%, meaning the company retains $16 of operating profit per $100 of revenue. This strong profitability earns a score of 82/100, reflecting efficient cost management and pricing power. This is up from 16.4% the prior year.

Growth

Targa Res Corp's revenue grew a modest 2.0% year-over-year to $16.4B. This slow but positive growth earns a score of 34/100.

Leverage

Targa Res Corp has elevated debt relative to equity (D/E of 5.47), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

Targa Res Corp's current ratio of 0.72 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 9/100, which could limit financial flexibility.

Cash Flow

Targa Res Corp's free cash flow margin of 4.2% results in a low score of 21/100. Capital expenditures of $3.0B absorb a large share of operating cash flow.

Returns

100

Targa Res Corp earns a strong 50.6% return on equity (ROE), meaning it generates $51 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 49.1% the prior year.

Altman Z-Score Grey Zone

2.57

Targa Res Corp scores 2.57, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($48.1B) relative to total liabilities ($20.1B). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral

6/9

Targa Res Corp passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

2.78x

For every $1 of reported earnings, Targa Res Corp generates $2.78 in operating cash flow ($3.6B OCF vs $1.3B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$16.4B

YoY+2.0%

5Y CAGR+13.6%

Targa Res Corp generated $16.4B in revenue in fiscal year 2024. This represents an increase of 2.0% from the prior year.

EBITDA

$4.1B

YoY+4.1%

5Y CAGR+28.7%

10Y CAGR+15.3%

Targa Res Corp's EBITDA was $4.1B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 4.1% from the prior year.

Free Cash Flow

$683.9M

YoY-17.2%

Targa Res Corp generated $683.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 17.2% from the prior year.

Net Income

$1.3B

YoY-2.5%

10Y CAGR+29.1%

Targa Res Corp reported $1.3B in net income in fiscal year 2024. This represents a decrease of 2.5% from the prior year.

EPS (Diluted)

$5.74

YoY+56.8%

Targa Res Corp earned $5.74 per diluted share (EPS) in fiscal year 2024. This represents an increase of 56.8% from the prior year.

Cash & Debt

$157.3M

YoY+11.0%

5Y CAGR-13.8%

10Y CAGR+6.9%

Targa Res Corp held $157.3M in cash against $14.2B in long-term debt as of fiscal year 2024.

Dividends Per Share

$2.75

YoY+48.6%

5Y CAGR-5.5%

Targa Res Corp paid $2.75 per share in dividends in fiscal year 2024. This represents an increase of 48.6% from the prior year.

Shares Outstanding

218M

YoY-2.3%

5Y CAGR-1.3%

Targa Res Corp had 218M shares outstanding in fiscal year 2024. This represents a decrease of 2.3% from the prior year.

Gross Margin

34.7%

YoY+1.1pp

5Y CAGR+5.2pp

Targa Res Corp's gross margin was 34.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.1 percentage points from the prior year.

Operating Margin

16.4%

YoY+0.1pp

5Y CAGR+14.2pp

Targa Res Corp's operating margin was 16.4% in fiscal year 2024, reflecting core business profitability. This is up 0.1 percentage points from the prior year.

Net Margin

8.0%

YoY-0.4pp

5Y CAGR+10.4pp

Targa Res Corp's net profit margin was 8.0% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.4 percentage points from the prior year.

Return on Equity

50.6%

YoY+1.5pp

10Y CAGR-9.6pp

Targa Res Corp's ROE was 50.6% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.5 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$754.7M

YoY+102.0%

5Y CAGR+122.3%

10Y CAGR+76.3%

Targa Res Corp spent $754.7M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 102.0% from the prior year.

Capital Expenditures

$3.0B

YoY+24.3%

5Y CAGR+0.6%

10Y CAGR+14.6%

Targa Res Corp invested $3.0B in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 24.3% from the prior year.

TRGP Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$16.4B+2.0%	$16.1B-23.3%	$20.9B+23.5%	$16.9B+105.2%	$8.3B-4.7%	$8.7B
Cost of Revenue	$10.7B+0.2%	$10.7B-36.8%	$16.9B+23.0%	$13.7B+164.7%	$5.2B-16.5%	$6.2B
Gross Profit	$5.7B+5.5%	$5.4B+33.0%	$4.0B+25.7%	$3.2B+4.8%	$3.1B+20.4%	$2.6B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$384.9M+10.4%	$348.7M+12.6%	$309.7M+13.4%	$273.2M+7.3%	$254.6M-9.3%	$280.7M
Operating Income	$2.7B+2.6%	$2.6B+51.9%	$1.7B+99.9%	$864.8M+166.3%	-$1.3B-775.8%	$192.9M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$384.5M+5.9%	$363.2M+175.6%	$131.8M+790.5%	$14.8M+106.0%	-$248.1M-182.3%	-$87.9M
Net Income	$1.3B-2.5%	$1.3B+12.6%	$1.2B+1579.1%	$71.2M+104.6%	-$1.6B-642.8%	-$209.2M
EPS (Diluted)	$5.74+56.8%	$3.66-5.7%	$3.88+5642.9%	$-0.07+99.0%	$-7.26-404.2%	$-1.44

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$4.2B-2.6%	$4.3B-6.6%	$4.6B+3.5%	$4.4B+23.7%	$3.6B-21.9%	$4.6B+7.6%	$4.2B+8.8%	$3.9B
Cost of Revenue	$2.5B+2.9%	$2.4B-25.2%	$3.3B+11.5%	$2.9B+33.0%	$2.2B-31.7%	$3.2B+11.0%	$2.9B+7.8%	$2.7B
Gross Profit	$1.6B-9.8%	$1.8B+39.9%	$1.3B-12.1%	$1.5B+8.7%	$1.4B+1.5%	$1.3B+0.3%	$1.3B+11.1%	$1.2B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$104.8M+10.3%	$95.0M+0.5%	$94.5M-3.1%	$97.5M-0.8%	$98.3M+13.6%	$86.5M-9.2%	$95.3M+5.9%	$90.0M
Operating Income	$836.9M-19.0%	$1.0B+90.2%	$543.3M-22.5%	$700.6M+11.7%	$627.2M-1.9%	$639.4M+0.6%	$635.3M+25.8%	$505.1M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$134.3M-27.1%	$184.1M+155.0%	$72.2M-34.7%	$110.5M+17.2%	$94.3M+14.0%	$82.7M-19.4%	$102.6M+90.4%	$53.9M
Net Income	$478.4M-24.0%	$629.1M+132.6%	$270.5M-22.9%	$350.9M+17.6%	$298.5M+8.5%	$275.2M-8.1%	$299.6M+36.2%	$220.0M
EPS (Diluted)	$2.20-23.3%	$2.87+215.4%	$0.91-36.8%	$1.44+8.3%	$1.33+9.0%	$1.220.0%	$1.22+25.8%	$0.97

TRGP Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$22.7B+10.0%	$20.7B+5.7%	$19.6B+28.6%	$15.2B-4.2%	$15.9B-15.6%	$18.8B
Current Assets	$2.3B+4.6%	$2.2B-6.9%	$2.4B+33.2%	$1.8B+21.2%	$1.5B-11.9%	$1.7B
Cash & Equivalents	$157.3M+11.0%	$141.7M-35.3%	$219.0M+38.2%	$158.5M-34.7%	$242.8M-26.7%	$331.1M
Inventory	$334.3M-10.0%	$371.5M-5.7%	$393.8M+156.7%	$153.4M-15.5%	$181.5M+12.4%	$161.5M
Accounts Receivable	$1.6B+10.0%	$1.5B+4.4%	$1.4B+5.7%	$1.3B+54.4%	$862.8M+0.9%	$855.0M
Goodwill	$45.2M0.0%	$45.2M0.0%	$45.2M0.0%	$45.2M0.0%	$45.2M0.0%	$45.2M
Total Liabilities	$20.1B+12.3%	$17.9B+6.1%	$16.9B+28.0%	$13.2B-0.2%	$13.2B-4.8%	$13.9B
Current Liabilities	$3.2B+14.9%	$2.8B-10.0%	$3.1B+33.4%	$2.3B+29.2%	$1.8B-5.0%	$1.9B
Long-Term Debt	$14.2B+9.4%	$13.0B+12.3%	$11.5B+74.9%	$6.6B-14.9%	$7.8B-0.9%	$7.8B
Total Equity	$2.6B-5.4%	$2.7B+2.8%	$2.7B+32.5%	$2.0B-24.2%	$2.7B-46.1%	$4.9B
Retained Earnings	$1.2B+141.9%	$492.0M+178.5%	-$626.8M+65.6%	-$1.8B+3.8%	-$1.9B-457.6%	-$339.6M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$24.2B+2.8%	$23.5B+3.1%	$22.8B+0.3%	$22.7B+6.9%	$21.3B+2.0%	$20.8B+0.8%	$20.7B+2.4%	$20.2B
Current Assets	$2.3B+3.3%	$2.2B+6.3%	$2.1B-9.6%	$2.3B+23.0%	$1.9B-5.4%	$2.0B-10.1%	$2.2B+2.6%	$2.1B
Cash & Equivalents	$124.1M+9.7%	$113.1M-25.3%	$151.4M-3.8%	$157.3M-5.5%	$166.4M+51.4%	$109.9M-22.4%	$141.7M+1.6%	$139.5M
Inventory	$490.7M+10.6%	$443.5M+73.1%	$256.2M-23.4%	$334.3M+4.3%	$320.6M+42.8%	$224.5M-39.6%	$371.5M-30.7%	$536.2M
Accounts Receivable	$1.4B-0.1%	$1.4B+0.4%	$1.4B-13.3%	$1.6B+33.0%	$1.2B-18.0%	$1.5B+0.9%	$1.5B+18.5%	$1.2B
Goodwill	$45.2M0.0%	$45.2M0.0%	$45.2M0.0%	$45.2M0.0%	$45.2M0.0%	$45.2M0.0%	$45.2M	N/A
Total Liabilities	$21.5B+2.6%	$20.9B+2.8%	$20.3B+1.0%	$20.1B+7.2%	$18.8B+3.6%	$18.1B+1.2%	$17.9B+1.4%	$17.7B
Current Liabilities	$2.9B-7.2%	$3.2B-0.7%	$3.2B+0.8%	$3.2B+9.8%	$2.9B+2.7%	$2.8B+1.9%	$2.8B+2.9%	$2.7B
Long-Term Debt	$17.4B+3.4%	$16.9B+4.0%	$16.2B+14.4%	$14.2B+4.5%	$13.6B+3.9%	$13.1B+0.8%	$13.0B+0.3%	$12.9B
Total Equity	$2.7B+4.6%	$2.6B+5.6%	$2.5B-5.4%	$2.6B+5.1%	$2.5B-8.7%	$2.7B-1.3%	$2.7B+9.3%	$2.5B
Retained Earnings	$2.0B+15.3%	$1.7B+31.7%	$1.3B+8.8%	$1.2B+51.8%	$783.9M+19.8%	$654.1M+32.9%	$492.0M+61.0%	$305.5M

TRGP Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$3.6B+13.6%	$3.2B+34.9%	$2.4B+3.4%	$2.3B+32.0%	$1.7B+25.5%	$1.4B
Capital Expenditures	$3.0B+24.3%	$2.4B+78.8%	$1.3B+164.2%	$505.1M-46.9%	$951.6M-66.9%	$2.9B
Free Cash Flow	$683.9M-17.2%	$826.2M-21.1%	$1.0B-41.8%	$1.8B+126.7%	$792.9M+153.3%	-$1.5B
Investing Cash Flow	-$3.0B-25.8%	-$2.4B+42.1%	-$4.1B-776.9%	-$473.2M+35.9%	-$738.1M+76.0%	-$3.1B
Financing Cash Flow	-$612.8M+31.0%	-$888.1M-148.5%	$1.8B+195.6%	-$1.9B-74.8%	-$1.1B-161.5%	$1.8B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$754.7M+102.0%	$373.7M+66.2%	$224.8M+322.6%	$53.2M-45.4%	$97.4M+600.7%	$13.9M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$599.2M-30.2%	$858.3M-10.1%	$954.4M-28.1%	$1.3B+46.8%	$904.5M+3.2%	$876.4M-8.5%	$957.7M+135.1%	$407.3M
Capital Expenditures	$671.8M-25.9%	$906.1M+14.4%	$792.2M+9.0%	$726.9M-1.8%	$740.3M+10.5%	$669.8M-7.0%	$720.0M+21.7%	$591.7M
Free Cash Flow	-$72.6M-51.9%	-$47.8M-129.5%	$162.2M-73.0%	$601.0M+266.0%	$164.2M-20.5%	$206.6M-13.1%	$237.7M+228.9%	-$184.4M
Investing Cash Flow	-$691.1M+27.8%	-$956.8M-17.6%	-$813.3M-9.0%	-$746.3M+0.5%	-$749.8M-10.6%	-$677.9M+6.8%	-$727.0M-21.3%	-$599.2M
Financing Cash Flow	$102.9M+70.9%	$60.2M+141.0%	-$147.0M+73.3%	-$551.5M-461.6%	-$98.2M+57.4%	-$230.3M-0.8%	-$228.5M-241.0%	$162.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$155.6M-52.0%	$324.3M+159.6%	$124.9M+15.6%	$108.0M-69.6%	$355.1M+187.1%	$123.7M+935.8%	-$14.8M-109.6%	$153.6M

TRGP Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	34.7%+1.1pp	33.5%+14.2pp	19.3%+0.3pp	19.0%-18.2pp	37.2%+7.8pp	29.4%
Operating Margin	16.4%+0.1pp	16.4%+8.1pp	8.3%+3.2pp	5.1%+20.9pp	-15.8%-18.0pp	2.2%
Net Margin	8.0%-0.4pp	8.4%+2.7pp	5.7%+5.3pp	0.4%+19.2pp	-18.8%-16.4pp	-2.4%
Return on Equity	50.6%+1.5pp	49.1%+4.3pp	44.9%+41.3pp	3.5%	N/A	N/A
Return on Assets	5.8%-0.7pp	6.5%+0.4pp	6.1%+5.6pp	0.5%+10.3pp	-9.8%-8.7pp	-1.1%
Current Ratio	0.72-0.1	0.79+0.0	0.770.0	0.77-0.1	0.82-0.1	0.89
Debt-to-Equity	5.47+0.7	4.73+0.4	4.33+1.0	3.28+0.4	2.92+1.3	1.59
FCF Margin	4.2%-1.0pp	5.1%+0.1pp	5.0%-5.6pp	10.6%+1.0pp	9.6%+26.8pp	-17.2%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	39.6%-3.2pp	42.8%+14.2pp	28.6%-5.1pp	33.7%-4.6pp	38.3%+8.8pp	29.5%-2.2pp	31.6%+0.7pp	31.0%
Operating Margin	20.2%-4.1pp	24.3%+12.4pp	11.9%-4.0pp	15.9%-1.7pp	17.6%+3.6pp	14.0%-1.0pp	15.0%+2.0pp	13.0%
Net Margin	11.5%-3.3pp	14.8%+8.8pp	5.9%-2.0pp	8.0%-0.4pp	8.4%+2.4pp	6.0%-1.0pp	7.1%+1.4pp	5.7%
Return on Equity	17.7%-6.6pp	24.3%+13.3pp	11.0%-2.5pp	13.5%+1.4pp	12.1%+1.9pp	10.2%-0.8pp	10.9%+2.2pp	8.8%
Return on Assets	2.0%-0.7pp	2.7%+1.5pp	1.2%-0.3pp	1.5%+0.1pp	1.4%+0.1pp	1.3%-0.1pp	1.5%+0.4pp	1.1%
Current Ratio	0.77+0.1	0.69+0.0	0.65-0.1	0.72+0.1	0.65-0.1	0.70-0.1	0.790.0	0.80
Debt-to-Equity	6.44-0.1	6.51-0.1	6.61+1.1	5.47-0.0	5.50+0.7	4.83+0.1	4.73-0.4	5.16
FCF Margin	-1.8%-0.6pp	-1.1%-4.7pp	3.6%-10.1pp	13.6%+9.0pp	4.6%+0.1pp	4.5%-1.1pp	5.6%+10.3pp	-4.7%

Note: The current ratio is below 1.0 (0.72), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Targa Res Corp's annual revenue?

Targa Res Corp (TRGP) reported $16.4B in total revenue for fiscal year 2024. This represents a 2.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Targa Res Corp's revenue growing?

Targa Res Corp (TRGP) revenue grew by 2% year-over-year, from $16.1B to $16.4B in fiscal year 2024.

Is Targa Res Corp profitable?

Yes, Targa Res Corp (TRGP) reported a net income of $1.3B in fiscal year 2024, with a net profit margin of 8.0%.

What is Targa Res Corp's earnings per share (EPS)?

Targa Res Corp (TRGP) reported diluted earnings per share of $5.74 for fiscal year 2024. This represents a 56.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Targa Res Corp's EBITDA?

Targa Res Corp (TRGP) had EBITDA of $4.1B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Targa Res Corp have?

As of fiscal year 2024, Targa Res Corp (TRGP) had $157.3M in cash and equivalents against $14.2B in long-term debt.

What is Targa Res Corp's gross margin?

Targa Res Corp (TRGP) had a gross margin of 34.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Targa Res Corp's operating margin?

Targa Res Corp (TRGP) had an operating margin of 16.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Targa Res Corp's net profit margin?

Targa Res Corp (TRGP) had a net profit margin of 8.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Targa Res Corp pay dividends?

Yes, Targa Res Corp (TRGP) paid $2.75 per share in dividends during fiscal year 2024.

What is Targa Res Corp's return on equity (ROE)?

Targa Res Corp (TRGP) has a return on equity of 50.6% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Targa Res Corp's free cash flow?

Targa Res Corp (TRGP) generated $683.9M in free cash flow during fiscal year 2024. This represents a -17.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Targa Res Corp's operating cash flow?

Targa Res Corp (TRGP) generated $3.6B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Targa Res Corp's total assets?

Targa Res Corp (TRGP) had $22.7B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Targa Res Corp's capital expenditures?

Targa Res Corp (TRGP) invested $3.0B in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Targa Res Corp buy back shares?

Yes, Targa Res Corp (TRGP) spent $754.7M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Targa Res Corp have outstanding?

Targa Res Corp (TRGP) had 218M shares outstanding as of fiscal year 2024.

What is Targa Res Corp's current ratio?

Targa Res Corp (TRGP) had a current ratio of 0.72 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Targa Res Corp's debt-to-equity ratio?

Targa Res Corp (TRGP) had a debt-to-equity ratio of 5.47 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Targa Res Corp's return on assets (ROA)?

Targa Res Corp (TRGP) had a return on assets of 5.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Targa Res Corp's Altman Z-Score?

Targa Res Corp (TRGP) has an Altman Z-Score of 2.57, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Targa Res Corp's Piotroski F-Score?

Targa Res Corp (TRGP) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Targa Res Corp's earnings high quality?

Targa Res Corp (TRGP) has an earnings quality ratio of 2.78x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Targa Res Corp?

Targa Res Corp (TRGP) scores 41 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.