Targa Resources (TRGP) Gross Margin (2017 - 2026)
Targa Resources (TRGP) recorded Gross Margin of 48.15% in Q2 2026, up 5.34 percentage points from 42.82% a year earlier and up 6.63 percentage points from the prior quarter.
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Analysis
Targa Resources (TRGP) Gross Margin (2017 - 2026) Analysis & Trends
On a TTM basis, Targa Resources' Gross Margin came in at 43.19% as of Jun 30, 2026, up 7.49 percentage points year-over-year; for FY2025, it was 38.29%, up 3.63 percentage points from FY2024.
- Annual Gross Margin has increased for four straight years, with a five-year change of +1.08 percentage points (FY2020 to FY2025).
- Across earlier years, Gross Margin came in at 34.66% in FY2024 (+1.14 pp), 33.52% in FY2023 (+14.18 pp), 19.34% in FY2022 (+0.34 pp) and 19.00% in FY2021 (-18.21 pp).
- The Q2 2026 figure is the highest quarterly Gross Margin in data going back to Q3 2017.
- On a year-over-year basis, Gross Margin has increased for five consecutive quarters, with an average year-over-year change of +5.25 percentage points over the last eight quarters.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 22.56 percentage points in Q2 2023, against a drop of 18.51 percentage points in Q3 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 41.52% (Q1 2026), 43.10% (Q4 2025) and 39.62% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 102.52 Bn | 100.06 Bn | 4.84 Bn | 22.85% |
| 2 | Enterprise Products Partners | 79.27 Bn | 77.71 Bn | - | - |
| 3 | Energy Transfer | 69.21 Bn | 62.65 Bn | 7.40 Bn | 21.55% |
| 4 | Kinder Morgan | 68.17 Bn | 69.12 Bn | 3.07 Bn | 68.62% |
| 5 | Tc Energy | 61.09 Bn | 64.16 Bn | 2.81 Bn | 98.16% |
| 6 | Targa Resources | 59.48 Bn | 59.10 Bn | 2.14 Bn | 48.15% |
| 7 | Mplx | 58.45 Bn | 52.01 Bn | 2.91 Bn | 87.77% |
| 8 | Oneok | 55.88 Bn | 54.37 Bn | 2.81 Bn | 23.30% |
| 9 | Cheniere Energy | 55.70 Bn | 55.83 Bn | 5.29 Bn | 92.34% |
| 10 | Venture Global | 32.11 Bn | 26.66 Bn | 2.92 Bn | 63.74% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 48.15% |
| Mar 31, 2026 | 41.52% |
| Dec 31, 2025 | 43.10% |
| Sep 30, 2025 | 39.62% |
| Jun 30, 2025 | 42.82% |
| Mar 31, 2025 | 28.58% |
| Dec 31, 2024 | 33.66% |
| Sep 30, 2024 | 38.60% |
| Jun 30, 2024 | 38.31% |
| Mar 31, 2024 | 29.47% |
| Dec 31, 2023 | 31.63% |
| Sep 30, 2023 | 30.97% |
| Jun 30, 2023 | 39.22% |
| Mar 31, 2023 | 33.22% |
| Dec 31, 2022 | 27.02% |
| Sep 30, 2022 | 19.66% |
| Jun 30, 2022 | 16.65% |
| Mar 31, 2022 | 15.22% |
| Dec 31, 2021 | 16.02% |
| Sep 30, 2021 | 18.95% |
API Access
Targa Resources Gross 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=gross-margin&ticker=TRGP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=TRGP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();