What is Targa Resources Corp. worth?
With the base-case assumptions below, a discounted cash flow model on Targa Resources Corp.'s reported free cash flow gives -$1.86 per share. The share price was $282.98 on November 10, 2026, 15,306% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | -$36.77 | -113% |
| Base | 15.0% | 9.0% | -$1.86 | -101% |
| Bull | 20.0% | 8.0% | $63.15 | -78% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $24.57 | $32.81 | $42.89 | $55.48 | $71.67 |
| 8.0% | $4.72 | $10.06 | $16.38 | $23.96 | $33.22 |
| 9.0% | -$9.73 | -$6.08 | -$1.86 | $3.06 | $8.87 |
| 10.0% | -$20.69 | -$18.09 | -$15.14 | -$11.78 | -$7.89 |
| 11.0% | -$29.26 | -$27.35 | -$25.22 | -$22.83 | -$20.11 |
Where the presets come from
Base: years 1 to 5 grow at Targa Resources Corp.'s revenue growth rate over the last 5 fiscal years (15.6% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions