Targa Resources (TRGP) FCF Margin (2011 - 2026)
Targa Resources' (TRGP) quarterly FCF Margin came in at 3.91% in Q1 2026, down 746.0% year-on-year from 0.6% in Q1 2025, and down 129.22% on a QoQ basis from 13.37% in Q4 2025.
Targa Resources (TRGP) FCF Margin (2011 - 2026) Analysis & Trends
Targa Resources (TRGP) has 16 years of FCF Margin data on file, last reported at 3.91% in Q1 2026.
- On a quarterly basis, FCF Margin fell 746.0% year-over-year to 3.91% in Q1 2026; TTM through Mar 2026 was 1.58%, a 232.0% decrease from a year earlier, with the FY2025 full-year figure at 3.43%, down 74.0% from the prior year.
- FCF Margin for Q1 2026 stood at 3.91%, down from 13.37% in the prior quarter.
- Over the last five years, FCF Margin for TRGP reached as high as 15.35% in Q1 2023 and fell as low as 7.47% in Q3 2024.
- Historically, FCF Margin has averaged 3.74% across 5 years, with a median of 3.56% in 2025.
- On a YoY basis, FCF Margin climbed as much as 804 bps in 2024 and fell as far as 1083 bps in 2024.
- Year by year, FCF Margin stood at 0.41% in 2022, then surged by 1273 bps to 5.61% in 2023, then jumped by 143 bps to 13.64% in 2024, then retreated by 2 bps to 13.37% in 2025, then slumped by 129 bps to 3.91% in 2026.
- Per Business Quant data, the three most recent FCF Margin figures were 3.91% in Q1 2026, 13.37% in Q4 2025, and 1.75% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | DHT Holdings | 2,706.13 Bn | 2,706.00 Bn | 167.16 Mn | 53.09% |
| 2 | Flex LNG | 1,674.16 Bn | 1,673.77 Bn | 61.79 Mn | 15.79% |
| 3 | Kinder Morgan | 112.74 Bn | 113.82 Bn | 3.07 Bn | 21.84% |
| 4 | Enbridge | 89.82 Bn | 89.03 Bn | 6.70 Bn | -0.43% |
| 5 | Enterprise Products Partners | 83.97 Bn | 82.82 Bn | - | 3.38% |
| 6 | Tc Energy | 72.76 Bn | 73.95 Bn | 1.36 Bn | 97.53% |
| 7 | Energy Transfer | 70.27 Bn | 69.30 Bn | 6.62 Bn | 5.26% |
| 8 | Targa Resources | 61.30 Bn | 61.34 Bn | 1.70 Bn | -3.91% |
| 9 | Oneok | 61.15 Bn | 61.02 Bn | 8.98 Bn | 0.73% |
| 10 | Mplx | 58.39 Bn | 56.89 Bn | 1.95 Bn | 32.87% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -3.91% |
| Dec 31, 2025 | 13.37% |
| Sep 30, 2025 | -1.75% |
| Jun 30, 2025 | -1.12% |
| Mar 31, 2025 | 3.56% |
| Dec 31, 2024 | 13.64% |
| Sep 30, 2024 | -7.47% |
| Jun 30, 2024 | 4.61% |
| Mar 31, 2024 | 4.53% |
| Dec 31, 2023 | 5.61% |
| Sep 30, 2023 | -4.73% |
| Jun 30, 2023 | 2.32% |
| Mar 31, 2023 | 15.35% |
| Dec 31, 2022 | 0.41% |
| Sep 30, 2022 | 1.19% |
| Jun 30, 2022 | 6.94% |
| Mar 31, 2022 | 10.97% |
| Dec 31, 2021 | 5.89% |
| Sep 30, 2021 | 8.35% |
| Jun 30, 2021 | 15.26% |