TC ENERGY CORP - TRPCN 8.539 PERP (TRP-PR-L.CA) Fundamental Analysis & Valuation

TSX:TRP-PR-L

21.13 CAD
-0.42 (-1.95%)
Last: Mar 11, 2026, 07:00 PM
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This TRP-PR-L.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

TRP-PR-L gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 212 industry peers in the Oil, Gas & Consumable Fuels industry. TRP-PR-L scores excellent on profitability, but there are concerns on its financial health. TRP-PR-L is valued quite cheap, while showing a decent growth score. This is a good combination!


Dividend Valuation Growth Profitability Health

7

1. TRP-PR-L.CA Profitability Analysis

1.1 Basic Checks

  • TRP-PR-L had positive earnings in the past year.
  • TRP-PR-L had a positive operating cash flow in the past year.
  • In the past 5 years TRP-PR-L has always been profitable.
  • TRP-PR-L had a positive operating cash flow in each of the past 5 years.
TRP-PR-L.CA Yearly Net Income VS EBIT VS OCF VS FCFTRP-PR-L.CA 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 2025 0 2B -2B 4B 6B

1.2 Ratios

  • TRP-PR-L has a Return On Assets of 2.86%. This is in the better half of the industry: TRP-PR-L outperforms 60.48% of its industry peers.
  • TRP-PR-L has a Return On Equity of 12.46%. This is amongst the best in the industry. TRP-PR-L outperforms 87.14% of its industry peers.
  • The Return On Invested Capital of TRP-PR-L (5.03%) is better than 74.76% of its industry peers.
  • TRP-PR-L had an Average Return On Invested Capital over the past 3 years of 4.55%. This is below the industry average of 6.67%.
  • The 3 year average ROIC (4.55%) for TRP-PR-L is below the current ROIC(5.03%), indicating increased profibility in the last year.
Industry RankSector 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%
TRP-PR-L.CA Yearly ROA, ROE, ROICTRP-PR-L.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • With an excellent Profit Margin value of 22.31%, TRP-PR-L belongs to the best of the industry, outperforming 90.00% of the companies in the same industry.
  • In the last couple of years the Profit Margin of TRP-PR-L has declined.
  • The Operating Margin of TRP-PR-L (44.37%) is better than 95.24% of its industry peers.
  • TRP-PR-L's Operating Margin has been stable in the last couple of years.
  • The Gross Margin of TRP-PR-L (69.69%) is better than 87.14% of its industry peers.
  • TRP-PR-L's Gross Margin has been stable in the last couple of years.
Industry RankSector 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%
TRP-PR-L.CA Yearly Profit, Operating, Gross MarginsTRP-PR-L.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. TRP-PR-L.CA Health Analysis

2.1 Basic Checks

  • TRP-PR-L 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-PR-L has about the same amount of shares outstanding.
  • TRP-PR-L has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, TRP-PR-L has a worse debt to assets ratio.
TRP-PR-L.CA Yearly Shares OutstandingTRP-PR-L.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B
TRP-PR-L.CA Yearly Total Debt VS Total AssetsTRP-PR-L.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B

2.2 Solvency

  • Based on the Altman-Z score of 0.36, we must say that TRP-PR-L is in the distress zone and has some risk of bankruptcy.
  • TRP-PR-L has a Altman-Z score of 0.36. This is in the lower half of the industry: TRP-PR-L underperforms 60.00% of its industry peers.
  • TRP-PR-L has a debt to FCF ratio of 29.22. This is a negative value and a sign of low solvency as TRP-PR-L would need 29.22 years to pay back of all of its debts.
  • TRP-PR-L's Debt to FCF ratio of 29.22 is fine compared to the rest of the industry. TRP-PR-L outperforms 70.00% of its industry peers.
  • A Debt/Equity ratio of 2.15 is on the high side and indicates that TRP-PR-L has dependencies on debt financing.
  • TRP-PR-L's Debt to Equity ratio of 2.15 is on the low side compared to the rest of the industry. TRP-PR-L is outperformed by 75.24% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.15
Debt/FCF 29.22
Altman-Z 0.36
ROIC/WACC0.74
WACC6.8%
TRP-PR-L.CA Yearly LT Debt VS Equity VS FCFTRP-PR-L.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B 40B 60B

2.3 Liquidity

  • A Current Ratio of 0.63 indicates that TRP-PR-L may have some problems paying its short term obligations.
  • TRP-PR-L has a Current ratio (0.63) which is in line with its industry peers.
  • A Quick Ratio of 0.56 indicates that TRP-PR-L may have some problems paying its short term obligations.
  • TRP-PR-L has a Quick ratio (0.56) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 0.63
Quick Ratio 0.56
TRP-PR-L.CA Yearly Current Assets VS Current LiabilitesTRP-PR-L.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

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

4

3. TRP-PR-L.CA Growth Analysis

3.1 Past

  • TRP-PR-L shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -5.63%.
  • TRP-PR-L shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -3.47% yearly.
  • The Revenue has grown by 10.66% in the past year. This is quite good.
  • TRP-PR-L shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.23% yearly.
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-PR-L is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.32% yearly.
  • TRP-PR-L is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.39% yearly.
EPS Next Y7.6%
EPS Next 2Y5.87%
EPS Next 3Y6.89%
EPS Next 5Y6.32%
Revenue Next Year5.83%
Revenue Next 2Y4.05%
Revenue Next 3Y5.12%
Revenue Next 5Y4.39%

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-PR-L.CA Yearly Revenue VS EstimatesTRP-PR-L.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5B 10B 15B 20B
TRP-PR-L.CA Yearly EPS VS EstimatesTRP-PR-L.CA 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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9

4. TRP-PR-L.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 6.00, the valuation of TRP-PR-L can be described as very cheap.
  • TRP-PR-L's Price/Earnings ratio is rather cheap when compared to the industry. TRP-PR-L is cheaper than 92.38% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of TRP-PR-L to the average of the S&P500 Index (25.71), we can say TRP-PR-L is valued rather cheaply.
  • TRP-PR-L is valuated cheaply with a Price/Forward Earnings ratio of 5.58.
  • TRP-PR-L's Price/Forward Earnings ratio is rather cheap when compared to the industry. TRP-PR-L is cheaper than 93.81% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 23.82, TRP-PR-L is valued rather cheaply.
Industry RankSector Rank
PE 6
Fwd PE 5.58
TRP-PR-L.CA Price Earnings VS Forward Price EarningsTRP-PR-L.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • 72.38% of the companies in the same industry are more expensive than TRP-PR-L, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, TRP-PR-L is valued cheaper than 86.19% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.68
EV/EBITDA 8.2
TRP-PR-L.CA Per share dataTRP-PR-L.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of TRP-PR-L may justify a higher PE ratio.
PEG (NY)0.79
PEG (5Y)N/A
EPS Next 2Y5.87%
EPS Next 3Y6.89%

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

5

5. TRP-PR-L.CA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.02%, TRP-PR-L is a good candidate for dividend investing.
  • TRP-PR-L's Dividend Yield is a higher than the industry average which is at 4.17.
  • TRP-PR-L's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 4.02%

5.2 History

  • The dividend of TRP-PR-L has a limited annual growth rate of 0.77%.
  • TRP-PR-L has paid a dividend for less than 5 years, so there is no long track record yet.
Dividend Growth(5Y)0.77%
Div Incr Years1
Div Non Decr Years1
TRP-PR-L.CA Yearly Dividends per shareTRP-PR-L.CA Yearly Dividends per shareYearly Dividends per share 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • 106.50% of the earnings are spent on dividend by TRP-PR-L. This is not a sustainable payout ratio.
  • TRP-PR-L's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP106.5%
EPS Next 2Y5.87%
EPS Next 3Y6.89%
TRP-PR-L.CA Yearly Income VS Free CF VS DividendTRP-PR-L.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B
TRP-PR-L.CA Dividend Payout.TRP-PR-L.CA Dividend Payout, showing the Payout Ratio.TRP-PR-L.CA Dividend Payout.PayoutRetained Earnings

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TRP-PR-L.CA Fundamentals: All Metrics, Ratios and Statistics

TC ENERGY CORP - TRPCN 8.539 PERP

TSX:TRP-PR-L (3/11/2026, 7:00:00 PM)

21.13

-0.42 (-1.95%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-13
Earnings (Next)04-29
Inst Owners76.43%
Inst Owner ChangeN/A
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap22.00B
Revenue(TTM)15.24B
Net Income(TTM)3.40B
Analysts72.8
Price Target21.28 (0.71%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.02%
Yearly Dividend3.48
Dividend Growth(5Y)0.77%
DP106.5%
Div Incr Years1
Div Non Decr Years1
Ex-Date03-31
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)0%
PT rev (3m)0%
EPS NQ rev (1m)-2.56%
EPS NQ rev (3m)-2.56%
EPS NY rev (1m)-0.1%
EPS NY rev (3m)-1.16%
Revenue NQ rev (1m)1.99%
Revenue NQ rev (3m)1.99%
Revenue NY rev (1m)-0.38%
Revenue NY rev (3m)-0.13%
Valuation
Industry RankSector Rank
PE 6
Fwd PE 5.58
P/S 1.44
P/FCF 10.68
P/OCF 2.99
P/B 0.81
P/tB 1.58
EV/EBITDA 8.2
EPS(TTM)3.52
EY16.66%
EPS(NY)3.79
Fwd EY17.92%
FCF(TTM)1.98
FCFY9.37%
OCF(TTM)7.06
OCFY33.4%
SpS14.64
BVpS26.22
TBVpS13.36
PEG (NY)0.79
PEG (5Y)N/A
Graham Number45.57
Profitability
Industry RankSector 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)4.65%
ROICexc(5y)4.76%
ROICexgc(3y)5.29%
ROICexgc(5y)5.43%
ROCE(3y)5.6%
ROCE(5y)5.9%
ROICexgc growth 3Y1.8%
ROICexgc growth 5Y-0.89%
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 RankSector 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 0.36
F-Score7
WACC6.8%
ROIC/WACC0.74
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 Y7.6%
EPS Next 2Y5.87%
EPS Next 3Y6.89%
EPS Next 5Y6.32%
Revenue 1Y (TTM)10.66%
Revenue growth 3Y0.58%
Revenue growth 5Y3.23%
Sales Q2Q%206.47%
Revenue Next Year5.83%
Revenue Next 2Y4.05%
Revenue Next 3Y5.12%
Revenue Next 5Y4.39%
EBIT growth 1Y16.87%
EBIT growth 3Y3.61%
EBIT growth 5Y3.1%
EBIT Next Year49.22%
EBIT Next 3Y17.43%
EBIT Next 5Y11.89%
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 - TRPCN 8.539 PERP / TRP-PR-L.CA FAQ

What is the ChartMill fundamental rating of TC ENERGY CORP - TRPCN 8.539 PERP (TRP-PR-L.CA) stock?

ChartMill assigns a fundamental rating of 5 / 10 to TRP-PR-L.CA.


Can you provide the valuation status for TC ENERGY CORP - TRPCN 8.539 PERP?

ChartMill assigns a valuation rating of 8 / 10 to TC ENERGY CORP - TRPCN 8.539 PERP (TRP-PR-L.CA). This can be considered as Undervalued.


Can you provide the profitability details for TC ENERGY CORP - TRPCN 8.539 PERP?

TC ENERGY CORP - TRPCN 8.539 PERP (TRP-PR-L.CA) has a profitability rating of 7 / 10.


What is the financial health of TC ENERGY CORP - TRPCN 8.539 PERP (TRP-PR-L.CA) stock?

The financial health rating of TC ENERGY CORP - TRPCN 8.539 PERP (TRP-PR-L.CA) is 2 / 10.


Can you provide the expected EPS growth for TRP-PR-L stock?

The Earnings per Share (EPS) of TC ENERGY CORP - TRPCN 8.539 PERP (TRP-PR-L.CA) is expected to grow by 7.6% in the next year.