Targa Resources Inc (TRGP)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 4,597,100 | 3,470,700 | 2,346,500 | 296,600 | 2,552,600 |
| Revenue | US$ in thousands | 16,060,300 | 20,929,800 | 16,949,800 | 8,260,300 | 8,671,100 |
| Gross profit margin | 28.62% | 16.58% | 13.84% | 3.59% | 29.44% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $4,597,100K ÷ $16,060,300K
= 28.62%
Targa Resources Corp's gross profit margin has fluctuated over the past five years, ranging from a low of 19.00% in 2021 to a high of 38.20% in 2020. The company's gross profit margin saw significant improvement in 2020 compared to the prior year, indicating a more efficient cost management or better pricing strategies during that period. However, there was a notable drop in 2021, which suggests potential challenges in controlling production costs or maintaining pricing power.
In 2022 and 2023, the gross profit margin increased to 19.34% and 33.52%, respectively. The significant rise in 2023 compared to the previous year indicates a positive trend towards improved profitability. Overall, Targa Resources Corp's gross profit margin performance reflects varying levels of operational efficiency, cost control, and pricing power over the years, which can have implications for the company's financial health and competitive position in the industry.
Peer comparison
Dec 31, 2023