Targa Resources (TRGP) FY2024 results: revenue $16.4 billion, up 2.0% on the year
Targa Resources Corp. (TRGP) reported revenue of $16.4 billion for fiscal 2024, the year ended 31 December 2024, up 2.0% on the year before. Net income was $1.3 billion, down 2.5%, and diluted earnings per share $5.74. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2025.
Revenue
$16.4 billion
+2.0% on the year
FY2017FY2024
Operating margin
16.5%
16.4% a year earlier
FY2017FY2024
Net income
$1.3 billion
-2.5% on the year
FY2017FY2024
Diluted EPS
$5.74
+56.8% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
3,650
3,212
2,381
+13.6%
Capital expenditure
2,966
2,385
1,334
+24.3%
Free cash flow
684
826
1,046
-17.2%
Free cash flow margin
4.2%
5.1%
5.0%
Cash from investing
-3,021
-2,401
-4,150
Cash from financing
-613
-888
1,829
Depreciation and amortisation
1,423
1,330
1,096
+7.0%
Share-based compensation
63.2
62.4
57.5
+1.3%
Dividend per share
$2.75
$1.85
$1.40
+48.6%
Diluted shares, weighted
221m
226m
231m
-2.1%
Shares outstanding at period end
218m
223m
226m
-2.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
2,592
2,740
2,666
-5.4%
Non-controlling interest
1,826
1,870
2,316
-2.4%
Debt
14,175
12,954
11,536
+9.4%
Operating lease liabilities
90.4
56.5
28.6
+60.0%
Finance lease liabilities
240
244
193
-1.5%
Other liabilities
3,810
2,807
2,820
+35.7%
Total liabilities and equity
22,734
20,672
19,560
+10.0%
Fixed assets
18,063
15,806
14,215
+14.3%
Goodwill
45.2
45.2
45.2
0.0%
Intangible assets
1,977
2,351
2,735
-15.9%
Cash and equivalents
157
142
219
+11.0%
Receivables
1,618
1,471
1,408
+10.0%
Inventory
334
372
394
-10.0%
Other assets
539
485
544
+11.0%
Total assets
22,734
20,672
19,560
+10.0%
10-K for the year ended 31 December 2024, filed 20 February 2025: the filing.