Targa Resources (TRGP) FY2022 results: revenue $20.9 billion, up 23.5% on the year
Targa Resources Corp. (TRGP) reported revenue of $20.9 billion for fiscal 2022, the year ended 31 December 2022, up 23.5% on the year before. Net income was $1.2 billion, up 1579.1%, and diluted earnings per share $3.88. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2023.
Revenue
$20.9 billion
+23.5% on the year
FY2016FY2022
Operating margin
8.3%
5.1% a year earlier
FY2016FY2022
Net income
$1.2 billion
+1,579.1% on the year
FY2016FY2022
Diluted EPS
$3.88
FY2016FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
2,381
2,303
1,744
+3.4%
Capital expenditure
1,334
505
952
+164.2%
Free cash flow
1,046
1,798
793
-41.8%
Free cash flow margin
5.0%
10.6%
9.6%
Cash from investing
-4,150
-473
-738
Cash from financing
1,829
-1,914
-1,095
Depreciation and amortisation
1,096
871
865
+25.9%
Share-based compensation
57.5
59.2
66.2
-2.9%
Dividend per share
$1.40
$0.40
$1.21
+250.0%
Diluted shares, weighted
231m
229m
232m
+1.1%
Shares outstanding at period end
226m
228m
228m
-1.0%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
2,666
2,012
2,654
+32.5%
Non-controlling interest
2,316
3,167
3,249
-26.9%
Debt
11,536
6,597
7,756
+74.9%
Operating lease liabilities
28.6
34.5
46.2
-17.1%
Finance lease liabilities
193
13.7
18.7
+1,308.8%
Other liabilities
2,820
3,384
2,152
-16.7%
Total liabilities and equity
19,560
15,208
15,876
+28.6%
Fixed assets
14,215
11,668
12,174
+21.8%
Goodwill
45.2
45.2
45.2
0.0%
Intangible assets
2,735
1,095
1,382
+149.8%
Cash and equivalents
219
158
243
+38.2%
Receivables
1,408
1,332
863
+5.7%
Inventory
394
153
182
+156.7%
Other assets
544
757
987
-28.1%
Total assets
19,560
15,208
15,876
+28.6%
10-K for the year ended 31 December 2022, filed 22 February 2023: the filing.