Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
Is the operating margin high or low?
The operating margin of 23.13% is 57% above its 5-year average of 14.69%, near the high end of its 5-year range (-1.68%–27.80%).
3.03% above its 12-month average of 22.45%.
Reported quarterly operating margin; no daily interpolation. Q2 FY2026 (2026-06-30): 27.80%.
OPERATING MARGIN
23.13%
OPERATING MARGIN AVG TTM
22.45%
OPERATING MARGIN AVG 3Y
18.43%
OPERATING MARGIN AVG 5Y
14.69%
OPERATING MARGIN AVG 10Y
10.85%
OPERATING MARGIN AVG 15Y
9.00%
OPERATING MARGIN AVG 20Y
N/A
CURRENT VS TTM AVG
+3.03%
CURRENT VS 3Y AVG
+25.50%
CURRENT VS 5Y AVG
+57.49%
CURRENT VS 10Y AVG
+113.23%
CURRENT VS 15Y AVG
+157.12%
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · ENERGY
18.52%
median of 50 covered companies
CURRENT VS SECTOR MEDIAN
+24.93%
vs the sector median at left
Targa Resources Corp.
Market Cap
$60.56B
Operating Margin
23.13%
TTM Avg
22.45%
3Y Avg
18.43%
5Y Avg
14.69%
Market Cap
$62.23B
Operating Margin
46.09%
TTM Avg
43.13%
3Y Avg
42.95%
5Y Avg
43.43%
Market Cap
$56.84B
Operating Margin
12.92%
TTM Avg
12.49%
3Y Avg
11.06%
5Y Avg
8.98%
Market Cap
$56.01B
Operating Margin
23.01%
TTM Avg
19.63%
3Y Avg
24.70%
5Y Avg
17.59%
Market Cap
$51.90B
Operating Margin
27.68%
TTM Avg
36.30%
3Y Avg
48.86%
5Y Avg
10.01%
Market Cap
$51.62B
Operating Margin
23.86%
TTM Avg
24.34%
3Y Avg
30.59%
5Y Avg
24.82%
Market Cap
$69.63B
Operating Margin
29.04%
TTM Avg
28.73%
3Y Avg
26.70%
5Y Avg
27.54%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Targa Resources Corp. (TRGP) | $60.56B | 23.13% | 22.45% | 18.43% | 14.69% |
| MPLX Lp (MPLX)vs › | $60.03B | 42.91% | 44.40% | 45.59% | 37.76% |
| TC Energy Corporation (TRP)vs › | $62.23B | 46.09% | 43.13% | 42.95% | 43.43% |
| Baker Hughes Company (BKR)vs › | $56.84B | 12.92% | 12.49% | 11.06% | 8.98% |
| ONEOK, Inc. (OKE)vs › | $56.77B | 18.48% | 21.96% | 20.06% | 19.87% |
| Occidental Petroleum Corporation (OXY)vs › | $56.01B | 23.01% | 19.63% | 24.70% | 17.59% |
| Diamondback Energy, Inc. (FANG)vs › | $51.90B | 27.68% | 36.30% | 48.86% | 10.01% |
| Devon Energy Corporation (DVN)vs › | $51.62B | 23.86% | 24.34% | 30.59% | 24.82% |
| Kinder Morgan, Inc. (KMI)vs › | $69.63B | 29.04% | 28.73% | 26.70% | 27.54% |
| Energy Transfer LP (ET)vs › | $70.20B | 10.60% | 11.23% | 10.41% | 10.39% |
Gross Margin
26.5%
Operating Margin
23.1%
Operating Margin = Operating Income / Revenue
Operating margin is the percentage of revenue remaining after operating expenses, reflecting operating efficiency.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | OPERATING MARGIN |
|---|---|
| 2026-06-30 | 27.80% |
| 2026-03-31 | 20.68% |
| 2025-12-31 | 22.62% |
| 2025-09-30 | 21.06% |
| 2025-06-30 | 20.08% |
| 2025-03-31 | 17.23% |
| 2024-12-31 | 15.90% |
| 2024-09-30 | 19.66% |
| 2024-06-30 | 18.89% |
| 2024-03-31 | 14.01% |
| 2023-12-31 | 14.82% |
| 2023-09-30 | 12.69% |
| 2023-06-30 | 14.15% |
| 2023-03-31 | 14.26% |
| 2022-12-31 | 12.11% |
| 2022-09-30 | 8.02% |
| 2022-06-30 | 10.09% |
| 2022-03-31 | 5.96% |
| 2021-12-31 | -1.68% |
| 2021-09-30 | 9.92% |
| 2021-06-30 | 10.13% |
| 2021-03-31 | 12.80% |
| 2020-12-31 | 22.49% |
| 2020-09-30 | 12.85% |
| 2020-06-30 | 9.95% |
| 2020-03-31 | 10.91% |
| 2019-12-31 | 10.98% |
| 2019-09-30 | 6.20% |
| 2019-06-30 | 3.65% |
| 2019-03-31 | 2.16% |
| 2018-12-31 | 4.37% |
| 2018-09-30 | 5.41% |
| 2018-06-30 | 4.84% |
| 2018-03-31 | 4.96% |
| 2017-12-31 | 5.75% |
| 2017-09-30 | 2.73% |
| 2017-06-30 | 1.71% |
| 2017-03-31 | 3.47% |
| 2016-12-31 | 4.24% |
| 2016-09-30 | 2.66% |
| 2016-06-30 | 4.19% |
| 2016-03-31 | 2.46% |
| 2015-12-31 | -12.56% |
| 2015-09-30 | 7.06% |
| 2015-06-30 | 6.61% |
| 2015-03-31 | 8.17% |
| 2014-12-31 | 8.02% |
| 2014-09-30 | 7.37% |
| 2014-06-30 | 7.29% |
| 2014-03-31 | 6.73% |
| 2013-12-31 | 6.71% |
| 2013-09-30 | 5.68% |
| 2013-06-30 | 4.22% |
| 2013-03-31 | 5.29% |
| 2012-12-31 | 5.66% |
| 2012-09-30 | 4.23% |
| 2012-06-30 | 6.31% |
| 2012-03-31 | 6.54% |
| 2011-12-31 | 5.60% |
| 2011-09-30 | 4.13% |
| 2011-06-30 | 5.70% |
| 2011-03-31 | 4.54% |
| 2010-12-31 | 3.25% |
| 2010-09-30 | 3.55% |
| 2010-06-30 | 3.90% |
| 2010-03-31 | 3.69% |
| 2009-12-31 | 6.69% |
| 2009-09-30 | 4.44% |
