TC ENERGY CORP (TRP.CA) Fundamental Analysis & Valuation
TSX:TRP • CA87807B1076
Current stock price
88.39 CAD
-0.25 (-0.28%)
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.
- TRP had a positive operating cash flow in the past year.
- In the past 5 years TRP has always been profitable.
- In the past 5 years TRP always reported a positive cash flow from operatings.
1.2 Ratios
- Looking at the Return On Assets, with a value of 2.86%, TRP is in line with its industry, outperforming 59.81% of the companies in the same industry.
- TRP has a Return On Equity of 12.46%. This is amongst the best in the industry. TRP outperforms 84.69% of its industry peers.
- The Return On Invested Capital of TRP (5.03%) is better than 71.29% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for TRP is below the industry average of 6.90%.
- 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
- TRP has a better Profit Margin (22.31%) than 87.56% of its industry peers.
- In the last couple of years the Profit Margin of TRP has declined.
- TRP's Operating Margin of 44.37% is amongst the best of the industry. TRP outperforms 92.82% of its industry peers.
- TRP's Operating Margin has been stable in the last couple of years.
- TRP has a better Gross Margin (69.69%) than 83.73% 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.
- Compared to 1 year ago, TRP has about the same amount of shares outstanding.
- Compared to 5 years ago, TRP has more shares outstanding
- TRP has a worse debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 0.81, we must say that TRP is in the distress zone and has some risk of bankruptcy.
- TRP has a Altman-Z score (0.81) which is in line with its industry peers.
- 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.
- Looking at the Debt to FCF ratio, with a value of 29.22, TRP is in the better half of the industry, outperforming 67.94% of the companies in the same industry.
- TRP has a Debt/Equity ratio of 2.15. This is a high value indicating a heavy dependency on external financing.
- TRP's Debt to Equity ratio of 2.15 is on the low side compared to the rest of the industry. TRP is outperformed by 76.08% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.15 | ||
| Debt/FCF | 29.22 | ||
| Altman-Z | 0.81 |
ROIC/WACC0.76
WACC6.57%
2.3 Liquidity
- A Current Ratio of 0.63 indicates that TRP may have some problems paying its short term obligations.
- TRP has a Current ratio (0.63) which is in line with its industry peers.
- A Quick Ratio of 0.56 indicates that TRP may have some problems paying its short term obligations.
- The Quick ratio of TRP (0.56) is comparable to the rest of the industry.
| 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%.
- The Revenue has been growing slightly by 3.23% on average over the past years.
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 7.15% yearly.
- The Revenue is expected to grow by 4.68% on average over the next years.
EPS Next Y5.57%
EPS Next 2Y4.86%
EPS Next 3Y6.17%
EPS Next 5Y7.15%
Revenue Next Year6.38%
Revenue Next 2Y4.38%
Revenue Next 3Y4.74%
Revenue Next 5Y4.68%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- 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
- A Price/Earnings ratio of 25.11 indicates a quite expensive valuation of TRP.
- Based on the Price/Earnings ratio, TRP is valued a bit cheaper than 62.68% of the companies in the same industry.
- The average S&P500 Price/Earnings ratio is at 26.78. TRP is around the same levels.
- The Price/Forward Earnings ratio is 23.79, which indicates a rather expensive current valuation of TRP.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of TRP indicates a somewhat cheap valuation: TRP is cheaper than 63.64% of the companies listed in the same industry.
- TRP's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 23.54.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.11 | ||
| Fwd PE | 23.79 |
4.2 Price Multiples
- TRP's Enterprise Value to EBITDA is on the same level as the industry average.
- Based on the Price/Free Cash Flow ratio, TRP is valued a bit cheaper than the industry average as 62.68% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 44.7 | ||
| EV/EBITDA | 15.48 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates TRP does not grow enough to justify the current Price/Earnings ratio.
- The decent profitability rating of TRP may justify a higher PE ratio.
PEG (NY)4.51
PEG (5Y)N/A
EPS Next 2Y4.86%
EPS Next 3Y6.17%
5. TRP.CA Dividend Analysis
5.1 Amount
- With a Yearly Dividend Yield of 3.96%, TRP has a reasonable but not impressive dividend return.
- TRP's Dividend Yield is a higher than the industry average which is at 4.58.
- Compared to an average S&P500 Dividend Yield of 1.83, TRP pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.96% |
5.2 History
- The dividend of TRP has a limited annual growth rate of 0.77%.
- TRP has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)0.77%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
- 106.50% of the earnings are spent on dividend by TRP. 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 (4/10/2026, 7:00:00 PM)
88.39
-0.25 (-0.28%)
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 Cap92.08B
Revenue(TTM)15.24B
Net Income(TTM)3.40B
Analysts72.8
Price Target88.31 (-0.09%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.96% |
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)10.77%
EPS NQ rev (1m)-0.42%
EPS NQ rev (3m)-2.98%
EPS NY rev (1m)0.04%
EPS NY rev (3m)-1.98%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.99%
Revenue NY rev (1m)0.06%
Revenue NY rev (3m)0.14%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.11 | ||
| Fwd PE | 23.79 | ||
| P/S | 6.04 | ||
| P/FCF | 44.7 | ||
| P/OCF | 12.53 | ||
| P/B | 3.37 | ||
| P/tB | 6.62 | ||
| EV/EBITDA | 15.48 |
EPS(TTM)3.52
EY3.98%
EPS(NY)3.72
Fwd EY4.2%
FCF(TTM)1.98
FCFY2.24%
OCF(TTM)7.05
OCFY7.98%
SpS14.63
BVpS26.2
TBVpS13.35
PEG (NY)4.51
PEG (5Y)N/A
Graham Number45.55
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 | 0.81 |
F-Score7
WACC6.57%
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 5Y7.15%
Revenue 1Y (TTM)10.66%
Revenue growth 3Y0.58%
Revenue growth 5Y3.23%
Sales Q2Q%206.47%
Revenue Next Year6.38%
Revenue Next 2Y4.38%
Revenue Next 3Y4.74%
Revenue Next 5Y4.68%
EBIT growth 1Y16.87%
EBIT growth 3Y3.61%
EBIT growth 5Y3.1%
EBIT Next Year49.28%
EBIT Next 3Y17.54%
EBIT Next 5Y12.4%
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 25.11 and the Price/Book (PB) ratio is 3.37.
Can you provide the financial health for TRP stock?
The financial health rating of TC ENERGY CORP (TRP.CA) is 2 / 10.