ET vs TRGP
Energy Transfer LP and Targa Resources Corp., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
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 | 6.7% | 11.5% |
| Return on equity | 9.3% | 67.9% |
| Diluted EPS | · | $8.49 |
| Dividend / share | · | $3.75 |
| Payout ratio | · | · |
| Free cash flow | $3.8B | $584.1M |
| Equity | · | $3.1B |
| Net debt / equity | 1.37× | 5.63× |
| Current ratio | 1.22× | 0.67× |
| Revenue CAGR 5y | 17.0% | 15.6% |
| Profit CAGR 5y | · | · |
ET bills 5.0× the revenue of TRGP, and TRGP keeps more of each dollar of revenue as profit (11.5% against 6.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
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 | $20.9B |
| FY2021 | $67.4B | $16.9B |
| FY2020 | $39.0B | $8.3B |
| FY2019 | $54.2B | $8.7B |
| FY2018 | $54.1B | $10.5B |
| FY2017 | $40.5B | $8.8B |
| FY2016 | $31.8B | $6.7B |
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 |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$68,507,700,000 | ET |
| FY2024 | +$66,289,500,000 | ET |
| FY2023 | +$62,525,700,000 | ET |
| FY2022 | +$68,946,200,000 | ET |
| FY2021 | +$50,467,200,000 | ET |
| FY2020 | +$30,693,700,000 | ET |
| FY2019 | +$45,541,900,000 | ET |
| FY2018 | +$43,603,000,000 | ET |
| FY2017 | +$31,708,100,000 | ET |
| FY2016 | +$25,101,100,000 | ET |
| FY2015 | +$30,630,600,000 | ET |
ET has reported the higher revenue in every one of these 11 fiscal years. The gap has widened since the earliest year compared.
11 of 18 comparable fiscal years — a year missing data on either side is not counted.
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −4.8 pp | TRGP |
| FY2024 | −1.5 pp | TRGP |
| FY2023 | −3.1 pp | TRGP |
| FY2021 | +7.4 pp | ET |
| FY2020 | +16.4 pp | ET |
| FY2019 | +8.4 pp | ET |
| FY2018 | +5.7 pp | ET |
| FY2017 | +4.7 pp | ET |
| FY2016 | +2.4 pp | ET |
| FY2015 | +5.7 pp | ET |
The higher net margin has changed hands between ET and TRGP over this period.
10 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TRGP's net margin has been more volatile than ET's over the 10 comparable fiscal years — 7.6 percentage points of standard deviation against 3.2.
10 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between ET and TRGP over these 10 fiscal years — ET led in 7 and TRGP in 3.
10 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TRGP's return on equity has been more volatile than ET's over the 16 comparable fiscal years — 30.3 percentage points of standard deviation against 4.4.
16 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between ET and TRGP over these 16 fiscal years — ET led in 7 and TRGP in 9.
16 of 18 comparable fiscal years — a year missing data on either side is not counted.