TRP Stock Analysis: TC Energy | NYSE
Oil & Gas Midstream | NYSE, USA | Market Cap: 70.798m USD | 12M Return: 50.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 186M
EPS Trend: -85.1%
Qual. Beats: 0
Rev. Trend: -43.3%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
TC Energy Corporation (NYSE: TRP) is a Calgary-based energy infrastructure company that builds and operates an extensive network of natural gas pipelines across Canada, the United States, and Mexico. Its operations are organized into four segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, and Power and Energy Solutions. In addition to its pipeline network, the company operates regulated natural gas storage facilities, non-regulated storage assets in four Canadian provinces, and power generation facilities.
The company generates revenue primarily through long-term regulated and contracted tariffs on its pipeline and storage assets, a business model common among midstream operators in the Oil & Gas Storage & Transportation sub-industry. This asset-heavy structure typically provides stable cash flows tied to capacity reservation and throughput fees rather than commodity prices. Founded in 1951 and rebranded from TransCanada Corporation in 2019, TC Energy is classified as a large-cap energy stock with a primary listing on the NYSE and is headquartered in Calgary, Canada.
- US natural gas demand from LNG exports lifts pipeline volumes
- Mexico segment contract disputes pressure earnings outlook
- Asset divestitures and Coastal GasLink completion reduce debt load
| 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 July 17, 2026, the stock is trading at USD 69.90 with a total of 1,948,245 shares traded. Over the past week, the price has changed by +2.85%, over one month by +2.37%, over three months by +16.83% and over the past year by +50.57%.
Current recommended Stop Loss: 66.20 (which is 5.3% or 2.7 ATR below the current price).
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 | 61.1 | -12.6% |
Market Cap CAD = 99.4b (70.8b USD * 1.4037 USD.CAD)
P/E Trailing = 28.9192
P/E Forward = 26.5957
P/S = 4.5744
P/B = 4.0364
P/EG = 4.3982
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 = 161b CAD (99.4b + Debt 62.4b - CCE 1.09b)
Interest Coverage Ratio = 2.67 (Ebit TTM 8.62b / Interest Expense TTM 3.23b)
EV/FCF = 47.72x (Enterprise Value 161b / FCF TTM 3.37b)
FCF Yield = 2.10% (FCF TTM 3.37b / Enterprise Value 161b)
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 = 1.33 (Enterprise Value 161b / 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 = 5.34% (E(99.4b)/V(162b) * Re(6.10%) + D(62.4b)/V(162b) * Rd(5.18%) * (1-Tc(0.20)))
Discount Rate = 6.10% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.01 | 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: -85.07 | EPS CAGR: -9.17% | SUE: 0.51 | # 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=+0.00% | Revisions=-13% | Analysts=16
EPS next Quarter (2026-09-30): EPS=0.83 | Chg30d=-0.17% | Revisions=-21% | Analysts=15
EPS current Year (2026-12-31): EPS=3.64 | Chg30d=-0.04% | Revisions=-21% | GrowthEPS=+3.6% | GrowthRev=+4.8%
EPS next Year (2027-12-31): EPS=3.85 | Chg30d=-0.13% | Revisions=+10% | GrowthEPS=+5.9% | GrowthRev=+4.9%
[Analyst] Revisions Ratio: -12% (up=25, down=32)