TC ENERGY CORP (TRP.CA) Fundamental Analysis & Valuation
TSX:TRP • CA87807B1076
Current stock price
84.48 CAD
-0.31 (-0.37%)
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.
- In the past 5 years TRP has always been profitable.
- Each year in the past 5 years TRP had a positive operating cash flow.
1.2 Ratios
- The Return On Assets of TRP (2.86%) is comparable to the rest of the industry.
- TRP has a better Return On Equity (12.46%) than 84.73% of its industry peers.
- TRP has a Return On Invested Capital of 5.03%. This is in the better half of the industry: TRP outperforms 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
- The Profit Margin of TRP (22.31%) is better than 87.19% of its industry peers.
- In the last couple of years the Profit Margin of TRP has declined.
- TRP has a better Operating Margin (44.37%) than 93.10% of its industry peers.
- In the last couple of years the Operating Margin of TRP has remained more or less at the same level.
- Looking at the Gross Margin, with a value of 69.69%, TRP belongs to the top of the industry, outperforming 84.24% of the companies in the same industry.
- 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
- 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.
- TRP has a worse debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 0.79, we must say that TRP is in the distress zone and has some risk of bankruptcy.
- TRP has a Altman-Z score (0.79) which is in line with 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.
- TRP's Debt to FCF ratio of 29.22 is fine compared to the rest of the industry. TRP outperforms 68.47% of its industry peers.
- TRP has a Debt/Equity ratio of 2.15. This is a high value indicating a heavy dependency on external financing.
- With a Debt to Equity ratio value of 2.15, TRP is not doing good in the industry: 77.34% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.15 | ||
| Debt/FCF | 29.22 | ||
| Altman-Z | 0.79 |
ROIC/WACC0.76
WACC6.63%
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's Current ratio of 0.63 is in line compared to the rest of the industry. TRP outperforms 47.78% of 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 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
- The earnings per share for TRP have decreased by -5.63% in the last year.
- 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.
- TRP 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
- 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
- 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 24.00, TRP is valued on the expensive side.
- Compared to the rest of the industry, the Price/Earnings ratio of TRP indicates a somewhat cheap valuation: TRP is cheaper than 63.55% of the companies listed in the same industry.
- Compared to an average S&P500 Price/Earnings ratio of 27.15, TRP is valued at the same level.
- With a Price/Forward Earnings ratio of 22.73, TRP is valued on the expensive side.
- 64.53% of the companies in the same industry are more expensive than TRP, based on the Price/Forward Earnings ratio.
- When comparing the Price/Forward Earnings ratio of TRP to the average of the S&P500 Index (22.12), we can say TRP is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24 | ||
| Fwd PE | 22.73 |
4.2 Price Multiples
- TRP's Enterprise Value to EBITDA is on the same level as the industry average.
- Based on the Price/Free Cash Flow ratio, TRP is valued a bit cheaper than the industry average as 63.05% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 42.72 | ||
| EV/EBITDA | 15.06 |
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)4.31
PEG (5Y)N/A
EPS Next 2Y4.86%
EPS Next 3Y6.17%
5. TRP.CA Dividend Analysis
5.1 Amount
- With a Yearly Dividend Yield of 4.21%, TRP is a good candidate for dividend investing.
- Compared to an average industry Dividend Yield of 3.03, TRP pays a bit more dividend than its industry peers.
- TRP's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
| 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 (4/27/2026, 7:00:00 PM)
84.48
-0.31 (-0.37%)
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 Cap88.01B
Revenue(TTM)15.24B
Net Income(TTM)3.40B
Analysts72.8
Price Target88.31 (4.53%)
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 | ||
| Fwd PE | 22.73 | ||
| P/S | 5.78 | ||
| P/FCF | 42.72 | ||
| P/OCF | 11.98 | ||
| P/B | 3.22 | ||
| P/tB | 6.33 | ||
| EV/EBITDA | 15.06 |
EPS(TTM)3.52
EY4.17%
EPS(NY)3.72
Fwd EY4.4%
FCF(TTM)1.98
FCFY2.34%
OCF(TTM)7.05
OCFY8.35%
SpS14.63
BVpS26.2
TBVpS13.35
PEG (NY)4.31
PEG (5Y)N/A
Graham Number45.5538 (-46.08%)
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 and the Price/Book (PB) ratio is 3.22.
Can you provide the financial health for TRP stock?
The financial health rating of TC ENERGY CORP (TRP.CA) is 2 / 10.