Financials TC Energy Corporation

Equities

TRP

CA87807B1076

Oil & Gas Transportation Services

Delayed Toronto S.E. 09:41:32 2024-07-17 EDT 5-day change 1st Jan Change
54.82 CAD +0.40% Intraday chart for TC Energy Corporation +4.64% +5.89%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 64,623 48,648 57,610 54,628 53,700 56,647 - -
Enterprise Value (EV) 1 113,179 96,677 109,703 112,308 113,223 117,865 120,357 122,672
P/E ratio 16.2 x 10.9 x 31.6 x 84.3 x 18.8 x 13 x 12.3 x 10.9 x
Yield 4.34% 6.26% 5.92% 6.67% 7.19% 7.03% 7.24% 7.44%
Capitalization / Revenue 4.88 x 3.74 x 4.3 x 3.65 x 3.37 x 3.46 x 3.29 x 3.12 x
EV / Revenue 8.54 x 7.44 x 8.19 x 7.5 x 7.11 x 7.2 x 6.99 x 6.75 x
EV / EBITDA 12.1 x 10.3 x 11.7 x 11.3 x 10.3 x 10.3 x 10.1 x 9.63 x
EV / FCF -103 x -101 x 114 x -371 x -153 x -205 x 59.7 x 41.1 x
FCF Yield -0.97% -0.99% 0.88% -0.27% -0.65% -0.49% 1.67% 2.43%
Price to Book 2.11 x 1.55 x 1.73 x 1.62 x 1.82 x 2.03 x 1.98 x 1.92 x
Nbr of stocks (in thousands) 934,395 940,064 979,259 1,012,000 1,037,488 1,037,488 - -
Reference price 2 69.16 51.75 58.83 53.98 51.76 54.60 54.60 54.60
Announcement Date 20-02-13 21-02-18 22-02-15 23-02-14 24-02-16 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 13,255 12,999 13,387 14,977 15,934 16,370 17,208 18,170
EBITDA 1 9,366 9,351 9,382 9,901 10,988 11,443 11,904 12,742
EBIT 1 6,902 6,761 6,860 7,317 8,210 8,581 9,142 9,787
Operating Margin 52.07% 52.01% 51.24% 48.85% 51.53% 52.42% 53.13% 53.86%
Earnings before Tax (EBT) 1 5,187 5,107 2,166 1,374 4,010 6,047 6,361 6,681
Net income 1 4,000 4,457 1,815 641 2,829 4,351 4,624 5,195
Net margin 30.18% 34.29% 13.56% 4.28% 17.75% 26.58% 26.87% 28.59%
EPS 2 4.280 4.740 1.860 0.6400 2.750 4.201 4.456 5.004
Free Cash Flow 1 -1,100 -955 966 -303 -739 -575.2 2,015 2,982
FCF margin -8.3% -7.35% 7.22% -2.02% -4.64% -3.51% 11.71% 16.41%
FCF Conversion (EBITDA) - - 10.3% - - - 16.93% 23.4%
FCF Conversion (Net income) - - 53.22% - - - 43.58% 57.4%
Dividend per Share 2 3.000 3.240 3.480 3.600 3.720 3.840 3.955 4.063
Announcement Date 20-02-13 21-02-18 22-02-15 23-02-14 24-02-16 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 3,584 3,500 3,637 3,799 4,041 3,928 3,830 3,940 4,236 4,243 3,784 3,972 4,379 4,314 3,955
EBITDA 1 2,404 2,388 2,369 2,461 2,683 2,775 2,474 2,632 3,107 3,090 2,676 2,770 2,927 3,038 2,733
EBIT 1 1,770 1,762 1,734 1,808 2,013 2,098 1,780 1,942 2,390 2,371 1,942 2,095 2,229 2,354 1,976
Operating Margin 49.39% 50.34% 47.68% 47.59% 49.81% 53.41% 46.48% 49.29% 56.42% 55.88% 51.33% 52.74% 50.89% 54.57% 49.97%
Earnings before Tax (EBT) 1 1,436 - 1,079 992 -1,420 1,688 537 -39 1,824 1,690 1,213 1,361 1,821 1,747 1,255
Net income 1 1,118 358 889 841 -1,447 1,313 250 -197 1,463 1,203 888 1,011 1,219 1,313 878
Net margin 31.19% 10.23% 24.44% 22.14% -35.81% 33.43% 6.53% -5% 34.54% 28.35% 23.47% 25.46% 27.84% 30.43% 22.2%
EPS 2 1.140 0.3600 - 0.8400 -1.420 1.290 0.2400 -0.1900 1.410 1.160 0.8300 0.9367 1.113 1.160 0.8100
Dividend per Share 2 0.8700 0.9000 0.9000 0.9000 0.9000 0.9300 0.9300 0.9300 0.9300 0.9600 0.9600 0.9600 0.9638 0.9897 0.9897
Announcement Date 22-02-15 22-04-29 22-07-28 22-11-09 23-02-14 23-04-28 23-07-27 23-11-08 24-02-16 24-05-03 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 48,556 48,029 52,093 57,680 59,523 61,218 63,710 66,026
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.184 x 5.136 x 5.552 x 5.826 x 5.417 x 5.35 x 5.352 x 5.182 x
Free Cash Flow 1 -1,100 -955 966 -303 -739 -575 2,015 2,982
ROE (net income / shareholders' equity) 13% 14.3% 5.61% 12.7% 14.6% 15.4% 15.6% 16.2%
ROA (Net income/ Total Assets) 3.94% 4.47% 1.77% 3.92% 3.89% 3.75% 3.9% 4.1%
Assets 1 101,642 99,790 102,259 16,369 72,787 116,031 118,577 126,699
Book Value Per Share 2 32.80 33.40 33.90 33.40 28.50 26.90 27.50 28.40
Cash Flow per Share 2 7.610 7.510 7.070 6.400 7.010 7.290 7.630 8.100
Capex 1 8,182 8,013 5,924 6,678 8,007 8,321 6,622 5,504
Capex / Sales 61.73% 61.64% 44.25% 44.59% 50.25% 50.83% 38.48% 30.29%
Announcement Date 20-02-13 21-02-18 22-02-15 23-02-14 24-02-16 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
54.6 CAD
Average target price
56.76 CAD
Spread / Average Target
+3.96%
Consensus
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  4. Financials TC Energy Corporation