Targa Resources (TRGP) Invested Capital (2009 - 2026)
Targa Resources (TRGP) posted Invested Capital of $23.81 billion for Q3 2026, up 17.5% from $20.27 billion a year earlier and up 1.8% from the prior quarter.
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Analysis
Targa Resources (TRGP) Invested Capital (2009 - 2026) Analysis & Trends
For FY2025, Targa Resources' Invested Capital came in at $20.63 billion, up 11.0% from FY2024.
- Annual Invested Capital has increased for four consecutive years, with a five-year compound annual growth rate of 8.6% (FY2020 to FY2025).
- In prior years, Targa Resources' Invested Capital was $18.59 billion in FY2024 (+5.9%), $17.56 billion in FY2023 (+6.3%), $16.52 billion in FY2022 (+40.3%) and $11.78 billion in FY2021 (-13.8%).
- The Q3 2026 figure stands as the highest quarterly Invested Capital in data going back to Q4 2009.
- On a year-over-year basis, Invested Capital has increased in each of the last 17 quarters, with growth averaging 12.1% over the last eight quarters.
- The strongest year-over-year quarter for Invested Capital in the past five years was Q1 2023, with growth of 47.3%; the weakest was Q4 2021, with a decline of 13.8%.
- According to Business Quant data, Invested Capital for the three prior quarters was $23.37 billion (Q2 2026), $22.4 billion (Q1 2026) and $20.63 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | 130.05 Bn |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | 22.36 Bn |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 64.63 Bn |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 65.90 Bn |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | 61.79 Bn |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 118.50 Bn |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 23.81 Bn |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 35.90 Bn |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 41.30 Bn |
| 10 | Oneok | 56.58 Bn | 65.12 Bn | 2.84 Bn | 60.98 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 23.81 Bn |
| Jun 30, 2026 | 23.37 Bn |
| Mar 31, 2026 | 22.40 Bn |
| Dec 31, 2025 | 20.63 Bn |
| Sep 30, 2025 | 20.27 Bn |
| Jun 30, 2025 | 19.56 Bn |
| Mar 31, 2025 | 18.78 Bn |
| Dec 31, 2024 | 18.59 Bn |
| Sep 30, 2024 | 18.71 Bn |
| Jun 30, 2024 | 17.92 Bn |
| Mar 31, 2024 | 17.63 Bn |
| Dec 31, 2023 | 17.56 Bn |
| Sep 30, 2023 | 17.30 Bn |
| Jun 30, 2023 | 16.94 Bn |
| Mar 31, 2023 | 16.59 Bn |
| Dec 31, 2022 | 16.52 Bn |
| Sep 30, 2022 | 15.93 Bn |
| Jun 30, 2022 | 11.86 Bn |
| Mar 31, 2022 | 11.27 Bn |
| Dec 31, 2021 | 11.78 Bn |
API Access
Targa Resources Invested Capital 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=invested-capital&ticker=TRGP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=TRGP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();