ET vs TRGP
Energy Transfer LP and Targa Resources Corp., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | ET | TRGP |
|---|---|---|
| Revenue | $85.5B | $17.0B |
| Net income | $4.4B | $1.9B |
| Gross margin | 25.8% | 38.3% |
| Net margin | 5.2% | 11.3% |
| Return on equity | — | 67.9% |
| Diluted EPS | — | $8.49 |
| Dividend / share | — | $3.75 |
| Payout ratio | — | 307.0% |
| Free cash flow | $3.8B | $584.1M |
| Equity | — | $3.1B |
| Net debt / equity | — | 5.63× |
| Current ratio | 1.22× | 0.67× |
| Revenue CAGR 5y | 17.0% | 19.9% |
| Profit CAGR 5y | — | — |
ET bills 5.0× the revenue of TRGP, and TRGP keeps more of each dollar of revenue as profit (11.3% against 5.2%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
10 years side by side
| Fiscal year | ET | TRGP |
|---|---|---|
| FY2025 | $85.5B | $17.0B |
| FY2024 | $82.7B | $16.4B |
| FY2023 | $78.6B | $16.1B |
| FY2022 | $89.9B | $19.8B |
| FY2021 | $67.4B | $16.1B |
| FY2020 | $39.0B | $6.9B |
| FY2019 | $54.2B | $7.4B |
| FY2018 | $54.1B | $9.4B |
| FY2017 | $40.5B | $7.8B |
| FY2016 | $31.8B | $6.7B |
Net income by year
Bottom line
| Fiscal year | ET | TRGP |
|---|---|---|
| FY2025 | $4.4B | $1.9B |
| FY2024 | $4.8B | $1.3B |
| FY2023 | $3.9B | $1.3B |
| FY2022 | $4.8B | $1.2B |
| FY2021 | $5.5B | $71.2M |
| FY2020 | $-648.0M | $-1.6B |
| FY2019 | $3.5B | $-209.2M |
| FY2018 | $1.7B | $1.6M |
| FY2017 | $954.0M | $54.0M |
| FY2016 | $995.0M | $-187.3M |
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