TC ENERGY CORP (TRP.CA) Fundamental Analysis & Valuation
TSX:TRP • CA87807B1076
Current stock price
84.79 CAD
+1.36 (+1.63%)
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.
- TRP had positive earnings in each of the past 5 years.
- In the past 5 years TRP always reported a positive cash flow from operatings.
1.2 Ratios
- TRP has a Return On Assets (2.86%) which is in line with its industry peers.
- With an excellent Return On Equity value of 12.46%, TRP belongs to the best of the industry, outperforming 84.47% of the companies in the same industry.
- Looking at the Return On Invested Capital, with a value of 5.03%, TRP is in the better half of the industry, outperforming 71.84% of the companies in the same industry.
- Measured over the past 3 years, the Average Return On Invested Capital for TRP is below the industry average of 6.84%.
- The last Return On Invested Capital (5.03%) for TRP is above the 3 year average (4.55%), which is a sign of increasing profitability.
| 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
- Looking at the Profit Margin, with a value of 22.31%, TRP belongs to the top of the industry, outperforming 86.89% of the companies in the same industry.
- In the last couple of years the Profit Margin of TRP has declined.
- TRP has a Operating Margin of 44.37%. This is amongst the best in the industry. TRP outperforms 92.72% of its industry peers.
- TRP's Operating Margin has been stable in the last couple of years.
- Looking at the Gross Margin, with a value of 69.69%, TRP belongs to the top of the industry, outperforming 84.47% 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 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.
- TRP has about the same amout of shares outstanding than it did 1 year ago.
- The number of shares outstanding for TRP has been increased compared to 5 years ago.
- Compared to 1 year ago, TRP has a worse debt to assets ratio.
2.2 Solvency
- TRP has an Altman-Z score of 0.79. This is a bad value and indicates that TRP is not financially healthy and even has some risk of bankruptcy.
- TRP has a Altman-Z score (0.79) which is comparable to the rest of the industry.
- 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 67.96% of the companies in the same industry.
- A Debt/Equity ratio of 2.15 is on the high side and indicates that TRP has dependencies on debt 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 76.70% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.15 | ||
| Debt/FCF | 29.22 | ||
| Altman-Z | 0.79 |
ROIC/WACC0.76
WACC6.63%
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.
- 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.
- 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%.
- Measured over the past years, TRP shows a decrease in Earnings Per Share. The EPS has been decreasing by -3.47% on average per year.
- Looking at the last year, TRP shows a quite strong growth in Revenue. The Revenue has grown by 10.66% in the last year.
- Measured over the past years, TRP shows a small growth in Revenue. The Revenue has been growing by 3.23% on average per year.
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
- Based on estimates for the next years, TRP will show a small growth in Earnings Per Share. The EPS will grow by 6.14% on average per year.
- The Revenue is expected to grow by 5.68% on average over the next years.
EPS Next Y5.57%
EPS Next 2Y4.86%
EPS Next 3Y6.17%
EPS Next 5Y6.14%
Revenue Next Year6.53%
Revenue Next 2Y4.47%
Revenue Next 3Y4.8%
Revenue Next 5Y5.68%
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.
- 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.
4. TRP.CA Valuation Analysis
4.1 Price/Earnings Ratio
- Based on the Price/Earnings ratio of 24.09, the valuation of TRP can be described as rather expensive.
- Based on the Price/Earnings ratio, TRP is valued a bit cheaper than the industry average as 63.11% of the companies are valued more expensively.
- TRP is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.42, which is the current average of the S&P500 Index.
- A Price/Forward Earnings ratio of 22.82 indicates a rather expensive valuation of TRP.
- Based on the Price/Forward Earnings ratio, TRP is valued a bit cheaper than 63.59% of the companies in the same industry.
- TRP is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.24, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.09 | ||
| Fwd PE | 22.82 |
4.2 Price Multiples
- TRP's Enterprise Value to EBITDA is on the same level as the industry average.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of TRP indicates a somewhat cheap valuation: TRP is cheaper than 63.11% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 42.88 | ||
| EV/EBITDA | 15.09 |
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.
- TRP has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)4.33
PEG (5Y)N/A
EPS Next 2Y4.86%
EPS Next 3Y6.17%
5. TRP.CA Dividend Analysis
5.1 Amount
- TRP has a Yearly Dividend Yield of 4.21%, which is a nice return.
- Compared to an average industry Dividend Yield of 3.82, TRP pays a bit more dividend than its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.81, TRP pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.21% |
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
- TRP pays out 106.50% of its income as dividend. 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 (4/24/2026, 7:00:00 PM)
84.79
+1.36 (+1.63%)
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 Cap88.33B
Revenue(TTM)15.24B
Net Income(TTM)3.40B
Analysts72.8
Price Target88.31 (4.15%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.21% |
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)10.5%
EPS NQ rev (1m)-0.6%
EPS NQ rev (3m)-3.72%
EPS NY rev (1m)0.04%
EPS NY rev (3m)-1.89%
Revenue NQ rev (1m)1.71%
Revenue NQ rev (3m)3.28%
Revenue NY rev (1m)0.19%
Revenue NY rev (3m)0.28%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.09 | ||
| Fwd PE | 22.82 | ||
| P/S | 5.8 | ||
| P/FCF | 42.88 | ||
| P/OCF | 12.02 | ||
| P/B | 3.24 | ||
| P/tB | 6.35 | ||
| EV/EBITDA | 15.09 |
EPS(TTM)3.52
EY4.15%
EPS(NY)3.72
Fwd EY4.38%
FCF(TTM)1.98
FCFY2.33%
OCF(TTM)7.05
OCFY8.32%
SpS14.63
BVpS26.2
TBVpS13.35
PEG (NY)4.33
PEG (5Y)N/A
Graham Number45.5538 (-46.27%)
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 | 0.79 |
F-Score7
WACC6.63%
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 5Y6.14%
Revenue 1Y (TTM)10.66%
Revenue growth 3Y0.58%
Revenue growth 5Y3.23%
Sales Q2Q%206.47%
Revenue Next Year6.53%
Revenue Next 2Y4.47%
Revenue Next 3Y4.8%
Revenue Next 5Y5.68%
EBIT growth 1Y16.87%
EBIT growth 3Y3.61%
EBIT growth 5Y3.1%
EBIT Next Year49.28%
EBIT Next 3Y17.54%
EBIT Next 5Y12.8%
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 24.09 and the Price/Book (PB) ratio is 3.24.
Can you provide the financial health for TRP stock?
The financial health rating of TC ENERGY CORP (TRP.CA) is 2 / 10.