Targa Resources Inc (TRGP)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	16,473,200	16,299,700	16,344,500	16,129,600	16,052,600	16,375,600	17,839,100	20,491,200	20,929,800	21,816,600	20,916,200	18,276,300	16,949,900	14,081,100	11,736,500	9,844,100	8,260,300	8,161,400	7,948,800	8,420,600
Total assets	US$ in thousands	22,734,100	21,903,800	21,264,200	20,846,100	22,026,900	20,189,600	19,461,800	19,025,500	19,560,000	19,389,900	15,334,300	15,295,400	15,208,200	15,972,700	15,411,800	15,648,400	15,875,700	16,052,100	15,965,400	16,026,800
Total asset turnover		0.72	0.74	0.77	0.77	0.73	0.81	0.92	1.08	1.07	1.13	1.36	1.19	1.11	0.88	0.76	0.63	0.52	0.51	0.50	0.53

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $16,473,200K ÷ $22,734,100K
= 0.72

The total asset turnover ratio of Targa Resources Inc has shown a fluctuating trend over the period from March 31, 2020 to December 31, 2024. The ratio started at 0.53 in March 2020, decreased to 0.50 in June 2020, and hovered around 0.50 to 0.60 until March 2021.

From March 2021 to June 2022, there was a significant improvement in total asset turnover, with the ratio increasing steadily from 0.63 to 1.36. This indicates that the company was generating more revenue from its assets during this period.

However, starting from September 2022, the total asset turnover ratio began to decline, dropping to 0.74 by December 31, 2024. This suggests that Targa Resources Inc may have experienced challenges in efficiently utilizing its assets to generate revenue in the latter part of the period.

Overall, the trend in total asset turnover reflects fluctuations in the company's efficiency in generating sales from its total assets, indicating varying levels of asset utilization and operational performance over the analyzed period.