Targa Resources (TRGP) Operating Expenses (2010 - 2026)
Targa Resources (TRGP) recorded Operating Expenses of $354.1 million in Q2 2026, up 9.4% from $323.6 million a year earlier and up 6.1% from the prior quarter.
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Analysis
Targa Resources (TRGP) Operating Expenses (2010 - 2026) Analysis & Trends
On a TTM basis, Targa Resources' Operating Expenses came in at $1.36 billion as of Jun 30, 2026, up 10.1% year-over-year; for FY2025, it was $1.3 billion, up 10.4% from FY2024.
- Annual Operating Expenses has increased for five straight years, with a five-year compound annual growth rate of 13.2% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $1.18 billion in FY2024 (+9.1%), $1.08 billion in FY2023 (+18.1%), $912.8 million in FY2022 (+22.2%) and $747 million in FY2021 (+7.0%).
- The Q2 2026 figure is the highest quarterly Operating Expenses since Q1 2015.
- On a year-over-year basis, Operating Expenses has increased for 21 consecutive quarters, with growth averaging 10.4% over the last eight quarters.
- Over the past five years, the year-over-year growth in Operating Expenses ranged from 5.3% (Q4 2021) to 40.7% (Q1 2023).
- Per Business Quant, the preceding three quarters came in at $333.7 million (Q1 2026), $337.6 million (Q4 2025) and $333.5 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 103.77 Bn | 99.37 Bn | 4.84 Bn | 19.09 Bn |
| 2 | Williams Companies | 82.09 Bn | 79.12 Bn | 2.59 Bn | 2.09 Bn |
| 3 | Enterprise Products Partners | 79.54 Bn | 77.90 Bn | - | 16.05 Bn |
| 4 | Kinder Morgan | 68.06 Bn | 66.91 Bn | 2.97 Bn | 3.37 Bn |
| 5 | Energy Transfer | 65.76 Bn | 61.59 Bn | 6.57 Bn | 34.32 Bn |
| 6 | Tc Energy | 65.61 Bn | 62.37 Bn | - | 50.00 Mn |
| 7 | Cheniere Energy | 59.35 Bn | 53.50 Bn | 2.97 Bn | 4.26 Bn |
| 8 | Targa Resources | 58.38 Bn | 57.84 Bn | 2.02 Bn | 372.30 Mn |
| 9 | Mplx | 57.68 Bn | 51.71 Bn | 3.19 Bn | 2.13 Bn |
| 10 | Oneok | 54.21 Bn | 53.62 Bn | 2.84 Bn | 15.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 372.30 Mn |
| Jun 30, 2026 | 354.10 Mn |
| Mar 31, 2026 | 333.70 Mn |
| Dec 31, 2025 | 337.60 Mn |
| Sep 30, 2025 | 333.50 Mn |
| Jun 30, 2025 | 323.60 Mn |
| Mar 31, 2025 | 303.60 Mn |
| Dec 31, 2024 | 305.90 Mn |
| Sep 30, 2024 | 301.00 Mn |
| Jun 30, 2024 | 290.70 Mn |
| Mar 31, 2024 | 278.00 Mn |
| Dec 31, 2023 | 269.50 Mn |
| Sep 30, 2023 | 277.70 Mn |
| Jun 30, 2023 | 272.60 Mn |
| Mar 31, 2023 | 258.20 Mn |
| Dec 31, 2022 | 252.20 Mn |
| Sep 30, 2022 | 261.30 Mn |
| Jun 30, 2022 | 215.80 Mn |
| Mar 31, 2022 | 183.50 Mn |
| Dec 31, 2021 | 201.70 Mn |
API Access
Targa Resources Operating Expenses 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=operating-expenses&ticker=TRGP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=TRGP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();