Cash flow Targa Resources Corp.

Equities

TRGP

US87612G1013

Oil & Gas Transportation Services

Market Closed - Nyse Other stock markets 21:00:02 06/09/2024 BST			5-day change	1st Jan Change
146.75 ^USD	-2.02%		-0.10%	+68.93%

09-04	Sector Update: Energy Stocks Retreat Late Afternoon	MT
09-04	Sector Update: Energy Stocks Decline in Wednesday Afternoon Trading	MT

802ac8679bd3e1f8789ed53cef3a6568.v2KWr7Ty6dDRK3KhK0K-Mf7o4WFd9EZ6Xj_69yTs4P0.1TvF6uOoxIWobDqYWBqPYp-Zu1M4vBEyP36JpUGNo5DxNNzM-MG-hYhBFQ

Published financial data: TARGA RESOURCES CORP.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	8.67B	8.26B	16.95B	20.93B	16.06B
Total Revenues	8.67B	8.26B	16.95B	20.93B	16.06B
Cost of Goods Sold, Total	6.12B	5.11B	13.73B	16.88B	10.68B
Gross Profit	2.55B	3.16B	3.22B	4.05B	5.38B
Selling General & Admin Expenses, Total	1.07B	1.03B	1.02B	1.22B	1.43B
Depreciation & Amortization - (IS)	959M	865M	871M	1.1B	1.33B
Other Operating Expenses	200K	2.6M	100K	-	1.5M
Other Operating Expenses, Total	2.03B	1.9B	1.89B	2.32B	2.76B
Operating Income	520M	1.26B	1.33B	1.73B	2.63B
Interest Expense, Total	-339M	-391M	-388M	-446M	-688M
Net Interest Expenses	-339M	-391M	-388M	-446M	-688M
Income (Loss) On Equity Invest.	39M	72.6M	-23.9M	9.1M	9M
Other Non Operating Income (Expenses)	-	3.4M	600K	-15.1M	-2.8M
EBT, Excl. Unusual Items	220M	944M	918M	1.28B	1.94B
Restructuring Charges	-	-6.5M	-	-	-
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	69.3M	-	-	436M	-
Gain (Loss) On Sale Of Assets	-71.1M	-58.4M	-2M	9.6M	-
Asset Writedown	-256M	-2.5B	-463M	-9.8M	-
Insurance Settlements	-	-	-	-	-
Other Unusual Items	-8.7M	45.9M	-16.7M	-49.6M	-2.1M
EBT, Incl. Unusual Items	-46.7M	-1.57B	437M	1.66B	1.94B
Income Tax Expense	-87.9M	-248M	14.8M	132M	363M
Earnings From Continuing Operations	41.2M	-1.32B	422M	1.53B	1.58B
Net Income to Company	41.2M	-1.32B	422M	1.53B	1.58B
Minority Interest	-250M	-229M	-351M	-336M	-233M
Net Income - (IS)	-209M	-1.55B	71.2M	1.2B	1.35B
Preferred Dividend and Other Adjustments	125M	131M	87.3M	299M	518M
Net Income to Common Incl Extra Items	-334M	-1.68B	-16.1M	897M	828M
Net Income to Common Excl. Extra Items	-334M	-1.68B	-16.1M	897M	828M
Per Share Items
Net EPS - Basic	-1.44	-7.26	-0.07	3.95	3.69
Basic EPS - Continuing Operations	-1.44	-7.26	-0.07	3.95	3.69
Basic Weighted Average Shares Outstanding	232M	232M	229M	227M	225M
Net EPS - Diluted	-1.44	-7.26	-0.07	3.88	3.66
Diluted EPS - Continuing Operations	-1.44	-7.26	-0.07	3.88	3.66
Diluted Weighted Average Shares Outstanding	232M	232M	229M	231M	226M
Normalized Basic EPS	-0.49	1.56	0.98	2.03	4.37
Normalized Diluted EPS	-0.49	1.56	0.98	2	4.35
Dividend Per Share	3.64	0.4	0.65	1.4	2
Payout Ratio	-455.78	-24.72	263.34	31.76	31.75
Distributable Cash Payout Ratio (Income Trusts)	89.4	7.91	9.65	13.94	17.11
Supplemental Items
EBITDA	1.48B	2.13B	2.2B	2.83B	3.96B
EBITA	696M	1.41B	1.46B	1.98B	3.02B
EBIT	520M	1.26B	1.33B	1.73B	2.63B
EBITDAR	1.54B	2.17B	2.25B	2.91B	4.07B
Total Revenues (As Reported)	8.67B	8.26B	16.95B	20.93B	16.06B
Effective Tax Rate - (Ratio)	188.22	15.77	3.39	7.92	18.7
Current Domestic Taxes	-	-15.4M	2.7M	6.7M	13.6M
Total Current Taxes	-	-15.4M	2.7M	6.7M	13.6M
Deferred Domestic Taxes	-87.9M	-233M	12.1M	125M	350M
Total Deferred Taxes	-87.9M	-233M	12.1M	125M	350M
Normalized Net Income	-113M	361M	223M	462M	982M
Distributable Cash	947M	1.17B	1.54B	2.28B	2.62B
Interest Capitalized	61.8M	33M	4.1M	16.3M	41.1M
Interest on Long-Term Debt	3M	8.2M	5.4M	11.2M	16.1M
Supplemental Operating Expense Items
General and Administrative Expenses	281M	248M	273M	310M	349M
Net Rental Expense, Total	52.7M	44.3M	44.2M	76.4M	110M
Imputed Operating Lease Interest Expense	23.26M	19.17M	19.18M	31.02M	52.12M
Imputed Operating Lease Depreciation	29.44M	25.13M	25.02M	45.38M	57.88M
Stock-Based Comp., G&A Exp. (Total)	61.8M	66.3M	59.2M	57.5M	62.4M
Total Stock-Based Compensation	61.8M	66.3M	59.2M	57.5M	62.4M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	331M	243M	158M	219M	142M
Total Cash And Short Term Investments	331M	243M	158M	219M	142M
Accounts Receivable, Total	855M	863M	1.33B	1.41B	1.47B
Other Receivables	-	-	-	-	-
Total Receivables	855M	863M	1.33B	1.41B	1.47B
Inventory	162M	182M	153M	394M	372M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	311M	173M	126M	335M	210M
Total Current Assets	1.66B	1.46B	1.77B	2.36B	2.19B
Gross Property Plant And Equipment	19.92B	20.18B	20.65B	23.97B	26.27B
Accumulated Depreciation	-5.33B	-8.01B	-8.93B	-9.7B	-10.46B
Net Property Plant And Equipment	14.59B	12.17B	11.72B	14.27B	15.81B
Long-term Investments	739M	714M	586M	131M	146M
Goodwill	45.2M	-	-	-	45.2M
Other Intangibles, Total	1.74B	1.38B	1.09B	2.73B	2.35B
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	47.4M	145M	38.6M	65.6M	129M
Total Assets	18.82B	15.88B	15.21B	19.56B	20.67B
Liabilities
Accounts Payable, Total	997M	834M	1.4B	1.45B	1.57B
Accrued Expenses, Total	188M	307M	399M	433M	490M
Current Portion of Long-Term Debt	370M	356M	150M	800M	575M
Current Portion of Leases	20M	24.1M	24.5M	48.7M	67.5M
Current Income Taxes Payable	62.4M	-	-	-	-
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	235M	258M	323M	336M	54M
Total Current Liabilities	1.87B	1.78B	2.3B	3.07B	2.76B
Long-Term Debt	7.41B	7.37B	6.42B	10.51B	12.09B
Long-Term Leases	73M	64.9M	48.2M	222M	301M
Unearned Revenue Non Current	172M	168M	172M	199M	249M
Deferred Tax Liability Non Current	434M	152M	136M	328M	536M
Other Non Current Liabilities	127M	138M	205M	254M	127M
Total Liabilities	10.09B	9.67B	9.28B	14.58B	16.06B
Preferred Stock Convertible	279M	301M	750M	-	-
Total Preferred Equity	279M	301M	750M	-	-
Common Stock, Total	200K	200K	200K	200K	200K
Additional Paid In Capital	5.22B	4.84B	4.27B	3.7B	3.06B
Retained Earnings	-340M	-1.89B	-1.82B	-627M	492M
Treasury Stock	-53.5M	-151M	-204M	-465M	-897M
Comprehensive Income and Other	92.5M	-142M	-231M	54.7M	85.6M
Total Common Equity	4.92B	2.65B	2.01B	2.67B	2.74B
Minority Interest	3.52B	3.25B	3.17B	2.32B	1.87B
Total Equity	8.72B	6.2B	5.93B	4.98B	4.61B
Total Liabilities And Equity	18.82B	15.88B	15.21B	19.56B	20.67B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	233M	229M	229M	227M	223M
ECS Total Common Shares Outstanding	233M	228M	228M	226M	223M
Book Value / Share	21.13	11.64	8.82	11.79	12.31
Tangible Book Value	3.14B	1.27B	917M	-68.9M	344M
Tangible Book Value Per Share	13.49	5.58	4.02	-0.3	1.54
Total Debt	7.88B	7.81B	6.64B	11.58B	13.03B
Net Debt	7.55B	7.57B	6.48B	11.36B	12.89B
Debt Equivalent Oper. Leases	422M	354M	354M	611M	880M
Minority Interest, Total (Incl. Fin. Div)	3.52B	3.25B	3.17B	2.32B	1.87B
Equity Method Investments, Total	739M	714M	586M	131M	146M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	5M	-	-	-	-
Inventories - Finished Goods, Total	156M	-	-	-	-
Land - (BS)	160M	161M	161M	163M	185M
Machinery, Total	11.27B	11.78B	11.99B	13.32B	14.15B
Full Time Employees	2.68K	2.37K	2.43K	2.85K	3.18K
Accumulated Allowance for Doubtful Accounts (Supple)	-	100K	100K	2.2M	2.5M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-209M	-1.55B	71.2M	1.2B	1.35B
Depreciation & Amortization - CF	788M	721M	740M	854M	946M
Amortization of Goodwill and Intangible Assets - (CF)	176M	148M	135M	247M	390M
Depreciation & Amortization, Total	964M	869M	875M	1.1B	1.34B
Amortization of Deferred Charges, Total - (CF)	1.4M	6.8M	4.3M	49.6M	2.1M
(Gain) Loss From Sale Of Asset	71.1M	58.4M	2M	-9.6M	-5.3M
(Gain) Loss on Sale of Investments - (CF)	-69.3M	-	-	-436M	-
Asset Writedown & Restructuring Costs	256M	2.5B	463M	9.8M	6.9M
(Income) Loss On Equity Investments - (CF)	10.6M	14.2M	108M	3.1M	4.1M
Stock-Based Compensation (CF)	60.3M	66.2M	59.2M	57.5M	62.4M
Other Operating Activities, Total	294M	-274M	515M	774M	321M
Change In Accounts Receivable	-24.7M	-25.6M	-392M	220M	-20.6M
Change In Inventories	-45M	-27.7M	40.6M	-236M	36M
Change In Accounts Payable	80.8M	106M	552M	-383M	68.2M
Change in Other Net Operating Assets	-	6.9M	5.9M	35.5M	55.6M
Cash from Operations	1.39B	1.74B	2.3B	2.38B	3.21B
Capital Expenditure	-2.88B	-952M	-505M	-1.33B	-2.39B
Sale of Property, Plant, and Equipment	-	-	-	23M	4.7M
Cash Acquisitions	-	-	-	-3.71B	-
Divestitures	14.8M	199M	12.2M	-	-
Investment in Marketable and Equity Securities, Total	-193M	10.5M	19.6M	872M	-19.1M
Other Investing Activities, Total	-15.9M	4.3M	100K	-1.6M	-1M
Cash from Investing	-3.07B	-738M	-473M	-4.15B	-2.4B
Short Term Debt Issued, Total	944M	576M	630M	31.73B	59.15B
Long-Term Debt Issued, Total	5.6B	3.2B	1.62B	10.09B	3.73B
Total Debt Issued	6.54B	3.77B	2.25B	41.82B	62.87B
Short Term Debt Repaid, Total	-854M	-596M	-830M	-30.08B	-60.2B
Long-Term Debt Repaid, Total	-4.56B	-3.2B	-2.6B	-7.05B	-1.33B
Total Debt Repaid	-5.42B	-3.79B	-3.43B	-37.12B	-61.54B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-13.9M	-97.4M	-53.2M	-261M	-430M
Issuance of Preferred Stock	-	-	-	-	-
Repurchase of Preferred Stock	-	-171M	-	-965M	-
Common Dividends Paid	-	-	-	-	-427M
Common & Preferred Stock Dividends Paid	-954M	-384M	-188M	-380M	-
Common & Preferred Stock Dividends Paid	-954M	-384M	-188M	-380M	-427M
Other Financing Activities, Total	1.62B	-419M	-494M	-1.26B	-1.37B
Cash from Financing	1.78B	-1.09B	-1.91B	1.83B	-888M
Net Change in Cash	99M	-88.3M	-84.3M	60.5M	-77.3M
Supplemental Items
Maintenance CAPEX	135M	104M	132M	168M	223M
Cash Interest Paid	288M	374M	356M	401M	619M
Cash Income Tax Paid (Refund)	-1.9M	43.7M	1.3M	1.6M	8.5M
Levered Free Cash Flow	-2.17B	559M	1.35B	243M	211M
Unlevered Free Cash Flow	-1.96B	797M	1.59B	472M	639M
Change In Net Working Capital	429M	-25.9M	-331M	432M	14.9M
Net Debt Issued / Repaid	1.13B	-23M	-1.18B	4.7B	1.34B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.82	4.54	5.35	6.22	8.16
Return on Total Capital	2.1	5.14	6.25	7.42	9.6
Return On Equity %	0.5	-17.75	6.96	28.07	32.93
Return on Common Equity	-6.07	-44.48	-0.69	38.35	30.64
Margin Analysis
Gross Profit Margin %	29.44	38.2	19	19.34	33.52
SG&A Margin	12.38	12.44	6.02	5.84	8.88
EBITDA Margin %	17.11	25.77	13	13.52	24.67
EBITA Margin %	8.03	17.04	8.64	9.44	18.78
EBIT Margin %	5.99	15.25	7.84	8.26	16.35
Income From Continuing Operations Margin %	0.48	-16.04	2.49	7.32	9.83
Net Income Margin %	-2.41	-18.81	0.42	5.71	8.38
Net Avail. For Common Margin %	-3.85	-20.4	-0.09	4.28	5.16
Normalized Net Income Margin