Targa Resources Corp. logo TRGP - Targa Resources Corp.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
1
BUY 26
HOLD 7
SELL 0
STRONG
SELL
0
| PRICE TARGET: $266.00 DETAILS
HIGH: $331.00
LOW: $228.00
MEDIAN: $268.00
CONSENSUS: $266.00
DOWNSIDE: 3.88%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1 2011 Q4 2011 Q3 2011 Q2 2011 Q1 2010 Q4 2010 Q3 2010 Q2 2010 Q1 2009 Q4 2009 Q3
Revenue
Revenue 4,094.7 4,055.5 4,201.7 4,026.2 4,852.8 4,405.3 3,885.9 3,618.6 4,562.4 4,231.8 3,881.4 3,208.7 4,297.3 4,554.8 5,360.1 6,232.5 4,959.1 5,441.6 4,543.4 3,526.1 3,767.4 2,922.3 2,005.9 1,455.2 1,889 2,472.7 1,964.3 1,953.1 2,287.6 2,596.3 3,011.4 2,454.4 2,493.1 2,747.4 2,135.4 1,862.3 2,119.5 2,012.6 1,644.5 1,583.6 1,442.4 1,647.4 1,632.1 1,699.4 1,679.7 2,032.9 2,288.3 2,061.9 2,352.9 2,159.8 1,556.8 1,441.6 1,397.8 1,527.3 1,393.5 1,319.1 1,645.8 1,934 1,713.6 1,727.7 1,618.1 1,527.2 1,220 1,240.1 1,483.6 1,391 1,125.6
Cost of Revenue 2,820.5 2,307.6 3,223.4 3,133.3 3,929 3,301.1 3,021.4 2,836.7 3,558.5 3,509.4 3,299 2,673.6 3,602 3,654.1 4,593.5 5,533 4,413.2 4,789.4 4,026.9 3,105.7 3,223.6 2,190.8 1,688.8 1,248.5 1,622 2,147.6 1,772.6 1,809 2,153.6 2,400.6 2,784.7 2,278.4 2,312.3 2,535.1 2,026.9 1,779.2 1,997.2 1,877.8 1,549.7 1,331.3 1,204.5 1,424.1 1,338.2 1,400.9 1,387.9 1,732.6 1,968.1 1,763.8 2,052.9 1,878 1,328.8 1,242.1 1,201.5 1,320.5 1,153 1,074.6 1,384.2 1,674.5 1,485.5 1,477.2 1,400.6 1,300.1 1,033.7 1,057.9 1,297.7 1,166.2 936.3
Gross Profit 1,274.2 1,747.9 978.3 892.9 923.8 1,104.2 864.5 781.9 1,003.9 722.4 582.4 535.1 695.3 900.7 766.6 699.5 545.9 652.2 516.5 420.4 543.8 731.5 317.1 206.7 267 325.1 191.7 144.1 134 195.7 226.7 176 180.8 212.3 108.5 83.1 122.3 134.8 94.8 252.3 237.9 223.3 293.9 298.5 291.8 300.3 320.2 298.1 300 281.8 228 199.5 196.3 206.8 240.5 244.5 261.6 259.5 228.1 250.5 217.5 227.1 186.3 182.2 185.9 224.8 189.3
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 107.8 111.7 104.8 95 94.5 97.5 102.6 98.3 86.5 95.3 90 81 82.4 92.5 79.1 71 67.1 80.8 67.3 63.7 61.4 74 58.6 61.5 60.5 57.2 69.9 72.8 81.1 80 63.2 57 56.7 54 49.9 51 48.7 48.9 46.1 47 45.3 25.1 44.9 49.2 42.6 25.8 43 41.6 38 39 37.7 38.4 36.3 33.5 35.7 35.7 34.9 31 35.4 35.1 34.6 63.4 27 28 26 36.8 31.5
Other Expenses 319.5 718.8 (11.2) (10.7) (6.8) 306.2 (2.1) 0.1 278 0 0 0 0 256.8 257.5 (0.6) 183 663 (1.5) (0.4) 0.1 0.3 0.7 0.4 0.5 (3.7) 0 0 3.4 2.2 0.7 0.3 0.4 0.2 0.3 0.2 0.1 0.5 4.9 139 157.1 641.6 133.7 136.9 111.9 111.4 108.5 106.2 103.6 1.3 101.8 100.2 86.1 86.9 145.8 125.6 119 120.2 121.9 116.9 109.4 114.1 116 105.8 105.1 94.9 107.8
Operating Expenses 427.3 830.5 93.6 84.3 87.7 403.7 100.5 98.4 364.5 95.3 90 81 82.4 349.3 336.6 70.4 250.1 743.8 65.8 63.3 61.5 74.3 59.3 61.9 61 53.5 69.9 72.8 84.5 82.2 63.9 57.3 57.1 54.2 50.2 51.2 48.8 49.4 51 186 178.4 140.1 178.6 186.1 154.5 137.2 151.5 147.8 141.6 136.8 139.5 138.6 122.4 120.4 181.5 161.3 153.9 151.2 157.3 152 144 177.5 143 133.8 131.1 131.7 139.3
Operating Income
Operating Income 846.9 917.4 884.7 808.6 836.1 700.5 764 683.5 639.4 627.1 492.4 454.1 612.9 551.4 430 629.1 295.8 (91.6) 450.7 357.1 482.3 657.2 257.8 144.8 206 271.6 121.8 71.3 49.5 113.5 162.8 118.7 123.7 158.1 58.3 31.9 73.5 85.4 43.8 66.3 35.5 (206.9) 115.3 112.4 137.3 163.1 168.7 150.3 158.4 145 88.5 60.9 73.9 86.4 59 83.2 107.7 108.3 70.8 98.5 73.5 49.6 43.3 48.4 54.8 93.1 50
Interest Expense 0 216 221.3 218.4 197.1 177.7 184.9 176 228.6 178 175.1 166.6 168 145.6 125.8 81.2 93.6 103.7 91 94.8 98.4 98.9 97.7 96.7 98 96 89.1 72.1 80.6 67.4 87.3 64.9 56.4 52.4 54.5 57.7 63 67.2 62.7 71.4 52.9 42.4 67.8 67.6 54.1 40.6 36.9 35.7 33.9 36.2 33.4 32.4 32.1 29.8 30 30.5 30.5 28.4 26.8 28 28.5 27 30 26.4 27.5 29.3 36.9
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 24.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 1,272.9 1,298.7 1,225.7 1,413.4 916.7 1,080.6 1,086.4 979.4 979.9 980.9 840.7 984.1 1,159.9 881.1 704.3 1,126.9 504.9 65.5 604.8 469.8 558.4 502.2 506.4 456.1 (1,777.8) 256.7 363.1 356.2 291.4 156.7 279.4 422.4 303.2 294.4 11.1 226.6 216 25 236 252.4 253.9 303.9 281.1 277.7 258.1 256 257.5 237.1 238 222.2 157.5 126.6 137.9 157.8 107.6 131.5 155.1 158 116.3 145.1 118.5 101.9 104.1 94.7 109.2 134.2 95.4
EBIT 846.9 908.2 842.2 1,039.7 549.1 702.1 730 629.2 639.4 638.1 508 650.5 833.5 551.3 417.1 855.9 295.8 (154.2) 381 256.8 341.3 283.4 301.8 250.6 (2,017.6) 3 117.4 117.7 53 (52.9) 72.2 218.8 104.2 86.8 (198) 22.3 23.6 (170.2) 50.8 66.3 60.4 75.1 115.3 112.4 138.2 158.1 168.7 150.3 158.4 149 88.5 60.9 73.9 104.5 59 83.2 107.7 111.3 70.7 96.6 75.1 64.1 34.3 40.7 66.4 93.3 64.5
Income Before Tax 611.3 692.2 620.9 821.3 352 524.4 545.1 453.2 415.3 460.1 332.9 483.9 665.5 405.7 291.3 774.7 191.5 (257.9) 290 162 242.9 184.5 204.1 153.9 (2,115.6) (93) 28.3 45.6 (27.6) (120.4) (15.1) 153.9 47.8 34.4 (252.5) (35.4) (39.4) (237.4) (11.9) (12.9) 2.4 (246.5) 44.8 38.6 49.8 106.9 135.9 118.7 129.4 113.5 62.4 30.5 43.2 39.8 25 52.1 79.3 82.9 43.9 68.6 46.6 28.3 4.3 14.3 38.9 64 9.9
Income Tax Expense 123.9 139.1 134.3 184.1 72.2 110.4 97 94.3 82.7 102.5 53.9 96.4 110.3 9.8 12 87.1 22.9 (8.7) 2 6.6 15 38.5 31.9 (23.2) (295.3) (77.9) (3.8) (3.3) (2.9) (32.2) (3.9) 32.8 8.9 (264.8) (97.4) (106) 71.1 (96.8) (8.7) 1.7 3.1 (14.5) 24 14.8 15.2 14.4 15.5 15.5 22.5 17.9 13 8 9.4 12.2 6 8.6 10.1 8.1 7.4 5.3 5.8 4 8.6 6.9 3 15.6 (0.6)
Net Income 479.6 545 475.5 625.1 198.8 351 384.5 296.2 275.2 277.7 217.8 325.7 6.3 318 193.1 596.4 88 (313.6) 182.2 56.2 146.4 33.6 69.3 81 (1,737.8) (112.8) (47.3) (10.2) (38.9) (106.4) (23.7) 109.1 22.9 283.1 (167.6) 57.6 (119.3) (150.8) (10.7) (23.2) (2.7) 26.9 12.7 15.2 3.2 25.6 30.7 26.4 19.6 20.4 16.3 15 13.4 11.2 8.7 8.6 9.6 8.5 4.9 10.5 6.8 (7.8) (17.5) (11.6) 21.9 16.3 (0.5)
Per Share Data
EPS (Basic) 2.23 2.53 2.21 2.89 0.91 1.45 1.76 1.34 1.23 1.25 0.97 1.44 0.03 1.41 0.85 1.64 0.06 -1.47 0.70 0.15 0.55 -0.00 0.16 0.21 -7.60 -0.62 -0.34 -0.18 -0.30 -0.59 -0.24 0.36 -0.03 1.17 -0.91 0.14 -0.77 -0.97 -0.23 -0.15 -0.02 0.48 0.23 0.27 0.07 0.61 0.73 0.63 0.47 0.49 0.39 0.36 0.32 0.27 0.21 0.21 0.23 0.21 0.12 0.26 0.17 -0.19 -0.41 -0.27 5.62 0.39 -0.13
EPS (Diluted) 2.21 2.53 2.20 2.88 0.91 1.45 1.75 1.33 1.22 1.25 0.97 1.44 0.03 1.41 0.84 1.61 0.06 -1.47 0.58 0.15 0.45 -0.00 0.16 0.21 -7.60 -0.62 -0.34 -0.18 -0.30 -0.59 -0.24 0.35 -0.03 1.05 -0.91 0.14 -0.77 -0.97 -0.23 -0.14 -0.02 0.48 0.23 0.27 0.07 0.61 0.73 0.63 0.47 0.48 0.39 0.36 0.32 0.27 0.21 0.21 0.23 0.20 0.12 0.25 0.16 -0.19 -0.41 -0.27 5.62 0.39 -0.13
Shares Outstanding 215 215 215.2 216.6 217.9 220.2 219 221 222.8 222.6 223.8 225.6 226.4 226.8 226.6 227.8 228.5 228.8 228.8 228.6 228.5 228.5 233.4 233.1 232.9 232.8 231.2 228.9 232.2 230.5 225 221.1 218.7 216.2 215.6 203.7 191.8 181.1 168.0 159.4 160.6 56 56 55.9 45.8 42 42 42 42 41.7 41.6 41.6 41.6 41 41 41 41 41 41 41 40.9 40.9 42.3 42.3 42.3 42.3 3.9
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2010 Q2 2009 Q4
Current Assets
Cash & Cash Equivalents 100.1 166.1 124.1 113.1 151.4 157.3 127.2 166.4 109.9 141.7 139.5 169.4 211.8 219 192.9 154 135.9 158.5 228.6 209 248.5 242.8 275 196.2 375.2 331.1 326.3 226.5 124.9 232.1 203.2 281.6 219.8 137.2 114.1 98.7 80 73.5 141.1 170.9 114.5 249.4 252.4
Short-Term Investments 0 0 99.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 1,691.7 1,474.6 1,407.7 1,408.6 1,403.3 1,618.3 1,301.2 1,216.9 1,483.7 1,471 1,241.1 988.1 1,023.4 1,408.4 1,534.9 1,612.6 1,567.2 1,331.9 1,291 901.8 997.1 862.8 609.8 547.2 438.1 855 744 637.2 752.8 865.5 1,037.2 867.2 745.6 827.6 715 552.4 608.3 742.4 625.9 490.1 428.4 330.7 404.3
Inventory 334.4 429.3 490.7 443.5 256.2 334.3 414.9 320.6 224.5 371.5 536.2 312.3 156.2 393.8 471.3 202.2 97.5 153.4 316.8 65.6 51.6 181.5 261.7 219.3 100.2 161.5 210.9 205.1 197.9 164.7 177.9 181.4 96.7 204.5 267.4 197.7 75.5 137.7 150.3 111 61.7 49.3 39.4
Other Current Assets 312 292.7 157.3 242 265.3 186.4 184.9 162.7 154.9 210.4 222.5 259 247.4 335.4 298.2 195.3 99.9 126 156.9 141.5 111.6 173.2 187.8 167.1 300.8 310.7 194.8 143.1 105.4 156.6 308.1 101.3 98.2 100.6 104.3 66.1 48.3 53.2 59.4 84.7 111.3 59.3 48.9
Total Current Assets 2,438.2 2,362.7 2,279.6 2,207.2 2,076.2 2,296.3 2,028.2 1,866.6 1,973 2,194.6 2,139.3 1,728.8 1,638.8 2,356.6 2,497.3 2,164.1 1,900.5 1,769.8 1,993.3 1,317.9 1,408.8 1,460.3 1,444.4 1,225 1,214.3 1,658.3 1,476 1,211.9 1,181 1,418.9 1,726.4 1,431.5 1,160.3 1,269.9 1,200.8 914.9 812.1 1,006.8 976.7 856.7 715.9 688.7 745
Non-Current Assets
Property, Plant & Equipment 21,770.9 20,628.7 19,610.1 19,020.3 18,405.6 18,062.7 17,425.2 16,891.2 16,282.8 15,806.4 15,333.5 14,890.4 14,470 14,214.6 13,716.4 11,878.3 11,653 11,667.7 11,922.4 11,996.6 12,060.7 12,173.6 12,292.8 12,417.4 12,411.8 14,548.5 14,696.9 14,368.8 13,703.4 12,928.4 12,080.9 11,421.3 10,841.6 10,430 10,068.8 10,226.8 9,963.4 9,691 9,680.2 9,702.5 9,734.6 2,508.2 2,548.1
Goodwill 0 112.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 45.2 46.6 46.6 46.6 46.6 256.6 256.6 256.6 256.6 256.6 256.6 369 210 393 393 393 0 0
Intangible Assets 2,201.2 1,651.4 1,732.9 1,814.4 1,895.9 1,977.4 2,070.7 2,164 2,257.3 2,350.6 2,446.6 2,542.6 2,638.6 2,734.6 2,839.7 1,038.8 1,066.8 1,094.8 1,284.2 1,316.9 1,349.6 1,382.4 1,417.6 1,452.8 1,488 1,735 1,854.4 1,897.3 1,940.2 1,983.2 2,029.6 2,074.3 2,120.1 2,165.8 2,214.8 2,264.7 2,238.8 1,654 1,693 1,726 1,765.1 0 0
Long-Term Investments 315 307.1 349.1 268.6 217.6 193.3 177.3 159.8 152.2 146.3 138.3 131.8 134.7 131.3 136.4 137.1 579.8 586.5 674.6 685.2 695.7 714 718.8 724.3 736.8 738.7 718.5 676.7 605.9 490.5 441.5 363.9 313.4 221.6 222.1 218.4 227 240.8 246.9 250.2 254.9 0 0
Other Non-Current Assets 382 156.2 203.1 202.3 205 204.4 202.4 182.6 180.8 173.9 131.9 168.2 143.4 122.9 200.1 116 95.3 89.4 98.2 95.2 133.6 145.4 178.5 145.9 175.9 134.6 126.1 116.9 92.1 70.6 34.1 48.5 61.2 44.7 35.2 37 43.5 68.6 65.8 71.7 85.7 124.5 74.4
Total Non-Current Assets 24,669.1 22,855.7 21,895.2 21,305.6 20,724.1 20,437.8 19,875.6 19,397.6 18,873.1 18,477.2 18,050.3 17,733 17,386.7 17,203.4 16,892.6 13,170.2 13,394.9 13,438.4 13,979.4 14,093.9 14,239.6 14,415.4 14,607.7 14,740.4 14,812.5 17,156.8 17,442.5 17,106.3 16,388.2 15,519.3 14,842.7 14,164.6 13,592.9 13,118.7 12,797.5 13,003.5 12,841.7 11,864.4 12,078.9 12,143.4 12,233.3 2,632.7 2,622.5
Total Assets 27,107.3 25,218.4 24,174.8 23,512.8 22,800.3 22,734.1 21,903.8 21,264.2 20,846.1 20,671.8 20,189.6 19,461.8 19,025.5 19,560 19,389.9 15,334.3 15,295.4 15,208.2 15,972.7 15,411.8 15,648.4 15,875.7 16,052.1 15,965.4 16,026.8 18,815.1 18,918.5 18,318.2 17,569.2 16,938.2 16,569.1 15,596.1 14,753.2 14,388.6 13,998.3 13,918.4 13,653.8 12,871.2 13,055.6 13,000.1 12,949.2 3,321.4 3,367.5
Current Liabilities
Account Payables 1,987.9 1,873 1,584.4 1,726.7 1,889.8 2,012.5 1,467.9 1,686.8 1,709.5 1,574.9 1,581.3 1,173.3 1,255.3 1,448.8 1,806.4 1,901 1,803.5 1,402.3 1,652.3 1,034.5 947.7 833.8 617.7 607.7 583.4 954.8 976.5 984.5 1,167.3 1,200.5 1,494.2 1,112 849.7 1,001.2 823.2 674.9 634.3 691.4 533.1 528.8 420.2 158.9 206.4
Short-Term Debt 696.9 677 689.3 703.3 600 330 600 550 500 575 560 547.9 704 800 750 400 270 150 340 360 270 356.5 250 250 268.1 370 246 298.3 307.6 1,027.9 290 180 300 350 528.4 500.1 534.9 275 225 225 150 0 12.5
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 711.1 234.1 240.2 154.6 362.7 167.3 72.2 111.7 76.8 54 105.8 51.1 156.6 320.1 401 425.5 499.8 258.2 472.3 292 151.2 142.6 124.7 80.5 55.6 110.5 141.3 93.8 69.8 90.9 225.7 145.9 78.8 132.5 118.5 39.3 42.4 86.3 41 39.2 18.5 28.1 30.6
Total Current Liabilities 3,395.9 3,546.8 2,947.2 3,176.7 3,198.1 3,172.6 2,627.3 2,890.6 2,814.5 2,760.9 2,682.1 2,320.6 2,466.6 3,066.7 3,393.7 3,153.4 2,910.4 2,298.5 2,868.3 2,102.1 1,765 1,779.4 1,380.9 1,319.7 1,196 1,872.6 1,669.3 1,658 2,041.6 2,798.8 2,556.4 1,953.3 1,384.3 1,616.6 1,633.3 1,395.6 1,424.3 1,167.6 948.8 937.6 693 563.5 553.8
Non-Current Liabilities
Long-Term Debt 18,185.3 16,402 16,742 15,842.7 15,312.5 13,546.5 13,364.1 12,723.3 12,276.9 12,089.1 12,080 11,588 11,230.7 10,509.1 10,391.4 7,026.6 6,951.3 6,420.7 6,419.4 6,588.1 7,073.8 7,368.4 7,631.5 7,556.4 7,614.6 7,414.4 7,252.8 6,611.6 7,090.8 5,632.4 5,678.9 5,392.5 5,064.2 4,703 4,368.6 3,937.5 4,213.3 4,606 4,725.9 4,778.3 4,921.2 1,625.1 1,593.5
Deferred Tax Liabilities 1,479.2 0 1,226 1,079.4 902.2 872.1 793.7 684.5 600.2 535.8 418.3 405.1 298.3 327.7 301.4 213.4 88 136 78.7 124.1 161.3 152.1 131.1 134.6 204.4 434.2 527.7 512.7 507.6 525.2 487.5 519.2 509.6 479 728.5 852.9 951.6 941.2 1,141.7 1,083 1,117 80.5 50
Other Non-Current Liabilities 528.3 1,721.5 425.8 463 579.2 274 222.7 176.3 148.2 126.6 155.4 143.4 177.1 253.9 275.3 520.4 1,314.8 954.3 1,191.7 1,185.3 1,109 439.2 676.4 662.4 614.1 406 621.9 344.2 341.8 335.5 399.7 346.6 695.5 697.8 655 728.9 824.7 362.2 332.2 331.5 308.1 183.2 415.3
Total Non-Current Liabilities 20,442.4 18,473.4 18,393.8 17,624.7 17,029.7 15,143.3 14,818 14,024.6 13,454 13,300.9 13,129.7 12,601 12,146.7 11,511.1 11,264.8 7,780 8,367.7 7,731 7,704.5 7,913.2 8,361 8,193.1 8,459.7 8,376.6 8,458.3 8,499.6 8,429.3 7,721.1 8,190.3 6,668.6 6,742.5 6,392.6 6,404.5 6,016 5,819.6 5,587.6 6,058.6 5,979.2 6,229.9 6,225.4 6,375.5 1,888.8 2,058.8
Total Liabilities 23,838.3 22,020.2 21,341 20,801.4 20,227.8 18,315.9 17,445.3 16,915.2 16,268.5 16,061.8 15,811.8 14,921.6 14,613.3 14,577.8 14,658.5 10,933.4 11,278.1 10,029.5 10,572.8 10,015.3 10,126 9,972.5 9,840.6 9,696.3 9,654.3 10,372.2 10,098.6 9,379.1 10,231.9 9,467.4 9,298.9 8,345.9 7,788.8 7,632.6 7,452.9 6,983.2 7,482.9 7,146.8 7,178.7 7,163 7,068.5 2,452.3 2,612.6
Stockholders' Equity
Common Stock 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0 0
Retained Earnings 2,556.9 2,294.4 1,966.2 1,705.4 1,295.3 1,190 1,004.7 783.9 654.1 492 305.5 199.5 (129.8) (626.8) (944.8) (1,137.9) (1,734.3) (1,822.3) (1,508.7) (1,690.9) (1,747.1) (1,893.5) (1,927.1) (1,996.4) (2,077.4) (339.6) (226.8) (179.5) (169.3) (130.4) (23.8) 60 (49.1) (77.2) (360.5) (192.9) (250.5) (187.3) (36.6) (25.9) (2.7) (75.7) (85.8)
Accumulated Other Comprehensive Income (14.7) 113.8 57.4 43.2 6.1 27.5 65.1 11.4 33.9 85.6 (5.3) 130.8 84.8 54.7 (6.7) (276.4) (418.4) (230.9) (442.1) (294.4) (158.4) (141.8) (90.8) 21.6 168.4 92.5 140.9 83 48.9 94.3 (125.9) (37.9) 34.4 (29.9) (43.5) 21.5 6.5 (38.3) (2.7) (5.7) 43 5.9 (20.3)
Total Stockholders' Equity 3,136.5 3,067.9 2,706.8 2,588.1 2,451.5 2,592.4 2,573.9 2,467.5 2,703.9 2,739.7 2,506.1 2,675.2 2,550.7 2,665.7 2,384.5 2,069.9 1,697 2,011.8 2,185.1 2,186.2 2,296.7 2,653.9 2,835 2,917.6 3,026.3 4,920.8 5,318.4 5,542.3 5,756.3 6,079.4 6,081.4 6,217.8 6,090.7 6,160.3 5,995.8 6,460.9 5,689.9 5,248.6 5,306.8 5,274.8 5,333.1 58.6 87.4
Total Liabilities & Equity 27,107.3 25,218.4 24,174.8 23,512.8 22,800.3 22,734.1 21,903.8 21,264.2 20,846.1 20,671.8 20,189.6 19,461.8 19,025.5 19,560 19,389.9 15,334.3 15,295.4 15,208.2 15,972.7 15,411.8 15,648.4 15,875.7 16,052.1 15,965.4 16,026.8 18,815.1 18,918.5 18,318.2 17,569.2 16,938.2 16,569.1 15,596.1 14,753.2 14,388.6 13,998.3 13,918.4 13,653.8 12,871.2 13,055.6 13,000.1 12,949.2 3,321.4 3,367.5
Debt Metrics
Total Debt 19,131.8 17,546.3 17,431.3 16,850.5 16,208.7 14,265 14,335.6 13,646.7 13,132.6 13,010.4 12,955.9 12,438.4 12,205.8 11,565 11,257.5 7,460.8 7,248.7 6,631.7 6,786.7 6,975.5 7,372.7 7,801.9 7,914.1 7,841.5 7,920.4 7,869.6 7,537.7 6,999.6 7,484.4 6,660.3 5,968.9 5,572.5 5,364.2 5,053 4,897 4,437.6 4,748.2 4,881 4,950.9 5,003.3 5,071.2 1,625.1 1,606
Net Debt 19,031.7 17,380.2 17,307.2 16,737.4 16,057.3 14,107.7 14,208.4 13,480.3 13,022.7 12,868.7 12,816.4 12,269 11,994 11,346 11,064.6 7,306.8 7,112.8 6,473.2 6,558.1 6,766.5 7,124.2 7,559.1 7,639.1 7,645.3 7,545.2 7,538.5 7,211.4 6,773.1 7,359.5 6,428.2 5,765.7 5,290.9 5,144.4 4,915.8 4,782.9 4,338.9 4,668.2 4,807.5 4,809.8 4,832.4 4,956.7 1,375.7 1,353.6
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income 479.6 545 475.5 637.2 279.8 414 447.9 359 332.6 357.6 279 387.5 555.2 395.9 279.3 687.6 168.6 (249.2) 288 155.4 227.9 146 172.2 177.1 (1,820.3) (15.1) 32.1 48.9 (24.7) (88.2) (11.4) 121.1 38.9 299.2 (155.1) 70.6 (110.5) (140.7) (3.2) (14.5) (0.7)
Depreciation & Amortization 426 390.5 383.5 373.7 367.6 378.5 355.4 348.6 340.5 341.4 331.3 332.1 324.8 329.8 287.2 269.9 209.1 219.7 222.9 211.8 216.2 217.8 203.7 204.5 239.1 252.7 244.3 237.2 237.4 208.8 206.4 202.6 198.1 206.7 208.2 203.5 191.1 194.1 184 186.1 193.5
Stock-Based Compensation 23.2 17.3 17.5 17.1 17.6 15.8 17.7 15.1 14.6 16.7 15.7 15 15 15.7 14.5 13.8 13.5 14.6 14.7 14.9 15 16.7 16.4 16.1 17 11.3 16.3 16.2 16.5 15.6 13.8 13.7 13.2 10.6 10.2 10.7 10.8 7.5 7 7.2 8
Change in Working Capital (445.1) 388.4 (488) (73) (21) 323.2 (396.2) 32.8 78.9 118.5 (314.5) (3.5) 338.7 (230.1) (246.7) (25.7) 138.5 (92.8) (29.3) 154.5 173.4 194.8 (70.5) (67.6) 2.6 (5.6) 19.1 (56.6) 54.2 (51.2) 73.3 (79.6) 94.6 89.5 (160.9) (50.1) 98 (43.1) (93.8) 20.2 41.1
Other Non-Cash Items 131.9 25.2 49 (266.5) 253.5 93.5 22.8 58 30 26 42.7 (147.3) (169.9) 17.5 114.7 (394.8) 197.4 621.2 (2.3) 81.4 32.8 36.4 3.1 (20.5) 2,292.6 305.4 58.7 2.3 27.1 176.6 92.7 (101.2) 0.7 61.7 263.1 19 55.9 292.8 17.9 15.5 (3.7)
Operating Cash Flow 739.5 1,505.5 599.2 858.3 954.4 1,327.9 540.9 904.5 876.4 957.7 407.3 676.8 1,169.8 537.5 459.6 635.5 748.2 504.1 495.2 623.8 679.8 648.8 356.8 286.3 452.6 470.8 366.7 244.7 307.6 229.4 370.9 189.3 354.4 407.6 67.4 145.8 318.7 276.7 103.2 216.2 241.3
Investing Activities
Capital Expenditure (899.5) (963.2) (671.8) (906.1) (792.2) (726.9) (828.8) (740.3) (669.8) (720) (591.7) (598) (475.7) (518.9) (395.9) (215.1) (204.4) (183.5) (122.7) (102.7) (96.2) (148.5) (187.2) (274.2) (341.7) (443.7) (683.1) (807.7) (943.3) (1,081.2) (871.1) (566.6) (595.9) (430.9) (339) (383.4) (144.2) (137.1) (117.3) (117.6) (190.1)
Acquisitions (1,261.3) (213.1) (48.5) (50.8) (21.3) (19) (19.3) (10.4) (8.7) (8.7) (8.2) 2.8 (5) 13.7 (3,516.1) 659.2 6.4 10 2.6 5.4 5.9 64.8 4.1 4.1 136.2 (5.9) 22.7 (75.4) (116.9) 201.9 (80.9) (54.1) (86.5) (4) (7.9) (86.9) (481.3) 0.9 (5.1) 0.5 3.4
Purchases of Investments 0 (6.2) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 1.7 2.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities (899.6) 0 26.8 0.1 0.2 (0.4) 0.8 0.9 0.6 1.7 0.7 1.4 (0.1) 3.1 16 1.3 1 (0.1) 6.4 1.4 0.3 (0.4) 1.2 (0.1) 3.6 (2.3) 2.8 (10.1) (9) (74.8) (3.9) 61.1 5.1 (0.3) (2) (12.8) 0 (0.4) 5.6 (0.1) (1.3)
Investing Cash Flow (2,160.9) (1,180.8) (691.1) (956.8) (813.3) (746.3) (847.3) (749.8) (677.9) (727) (599.2) (593.8) (480.8) (502.1) (3,896) 445.4 (197) (173.6) (113.7) (95.9) (90) (84.1) (181.9) (270.2) (201.9) (451.9) (657.6) (893.2) (1,069.2) (954.1) (955.9) (559.6) (677.3) (435.2) (348.9) (483.1) (625.5) (136.6) (116.8) (117.2) (188)
Financing Activities
Net Debt Issuance 1,668.5 (21.8) 497.2 628.2 2,038.8 (104.4) 684.4 480.6 99.2 39.1 491.4 187.6 618 157.8 3,725.7 182.6 631.1 (193.1) (193.2) (402) (391.2) (162.7) 65.7 (58.9) 132.9 291 584.7 (492.1) 745.5 690 395 215 310 161.4 458.1 (322.6) (140) (131.2) (55) (73.7) (844.9)
Stock Repurchased (55) (37) (155.6) (324.3) (124.9) (54.7) (221.2) (355.1) (123.7) (41) (153.6) (149.1) (85.8) (32.7) (81.6) (74.1) (72.2) 0 (4.5) 0 (8.6) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid (218.9) (215.8) (216.9) (218.4) (167.2) (164.9) (166.4) (167.6) (116.6) (112.5) (115.2) (114.3) (85.3) (80.9) (81) (109.8) (108) (47.3) (47.5) (44.7) (48) (50.8) (53.8) (49.4) (241.9) (238.1) (242.4) (237.4) (246.9) (231.7) (231.3) (222.7) (222.6) (219.2) (221) (203.3) (199.7) (187.7) (176.8) (150) (51.4)
Other Financing Activities (39.2) (8.1) (21.8) (25.3) (1,893.7) (227.5) (29.6) (56.1) (89.2) (114.1) (60.6) (49.6) (1,143.1) (53.5) (87.8) (1,061.5) (1,024.7) (160.2) (116.7) (120.7) (136.3) (383.4) (108) (86.8) (97.6) (67) 48.4 1,479.6 155.8 185.7 141.6 128.3 262.8 24.4 62.6 (23.9) (9) (62.3) (1.4) 2.9 (35.1)
Financing Cash Flow 1,355.4 (282.7) 102.9 60.2 (147) (551.5) 267.2 (98.2) (230.3) (228.5) 162 (125.4) (696.2) (9.3) 3,475.3 (1,062.8) (573.8) (400.6) (361.9) (567.4) (584.1) (596.9) (96.1) (195.1) (206.6) (14.1) 390.7 750.1 654.4 753.6 506.6 432.1 405.5 50.7 296.9 356 313.3 (207.7) (16.2) (42.6) (79)
Cash Position
Net Change in Cash (66) 42 11 (38.3) (5.9) 30.1 (39.2) 56.5 (31.8) 2.2 (29.9) (42.4) (7.2) 26.1 38.9 18.1 (22.6) (70.1) 19.6 (39.5) 5.7 (32.2) 78.8 (179) 44.1 4.8 99.8 101.6 (107.2) 28.9 (78.4) 61.8 82.6 23.1 15.4 18.7 6.5 (67.6) (29.8) 56.4 (25.7)
Cash at Beginning 166.1 124.1 113.1 151.4 157.3 127.2 166.4 109.9 141.7 139.5 169.4 211.8 219 192.9 154 135.9 158.5 228.6 209 248.5 242.8 275 196.2 375.2 331.1 326.3 226.5 124.9 232.1 203.2 281.6 219.8 137.2 114.1 98.7 80 73.5 141.1 170.9 114.5 140.2
Cash at End 100.1 166.1 124.1 113.1 151.4 157.3 127.2 166.4 109.9 141.7 139.5 169.4 211.8 219 192.9 154 135.9 158.5 228.6 209 248.5 242.8 275 196.2 375.2 331.1 326.3 226.5 124.9 232.1 203.2 281.6 219.8 137.2 114.1 98.7 80 73.5 141.1 170.9 114.5
Free Cash Flow (160) 542.3 (72.6) (47.8) 162.2 601 (287.9) 164.2 206.6 237.7 (184.4) 78.8 694.1 18.6 63.7 420.4 543.8 320.6 372.5 521.1 583.6 500.3 169.6 12.1 110.9 27.1 (316.4) (563) (635.7) (851.8) (500.2) (377.3) (241.5) (23.3) (271.6) (237.6) 174.5 139.6 (14.1) 98.6 51.2
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1 2011 Q4 2011 Q3 2011 Q2 2011 Q1 2010 Q4 2010 Q3 2010 Q2 2010 Q1 2009 Q4 2009 Q3
Income Statement
Revenue 4,094.7 4,055.5 4,201.7 4,026.2 4,852.8 4,405.3 3,885.9 3,618.6 4,562.4 4,231.8 3,881.4 3,208.7 4,297.3 4,554.8 5,360.1 6,232.5 4,959.1 5,441.6 4,543.4 3,526.1 3,767.4 2,922.3 2,005.9 1,455.2 1,889 2,472.7 1,964.3 1,953.1 2,287.6 2,596.3 3,011.4 2,454.4 2,493.1 2,747.4 2,135.4 1,862.3 2,119.5 2,012.6 1,644.5 1,583.6 1,442.4 1,647.4 1,632.1 1,699.4 1,679.7 2,032.9 2,288.3 2,061.9 2,352.9 2,159.8 1,556.8 1,441.6 1,397.8 1,527.3 1,393.5 1,319.1 1,645.8 1,934 1,713.6 1,727.7 1,618.1 1,527.2 1,220 1,240.1 1,483.6 1,391 1,125.6
Gross Profit 1,274.2 1,747.9 978.3 892.9 923.8 1,104.2 864.5 781.9 1,003.9 722.4 582.4 535.1 695.3 900.7 766.6 699.5 545.9 652.2 516.5 420.4 543.8 731.5 317.1 206.7 267 325.1 191.7 144.1 134 195.7 226.7 176 180.8 212.3 108.5 83.1 122.3 134.8 94.8 252.3 237.9 223.3 293.9 298.5 291.8 300.3 320.2 298.1 300 281.8 228 199.5 196.3 206.8 240.5 244.5 261.6 259.5 228.1 250.5 217.5 227.1 186.3 182.2 185.9 224.8 189.3
Operating Income 846.9 917.4 884.7 808.6 836.1 700.5 764 683.5 639.4 627.1 492.4 454.1 612.9 551.4 430 629.1 295.8 (91.6) 450.7 357.1 482.3 657.2 257.8 144.8 206 271.6 121.8 71.3 49.5 113.5 162.8 118.7 123.7 158.1 58.3 31.9 73.5 85.4 43.8 66.3 35.5 (206.9) 115.3 112.4 137.3 163.1 168.7 150.3 158.4 145 88.5 60.9 73.9 86.4 59 83.2 107.7 108.3 70.8 98.5 73.5 49.6 43.3 48.4 54.8 93.1 50
Net Income 479.6 545 475.5 625.1 198.8 351 384.5 296.2 275.2 277.7 217.8 325.7 6.3 318 193.1 596.4 88 (313.6) 182.2 56.2 146.4 33.6 69.3 81 (1,737.8) (112.8) (47.3) (10.2) (38.9) (106.4) (23.7) 109.1 22.9 283.1 (167.6) 57.6 (119.3) (150.8) (10.7) (23.2) (2.7) 26.9 12.7 15.2 3.2 25.6 30.7 26.4 19.6 20.4 16.3 15 13.4 11.2 8.7 8.6 9.6 8.5 4.9 10.5 6.8 (7.8) (17.5) (11.6) 21.9 16.3 (0.5)
EPS (Diluted) 2.21 2.53 2.20 2.88 0.91 1.45 1.75 1.33 1.22 1.25 0.97 1.44 0.03 1.41 0.84 1.61 0.06 -1.47 0.58 0.15 0.45 -0.00 0.16 0.21 -7.60 -0.62 -0.34 -0.18 -0.30 -0.59 -0.24 0.35 -0.03 1.05 -0.91 0.14 -0.77 -0.97 -0.23 -0.14 -0.02 0.48 0.23 0.27 0.07 0.61 0.73 0.63 0.47 0.48 0.39 0.36 0.32 0.27 0.21 0.21 0.23 0.20 0.12 0.25 0.16 -0.19 -0.41 -0.27 5.62 0.39 -0.13
Balance Sheet
Cash & Equivalents 100.1 166.1 124.1 113.1 151.4 157.3 127.2 166.4 109.9 141.7 139.5 169.4 211.8 219 192.9 154 135.9 158.5 228.6 209 248.5 242.8 275 196.2 375.2 331.1 326.3 226.5 124.9 232.1 203.2 281.6 219.8 137.2 114.1 98.7 80 73.5 141.1 170.9 114.5 249.4 252.4
Total Assets 27,107.3 25,218.4 24,174.8 23,512.8 22,800.3 22,734.1 21,903.8 21,264.2 20,846.1 20,671.8 20,189.6 19,461.8 19,025.5 19,560 19,389.9 15,334.3 15,295.4 15,208.2 15,972.7 15,411.8 15,648.4 15,875.7 16,052.1 15,965.4 16,026.8 18,815.1 18,918.5 18,318.2 17,569.2 16,938.2 16,569.1 15,596.1 14,753.2 14,388.6 13,998.3 13,918.4 13,653.8 12,871.2 13,055.6 13,000.1 12,949.2 3,321.4 3,367.5
Total Debt 19,131.8 17,546.3 17,431.3 16,850.5 16,208.7 14,265 14,335.6 13,646.7 13,132.6 13,010.4 12,955.9 12,438.4 12,205.8 11,565 11,257.5 7,460.8 7,248.7 6,631.7 6,786.7 6,975.5 7,372.7 7,801.9 7,914.1 7,841.5 7,920.4 7,869.6 7,537.7 6,999.6 7,484.4 6,660.3 5,968.9 5,572.5 5,364.2 5,053 4,897 4,437.6 4,748.2 4,881 4,950.9 5,003.3 5,071.2 1,625.1 1,606
Stockholders' Equity 3,136.5 3,067.9 2,706.8 2,588.1 2,451.5 2,592.4 2,573.9 2,467.5 2,703.9 2,739.7 2,506.1 2,675.2 2,550.7 2,665.7 2,384.5 2,069.9 1,697 2,011.8 2,185.1 2,186.2 2,296.7 2,653.9 2,835 2,917.6 3,026.3 4,920.8 5,318.4 5,542.3 5,756.3 6,079.4 6,081.4 6,217.8 6,090.7 6,160.3 5,995.8 6,460.9 5,689.9 5,248.6 5,306.8 5,274.8 5,333.1 58.6 87.4
Cash Flow
Operating Cash Flow 739.5 1,505.5 599.2 858.3 954.4 1,327.9 540.9 904.5 876.4 957.7 407.3 676.8 1,169.8 537.5 459.6 635.5 748.2 504.1 495.2 623.8 679.8 648.8 356.8 286.3 452.6 470.8 366.7 244.7 307.6 229.4 370.9 189.3 354.4 407.6 67.4 145.8 318.7 276.7 103.2 216.2 241.3
Capital Expenditure (899.5) (963.2) (671.8) (906.1) (792.2) (726.9) (828.8) (740.3) (669.8) (720) (591.7) (598) (475.7) (518.9) (395.9) (215.1) (204.4) (183.5) (122.7) (102.7) (96.2) (148.5) (187.2) (274.2) (341.7) (443.7) (683.1) (807.7) (943.3) (1,081.2) (871.1) (566.6) (595.9) (430.9) (339) (383.4) (144.2) (137.1) (117.3) (117.6) (190.1)
Free Cash Flow (160) 542.3 (72.6) (47.8) 162.2 601 (287.9) 164.2 206.6 237.7 (184.4) 78.8 694.1 18.6 63.7 420.4 543.8 320.6 372.5 521.1 583.6 500.3 169.6 12.1 110.9 27.1 (316.4) (563) (635.7) (851.8) (500.2) (377.3) (241.5) (23.3) (271.6) (237.6) 174.5 139.6 (14.1) 98.6 51.2