FINHUB Insights

TRGP · Q4 FY25 · Oct 1 – Dec 31, 2025

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

Targa Resources Q4 FY25: revenue $4.1B (−8% year over year). Net profit $0.5B. Largest cohort Product $3.5B. The whole income statement as a sankey diagram from the SEC filing.

Period
Oct 1 – Dec 31, 2025
Reported
Feb 19, 2026 10-K
Sankey diagram of Targa Resources's income statement for Q4 FY25: revenue of $4.1 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$4.1B −8% year over year
Gross profit$1.7B 43% margin
Operating profit$0.9B 23% margin
Net profit$0.5B 13% margin

The numbers

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
ItemValueShare of revenueYear over year
Revenue 4.1 100% −8%
Product 3.5 85%
Natural Gas Reserves 0.4 10% −6%
Storage Terminaling and Export 0.1 2% −3%
NGL Transportation Fractionation… 0.1 2% −16%
Cost of revenue−2.356%
Gross profit1.743% margin+9pp
G&A−0.13%+1pp
Other−0.718%+0pp
Operating profit0.923% margin+7pp
Tax−0.1
Interest & other costs−0.3
Net profit0.513%+5pp
Filing on EDGAR More quarters of TRGP

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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