TransCanada PipeLines Limited 6(TCPA)Earnings, Financials & Key Ratios
TCPA•NYSE
$23.06
7.0× P/E·Price updated Jun 30, 2026
AboutTransCanada PipeLines Ltd. provides pipeline services for the gas and oil industries. It operates through the following segments: Natural Gas Pipelines, Liquids Pipelines and Power and Storage. The company was founded on March 21, 1951 and is headquartered in Calgary, Canada.Show more
- Revenue$10.02B+3.9%
- EBITDA$6.16B+11.5%
- Net Income$3.19B+17.8%
- EPS (Diluted)3.29+14.6%
- Gross Margin48.11%+10.0%
- EBITDA Margin61.48%+7.3%
- Operating Margin42.52%+7.8%
- Net Margin31.86%+13.4%
- ROE13.39%+9.1%
TCPA Price & Volume
TransCanada PipeLines Limited 6 (TCPA) stock price & volume — 10-year historical chart
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Capital Intensity Challenges Amidst Persistent Leverage
Investment Thesis • Updated 2021Q3
VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Strained
Cash Flow:Mixed
Primary Risk:Capital intensity and leverage
Key Thesis Takeaways
- TransCanada PipeLines Limited maintains a massive infrastructure moat, yet its reliance on debt-funded expansion to support a $54.6B net PPE base creates significant long-term structural risks.
- While the company demonstrates resilient gross margins near 48%, the inconsistent free cash flow generation and high capital expenditure requirements—often exceeding 60% of revenue—suggest that dividend sustainability may remain under pressure.
- Investors should monitor the company's ability to improve its current ratio, which recently sat at 0.51, to ensure sufficient liquidity for ongoing project execution.
Verdict Logic
while the 6.4% dividend yield is attractive, the company's reliance on debt to fund operations and a current ratio of 0.51 suggest that investors should exercise caution regarding long-term balance sheet stability.
TCPA Growth Metrics
TransCanada PipeLines Limited 6 (TCPA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years1.6%
5 Years2.52%
3 Years1.82%
TTM6.68%
Profit CAGR
10 Years9.27%
5 Years14.94%
3 Years137.15%
TTM-58.77%
EPS CAGR
10 Years-
5 Years9.92%
3 Years122.17%
TTM-62.02%
Return on Capital
10 Years6.24%
5 Years6.23%
3 Years6.29%
Last Year6.58%
Peers Comparison
Key metrics vs top competitors for TransCanada PipeLines Limited 6 (TCPA)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $23.06 | $23.34B | 7.01 | 3.91% | 31.86% | 13.39% | 6.46% | |
| $68.50 | $71.36B | 29.73 | 10.29% | 21.83% | 9.23% | — | |
| $55.40 | $120.98B | 24.27 | 21.92% | 9.71% | 9.96% | — | |
| $32.27 | $71.79B | 23.55 | 12.45% | 18.92% | 10.27% | — | |
| $75.06 | $91.8B | 35.07 | 13.78% | 23.82% | 18.98% | — | |
| $19.06 | $65.57B | 14.12 | -0.05% | 6.21% | 11.56% | — |
Compare TCPA vs Peers
TransCanada PipeLines Limited 6 (TCPA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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TCPA Frequently Asked Questions
TransCanada PipeLines Limited 6 (TCPA) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is TransCanada PipeLines Limited 6's revenue?
TransCanada PipeLines Limited 6 (TCPA) reported $10.02B in revenue for fiscal year 2019. This represents a 55% increase from $6.46B in 2006.
How fast is TransCanada PipeLines Limited 6 growing?
TransCanada PipeLines Limited 6 (TCPA) grew revenue by 3.9% over the past year. Growth has been modest.
Is TCPA profitable?
Yes, TransCanada PipeLines Limited 6 (TCPA) is profitable, generating $1.35B in net income for fiscal year 2019 (31.9% net margin).
Dividend & Returns
Does TCPA pay dividends?
Yes, TransCanada PipeLines Limited 6 (TCPA) pays a dividend with a yield of 6.46%. This makes it attractive for income-focused investors.
What is TCPA's return on equity?
TransCanada PipeLines Limited 6 (TCPA) has a return on equity (ROE) of 13.4%. This is reasonable for most industries.
What is TransCanada PipeLines Limited 6's free cash flow?
TransCanada PipeLines Limited 6 (TCPA) generated $418.1M in free cash flow for fiscal year 2019. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.