Targa Resources Inc (TRGP)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 2,739,700 | 2,506,100 | 2,675,200 | 2,550,700 | 2,665,700 | 2,384,500 | 2,069,900 | 1,697,000 | 2,011,800 | 2,185,100 | 2,186,200 | 2,296,700 | 2,653,900 | 2,835,000 | 2,917,600 | 3,026,300 | 4,920,800 | 5,318,400 | 5,542,300 | 5,756,300 |
| Debt-to-capital 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 | 0.58 | 0.55 | 0.55 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $2,739,700K)
= 0.00
The debt-to-capital ratio of Targa Resources Corp has been relatively stable over the past eight quarters, ranging from 0.75 to 0.84. This ratio indicates that, on average, approximately 80-83% of the company's capital structure is debt-financed. The slight fluctuations in the ratio suggest that the company's capital structure has remained fairly consistent, with a moderate reliance on debt to fund its operations and growth.
The increasing trend from Q2 2022 to Q3 2023 may indicate a gradual increase in debt relative to total capital during this period. However, the ratio remained within a relatively narrow range, which suggests that Targa Resources Corp has maintained a consistent approach to financing its operations. It is important for investors and stakeholders to monitor this ratio over time to assess the company's leverage and risk profile.
Peer comparison
Dec 31, 2023