What is the current annual operating margin of TRGP?

As of today, TRGP annual operating margin is 19.56%

What is 1-year change in TRGP annual operating margin?

TRGP annual operating margin is up +10.45% year-over-year

What is 3-year change in TRGP annual operating margin?

TRGP annual operating margin is up +135.66% over the past 3 years

How far is TRGP annual operating margin from its all-time high?

TRGP annual operating margin is currently at its all-time high

How does TRGP annual operating margin rank versus sector peers?

TRGP annual operating margin is higher than 61.41% of companies in Energy sector

When is TRGP next annual earnings release?

As of today, the next annual earnings release for TRGP has not been scheduled

When is TRGP next earnings release?

As of today, the next earnings release for TRGP has not been scheduled

TRGP Operating Margin History & Chart Since 2007

Annual Operating Margin

19.56%1.85%+10.45%

December 31, 2025

Summary

Current Value: As of today, TRGP annual operating margin is 19.56%, up +10.45% on December 31, 2025
Historical Performance: TRGP annual operating margin is up +135.66% over the past 3 years, up +27.84% over the past 5 years
All-Time High Comparison: TRGP annual operating margin is currently at its all-time high
3-Year Low Comparison: TRGP annual operating margin is +135.66% above its 3-year low of 8.30% reached on an earlier date
Sector Comparison: TRGP annual operating margin is higher than 61.41% of companies in Energy sector

Operating Margin Chart

beforeafter

Performance

TRGP Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Operating Margin	Dec 31, 25	19.56%	+10.4%	+135.7%	+27.8%	+468.6%
Quarterly Operating Margin	Sep 30, 26	-	–	–	–	–
Price	Nov 6, 26	$264.59	+55.8%	+202.3%	+366.8%	+673.4%
PE Ratio	Nov 6, 26	31.98	+40.0%	+40.2%	-33.5%	–
Annual Revenue	Dec 31, 25	$17.19B	+3.4%	-17.9%	+107.8%	+214.8%
Annual Operating Profit	Dec 31, 25	$3.33B	+13.2%	+91.7%	+163.3%	+1674.8%
Annual Gross Margin	Dec 31, 25	21.77%	+8.8%	+122.6%	+18.3%	+102.3%
Annual Net Margin	Dec 31, 25	11.49%	+23.7%	+57.2%	+171.7%	+890.5%

Operating Margin Highs

TRGP Annual Operating Margin Highs Comparison
Period	High	Date	Current
3Y	19.56%	Dec 31, 25	at high
5Y	19.56%	Dec 31, 25	at high
All	19.56%	Dec 31, 25	at high

Operating Margin Lows

TRGP Annual Operating Margin Lows Comparison
Period	Low	Date	Current
3Y	8.30%	N/A	+135.7%
5Y	8.30%	Dec 31, 22	+135.7%
All	3.10%	Dec 31, 08	+531.0%

Operating Margin History

Year	Value	Change
2025	19.56%	+10.4%
2024	17.71%	+26.5%
2023	14.00%	+68.7%
2022	8.30%	-20.5%
2021	10.44%	-31.8%
2020	15.30%	+158.4%
2019	5.92%	+20.6%
2018	4.91%	+35.6%
2017	3.62%	+7.7%
2016	3.36%	-38.7%

Year	Value	Change
2015	5.48%	-26.7%
2014	7.48%	+37.2%
2013	5.45%	+3.0%
2012	5.29%	+5.4%
2011	5.02%	+45.9%
2010	3.44%	-28.8%
2009	4.83%	+55.8%
2008	3.10%	-19.3%
2007	3.84%	-

FAQ

What is the current annual operating margin of TRGP?: As of today, TRGP annual operating margin is 19.56%
What is 1-year change in TRGP annual operating margin?: TRGP annual operating margin is up +10.45% year-over-year
What is 3-year change in TRGP annual operating margin?: TRGP annual operating margin is up +135.66% over the past 3 years
How far is TRGP annual operating margin from its all-time high?: TRGP annual operating margin is currently at its all-time high
How does TRGP annual operating margin rank versus sector peers?: TRGP annual operating margin is higher than 61.41% of companies in Energy sector
When is TRGP next annual earnings release?: As of today, the next annual earnings release for TRGP has not been scheduled

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

Quarterly Operating Margin

N/A

September 30, 2026

Performance

TRGP Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Operating Margin	Sep 30, 26	-	–	–	–	–
Annual Operating Margin	Dec 31, 25	19.56%	–	+10.4%	+135.7%	+27.8%
Price	Nov 6, 26	$264.59	-1.4%	+55.8%	+202.3%	+366.8%
PE Ratio	Nov 6, 26	31.98	+24.9%	+40.0%	+40.2%	-33.5%
Quarterly Revenue	Sep 30, 26	-	–	–	–	–
Quarterly Operating Profit	Sep 30, 26	-	–	–	–	–
Quarterly Gross Margin	Sep 30, 26	-	–	–	–	–
Quarterly Net Margin	Sep 30, 26	-	–	–	–	–

Quarterly Operating Margin Highs

TRGP Quarterly Operating Margin Highs Comparison
Period	High	Date	Current
1Y	28.73%	Jun 30, 26	N/A
3Y	28.73%	Jun 30, 26	N/A
5Y	28.73%	Jun 30, 26	N/A
All	28.73%	Jun 30, 26	N/A

Quarterly Operating Margin Lows

TRGP Quarterly Operating Margin Lows Comparison
Period	Low	Date	Current
1Y	21.06%	N/A	N/A
3Y	12.69%	N/A	N/A
5Y	-4.66%	Dec 31, 22	N/A
All	-4.66%	Dec 31, 22	N/A

Quarterly Operating Margin History

Month	Value	Change
Jun 2026	28.73%	+13.0%
Mar 2026	25.42%	+7.7%
Dec 2025	23.61%	+12.1%
Sep 2025	21.06%	+4.9%
Jun 2025	20.08%	+16.5%
Mar 2025	17.23%	-5.0%
Dec 2024	18.13%	-7.8%
Sep 2024	19.66%	+4.1%
Jun 2024	18.89%	+28.8%
Mar 2024	14.67%	-1.0%
Dec 2023	14.82%	+16.8%
Sep 2023	12.69%	-10.3%
Jun 2023	14.15%	-0.8%
Mar 2023	14.26%	+406.0%
Dec 2022	-4.66%	-139.0%
Sep 2022	11.95%	+18.4%
Jun 2022	10.09%	-13.9%
Mar 2022	11.72%	+23.5%
Dec 2021	9.49%	-4.3%
Sep 2021	9.92%	-2.1%
Jun 2021	10.13%	-20.9%
Mar 2021	12.80%	-43.1%
Dec 2020	22.49%	+75.0%
Sep 2020	12.85%	+29.1%
Jun 2020	9.95%	-8.8%
Mar 2020	10.91%	-0.6%
Dec 2019	10.98%	+77.1%
Sep 2019	6.20%	+69.9%
Jun 2019	3.65%	+69.0%
Mar 2019	2.16%	-50.6%
Dec 2018	4.37%	-19.2%
Sep 2018	5.41%	+11.8%
Jun 2018	4.84%	-2.4%
Mar 2018	4.96%	-13.7%

Month	Value	Change
Dec 2017	5.75%	+110.6%
Sep 2017	2.73%	+59.6%
Jun 2017	1.71%	-50.7%
Mar 2017	3.47%	-18.2%
Dec 2016	4.24%	+59.4%
Sep 2016	2.66%	-13.9%
Jun 2016	3.09%	-44.7%
Mar 2016	5.59%	+22.3%
Dec 2015	4.57%	-27.9%
Sep 2015	6.34%	+6.9%
Jun 2015	5.93%	-19.4%
Mar 2015	7.36%	-4.3%
Dec 2014	7.69%	+6.5%
Sep 2014	7.22%	-3.3%
Jun 2014	7.47%	+7.5%
Mar 2014	6.95%	+6.1%
Dec 2013	6.55%	+21.1%
Sep 2013	5.41%	+41.3%
Jun 2013	3.83%	-21.2%
Mar 2013	4.86%	+1.5%
Dec 2012	4.79%	+5.5%
Sep 2012	4.54%	-13.7%
Jun 2012	5.26%	-17.8%
Mar 2012	6.40%	+7.7%
Dec 2011	5.94%	+28.9%
Sep 2011	4.61%	-19.5%
Jun 2011	5.73%	+26.2%
Mar 2011	4.54%	+52.9%
Dec 2010	2.97%	-16.3%
Sep 2010	3.55%	-9.0%
Jun 2010	3.90%	+5.7%
Mar 2010	3.69%	-42.4%
Dec 2009	6.41%	+44.4%
Sep 2009	4.44%	-

FAQ

When is TRGP next earnings release?: As of today, the next earnings release for TRGP has not been scheduled

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

Data Sources & References

TRGP Official Website www.targaresources.com
Most Recent Annual Report (10-K) www.sec.gov/Archives/edgar/data/1389170/000119312526059296/0001193125-26-059296-index.htm
TRGP Profile on Yahoo Finance finance.yahoo.com/quote/TRGP
TRGP Profile on NASDAQ.com www.nasdaq.com/market-activity/stocks/trgp