Targa Resources (TRGP) revenue breakdown
By segment, Logistics and Transportation is the largest at 84% of fiscal 2025 revenue, growing 11% a year over 9 years.
By product, Sales of Commodities is the largest at 85% of fiscal 2025 revenue; Fees from Midstream Services grew fastest, 12% a year over 8 years.
Revenue by segment
Fiscal years, as Targa Resources reports them in its 10-K filings; fiscal 2025 total $17.0B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Logistics and Transportation | $5.8B | $7.8B | $8.9B | $7.1B | $7.1B | $16.2B | $19.2B | $13.3B | $13.9B | $14.3B | 84% |
| Gathering and Processing | $3.2B | $4.5B | $5.6B | $4.5B | $3.3B | $7.4B | $2.1B | $2.4B | $2.7B | $2.7B | 16% |
| Corporate and Eliminations | -$2.4B | -$3.5B | -$4.0B | -$2.8B | -$2.4B | -$6.5B | — | — | — | — | — |
| Other | $63M | -$2M | -$8M | -$114M | $230M | -$116M | -$302M | $276M | -$165M | -$5M | -0% |
Revenue by product
Fiscal years, as Targa Resources reports them in its 10-K filings; fiscal 2025 total $17.0B.
| Products | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales of Commodities | — | $7.8B | $9.3B | $7.4B | $7.2B | $15.6B | $19.1B | $14.0B | $13.9B | $14.4B | 85% |
| Fees from Midstream Services | — | $1.1B | $1.2B | $1.3B | $1.1B | $1.3B | $1.9B | $2.1B | $2.5B | $2.6B | 15% |
| NGL | $3.8B | — | — | — | — | — | — | — | — | — | — |
| Natural Gas | $1.6B | — | — | — | — | — | — | — | — | — | — |
| Condensate | $134M | — | — | — | — | — | — | — | — | — | — |
| Petroleum Products | $68M | — | — | — | — | — | — | — | — | — | — |
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Where does Targa Resources make its money?
In fiscal 2025, by segment: Logistics and Transportation $14.3B, Gathering and Processing $2.7B, Other -$5M.
From Targa Resources's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.