TC ENERGY CORP (TRP.CA) Fundamental Analysis & Valuation
TSX:TRP • CA87807B1076
Current stock price
90.63 CAD
-0.45 (-0.49%)
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.
- In the past year TRP had a positive cash flow from operations.
- Each year in the past 5 years TRP has been profitable.
- In the past 5 years TRP always reported a positive cash flow from operatings.
1.2 Ratios
- With a Return On Assets value of 2.86%, TRP perfoms like the industry average, outperforming 59.11% of the companies in the same industry.
- TRP has a Return On Equity of 12.46%. This is amongst the best in the industry. TRP outperforms 84.73% of its industry peers.
- TRP has a better Return On Invested Capital (5.03%) than 71.92% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for TRP is below the industry average of 6.97%.
- 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
- With an excellent Profit Margin value of 22.31%, TRP belongs to the best of the industry, outperforming 87.19% of the companies in the same industry.
- TRP's Profit Margin has declined in the last couple of years.
- With an excellent Operating Margin value of 44.37%, TRP belongs to the best of the industry, outperforming 93.10% of the companies in the same industry.
- In the last couple of years the Operating Margin of TRP has remained more or less at the same level.
- TRP has a better Gross Margin (69.69%) than 84.24% 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 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
- With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), TRP is destroying value.
- The number of shares outstanding for TRP remains at a similar level compared to 1 year ago.
- Compared to 5 years ago, TRP has more shares outstanding
- TRP has a worse debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 0.83, we must say that TRP is in the distress zone and has some risk of bankruptcy.
- TRP's Altman-Z score of 0.83 is in line compared to the rest of the industry. TRP outperforms 54.68% of its industry peers.
- TRP has a debt to FCF ratio of 29.22. This is a negative value and a sign of low solvency as TRP would need 29.22 years to pay back of all of its debts.
- With a decent Debt to FCF ratio value of 29.22, TRP is doing good in the industry, outperforming 68.47% of the companies in the same industry.
- TRP has a Debt/Equity ratio of 2.15. This is a high value indicating a heavy dependency on external financing.
- The Debt to Equity ratio of TRP (2.15) is worse than 77.34% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.15 | ||
| Debt/FCF | 29.22 | ||
| Altman-Z | 0.83 |
ROIC/WACC0.75
WACC6.69%
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.
- TRP has a Current ratio (0.63) which is comparable to the rest of the industry.
- A Quick Ratio of 0.56 indicates that TRP may have some problems paying its short term obligations.
- Looking at the Quick ratio, with a value of 0.56, TRP is in line with its industry, outperforming 46.80% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.63 | ||
| Quick Ratio | 0.56 |
3. TRP.CA Growth Analysis
3.1 Past
- TRP shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.11%.
- TRP shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -3.47% yearly.
- Looking at the last year, TRP shows a quite strong growth in Revenue. The Revenue has grown by 10.66% in the last year.
- The Revenue has been growing slightly by 3.23% on average over the past years.
EPS 1Y (TTM)3.11%
EPS 3Y-6.45%
EPS 5Y-3.47%
EPS Q2Q%2.85%
Revenue 1Y (TTM)10.66%
Revenue growth 3Y0.58%
Revenue growth 5Y3.23%
Sales Q2Q%5.43%
3.2 Future
- The Earnings Per Share is expected to grow by 6.14% on average over the next years.
- Based on estimates for the next years, TRP will show a small growth in Revenue. The Revenue will grow by 5.68% on average per year.
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
- 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.
4. TRP.CA Valuation Analysis
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 25.53 indicates a quite expensive valuation of TRP.
- Based on the Price/Earnings ratio, TRP is valued a bit cheaper than 61.58% of the companies in the same industry.
- TRP is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.64, which is the current average of the S&P500 Index.
- A Price/Forward Earnings ratio of 23.42 indicates a rather expensive valuation of TRP.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of TRP indicates a somewhat cheap valuation: TRP is cheaper than 64.53% of the companies listed in the same industry.
- When comparing the Price/Forward Earnings ratio of TRP to the average of the S&P500 Index (21.36), we can say TRP is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.53 | ||
| Fwd PE | 23.42 |
4.2 Price Multiples
- TRP's Enterprise Value to EBITDA is on the same level as the industry average.
- 63.05% of the companies in the same industry are more expensive than TRP, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 45.83 | ||
| EV/EBITDA | 15.73 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
- The decent profitability rating of TRP may justify a higher PE ratio.
PEG (NY)4.59
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 3.85%. Purely for dividend investing, there may be better candidates out there.
- Compared to an average industry Dividend Yield of 3.11, 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 Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.85% |
5.2 History
- The dividend of TRP has a limited annual growth rate of 0.77%.
- TRP has been paying a dividend for at least 10 years, so it has 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.
- The dividend of TRP is growing, but earnings are growing more, so the dividend growth is sustainable.
DP106.5%
EPS Next 2Y4.86%
EPS Next 3Y6.17%
TRP.CA Fundamentals: All Metrics, Ratios and Statistics
TSX:TRP (5/1/2026, 7:00:00 PM)
90.63
-0.45 (-0.49%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Industry Strength57.48
Industry Growth80.6
Earnings (Last)05-01 2026-05-01/bmo
Earnings (Next)07-29 2026-07-29/bmo
Inst Owners76.44%
Inst Owner ChangeN/A
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap94.41B
Revenue(TTM)15.24B
Net Income(TTM)3.40B
Analysts72.8
Price Target89.53 (-1.21%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.85% |
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)2.39%
PT rev (3m)12.04%
EPS NQ rev (1m)-2.21%
EPS NQ rev (3m)-5.42%
EPS NY rev (1m)0.04%
EPS NY rev (3m)-1.89%
Revenue NQ rev (1m)2.77%
Revenue NQ rev (3m)4.36%
Revenue NY rev (1m)0.13%
Revenue NY rev (3m)0.28%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.53 | ||
| Fwd PE | 23.42 | ||
| P/S | 6.2 | ||
| P/FCF | 45.83 | ||
| P/OCF | 12.85 | ||
| P/B | 3.46 | ||
| P/tB | 6.79 | ||
| EV/EBITDA | 15.73 |
EPS(TTM)3.55
EY3.92%
EPS(NY)3.87
Fwd EY4.27%
FCF(TTM)1.98
FCFY2.18%
OCF(TTM)7.05
OCFY7.78%
SpS14.63
BVpS26.2
TBVpS13.35
PEG (NY)4.59
PEG (5Y)N/A
Graham Number45.7475 (-49.52%)
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 | 0.83 |
F-Score7
WACC6.69%
ROIC/WACC0.75
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)3.11%
EPS 3Y-6.45%
EPS 5Y-3.47%
EPS Q2Q%2.85%
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%5.43%
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 25.53 and the Price/Book (PB) ratio is 3.46.
Can you provide the financial health for TRP stock?
The financial health rating of TC ENERGY CORP (TRP.CA) is 2 / 10.