Stock TRP TC ENERGY CORPORATION
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Financials TC Energy Corporation

Equities

TRP

CA87807B1076

Oil & Gas Transportation Services

Market Closed - Toronto S.E.
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
49.3 CAD -0.06% Intraday chart for TC Energy Corporation +0.51% -4.75%
Apr. 23 TC Energy Providing Results of Series 7 Shares Conversion Elections MT
Apr. 23 Canada's TC Energy says NGTL pipeline system resumes normal operations after fire RE

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 64,623 48,648 57,610 54,628 53,700 51,148 - -
Enterprise Value (EV) 1 113,179 96,677 109,703 112,308 113,223 113,549 115,812 118,321
P/E ratio 16.2 x 10.9 x 31.6 x 84.3 x 18.8 x 12.1 x 11.5 x 10 x
Yield 4.34% 6.26% 5.92% 6.67% 7.19% 7.79% 8.02% 8.22%
Capitalization / Revenue 4.88 x 3.74 x 4.3 x 3.65 x 3.37 x 3.14 x 2.99 x 2.77 x
EV / Revenue 8.54 x 7.44 x 8.19 x 7.5 x 7.11 x 6.97 x 6.77 x 6.42 x
EV / EBITDA 12.1 x 10.3 x 11.7 x 11.3 x 10.3 x 10 x 9.83 x 9.33 x
EV / FCF -103 x -101 x 114 x -371 x -153 x -192 x 68.7 x 39 x
FCF Yield -0.97% -0.99% 0.88% -0.27% -0.65% -0.52% 1.46% 2.57%
Price to Book 2.11 x 1.55 x 1.73 x 1.62 x 1.82 x 1.91 x 1.79 x 1.72 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 49.30 49.30 49.30
Announcement Date 2/13/20 2/18/21 2/15/22 2/14/23 2/16/24 - - -
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 16,284 17,113 18,443
EBITDA 1 9,366 9,351 9,382 9,901 10,988 11,314 11,780 12,679
EBIT 1 6,902 6,761 6,860 7,317 8,210 8,450 8,912 9,818
Operating Margin 52.07% 52.01% 51.24% 48.85% 51.53% 51.89% 52.07% 53.23%
Earnings before Tax (EBT) 1 5,187 5,107 2,166 1,374 4,010 5,671 6,061 6,468
Net income 1 4,000 4,457 1,815 641 2,829 4,294 4,539 5,104
Net margin 30.18% 34.29% 13.56% 4.28% 17.75% 26.37% 26.52% 27.68%
EPS 2 4.280 4.740 1.860 0.6400 2.750 4.062 4.283 4.920
Free Cash Flow 1 -1,100 -955 966 -303 -739 -592.3 1,687 3,036
FCF margin -8.3% -7.35% 7.22% -2.02% -4.64% -3.64% 9.86% 16.46%
FCF Conversion (EBITDA) - - 10.3% - - - 14.32% 23.94%
FCF Conversion (Net income) - - 53.22% - - - 37.16% 59.47%
Dividend per Share 2 3.000 3.240 3.480 3.600 3.720 3.840 3.954 4.052
Announcement Date 2/13/20 2/18/21 2/15/22 2/14/23 2/16/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 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
Net sales 1 3,240 3,584 3,500 3,637 3,799 4,041 3,928 3,830 3,940 4,236 4,214 3,795 3,925 4,282 4,152
EBITDA 1 2,240 2,404 2,388 2,369 2,461 2,683 2,775 2,474 2,632 3,107 2,968 2,656 2,755 2,891 2,966
EBIT 1 1,630 1,770 1,762 1,734 1,808 2,013 2,098 1,780 1,942 2,390 2,271 1,889 2,060 2,190 2,243
Operating Margin 50.31% 49.39% 50.34% 47.68% 47.59% 49.81% 53.41% 46.48% 49.29% 56.42% 53.89% 49.79% 52.49% 51.16% 54.02%
Earnings before Tax (EBT) 1 953 1,436 - 1,079 992 -1,420 1,688 537 -39 1,824 1,618 1,133 1,293 1,627 1,564
Net income 1 779 1,118 358 889 841 -1,447 1,313 250 -197 1,463 1,178 911.2 992.2 1,177 1,100
Net margin 24.04% 31.19% 10.23% 24.44% 22.14% -35.81% 33.43% 6.53% -5% 34.54% 27.95% 24.01% 25.28% 27.48% 26.5%
EPS 2 0.8000 1.140 0.3600 - 0.8400 -1.420 1.290 0.2400 -0.1900 1.410 1.090 0.8333 0.9367 1.130 1.060
Dividend per Share 2 0.8700 0.8700 0.9000 0.9000 0.9000 0.9000 0.9300 0.9300 0.9300 0.9300 0.9597 0.9597 0.9597 0.9635 0.9889
Announcement Date 11/5/21 2/15/22 4/29/22 7/28/22 11/9/22 2/14/23 4/28/23 7/27/23 11/8/23 2/16/24 - - - - -
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 62,401 64,664 67,173
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.184 x 5.136 x 5.552 x 5.826 x 5.417 x 5.515 x 5.489 x 5.298 x
Free Cash Flow 1 -1,100 -955 966 -303 -739 -592 1,687 3,036
ROE (net income / shareholders' equity) 13% 14.3% 5.61% 12.7% 14.6% 14.7% 15% -
ROA (Net income/ Total Assets) 3.94% 4.47% 1.77% 3.92% 3.89% 3.67% 3.8% 4.2%
Assets 1 101,642 99,790 102,259 16,369 72,787 117,104 119,441 121,536
Book Value Per Share 2 32.80 33.40 33.90 33.40 28.50 25.80 27.50 28.60
Cash Flow per Share 2 7.610 7.510 7.070 6.400 7.010 7.230 7.560 8.030
Capex 1 8,182 8,013 5,924 6,678 8,007 8,296 6,580 5,267
Capex / Sales 61.73% 61.64% 44.25% 44.59% 50.25% 50.95% 38.45% 28.56%
Announcement Date 2/13/20 2/18/21 2/15/22 2/14/23 2/16/24 - - -
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

Ratings for TC Energy Corporation

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
22
Last Close Price
49.3 CAD
Average target price
55.72 CAD
Spread / Average Target
+13.03%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Other Oil & Gas Transportation Services
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