Targa Resources Corp. TRGP
Revenue Intelligence Report • 48 quarters of SEC filing data • Updated 2026-03-15
Targa Resources Corp. has a forecasted full-year revenue of $17B, a +1.9% year-over-year change, based on 48 quarters of SEC filing data. Key revenue drivers include SG&A ($13.73 per $1). The ARDL model has 101.2% MAPE.
Investment Thesis
At 101.2% MAPE, the model captures Targa Resources Corp.'s broad revenue trajectory, though quarterly variability suggests sensitivity to external factors. Each $1 of SG&A spending generates $13.73 in revenue, reflecting strong commercial efficiency.
Next FY Revenue
$17.4B
+1.9% YoY
SG&A Multiplier
$13.73 per $1
Model Accuracy
101.2% MAPE
Holdout validation: The model predicted $4.3B vs the actual $4.1B — an error of 5.3%.
Note:
Targa Resources Corp. does not report R&D expenses separately. This analysis uses SG&A spending only.
Revenue Forecast
Quarterly Detail
| Quarter | Model Forecast | Actual | 95% Range | YoY Growth | Status |
|---|---|---|---|---|---|
| Q4 2025 | $4.3B | $4.1B | $3.1B – $5.4B | -3.1% | ✓ In range |
| Q2 2026 | $4.3B | $2.6B – $5.9B | -6.7% | ||
| Q3 2026 | $4.3B | $2.3B – $6.3B | +0.8% | ||
| Q4 2026 | $4.4B | $2.1B – $6.7B | +5.4% | ||
| Q1 2027 | $4.4B | $1.9B – $7.0B | +9.2% |
How Spending Drives Revenue
Reading this chart:
Each line shows the cumulative revenue generated per $1 spent over subsequent quarters. The effect builds over 4-5 quarters as investments mature.
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