Enterprise Products vs Targa Resources
Enterprise Products reported revenue of $52.6 billion in fiscal 2025, 3.1 times Targa Resources' $17.0 billion in fiscal 2025. Enterprise Products' revenue fell 6.4% in its latest year, and Targa Resources' grew 4.0%. Enterprise Products had an operating margin of 13.8%, against 19.6% at Targa Resources. Free cash flow was $3.0 billion at Enterprise Products and $584 million at Targa Resources.
Side by side
| Enterprise Products | Targa Resources | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $52.6B | $17.0B |
| Revenue growth | −6.4% | 4.0% |
| Revenue growth a year, last 5 years | 14.1% | 15.6% |
| Gross margin | 26.7% | 38.3% |
| Operating margin | 13.8% | 19.6% |
| Net margin | 11.1% | 11.3% |
| Free cash flow | $3.0B | $584M |
| Free cash flow margin | 5.6% | 3.4% |
| Return on capital | 11.6% | 13.3% |
| Net debt to EBITDA | 3.5x | 3.6x |
| Dividends and buybacks | $300M | $642M |
| Change in diluted share count | −0.2% | −2.0% |
| Last close | $37.00 | $304.68 |
| P/E at the last close | — | 29.1× |
| Insider trades, last 12 months | bought $581,421, sold $0 | sold $34.3 million |
| Piotroski F-score | 6 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Enterprise ProductsTarga Resources
Operating margin
Percent of revenue
Enterprise ProductsTarga Resources
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Enterprise ProductsTarga Resources
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Enterprise Products and Targa Resources pages.