TC ENERGY CORP (TRP.CA) Fundamental Analysis & Valuation
TSX:TRP • CA87807B1076
Current stock price
84.79 CAD
+1.36 (+1.63%)
Last:
This TRP.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
1. TRP.CA Profitability Analysis
1.1 Basic Checks
- In the past year TRP was profitable.
- In the past year TRP had a positive cash flow from operations.
- TRP had positive earnings in each of the past 5 years.
- Each year in the past 5 years TRP had a positive operating cash flow.
1.2 Ratios
- TRP has a Return On Assets (2.86%) which is in line with its industry peers.
- TRP has a better Return On Equity (12.46%) than 84.47% of its industry peers.
- The Return On Invested Capital of TRP (5.03%) is better than 71.84% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for TRP is below the industry average of 6.84%.
- The 3 year average ROIC (4.55%) for TRP is below the current ROIC(5.03%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.86% | ||
| ROE | 12.46% | ||
| ROIC | 5.03% |
ROA(3y)3%
ROA(5y)2.26%
ROE(3y)12.89%
ROE(5y)9.2%
ROIC(3y)4.55%
ROIC(5y)4.69%
1.3 Margins
- The Profit Margin of TRP (22.31%) is better than 86.89% of its industry peers.
- TRP's Profit Margin has declined in the last couple of years.
- Looking at the Operating Margin, with a value of 44.37%, TRP belongs to the top of the industry, outperforming 92.72% of the companies in the same industry.
- TRP's Operating Margin has been stable in the last couple of years.
- TRP has a better Gross Margin (69.69%) than 84.47% of its industry peers.
- TRP's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 44.37% | ||
| PM (TTM) | 22.31% | ||
| GM | 69.69% |
OM growth 3Y3.02%
OM growth 5Y-0.12%
PM growth 3Y73.39%
PM growth 5Y-8.23%
GM growth 3Y1.29%
GM growth 5Y-0.14%
2. TRP.CA Health Analysis
2.1 Basic Checks
- TRP has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
- TRP has about the same amout of shares outstanding than it did 1 year ago.
- The number of shares outstanding for TRP has been increased compared to 5 years ago.
- Compared to 1 year ago, TRP has a worse debt to assets ratio.
2.2 Solvency
- Based on the Altman-Z score of 0.79, we must say that TRP is in the distress zone and has some risk of bankruptcy.
- With a Altman-Z score value of 0.79, TRP perfoms like the industry average, outperforming 53.88% of the companies in the same industry.
- The Debt to FCF ratio of TRP is 29.22, which is on the high side as it means it would take TRP, 29.22 years of fcf income to pay off all of its debts.
- TRP has a Debt to FCF ratio of 29.22. This is in the better half of the industry: TRP outperforms 67.96% of its industry peers.
- TRP has a Debt/Equity ratio of 2.15. This is a high value indicating a heavy dependency on external financing.
- TRP has a worse Debt to Equity ratio (2.15) than 76.70% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.15 | ||
| Debt/FCF | 29.22 | ||
| Altman-Z | 0.79 |
ROIC/WACC0.76
WACC6.63%
2.3 Liquidity
- TRP has a Current Ratio of 0.63. This is a bad value and indicates that TRP is not financially healthy enough and could expect problems in meeting its short term obligations.
- Looking at the Current ratio, with a value of 0.63, TRP is in line with its industry, outperforming 47.09% of the companies in the same industry.
- A Quick Ratio of 0.56 indicates that TRP may have some problems paying its short term obligations.
- TRP's Quick ratio of 0.56 is in line compared to the rest of the industry. TRP outperforms 45.63% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.63 | ||
| Quick Ratio | 0.56 |
3. TRP.CA Growth Analysis
3.1 Past
- TRP shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -5.63%.
- TRP shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -3.47% yearly.
- TRP shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.66%.
- Measured over the past years, TRP shows a small growth in Revenue. The Revenue has been growing by 3.23% on average per year.
EPS 1Y (TTM)-5.63%
EPS 3Y-6.45%
EPS 5Y-3.47%
EPS Q2Q%88.46%
Revenue 1Y (TTM)10.66%
Revenue growth 3Y0.58%
Revenue growth 5Y3.23%
Sales Q2Q%206.47%
3.2 Future
- TRP is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.14% yearly.
- The Revenue is expected to grow by 5.68% on average over the next years.
EPS Next Y5.57%
EPS Next 2Y4.86%
EPS Next 3Y6.17%
EPS Next 5Y6.14%
Revenue Next Year6.53%
Revenue Next 2Y4.47%
Revenue Next 3Y4.8%
Revenue Next 5Y5.68%
3.3 Evolution
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
- The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. TRP.CA Valuation Analysis
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 24.09, which indicates a rather expensive current valuation of TRP.
- Based on the Price/Earnings ratio, TRP is valued a bit cheaper than the industry average as 63.11% of the companies are valued more expensively.
- TRP is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.42, which is the current average of the S&P500 Index.
- Based on the Price/Forward Earnings ratio of 22.82, the valuation of TRP can be described as rather expensive.
- 63.59% of the companies in the same industry are more expensive than TRP, based on the Price/Forward Earnings ratio.
- TRP's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.24.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.09 | ||
| Fwd PE | 22.82 |
4.2 Price Multiples
- The rest of the industry has a similar Enterprise Value to EBITDA ratio as TRP.
- TRP's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. TRP is cheaper than 63.11% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 42.88 | ||
| EV/EBITDA | 15.09 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
- TRP has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)4.33
PEG (5Y)N/A
EPS Next 2Y4.86%
EPS Next 3Y6.17%
5. TRP.CA Dividend Analysis
5.1 Amount
- TRP has a Yearly Dividend Yield of 4.21%, which is a nice return.
- Compared to an average industry Dividend Yield of 3.82, TRP pays a bit more dividend than its industry peers.
- TRP's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.21% |
5.2 History
- The dividend of TRP has a limited annual growth rate of 0.77%.
- TRP has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)0.77%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
- TRP pays out 106.50% of its income as dividend. This is not a sustainable payout ratio.
- TRP's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP106.5%
EPS Next 2Y4.86%
EPS Next 3Y6.17%
TRP.CA Fundamentals: All Metrics, Ratios and Statistics
TSX:TRP (4/24/2026, 7:00:00 PM)
84.79
+1.36 (+1.63%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-13 2026-02-13/bmo
Earnings (Next)05-01 2026-05-01/bmo
Inst Owners76.44%
Inst Owner ChangeN/A
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap88.33B
Revenue(TTM)15.24B
Net Income(TTM)3.40B
Analysts72.8
Price Target88.31 (4.15%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.21% |
Yearly Dividend3.48
Dividend Growth(5Y)0.77%
DP106.5%
Div Incr Years0
Div Non Decr Years0
Ex-Date03-31 2026-03-31 (0.8775)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.31%
Min EPS beat(2)-4.57%
Max EPS beat(2)5.19%
EPS beat(4)2
Avg EPS beat(4)0.26%
Min EPS beat(4)-4.57%
Max EPS beat(4)5.19%
EPS beat(8)5
Avg EPS beat(8)-3.86%
EPS beat(12)8
Avg EPS beat(12)-0.4%
EPS beat(16)10
Avg EPS beat(16)0.18%
Revenue beat(2)1
Avg Revenue beat(2)-0.21%
Min Revenue beat(2)-0.72%
Max Revenue beat(2)0.31%
Revenue beat(4)3
Avg Revenue beat(4)2.06%
Min Revenue beat(4)-0.72%
Max Revenue beat(4)4.32%
Revenue beat(8)5
Avg Revenue beat(8)-5.88%
Revenue beat(12)7
Avg Revenue beat(12)-3.74%
Revenue beat(16)10
Avg Revenue beat(16)-2.1%
PT rev (1m)1.86%
PT rev (3m)10.5%
EPS NQ rev (1m)-0.6%
EPS NQ rev (3m)-3.72%
EPS NY rev (1m)0.04%
EPS NY rev (3m)-1.89%
Revenue NQ rev (1m)1.71%
Revenue NQ rev (3m)3.28%
Revenue NY rev (1m)0.19%
Revenue NY rev (3m)0.28%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.09 | ||
| Fwd PE | 22.82 | ||
| P/S | 5.8 | ||
| P/FCF | 42.88 | ||
| P/OCF | 12.02 | ||
| P/B | 3.24 | ||
| P/tB | 6.35 | ||
| EV/EBITDA | 15.09 |
EPS(TTM)3.52
EY4.15%
EPS(NY)3.72
Fwd EY4.38%
FCF(TTM)1.98
FCFY2.33%
OCF(TTM)7.05
OCFY8.32%
SpS14.63
BVpS26.2
TBVpS13.35
PEG (NY)4.33
PEG (5Y)N/A
Graham Number45.5538 (-46.27%)
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.86% | ||
| ROE | 12.46% | ||
| ROCE | 6.22% | ||
| ROIC | 5.03% | ||
| ROICexc | 5.11% | ||
| ROICexgc | 5.83% | ||
| OM | 44.37% | ||
| PM (TTM) | 22.31% | ||
| GM | 69.69% | ||
| FCFM | 13.52% |
ROA(3y)3%
ROA(5y)2.26%
ROE(3y)12.89%
ROE(5y)9.2%
ROIC(3y)4.55%
ROIC(5y)4.69%
ROICexc(3y)4.64%
ROICexc(5y)4.76%
ROICexgc(3y)5.28%
ROICexgc(5y)5.43%
ROCE(3y)5.59%
ROCE(5y)5.9%
ROICexgc growth 3Y1.8%
ROICexgc growth 5Y-0.95%
ROICexc growth 3Y1.97%
ROICexc growth 5Y-0.45%
OM growth 3Y3.02%
OM growth 5Y-0.12%
PM growth 3Y73.39%
PM growth 5Y-8.23%
GM growth 3Y1.29%
GM growth 5Y-0.14%
F-Score7
Asset Turnover0.13
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.15 | ||
| Debt/FCF | 29.22 | ||
| Debt/EBITDA | 6.15 | ||
| Cap/Depr | 190.9% | ||
| Cap/Sales | 34.69% | ||
| Interest Coverage | 2.06 | ||
| Cash Conversion | 77.07% | ||
| Profit Quality | 60.59% | ||
| Current Ratio | 0.63 | ||
| Quick Ratio | 0.56 | ||
| Altman-Z | 0.79 |
F-Score7
WACC6.63%
ROIC/WACC0.76
Cap/Depr(3y)237.43%
Cap/Depr(5y)241.5%
Cap/Sales(3y)47.43%
Cap/Sales(5y)46.29%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-5.63%
EPS 3Y-6.45%
EPS 5Y-3.47%
EPS Q2Q%88.46%
EPS Next Y5.57%
EPS Next 2Y4.86%
EPS Next 3Y6.17%
EPS Next 5Y6.14%
Revenue 1Y (TTM)10.66%
Revenue growth 3Y0.58%
Revenue growth 5Y3.23%
Sales Q2Q%206.47%
Revenue Next Year6.53%
Revenue Next 2Y4.47%
Revenue Next 3Y4.8%
Revenue Next 5Y5.68%
EBIT growth 1Y16.87%
EBIT growth 3Y3.61%
EBIT growth 5Y3.1%
EBIT Next Year49.28%
EBIT Next 3Y17.54%
EBIT Next 5Y12.8%
FCF growth 1Y53.96%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-4.55%
OCF growth 3Y4.84%
OCF growth 5Y0.8%
TC ENERGY CORP / TRP.CA Fundamental Analysis FAQ
Can you provide the ChartMill fundamental rating for TC ENERGY CORP?
ChartMill assigns a fundamental rating of 4 / 10 to TRP.CA.
What is the valuation status for TRP stock?
ChartMill assigns a valuation rating of 4 / 10 to TC ENERGY CORP (TRP.CA). This can be considered as Fairly Valued.
Can you provide the profitability details for TC ENERGY CORP?
TC ENERGY CORP (TRP.CA) has a profitability rating of 7 / 10.
Can you provide the PE and PB ratios for TRP stock?
The Price/Earnings (PE) ratio for TC ENERGY CORP (TRP.CA) is 24.09 and the Price/Book (PB) ratio is 3.24.
Can you provide the financial health for TRP stock?
The financial health rating of TC ENERGY CORP (TRP.CA) is 2 / 10.