TransCanada PipeLines Limited 6 (TCPA) Financial Ratios
14 years of historical data (2006–2019) · Industrials · Oil & Gas Midstream
EV/EBITDA
9.76
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: N/A
P/B Ratio
0.89
—
5yr avg: N/A
ROE
↑
13.4%
↓+90% vs avg
5yr avg: 7.1%
30Y Low-5%·High14%
Debt/EBITDA
↓
6.31
↓-6% vs avg
5yr avg: 6.73
30Y Low4.1·High7.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
TCPA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
TransCanada PipeLines Limited 6 trades at 7.3x earnings, sitting at the 50th percentile of its historical range. Compared to the Industrials sector median P/E of 25.5x, the stock trades at a discount of 71%.
| Metric | TTM | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $22.3B | — | — | — | — | — | — | — | — | — | — |
| Enterprise Value | $60.2B | — | — | — | — | — | — | — | — | — | — |
| P/E Ratio → | 7.29 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.23 | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 0.89 | — | — | — | — | — | — | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | 3.99 | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
TCPA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
TransCanada PipeLines Limited 6's enterprise value stands at 9.8x EBITDA. The Industrials sector median is 13.8x, placing the stock at a 29% discount on an enterprise-value basis.
| Metric | TTM | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | 9.76 | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | 14.12 | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
TCPA Profitability
Margins and return-on-capital ratios measuring operating efficiency
TransCanada PipeLines Limited 6 earns an operating margin of 42.5%, significantly above the Industrials sector average of 4.9%. Operating margins have expanded from 34.0% to 42.5% over the past 3 years, signaling improving operational efficiency. ROE of 13.4% is modest. ROIC of 5.2% represents adequate returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.1% | 48.1% | 43.8% | 38.2% | 37.8% | 37.2% | 37.3% | 38.0% | 37.4% | 40.7% | 44.7% |
| Operating Margin | 42.5% | 42.5% | 39.4% | 34.0% | 33.5% | 32.6% | 32.7% | 33.0% | 31.8% | 34.9% | 33.4% |
| Net Profit Margin | 31.9% | 31.9% | 28.1% | 23.4% | 2.5% | -10.1% | 18.0% | 20.2% | 17.0% | 19.4% | 15.5% |
Return on Capital
| Metric | TTM | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.4% | 13.4% | 12.3% | 12.9% | 1.5% | -4.8% | 8.0% | 8.5% | 7.2% | 8.5% | 8.0% |
| ROA | 4.3% | 4.3% | 3.8% | 3.8% | 0.4% | -1.6% | 3.0% | 3.3% | 2.8% | 3.1% | 2.8% |
| ROIC | 5.2% | 5.2% | 5.0% | 5.1% | 5.2% | 4.8% | 4.9% | 4.8% | 4.8% | 5.1% | 5.4% |
| ROCE | 6.6% | 6.6% | 6.1% | 6.2% | 6.3% | 6.0% | 6.2% | 6.1% | 6.0% | 6.3% | 6.7% |
TCPA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
TransCanada PipeLines Limited 6 carries a Debt/EBITDA ratio of 6.3x, which is highly leveraged (98% above the sector average of 3.2x). Net debt stands at $37.8B ($38.9B total debt minus $1.1B cash). Interest coverage of just 2.2x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.56 | 1.56 | 1.62 | 1.62 | 2.01 | 1.75 | 1.29 | 1.27 | 1.15 | 1.14 | 1.49 |
| Debt / EBITDA | 6.31 | 6.31 | 6.66 | 6.55 | 7.61 | 6.51 | 5.89 | 6.18 | 5.67 | 5.32 | 6.07 |
| Net Debt / Equity | — | 1.51 | 1.60 | 1.57 | 1.95 | 1.68 | 1.25 | 1.23 | 1.12 | 1.11 | 1.44 |
| Net Debt / EBITDA | 6.14 | 6.14 | 6.59 | 6.37 | 7.41 | 6.26 | 5.71 | 5.98 | 5.53 | 5.17 | 5.88 |
| Debt / FCF | — | — | — | — | 52.43 | 144.65 | 53.68 | — | 22.76 | 20.00 | — |
| Interest Coverage | 2.20 | 2.20 | 2.31 | 2.23 | 2.20 | 2.59 | 2.67 | 2.73 | 2.49 | 2.57 | 3.58 |
TCPA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.59x is below 1.0, meaning current liabilities exceed current assets — though the company's $1.1B cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.47x to 0.59x over the past 3 years.
| Metric | TTM | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.59 | 0.59 | 0.40 | 0.47 | 0.80 | 0.84 | 0.76 | 0.87 | 0.65 | 0.70 | 0.81 |
| Quick Ratio | 0.56 | 0.56 | 0.36 | 0.44 | 0.77 | 0.79 | 0.73 | 0.83 | 0.61 | 0.65 | 0.74 |
| Cash Ratio | 0.11 | 0.11 | 0.04 | 0.15 | 0.17 | 0.24 | 0.16 | 0.19 | 0.14 | 0.18 | 0.13 |
| Asset Turnover | — | 0.13 | 0.13 | 0.16 | 0.14 | 0.17 | 0.17 | 0.16 | 0.16 | 0.16 | 0.17 |
| Inventory Turnover | 14.92 | 14.92 | 17.19 | 22.06 | 21.51 | 21.97 | 21.99 | 21.82 | 22.33 | 18.86 | 10.51 |
| Days Sales Outstanding | — | 72.33 | 74.66 | 68.20 | 60.01 | 125.21 | 150.10 | 162.30 | 96.55 | 86.28 | 119.42 |
TCPA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
TransCanada PipeLines Limited 6 returns 6.2% to shareholders annually primarily through dividends. A payout ratio of 43.4% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 13.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.2% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 43.4% | 43.4% | 42.4% | 42.4% | 502.2% | — | 73.0% | 53.8% | 91.8% | 77.7% | 86.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 13.7% | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 6.2% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $931M | $918M | $881M | $0 | $779M | $775M | $750M | $738M | $732M | $0 |
Peer Comparison
Compare TCPA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 TCPAYou | $22B | 7.3 | 9.8 | — | 48.1% | 42.5% | 13.4% | 5.2% | 6.3 |
 TRP | $68B | 27.2 | 16.2 | 44.5 | 50.0% | 44.2% | 9.3% | 5.2% | 6.4 |
 ENB | $118B | 16.8 | 7.4 | 35.7 | — | 16.8% | 17.9% | 6.9% | 0.4 |
 KMI | $70B | 23.0 | 14.1 | 21.8 | 43.7% | 28.4% | 9.5% | 5.6% | 4.5 |
 WMB | $89B | 34.1 | 17.6 | 88.8 | 42.9% | 36.8% | 17.5% | 7.7% | 4.4 |
 ET | $69B | 14.8 | 9.4 | 17.8 | 21.8% | 11.4% | 10.2% | 6.3% | 4.9 |
 EPD | $82B | 14.2 | 12.1 | 27.5 | 13.6% | 13.1% | 19.3% | 8.3% | 3.7 |
 OKE | $54B | 15.8 | 10.2 | 22.1 | 21.5% | 20.7% | 15.2% | 9.6% | 3.9 |
 TRGP | $54B | 29.6 | 14.4 | 92.9 | 26.5% | 20.1% | 48.4% | 13.2% | 3.5 |
 DT | $12B | 25.4 | 49.0 | 27.9 | 81.2% | 10.6% | 20.9% | 9.0% | 0.3 |
 PAA | $16B | 30.3 | 10.5 | 8.3 | 3.4% | 2.4% | 5.8% | 4.2% | 3.6 |
| Industrials Median | — | 25.5 | 13.8 | 20.7 | 32.7% | 4.9% | 8.2% | 6.3% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 14 years · Updated daily
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Start ComparisonTCPA — Frequently Asked Questions
Quick answers to the most common questions about buying TCPA stock.
What is TransCanada PipeLines Limited 6's P/E ratio?
TransCanada PipeLines Limited 6's current P/E ratio is 7.3x. This places it at the 50th percentile of its historical range.
What is TransCanada PipeLines Limited 6's EV/EBITDA?
TransCanada PipeLines Limited 6's current EV/EBITDA is 9.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
What is TransCanada PipeLines Limited 6's ROE?
TransCanada PipeLines Limited 6's return on equity (ROE) is 13.4%. The historical average is 8.8%.
Is TCPA stock overvalued?
Based on historical data, TransCanada PipeLines Limited 6 is trading at a P/E of 7.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is TransCanada PipeLines Limited 6's dividend yield?
TransCanada PipeLines Limited 6's current dividend yield is 6.21% with a payout ratio of 43.4%.
What are TransCanada PipeLines Limited 6's profit margins?
TransCanada PipeLines Limited 6 has 48.1% gross margin and 42.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does TransCanada PipeLines Limited 6 have?
TransCanada PipeLines Limited 6's Debt/EBITDA ratio is 6.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.