Last Price$44.80.2%
Market Cap$47.0B
DCF value
($3.6)
Overvalued (DCF value)
(107.9%)
Discount Rate
4.6%
Long-Term Growth Rate
1.5%
Stock quality
6/10
Good
TRP DCF Model
Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
| Dec'20 Actual | Dec'21 Actual | Dec'22 Actual | Dec'23 Actual | Dec'24 Actual | Dec'25 Estimate | Dec'26 Estimate | Dec'27 Estimate | Dec'28 Estimate | Dec'29 Estimate | Dec'30 Estimate | Dec'31 Estimate | Dec'32 Estimate | Dec'33 Estimate | Dec'34 Estimate | Dec'35 Terminal | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
% growth | 12,999.0 (1.9%) | 13,387.0 3.0% | 14,977.0 11.9% | 15,934.0 6.4% | 13,771.0 (13.6%) | 14,831.6 7.7% | 15,845.2 6.8% | 15,959.1 0.7% | 20,172.3 26.4% | 24,780.2 22.8% | 29,559.2 19.3% | 34,208.4 15.7% | 38,372.1 12.2% | 41,677.5 8.6% | 43,785.2 5.1% | 44,442.0 1.5% |
% margin | 6,996.0 53.8% | 7,248.0 54.1% | 7,279.0 48.6% | 10,530.0 66.1% | 5,786.0 42.0% | 6,541.3 44.1% | 6,988.4 44.1% | 7,038.6 44.1% | 8,896.8 44.1% | 10,929.1 44.1% | 13,036.8 44.1% | 15,087.3 44.1% | 16,923.6 44.1% | 18,381.5 44.1% | 19,311.1 44.1% | 19,600.7 44.1% |
NOPAT % effective tax rate | 6,730.2 51.8% | 6,846.4 51.1% | 4,158.7 27.8% | 8,056.4 50.6% | 4,882.7 35.5% | 5,520.1 37.2% | 5,897.4 37.2% | 5,939.8 37.2% | 7,507.9 37.2% | 9,222.9 37.2% | 11,001.6 37.2% | 12,732.0 37.2% | 14,281.6 37.2% | 15,511.9 37.2% | 16,296.4 37.2% | 16,540.8 37.2% |
% of revenue | 2,590.0 19.9% | 2,522.0 18.8% | 2,584.0 17.3% | 2,778.0 17.4% | 2,788.0 20.2% | 2,715.8 18.3% | 2,901.4 18.3% | 2,922.3 18.3% | 3,693.7 18.3% | 4,537.5 18.3% | 5,412.6 18.3% | 6,263.9 18.3% | 7,026.3 18.3% | 7,631.6 18.3% | 8,017.5 18.3% | 8,137.8 18.3% |
% of revenue | (8,135.0) (62.6%) | (5,924.0) (44.3%) | (6,727.0) (44.9%) | (8,149.0) (51.1%) | (6,358.0) (46.2%) | (7,031.5) (47.4%) | (7,512.1) (47.4%) | (7,566.1) (47.4%) | (9,563.5) (47.4%) | (11,748.1) (47.4%) | (14,013.8) (47.4%) | (16,217.9) (47.4%) | (18,191.8) (47.4%) | (19,758.9) (47.4%) | (20,758.2) (47.4%) | (21,069.5) (47.4%) |
% of revenue | (327.0) (2.5%) | (287.0) (2.1%) | (639.0) (4.3%) | 207.0 1.3% | 199.0 1.4% | (75.3) (0.5%) | (80.4) (0.5%) | (81.0) (0.5%) | (102.4) (0.5%) | (125.7) (0.5%) | (150.0) (0.5%) | (173.6) (0.5%) | (194.7) (0.5%) | (211.5) (0.5%) | (222.2) (0.5%) | (225.5) (0.5%) |
Free Cash Flow to Firm (FCFF) % of revenue | 858.2 6.6% | 3,157.4 23.6% | (623.3) (4.2%) | 2,892.4 18.2% | 1,511.7 11.0% | 1,129.2 7.6% | 1,206.4 7.6% | 1,215.0 7.6% | 1,535.8 7.6% | 1,886.6 7.6% | 2,250.4 7.6% | 2,604.4 7.6% | 2,921.4 7.6% | 3,173.0 7.6% | 3,333.5 7.6% | 3,383.5 7.6% |
% of FCFF used in calculation | 83.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | ||||||
Discount period | 0.50 | 1.50 | 2.50 | 3.50 | 4.50 | 5.50 | 6.50 | 7.50 | 8.50 | 9.50 | ||||||
Discount factor | 0.98 | 0.93 | 0.89 | 0.85 | 0.82 | 0.78 | 0.75 | 0.71 | 0.68 | 0.65 | ||||||
Discounted FCFF (DFCFF) | 916.5 | 1,127.6 | 1,085.7 | 1,311.9 | 1,540.6 | 1,756.8 | 1,943.6 | 2,084.1 | 2,164.0 | 2,173.3 |
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TRP DCF Value
DCF Value Calculation
as of Mar 03, 2025
Sum of DFCFF
% share of EV
16.1B
30.0%
Terminal Value (TV)
57.6B
Discounted TV
% share of EV
37.6B
70.0%
Total Debt
59.9B
(5,396.0M)
Shares outstanding
1,049.1M
FX rate
0.7
(3.6)
107.9% overvalued
Equity Value Bridge
TRP DCF Financials
Revenue
CA$13.8B -> CA$43.8B
12.3% CAGR
Operating Income
CA$5,786.0M -> CA$19.3B
12.8% CAGR
FCFF
CA$1,511.7M -> CA$3,333.5M
8.2% CAGR
TRP DCF sensitivity
DCF value
Long-term Terminal growth rate
0.5%
1.0%
1.5%
2.0%
2.5%
WACC
4.0%
($2.0)
($2.0)
($2.0)
($2.0)
($2.0)
4.5%
($3.0)
($3.0)
($3.0)
($3.0)
($3.0)
4.6%
($4.0)
($4.0)
($4.0)
($4.0)
($4.0)
5.5%
($5.0)
($5.0)
($5.0)
($5.0)
($5.0)
6.0%
($6.0)
($6.0)
($6.0)
($6.0)
($6.0)
DCF value, undervalued / overvalued
Long-term Terminal growth rate
0.5%
1.0%
1.5%
2.0%
2.5%
WACC
4.0%
(104.0%)
(104.0%)
(104.0%)
(104.0%)
(104.0%)
4.5%
(107.0%)
(107.0%)
(107.0%)
(107.0%)
(107.0%)
4.6%
(109.0%)
(109.0%)
(109.0%)
(109.0%)
(109.0%)
5.5%
(111.0%)
(111.0%)
(111.0%)
(111.0%)
(111.0%)
6.0%
(113.0%)
(113.0%)
(113.0%)
(113.0%)
(113.0%)
Explore more intrinsic value tools hub for TRP
Margin of safety
Peter Lynch charts
Ben Graham Fair Value
Earnings Power Value
Relative Value
Earnings growth model
Discount rate
Peter Lynch Fair Value
Intrinsic Value
Reverse DCF
FAQ
What is TC Energy Corporation DCF (discounted cash flow) valuation?
As of Mar 03, 2025, TC Energy Corporation's Discounted Cash Flow (DCF) valuation estimates its share price at ($3.6). This suggests it may be overvalued by (107.9%) compared to its current price of around $44.8, using a WACC of 4.6% and growth rates of 1.5%.
What is TC Energy Corporation WACC?
As of Mar 03, 2025, TC Energy Corporation's Weighted Average Cost of Capital (WACC) is approximately 4.6%.
What is TC Energy Corporation Enterprise Value?
As of Mar 03, 2025, TC Energy Corporation's Enterprise Value (EV) is approximately CA$53.7B. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.