Targa Resources (TRGP) Cost of Revenue (2017 - 2026)
Targa Resources' Cost of Revenue was $2.3 billion in Q2 2026, down 5.5% from $2.44 billion a year earlier and down 3.9% from the prior quarter.
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Analysis
Targa Resources (TRGP) Cost of Revenue (2017 - 2026) Analysis & Trends
On a trailing twelve-month basis, Targa Resources' Cost of Revenue was $9.51 billion through Jun 30, 2026, down 13.4% year-over-year; for FY2025, it came in at $10.51 billion, down 1.8% from FY2024.
- Cost of Revenue shows a five-year compound annual growth rate of 15.2% (FY2020 to FY2025).
- In earlier years, Cost of Revenue was $10.7 billion in FY2024 (+0.2%), $10.68 billion in FY2023 (-36.8%), $16.88 billion in FY2022 (+23.0%) and $13.73 billion in FY2021 (+164.7%).
- The Q2 2026 figure marks the lowest quarterly Cost of Revenue since Q2 2024.
- Compared with a year earlier, Cost of Revenue has declined for three straight quarters, with an average decline of 5.8% over the last eight quarters.
- The best year-over-year quarter for Cost of Revenue over five years was Q3 2021 (growth of 173.2%); the worst was Q2 2023 (a decline of 59.0%).
- Per Business Quant data, TRGP's Cost of Revenue in the three quarters before Q2 2026 was $2.39 billion (Q1 2026), $2.31 billion (Q4 2025) and $2.51 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 100.40 Bn | 97.94 Bn | 4.84 Bn | 16.35 Bn |
| 2 | Williams Companies | 86.28 Bn | 85.00 Bn | 2.54 Bn | 515.00 Mn |
| 3 | Enterprise Products Partners | 78.15 Bn | 76.58 Bn | - | - |
| 4 | Energy Transfer | 70.55 Bn | 63.99 Bn | 7.40 Bn | 26.94 Bn |
| 5 | Kinder Morgan | 69.13 Bn | 70.08 Bn | 3.07 Bn | 1.41 Bn |
| 6 | Tc Energy | 61.50 Bn | 64.57 Bn | 2.81 Bn | 52.77 Mn |
| 7 | Targa Resources | 60.39 Bn | 60.01 Bn | 2.14 Bn | 2.30 Bn |
| 8 | Mplx | 57.19 Bn | 50.75 Bn | 2.91 Bn | 405.00 Mn |
| 9 | Cheniere Energy | 55.74 Bn | 55.87 Bn | 5.29 Bn | 439.00 Mn |
| 10 | Oneok | 55.40 Bn | 53.89 Bn | 2.81 Bn | 9.24 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.30 Bn |
| Mar 31, 2026 | 2.39 Bn |
| Dec 31, 2025 | 2.31 Bn |
| Sep 30, 2025 | 2.51 Bn |
| Jun 30, 2025 | 2.44 Bn |
| Mar 31, 2025 | 3.26 Bn |
| Dec 31, 2024 | 2.92 Bn |
| Sep 30, 2024 | 2.37 Bn |
| Jun 30, 2024 | 2.20 Bn |
| Mar 31, 2024 | 3.22 Bn |
| Dec 31, 2023 | 2.90 Bn |
| Sep 30, 2023 | 2.69 Bn |
| Jun 30, 2023 | 2.07 Bn |
| Mar 31, 2023 | 3.02 Bn |
| Dec 31, 2022 | 3.32 Bn |
| Sep 30, 2022 | 4.31 Bn |
| Jun 30, 2022 | 5.05 Bn |
| Mar 31, 2022 | 4.20 Bn |
| Dec 31, 2021 | 4.57 Bn |
| Sep 30, 2021 | 3.61 Bn |
API Access
Targa Resources Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=TRGP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "TRGP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=TRGP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();