TC Energy Corporation Common Stock (TRP)

FairStock Score: 49/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable assets bought at a sensible price. TC Energy owns and operates 94,171 kilometers of natural gas pipelines across Canada, the United States, and Mexico, an infrastructure network that would be difficult to replicate. In the second quarter of 2026, the company generated $4.0B of revenue and $1.0B of net income, a 25.68% net margin. It pays a 4.06% dividend, and trailing free cash flow is $4.1B, a 6.4% FCF yield against the $63.3B market cap. Those are real positives: the assets move essential energy and produce cash. The balance sheet is where caution is warranted. Debt-to-equity is 1.70, the Altman Z-Score is 0.40, and ROCE is only 3.67%, while ROE is 11.83%. A Piotroski F-Score of 4/9 is middling. At the 2026-10-13 close of $61.55, FairStock calculations show a P/E of 24.52, P/B of 3.60, EV/EBITDA of 10.87, and PEG of 1.36. The Graham Number is $38.79, so the price is about 58.67% above that conservative value estimate. The FairStock Score is 48/100. The computed Lynch category is none because only 0 years of filed results are available, and it needs 3. Without more filed history, I cannot judge the growth trajectory with confidence. The latest quarter is profitable, but leverage and low returns on capital mean the current price already assumes a lot. I see a necessary asset base, but not a bargain.

In plain English: TC Energy owns and runs a large network of natural gas pipelines and energy infrastructure in Canada, the United States, and Mexico. The business produces solid cash and pays a 4.06% dividend, but it carries a lot of debt and earns only modest profits on the money invested in the business. At $61.55, the shares look expensive compared with the company's earnings and accounting value.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer