Targa ResourcesTRGP +0.12%69 EV-to-FCF is 297.20 as of Jul. 10, 2026, which is 1125% above its 10-year median of 24.26. GuruFocus rates TRGP with a GF Score™ of 69/100 and a GF Value™ of $169.99 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 575 Oil & Gas companies, Targa Resources ranks worse than 97.22% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Targa Resources's Enterprise Value is $77,837 Mil.
Targa Resources's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $262 Mil. Therefore, Targa Resources's EV-to-FCF for today is 297.20.
The historical rank and industry rank for Targa Resources's EV-to-FCF or its related term are showing as below:
TRGP'
s EV-to-FCF Range Over the Past 10 Years
Min: -94.2 Med: 24.26 Max: 300.89
Current: 297.2
During the past 13 years, the highest EV-to-FCF of Targa Resources was 300.89. The lowest was -94.20. And the median was 24.26.
TRGP's EV-to-FCF is ranked worse than 97.22% of 575
companies
in the Oil & Gas industry
Industry Median: 15.52
vs TRGP: 297.20
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Targa Resources's PE Ratio (TTM) for today is calculated as:
Targa Resources's share price for today is $273.35.
Targa Resources's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $9.819.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Targa Resources EV-to-FCF Related Terms
Targa Resources EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Targa Resources's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas Midstream subindustry, Targa Resources's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Targa Resources EV-to-FCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Targa Resources's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Targa Resources's EV-to-FCF falls into.
Targa Resources's current Enterprise Value is $77,837 Mil.
Targa Resources's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $262 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Targa Resources (TRGP) has a EV-to-FCF of 297.20 as of Jul. 10, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Targa Resources and its competitors. This is 1125% above median its historical median of 24.26. According to the industry distribution chart, Targa Resources ranks #559 out of 575 companies in the Oil & Gas industry, placing it in the top 97.2%.
Is Targa Resources' EV-to-FCF too high?
Targa Resources' current EV-to-FCF of 297.20 is 1125% above median its 10-year median of 24.26. The Oil & Gas industry median EV-to-FCF is 15.52. Targa Resources' value of 297.20 is 1814.9% above this industry median. Based on the distribution chart, Targa Resources ranks #559 out of 575 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Targa Resources has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Targa Resources' EV-to-FCF compare to MPLX and OKE?
According to the Oil & Gas industry distribution chart, Targa Resources ranks #559 out of 575 companies for EV-to-FCF. This places Targa Resources in the lower half of its industry. The industry median EV-to-FCF is 15.52. Targa Resources' value of 297.20 is 1814.9% above this benchmark. While the company's 10-year median is 24.26 vs. the industry median of 15.52, Targa Resources has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for an Oil & Gas company?
The median EV-to-FCF among Oil & Gas companies is 15.52, based on 575 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Targa Resources's current EV-to-FCF of 297.20 is 1814.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Targa Resources and its competitors. For the Oil & Gas industry, the median EV-to-FCF is 15.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Targa Resources's current EV-to-FCF is 297.20, which is 1125% above median its own 10-year median of 24.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Targa Resources stock overvalued right now?
Based on GuruFocus' analysis, Targa Resources (TRGP) is currently considered Significantly Overvalued. The stock's GF Value™ is $169.99, compared to a current price of $273.35 — trading 60.8% above its estimated fair value. The current EV-to-FCF is 297.20, which is 1125% above median its 10-year median of 24.26 and 1814.9% above the Oil & Gas industry median of 15.52. Targa Resources' overall GF Score™ is 69/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Targa Resources (TRGP), the current EV-to-FCF is 297.20 as of Jul. 10, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Targa Resources (TRGP) Overvalued in 2026?
Based on GuruFocus' analysis, Targa Resources stock appears to be overvalued.
The current stock price of $273.35 is trading 60.8% above its estimated GF Value™ of $169.99.
GuruFocus considers Targa Resources to be Significantly Overvalued.
Key valuation signals for TRGP:
EV-to-FCF: 297.20 (1125% above median its 10-year median of 24.26)
GF Value™: $169.99 vs. price of $273.35 (60.8% above fair value)
Industry Position: 1814.9% above the Oil & Gas median (#559 of 575)
No single metric tells the full story. See the TRGP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Targa Resources Corp is a midstream firm that mainly operates gathering and processing assets with substantial positions in the Permian, Stack, Scoop, and Bakken plays. It has fractionation capacity at Mont Belvieu and operates a liquefied petroleum gas export terminal. The Grand Prix natural gas liquids pipeline is another important asset. It has two operating segments: Gathering and Processing, and, Logistics and Transportation (also referred to as the Downstream Business).
69GF Score
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