How profitable is Targa Resources Inc. (TRGP)?

In FY 2025 (10-K), TRGP converted $17.0B of revenue into a 38.3% gross margin, 19.6% operating margin, and $584.1M in free cash flow (3.4% FCF margin).

Stock Ratings / Energy / TRGP / financials

TRP (65) MPLX (76) KMI (67) SRE (56) ⌘ Pro Terminal →

Targa Resources Inc. (TRGP) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$294.73 -6.43% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $292.03

Targa Resources Inc. (TRGP) earns a Roarable Rating of B (Buy) with 73/100 RQD Confidence. High-quality cash engine (38.3% gross margin, 33% return on capital) with steady institutional support. The company’s underlying cash engine and institutional positioning keep the composite score in the Green Buy zone.

ROARABLE B • BUY Cap $67.54B

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on TRGP Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is TRGP stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Targa Resources Inc. (NYSE: TRGP) is rated B (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 73/100 at a spot price of $294.73 (-6.43% 1D, market cap $67.54B). Pillar breakdown: Fundamental Cash Engine 12/20, Institutional 13F & Options Flow 19/20, SEC Balance-Sheet Forensics 18/20, FRED Macro Regime Fit 11/20, and Executive Insider Alignment 13/20. Across 211 tracked Energy issuers, TRGP ranks #20 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does TRGP compare to TRP and MPLX in the Energy sector?

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Within the Energy sector (Natural Gas Distribution), TRGP carries a Roarable B (73/100 RQD), trailing P/E of 34.8x, gross margin of 38.3%, and ROIC of 33.0%. By comparison, TRP (TC Energy Corporation) holds a C grade (65/100 RQD, P/E 32.8x, ROIC 9.9%, cap $64.50B) and MPLX (MPLX LP Common) posts a B+ grade (76/100 RQD, P/E 13.1x, ROIC 19.3%, cap $60.72B). Among the 5-stock peer group, MPLX leads on earnings multiple (13.1x) while TRGP leads on capital efficiency (33.0% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for TRGP?

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Per TRGP's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001389170), Targa Resources Inc. generated $17.03B in revenue (+20.5% YoY), $1.92B in net income, and $584.1M in free cash flow against $25.22B in total assets and $5.90B in total debt. Key quantitative strengths: Big institutional funds and options desks are actively positioning on the bullish side. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $292.02 (-0.92%)🧬 Disciplined Float (-0.32% YoY Shares)⚙️ Cash Engine: 12/20 (C-) • 3.4% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record: Scores of 73/100 (B) historically ranked in the Top 13% of excess returns over the next 90 days (+7.1% avg 90D alpha vs SPY • 69.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERBUY • B

2-of-3 JEV AI Jury Bullish

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw B · Rk B

Each axis scored 0–20

12M PRICE TARGET CONE+6.7% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for TRGP)Realized 20D OHLCV Swing Band: ±5.1%

Deterministic 5-Pillar Attribution (73/100 Composite)

🔍 WHY TRGP SCORES 73/100 (B) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Whale & Options Positioning+19/20 pts (26% of score)

20D Institutional Volume Accumulation (±5.1% realized swing band)

▲ #2 Bullish Driver: SEC 10-K Forensic Risk+18/20 pts (25% of score)

Altman Z-Score 4.50 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 7/9

▼ #1 Drag / Risk Factor: Macro Regime Fit11/20 pts (-9 pt drag)

Macro rate sensitivity & RSI-14 (67) create a -9 pt regime headwind

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade C+$290.91+1.6% Next Q

Q2 (-2Q)

Grade B-$295.60+3.5% Next Q

Q3 (-1Q)

Grade B$305.90-3.7% Next Q

Current

Grade B$294.73+7.1% Hist 90D α

Trajectory: C+ (65) → B (73)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the TRGP Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 73/100 (B) score, TRGP faces multiple-compression risk if 34.8x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Broader market pullbacks can still drag down strong stocks in the short run.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Disciplined Float (-0.32% YoY Shares) — any gross margin slip below 35.8% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($291.51) or 200D SMA ($261.54) invalidates the momentum regime and cuts Target Base ($314.62) toward Bear Floor ($241.68).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $TRGP• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “TRGP Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 73%NO 27%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How TRGP Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$584.1M (3.4% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $13.52B

FY24

Rev $14.14B

FY25

Rev $17.03B

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$17.03B	38.3%	19.6%	$1.92B	$584.1M	29.9%
FY 2024	$14.14B	24.3%	19.1%	$1.31B	$683.9M	27.5%
FY 2023	$13.52B	38.3%	19.4%	$1.35B	$2.60B	9.3%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring TRGP)

✓Walkthrough of TRGP's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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TRGP // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +13.80%▲ ASCENDING CHANNEL

2026-11-03O $312.4H $315.0L $294.7C $294.7VOL 1.48M

RES: $317.1SUP: $274.5SMA50: $291.5SMA200: $261.5

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

TRGP Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 TRGP Butterfly Map → + Track TRGP →

Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle

26.8%/yr Implied 5Y Growth

vs. +20.5% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on TRGP today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for TRGP. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for TRGP today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (TRGP)

Energy Rank #20 of 211 ⚔️ TRP vs TRGP Full Matrix →

1. Head-to-Head Energy Peer Comparison (TRGP vs. TRP, MPLX, KMI, SRE)

Industry: Natural Gas Distribution (25 Tracked Issuers)

Across 211 tracked Energy securities in the Roarable RQD universe, Targa Resources Inc. (TRGP) ranks #20 by composite RQD confidence (73/100, grade B) and #23 by equity capitalization ($67.54B). Within this direct 5-issuer industry benchmark cohort, MPLX leads on earnings valuation at 13.1x trailing P/E, while TRGP leads on capital efficiency and profitability with 33.0% ROIC and 38.3% gross margin. MPLX currently holds the highest overall quantitative score in the immediate peer group at 76/100 (B+) compared with TRGP at 73/100 (B).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
TRGP ACTIVE Targa Resources Inc.	B	73/100	34.8x	38.3%	33.0%	-6.43%	$67.54B	Benchmark Subject
TRP TC Energy Corporation	C	65/100	32.8x	—	9.9%	-1.35%	$64.50B	/trp-vs-trgp →
MPLX MPLX LP Common	B+	76/100	13.1x	—	19.3%	-2.03%	$60.72B	/mplx-vs-trgp →
KMI Kinder Morgan Inc.	C+	67/100	24.8x	—	6.0%	-3.42%	$75.45B	/kmi-vs-trgp →
SRE DBA Sempra	D+	56/100	30.6x	—	3.3%	-0.10%	$56.27B	/sre-vs-trgp →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001389170 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Targa Resources Inc. (TRGP) reported GAAP revenue of $17.03B (+20.5% vs. FY2024 revenue of $14.14B , and +25.9% cumulative change since FY2023) , GAAP net income of $1.92B, operating cash flow of $3.92B, and free cash flow of $584.1M (-14.6% YoY). On the balance sheet, TRGP closed FY2025 with $25.22B in total assets against $5.90B in total debt (Altman Z-Score: 4.50, Piotroski F-Score: 7/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$17.03B	$1.92B	$3.92B	$584.1M	$25.22B	$5.90B
FY2024 (FY)	2024-12-31	$14.14B	$1.31B	$3.65B	$683.9M	$22.73B	$5.32B
FY2023 (FY)	2023-12-31	$13.52B	$1.35B	$3.21B	$2.60B	$36.84B	$8.62B

3. TRGP Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is TRGP stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does TRGP compare to TRP and MPLX in the Energy sector?

What are the biggest fundamental strengths and SEC risk factors for TRGP?

Where is TRGP trading relative to its 50-day, 200-day, and 52-week technical levels?

TRGP last traded at $294.73 (-6.43% on volume of 1,852,066 shares), positioning the stock +1.10% above its 50-day simple moving average ($291.51) and +12.69% above its 200-day simple moving average ($261.54). Across its 52-week range of $151.78 to $316.60, TRGP sits at the 86.7% percentile with a 14-day RSI of 67.0 (BULLISH MOMENTUM) and an implied next-earnings move of ±5.1% ($279.70 to $309.76).

Direct Sub-Reports: TRGP RQD Cockpit TRGP 12M Forecast TRGP Earnings & Move TRGP Dividends & DRIP TRGP Insiders & 13F TRGP Whale Options TRGP Profit Sankey TRGP News & Why

ROARABLE RATING BRIEF • RQD 73/100 (B) ✓ SEC XBRL & RQD VERIFIED

TRGP — Targa Resources Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit

Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Targa Resources Inc. (TRGP) earns a live Roarable RQD composite score of 73/100, corresponding to a B letter grade (Roarable Buy) at a spot price of $294.73 (-6.43% 1D, market capitalization $67.54B).

Fundamental Cash Engine (12/20): Anchored by return on invested capital (ROIC) of 33.0%, gross margin of 38.3%, operating margin of 19.6%, and free cash flow yield of 0.87%.
Whale 13F & Options Flow (19/20) + Insider Conviction (13/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
Macro Regime Fit (11/20) + Forensic Balance Sheet (18/20): Incorporates a 0.99x equity beta, Altman Z-Score of 4.50, Piotroski F-Score of 7/9, and Debt/Equity of 1.66x.

2. Business Model, Unit Margins & SEC Financial Trajectory

Targa Resources Inc. Is a NYSE-listed issuer classified in the Energy sector, Natural Gas Distribution industry,. — for detailed business description beyond classification.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Targa Resources Inc. (TRGP) reported $17.03B in annual revenue (up from $14.14B in FY2024, +20.5% YoY) and $1.92B in GAAP net income. Over the multi-year SEC filing window from FY2023 ($13.52B revenue, $1.35B net income) through FY2025, TRGP scaled operating cash flow to $3.92B and free cash flow to $584.1M, backed by $25.22B in total assets against $5.90B in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

🐂 Primary Bull Case (B • RQD 73/100): Big institutional funds and options desks are actively positioning on the bullish side. Clean SEC annual filing review with no major hidden accounting time-bombs. With Fundamental Cash Engine at 12/20 and Institutional Whale Flow at 19/20, sustained execution supports upside toward the upper end of the $151.78 – $316.60 52-week range.
🐻 Primary Bear Case & Valuation Risk: Broader market pullbacks can still drag down strong stocks in the short run. Investors must weigh 34.8x trailing P/E and 11.7x EV/EBITDA against 19.6% operating margins and a 0.99x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

— The Butterfly Supply-Chain Graph reports supply_chain as NONE with empty butterfly links, so upstream and downstream dependencies, sector correlations, and second-order bottlenecks cannot be mapped from the provided sources.

Key Question #1: Can TRGP sustain or expand its 19.6% operating margin and 33.0% ROIC against Natural Gas Distribution peers over the next 4 quarters?
Key Question #2: Following FY2025 revenue of $17.03B and free cash flow of $584.1M, how will capital allocation balance growth reinvestment against $5.90B in total debt?
Key Question #3: How sensitive is TRGP's 29.2x forward P/E multiple to Energy capital spending cycles and macro interest-rate shifts (Beta 0.99x)?

TRGP Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Targa Resources Inc. (TRGP) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to TRGP Debate Forum (3) ↓

🟡 MARKET WIRE Yahoo Finance • 22h ago

Targa Resources (TRGP) Builds Out Export Capacity, Is The Stock Fully Valued?

Yahoo Finance report covering Targa Resources Inc. (TRGP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE ChartMill • 1d ago

Targa Resources (NYSE:TRGP) Nears Technical Breakout With Strong Trend and Tight Setup

ChartMill report covering Targa Resources Inc. (TRGP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Targa Resources (TRGP) Stock Could Be 42% Undervalued On Cash Flow

Yahoo Finance report covering Targa Resources Inc. (TRGP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Seeking Alpha • 1d ago

Targa Resources: Needs Balance Sheet Repairing First (NYSE:TRGP)

Seeking Alpha report covering Targa Resources Inc. (TRGP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Benzinga • 1d ago

Here’s How Much You Would Have Made Owning Targa Resources Stock In The Last 15 Years

Benzinga report covering Targa Resources Inc. (TRGP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST GuruFocus • 1d ago

Is Targa Resources Corp (TRGP) Overvalued After 4.4% Rally? GF V

GuruFocus report covering Targa Resources Inc. (TRGP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE MarketBeat • 1d ago

Targa Resources (TRGP) Stock Forecast and Price Target 2026 $TRGP

MarketBeat report covering Targa Resources Inc. (TRGP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Timothy Sykes • 1d ago

Targa Resources Stock Climbs As Analysts Hike Price Targets Ahead Of Earnings

Timothy Sykes report covering Targa Resources Inc. (TRGP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

TRGP Bull vs. Bear Conversation Board — What's Your Call at $294.73?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON TRGP 🐻 33% BEARISH CONVICTION

DE DeepValue_CFA RQD DEBATE OPENER • Institutional Buy-Side 🐂 BULLISH 🎯 Target: $412.64 (+31.0%)

📌 Pinned Debate

A 33% ROIC and 18/20 whale-flow score point to strong capital efficiency and institutional support.

Don't sleep on TRGP's setup in Energy. A 33% ROIC and 18/20 whale-flow score point to strong capital efficiency and institutional support.. Beta of 0.99 means it moves fast when momentum turns, and the 5-pillar RQD gauge (73/100) backs up the fundamental quality.

VolSurface_Trader 🐂 BULL

Both sides have a point here — TRGP's 18/20 balance sheet score keeps downside contained, so the real swing factor next earnings call is backlog and FCF conversion.

FA FadeTheHype RQD DEBATE OPENER • Contrarian Tape Reader 🐻 BEARISH 🎯 Target: $255.14 (-19.0%)

Spot @ $314.99

A 0.87% FCF yield and 34.8 trailing P/E leave little cushion if cash generation does not keep pace with the price.

Sitting on the sidelines or leaning short TRGP above $314.99. A 0.87% FCF yield and 34.8 trailing P/E leave little cushion if cash generation does not keep pace with the price.. Until Fundamental Cash Engine (12/20) and FCF yield (0.87%) inflect higher, upside is capped near $316.60.