Targa Resources (TRGP) EBITDA Margin (2014 - 2026)
Targa Resources' (TRGP) quarterly EBITDA Margin came in at 28.57% in Q1 2026, up 1038.0% year-on-year from 2.51% in Q1 2025, and up 173.2% sequentially from 39.03% in Q4 2025.
Targa Resources (TRGP) EBITDA Margin (2014 - 2026) Analysis & Trends
Targa Resources' EBITDA Margin history runs 13 years deep, the most recent figure standing at 28.57% for Q1 2026.
- In Q1 2026, EBITDA Margin rose 1038.0% year-over-year to 28.57%; the TTM figure through Mar 2026 stood at 12.39% (down 1013.0% YoY), while the FY2025 annual figure was 10.05%, down 1281.0% from the prior year.
- EBITDA Margin came in at 28.57% for Q1 2026 at Targa Resources, up from 39.03% in the prior quarter.
- Over five years, EBITDA Margin peaked at 31.12% in Q2 2025 and troughed at 39.03% in Q4 2025.
- The 5-year median for EBITDA Margin is 19.43% (2024), against an average of 14.45%.
- The widest annual swing landed in 2024, when EBITDA Margin surged 5393 bps; it then sank 6140 bps in 2025.
- A 5-year view of EBITDA Margin shows it stood at 17.03% in 2022, then tumbled by 285 bps to 31.55% in 2023, then soared by 171 bps to 22.38% in 2024, then tumbled by 274 bps to 39.03% in 2025, then soared by 173 bps to 28.57% in 2026.
- Per Business Quant data, the three most recent EBITDA Margin figures were 28.57% in Q1 2026, 39.03% in Q4 2025, and 27.44% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 14.43% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 29.91% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 13.17% |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 10.74% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 28.57% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 50.33% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 14.85% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 14.83% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 30.44% |
| 10 | Plains All American Pipeline | 15.72 Bn | 15.54 Bn | 977.00 Mn | 3.25% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 28.57% |
| Dec 31, 2025 | -39.03% |
| Sep 30, 2025 | 27.44% |
| Jun 30, 2025 | 31.12% |
| Mar 31, 2025 | 18.18% |
| Dec 31, 2024 | 22.38% |
| Sep 30, 2024 | 25.71% |
| Jun 30, 2024 | 24.78% |
| Mar 31, 2024 | 19.43% |
| Dec 31, 2023 | -31.55% |
| Sep 30, 2023 | 19.00% |
| Jun 30, 2023 | 26.01% |
| Mar 31, 2023 | 23.57% |
| Dec 31, 2022 | 17.03% |
| Sep 30, 2022 | 11.87% |
| Jun 30, 2022 | 11.46% |
| Mar 31, 2022 | 9.62% |
| Dec 31, 2021 | 1.75% |
| Sep 30, 2021 | 12.48% |
| Jun 30, 2021 | 12.44% |