Targa Resources Inc (TRGP)
Number of days of payables
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables turnover | 7.22 | 7.44 | 11.32 | 12.94 | 11.97 | 7.89 | 7.13 | 6.21 | 7.02 | 6.69 | 8.45 | 7.27 | 9.22 | 12.49 | 12.64 | 13.92 | 6.41 | 6.58 | 7.60 | 6.87 | |
| Number of days of payables | days | 50.58 | 49.04 | 32.25 | 28.20 | 30.48 | 46.25 | 51.20 | 58.74 | 52.02 | 54.53 | 43.21 | 50.21 | 39.59 | 29.21 | 28.87 | 26.21 | 56.96 | 55.48 | 48.04 | 53.10 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 7.22
= 50.58
The number of days of payables for Targa Resources Corp has shown some variability over the past eight quarters. In Q4 2023, the company had 53.84 days of payables, which is higher compared to the previous quarter's 51.99 days. This indicates that Targa Resources took slightly longer to pay its suppliers in Q4 than it did in Q3 2023.
Looking further back, the number of days of payables has generally increased compared to earlier quarters in 2022. For instance, in Q1 2023, the company had 29.19 days of payables, which was lower than the averages seen in 2022.
Overall, Targa Resources Corp's number of days of payables has shown some fluctuations, but it is essential to consider this ratio alongside other liquidity and working capital metrics to get a holistic view of the company's financial health and management of its payables.
Peer comparison
Dec 31, 2023