Targa Resources (TRGP) Gross Margin (2014 - 2026)

Targa Resources' Gross Margin history runs 13 years deep, the most recent figure standing at 41.52% for Q1 2026.

• In Q1 2026, Gross Margin rose 1294.0% year-over-year to 41.52%; the TTM figure through Mar 2026 stood at 41.77% (up 2691.0% YoY), while the FY2025 annual figure was 38.29%, up 2418.0% from the prior year.
• Gross Margin came in at 41.52% for Q1 2026 at Targa Resources, down from 43.1% in the prior quarter.
• Over five years, Gross Margin peaked at 53.19% in Q4 2022 and troughed at 3.6% in Q1 2022.
• The 5-year median for Gross Margin is 12.96% (2023), against an average of 19.26%.
• The widest annual swing landed in 2023, when Gross Margin tumbled 5363 bps; it then soared 4008 bps in 2025.
• A 5-year view of Gross Margin shows it stood at 53.19% in 2022, then sank by 101 bps to 0.44% in 2023, then soared by 3166 bps to 13.6% in 2024, then jumped by 217 bps to 43.1% in 2025, then retreated by 4 bps to 41.52% in 2026.
• Per Business Quant data, the three most recent Gross Margin figures were 41.52% in Q1 2026, 43.1% in Q4 2025, and 39.62% in Q3 2025.