🫧 Edgar looked up Targa Resources Corp. ($TRGP). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-08-25. 12 event filings (8-K) in the past twelve months.
🔖 Exposure: revenue $17.0B (FY2025), total debt $17.4B. Experience: revenue up 3.9% on the year, up 0.1% a year over 4 years; operating margin 19.6%, up from 16.5%. Soundness: equity 12.2% of assets, return on equity 63.8%, dividend per share up 4 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $13.2B and $19.7B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $11.1B to $23.2B. A statistical range, not company guidance. Against peers (13 filers, $50M+ revenue, natural gas transmission): operating margin 19.6% against a 27.9% median; growth 3.9% against 12.2%.
Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.
| Fiscal year end | 2025-12-31 |
| Revenue | $17.0B |
| Revenue, on the year | 3.9% |
| Revenue, a year over the record | 0.1% |
| Operating margin | 19.6% |
| Operating margin, prior year | 16.5% |
| Net margin | 11.5% |
| Research and development | not filed separately |
| Total debt | $17.4B |
| Equity of assets | 12.2% |
| Return on equity | 63.8% |
| Payout of profit | — |
| Dividend per share | $3.75 · up 4 years running |
| Earnings per share | $8.52 |
| Book value per share | $14.14 |
| Revenue per share | $78.51 |
| Shares outstanding | 216,900,000 |
| Audited years read | 5 |
Peers: the median of 13 filers with $50M+ revenue in natural gas transmission.
Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt.
Sailing speed follows growth: -6.7% a year crosses the harbor in 100 seconds.
Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.
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| Cash conversion (operating cash ÷ revenue) | 23.0% |
| Growth speed (3 years, per year) | -6.7% |
| Revenue swing (std-dev of yearly growth) | 19.7% |
| Cash flow (operating · investing · financing · free) | $3.9B · −$3.6B · −$267M · $584M |
| Investment book (cash · short-term · long-term) | $166M · — · — |
| Common dividend | none |
| Equity of assets | 12.2% |
Targa Resources is growing slower than its size class, with revenue that swings more. SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class.
Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company
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