Targa Resources Inc (TRGP)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,194,600 | 2,356,600 | 1,769,800 | 1,460,300 | 1,658,300 |
| Total current liabilities | US$ in thousands | 2,760,900 | 3,066,700 | 2,298,500 | 1,779,400 | 1,872,600 |
| Current ratio | 0.79 | 0.77 | 0.77 | 0.82 | 0.89 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,194,600K ÷ $2,760,900K
= 0.79
Targa Resources Corp's current ratio has shown a gradual declining trend over the past five years, decreasing from 0.89 in 2019 to 0.79 in 2023. This indicates that the company may be facing challenges in meeting its short-term liabilities with its current assets. The current ratio has consistently been below 1.0, suggesting that Targa Resources Corp may have difficulty covering its immediate obligations using its current assets alone. It is important for investors and stakeholders to closely monitor the company's liquidity position and assess its ability to meet short-term financial commitments. Further analysis of the company's cash flows and liquidity management practices may provide insights into the factors contributing to the fluctuating current ratio.
Peer comparison
Dec 31, 2023