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Targa Resources Valuation Multiples
Discover revenue and EBITDA valuation multiples for Targa Resources and similar public comparables like Diamondback Energy, RWE, ONEOK, Cenovus Energy and more.
Targa Resources Overview
About Targa Resources
Targa Resources Corp is a midstream firm that mainly operates gathering and processing assets with substantial positions in the Permian, Stack, Scoop, and Bakken plays. It has fractionation capacity at Mont Belvieu and operates a liquefied petroleum gas export terminal. The Grand Prix natural gas liquids pipeline is another important asset. It has two operating segments: Gathering and Processing, and, Logistics and Transportation (also referred to as the Downstream Business).
Founded
2005
HQ
Employees
3.6K
Website
Financials (LTM)
EV
$69B
Targa Resources Financials
Targa Resources reported last 12-month revenue of $18B and EBITDA of $5B.
In the same LTM period, Targa Resources generated $7B in gross profit, $5B in EBITDA, and $2B in net income.
Revenue (LTM)
Targa Resources P&L
In the most recent fiscal year, Targa Resources reported revenue of $17B and EBITDA of $5B.
Targa Resources expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $18B | XXX | $17B | XXX | XXX | XXX |
| Gross Profit | $7B | XXX | $5B | XXX | XXX | XXX |
| Gross Margin | 36% | XXX | 29% | XXX | XXX | XXX |
| EBITDA | $5B | XXX | $5B | XXX | XXX | XXX |
| EBITDA Margin | 28% | XXX | 29% | XXX | XXX | XXX |
| EBIT Margin | 19% | XXX | 20% | XXX | XXX | XXX |
| Net Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Net Margin | 11% | XXX | 11% | XXX | XXX | XXX |
| Net Debt | — | — | $17B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Targa Resources Stock Performance
Targa Resources has current market cap of $52B, and enterprise value of $69B.
Market Cap Evolution
Targa Resources' stock price is $239.81.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $69B | $52B | 0.4% | XXX | XXX | XXX | $8.95 |
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Start Free TrialTarga Resources Valuation Multiples
Targa Resources trades at 3.8x EV/Revenue multiple, and 13.4x EV/EBITDA.
EV / Revenue (LTM)
Targa Resources Financial Valuation Multiples
As of April 17, 2026, Targa Resources has market cap of $52B and EV of $69B.
Equity research analysts estimate Targa Resources' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Targa Resources has a P/E ratio of 25.9x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $52B | XXX | $52B | XXX | XXX | XXX |
| EV (current) | $69B | XXX | $69B | XXX | XXX | XXX |
| EV/Revenue | 3.8x | XXX | 4.0x | XXX | XXX | XXX |
| EV/EBITDA | 13.4x | XXX | 13.9x | XXX | XXX | XXX |
| EV/EBIT | 19.9x | XXX | 20.5x | XXX | XXX | XXX |
| EV/Gross Profit | 10.6x | XXX | 13.8x | XXX | XXX | XXX |
| P/E | 25.9x | XXX | 26.8x | XXX | XXX | XXX |
| EV/FCF | 150.6x | XXX | 101.5x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Targa Resources Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Targa Resources Margins & Growth Rates
Targa Resources' revenue in the last 12 month grew by 18%.
Targa Resources' revenue per employee in the last FY averaged $4.8M, while opex per employee averaged $0.5M for the same period.
Targa Resources' rule of 40 is 48% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Targa Resources' rule of X is 80% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Targa Resources Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 18% | XXX | 21% | XXX | XXX | XXX |
| EBITDA Margin | 28% | XXX | 29% | XXX | XXX | XXX |
| EBITDA Growth | 12% | XXX | 12% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 48% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 80% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $4.8M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 2% | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 10% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Targa Resources Public Comps
See public comps and valuation multiples for other Energy Services and Oil & Gas comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Targa Resources | XXX | XXX | XXX | XXX | XXX | XXX |
| Diamondback Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| RWE | XXX | XXX | XXX | XXX | XXX | XXX |
| ONEOK | XXX | XXX | XXX | XXX | XXX | XXX |
| Cenovus Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| Cheniere Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Targa Resources M&A Activity
Targa Resources acquired XXX companies to date.
Last acquisition by Targa Resources was on XXXXXXXX, XXXXX. Targa Resources acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Targa Resources
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialTarga Resources Investment Activity
Targa Resources invested in XXX companies to date.
Targa Resources made its latest investment on XXXXXXXX, XXXXX. Targa Resources invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Targa Resources
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Targa Resources
| When was Targa Resources founded? | Targa Resources was founded in 2005. |
| Where is Targa Resources headquartered? | Targa Resources is headquartered in United States. |
| How many employees does Targa Resources have? | As of today, Targa Resources has over 3K employees. |
| Who is the CEO of Targa Resources? | Targa Resources' CEO is Matthew J. Meloy. |
| Is Targa Resources publicly listed? | Yes, Targa Resources is a public company listed on NYSE. |
| What is the stock symbol of Targa Resources? | Targa Resources trades under TRGP ticker. |
| When did Targa Resources go public? | Targa Resources went public in 2010. |
| Who are competitors of Targa Resources? | Targa Resources main competitors are Diamondback Energy, RWE, ONEOK, Cenovus Energy. |
| What is the current market cap of Targa Resources? | Targa Resources' current market cap is $52B. |
| What is the current revenue of Targa Resources? | Targa Resources' last 12 months revenue is $18B. |
| What is the current revenue growth of Targa Resources? | Targa Resources revenue growth (NTM/LTM) is 18%. |
| What is the current EV/Revenue multiple of Targa Resources? | Current revenue multiple of Targa Resources is 3.8x. |
| Is Targa Resources profitable? | Yes, Targa Resources is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Targa Resources? | Targa Resources' last 12 months EBITDA is $5B. |
| What is Targa Resources' EBITDA margin? | Targa Resources' last 12 months EBITDA margin is 28%. |
| What is the current EV/EBITDA multiple of Targa Resources? | Current EBITDA multiple of Targa Resources is 13.4x. |
| What is the current FCF of Targa Resources? | Targa Resources' last 12 months FCF is $457M. |
| What is Targa Resources' FCF margin? | Targa Resources' last 12 months FCF margin is 3%. |
| What is the current EV/FCF multiple of Targa Resources? | Current FCF multiple of Targa Resources is 150.6x. |
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