Last 47 quarters of trend data · Energy · Oil & Gas Midstream
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 33.07 | 18.83 | 28.36 | 18.23 | 19.04 | 15.11 | 55.07 | 30.78 | 21.14 | 24.12 | 22.94 | 17.41 | 22.15 | 13.25 | 663.18 | 13.07 | 17.99 | 9.27 | 334.53 | — | 21.20 |
| — | +24.6% | -48.5% | -40.8% | -10.0% | -37.3% | +140.1% | +76.8% | -4.5% | +82.1% | -96.5% | +33.2% | +23.1% | +42.9% | +98.2% | — | -15.1% | -87.6% | +1811.7% | — | -4.6% | |
| P/S Ratio | 3.53 | 3.25 | 3.29 | 2.45 | 2.15 | 2.35 | 2.26 | 2.24 | 2.09 | 1.97 | 1.37 | 1.14 | 1.24 | 1.34 | 0.97 | 0.93 | 0.65 | 0.55 | 0.88 | 0.66 | 0.75 |
| — | +38.2% | +45.7% | +9.1% | +2.8% | +19.0% | +64.5% | +96.2% | +68.6% | +46.8% | +41.1% | +23.0% | +91.8% | +142.5% | +10.1% | +40.0% | -13.4% | -23.9% | +52.8% | +7.0% | +83.1% | |
| P/B Ratio | 18.94 | 15.19 | 16.49 | 12.40 | 12.77 | 13.95 | 17.04 | 8.94 | 7.30 | 6.57 | 5.47 | 4.19 | 4.41 | 3.80 | 3.79 | 3.40 | 2.94 | 3.14 | 4.37 | 2.79 | 2.52 |
| — | +8.9% | -3.2% | +38.7% | +74.9% | +112.3% | +211.4% | +113.1% | +65.7% | +72.8% | +44.4% | +23.5% | +50.1% | +21.0% | -13.2% | +21.8% | +16.6% | +64.9% | +176.4% | +127.1% | +377.0% | |
| P/FCF | 103.53 | 33.42 | — | 18.29 | — | — | 67.58 | 16.43 | — | 43.51 | 30.31 | 20.34 | — | 54.76 | 6.02 | 227.42 | 54.54 | 8.22 | 8.06 | 11.26 | 9.13 |
| — | — | — | +11.3% | — | — | +122.9% | -19.2% | — | -20.5% | +403.2% | -91.1% | — | +566.0% | -25.3% | +1919.8% | +497.4% | +66.7% | +115.8% | +210.9% | +88.8% | |
| EV / EBITDA | 15.69 | 11.50 | 14.33 | 10.90 | 10.55 | 11.54 | 12.44 | 12.42 | 10.44 | 10.17 | 9.71 | 8.30 | 9.73 | 9.37 | 7.64 | 8.02 | 8.70 | 5.87 | 12.21 | 40.81 | 7.47 |
| — | -0.3% | +15.1% | -12.2% | +1.0% | +13.4% | +28.1% | +49.6% | +7.3% | +8.5% | +27.1% | +3.5% | +11.8% | +59.7% | -37.4% | -80.4% | +16.4% | -21.5% | +115.5% | +865.9% | +26.6% | |
| EV / EBIT | 22.59 | 24.66 | 29.83 | 15.70 | 15.88 | 13.12 | 27.27 | 19.09 | 16.02 | 16.71 | 14.78 | 12.62 | 15.80 | 11.35 | 8.61 | 12.82 | 14.96 | 6.17 | 20.84 | — | 13.23 |
| — | +88.0% | +9.4% | -17.7% | -0.9% | -21.5% | +84.5% | +51.3% | +1.4% | +47.2% | +71.6% | -1.6% | +5.6% | +83.9% | -58.7% | — | +13.1% | -62.8% | +79.5% | — | +46.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.5% | 48.2% | 31.1% | 43.1% | 23.3% | 22.2% | 19.0% | 25.1% | 22.2% | 21.6% | 22.0% | 17.1% | 15.0% | 16.7% | 16.2% | 19.8% | 14.3% | 11.2% | 11.0% | 12.0% | 11.4% |
| — | +117.1% | +63.5% | +71.9% | +4.7% | +2.6% | -13.5% | +46.8% | +48.3% | +29.6% | +36.0% | -13.7% | +4.9% | +48.6% | +47.0% | +65.0% | +25.8% | -5.9% | -23.7% | -52.1% | -28.1% | |
| Operating Margin | 20.1% | 27.8% | 20.7% | 22.6% | 21.1% | 20.1% | 17.2% | 15.9% | 19.7% | 18.9% | 14.0% | 14.8% | 12.7% | 14.2% | 14.3% | 12.1% | 8.0% | 10.1% | 6.0% | -1.7% | 9.9% |
| — | +38.4% | +20.0% | +42.3% | +7.1% | +6.3% | +22.9% | +7.3% | +55.0% | +33.5% | -1.7% | +22.4% | +58.1% | +40.2% | +139.1% | +819.2% | -19.1% | -0.3% | -53.4% | -107.5% | -22.8% | |
| Net Margin | 10.8% | 17.2% | 11.7% | 13.4% | 11.3% | 15.5% | 4.1% | 8.0% | 9.9% | 8.2% | 6.0% | 6.6% | 5.6% | 10.2% | 0.1% | 7.0% | 3.6% | 9.6% | 1.8% | -5.8% | 4.0% |
| — | +10.9% | +185.9% | +68.7% | +14.4% | +89.7% | -32.1% | +21.4% | +76.3% | -19.4% | +4014.5% | -6.0% | +55.8% | +6.1% | -91.7% | +221.1% | -10.2% | +500.4% | -54.3% | -601.2% | +16.1% |
| Metric | TTM | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 48.4% | 21.6% | 14.8% | 18.1% | 17.2% | 23.7% | 5.7% | 7.9% | 8.7% | 6.6% | 6.0% | 6.2% | 4.9% | 7.3% | 0.1% | 6.5% | 4.2% | 14.2% | 1.9% | -5.9% | 3.4% |
| — | -8.5% | +160.8% | +128.5% | +96.4% | +256.5% | -5.1% | +28.0% | +78.8% | -8.8% | +4367.3% | -5.6% | +15.5% | -48.6% | -93.0% | +210.4% | +25.3% | +1276.5% | -25.3% | -1168.9% | +203.9% | |
| ROA | 7.7% | 2.7% | 1.8% | 2.2% | 2.0% | 2.7% | 0.9% | 1.6% | 1.8% | 1.4% | 1.3% | 1.4% | 1.1% | 1.7% | 0.0% | 1.6% | 1.1% | 3.9% | 0.6% | -2.0% | 1.2% |
| — | +1.8% | +109.9% | +40.3% | +11.9% | +91.9% | -34.1% | +15.7% | +62.2% | -16.9% | +3954.1% | -16.8% | -1.2% | -56.5% | -94.3% | +181.2% | -4.2% | +976.1% | -37.9% | -1055.6% | +168.2% | |
| ROIC | 13.2% | 4.0% | 3.0% | 3.4% | 3.4% | 3.2% | 3.4% | 2.8% | 3.1% | 2.9% | 2.7% | 2.7% | 2.2% | 2.1% | 2.8% | 2.6% | 2.3% | 4.1% | 1.9% | -0.6% | 2.8% |
| — | +26.1% | -12.2% | +19.6% | +6.7% | +10.1% | +23.5% | +4.1% | +44.6% | +41.1% | -2.6% | +5.4% | -7.4% | -50.4% | +44.2% | +542.4% | -16.3% | +91.4% | -29.7% | -116.1% | +101.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 5.49 | 5.30 | 5.85 | 5.49 | 6.15 | 6.21 | 6.30 | 3.23 | 3.22 | 3.14 | 2.87 | 2.82 | 2.96 | 2.74 | 2.77 | 2.32 | 2.38 | 1.70 | 1.80 | 1.28 | 1.26 |
| — | -14.6% | -7.1% | +69.9% | +91.3% | +98.1% | +119.6% | +14.4% | +8.6% | +14.5% | +3.7% | +21.6% | +24.4% | +61.6% | +53.3% | +81.3% | +89.3% | +31.2% | +35.2% | -3.1% | -1.4% | |
| Debt / EBITDA | 3.54 | 11.93 | 15.03 | 13.42 | 13.74 | 14.25 | 13.47 | 13.22 | 12.80 | 13.20 | 13.40 | 13.41 | 15.70 | 15.79 | 12.99 | 13.12 | 15.70 | 8.29 | 14.36 | 51.77 | 10.06 |
| — | -16.3% | +11.6% | +1.5% | +7.4% | +8.0% | +0.5% | -1.4% | -18.5% | -16.4% | +3.1% | +2.2% | +0.0% | +90.5% | -9.5% | -74.6% | +56.0% | -32.3% | +36.2% | +481.3% | -41.2% | |
| Current Ratio | 0.67 | 0.77 | 0.72 | 0.67 | 0.77 | 0.69 | 0.65 | 0.72 | 0.77 | 0.65 | 0.70 | 0.79 | 0.80 | 0.74 | 0.66 | 0.77 | 0.74 | 0.69 | 0.65 | 0.77 | 0.69 |
| — | +10.9% | +10.6% | -8.0% | +0.2% | +7.6% | -7.4% | -8.9% | -3.2% | -13.3% | +5.5% | +3.4% | +8.4% | +8.6% | +1.7% | -0.2% | +5.9% | +9.5% | -18.2% | -6.2% | -33.6% | |
| Quick Ratio | 0.55 | 0.68 | 0.62 | 0.55 | 0.61 | 0.56 | 0.57 | 0.62 | 0.61 | 0.53 | 0.62 | 0.66 | 0.60 | 0.61 | 0.60 | 0.64 | 0.60 | 0.62 | 0.62 | 0.70 | 0.58 |
| — | +22.4% | +8.9% | -11.9% | -1.2% | +3.8% | -8.4% | -6.3% | +2.7% | -12.4% | +3.4% | +3.2% | +0.1% | -1.9% | -3.0% | -9.0% | +2.1% | +4.4% | -19.4% | -2.1% | -31.8% | |
| Interest Coverage | 3.92 | 3.33 | — | 4.20 | 3.81 | 4.76 | 2.79 | 3.95 | 3.95 | 3.58 | 2.82 | 3.58 | 2.90 | 3.90 | 4.96 | 3.79 | 3.32 | 10.54 | 3.16 | -1.49 | 4.19 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying TRGP stock.
Targa Resources Corp.'s current P/E is 33.1x. The average P/E over the last 4 quarters is 21.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Targa Resources Corp.'s current operating margin is 20.1%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Targa Resources Corp.'s business trajectory between earnings reports.