Company Valuation: Targa Resources Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 11,961 16,639 19,370 38,924 39,605 63,049 - -
Change - 39.1% 16.42% 100.95% 1.75% 59.2% - -
Enterprise Value (EV) 1 18,400 27,956 32,182 52,942 56,871 83,019 84,215 83,538
Change - 51.93% 15.12% 64.51% 7.42% 45.98% 1.44% -0.8%
P/E -746x 18.9x 23.7x 31.1x 21.7x 26.2x 23.9x 20x
PBR 5.72x 5.9x 7.06x 15x 12.9x 15.5x 12.2x 9.53x
PEG - -0x -4.18x 0.5x 0.5x 0.8x 2.45x 1x
Capitalization / Revenue 0.71x 0.79x 1.21x 2.38x 2.33x 3.33x 2.75x 2.49x
EV / Revenue 1.09x 1.34x 2x 3.23x 3.34x 4.38x 3.67x 3.3x
EV / EBITDA 8.97x 9.64x 9.12x 12.8x 11.5x 13.9x 13x 11.5x
EV / EBIT 21.3x 16.2x 12.3x 19.6x 17.1x 20.4x 19.2x 16.5x
EV / FCF 10.2x 26.7x 82x 378x 106x 291x 49.4x 29.8x
FCF Yield 9.77% 3.74% 1.22% 0.26% 0.95% 0.34% 2.02% 3.35%
Dividend per Share 2 0.75 1.4 2 3 4 4.988 5.915 6.917
Rate of return 1.44% 1.9% 2.3% 1.68% 2.17% 1.7% 2.01% 2.35%
EPS 2 -0.07 3.88 3.66 5.74 8.49 11.23 12.33 14.71
Distribution rate -1,071% 36.1% 54.6% 52.3% 47.1% 44.4% 48% 47%
Net sales 1 16,950 20,930 16,060 16,382 17,028 18,934 22,964 25,327
EBITDA 1 2,052 2,901 3,530 4,142 4,957 5,968 6,466 7,247
EBIT 1 864.8 1,729 2,626 2,695 3,331 4,065 4,379 5,068
Net income 1 -16.1 896.8 835.8 1,279 1,852 2,405 2,588 3,148
Net Debt 1 6,439 11,317 12,812 14,017 17,266 19,970 21,166 20,489
Reference price 2 52.24 73.50 86.87 178.50 184.50 294.03 294.03 294.03
Nbr of stocks (in thousands) 228,972 226,375 222,976 218,063 214,659 214,431 - -
Announcement Date 2/24/22 2/22/23 2/15/24 2/20/25 2/19/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.54x4.3x13.66x1.74% 61.52B
23.85x3.21x12.95x5.65% 109B
28.63x9.8x14x2.97% 86.94B
12.76x1.85x10.59x5.86% 82.64B
20.24x5.54x11.19x3.85% 68.9B
21.34x9.35x12.59x4.1% 64.43B
13.64x6.43x11.61x7.79% 59.17B
15.75x2.14x10.77x4.7% 57.8B
14.49x4.14x11.64x4.72% 32.89B
21.5x6.39x12.39x4.39% 27.97B
Average 19.78x 5.32x 12.14x 4.58% 65.09B
Weighted average by Cap. 20.39x 5.26x 12.23x 4.61%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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