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TC ENERGY CORP - TRPCN 3.351 PERP (TRP-PR-G.CA) Stock Fundamental Analysis

TSX:TRP-PR-G - Toronto Stock Exchange - CA87807B8592 - Currency: CAD

24.55  0 (0%)

Fundamental Rating

4

Taking everything into account, TRP-PR-G scores 4 out of 10 in our fundamental rating. TRP-PR-G was compared to 210 industry peers in the Oil, Gas & Consumable Fuels industry. While TRP-PR-G has a great profitability rating, there are quite some concerns on its financial health. TRP-PR-G has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

In the past year TRP-PR-G was profitable.
In the past year TRP-PR-G had a positive cash flow from operations.
TRP-PR-G had positive earnings in each of the past 5 years.
TRP-PR-G had a positive operating cash flow in each of the past 5 years.
TRP-PR-G.CA Yearly Net Income VS EBIT VS OCF VS FCFTRP-PR-G.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B 6B

1.2 Ratios

TRP-PR-G has a better Return On Assets (3.62%) than 70.00% of its industry peers.
TRP-PR-G has a better Return On Equity (15.78%) than 85.71% of its industry peers.
TRP-PR-G has a Return On Invested Capital (3.94%) which is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for TRP-PR-G is below the industry average of 7.31%.
Industry RankSector Rank
ROA 3.62%
ROE 15.78%
ROIC 3.94%
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-PR-G.CA Yearly ROA, ROE, ROICTRP-PR-G.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 15

1.3 Margins

The Profit Margin of TRP-PR-G (33.22%) is better than 89.05% of its industry peers.
In the last couple of years the Profit Margin of TRP-PR-G has grown nicely.
TRP-PR-G's Operating Margin of 42.10% is amongst the best of the industry. TRP-PR-G outperforms 91.43% of its industry peers.
In the last couple of years the Operating Margin of TRP-PR-G has remained more or less at the same level.
Looking at the Gross Margin, with a value of 68.14%, TRP-PR-G belongs to the top of the industry, outperforming 81.43% of the companies in the same industry.
In the last couple of years the Gross Margin of TRP-PR-G has remained more or less at the same level.
Industry RankSector Rank
OM 42.1%
PM (TTM) 33.22%
GM 68.14%
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-PR-G.CA Yearly Profit, Operating, Gross MarginsTRP-PR-G.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60

1

2. Health

2.1 Basic Checks

TRP-PR-G has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
TRP-PR-G has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, TRP-PR-G has more shares outstanding
The debt/assets ratio for TRP-PR-G has been reduced compared to a year ago.
TRP-PR-G.CA Yearly Shares OutstandingTRP-PR-G.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
TRP-PR-G.CA Yearly Total Debt VS Total AssetsTRP-PR-G.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B 100B

2.2 Solvency

Based on the Altman-Z score of 0.34, we must say that TRP-PR-G is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.34, TRP-PR-G is doing worse than 60.48% of the companies in the same industry.
TRP-PR-G has a debt to FCF ratio of 84.11. This is a negative value and a sign of low solvency as TRP-PR-G would need 84.11 years to pay back of all of its debts.
The Debt to FCF ratio of TRP-PR-G (84.11) is comparable to the rest of the industry.
TRP-PR-G has a Debt/Equity ratio of 2.15. This is a high value indicating a heavy dependency on external financing.
TRP-PR-G has a Debt to Equity ratio of 2.15. This is amonst the worse of the industry: TRP-PR-G underperforms 81.90% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.15
Debt/FCF 84.11
Altman-Z 0.34
ROIC/WACC0.53
WACC7.49%
TRP-PR-G.CA Yearly LT Debt VS Equity VS FCFTRP-PR-G.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B 40B 60B

2.3 Liquidity

TRP-PR-G has a Current Ratio of 0.70. This is a bad value and indicates that TRP-PR-G is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of TRP-PR-G (0.70) is worse than 63.33% of its industry peers.
A Quick Ratio of 0.63 indicates that TRP-PR-G may have some problems paying its short term obligations.
TRP-PR-G has a Quick ratio of 0.63. This is in the lower half of the industry: TRP-PR-G underperforms 64.29% of its industry peers.
Industry RankSector Rank
Current Ratio 0.7
Quick Ratio 0.63
TRP-PR-G.CA Yearly Current Assets VS Current LiabilitesTRP-PR-G.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

3

3. Growth

3.1 Past

The earnings per share for TRP-PR-G have decreased strongly by -24.40% in the last year.
Measured over the past years, TRP-PR-G shows a decrease in Earnings Per Share. The EPS has been decreasing by -2.06% on average per year.
Looking at the last year, TRP-PR-G shows a very negative growth in Revenue. The Revenue has decreased by -19.07% in the last year.
Measured over the past years, TRP-PR-G shows a small growth in Revenue. The Revenue has been growing by 0.77% on average per year.
EPS 1Y (TTM)-24.4%
EPS 3Y-4.48%
EPS 5Y-2.06%
EPS Q2Q%-23.39%
Revenue 1Y (TTM)-19.07%
Revenue growth 3Y0.95%
Revenue growth 5Y0.77%
Sales Q2Q%-14.61%

3.2 Future

The Earnings Per Share is expected to grow by 4.69% on average over the next years.
The Revenue is expected to grow by 3.22% on average over the next years.
EPS Next Y2.08%
EPS Next 2Y4.59%
EPS Next 3Y3.37%
EPS Next 5Y4.69%
Revenue Next Year-7.6%
Revenue Next 2Y0.32%
Revenue Next 3Y1.15%
Revenue Next 5Y3.22%

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.
TRP-PR-G.CA Yearly Revenue VS EstimatesTRP-PR-G.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 5B 10B 15B
TRP-PR-G.CA Yearly EPS VS EstimatesTRP-PR-G.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4 5

6

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 7.14, which indicates a rather cheap valuation of TRP-PR-G.
Compared to the rest of the industry, the Price/Earnings ratio of TRP-PR-G indicates a rather cheap valuation: TRP-PR-G is cheaper than 86.19% of the companies listed in the same industry.
TRP-PR-G is valuated cheaply when we compare the Price/Earnings ratio to 27.91, which is the current average of the S&P500 Index.
TRP-PR-G is valuated cheaply with a Price/Forward Earnings ratio of 6.02.
TRP-PR-G's Price/Forward Earnings ratio is rather cheap when compared to the industry. TRP-PR-G is cheaper than 88.10% of the companies in the same industry.
TRP-PR-G is valuated cheaply when we compare the Price/Forward Earnings ratio to 37.11, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 7.14
Fwd PE 6.02
TRP-PR-G.CA Price Earnings VS Forward Price EarningsTRP-PR-G.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

TRP-PR-G's Enterprise Value to EBITDA ratio is in line with the industry average.
TRP-PR-G's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 34.64
EV/EBITDA 10.02
TRP-PR-G.CA Per share dataTRP-PR-G.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

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-PR-G has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)3.43
PEG (5Y)N/A
EPS Next 2Y4.59%
EPS Next 3Y3.37%

6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 6.42%, TRP-PR-G is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 6.32, TRP-PR-G pays a better dividend. On top of this TRP-PR-G pays more dividend than 91.90% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.32, TRP-PR-G pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.42%

5.2 History

On average, the dividend of TRP-PR-G grows each year by 13.09%, which is quite nice.
TRP-PR-G has been paying a dividend for at least 10 years, so it has a reliable track record.
TRP-PR-G has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)13.09%
Div Incr Years0
Div Non Decr Years3
TRP-PR-G.CA Yearly Dividends per shareTRP-PR-G.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

90.34% of the earnings are spent on dividend by TRP-PR-G. This is not a sustainable payout ratio.
The dividend of TRP-PR-G is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP90.34%
EPS Next 2Y4.59%
EPS Next 3Y3.37%
TRP-PR-G.CA Yearly Income VS Free CF VS DividendTRP-PR-G.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B
TRP-PR-G.CA Dividend Payout.TRP-PR-G.CA Dividend Payout, showing the Payout Ratio.TRP-PR-G.CA Dividend Payout.PayoutRetained Earnings

TC ENERGY CORP - TRPCN 3.351 PERP

TSX:TRP-PR-G (7/29/2025, 7:00:00 PM)

24.55

0 (0%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)05-01 2025-05-01/bmo
Earnings (Next)07-31 2025-07-31/bmo
Inst Owners78.66%
Inst Owner ChangeN/A
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap25.53B
Analysts73.33
Price Target27.63 (12.55%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.42%
Yearly Dividend3.9
Dividend Growth(5Y)13.09%
DP90.34%
Div Incr Years0
Div Non Decr Years3
Ex-Date05-15 2025-05-15 (0.2094375)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-25.85%
Min EPS beat(2)-48.32%
Max EPS beat(2)-3.38%
EPS beat(4)2
Avg EPS beat(4)-10.64%
Min EPS beat(4)-48.32%
Max EPS beat(4)7.33%
EPS beat(8)5
Avg EPS beat(8)-1.64%
EPS beat(12)8
Avg EPS beat(12)-0.13%
EPS beat(16)9
Avg EPS beat(16)0.35%
Revenue beat(2)1
Avg Revenue beat(2)-29.46%
Min Revenue beat(2)-63.24%
Max Revenue beat(2)4.32%
Revenue beat(4)3
Avg Revenue beat(4)-12.67%
Min Revenue beat(4)-63.24%
Max Revenue beat(4)6.32%
Revenue beat(8)5
Avg Revenue beat(8)-6%
Revenue beat(12)8
Avg Revenue beat(12)-2.83%
Revenue beat(16)8
Avg Revenue beat(16)-3.32%
PT rev (1m)-0.22%
PT rev (3m)10.82%
EPS NQ rev (1m)0.72%
EPS NQ rev (3m)-10.17%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0.56%
Revenue NQ rev (3m)1.27%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.62%
Valuation
Industry RankSector Rank
PE 7.14
Fwd PE 6.02
P/S 1.94
P/FCF 34.64
P/OCF 3.62
P/B 0.92
P/tB 1.82
EV/EBITDA 10.02
EPS(TTM)3.44
EY14.01%
EPS(NY)4.08
Fwd EY16.62%
FCF(TTM)0.71
FCFY2.89%
OCF(TTM)6.79
OCFY27.65%
SpS12.65
BVpS26.63
TBVpS13.51
PEG (NY)3.43
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 3.62%
ROE 15.78%
ROCE 5.02%
ROIC 3.94%
ROICexc 4.02%
ROICexgc 4.6%
OM 42.1%
PM (TTM) 33.22%
GM 68.14%
FCFM 5.6%
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%
ROICexcg growth 3Y-4.34%
ROICexcg 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-Score4
Asset Turnover0.11
Health
Industry RankSector Rank
Debt/Equity 2.15
Debt/FCF 84.11
Debt/EBITDA 7.18
Cap/Depr 230.18%
Cap/Sales 48.08%
Interest Coverage 250
Cash Conversion 85.22%
Profit Quality 16.87%
Current Ratio 0.7
Quick Ratio 0.63
Altman-Z 0.34
F-Score4
WACC7.49%
ROIC/WACC0.53
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)-24.4%
EPS 3Y-4.48%
EPS 5Y-2.06%
EPS Q2Q%-23.39%
EPS Next Y2.08%
EPS Next 2Y4.59%
EPS Next 3Y3.37%
EPS Next 5Y4.69%
Revenue 1Y (TTM)-19.07%
Revenue growth 3Y0.95%
Revenue growth 5Y0.77%
Sales Q2Q%-14.61%
Revenue Next Year-7.6%
Revenue Next 2Y0.32%
Revenue Next 3Y1.15%
Revenue Next 5Y3.22%
EBIT growth 1Y-19.58%
EBIT growth 3Y-0.68%
EBIT growth 5Y0%
EBIT Next Year30.13%
EBIT Next 3Y12.83%
EBIT Next 5Y10.98%
FCF growth 1Y267.5%
FCF growth 3Y11.47%
FCF growth 5YN/A
OCF growth 1Y4.72%
OCF growth 3Y3.76%
OCF growth 5Y1.68%