Targa Resources Balance Sheet Health
Financial Health criteria checks 2/6
Targa Resources has a total shareholder equity of $4.5B and total debt of $14.0B, which brings its debt-to-equity ratio to 313.2%. Its total assets and total liabilities are $21.9B and $17.4B respectively. Targa Resources's EBIT is $2.6B making its interest coverage ratio 3.4. It has cash and short-term investments of $127.2M.
Key information
313.2%
Debt to equity ratio
US$13.96b
Debt
| Interest coverage ratio | 3.4x |
| Cash | US$127.20m |
| Equity | US$4.46b |
| Total liabilities | US$17.45b |
| Total assets | US$21.90b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: TAR's short term assets ($2.0B) do not cover its short term liabilities ($2.6B).
Long Term Liabilities: TAR's short term assets ($2.0B) do not cover its long term liabilities ($14.8B).
Debt to Equity History and Analysis
Debt Level: TAR's net debt to equity ratio (310.3%) is considered high.
Reducing Debt: TAR's debt to equity ratio has increased from 82.5% to 313.2% over the past 5 years.
Debt Coverage: TAR's debt is well covered by operating cash flow (23.5%).
Interest Coverage: TAR's interest payments on its debt are well covered by EBIT (3.4x coverage).