Targa Resources (TRGP) Tax Rate (2010 - 2026)
Targa Resources' Tax Rate was 22.61% in Q2 2026, up 0.19 percentage points from 22.42% a year earlier and up 2.34 percentage points from the prior quarter.
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Analysis
Targa Resources (TRGP) Tax Rate (2010 - 2026) Analysis & Trends
On a trailing twelve-month basis, Targa Resources' Tax Rate was 21.32% through Jun 30, 2026, up 0.64 percentage points year-over-year; for FY2025, it came in at 21.30%, up 1.46 percentage points from FY2024.
- Tax Rate has now increased for four consecutive years, with a five-year change of +5.53 percentage points (FY2020 to FY2025).
- In earlier years, Tax Rate was 19.84% in FY2024 (+1.14 pp), 18.70% in FY2023 (+10.77 pp), 7.92% in FY2022 (+4.54 pp) and 3.39% in FY2021 (-12.38 pp).
- The Q2 2026 figure marks the highest quarterly Tax Rate since Q4 2019.
- Compared with a year earlier, Tax Rate was higher in five of the last eight quarters, with an average year-over-year change of +0.68 percentage points.
- The best year-over-year quarter for Tax Rate over five years was Q4 2023 (a gain of 19.86 percentage points); the worst was Q4 2021 (a drop of 17.49 percentage points).
- Per Business Quant data, TRGP's Tax Rate in the three quarters before Q2 2026 was 20.27% (Q1 2026), 20.10% (Q4 2025) and 21.63% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 102.52 Bn | 100.06 Bn | 4.84 Bn | 21.97% |
| 2 | Enterprise Products Partners | 79.27 Bn | 77.71 Bn | - | 0.64% |
| 3 | Energy Transfer | 69.21 Bn | 62.65 Bn | 7.40 Bn | 7.12% |
| 4 | Kinder Morgan | 68.17 Bn | 69.12 Bn | 3.07 Bn | 23.33% |
| 5 | Tc Energy | 61.09 Bn | 64.16 Bn | 2.81 Bn | - |
| 6 | Targa Resources | 59.48 Bn | 59.10 Bn | 2.14 Bn | 22.61% |
| 7 | Mplx | 58.45 Bn | 52.01 Bn | 2.91 Bn | 0.18% |
| 8 | Oneok | 55.88 Bn | 54.37 Bn | 2.81 Bn | 23.62% |
| 9 | Cheniere Energy | 55.70 Bn | 55.83 Bn | 5.29 Bn | 9.13% |
| 10 | Venture Global | 32.11 Bn | 26.66 Bn | 2.92 Bn | 19.17% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.61% |
| Mar 31, 2026 | 20.27% |
| Dec 31, 2025 | 20.10% |
| Sep 30, 2025 | 21.63% |
| Jun 30, 2025 | 22.42% |
| Mar 31, 2025 | 20.51% |
| Dec 31, 2024 | 21.05% |
| Sep 30, 2024 | 17.79% |
| Jun 30, 2024 | 20.81% |
| Mar 31, 2024 | 19.91% |
| Dec 31, 2023 | 22.28% |
| Sep 30, 2023 | 16.19% |
| Jun 30, 2023 | 19.92% |
| Mar 31, 2023 | 16.57% |
| Dec 31, 2022 | 2.42% |
| Sep 30, 2022 | 4.12% |
| Jun 30, 2022 | 11.24% |
| Mar 31, 2022 | 11.96% |
| Sep 30, 2021 | 0.69% |
| Jun 30, 2021 | 4.07% |
API Access
Targa Resources Tax Rate 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=tax-rate&ticker=TRGP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=TRGP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();