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Side-by-side financial comparison of Targa Resources (TRGP) and TELUS CORP (TU). Click either name above to swap in a different company.
Targa Resources is the larger business by last-quarter revenue ($4.1B vs $3.7B, roughly 1.1× TELUS CORP). Targa Resources runs the higher net margin — 13.4% vs -4.8%, a 18.3% gap on every dollar of revenue. On growth, TELUS CORP posted the faster year-over-year revenue change (2.2% vs -7.9%).
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.
TELUS CORPTUEarnings & Financial Report
Telus Corporation is a Canadian publicly traded holding company and conglomerate, headquartered in Vancouver, British Columbia, which is the parent company of several subsidiaries: Telus Communications offers telephony, television, data and Internet services; Telus Mobility offers wireless services; Telus Health operates companies that provide health products and services; and Telus Digital operates worldwide, providing multilingual customer service outsourcing and digital IT services. Telus ...
TRGP vs TU — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1B | $3.7B |
| Net Profit | $545.0M | $-178.8M |
| Gross Margin | 43.1% | 90.2% |
| Operating Margin | 22.6% | 3.4% |
| Net Margin | 13.4% | -4.8% |
| Revenue YoY | -7.9% | 2.2% |
| Net Profit YoY | 55.3% | -210.9% |
| EPS (diluted) | $2.51 | — |
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.
| Q4 25 | $4.1B | — | ||
| Q3 25 | $4.2B | — | ||
| Q2 25 | $4.3B | $3.7B | ||
| Q1 25 | $4.6B | — | ||
| Q4 24 | $4.4B | — | ||
| Q3 24 | $3.9B | — | ||
| Q2 24 | $3.0B | $3.6B | ||
| Q1 24 | $4.0B | — |
| Q4 25 | $545.0M | — | ||
| Q3 25 | $478.4M | — | ||
| Q2 25 | $629.1M | $-178.8M | ||
| Q1 25 | $270.5M | — | ||
| Q4 24 | $350.9M | — | ||
| Q3 24 | $387.4M | — | ||
| Q2 24 | $298.5M | $161.3M | ||
| Q1 24 | $275.2M | — |
| Q4 25 | 43.1% | — | ||
| Q3 25 | 39.6% | — | ||
| Q2 25 | 42.8% | 90.2% | ||
| Q1 25 | 28.6% | — | ||
| Q4 24 | 33.7% | — | ||
| Q3 24 | 38.6% | — | ||
| Q2 24 | 27.9% | 87.9% | ||
| Q1 24 | 19.3% | — |
| Q4 25 | 22.6% | — | ||
| Q3 25 | 20.2% | — | ||
| Q2 25 | 24.3% | 3.4% | ||
| Q1 25 | 11.9% | — | ||
| Q4 24 | 15.9% | — | ||
| Q3 24 | 18.9% | — | ||
| Q2 24 | 20.6% | 13.7% | ||
| Q1 24 | 16.0% | — |
| Q4 25 | 13.4% | — | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | 14.8% | -4.8% | ||
| Q1 25 | 5.9% | — | ||
| Q4 24 | 8.0% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 9.8% | 4.4% | ||
| Q1 24 | 6.9% | — |
| 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 | — | ||
| Q1 24 | $1.22 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $166.1M | $2.7B |
| Total DebtLower is stronger | $16.7B | — |
| Stockholders' EquityBook value | $3.1B | $11.8B |
| Total Assets | $25.2B | $44.3B |
| Debt / EquityLower = less leverage | 5.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $166.1M | — | ||
| Q3 25 | $124.1M | — | ||
| Q2 25 | $113.1M | $2.7B | ||
| Q1 25 | $151.4M | — | ||
| Q4 24 | $157.3M | — | ||
| Q3 24 | $127.2M | — | ||
| Q2 24 | $166.4M | $676.7M | ||
| Q1 24 | $109.9M | — |
| Q4 25 | $16.7B | — | ||
| Q3 25 | $16.7B | — | ||
| Q2 25 | $16.1B | — | ||
| Q1 25 | $15.5B | — | ||
| Q4 24 | $13.8B | — | ||
| Q3 24 | $13.6B | — | ||
| Q2 24 | $13.0B | — | ||
| Q1 24 | $12.5B | — |
| Q4 25 | $3.1B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $2.6B | $11.8B | ||
| Q1 25 | $2.5B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $2.5B | $12.4B | ||
| Q1 24 | $2.7B | — |
| Q4 25 | $25.2B | — | ||
| Q3 25 | $24.2B | — | ||
| Q2 25 | $23.5B | $44.3B | ||
| Q1 25 | $22.8B | — | ||
| Q4 24 | $22.7B | — | ||
| Q3 24 | $21.9B | — | ||
| Q2 24 | $21.3B | $41.8B | ||
| Q1 24 | $20.8B | — |
| 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× | — | ||
| Q1 24 | 4.63× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.5B | $851.2M |
| Free Cash FlowOCF − Capex | $542.3M | — |
| FCF MarginFCF / Revenue | 13.4% | — |
| Capex IntensityCapex / Revenue | 23.8% | — |
| Cash ConversionOCF / Net Profit | 2.76× | — |
| TTM Free Cash FlowTrailing 4 quarters | $584.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | — | ||
| Q3 25 | $599.2M | — | ||
| Q2 25 | $858.3M | $851.2M | ||
| Q1 25 | $954.4M | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $540.9M | — | ||
| Q2 24 | $904.5M | $1.0B | ||
| Q1 24 | $876.4M | — |
| Q4 25 | $542.3M | — | ||
| Q3 25 | $-72.6M | — | ||
| Q2 25 | $-47.8M | — | ||
| Q1 25 | $162.2M | — | ||
| Q4 24 | $601.0M | — | ||
| Q3 24 | $-287.9M | — | ||
| Q2 24 | $164.2M | — | ||
| Q1 24 | $206.6M | — |
| Q4 25 | 13.4% | — | ||
| Q3 25 | -1.7% | — | ||
| Q2 25 | -1.1% | — | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | 13.6% | — | ||
| Q3 24 | -7.5% | — | ||
| Q2 24 | 5.4% | — | ||
| Q1 24 | 5.2% | — |
| Q4 25 | 23.8% | — | ||
| Q3 25 | 16.2% | — | ||
| Q2 25 | 21.3% | — | ||
| Q1 25 | 17.4% | — | ||
| Q4 24 | 16.5% | — | ||
| Q3 24 | 21.5% | — | ||
| Q2 24 | 24.3% | — | ||
| Q1 24 | 16.8% | — |
| Q4 25 | 2.76× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.36× | — | ||
| Q1 25 | 3.53× | — | ||
| Q4 24 | 3.78× | — | ||
| Q3 24 | 1.40× | — | ||
| Q2 24 | 3.03× | 6.28× | ||
| Q1 24 | 3.18× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TRGP
| Logistics And Transportation | $3.4B | 83% |
| Natural Gas Reserves | $393.1M | 10% |
| Storage Terminaling And Export | $130.9M | 3% |
| Oil And Condensate | $112.0M | 3% |
| NGL Transportation Fractionation And Services | $64.7M | 2% |
TU
Segment breakdown not available.
