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TC EnergyTRP -0.74%73 EV-to-OCF is 19.00 as of Aug. 14, 2026, which is 11% above its 10-year median of 17.09. GuruFocus rates TRP with a GF Score™ of 73/100 and a GF Value™ of $55.85 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 1,027 Oil & Gas companies, TC Energy ranks worse than 87.83% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, TC Energy's Enterprise Value is $118,542 Mil.
TC Energy's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was $6,238 Mil. Therefore, TC Energy's EV-to-OCF for today is 19.00.
The historical rank and industry rank for TC Energy's EV-to-OCF or its related term are showing as below:
TRP'
s EV-to-OCF Range Over the Past 10 Years
Min: 7.21 Med: 17.09 Max: 22.32
Current: 19.14
During the past 13 years, the highest EV-to-OCF of TC Energy was 22.32. The lowest was 7.21. And the median was 17.09.
TRP's EV-to-OCF is ranked worse than 87.83% of 1027
companies
in the Oil & Gas industry
Industry Median: 5.66
vs TRP: 19.14
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
TC Energy's share price for today is $63.14.
TC Energy's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2.404.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
TC Energy EV-to-OCF Related Terms
TC Energy EV-to-OCF Historical Data
* Premium members only.
The historical data trend for TC Energy's EV-to-OCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas Midstream subindustry, TC Energy's EV-to-OCF, along with its competitors' market caps and EV-to-OCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
TC Energy EV-to-OCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TC Energy's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where TC Energy's EV-to-OCF falls into.
TC Energy's current Enterprise Value is $118,542 Mil.
TC Energy's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $6,238 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TC Energy (TRP) has a EV-to-OCF of 19.00 as of Aug. 14, 2026. This is 11% above median its historical median of 17.09. Over the past decade, TC Energy's EV-to-OCF has ranged from 7.21 to 22.32. According to the industry distribution chart, TC Energy ranks #902 out of 1027 companies in the Oil & Gas industry, placing it in the top 87.8%.
Is TC Energy's EV-to-OCF too high?
TC Energy's current EV-to-OCF of 19.00 is 11% above median its 10-year median of 17.09. Over the past 10 years, this metric has ranged from a low of 7.21 to a high of 22.32. The Oil & Gas industry median EV-to-OCF is 5.66. TC Energy's value of 19.00 is 235.7% above this industry median. Based on the distribution chart, TC Energy ranks #902 out of 1027 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, TC Energy has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TC Energy's EV-to-OCF compare to WMB and EPD?
According to the Oil & Gas industry distribution chart, TC Energy ranks #902 out of 1027 companies for EV-to-OCF. This places TC Energy in the lower half of its industry. The industry median EV-to-OCF is 5.66. TC Energy's value of 19.00 is 235.7% above this benchmark. Historically, TC Energy's own EV-to-OCF has ranged from 7.21 to 22.32 over the past decade. While the company's 10-year median is 17.09 vs. the industry median of 5.66, TC Energy has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for an Oil & Gas company?
The median EV-to-OCF among Oil & Gas companies is 5.66, based on 1,027 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. TC Energy's current EV-to-OCF of 19.00 is 235.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Oil & Gas industry, the median EV-to-OCF is 5.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TC Energy's current EV-to-OCF is 19.00, which is 11% above median its own 10-year median of 17.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TC Energy stock overvalued right now?
Based on GuruFocus' analysis, TC Energy (TRP) is currently considered Modestly Overvalued. The stock's GF Value™ is $55.85, compared to a current price of $63.14 — trading 13.1% above its estimated fair value. The current EV-to-OCF is 19.00, which is 11% above median its 10-year median of 17.09 and 235.7% above the Oil & Gas industry median of 5.66. TC Energy's overall GF Score™ is 73/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For TC Energy (TRP), the current EV-to-OCF is 19.00 as of Aug. 14, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is TC Energy (TRP) Overvalued in 2026?
Based on GuruFocus' analysis, TC Energy stock appears to be overvalued.
The current stock price of $63.14 is trading 13.1% above its estimated GF Value™ of $55.85.
GuruFocus considers TC Energy to be Modestly Overvalued.
Key valuation signals for TRP:
EV-to-OCF: 19.00 (11% above median its 10-year median of 17.09)
GF Value™: $55.85 vs. price of $63.14 (13.1% above fair value)
Industry Position: 235.7% above the Oil & Gas median (#902 of 1027)
No single metric tells the full story. See the TRP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TC Energy operates natural gas transmission assets across North America. Segments are determined by country of operation, but both Canadian and US operations are interconnected. Mexican operations are disconnected from the US and only have one customer, the state utility CFE. They also operate power generation assets, with the largest being the Bruce Power nuclear plant.
73GF Score
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