TC ENERGY CORP (TRP.CA) Stock Fundamental Analysis

TSX:TRP • CA87807B1076

86.51 CAD
-0.39 (-0.45%)
Last: Feb 25, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

Taking everything into account, TRP scores 4 out of 10 in our fundamental rating. TRP was compared to 212 industry peers in the Oil, Gas & Consumable Fuels industry. TRP has an excellent profitability rating, but there are concerns on its financial health. TRP does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • TRP had positive earnings in the past year.
  • TRP had a positive operating cash flow in the past year.
  • TRP had positive earnings in 4 of the past 5 years.
  • Of the past 5 years TRP 4 years had a positive operating cash flow.
TRP.CA Yearly Net Income VS EBIT VS OCF VS FCFTRP.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 0 2B -2B 4B 6B

1.2 Ratios

  • TRP has a Return On Assets of 2.82%. This is in the better half of the industry: TRP outperforms 63.68% of its industry peers.
  • TRP's Return On Equity of 12.35% is amongst the best of the industry. TRP outperforms 85.38% of its industry peers.
  • With a Return On Invested Capital value of 3.97%, TRP perfoms like the industry average, outperforming 58.96% of the companies in the same industry.
  • TRP had an Average Return On Invested Capital over the past 3 years of 4.35%. This is below the industry average of 6.59%.
Industry RankSector Rank
ROA 2.82%
ROE 12.35%
ROIC 3.97%
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.CA Yearly ROA, ROE, ROICTRP.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

  • TRP has a better Profit Margin (27.28%) than 91.98% of its industry peers.
  • In the last couple of years the Profit Margin of TRP has grown nicely.
  • TRP's Operating Margin of 44.41% is amongst the best of the industry. TRP outperforms 95.28% of its industry peers.
  • In the last couple of years the Operating Margin of TRP has remained more or less at the same level.
  • TRP has a Gross Margin of 69.05%. This is amongst the best in the industry. TRP outperforms 85.38% 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 RankSector Rank
OM 44.41%
PM (TTM) 27.28%
GM 69.05%
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.CA Yearly Profit, Operating, Gross MarginsTRP.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), TRP is destroying value.
  • TRP has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
TRP.CA Yearly Shares OutstandingTRP.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
TRP.CA Yearly Total Debt VS Total AssetsTRP.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B 100B

2.2 Solvency

  • Based on the Altman-Z score of 0.72, we must say that TRP is in the distress zone and has some risk of bankruptcy.
  • The Altman-Z score of TRP (0.72) is comparable to the rest of the industry.
  • The Debt to FCF ratio of TRP is 31.45, which is on the high side as it means it would take TRP, 31.45 years of fcf income to pay off all of its debts.
  • TRP has a better Debt to FCF ratio (31.45) than 62.26% of its industry peers.
  • TRP has a Debt/Equity ratio of 2.13. This is a high value indicating a heavy dependency on external financing.
  • TRP has a Debt to Equity ratio of 2.13. This is in the lower half of the industry: TRP underperforms 74.53% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.13
Debt/FCF 31.45
Altman-Z 0.72
ROIC/WACC0.6
WACC6.57%
TRP.CA Yearly LT Debt VS Equity VS FCFTRP.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B 40B 60B

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 in line with its industry peers.
  • A Quick Ratio of 0.56 indicates that TRP may have some problems paying its short term obligations.
  • TRP 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.CA Yearly Current Assets VS Current LiabilitesTRP.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

More info and screens

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

2

3. Growth

3.1 Past

  • TRP shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -6.35%.
  • Measured over the past years, TRP shows a decrease in Earnings Per Share. The EPS has been decreasing by -3.62% on average per year.
EPS 1Y (TTM)-6.35%
EPS 3Y-6.69%
EPS 5Y-3.62%
EPS Q2Q%83.33%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%199.4%

3.2 Future

  • TRP is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.48% yearly.
  • The Revenue is expected to grow by 4.39% on average over the next years.
EPS Next Y8.42%
EPS Next 2Y6.27%
EPS Next 3Y7.16%
EPS Next 5Y6.48%
Revenue Next Year6.23%
Revenue Next 2Y4.57%
Revenue Next 3Y4.98%
Revenue Next 5Y4.39%

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.
TRP.CA Yearly Revenue VS EstimatesTRP.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5B 10B 15B 20B
TRP.CA Yearly EPS VS EstimatesTRP.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 1 2 3 4 5

More info and screens

Find the best growth stocksShow best growing peers

3

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 24.79 indicates a rather expensive valuation of TRP.
  • TRP's Price/Earnings ratio is a bit cheaper when compared to the industry. TRP is cheaper than 61.79% of the companies in the same industry.
  • TRP's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.21.
  • A Price/Forward Earnings ratio of 22.84 indicates a rather expensive valuation of TRP.
  • 60.85% of the companies in the same industry are more expensive than TRP, based on the Price/Forward Earnings ratio.
  • TRP's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 28.13.
Industry RankSector Rank
PE 24.79
Fwd PE 22.84
TRP.CA Price Earnings VS Forward Price EarningsTRP.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of TRP is on the same level as its industry peers.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as TRP.
Industry RankSector Rank
P/FCF 46.16
EV/EBITDA 17.85
TRP.CA Per share dataTRP.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 has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.94
PEG (5Y)N/A
EPS Next 2Y6.27%
EPS Next 3Y7.16%

More info and screens

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

5

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 4.07%, TRP is a good candidate for dividend investing.
  • TRP's Dividend Yield is a higher than the industry average which is at 3.99.
  • TRP's Dividend Yield is rather good when compared to the S&P500 average which is at 1.80.
Industry RankSector Rank
Dividend Yield 4.07%

5.2 History

  • On average, the dividend of TRP grows each year by 13.09%, which is quite nice.
  • TRP has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)13.09%
Div Incr Years0
Div Non Decr Years0
TRP.CA Yearly Dividends per shareTRP.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3 4

5.3 Sustainability

  • 110.00% of the earnings are spent on dividend by TRP. This is not a sustainable payout ratio.
  • The dividend of TRP is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP110%
EPS Next 2Y6.27%
EPS Next 3Y7.16%
TRP.CA Yearly Income VS Free CF VS DividendTRP.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B
TRP.CA Dividend Payout.TRP.CA Dividend Payout, showing the Payout Ratio.TRP.CA Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

TC ENERGY CORP

TSX:TRP (2/25/2026, 7:00:00 PM)

86.51

-0.39 (-0.45%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-13
Earnings (Next)04-29
Inst Owners83.73%
Inst Owner ChangeN/A
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap90.06B
Revenue(TTM)N/A
Net Income(TTM)3.39B
Analysts74.4
Price Target80.19 (-7.31%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.07%
Yearly Dividend3.9
Dividend Growth(5Y)13.09%
DP110%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.38%
Min EPS beat(2)-4.57%
Max EPS beat(2)3.8%
EPS beat(4)1
Avg EPS beat(4)-13.12%
Min EPS beat(4)-48.32%
Max EPS beat(4)3.8%
EPS beat(8)5
Avg EPS beat(8)-1.97%
EPS beat(12)7
Avg EPS beat(12)-0.86%
EPS beat(16)9
Avg EPS beat(16)-0.26%
Revenue beat(2)1
Avg Revenue beat(2)1.8%
Min Revenue beat(2)-0.72%
Max Revenue beat(2)4.32%
Revenue beat(4)2
Avg Revenue beat(4)-13.83%
Min Revenue beat(4)-63.24%
Max Revenue beat(4)4.32%
Revenue beat(8)4
Avg Revenue beat(8)-5.97%
Revenue beat(12)7
Avg Revenue beat(12)-3.33%
Revenue beat(16)9
Avg Revenue beat(16)-2.19%
PT rev (1m)0.34%
PT rev (3m)5.61%
EPS NQ rev (1m)-4.34%
EPS NQ rev (3m)-7.37%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.1%
Revenue NQ rev (1m)0.05%
Revenue NQ rev (3m)0.19%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.31%
Valuation
Industry RankSector Rank
PE 24.79
Fwd PE 22.84
P/S 7.24
P/FCF 46.16
P/OCF 11.95
P/B 3.28
P/tB 6.32
EV/EBITDA 17.85
EPS(TTM)3.49
EY4.03%
EPS(NY)3.79
Fwd EY4.38%
FCF(TTM)1.87
FCFY2.17%
OCF(TTM)7.24
OCFY8.37%
SpS11.94
BVpS26.38
TBVpS13.68
PEG (NY)2.94
PEG (5Y)N/A
Graham Number45.52
Profitability
Industry RankSector Rank
ROA 2.82%
ROE 12.35%
ROCE 5.11%
ROIC 3.97%
ROICexc 4.05%
ROICexgc 4.62%
OM 44.41%
PM (TTM) 27.28%
GM 69.05%
FCFM 15.69%
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%
ROICexgc growth 3Y-4.34%
ROICexgc 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-Score5
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 2.13
Debt/FCF 31.45
Debt/EBITDA 7.13
Cap/Depr 207.7%
Cap/Sales 44.93%
Interest Coverage 250
Cash Conversion 91.8%
Profit Quality 57.53%
Current Ratio 0.63
Quick Ratio 0.56
Altman-Z 0.72
F-Score5
WACC6.57%
ROIC/WACC0.6
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)-6.35%
EPS 3Y-6.69%
EPS 5Y-3.62%
EPS Q2Q%83.33%
EPS Next Y8.42%
EPS Next 2Y6.27%
EPS Next 3Y7.16%
EPS Next 5Y6.48%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%199.4%
Revenue Next Year6.23%
Revenue Next 2Y4.57%
Revenue Next 3Y4.98%
Revenue Next 5Y4.39%
EBIT growth 1Y-20.42%
EBIT growth 3Y-0.68%
EBIT growth 5Y0%
EBIT Next Year29.76%
EBIT Next 3Y13.14%
EBIT Next 5Y9.66%
FCF growth 1Y359.1%
FCF growth 3Y11.47%
FCF growth 5YN/A
OCF growth 1Y1.39%
OCF growth 3Y3.76%
OCF growth 5Y1.68%

TC ENERGY CORP / TRP.CA 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 3 / 10 to TC ENERGY CORP (TRP.CA). This can be considered as Overvalued.


How profitable is TC ENERGY CORP (TRP.CA) stock?

TC ENERGY CORP (TRP.CA) has a profitability rating of 7 / 10.


What is the earnings growth outlook for TC ENERGY CORP?

The Earnings per Share (EPS) of TC ENERGY CORP (TRP.CA) is expected to grow by 8.42% in the next year.


Can you provide the dividend sustainability for TRP stock?

The dividend rating of TC ENERGY CORP (TRP.CA) is 5 / 10 and the dividend payout ratio is 110%.