TC ENERGY CORP (TRP) Stock Fundamental Analysis

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

59.91 USD
+0.62 (+1.05%)
At close: Feb 5, 2026
59.9 USD
-0.01 (-0.02%)
Pre-Market: 2/6/2026, 8:01:17 AM
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to TRP. TRP was compared to 207 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 does not seem to be growing, but still is valued expensively.


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.
  • Each year in the past 5 years TRP has been profitable.
  • 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

  • Looking at the Return On Assets, with a value of 2.82%, TRP is in line with its industry, outperforming 46.86% of the companies in the same industry.
  • With a decent Return On Equity value of 12.35%, TRP is doing good in the industry, outperforming 70.05% of the companies in the same industry.
  • With a Return On Invested Capital value of 3.97%, TRP is not doing good in the industry: 63.28% of the companies in the same industry are doing better.
  • The Average Return On Invested Capital over the past 3 years for TRP is significantly below the industry average of 21.95%.
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

  • TRP's Profit Margin of 27.28% is amongst the best of the industry. TRP outperforms 85.02% of its industry peers.
  • TRP's Profit Margin has improved in the last couple of years.
  • TRP has a better Operating Margin (44.41%) than 89.86% of its industry peers.
  • In the last couple of years the Operating Margin of TRP has remained more or less at the same level.
  • Looking at the Gross Margin, with a value of 69.05%, TRP is in the better half of the industry, outperforming 76.81% of the companies in the same industry.
  • 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

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so TRP is destroying value.
  • TRP has about the same amout of shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, TRP has more shares outstanding
  • Compared to 1 year ago, TRP has an improved debt to assets ratio.
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.
  • With a Altman-Z score value of 0.69, TRP perfoms like the industry average, outperforming 40.58% of the companies in the same industry.
  • The Debt to FCF ratio of TRP is 31.45, which is on the high side as it means it would take TRP, 31.45 years of fcf income to pay off all of its debts.
  • TRP has a Debt to FCF ratio (31.45) which is comparable to the rest of the industry.
  • A Debt/Equity ratio of 2.13 is on the high side and indicates that TRP has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 2.13, TRP is doing worse than 80.68% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 2.13
Debt/FCF 31.45
Altman-Z 0.69
ROIC/WACC0.52
WACC7.59%
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

  • 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.
  • With a Current ratio value of 0.63, TRP is not doing good in the industry: 75.85% of the companies in the same industry are doing better.
  • TRP has a Quick 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 Quick ratio, with a value of 0.56, TRP is doing worse than 76.33% of the companies in the same industry.
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%.
  • Measured over the past years, TRP shows a decrease in Earnings Per Share. The EPS has been decreasing by -2.06% on average per year.
  • The Revenue for TRP has decreased by -25.33% in the past year. This is quite bad
  • 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

  • Based on estimates for the next years, TRP will show a small growth in Earnings Per Share. The EPS will grow by 3.33% on average per year.
  • The Revenue is expected to grow by 2.71% on average over the next years.
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

  • 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.
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

  • The Price/Earnings ratio is 26.75, which means the current valuation is very expensive for TRP.
  • The rest of the industry has a similar Price/Earnings ratio as TRP.
  • When comparing the Price/Earnings ratio of TRP to the average of the S&P500 Index (27.67), we can say TRP is valued inline with the index average.
  • Based on the Price/Forward Earnings ratio of 21.64, the valuation of TRP can be described as rather expensive.
  • TRP's Price/Forward Earnings is on the same level as the industry average.
  • When comparing the Price/Forward Earnings ratio of TRP to the average of the S&P500 Index (27.20), we can say TRP is valued slightly cheaper.
Industry RankSector Rank
PE 26.75
Fwd PE 21.64
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

  • Based on the Enterprise Value to EBITDA ratio, TRP is valued a bit more expensive than the industry average as 67.63% of the companies are valued more cheaply.
  • TRP's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 43.74
EV/EBITDA 17.27
TRP Per share dataTRP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • TRP has a very decent profitability rating, which 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 4.26%, which is a nice return.
  • TRP's Dividend Yield is a higher than the industry average which is at 3.65.
  • Compared to an average S&P500 Dividend Yield of 1.82, TRP pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.26%

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

  • TRP pays out 110.00% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of TRP is growing, but the earnings are growing slower. 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 (2/5/2026, 8:04:00 PM)

Premarket: 59.9 -0.01 (-0.02%)

59.91

+0.62 (+1.05%)

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 Cap62.37B
Revenue(TTM)12.43B
Net Income(TTM)3.39B
Analysts74.4
Price Target57.62 (-3.82%)
Short Float %2.12%
Short Ratio10.29
Dividend
Industry RankSector Rank
Dividend Yield 4.26%
Yearly Dividend2.89
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)-0.33%
PT rev (3m)5.8%
EPS NQ rev (1m)-1.57%
EPS NQ rev (3m)-3.34%
EPS NY rev (1m)-0.41%
EPS NY rev (3m)-3.25%
Revenue NQ rev (1m)0.12%
Revenue NQ rev (3m)0.14%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.27%
Valuation
Industry RankSector Rank
PE 26.75
Fwd PE 21.64
P/S 6.87
P/FCF 43.74
P/OCF 11.32
P/B 3.11
P/tB 5.99
EV/EBITDA 17.27
EPS(TTM)2.24
EY3.74%
EPS(NY)2.77
Fwd EY4.62%
FCF(TTM)1.37
FCFY2.29%
OCF(TTM)5.29
OCFY8.83%
SpS8.73
BVpS19.28
TBVpS10
PEG (NY)N/A
PEG (5Y)N/A
Graham Number31.17
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
WACC7.59%
ROIC/WACC0.52
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%.