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 58,499 - -
Change - 39.1% 16.42% 100.95% 1.75% 47.71% - -
Enterprise Value (EV) 1 18,400 27,956 32,182 52,942 56,871 78,402 79,181 78,555
Change - 51.93% 15.12% 64.51% 7.42% 37.86% 0.99% -0.79%
P/E Ratio -746x 18.9x 23.7x 31.1x 21.7x 25.5x 22.4x 19.2x
PBR 5.72x 5.9x 7.06x 15x 12.9x 14.9x 11.6x 9.09x
PEG - -0x -4.18x 0.5x 0.5x 1x 1.7x 1.1x
Capitalization / Revenue 0.71x 0.79x 1.21x 2.38x 2.33x 2.91x 2.57x 2.4x
EV / Revenue 1.09x 1.34x 2x 3.23x 3.34x 3.9x 3.48x 3.22x
EV / EBITDA 8.97x 9.64x 9.12x 12.8x 11.5x 13.4x 12.5x 11.3x
EV / EBIT 21.3x 16.2x 12.3x 19.6x 17.1x 20.1x 18.4x 16.1x
EV / FCF 10.2x 26.7x 82x 378x 106x -516x 58.1x 26.2x
FCF Yield 9.77% 3.74% 1.22% 0.26% 0.95% -0.19% 1.72% 3.81%
Dividend per Share 2 0.75 1.4 2 3 4 4.928 5.82 6.892
Rate of return 1.44% 1.9% 2.3% 1.68% 2.17% 1.81% 2.14% 2.53%
EPS 2 -0.07 3.88 3.66 5.74 8.49 10.7 12.14 14.2
Distribution rate -1,071% 36.1% 54.6% 52.3% 47.1% 46.1% 47.9% 48.5%
Net sales 1 16,950 20,930 16,060 16,382 17,028 20,083 22,761 24,371
EBITDA 1 2,052 2,901 3,530 4,142 4,957 5,835 6,345 6,965
EBIT 1 864.8 1,729 2,626 2,695 3,331 3,895 4,299 4,877
Net income 1 -16.1 896.8 835.8 1,279 1,852 2,289 2,540 2,994
Net Debt 1 6,439 11,317 12,812 14,017 17,266 19,903 20,682 20,056
Reference price 2 52.24 73.50 86.87 178.50 184.50 272.54 272.54 272.54
Nbr of stocks (in thousands) 2,28,972 2,26,375 2,22,976 2,18,063 2,14,659 2,14,644 - -
Announcement Date 24/02/22 22/02/23 15/02/24 20/02/25 19/02/26 - - -
1USD in Million2USD
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.48x3.9x13.44x1.81% 5.85TCr
26.59x4.26x13.93x4.93% 12TCr
30.87x10x14.58x2.92% 8.84TCr
13.02x2.08x10.68x5.97% 8.19TCr
25.03x10.16x13.77x3.65% 7.19TCr
21.54x5.72x11.57x3.74% 7.08TCr
13.07x6.33x11.24x8.03% 5.72TCr
15.86x2.33x10.82x4.75% 5.71TCr
17.22x3.93x11.81x4.82% 3.2TCr
22.95x6.3x12.46x4.27% 2.85TCr
Average 21.16x 5.50x 12.43x 4.49% 6.7TCr
Weighted average by Cap. 22.02x 5.59x 12.65x 4.47%

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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