Targa Resources (TRGP) FCF Margin (2014 - 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% sequentially from 13.37% in Q4 2025.
Targa Resources (TRGP) FCF Margin (2014 - 2026) Analysis & Trends
Targa Resources' FCF Margin history runs 13 years deep, the most recent figure standing at 3.91% for Q1 2026.
- In Q1 2026, FCF Margin fell 746.0% year-over-year to 3.91%; the TTM figure through Mar 2026 stood at 1.58% (down 232.0% YoY), while the FY2025 annual figure was 3.43%, down 74.0% from the prior year.
- FCF Margin came in at 3.91% for Q1 2026 at Targa Resources, down from 13.37% in the prior quarter.
- Over five years, FCF Margin peaked at 15.35% in Q1 2023 and troughed at 7.47% in Q3 2024.
- The 5-year median for FCF Margin is 3.56% (2025), against an average of 3.74%.
- Peak annual rise in FCF Margin reached 804 bps in 2024, while the deepest fall reached 1083 bps in 2024.
- A 5-year view of FCF Margin shows it stood at 0.41% in 2022, then soared by 1273 bps to 5.61% in 2023, then surged by 143 bps to 13.64% in 2024, then declined 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 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | -0.43% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 28.13% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 3.38% |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 5.26% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | -3.91% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 25.41% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 0.73% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 24.42% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | -52.58% |
| 10 | Plains All American Pipeline | 15.72 Bn | 15.54 Bn | 977.00 Mn | 2.31% |
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% |