Targa Resources Inc (TRGP)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 157,300 | 127,200 | 166,400 | 109,900 | 141,700 | 139,500 | 169,400 | 211,800 | 219,000 | 192,900 | 154,000 | 135,900 | 158,500 | 228,600 | 209,000 | 248,500 | 242,800 | 275,000 | 196,200 | 375,200 |
| Short-term investments | US$ in thousands | — | 75,000 | 62,800 | 72,600 | 111,900 | 84,200 | 0 | — | 179,900 | 185,800 | 80,800 | 22,000 | 43,100 | 82,700 | 76,800 | 83,200 | 714,000 | 110,100 | 95,200 | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 3,172,600 | 2,627,300 | 2,890,600 | 2,814,500 | 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 |
| Quick ratio | 0.05 | 0.08 | 0.08 | 0.06 | 0.09 | 0.08 | 0.07 | 0.09 | 0.13 | 0.11 | 0.07 | 0.05 | 0.09 | 0.11 | 0.14 | 0.19 | 0.54 | 0.28 | 0.22 | 0.31 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($157,300K
+ $—K
+ $—K)
÷ $3,172,600K
= 0.05
The quick ratio of Targa Resources Inc, which measures the company's ability to meet its short-term obligations with its most liquid assets, has shown fluctuating trends over the reported periods.
Starting at a low of 0.31 as of March 31, 2020, the quick ratio decreased further to 0.22 by June 30, 2020, indicating a potential liquidity strain. However, it improved by September 30, 2020, to 0.28, suggesting a better ability to cover short-term liabilities.
The ratio then saw a substantial improvement, reaching 0.54 by December 31, 2020, which would typically be seen as a positive sign of improved liquidity. However, the ratio decreased significantly in subsequent periods, reaching a low of 0.05 by March 31, 2022.
Throughout the following periods up to December 31, 2024, the quick ratio fluctuated within a relatively narrow range between 0.05 and 0.13, indicating some volatility in the company's ability to meet its short-term obligations with its quick assets.
Overall, the quick ratio trend for Targa Resources Inc suggests a mixed performance in liquidity management over the reported periods, with some periods showing strength in liquidity position while others indicating a potential need for improvement. It is important for the company to closely monitor its liquidity levels and ensure they are adequate to meet its short-term obligations effectively.
Peer comparison
Dec 31, 2024