FINHUB Insights

Targa Resources Q4 FY25: where the revenue came from and where it went

The whole income statement of Targa Resources for this quarter, as one diagram: what earned the revenue, and what it went on.

Period
Oct 1 – Dec 31, 2025
Reported
Feb 19, 2026 10-K accession 0001193125-26-059296

Revenue$4.06B −8% year over year
Gross profit$1.75B 43% margin
Operating profit$0.92B 23% margin
Net profit$0.55B 13% margin
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The numbers

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
ItemValueShare of revenueYear over year
Revenue 4.06 100% −8%
Product 3.47 85%
Natural gas reserves 0.39 10%
Storage terminaling 0.13 3%
NGL transportation 0.07 2%
Cost of revenue−2.3157%
Gross profit1.7543% margin+9pp
G&A−0.113%+1pp
Other−0.7217%+0pp
Operating profit0.9223% margin+7pp
Interest & other costs−0.23
Tax−0.14
Net profit0.55 13% margin+5pp

Source of the numbers: structured XBRL data from the filing (10-K). The diagram is generated automatically and checked against EDGAR before release. The fourth quarter has no column of its own in an annual report, so it is the full year minus the first nine months. How we calculate it → About and methodology.

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