• Targa Resources average return on tangible equity for 2023 was 41.57, a 302.81% increase from 2022.
• Targa Resources average return on tangible equity for 2022 was 10.32, a 187.47% increase from 2021.
• Targa Resources average return on tangible equity for 2021 was 3.59, a 111.18% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.