Targa Resources (TRGP) Return on Invested Capital [ROIC] (2011 - 2026)
Targa Resources (TRGP) reported Return on Invested Capital [ROIC] of 13.71% for Q3 2026, up 1.45 percentage points from 12.26% a year earlier and up 0.52 percentage points from the prior quarter.
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Analysis
Targa Resources (TRGP) Return on Invested Capital [ROIC] (2011 - 2026) Analysis & Trends
For FY2025, Targa Resources posted Return on Invested Capital [ROIC] of 13.37%, up 1.42 percentage points from FY2024.
- Return on Invested Capital [ROIC] has a five-year change of +20.71 percentage points (FY2020 to FY2025).
- By year, Return on Invested Capital [ROIC] came in at 11.95% in FY2024 (-0.58 pp), 12.53% in FY2023 (+1.28 pp), 11.25% in FY2022 (+4.68 pp) and 6.57% in FY2021 (+13.91 pp).
- The Q3 2026 figure ranks as the highest quarterly Return on Invested Capital [ROIC] in data going back to Q1 2011.
- Year over year, Return on Invested Capital [ROIC] has now increased in each of the last seven quarters, with an average year-over-year change of +0.93 percentage points over the last eight quarters.
- The high point for year-over-year Return on Invested Capital [ROIC] in five years was Q4 2021 (a gain of 14.88 percentage points); the low point was Q3 2022 (a drop of 2.32 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 13.19% (Q2 2026), 13.32% (Q1 2026) and 12.82% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | 4.91% |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | 16.19% |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 12.57% |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 6.34% |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | 10.22% |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 8.84% |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 13.71% |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 15.49% |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 13.59% |
| 10 | Oneok | 56.58 Bn | 65.12 Bn | 2.84 Bn | 8.77% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 13.71% |
| Jun 30, 2026 | 13.19% |
| Mar 31, 2026 | 13.32% |
| Dec 31, 2025 | 12.82% |
| Sep 30, 2025 | 12.26% |
| Jun 30, 2025 | 12.44% |
| Mar 31, 2025 | 11.13% |
| Dec 31, 2024 | 11.58% |
| Sep 30, 2024 | 11.48% |
| Jun 30, 2024 | 10.82% |
| Mar 31, 2024 | 11.07% |
| Dec 31, 2023 | 12.25% |
| Sep 30, 2023 | 12.72% |
| Jun 30, 2023 | 12.90% |
| Mar 31, 2023 | 12.31% |
| Dec 31, 2022 | 9.81% |
| Sep 30, 2022 | 6.93% |
| Jun 30, 2022 | 7.93% |
| Mar 31, 2022 | 6.67% |
| Dec 31, 2021 | 6.97% |
API Access
Targa Resources Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=TRGP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=TRGP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();