TRPTC Energy Corporation
Is it safe?
Mostly sound, with a caveat: steady price behavior, but heavy debt (BB).
Moderately leveraged. A rule of thumb on leverage, not a credit rating.
Relatively steady, low volatility. Worst drawdown -42% · now 15% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can TRP take a bad year?
TC Energy Corporation carries $49.5B of net debt at 4.58× EBITDA: a heavy load to carry through a bad year.
Net debt · as at FY2025 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 4.58×
Net debt / EBITDA · 4.72× a year ago · the load is coming down
- Interest cover
- 2.36×
Interest cover · operating profit covers the interest bill, with room to spare
- Annualised volatility
- 21%
Annualised volatility · about as steady as the market itself
Details›
- Total debtFY2025
- $49.7B
- Cash and short-term investments
- $168M
- Net debt
- $49.5B
- EBITDA, trailing twelve months
- $10.8B
- Operating profit, trailing twelve months
- $8.04B
- Debt / equity
- 1.82×
- Total debt / EBITDA
- 4.60×
- Annualised volatilitytwo years of daily moves
- 21%
- Worst drawdown on file
- −42%
- Below its 52-week high
- 15%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.