Targa Resources Inc (TRGP)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 20,671,800 | 19,560,000 | 15,208,200 | 15,875,700 | 18,815,100 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $20,671,800K
= 0.00
The debt-to-assets ratio for Targa Resources Corp has shown some fluctuations over the past five years. In 2023, the ratio increased to 0.63 from 0.59 in 2022, indicating that the company utilized more debt relative to its total assets in the most recent year. This increase in the ratio suggests that Targa Resources Corp may have taken on additional debt to finance its operations or investments.
Comparing the 2023 ratio to the ratios of the previous years, we see a significant increase from the 0.43 recorded in 2021 and a slight increase from 0.49 in 2020. However, the ratio remains above the 0.42 level in 2019.
Overall, the trend in the debt-to-assets ratio for Targa Resources Corp indicates that the company has been relying more on debt financing in recent years to support its assets. It is important for investors and stakeholders to monitor this ratio as it provides insights into the company's financial leverage and risk exposure.
Peer comparison
Dec 31, 2023