TC Energy Corporation (TRP.TO) stock analysis

In our weekly check, TC Energy Corporation is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 18 pass, warnings: 5, red flags: 2.

About TC Energy Corporation

TC Energy Corporation is an Energy company (Oil & Gas Midstream) based in Canada, listed on TSX as TRP.TO.

What our checks show for TRP.TO

Red flags

• Net debt is 5.5x a year of EBITDA (debt/equity 2.3). That limits room in a downturn and raises refinancing risk.
• The dividend takes 102% of profit: little cushion if profit falls.

Warning signs

• Operating profit covers interest only 2.2 times: a weak year could make the payments hard.
• Analysts expect only about 3.9% a year of growth in revenue.
• The stock has fallen as much as 41% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 1.9 years.
• Return on capital (ROCE) is only 6.6%.

Strengths

• The net margin rose by 7.9 points over 5 years, to 22.5%.
• The gross margin is 51.5% and has risen by 1.6 points: pricing power is holding.
• Operating cash flow is 2.4x net profit: the profit arrives as real cash.
• Analysts expect the net margin to improve by 2 points from today's 22.5%.
• Earnings per share grew 73.3% a year over the last 3 years.
• Net profit grew 68.8% a year over the last 3 years.

Next earnings report: 2026-11-05

Similar companies

TRGP · LNG · OKE · MPLX · KMI · EPD

Questions

What grade does TC Energy Corporation (TRP.TO) have?

In our weekly check, TC Energy Corporation is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 18 pass, warnings: 5, red flags: 2. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of TRP.TO stock?

This week's biggest flags for TC Energy Corporation: High debt, Dividend stretched, Weak interest cover. In total 7 of 25 checks show a warning or a red flag.

What does TC Energy Corporation do?

TC Energy Corporation is an Energy company (Oil & Gas Midstream) based in Canada, listed on TSX as TRP.TO.

When does TC Energy Corporation report earnings next?

The next earnings report is expected on 2026-11-05. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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