TARGA RESOURCES CORP. FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $17.0B |
| Gross margin | 38.3% |
| Operating income | $3.3B |
| Net income | $1.9B |
| Diluted EPS | $8.49 |
| Cash & equivalents | $166.1M |
| Total assets | $25.2B |
| Long-term debt | $17.4B |
Key takeaway
Targa Resources reported $17.03 billion in revenue and $1.92 billion in net income for fiscal 2025, generating diluted EPS of $8.49.
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Beneath the surface
Cash of only $166.1 million against total debt carrying value of $16.52 billion (and long-term debt of $17.43 billion) implies a heavily leveraged balance sheet with minimal liquidity cushion.
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This is the free preview. The full analysis explains every line item above and includes 7 more findings — plus insider trades, activist stakes, and 8-K events for TRGP.
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