Targa Resources Inc (TRGP)
Debt-to-assets 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 7,279,700 | 6,639,000 | 7,118,500 |
| Total assets | US$ in thousands | 20,671,800 | 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 | 18,815,100 | 18,918,500 | 18,318,200 | 17,569,200 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.38 | 0.36 | 0.41 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $20,671,800K
= 0.00
The debt-to-assets ratio of Targa Resources Corp has been relatively stable in recent quarters, ranging from 0.47 to 0.64. This ratio indicates that, on average, the company finances about 49% to 64% of its total assets through debt. The increasing trend from Q2 2022 to Q3 2023 suggests a growing reliance on debt for funding its operations and investments. Despite this upward trend, the ratio remains below 1, indicating that the company's assets are primarily financed through a combination of debt and equity. It is essential for investors and creditors to monitor this ratio to assess the company's leverage and financial risk levels.
Peer comparison
Dec 31, 2023