vs
Side-by-side financial comparison of Cheniere Energy Partners, L.P. (CQP) and Targa Resources (TRGP). Click either name above to swap in a different company.
Targa Resources is the larger business by last-quarter revenue ($4.1B vs $3.6B, roughly 1.1× Cheniere Energy Partners, L.P.). Targa Resources runs the higher net margin — 11.9% vs 5.2%, a 6.7% gap on every dollar of revenue. On growth, Cheniere Energy Partners, L.P. posted the faster year-over-year revenue change (20.4% vs -10.2%). Over the past eight quarters, Cheniere Energy Partners, L.P.'s revenue compounded faster (37.9% CAGR vs 15.9%).
Total revenue of oil and gas companies is listed in billions of U.S. dollars. Total revenue is usually self-reported by companies, and often reported by neutral, unbiased, reliable publications. Reported data may be subsequently revised or restated due to a wide range of issues such as exchange rates, contract settlements, or mid-year discontinuation of products or services. Fiscal years are for January 1 to December 31, except where noted. Empty cells indicate that no data for that year has ...
Targa Resources Corp. is a Fortune 500 company based in Houston, Texas. Targa, a midstream energy infrastructure corporation, is one of the largest infrastructure companies delivering natural gas and natural gas liquids in the United States. Their operations are based largely, though not entirely, on the Gulf Coast, particularly in Texas and Louisiana. Matthew J. Meloy has been Chief Executive Officer since 2020.
CQP vs TRGP — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.6B | $4.1B |
| Net Profit | $186.0M | $487.4M |
| Gross Margin | — | — |
| Operating Margin | 10.0% | — |
| Net Margin | 5.2% | 11.9% |
| Revenue YoY | 20.4% | -10.2% |
| Net Profit YoY | — | 74.2% |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $3.6B | $4.1B | ||
| Q4 25 | $2.9B | $4.1B | ||
| Q3 25 | $2.4B | $4.2B | ||
| Q2 25 | $2.5B | $4.3B | ||
| Q1 25 | $3.0B | $4.6B | ||
| Q4 24 | $2.5B | $4.4B | ||
| Q3 24 | $2.1B | $3.9B | ||
| Q2 24 | $1.9B | $3.0B |
| Q1 26 | $186.0M | $487.4M | ||
| Q4 25 | $1.3B | $545.0M | ||
| Q3 25 | $506.0M | $478.4M | ||
| Q2 25 | $553.0M | $629.1M | ||
| Q1 25 | $641.0M | $270.5M | ||
| Q4 24 | $623.0M | $350.9M | ||
| Q3 24 | $635.0M | $387.4M | ||
| Q2 24 | $570.0M | $298.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | 43.1% | ||
| Q3 25 | — | 39.6% | ||
| Q2 25 | — | 42.8% | ||
| Q1 25 | — | 28.6% | ||
| Q4 24 | — | 33.7% | ||
| Q3 24 | — | 38.6% | ||
| Q2 24 | — | 27.9% |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 50.5% | 22.6% | ||
| Q3 25 | 29.0% | 20.2% | ||
| Q2 25 | 29.1% | 24.3% | ||
| Q1 25 | 27.6% | 11.9% | ||
| Q4 24 | 33.0% | 15.9% | ||
| Q3 24 | 40.2% | 18.9% | ||
| Q2 24 | 40.4% | 20.6% |
| Q1 26 | 5.2% | 11.9% | ||
| Q4 25 | 44.2% | 13.4% | ||
| Q3 25 | 21.0% | 11.5% | ||
| Q2 25 | 22.5% | 14.8% | ||
| Q1 25 | 21.4% | 5.9% | ||
| Q4 24 | 25.3% | 8.0% | ||
| Q3 24 | 30.9% | 10.1% | ||
| Q2 24 | 30.1% | 9.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.51 | ||
| Q3 25 | — | $2.20 | ||
| Q2 25 | — | $2.87 | ||
| Q1 25 | — | $0.91 | ||
| Q4 24 | — | $1.44 | ||
| Q3 24 | — | $1.75 | ||
| Q2 24 | — | $1.33 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $279.0M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | — |
| Total Assets | $17.1B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $279.0M | — | ||
| Q4 25 | $182.0M | $166.1M | ||
| Q3 25 | $121.0M | $124.1M | ||
| Q2 25 | $108.0M | $113.1M | ||
| Q1 25 | $94.0M | $151.4M | ||
| Q4 24 | $270.0M | $157.3M | ||
| Q3 24 | $331.0M | $127.2M | ||
| Q2 24 | $351.0M | $166.4M |
| Q1 26 | — | — | ||
| Q4 25 | $14.2B | $16.7B | ||
| Q3 25 | $14.2B | $16.7B | ||
| Q2 25 | $14.2B | $16.1B | ||
| Q1 25 | $14.7B | $15.5B | ||
| Q4 24 | $14.8B | $13.8B | ||
| Q3 24 | $14.8B | $13.6B | ||
| Q2 24 | $14.8B | $13.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.1B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.5B |
| Q1 26 | $17.1B | — | ||
| Q4 25 | $17.4B | $25.2B | ||
| Q3 25 | $16.8B | $24.2B | ||
| Q2 25 | $16.9B | $23.5B | ||
| Q1 25 | $17.1B | $22.8B | ||
| Q4 24 | $17.5B | $22.7B | ||
| Q3 24 | $17.4B | $21.9B | ||
| Q2 24 | $17.5B | $21.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.43× | ||
| Q3 25 | — | 6.19× | ||
| Q2 25 | — | 6.21× | ||
| Q1 25 | — | 6.34× | ||
| Q4 24 | — | 5.32× | ||
| Q3 24 | — | 5.28× | ||
| Q2 24 | — | 5.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CQP
| LNG revenues | $2.7B | 75% |
| LNG revenues-affiliate | $846.0M | 24% |
| Regasification revenues | $34.0M | 1% |
| Other revenues | $17.0M | 0% |
TRGP
| Sales of commodities | $3.3B | 82% |
| Fees from midstream services | $750.1M | 18% |
