TC ENERGY CORP (TRP.CA) Fundamental Analysis & Valuation
TSX:TRP • CA87807B1076
Current stock price
88.39 CAD
-0.25 (-0.28%)
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.
- TRP had positive earnings in each of the past 5 years.
- TRP had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- TRP's Return On Assets of 2.86% is in line compared to the rest of the industry. TRP outperforms 59.81% of its industry peers.
- TRP has a Return On Equity of 12.46%. This is amongst the best in the industry. TRP outperforms 84.69% of its industry peers.
- With a decent Return On Invested Capital value of 5.03%, TRP is doing good in the industry, outperforming 71.29% 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 6.85%.
- The 3 year average ROIC (4.55%) for TRP is below the current ROIC(5.03%), indicating increased profibility in the last year.
| 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
- TRP has a better Profit Margin (22.31%) than 87.56% of its industry peers.
- 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 92.82% of its industry peers.
- TRP's Operating Margin has been stable in the last couple of years.
- The Gross Margin of TRP (69.69%) is better than 83.73% of its industry peers.
- TRP's Gross Margin has been stable in the last couple of years.
| 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
- TRP has an Altman-Z score of 0.81. This is a bad value and indicates that TRP is not financially healthy and even has some risk of bankruptcy.
- With a Altman-Z score value of 0.81, TRP perfoms like the industry average, outperforming 54.55% of the companies in the same 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 67.94% 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.
- With a Debt to Equity ratio value of 2.15, TRP is not doing good in the industry: 76.08% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.15 | ||
| Debt/FCF | 29.22 | ||
| Altman-Z | 0.81 |
ROIC/WACC0.76
WACC6.57%
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.
- TRP has a Quick ratio of 0.56. This is comparable to the rest of the industry: TRP outperforms 44.98% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.63 | ||
| Quick Ratio | 0.56 |
3. TRP.CA Growth Analysis
3.1 Past
- The earnings per share for TRP have decreased by -5.63% in the last year.
- 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.
- 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
- TRP is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.15% yearly.
- Based on estimates for the next years, TRP will show a small growth in Revenue. The Revenue will grow by 4.68% on average per year.
EPS Next Y5.57%
EPS Next 2Y4.86%
EPS Next 3Y6.17%
EPS Next 5Y7.15%
Revenue Next Year6.38%
Revenue Next 2Y4.38%
Revenue Next 3Y4.74%
Revenue Next 5Y4.68%
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.
4. TRP.CA Valuation Analysis
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 25.11, TRP can be considered very expensive at the moment.
- Based on the Price/Earnings ratio, TRP is valued a bit cheaper than 62.68% of the companies in the same industry.
- TRP's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.86.
- Based on the Price/Forward Earnings ratio of 23.79, the valuation of TRP can be described as rather expensive.
- Based on the Price/Forward Earnings ratio, TRP is valued a bit cheaper than the industry average as 63.64% of the companies are valued more expensively.
- TRP is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 37.39, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.11 | ||
| Fwd PE | 23.79 |
4.2 Price Multiples
- TRP's Enterprise Value to EBITDA is on the same level as the industry average.
- 62.68% 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 | 44.7 | ||
| EV/EBITDA | 15.48 |
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.
- The decent profitability rating of TRP may justify a higher PE ratio.
PEG (NY)4.51
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 3.96%. Purely for dividend investing, there may be better candidates out there.
- TRP's Dividend Yield is a higher than the industry average which is at 4.63.
- Compared to an average S&P500 Dividend Yield of 1.82, TRP pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.96% |
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
- 106.50% of the earnings are spent on dividend by TRP. 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 (4/10/2026, 7:00:00 PM)
88.39
-0.25 (-0.28%)
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 Cap92.08B
Revenue(TTM)15.24B
Net Income(TTM)3.40B
Analysts72.8
Price Target88.31 (-0.09%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.96% |
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)10.77%
EPS NQ rev (1m)-0.42%
EPS NQ rev (3m)-2.98%
EPS NY rev (1m)0.04%
EPS NY rev (3m)-1.98%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.99%
Revenue NY rev (1m)0.06%
Revenue NY rev (3m)0.14%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.11 | ||
| Fwd PE | 23.79 | ||
| P/S | 6.04 | ||
| P/FCF | 44.7 | ||
| P/OCF | 12.53 | ||
| P/B | 3.37 | ||
| P/tB | 6.62 | ||
| EV/EBITDA | 15.48 |
EPS(TTM)3.52
EY3.98%
EPS(NY)3.72
Fwd EY4.2%
FCF(TTM)1.98
FCFY2.24%
OCF(TTM)7.05
OCFY7.98%
SpS14.63
BVpS26.2
TBVpS13.35
PEG (NY)4.51
PEG (5Y)N/A
Graham Number45.55
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 | 0.81 |
F-Score7
WACC6.57%
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 5Y7.15%
Revenue 1Y (TTM)10.66%
Revenue growth 3Y0.58%
Revenue growth 5Y3.23%
Sales Q2Q%206.47%
Revenue Next Year6.38%
Revenue Next 2Y4.38%
Revenue Next 3Y4.74%
Revenue Next 5Y4.68%
EBIT growth 1Y16.87%
EBIT growth 3Y3.61%
EBIT growth 5Y3.1%
EBIT Next Year49.28%
EBIT Next 3Y17.54%
EBIT Next 5Y12.4%
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 25.11 and the Price/Book (PB) ratio is 3.37.
Can you provide the financial health for TRP stock?
The financial health rating of TC ENERGY CORP (TRP.CA) is 2 / 10.