Targa Resources (TRGP) EBITDA Margin (2014 - 2026)
Targa Resources (TRGP) recorded EBITDA Margin of 38.01% in Q2 2026, up 4.97 percentage points from 33.03% a year earlier and up 6.92 percentage points from the prior quarter.
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Analysis
Targa Resources (TRGP) EBITDA Margin (2014 - 2026) Analysis & Trends
On a TTM basis, Targa Resources' EBITDA Margin came in at 32.79% as of Jun 30, 2026, up 6.55 percentage points year-over-year; for FY2025, it came in at 28.46%, up 3.32 percentage points from FY2024.
- Annual EBITDA Margin has increased for five straight years, with a five-year change of +33.77 percentage points (FY2020 to FY2025).
- Across earlier years, EBITDA Margin came in at 25.14% in FY2024 (+0.51 pp), 24.63% in FY2023 (+11.13 pp), 13.50% in FY2022 (+3.26 pp) and 10.24% in FY2021 (+15.55 pp).
- The Q2 2026 figure is the highest quarterly EBITDA Margin in data going back to Q1 2014.
- On a year-over-year basis, EBITDA Margin has increased for five consecutive quarters, with an average year-over-year change of +4.67 percentage points over the last eight quarters.
- Peak year-over-year performance for EBITDA Margin in the last five years was a gain of 16.99 percentage points in Q4 2022, against a drop of 16.42 percentage points in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 31.09% (Q1 2026), 32.25% (Q4 2025) and 29.40% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 102.52 Bn | 100.06 Bn | 4.84 Bn | 14.80% |
| 2 | Enterprise Products Partners | 79.27 Bn | 77.71 Bn | - | 15.74% |
| 3 | Energy Transfer | 69.21 Bn | 62.65 Bn | 7.40 Bn | 15.00% |
| 4 | Kinder Morgan | 68.17 Bn | 69.12 Bn | 3.07 Bn | 43.91% |
| 5 | Tc Energy | 61.09 Bn | 64.16 Bn | 2.81 Bn | 153.90% |
| 6 | Targa Resources | 59.48 Bn | 59.10 Bn | 2.14 Bn | 38.01% |
| 7 | Mplx | 58.45 Bn | 52.01 Bn | 2.91 Bn | 52.63% |
| 8 | Oneok | 55.88 Bn | 54.37 Bn | 2.81 Bn | 16.43% |
| 9 | Cheniere Energy | 55.70 Bn | 55.83 Bn | 5.29 Bn | 81.47% |
| 10 | Venture Global | 32.11 Bn | 26.66 Bn | 2.92 Bn | 53.47% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 38.01% |
| Mar 31, 2026 | 31.09% |
| Dec 31, 2025 | 32.25% |
| Sep 30, 2025 | 29.40% |
| Jun 30, 2025 | 33.03% |
| Mar 31, 2025 | 19.97% |
| Dec 31, 2024 | 24.49% |
| Sep 30, 2024 | 28.13% |
| Jun 30, 2024 | 27.39% |
| Mar 31, 2024 | 21.48% |
| Dec 31, 2023 | 23.04% |
| Sep 30, 2023 | 21.46% |
| Jun 30, 2023 | 28.83% |
| Mar 31, 2023 | 25.69% |
| Dec 31, 2022 | 19.35% |
| Sep 30, 2022 | 13.38% |
| Jun 30, 2022 | 11.92% |
| Mar 31, 2022 | 10.18% |
| Dec 31, 2021 | 2.35% |
| Sep 30, 2021 | 13.21% |
API Access
Targa Resources EBITDA Margin 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=ebitda-margin&ticker=TRGP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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=ebitda-margin&ticker=TRGP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();