Enterprise Products Partners L.P. (EPD) vs TC Energy Corporation (TRP)

Enterprise Products Partners L.P. and TC Energy Corporation are both Oil & Gas Midstream companies. Enterprise Products Partners L.P. is the larger, with a market value of $79.1B against $65.2B — 1.2× the size. Enterprise Products Partners L.P. trades at the lower P/E: 12.2× against 26.0×. TC Energy Corporation grew revenue faster over the last twelve months: 24.0% against 21.5%. TC Energy Corporation has the higher net margin (22.2% vs 0.00%) and the lower return on invested capital (5.39% vs 7.93%). Both pay a dividend; Enterprise Products Partners L.P. yields more (6.04% vs 3.99%). Across the 23 metrics below, Enterprise Products Partners L.P. leads on 16 and TC Energy Corporation on 7.

Valuation

Metric EPD TRP Oil & Gas Midstream median
P/E 12.17 26.02 11.68
P/S 1.23 5.76 2.39
P/B 2.54 2.57 1.68
Price to free cash flow 17.35 22.32 8.52
EV/EBITDA 10.58 13.36 9.03
EV/Sales 1.75 9.63 3.43
Earnings yield 8.22% 3.84% 7.78%
Free cash flow yield 5.77% 4.48% 7.11%

Profitability

Metric EPD TRP Oil & Gas Midstream median
Gross margin 12.50% 70.44% 54.87%
Operating margin 12.67% 53.94% 34.73%
Net margin 0.00% 22.19% 20.12%
Free cash flow margin 14.45% 25.80% 14.43%
Return on equity 0.00% 9.94% 11.73%
Return on assets 0.00% 2.89% 4.43%
Return on invested capital 7.93% 5.39% 6.10%

Growth

Metric EPD TRP Oil & Gas Midstream median
Revenue growth (TTM) 21.49% 24.04% 14.88%
EPS growth (last fiscal year) (1.12%) (27.55%) (7.78%)
Revenue growth, 5-year CAGR 14.10% 2.36% 10.05%
Net income growth, 5-year CAGR 8.80% (6.06%) 0.00%

Health

Metric EPD TRP Oil & Gas Midstream median
Debt to equity 1.07 1.68 0.77
Current ratio 0.93 0.61 1.19
Net debt to EBITDA 3.35 5.43 3.46

Dividend

Metric EPD TRP Oil & Gas Midstream median
Dividend yield 6.04% 3.99% 4.94%
Payout ratio 0.74 1.04 0.73

Size

Metric EPD TRP Oil & Gas Midstream median
Market cap 79.08b 65.20b 3.56b

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