Targa Resources annual debt-to-equity ratio
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2025
Targa Resources Debt-to-Equity Ratio Growth & History (TRGP)
Targa Resources's debt-to-equity ratio was 5.47 for fiscal 2025.
View full Targa Resources company overviewTarga Resources annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 5.47 | 0.11 | +1.97% |
| 2024 | 2024-12-31 | 5.36 | 0.83 | +18.38% |
| 2023 | 2023-12-31 | 4.53 | 0.50 | +12.39% |
| 2022 | 2022-12-31 | 4.03 | 0.81 | +25.13% |
| 2021 | 2021-12-31 | 3.22 | 0.42 | +14.82% |
| 2020 | 2020-12-31 | 2.81 | 1.28 | +84.18% |
| 2019 | 2019-12-31 | 1.52 | 0.43 | +39.00% |
| 2018 | 2018-12-31 | 1.10 | 0.28 | +33.59% |
| 2017 | 2017-12-31 | 0.82 | −0.11 | −11.80% |
| 2016 | 2016-12-31 | 0.93 | −2.98 | −76.24% |
| 2015 | 2015-12-31 | 3.91 | −13.08 | −76.97% |
| 2014 | 2014-12-31 | 16.99 | −3.10 | −15.41% |
| 2013 | 2013-12-31 | 20.09 | 2.91 | +16.95% |
| 2012 | 2012-12-31 | 17.18 | 7.27 | +73.31% |
| 2011 | 2011-12-31 | 9.91 | −0.72 | −6.81% |
| 2010 | 2010-12-31 | 10.64 | — | — |
Targa Resources quarterly debt-to-equity ratio
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Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 5.20 | −1.01 | −16.29% |
| Q1 2026 | 2026-03-31 | 5.88 | −0.46 | −7.33% |
| Q4 2025 | 2025-12-31 | 5.47 | 0.11 | +1.97% |
| Q3 2025 | 2025-09-30 | 6.19 | 0.87 | +16.35% |
| Q2 2025 | 2025-06-30 | 6.21 | 0.93 | +17.53% |
| Q1 2025 | 2025-03-31 | 6.34 | 1.69 | +36.25% |
| Q4 2024 | 2024-12-31 | 5.36 | 0.83 | +18.38% |
| Q3 2024 | 2024-09-30 | 5.32 | 0.39 | +7.84% |
| Q2 2024 | 2024-06-30 | 5.29 | 0.86 | +19.33% |
| Q1 2024 | 2024-03-31 | 4.65 | 0.16 | +3.55% |
| Q4 2023 | 2023-12-31 | 4.53 | 0.50 | +12.39% |
| Q3 2023 | 2023-09-30 | 4.93 | 0.53 | +12.04% |
| Q2 2023 | 2023-06-30 | 4.43 | 1.03 | +30.15% |
| Q1 2023 | 2023-03-31 | 4.50 | 0.39 | +9.53% |
| Q4 2022 | 2022-12-31 | 4.03 | 0.81 | +25.13% |
| Q3 2022 | 2022-09-30 | 4.40 | 1.46 | +49.42% |
| Q2 2022 | 2022-06-30 | 3.40 | 0.38 | +12.69% |
| Q1 2022 | 2022-03-31 | 4.10 | 1.02 | +32.94% |
| Q4 2021 | 2021-12-31 | 3.22 | 0.42 | +14.82% |
| Q3 2021 | 2021-09-30 | 2.94 | 0.25 | +9.09% |
| Q2 2021 | 2021-06-30 | 3.02 | 0.42 | +16.27% |
| Q1 2021 | 2021-03-31 | 3.09 | 0.56 | +22.30% |
| Q4 2020 | 2020-12-31 | 2.81 | 1.28 | +84.18% |
| Q3 2020 | 2020-09-30 | 2.70 | 1.27 | +88.36% |
| Q2 2020 | 2020-06-30 | 2.60 | 1.33 | +104.70% |
| Q1 2020 | 2020-03-31 | 2.52 | 1.22 | +93.37% |
| Q4 2019 | 2019-12-31 | 1.52 | 0.43 | +39.00% |
| Q3 2019 | 2019-09-30 | 1.43 | 0.50 | +53.46% |
| Q2 2019 | 2019-06-30 | 1.27 | 0.40 | +46.33% |
| Q1 2019 | 2019-03-31 | 1.31 | 0.47 | +57.01% |
| Q4 2018 | 2018-12-31 | 1.10 | 0.28 | +33.59% |
| Q3 2018 | 2018-09-30 | 0.93 | 0.12 | +14.33% |
| Q2 2018 | 2018-06-30 | 0.87 | 0.18 | +26.26% |
| Q1 2018 | 2018-03-31 | 0.83 | −0.00 | −0.38% |
| Q4 2017 | 2017-12-31 | 0.82 | −0.11 | −11.80% |
| Q3 2017 | 2017-09-30 | 0.82 | −0.07 | −8.28% |
| Q2 2017 | 2017-06-30 | 0.69 | −0.22 | −24.17% |
| Q1 2017 | 2017-03-31 | 0.83 | −0.09 | −9.55% |
| Q4 2016 | 2016-12-31 | 0.93 | −2.98 | −76.24% |
| Q3 2016 | 2016-09-30 | 0.89 | −3.12 | −77.78% |
| Q2 2016 | 2016-06-30 | 0.91 | −2.92 | −76.30% |
| Q1 2016 | 2016-03-31 | 0.92 | −2.93 | −76.07% |
| Q4 2015 | 2015-12-31 | 3.91 | −13.08 | −76.97% |
| Q3 2015 | 2015-09-30 | 4.01 | −15.66 | −79.62% |
| Q2 2015 | 2015-06-30 | 3.82 | −16.26 | −80.96% |
| Q1 2015 | 2015-03-31 | 3.86 | −16.17 | −80.75% |
| Q4 2014 | 2014-12-31 | 16.99 | −3.10 | −15.41% |
| Q3 2014 | 2014-09-30 | 19.67 | 0.68 | +3.56% |
| Q2 2014 | 2014-06-30 | 20.08 | −2.63 | −11.60% |
| Q1 2014 | 2014-03-31 | 20.03 | — | — |
| Q4 2013 | 2013-12-31 | 20.09 | 2.91 | +16.95% |
| Q3 2013 | 2013-09-30 | 18.99 | 5.63 | +42.09% |
| Q2 2013 | 2013-06-30 | 22.71 | 11.29 | +98.75% |
| Q4 2012 | 2012-12-31 | 17.18 | 7.27 | +73.31% |
| Q3 2012 | 2012-09-30 | 13.37 | 3.69 | +38.13% |
| Q2 2012 | 2012-06-30 | 11.43 | 3.96 | +53.04% |
| Q1 2012 | 2012-03-31 | 10.48 | — | — |
| Q4 2011 | 2011-12-31 | 9.91 | −0.72 | −6.81% |
| Q3 2011 | 2011-09-30 | 9.68 | — | — |
| Q2 2011 | 2011-06-30 | 7.47 | — | — |
| Q4 2010 | 2010-12-31 | 10.64 | — | — |
Targa Resources debt-to-equity ratio trends
Over the last five fiscal years, Targa Resources's debt-to-equity ratio increased from 2.81 to 5.47, a change of 2.66. The latest reported quarter, Q2 2026, shows 5.20.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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