Company / Operating Margin
Targa Resources Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
19.6%
FY2025
5-year range
5.1% / 19.6%
FY2021-FY2025
Trend
+18.9%
vs FY2024
Sector context
#30 of 81
Energy
What the data says
At 19.6%, Targa Resources's operating margin ranks #30 of 81 in the Energy sector. Operating Margin has fluctuated over the past 10 years, ranging from -1.4% in FY2017 to 19.6% in FY2025.
Based on SEC 10-K filings.
19.6% in FY2025 with a 5-year CAGR of +17.3%.
Improved from 5.1% to 19.6% over the past 2 years.
Energy sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +11.3pp
- 5-Year Change
- +17.3pp
- 10-Year Change
- -
Sector benchmark
#30 of 81 in EnergyTop 37% of 81This company 19.6% Sector average 12.0%
▼
+63.6% above sector average
Key checks
Key Insights
- In FY2025, operating margin increased 18.9% year-over-year.
- Currently 7.6pp above the Energy sector average.
- Lowest operating margin in the period was in FY2017.
Company context
Key Data Points
- Altman Z-Score 1.19 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
- Strong return on equity: 63.9%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 19.6% | +18.9% |
| FY2024 | 16.4% | +222.5% |
| FY2023 | 5.1% | -38.3% |
| FY2022 | 8.3% | +62.0% |
| FY2021 | 5.1% | +124.7% |
| FY2020 | 2.3% | +2.3% |
| FY2019 | 2.2% | +122.0% |
| FY2018 | 1.0% | +172.0% |
| FY2017 | -1.4% | -239.0% |
| FY2016 | 1.0% | - |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026