Targa Resources Corp. (TRGP) quarterly cash flow statement — complete operating, investing & financing history
Targa Resources Corp. (TRGP) cash flow statement — 18-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 1.44B | 739.5M | 1.51B | 599.2M | 858.3M | 954.4M | 1.33B | 540.9M | 904.5M | 876.4M | 957.7M | 407.3M | 676.8M | 1.17B | 537.5M | 459.6M | 635.5M | 748.2M | 504.1M | 495.2M |
| Operating CF Margin % | 32.46% | 18.06% | 37.12% | 14.26% | 21.32% | 19.67% | 30.14% | 13.92% | 25% | 19.21% | 22.63% | 10.49% | 21.09% | 27.22% | 11.8% | 8.57% | 10.2% | 15.09% | 9.26% | 10.9% |
| Operating CF Growth % | 67.92% | -22.52% | 13.37% | 10.78% | -5.11% | 8.9% | 38.66% | 32.8% | 33.64% | -25.08% | 78.18% | -11.38% | 6.5% | 56.35% | 6.63% | -7.19% | 1.88% | 10.06% | -22.3% | 38.79% |
| Net Income | 785.5M | 479.6M | 545M | 475.5M | 637.2M | 279.8M | 414M | 447.9M | 359M | 332.6M | 357.6M | 279M | 387.5M | 555.2M | 395.9M | 279.3M | 687.6M | 168.6M | -249.2M | 288M |
| Depreciation & Amortization | 453.1M | 426M | 390.5M | 383.5M | 373.7M | 367.6M | 378.5M | 355.4M | 348.6M | 340.5M | 341.4M | 331.3M | 332.1M | 324.8M | 329.8M | 287.2M | 269.9M | 209.1M | 219.7M | 222.9M |
| Stock-Based Compensation | 18M | 23.2M | 17.3M | 17.5M | 17.1M | 17.6M | 15.8M | 17.7M | 15.1M | 14.6M | 16.7M | 15.7M | 15M | 15M | 15.7M | 14.5M | 13.8M | 13.5M | 14.6M | 14.7M |
| Deferred Taxes | 226.4M | 123.9M | 139.1M | 158.8M | 169.8M | 56.9M | 102.9M | 93.3M | 91M | 79.8M | 97.5M | 53.1M | 93M | 106M | 8.7M | 10.6M | 84.7M | 21.1M | -9.4M | 1.2M |
| Other Non-Cash Items | -101.2M | 131.9M | 25.2M | 49M | -266.5M | 253.5M | 93.5M | 22.8M | 58M | 30M | 26M | 42.7M | -147.3M | -169.9M | 17.5M | 114.7M | -394.8M | 197.4M | 621.2M | -2.3M |
| Working Capital Changes | 59.5M | -445.1M | 388.4M | -488M | -73M | -21M | 323.2M | -396.2M | 32.8M | 78.9M | 118.5M | -314.5M | -3.5M | 338.7M | -230.1M | -246.7M | -25.7M | 138.5M | -92.8M | -29.3M |
| Change in Receivables | -392.5M | 0 | 0 | 197.9M | 102.7M | 217.1M | -314.4M | -63.5M | 263.1M | 39.8M | -217.8M | -315.5M | 71.9M | 440.8M | 140.3M | 330.3M | -34.7M | -216.2M | -32.6M | -390.9M |
| Change in Inventory | 10.4M | 96M | 57.2M | -41.3M | -184.2M | 78.8M | 80.7M | -107.4M | -86.8M | 147M | 170.1M | -223.3M | -148.3M | 237.5M | 84.3M | -269.3M | -107.1M | 55.9M | 168.6M | -254.2M |
| Change in Payables | 50M | -181.9M | 259.5M | -163.8M | -183.2M | -169.3M | 401M | -90.6M | -205.2M | -64.5M | 37.6M | 350.5M | -27.2M | -292.7M | -527.8M | -276.8M | 58.8M | 362.8M | -287.4M | 673M |
| Cash from Investing | -1.01B | -2.16B | -1.18B | -691.1M | -956.8M | -813.3M | -746.3M | -847.3M | -749.8M | -677.9M | -727M | -599.2M | -593.8M | -480.8M | -502.1M | -3.9B | 445.4M | -197M | -173.6M | -113.7M |
| Capital Expenditures | -1.01B | -899.5M | -963.2M | -671.8M | -906.1M | -792.2M | -726.9M | -828.8M | -740.3M | -669.8M | -720M | -591.7M | -598M | -475.7M | -518.9M | -395.9M | -215.1M | -204.4M | -183.5M | -122.7M |
| CapEx % of Revenue | 22.75% | 21.97% | 23.75% | 15.99% | 22.51% | 16.32% | 16.5% | 21.33% | 20.46% | 14.68% | 17.01% | 15.24% | 18.64% | 11.07% | 11.39% | 7.39% | 3.45% | 4.12% | 3.37% | 2.7% |
| Acquisitions | -4M | -1.26B | -213.1M | -48.5M | -50.8M | -21.3M | -19M | -19.3M | -10.4M | -8.7M | -8.7M | -8.2M | 2.8M | -5M | 13.7M | -3.52B | 659.2M | 6.4M | 10M | 2.6M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 600K | 900K | 0 | 26.8M | 100K | 200K | -400K | 800K | 900K | 600K | 1.7M | 700K | 1.4M | -100K | 3.1M | 16M | 1.3M | 1M | -100K | 6.4M |
| Cash from Financing | -395.6M | 1.36B | -282.7M | 102.9M | 60.2M | -147M | -551.5M | 267.2M | -98.2M | -230.3M | -228.5M | 162M | -125.4M | -696.2M | -9.3M | 3.48B | -1.06B | -573.8M | -400.6M | -361.9M |
| Debt Issued (Net) | -19M | 1.67B | -21.8M | 497.2M | 628.2M | 2.04B | -104.4M | 684.4M | 480.6M | 99.2M | 39.1M | 491.4M | 187.6M | 618M | 157.8M | 3.73B | 182.6M | 631.1M | -193.1M | -193.2M |
| Equity Issued (Net) | -80.1M | -55M | -37M | -155.6M | -324.3M | -124.9M | -54.7M | -221.2M | -355.1M | -123.7M | -41M | -153.6M | -149.1M | -85.8M | -32.7M | -81.6M | -74.1M | -72.2M | 0 | -4.5M |
| Dividends Paid | -269.7M | -218.9M | -215.8M | -216.9M | -218.4M | -167.2M | -164.9M | -166.4M | -167.6M | -116.6M | -112.5M | -115.2M | -114.3M | -85.3M | -80.9M | -81M | -109.8M | -108M | -47.3M | -47.5M |
| Share Repurchases | -80.1M | -55M | -37M | -155.6M | -324.3M | -124.9M | -54.7M | -221.2M | -355.1M | -123.7M | -41M | -153.6M | -149.1M | -85.8M | -32.7M | -81.6M | -74.1M | -72.2M | 0 | -4.5M |
| Other Financing | -26.8M | -39.2M | -8.1M | -21.8M | -25.3M | -1.89B | -227.5M | -29.6M | -56.1M | -89.2M | -114.1M | -60.6M | -49.6M | -1.14B | -53.5M | -87.8M | -1.06B | -1.02B | -160.2M | -116.7M |
| Net Change in Cash | 32.2M | -66M | 42M | 11M | -38.3M | -5.9M | 30.1M | -39.2M | 56.5M | -31.8M | 2.2M | -29.9M | -42.4M | -7.2M | 26.1M | 38.9M | 18.1M | -22.6M | -70.1M | 19.6M |
| Free Cash Flow | 431.2M | -160M | 542.3M | -72.6M | -47.8M | 162.2M | 601M | -287.9M | 164.2M | 206.6M | 237.7M | -184.4M | 78.8M | 694.1M | 18.6M | 63.7M | 420.4M | 543.8M | 320.6M | 372.5M |
| FCF Margin % | 9.71% | -3.91% | 13.37% | -1.73% | -1.19% | 3.34% | 13.64% | -7.41% | 4.54% | 4.53% | 5.62% | -4.75% | 2.46% | 16.15% | 0.41% | 1.19% | 6.75% | 10.97% | 5.89% | 8.2% |
| FCF Growth % | 1002.09% | -198.64% | -9.77% | 74.78% | -129.11% | -21.49% | 152.84% | -56.13% | 108.38% | -70.23% | 1177.96% | -389.48% | -81.26% | 27.64% | -94.2% | -82.9% | -19.32% | -6.82% | -35.92% | 119.63% |
| FCF per Share | 2.01 | -0.74 | 2.52 | -0.34 | -0.22 | 0.74 | 2.72 | -1.31 | 0.74 | 0.92 | 1.07 | -0.82 | 0.35 | 3.03 | 0.08 | 0.28 | 1.81 | 2.34 | 1.16 | 1.35 |
| FCF Conversion (FCF/Net Income) | 1.89x | 1.54x | 2.76x | 1.26x | 1.37x | 4.80x | 3.78x | 1.41x | 3.05x | 3.18x | 3.45x | 1.87x | 2.08x | 185.68x | 1.69x | 2.38x | 1.07x | 8.50x | -1.61x | 2.72x |
| Interest Paid | -384M | 384M | 0 | 0 | 22.5M | 340.9M | 17.8M | 315.9M | 110.8M | 268.2M | 44.5M | 299.3M | 63.2M | 211.6M | 0 | 152.1M | 0 | 0 | 0 | 0 |
| Taxes Paid | -700K | 700K | 0 | 0 | 20.3M | 800K | 7M | 200K | 9.2M | 300K | -1M | 800K | 8.6M | 100K | 0 | 0 | 0 | 0 | 0 | 0 |