Sales Of Commodities was Targa Resources’s largest product and service line in fiscal 2025, bringing in $18.26B of $20.88B (87%).
| Product and Service | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales Of Commodities | $27.62B | — | — | $18.26B | |||||||||
| Ngl | — | $10.58B | $12.37B | — | |||||||||
| Ngl Sales | — | — | — | — | |||||||||
| Natural Gas Sales | — | — | — | — | |||||||||
| Natural Gas | — | $2.42B | $1.24B | — | |||||||||
| Fees From Midstream Services | $1.86B | — | — | $2.62B | |||||||||
| Gathering & Processing | — | $1.34B | $1.63B | — | |||||||||
| Gathering & Processing Fees | — | — | — | — | |||||||||
| A Component Of An Enterprise Pertaining To Gathering & Processing Fees | — | — | — | — | |||||||||
| Condensate & Crude Oil | — | $519.50M | $523.60M | — | |||||||||
| Storage Terminaling & Export | — | $440.70M | $497.90M | — | |||||||||
| Storage, Terminaling, Transportation & Export Fees | — | — | — | — | |||||||||
| A Component Of An Enterprise Pertaining To Storage, Terminaling. Transportation & Export Fees | — | — | — | — | |||||||||
| Ngl Transportation, Fractionation & Services | — | $261.10M | $298.40M | — | |||||||||
| Condensate Sales | — | — | — | — | |||||||||
| Fractionating & Treating Fees | — | — | — | — | |||||||||
| A Component Of An Enterprise Pertaining To Fractionating & Treating Fees | — | — | — | — | |||||||||
| Petroleum Products | — | — | — | — | |||||||||
| Other | — | $53.60M | $60.60M | — | |||||||||
| Other Midstream Services Fees Not Included In The Other Categories | — | — | — | — | |||||||||
| Total | $29.48B | $15.62B | $16.63B | $20.88B |
Targa Resources brought in $20.88B from its two product and service lines in fiscal 2025, the year ended December 31, 2025. Targa Resources regrouped these lines after fiscal 2024, so the total does not compare directly with that year's $16.63B. Sales Of Commodities was the largest at $18.26B (87.4%), ahead of Fees From Midstream Services at $2.62B (12.6%).
From fiscal 2022 to 2025, combined revenue from these lines fell from $29.48B to $20.88B, a compound annual decline of 10.9%. Sales Of Commodities' share of the total fell from 93.7% to 87.4%.
Targa Resources stopped reporting Ngl ($12.37B in fiscal 2024), Gathering & Processing ($1.63B in fiscal 2024), Natural Gas ($1.24B in fiscal 2024) and four others as separate lines.
Total Outside Revenues was Targa Resources’s largest segment in fiscal 2011, bringing in $6.92B of $8.34B (83%).
| The business segments reported in a Statement. | FY 2010 | FY 2011 |
|---|---|---|
| Total Outside Revenues | — | $6.92B |
| Sale Of Commodities | $1.08B | — |
| Total Intersegment Revenues | — | $1.43B |
| Total | $1.08B | $8.34B |
Targa Resources brought in $8.34B from its two segments in fiscal 2011, the year ended December 31, 2011. Targa Resources regrouped these segments after fiscal 2010, so the total does not compare directly with that year's $1.08B. Total Outside Revenues was the largest at $6.92B (82.9%), ahead of Total Intersegment Revenues at $1.43B (17.1%).
Targa Resources began breaking out Total Outside Revenues in fiscal 2011 and Total Intersegment Revenues in fiscal 2011. Targa Resources stopped reporting Sale Of Commodities as a separate segment after fiscal 2010, when it brought in $1.08B.
Logistics & Marketing was Targa Resources’s largest segment in fiscal 2017, bringing in $6.98B of $7.74B (90%).
| Statement Business Segments | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2017 |
|---|---|---|---|---|---|---|---|
| A Component Of An Enterprise Pertaining To Marketing | — | — | — | ||||
| A Component Of An Enterprise Pertaining To Ngl Sales | — | — | — | ||||
| Logistics & Marketing | $796.60M | $766.10M | $6.98B | ||||
| A Component Of An Enterprise Pertaining To Marketing & Distribution | — | — | — | ||||
| A Component Of An Enterprise Pertaining To Coastal | — | — | — | ||||
| A Component Of An Enterprise Pertaining To Natural Gas Sales | — | — | — | ||||
| A Component Of An Enterprise Pertaining To Field Gathering & Processing | — | — | — | ||||
| Gathering & Processing | $224.70M | $427.10M | $781.40M | ||||
| A Component Of An Enterprise Pertaining To Coastal Gathering & Processing | — | — | — | ||||
| A Component Of An Enterprise Pertaining To Logistics Assets | — | — | — | ||||
| A Component Of An Enterprise Pertaining To Condensate Sales | — | — | — | ||||
| A Component Of An Enterprise Pertaining To Petroleum Products | — | — | — | ||||
| A Component Of An Enterprise Pertaining To Logistics | — | — | — | ||||
| Other | — | — | -$9.60M | ||||
| A Component Of An Enterprise Pertaining To Non-Partnership | — | — | — | ||||
| Refers To An Entity Associated With A Report | — | — | — | ||||
| A Component Of An Enterprise Pertaining To Trc Non- Partnership | — | — | — | ||||
| A Component Of An Enterprise Pertaining To Corporate | — | — | — | ||||
| Derivative Activities | — | — | -$9.60M | ||||
| A Component Of An Enterprise Pertaining To Derivative Activities | — | — | — | ||||
| Corporate & Eliminations | — | -$26.50M | — | ||||
| A Component Of An Enterprise Pertaining To Other Segment | — | — | — | ||||
| Splitter Agreement | -$33.70M | — | — | ||||
| Corporate Accounts & Eliminating Entries In The Consolidation | — | — | — | ||||
| Total | $987.60M | $1.17B | $7.74B |
Targa Resources brought in $7.74B from its four segments in fiscal 2017, the year ended December 31, 2017. Targa Resources regrouped these segments after fiscal 2015, so the total does not compare directly with that year's $1.17B. Logistics & Marketing was the largest at $6.98B (90.2%), ahead of Gathering & Processing at $781.40M (10.1%).
Compared with fiscal 2015, the previous year with figures, Logistics & Marketing grew 811.0% to $6.98B and Gathering & Processing grew 83.0% to $781.40M.
Targa Resources began breaking out Derivative Activities in fiscal 2017, when it brought in -$9.60M. The total is net of Other, which took $9.60M off revenue in fiscal 2017.
Targa Resources (TRGP) reports its revenue by product and service, by the business segments reported in a statement. and by statement business segments. In fiscal 2025, Sales Of Commodities was its largest product and service line, bringing in $18.26B (87.4% of the total), followed by Fees From Midstream Services at $2.62B (12.6%).
Sales Of Commodities was Targa Resources' largest product and service line in fiscal 2025, bringing in $18.26B, or 87.4% of the $20.88B total across its two product and service lines.
Total Outside Revenues was Targa Resources' largest segment in fiscal 2011, bringing in $6.92B, or 82.9% of the $8.34B total across its two segments.
Every figure comes from Targa Resources' annual financial filings, as reported. Each line keeps the name Targa Resources gives it, and years follow its fiscal calendar.
Targa Resources' revenue by product and service goes back to fiscal 2013, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.