(TRP) TC Energy - NYSE
Sector: Energy | Industry: Oil & Gas Midstream | Exchange: NYSE (USA) | Market Cap: 72.288m USD | Total Return: 46.5% in 12m
Avg Turnover: 148M
EPS Trend: -69.6%
Qual. Beats: 0
Rev. Trend: -43.3%
Qual. Beats: 0
Warnings
Altman Z'' 0.46 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
TC Energy Corporation is a Calgary-based energy infrastructure company operating an expansive 94,171-kilometer natural gas pipeline network across Canada, the United States, and Mexico. The firm manages four primary segments focused on natural gas transmission and storage, alongside a power and energy solutions division with 4,650 megawatts of generation capacity. Its infrastructure connects major supply basins to high-demand end markets, including local distributors, industrial plants, and LNG export terminals.
The company operates under a midstream business model, which typically relies on long-term, fee-based contracts to provide stable cash flows regardless of short-term commodity price volatility. This sector is characterized by high barriers to entry due to the significant capital expenditures and regulatory approvals required to construct cross-border pipeline systems. Investors can examine detailed financial metrics and valuation trends for TRP on ValueRay. TC Energy also maintains extensive regulated and non-regulated gas storage facilities, totaling over 650 billion cubic feet of capacity, to manage seasonal demand fluctuations.
- South Bow spin-off execution improves balance sheet and lowers corporate debt load
- Natural gas demand for LNG export terminals drives long-term pipeline volume growth
- Coastal GasLink cost overruns and project delays impact overall capital expenditure efficiency
- Regulatory approvals for interstate pipeline expansions dictate future rate base revenue growth
- Interest rate fluctuations significantly influence dividend yield attractiveness and financing costs
| Net Income: 3.44b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 1.98 > 1.0 |
| NWC/Revenue: -23.37% < 20% (prev -24.63%; Δ 1.26% < -1%) |
| CFO/TA 0.06 > 3% & CFO 7.86b > Net Income 3.44b |
| Net Debt (61.3b) to EBITDA (11.4b): 5.36 < 3 |
| Current Ratio: 0.65 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.04b) vs 12m ago 0.19% < -2% |
| Gross Margin: 51.19% > 18% (prev 49.02%; Δ 2.17% > 0.5%) |
| Asset Turnover: 13.04% > 50% (prev 10.28%; Δ 2.76% > 0%) |
| Interest Coverage Ratio: 2.67 > 6 (EBIT TTM 8.62b / Interest Expense TTM 3.23b) |
| A: -0.03 (Total Current Assets 6.85b - Total Current Liabilities 10.5b) / Total Assets 121b |
| B: -0.05 (Retained Earnings -5.96b / Total Assets 121b) |
| C: 0.07 (EBIT TTM 8.62b / Avg Total Assets 121b) |
| D: 0.33 (Book Value of Equity 27.6b / Total Liabilities 83.9b) |
| Altman-Z'' = 0.46 = B |
| DSRI: 0.82 (Receivables 2.68b/2.59b, Revenue 15.8b/12.4b) |
| GMI: 0.96 (GM 49.02% / 51.19%) |
| AQI: 1.28 (AQ_t 0.35 / AQ_t-1 0.27) |
| SGI: 1.27 (Revenue 15.8b / 12.4b) |
| TATA: -0.04 (NI 3.44b - CFO 7.86b) / TA 121b) |
| Beneish M = -2.86 (Cap -4..+1) = A |
As of June 17, 2026, the stock is trading at USD 68.92 with a total of 2,181,516 shares traded.
Over the past week, the price has changed by +1.10%,
over one month by -0.58%,
over three months by +8.30% and
over the past year by +46.52%.
TC Energy has received a consensus analysts rating of 3.83. Therefore, it is recommended to buy TRP.
- StrongBuy: 7
- Buy: 7
- Hold: 7
- Sell: 2
- StrongSell: 0
| Analysts Target Price | 61.8 | -10.3% |
Market Cap CAD = 101b (72.3b USD * 1.4004 USD.CAD)
P/E Trailing = 28.5556
P/E Forward = 26.3158
P/S = 4.6707
P/B = 3.9893
P/EG = 4.4511
Revenue TTM = 15.8b CAD
EBIT TTM = 8.62b CAD
EBITDA TTM = 11.4b CAD
Long Term Debt = 58.2b CAD (from longTermDebt, last quarter)
Short Term Debt = 3.66b CAD (from shortTermDebt, last quarter)
Debt = 62.4b CAD (from shortLongTermDebtTotal, last quarter) + Leases 431.0m
Net Debt = 61.3b CAD (calculated: Debt 62.4b - CCE 1.09b)
Enterprise Value = 163b CAD (101b + Debt 62.4b - CCE 1.09b)
Interest Coverage Ratio = 2.67 (Ebit TTM 8.62b / Interest Expense TTM 3.23b)
EV/FCF = 48.27x (Enterprise Value 163b / FCF TTM 3.37b)
FCF Yield = 2.07% (FCF TTM 3.37b / Enterprise Value 163b)
FCF Margin = 21.36% (FCF TTM 3.37b / Revenue TTM 15.8b)
Net Margin = 21.83% (Net Income TTM 3.44b / Revenue TTM 15.8b)
Gross Margin = 51.19% ((Revenue TTM 15.8b - Cost of Revenue TTM 7.69b) / Revenue TTM)
Gross Margin QoQ = 56.70% (prev 49.69%)
Tobins Q-Ratio = 1.34 (Enterprise Value 163b / Total Assets 121b)
Interest Expense / Debt = 5.18% (Interest Expense 3.23b / Debt 62.4b)
Taxrate = 20.42% (1.10b / 5.38b)
NOPAT = 6.86b (EBIT 8.62b * (1 - 20.42%))
Current Ratio = 0.65 (Total Current Assets 6.85b / Total Current Liabilities 10.5b)
Debt / Equity = 2.26 (Debt 62.4b / totalStockholderEquity, last quarter 27.6b)
Debt / EBITDA = 5.36 (Net Debt 61.3b / EBITDA 11.4b)
Debt / FCF = 18.21 (Net Debt 61.3b / FCF TTM 3.37b)
Total Stockholder Equity = 27.5b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.85% (Net Income 3.44b / Total Assets 121b)
RoE = 12.53% (Net Income TTM 3.44b / Total Stockholder Equity 27.5b)
RoCE = 10.06% (EBIT 8.62b / Capital Employed (Equity 27.5b + L.T.Debt 58.2b))
RoIC = 6.04% (NOPAT 6.86b / Invested Capital 113b)
WACC = 5.35% (E(101b)/V(164b) * Re(6.11%) + D(62.4b)/V(164b) * Rd(5.18%) * (1-Tc(0.20)))
Discount Rate = 6.11% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 89.44 | Cagr: 0.21%
[DCF] Terminal Value 77.97% ; FCFF base≈2.40b ; Y1≈2.76b ; Y5≈4.06b
[DCF] Fair Price = N/A (negative equity: EV 61.0b - Net Debt 61.3b = -284.7m; debt exceeds intrinsic value)
EPS Correlation: -69.65 | EPS CAGR: -8.46% | SUE: 0.13 | # QB: 0
Revenue Correlation: -43.33 | Revenue CAGR: -5.06% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.81 | Chg30d=-0.07% | Revisions=-12% | Analysts=16
EPS next Quarter (2026-09-30): EPS=0.83 | Chg30d=-0.24% | Revisions=-20% | Analysts=15
EPS current Year (2026-12-31): EPS=3.64 | Chg30d=-0.12% | Revisions=-20% | GrowthEPS=+3.7% | GrowthRev=+4.8%
EPS next Year (2027-12-31): EPS=3.86 | Chg30d=+0.07% | Revisions=+9% | GrowthEPS=+6.0% | GrowthRev=+4.9%
[Analyst] Revisions Ratio: -20%