Targa Resources (TRGP) Operating Margin (2010 - 2026)

Targa Resources (TRGP) has reported Operating Margin for 17 consecutive years, with 27.8% the latest figure, recorded in Q2 2026.

• On a quarterly basis, Operating Margin rose 354.0% year-over-year to 27.8% in Q2 2026; TTM through Jun 2026 was 22.91%, a 531.0% increase from a year earlier, with the FY2025 full-year figure at 19.56%, up 311.0% from the prior year.
• Operating Margin was 27.8% for Q2 2026 at Targa Resources, up from 20.68% in the prior quarter.
• Over five years, Operating Margin peaked at 27.8% in Q2 2026 and troughed at 5.96% in Q1 2022.
• A 5-year average of 16.28% and a median of 16.75% in 2024 frame the typical range for Operating Margin.
• Across the five-year window, Operating Margin jumped 1379 bps in 2022 and tumbled 449 bps in 2024, its largest moves.
• Over 5 years, Operating Margin stood at 12.11% in 2022, then gained by 24 bps to 14.99% in 2023, then gained by 6 bps to 15.9% in 2024, then surged by 42 bps to 22.62% in 2025, then climbed by 23 bps to 27.8% in 2026.
• The last three Operating Margin figures came in at 27.8% (Q2 2026), 20.68% (Q1 2026), and 22.62% (Q4 2025), per Business Quant data.