선택적 제품 분석
허용하는 경우 개인정보 보호를 고려한 제한적 분석을 사용해 어떤 리서치 여정이 효과적인지 파악합니다. 광고 추적기나 세션 녹화는 사용하지 않습니다. 환경설정에서 이 선택을 변경할 수 있습니다. 자세한 내용은 개인정보 처리방침.
Targa Resources Corp.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.
| Market cap | $58.0B | |
|---|---|---|
| P/E (forward) | 23.2x |
Recent price action with selectable time range.
| Item | P1 | P2 | P3 | P4 | P5 | Trend |
|---|---|---|---|---|---|---|
| Period | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Trend |
| Revenue | $16.09B | $19.82B | $13.52B | $14.14B | $17.03B | +1.4% |
| Gross profit | $2.09B | $2.79B | $2.54B | $3.33B | $4.54B | +21.4% |
| Operating income | $864.8M | $1.73B | $2.63B | $2.70B | $3.33B | +40.1% |
| Net income | $71.2M | $1.20B | $1.35B | $1.31B | $1.92B | +128.0% |
| EPS (diluted) | $-0.07 | $3.88 | $3.66 | $5.74 | $8.49 | — |
| EBITDA | $1.70B | $3.21B | $3.97B | $4.14B | $4.85B | +30.0% |
| R&D | — | — | — | — | — | — |
| SG&A | $273.2M | $309.7M | $348.7M | $384.9M | $406.0M | +10.4% |
Recent company headlines from major financial publishers.
In the base scenario, Targa delivers on its multi-year capital expansion program, adding five Permian processing plants and expanding Mont Belvieu fractionation capacity in line with guided schedules,. Full-year 2026 adjusted EBITDA tracks toward the upper end of the $5.7B to $5.9B guidance range, while revenue grows to $18,955.9M in FY2026 and $23,812.4M in FY2027 as project capacity enters service. Operating margin normalizes from 21.0% toward 19.0% over the five-year forecast horizon as $250M of temporary marketing optimization margin from 1H 2026 dissipates and commodity pass-through revenues expand. Reinvestment demands remain elevated relative to NOPAT in FY2026 before tapering toward steady-state levels by FY2030, allowing free cash flow to expand toward steady-state levels while servicing $19,577,999,360 in total debt.
In the bull scenario, robust international demand for U.S. natural gas liquids drives accelerated commercial contracting across Targa's Mont Belvieu fractionation and Galena Park export docks. Active producer drilling in the Permian basin fills newly commissioned processing plants (including East Pembrook and subsequent Midland additions), driving consolidated revenue beyond consensus expectations to exceed $18,955.9M in FY2026 and $23,811.5M in FY2027. Low-cost pump additions on the Speedway Pipeline double throughput from 500,000 to 1,000,000 barrels per day, expanding operating leverage and sustaining operating margins at 21.0%. As major growth capital projects commission by late 2026, capital expenditures taper rapidly toward the guided maintenance level of $250M, triggering an inflection in annual free cash flow that funds significant dividend increases and opportunistic share repurchases.
| Ke ↓ / g → | 0.6% | 0.9% | 1.1% | 1.4% | 1.6% |
|---|---|---|---|---|---|
| 7.4% | $191 | $194 | $198 | $203 | $207 |
| 7.9% | $181 | $184 | $187 | $191 | $195 |
| 8.4% | $173 | $175 | $178 | $181 | $184 |
| 8.9% | $165 | $167 | $170 | $172 | $175 |
| 9.4% | $158 | $160 | $162 | $165 | $167 |
Upcoming earnings date and setup when available.
매월 발행된 리서치 판이 부여한 등급입니다. 등급은 분석 시점의 가격을 공정 가치와 비교한 것이며, 판단이 맞았는지에 대한 기록이 아닙니다.
| 연도 | 1월 | 2월 | 3월 | 4월 | 5월 | 6월 | 7월 | 8월 | 9월 | 10월 | 11월 | 12월 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 |
