Targa Resources (TRGP) Gross Margin (2017 - 2026)
Targa Resources (TRGP) posted quarterly Gross Margin of 41.52% for Q1 2026, up 1294.0% year-over-year from 2.98% in Q1 2025, and down 3.66% quarter-over-quarter from 43.1% in Q4 2025.
Targa Resources (TRGP) Gross Margin (2017 - 2026) Analysis & Trends
Targa Resources (TRGP) has reported Gross Margin for 10 consecutive years, with 41.52% the latest figure, recorded in 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 735.0% YoY), while the FY2025 annual figure was 38.29%, up 363.0% from the prior year.
- Gross Margin declined to 41.52% in Q1 2026 per TRGP's latest filing, from 43.1% in the prior quarter.
- Across five years, Gross Margin topped out at 43.1% in Q4 2025 and bottomed at 15.22% in Q1 2022.
- Historically, Gross Margin has averaged 32.31% across 5 years, with a median of 33.22% in 2023.
- Annual changes were most pronounced in 2022 — Gross Margin slumped 670 bps — and 2023, when it surged 2256 bps.
- Targa Resources' Gross Margin stood at 27.02% in 2022, then gained by 17 bps to 31.63% in 2023, then advanced by 6 bps to 33.66% in 2024, then rose by 28 bps to 43.1% in 2025, then declined by 4 bps to 41.52% in 2026.
- Business Quant data shows TRGP's Gross Margin at 41.52% in Q1 2026, 43.1% in Q4 2025, and 39.62% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 112.04 Bn | 113.17 Bn | 3.07 Bn | 68.62% |
| 2 | Enbridge | 111.19 Bn | 111.69 Bn | 5.23 Bn | 24.69% |
| 3 | Enterprise Products Partners | 83.98 Bn | 83.12 Bn | - | - |
| 4 | Energy Transfer | 72.48 Bn | 71.45 Bn | 7.40 Bn | 21.55% |
| 5 | Tc Energy | 66.71 Bn | 66.18 Bn | 1.24 Bn | 95.91% |
| 6 | Mplx | 60.30 Bn | 59.27 Bn | 2.73 Bn | 82.28% |
| 7 | Oneok | 59.88 Bn | 59.82 Bn | 2.81 Bn | 23.30% |
| 8 | Targa Resources | 59.14 Bn | 59.14 Bn | 2.14 Bn | 48.15% |
| 9 | Cheniere Energy | 56.12 Bn | 60.17 Bn | 5.29 Bn | 92.34% |
| 10 | Venture Global | 34.82 Bn | 35.11 Bn | 2.92 Bn | 63.74% |
Historic Data
Download 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% |