TC ENERGY CORP (TRP) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:TRP • CA87807B1076

59.77 USD
-0.51 (-0.85%)
At close: Feb 10, 2026
59.98 USD
+0.21 (+0.35%)
After Hours: 2/10/2026, 8:04:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

3

Overall TRP gets a fundamental rating of 3 out of 10. We evaluated TRP against 206 industry peers in the Oil, Gas & Consumable Fuels industry. While TRP is still in line with the averages on profitability rating, there are concerns on its financial health. TRP is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • TRP had positive earnings in the past year.
  • TRP had a positive operating cash flow in the past year.
  • 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.
TRP Yearly Net Income VS EBIT VS OCF VS FCFTRP Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B 6B

1.2 Ratios

  • With a Return On Assets value of 2.82%, TRP perfoms like the industry average, outperforming 47.09% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 12.35%, TRP is in the better half of the industry, outperforming 69.90% of the companies in the same industry.
  • TRP has a Return On Invested Capital of 3.97%. This is in the lower half of the industry: TRP underperforms 63.11% of its industry peers.
  • TRP had an Average Return On Invested Capital over the past 3 years of 4.35%. This is significantly below the industry average of 22.01%.
Industry RankSector Rank
ROA 2.82%
ROE 12.35%
ROIC 3.97%
ROA(3y)2.24%
ROA(5y)2.58%
ROE(3y)9.37%
ROE(5y)9.55%
ROIC(3y)4.35%
ROIC(5y)4.58%
TRP Yearly ROA, ROE, ROICTRP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

  • With an excellent Profit Margin value of 27.28%, TRP belongs to the best of the industry, outperforming 84.95% of the companies in the same industry.
  • In the last couple of years the Profit Margin of TRP has grown nicely.
  • The Operating Margin of TRP (44.41%) is better than 89.81% of its industry peers.
  • TRP's Operating Margin has been stable in the last couple of years.
  • TRP has a better Gross Margin (69.05%) than 77.18% of its industry peers.
  • In the last couple of years the Gross Margin of TRP has remained more or less at the same level.
Industry RankSector Rank
OM 44.41%
PM (TTM) 27.28%
GM 69.05%
OM growth 3Y-1.61%
OM growth 5Y-0.76%
PM growth 3Y35%
PM growth 5Y2.15%
GM growth 3Y-0.69%
GM growth 5Y-0.74%
TRP Yearly Profit, Operating, Gross MarginsTRP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. Health

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.
  • TRP has more shares outstanding than it did 5 years ago.
  • TRP has a better debt/assets ratio than last year.
TRP Yearly Shares OutstandingTRP Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
TRP Yearly Total Debt VS Total AssetsTRP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B 100B

2.2 Solvency

  • Based on the Altman-Z score of 0.69, we must say that TRP is in the distress zone and has some risk of bankruptcy.
  • TRP has a Altman-Z score of 0.69. This is in the lower half of the industry: TRP underperforms 60.68% of its industry peers.
  • TRP has a debt to FCF ratio of 31.45. This is a negative value and a sign of low solvency as TRP would need 31.45 years to pay back of all of its debts.
  • TRP has a Debt to FCF ratio (31.45) which is in line with its industry peers.
  • TRP has a Debt/Equity ratio of 2.13. This is a high value indicating a heavy dependency on external financing.
  • The Debt to Equity ratio of TRP (2.13) is worse than 80.58% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.13
Debt/FCF 31.45
Altman-Z 0.69
ROIC/WACC0.61
WACC6.56%
TRP Yearly LT Debt VS Equity VS FCFTRP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B 40B 60B

2.3 Liquidity

  • A Current Ratio of 0.63 indicates that TRP may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.63, TRP is doing worse than 76.21% 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 on the low side compared to the rest of the industry. TRP is outperformed by 76.70% of its industry peers.
Industry RankSector Rank
Current Ratio 0.63
Quick Ratio 0.56
TRP Yearly Current Assets VS Current LiabilitesTRP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • TRP shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -32.89%.
  • The Earnings Per Share has been decreasing by -2.06% on average over the past years.
  • TRP shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -25.33%.
  • TRP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.77% yearly.
EPS 1Y (TTM)-32.89%
EPS 3Y-4.48%
EPS 5Y-2.06%
EPS Q2Q%-25.24%
Revenue 1Y (TTM)-25.33%
Revenue growth 3Y0.95%
Revenue growth 5Y0.77%
Sales Q2Q%-9.28%

3.2 Future

  • TRP is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.33% yearly.
  • TRP is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.71% yearly.
EPS Next Y-5.65%
EPS Next 2Y0.77%
EPS Next 3Y1.89%
EPS Next 5Y3.33%
Revenue Next Year-3.6%
Revenue Next 2Y1.19%
Revenue Next 3Y1.77%
Revenue Next 5Y2.71%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
TRP Yearly Revenue VS EstimatesTRP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5B 10B 15B 20B
TRP Yearly EPS VS EstimatesTRP Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 1 2 3 4 5

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Find the best growth stocksShow best growing peers

2

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 26.56 indicates a quite expensive valuation of TRP.
  • The rest of the industry has a similar Price/Earnings ratio as TRP.
  • TRP is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 28.03, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 21.47, the valuation of TRP can be described as rather expensive.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of TRP is on the same level as its industry peers.
  • TRP's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.97.
Industry RankSector Rank
PE 26.56
Fwd PE 21.47
TRP Price Earnings VS Forward Price EarningsTRP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • 67.48% of the companies in the same industry are cheaper than TRP, based on the Enterprise Value to EBITDA ratio.
  • TRP's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 43.4
EV/EBITDA 17.28
TRP Per share dataTRP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • The decent profitability rating of TRP may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y0.77%
EPS Next 3Y1.89%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • TRP has a Yearly Dividend Yield of 4.15%, which is a nice return.
  • Compared to an average industry Dividend Yield of 3.64, TRP pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.80, TRP pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.15%

5.2 History

  • The dividend of TRP is nicely growing with an annual growth rate of 13.09%!
  • TRP has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)13.09%
Div Incr Years0
Div Non Decr Years0
TRP Yearly Dividends per shareTRP Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3 4 5

5.3 Sustainability

  • 110.00% of the earnings are spent on dividend by TRP. This is not a sustainable payout ratio.
  • TRP's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP110%
EPS Next 2Y0.77%
EPS Next 3Y1.89%
TRP Yearly Income VS Free CF VS DividendTRP Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B
TRP Dividend Payout.TRP Dividend Payout, showing the Payout Ratio.TRP Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

TC ENERGY CORP

NYSE:TRP (2/10/2026, 8:04:00 PM)

After market: 59.98 +0.21 (+0.35%)

59.77

-0.51 (-0.85%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)11-06
Earnings (Next)02-13
Inst Owners83.73%
Inst Owner Change-1.21%
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap62.22B
Revenue(TTM)12.43B
Net Income(TTM)3.39B
Analysts74.4
Price Target58.67 (-1.84%)
Short Float %2.12%
Short Ratio10.29
Dividend
Industry RankSector Rank
Dividend Yield 4.15%
Yearly Dividend2.86
Dividend Growth(5Y)13.09%
DP110%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.38%
Min EPS beat(2)-4.57%
Max EPS beat(2)3.8%
EPS beat(4)1
Avg EPS beat(4)-13.12%
Min EPS beat(4)-48.32%
Max EPS beat(4)3.8%
EPS beat(8)5
Avg EPS beat(8)-1.97%
EPS beat(12)7
Avg EPS beat(12)-0.86%
EPS beat(16)9
Avg EPS beat(16)-0.26%
Revenue beat(2)1
Avg Revenue beat(2)1.8%
Min Revenue beat(2)-0.72%
Max Revenue beat(2)4.32%
Revenue beat(4)2
Avg Revenue beat(4)-13.83%
Min Revenue beat(4)-63.24%
Max Revenue beat(4)4.32%
Revenue beat(8)4
Avg Revenue beat(8)-5.97%
Revenue beat(12)7
Avg Revenue beat(12)-3.33%
Revenue beat(16)9
Avg Revenue beat(16)-2.19%
PT rev (1m)1.47%
PT rev (3m)7.72%
EPS NQ rev (1m)-5.5%
EPS NQ rev (3m)-7.04%
EPS NY rev (1m)-0.41%
EPS NY rev (3m)-2.1%
Revenue NQ rev (1m)0.17%
Revenue NQ rev (3m)0.19%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.31%
Valuation
Industry RankSector Rank
PE 26.56
Fwd PE 21.47
P/S 6.81
P/FCF 43.4
P/OCF 11.24
P/B 3.08
P/tB 5.94
EV/EBITDA 17.28
EPS(TTM)2.25
EY3.76%
EPS(NY)2.78
Fwd EY4.66%
FCF(TTM)1.38
FCFY2.3%
OCF(TTM)5.32
OCFY8.9%
SpS8.78
BVpS19.39
TBVpS10.05
PEG (NY)N/A
PEG (5Y)N/A
Graham Number31.33
Profitability
Industry RankSector Rank
ROA 2.82%
ROE 12.35%
ROCE 5.11%
ROIC 3.97%
ROICexc 4.05%
ROICexgc 4.62%
OM 44.41%
PM (TTM) 27.28%
GM 69.05%
FCFM 15.69%
ROA(3y)2.24%
ROA(5y)2.58%
ROE(3y)9.37%
ROE(5y)9.55%
ROIC(3y)4.35%
ROIC(5y)4.58%
ROICexc(3y)4.42%
ROICexc(5y)4.65%
ROICexgc(3y)5.04%
ROICexgc(5y)5.34%
ROCE(3y)5.6%
ROCE(5y)5.97%
ROICexgc growth 3Y-4.34%
ROICexgc growth 5Y-4.28%
ROICexc growth 3Y-4.22%
ROICexc growth 5Y-3.48%
OM growth 3Y-1.61%
OM growth 5Y-0.76%
PM growth 3Y35%
PM growth 5Y2.15%
GM growth 3Y-0.69%
GM growth 5Y-0.74%
F-Score5
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 2.13
Debt/FCF 31.45
Debt/EBITDA 7.13
Cap/Depr 207.7%
Cap/Sales 44.93%
Interest Coverage 250
Cash Conversion 91.8%
Profit Quality 57.53%
Current Ratio 0.63
Quick Ratio 0.56
Altman-Z 0.69
F-Score5
WACC6.56%
ROIC/WACC0.61
Cap/Depr(3y)260.57%
Cap/Depr(5y)266.14%
Cap/Sales(3y)50.84%
Cap/Sales(5y)51.87%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-32.89%
EPS 3Y-4.48%
EPS 5Y-2.06%
EPS Q2Q%-25.24%
EPS Next Y-5.65%
EPS Next 2Y0.77%
EPS Next 3Y1.89%
EPS Next 5Y3.33%
Revenue 1Y (TTM)-25.33%
Revenue growth 3Y0.95%
Revenue growth 5Y0.77%
Sales Q2Q%-9.28%
Revenue Next Year-3.6%
Revenue Next 2Y1.19%
Revenue Next 3Y1.77%
Revenue Next 5Y2.71%
EBIT growth 1Y-20.42%
EBIT growth 3Y-0.68%
EBIT growth 5Y0%
EBIT Next Year29.76%
EBIT Next 3Y13.14%
EBIT Next 5Y9.48%
FCF growth 1Y359.1%
FCF growth 3Y11.47%
FCF growth 5YN/A
OCF growth 1Y1.39%
OCF growth 3Y3.76%
OCF growth 5Y1.68%

TC ENERGY CORP / TRP FAQ

Can you provide the ChartMill fundamental rating for TC ENERGY CORP?

ChartMill assigns a fundamental rating of 3 / 10 to TRP.


What is the valuation status for TRP stock?

ChartMill assigns a valuation rating of 2 / 10 to TC ENERGY CORP (TRP). This can be considered as Overvalued.


How profitable is TC ENERGY CORP (TRP) stock?

TC ENERGY CORP (TRP) has a profitability rating of 6 / 10.


What is the earnings growth outlook for TC ENERGY CORP?

The Earnings per Share (EPS) of TC ENERGY CORP (TRP) is expected to decline by -5.65% in the next year.


Can you provide the dividend sustainability for TRP stock?

The dividend rating of TC ENERGY CORP (TRP) is 5 / 10 and the dividend payout ratio is 110%.