Filing Flows › Targa Resources (TRGP) › Operating margin
Targa Resources (TRGP) operating margin by quarter
Targa Resources' operating margin was 19.6% in Q3 2026 (third quarter 2026), -8.2 pts from Q2 2026. Over the last 7 quarters it ranged from 11.9% (Q1 2025) to 27.8% (Q2 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 19.6% | -8.2 pts | -0.6 pts |
| Q2 2026 | 27.8% | +7.1 pts | +3.5 pts |
| Q1 2026 | 20.7% | -1.9 pts | +8.8 pts |
| Q4 2025 | 22.6% | +2.5 pts | — |
| Q3 2025 | 20.2% | -4.1 pts | — |
| Q2 2025 | 24.3% | +12.4 pts | — |
| Q1 2025 | 11.9% | — | — |
Q3 2026 at a glance
Targa Resources, Q3 2026: revenue $5.6B (+35% year over year), operating margin 19.6%, net earnings $658M, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
Questions
What is Targa Resources' operating margin?
Targa Resources' operating margin was 19.6% in Q3 2026 (third quarter 2026), -8.2 pts from Q2 2026.
How has Targa Resources' operating margin changed?
Over the last 7 quarters it ranged from 11.9% (Q1 2025) to 27.8% (Q2 2026).