How do Targa Resources and Yum! Brands compare by revenue?

Targa Resources reported revenue of $4.1B in Q4 FY2025, while Yum! Brands reported $2.5B in Q4 FY2025. Targa Resources is 1.6× larger by last-quarter revenue.

Which is growing revenue faster, Targa Resources or Yum! Brands?

Targa Resources's latest revenue grew -7.9% year-over-year, versus 6.5% for Yum! Brands. Yum! Brands is growing faster on a YoY basis.

Which has a higher gross margin, Targa Resources or Yum! Brands?

Targa Resources's gross margin is 43.1% vs Yum! Brands's 67.6%. Yum! Brands converts more of each revenue dollar into gross profit.

Which has a higher net margin, Targa Resources or Yum! Brands?

Targa Resources's net margin is 13.4% vs Yum! Brands's 21.3%. Yum! Brands has the higher bottom-line margin.

Which generates more free cash flow, Targa Resources or Yum! Brands?

Targa Resources generated $542.3M of free cash flow last quarter, versus $482.0M for Yum! Brands. Free cash flow is operating cash flow minus capital expenditure — what's actually left for dividends, buybacks and debt repayment.

What is the 2-year revenue CAGR for Targa Resources vs Yum! Brands?

Over the trailing 8 quarters, Targa Resources compounded revenue at roughly 0.8% per year, versus 25.5% for Yum! Brands. Yum! Brands has the faster medium-term growth trajectory.

Where does this TRGP vs YUM data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of Targa Resources (TRGP) and Yum! Brands (YUM). Click either name above to swap in a different company.

Targa Resources is the larger business by last-quarter revenue ($4.1B vs $2.5B, roughly 1.6× Yum! Brands). Yum! Brands runs the higher net margin — 21.3% vs 13.4%, a 7.8% gap on every dollar of revenue. On growth, Yum! Brands posted the faster year-over-year revenue change (6.5% vs -7.9%). Targa Resources produced more free cash flow last quarter ($542.3M vs $482.0M). Over the past eight quarters, Yum! Brands's revenue compounded faster (25.5% CAGR vs 0.8%).

Targa ResourcesTRGPEarnings & Financial Report

NYSE · Energy · Oil & Gas Storage & Transportation

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.

Yum! BrandsYUMEarnings & Financial Report

NYSE · Consumer Discretionary · Restaurants

Yum! Brands, Inc. is an American multinational fast food corporation. It was formed in 1977 as a subsidiary of PepsiCo, after the company acquired KFC, Pizza Hut, and Taco Bell. PepsiCo divested the brands in 1997, and these consolidated as Yum!. The company operates KFC, Pizza Hut, Taco Bell, Habit Burger & Grill, and several technology companies.

TRGP vs YUM — Head-to-Head

Bigger by revenue

TRGP

1.6× larger

$4.1B

$2.5B

Growing faster (revenue YoY)

YUM

+14.4% gap

6.5%

-7.9%

Higher net margin

YUM

7.8% more per $

21.3%

13.4%

More free cash flow

TRGP

$60.3M more FCF

$542.3M

$482.0M

Faster 2-yr revenue CAGR

YUM

Annualised

25.5%

0.8%

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric	TRGP	YUM
Revenue	$4.1B	$2.5B
Net Profit	$545.0M	$535.0M
Gross Margin	43.1%	67.6%
Operating Margin	22.6%	29.3%
Net Margin	13.4%	21.3%
Revenue YoY	-7.9%	6.5%
Net Profit YoY	55.3%	26.5%
EPS (diluted)	$2.51	$1.91

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.

Revenue

TRGP

YUM

Q4 25	$4.1B	$2.5B
Q3 25	$4.2B	$2.0B
Q2 25	$4.3B	$1.9B
Q1 25	$4.6B	$1.8B
Q4 24	$4.4B	$2.4B
Q3 24	$3.9B	$1.8B
Q2 24	$3.0B	$1.8B
Q1 24	$4.0B	$1.6B

Net Profit

TRGP

YUM

Q4 25	$545.0M	$535.0M
Q3 25	$478.4M	$397.0M
Q2 25	$629.1M	$374.0M
Q1 25	$270.5M	$253.0M
Q4 24	$350.9M	$423.0M
Q3 24	$387.4M	$382.0M
Q2 24	$298.5M	$367.0M
Q1 24	$275.2M	$314.0M

Gross Margin

TRGP

YUM

Q4 25	43.1%	67.6%
Q3 25	39.6%	70.3%
Q2 25	42.8%	71.0%
Q1 25	28.6%	70.9%
Q4 24	33.7%	69.2%
Q3 24	38.6%	71.4%
Q2 24	27.9%	73.3%
Q1 24	19.3%	75.0%

Operating Margin

TRGP

YUM

Q4 25	22.6%	29.3%
Q3 25	20.2%	33.7%
Q2 25	24.3%	32.2%
Q1 25	11.9%	30.7%
Q4 24	15.9%	27.8%
Q3 24	18.9%	33.9%
Q2 24	20.6%	34.4%
Q1 24	16.0%	32.5%

Net Margin

TRGP

YUM

Q4 25	13.4%	21.3%
Q3 25	11.5%	20.1%
Q2 25	14.8%	19.3%
Q1 25	5.9%	14.2%
Q4 24	8.0%	17.9%
Q3 24	10.1%	20.9%
Q2 24	9.8%	20.8%
Q1 24	6.9%	19.6%

EPS (diluted)

TRGP

YUM

Q4 25	$2.51	$1.91
Q3 25	$2.20	$1.41
Q2 25	$2.87	$1.33
Q1 25	$0.91	$0.90
Q4 24	$1.44	$1.49
Q3 24	$1.75	$1.35
Q2 24	$1.33	$1.28
Q1 24	$1.22	$1.10

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	TRGP	YUM
Cash + ST InvestmentsLiquidity on hand	$166.1M	$709.0M
Total DebtLower is stronger	$16.7B	$11.9B
Stockholders' EquityBook value	$3.1B	$-7.3B
Total Assets	$25.2B	$8.2B
Debt / EquityLower = less leverage	5.43×	—

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

TRGP

YUM

Q4 25	$166.1M	$709.0M
Q3 25	$124.1M	$1.0B
Q2 25	$113.1M	$677.0M
Q1 25	$151.4M	$607.0M
Q4 24	$157.3M	$707.0M
Q3 24	$127.2M	$548.0M
Q2 24	$166.4M	$520.0M
Q1 24	$109.9M	$652.0M

Total Debt

TRGP

YUM

Q4 25	$16.7B	$11.9B
Q3 25	$16.7B	$11.5B
Q2 25	$16.1B	$10.4B
Q1 25	$15.5B	$11.3B
Q4 24	$13.8B	$11.3B
Q3 24	$13.6B	$11.2B
Q2 24	$13.0B	$11.1B
Q1 24	$12.5B	$11.1B

Stockholders' Equity

TRGP

YUM

Q4 25	$3.1B	$-7.3B
Q3 25	$2.7B	$-7.5B
Q2 25	$2.6B	$-7.7B
Q1 25	$2.5B	$-7.8B
Q4 24	$2.6B	$-7.6B
Q3 24	$2.6B	$-7.7B
Q2 24	$2.5B	$-7.6B
Q1 24	$2.7B	$-7.8B

Total Assets

TRGP

YUM

Q4 25	$25.2B	$8.2B
Q3 25	$24.2B	$7.2B
Q2 25	$23.5B	$6.9B
Q1 25	$22.8B	$6.7B
Q4 24	$22.7B	$6.7B
Q3 24	$21.9B	$6.5B
Q2 24	$21.3B	$6.4B
Q1 24	$20.8B	$6.2B

Debt / Equity

TRGP

YUM

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	TRGP	YUM
Operating Cash FlowLast quarter	$1.5B	$617.0M
Free Cash FlowOCF − Capex	$542.3M	$482.0M
FCF MarginFCF / Revenue	13.4%	19.2%
Capex IntensityCapex / Revenue	23.8%	5.4%
Cash ConversionOCF / Net Profit	2.76×	1.15×
TTM Free Cash FlowTrailing 4 quarters	$584.1M	$1.6B

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow

TRGP

YUM

Q4 25	$1.5B	$617.0M
Q3 25	$599.2M	$543.0M
Q2 25	$858.3M	$446.0M
Q1 25	$954.4M	$404.0M
Q4 24	$1.3B	$513.0M
Q3 24	$540.9M	$471.0M
Q2 24	$904.5M	$342.0M
Q1 24	$876.4M	$363.0M

Free Cash Flow

TRGP

YUM

Q4 25	$542.3M	$482.0M
Q3 25	$-72.6M	$449.0M
Q2 25	$-47.8M	$375.0M
Q1 25	$162.2M	$333.0M
Q4 24	$601.0M	$407.0M
Q3 24	$-287.9M	$419.0M
Q2 24	$164.2M	$292.0M
Q1 24	$206.6M	$314.0M

FCF Margin

TRGP

YUM

Q4 25	13.4%	19.2%
Q3 25	-1.7%	22.7%
Q2 25	-1.1%	19.4%
Q1 25	3.6%	18.6%
Q4 24	13.6%	17.2%
Q3 24	-7.5%	22.9%
Q2 24	5.4%	16.6%
Q1 24	5.2%	19.6%

Capex Intensity

TRGP

YUM

Q4 25	23.8%	5.4%
Q3 25	16.2%	4.7%
Q2 25	21.3%	3.7%
Q1 25	17.4%	4.0%
Q4 24	16.5%	4.5%
Q3 24	21.5%	2.8%
Q2 24	24.3%	2.8%
Q1 24	16.8%	3.1%

Cash Conversion

TRGP

YUM

Q4 25	2.76×	1.15×
Q3 25	1.25×	1.37×
Q2 25	1.36×	1.19×
Q1 25	3.53×	1.60×
Q4 24	3.78×	1.21×
Q3 24	1.40×	1.23×
Q2 24	3.03×	0.93×
Q1 24	3.18×	1.16×

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%