Targa Resources Inc (TRGP)
Financial leverage 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 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 |
| 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 |
| Financial leverage ratio | 7.55 | 8.06 | 7.27 | 7.46 | 7.34 | 8.13 | 7.41 | 9.01 | 7.56 | 7.31 | 7.05 | 6.81 | 5.98 | 5.66 | 5.47 | 5.30 | 3.82 | 3.56 | 3.31 | 3.05 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $20,671,800K ÷ $2,739,700K
= 7.55
The financial leverage ratio of Targa Resources Corp has fluctuated over the past eight quarters, ranging from 6.25 to 8.13. The ratio has exhibited volatility, with a peak of 8.13 in Q3 2022 and a low of 6.25 in Q1 2022. In Q4 2023, the financial leverage ratio stood at 7.55, indicating that the company relies on debt financing to support its operations and growth initiatives. The increasing trend from Q1 2022 to Q3 2022 suggests a higher level of leverage during that period. Investors and stakeholders may want to monitor this ratio closely to assess the company's debt management and financial risk exposure.
Peer comparison
Dec 31, 2023