Targa Resources Corp. (TRGP) FCF Payout Ratio: 348.89%
Is Targa Resources Corp.’s FCF payout ratio high or low?
Targa Resources Corp.'s FCF payout ratio of 348.89% is 453% above its 5-year average of 63.08%, near the high end of its 5-year range (10.43%–348.89%).
203.26% above its 12-month average of 115.05%.
TRGP FCF Payout Ratio Chart
TRGP Average FCF Payout Ratio Chart
TRGP Current vs Average FCF Payout Ratio Chart
TRGP FCF Payout Ratio Metrics
FCF PAYOUT RATIO
348.89%
FCF PAYOUT RATIO AVG TTM
115.05%
FCF PAYOUT RATIO AVG 3Y
79.52%
FCF PAYOUT RATIO AVG 5Y
63.08%
FCF PAYOUT RATIO AVG 10Y
83.29%
FCF PAYOUT RATIO AVG 15Y
139.44%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+203.26%
CURRENT VS 3Y AVG
+338.72%
CURRENT VS 5Y AVG
+453.13%
CURRENT VS 10Y AVG
+318.89%
CURRENT VS 15Y AVG
+150.20%
CURRENT VS 20Y AVG
N/A
Payout Ratio Comparison
FCF Payout Ratio
348.9%
Earnings Payout Ratio
49.8%
Dividend Yield
1.61%
FCF Yield
0.46%
Annual FCF Payout Ratio History
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $584.10M | $818.30M | 140.1% |
| 2024 | $683.90M | $615.50M | 90.0% |
| 2023 | $826.20M | $427.30M | 51.7% |
| 2022 | $1.05B | $379.70M | 36.3% |
| 2021 | $1.80B | $187.50M | 10.4% |
| 2020 | $792.90M | $395.90M | 49.9% |
| 2019 | ($1.49B) | $964.80M | N/A (Loss) |
| 2018 | ($1.97B) | $908.30M | N/A (Loss) |
| 2017 | ($358.00M) | $843.20M | N/A (Loss) |
| 2016 | $275.30M | $565.90M | 205.6% |
| 2015 | $217.50M | $179.00M | 82.3% |
| 2014 | ($0.40M) | $113.00M | N/A (Loss) |
| 2013 | ($630.90M) | $362.20M | N/A (Loss) |
| 2012 | ($154.50M) | $273.70M | N/A (Loss) |
| 2011 | $47.40M | $38.20M | 80.6% |
| 2010 | $69.20M | $448.10M | 647.5% |
| 2009 | $236.40M | $0 | 0.0% |
| 2008 | $258.40M | $0 | 0.0% |
Formula: FCF Payout Ratio = Dividends Paid / Free Cash Flow × 100
FCF payout and earnings payout:
- FCF represents operating cash flow after capital expenditures
- FCF payout compares dividends paid with free cash flow
- FCF payout above 100% means dividends paid exceeded free cash flow for the period
- Earnings payout compares dividends paid with net income
Reading the series: Use the chart and table to compare dividend payments with cash generation over time.
Targa Resources Corp. FCF Payout Ratio Formula & Definition
FCF Payout Ratio measures what percentage of free cash flow is paid out as dividends. Unlike earnings-based payout, it compares dividends with cash generated after capital expenditures.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Targa Resources Corp. FCF Payout Ratio FAQ
- What is the FCF payout ratio for Targa Resources Corp. (TRGP)?
- The FCF payout ratio for TRGP stock is 348.89%.
- Is Targa Resources Corp.'s FCF payout ratio high or low?
- Targa Resources Corp.'s FCF payout ratio of 348.89% is 453% above its 5-year average of 63.08%, near the high end of its 5-year range (10.43%–348.89%).
- What is the TTM average FCF payout ratio for Targa Resources Corp. (TRGP)?
- The TTM average FCF payout ratio for TRGP stock is 115.05%.
- What is the 3Y average FCF payout ratio for Targa Resources Corp. (TRGP)?
- The 3Y average FCF payout ratio for TRGP stock is 79.52%.
- What is the 5Y average FCF payout ratio for Targa Resources Corp. (TRGP)?
- The 5Y average FCF payout ratio for TRGP stock is 63.08%.
- What is the 10Y average FCF payout ratio for Targa Resources Corp. (TRGP)?
- The 10Y average FCF payout ratio for TRGP stock is 83.29%.
- What is the 15Y average FCF payout ratio for Targa Resources Corp. (TRGP)?
- The 15Y average FCF payout ratio for TRGP stock is 139.44%.
Targa Resources Corp. FCF Payout Ratio History
| DATE | FCF PAYOUT RATIO |
|---|---|
| 2025-12-31 | 140.10% |
| 2024-12-31 | 90.00% |
| 2023-12-31 | 51.72% |
| 2022-12-31 | 36.28% |
| 2021-12-31 | 10.43% |
| 2020-12-31 | 49.93% |
| 2016-12-31 | 205.56% |
| 2015-12-31 | 82.30% |
| 2011-12-31 | 80.59% |
| 2010-12-31 | 647.54% |
About Targa Resources Corp.
Targa Resources Corp., alongside its subsidiary Targa Resources Partners LP, is a significant entity in the North American midstream energy sector, focusing on the ownership, operation, acquisition, and development of crucial energy infrastructure assets. Its business is structured into two main divisions: "Gathering and Processing" and "Logistics and Transportation." Within these segments, the company undertakes a broad range of activities, including the collection, compression, treatment, processing, transport, and sale of natural gas. It also manages the storage, fractionation, treatment, transportation, and distribution of natural gas liquids (NGLs) and their associated products, providing services even to liquefied petroleum gas (LPG) exporters. Furthermore, Targa handles the gathering, storage, terminaling, purchasing, and selling of crude oil. Beyond these core operations, the company is involved in the procurement and resale of NGL products, wholesale propane distribution, and providing related logistics support to a diverse clientele, including multi-state retailers, independent businesses, and end-users. It also offers NGL balancing services and transportation solutions for refineries and petrochemical companies situated in the Gulf Coast region, while actively purchasing, marketing, and reselling natural gas. The company's extensive asset base features approximately 28,400 miles of natural gas pipelines, including 42 owned and managed processing plants, and it operates 34 storage wells with a substantial gross capacity of about 76 million barrels. As of December 31, 2021, its transportation fleet comprised approximately 648 leased and managed railcars, 119 transport tractors, and two company-owned pressurized NGL barges. Targa Resources Corp. was established in 2005 and is headquartered in Houston, Texas.
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- CEO
- Matthew J. Meloy