• Targa Resources average gross margin for 2023 was 29.46%, a 67.67% increase from 2022.
• Targa Resources average gross margin for 2022 was 17.57%, a 28.49% increase from 2021.
• Targa Resources average gross margin for 2021 was 24.57%, a 30.08% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.