TC Energy Corporation (TRP) vs Venture Global, Inc. (VG)

TC Energy Corporation and Venture Global, Inc. are both Oil & Gas Midstream companies. TC Energy Corporation is the larger, with a market value of $59.7B against $32.6B — 1.8× the size. Venture Global, Inc. trades at the lower P/E: 9.3× against 24.4×. Venture Global, Inc. grew revenue faster over the last twelve months: 100.7% against 24.0%. TC Energy Corporation has the higher net margin (22.2% vs 19.7%) and the lower return on invested capital (5.39% vs 7.86%). Across the 19 metrics below, Venture Global, Inc. leads on 12 and TC Energy Corporation on 7.

Valuation

Metric TRP VG Oil & Gas Midstream median
P/E 24.39 9.28 13.19
P/S 5.40 1.85 2.60
P/B 2.41 2.60 2.08
Price to free cash flow 20.92 n/m 10.14
EV/EBITDA 12.86 9.53 8.11
EV/Sales 9.27 4.13 3.89
Earnings yield 4.10% 10.78% 6.83%
Free cash flow yield 4.78% (22.25%) 6.94%

Profitability

Metric TRP VG Oil & Gas Midstream median
Gross margin 70.44% 53.48% 58.81%
Operating margin 53.94% 37.62% 32.14%
Net margin 22.19% 19.65% 21.16%
Free cash flow margin 25.80% (41.24%) 10.15%
Return on equity 9.94% 31.90% 11.30%
Return on assets 2.89% 6.17% 5.00%
Return on invested capital 5.39% 7.86% 6.13%

Growth

Metric TRP VG Oil & Gas Midstream median
Revenue growth (TTM) 24.04% 100.72% 15.44%
EPS growth (last fiscal year) (27.55%) 50.88% —
Revenue growth, 5-year CAGR 2.36% — 8.96%
Net income growth, 5-year CAGR (6.06%) — 0.00%

Health

Metric TRP VG Oil & Gas Midstream median
Debt to equity 1.68 3.46 0.78
Current ratio 0.61 1.19 1.19
Net debt to EBITDA 5.43 5.19 3.42

Dividend

Metric TRP VG Oil & Gas Midstream median
Dividend yield 7.37% — 7.29%
Payout ratio 4.07 — 0.64

Size

Metric TRP VG Oil & Gas Midstream median
Market cap 59.65b 32.58b 3.61b

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