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.