Targa Resources Inc (TRGP)
Current ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,194,600 | 2,139,300 | 1,728,800 | 1,638,800 | 2,356,600 | 2,497,300 | 2,164,100 | 1,900,500 | 1,769,800 | 1,993,300 | 1,317,900 | 1,408,800 | 1,460,300 | 1,444,400 | 1,225,000 | 1,214,300 | 1,658,300 | 1,476,000 | 1,211,900 | 1,181,000 |
| Total current liabilities | US$ in thousands | 2,760,900 | 2,682,100 | 2,320,600 | 2,466,600 | 3,066,700 | 3,393,700 | 3,153,400 | 2,910,400 | 2,298,500 | 2,868,300 | 2,102,100 | 1,765,000 | 1,779,400 | 1,380,900 | 1,319,700 | 1,196,000 | 1,872,600 | 1,669,300 | 1,658,000 | 2,041,600 |
| Current ratio | 0.79 | 0.80 | 0.74 | 0.66 | 0.77 | 0.74 | 0.69 | 0.65 | 0.77 | 0.69 | 0.63 | 0.80 | 0.82 | 1.05 | 0.93 | 1.02 | 0.89 | 0.88 | 0.73 | 0.58 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,194,600K ÷ $2,760,900K
= 0.79
The current ratio of Targa Resources Corp has shown fluctuations over the past eight quarters. The current ratio measures the company's ability to cover its short-term liabilities with its current assets. Targa Resources Corp's current ratio has ranged from a low of 0.65 in Q1 2022 to a high of 0.80 in Q3 2023.
Generally, a current ratio below 1 indicates that the company may have difficulty meeting its short-term obligations with its current assets alone. Targa Resources Corp's current ratio has mostly remained below 1, indicating potential liquidity concerns. However, it is important to consider industry norms and the company's specific operating requirements when evaluating the significance of the current ratio.
The fluctuation in Targa Resources Corp's current ratio over the past eight quarters suggests varying levels of liquidity and short-term solvency. Investors and creditors may monitor this metric closely to assess the company's ability to manage its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023