WallStSmart

MPLX LP (MPLX)vsTC Energy Corp (TRP)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

TC Energy Corp generates 30% more annual revenue ($15.69B vs $12.03B). MPLX leads profitability with a 39.3% profit margin vs 22.9%. TRP appears more attractively valued with a PEG of 2.97. TRP earns a higher WallStSmart Score of 63/100 (C+).

MPLX

Buy

60

out of 100

Grade: C

Growth: 4.7Profit: 9.0Value: 4.0Quality: 3.8
Piotroski: 3/9

TRP

Buy

63

out of 100

Grade: C+

Growth: 6.7Profit: 7.5Value: 3.3Quality: 3.0
Piotroski: 4/9Altman Z: 0.54
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

MPLXSignificantly Overvalued (-24.5%)

Margin of Safety

-24.5%

Fair Value

$47.07

Current Price

$59.16

$12.09 premium

UndervaluedFair: $47.07Overvalued
TRPSignificantly Overvalued (-44.2%)

Margin of Safety

-44.2%

Fair Value

$42.26

Current Price

$60.48

$18.22 premium

UndervaluedFair: $42.26Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

MPLX5 strengths · Avg: 9.4/10
Return on EquityProfitability
33.8%10/10

Every $100 of equity generates 34 in profit

Profit MarginProfitability
39.3%10/10

Keeps 39 of every $100 in revenue as profit

Operating MarginProfitability
38.3%10/10

Strong operational efficiency at 38.3%

Market CapQuality
$60.51B9/10

Large-cap with strong market position

P/E RatioValuation
13.0x8/10

Attractively priced relative to earnings

TRP4 strengths · Avg: 9.0/10
Operating MarginProfitability
44.3%10/10

Strong operational efficiency at 44.3%

Market CapQuality
$64.22B9/10

Large-cap with strong market position

Profit MarginProfitability
22.9%9/10

Keeps 23 of every $100 in revenue as profit

Free Cash FlowQuality
$1.33B8/10

Generating 1.3B in free cash flow

Areas to Watch

MPLX4 concerns · Avg: 3.0/10
EPS GrowthGrowth
3.2%4/10

3.2% earnings growth

Debt/EquityHealth
1.853/10

Elevated debt levels

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
3.092/10

Expensive relative to growth rate

TRP3 concerns · Avg: 1.7/10
PEG RatioValuation
2.972/10

Expensive relative to growth rate

Altman Z-ScoreHealth
0.542/10

Distress zone — elevated risk

Debt/EquityHealth
2.301/10

Elevated debt levels

Comparative Analysis Report

WallStSmart Research

Bull Case : MPLX

The strongest argument for MPLX centers on Return on Equity, Profit Margin, Operating Margin. Profitability is solid with margins at 39.3% and operating margin at 38.3%. Revenue growth of 10.6% demonstrates continued momentum.

Bull Case : TRP

The strongest argument for TRP centers on Operating Margin, Market Cap, Profit Margin. Profitability is solid with margins at 22.9% and operating margin at 44.3%.

Bear Case : MPLX

The primary concerns for MPLX are EPS Growth, Debt/Equity, Piotroski F-Score. Debt-to-equity of 1.85 is elevated, increasing financial risk.

Bear Case : TRP

The primary concerns for TRP are PEG Ratio, Altman Z-Score, Debt/Equity. Debt-to-equity of 2.30 is elevated, increasing financial risk.

Key Dynamics to Monitor

TRP carries more volatility with a beta of 0.95 — expect wider price swings.

MPLX is growing revenue faster at 10.6% — sustainability is the question.

TRP generates stronger free cash flow (1.3B), providing more financial flexibility.

Monitor OIL & GAS MIDSTREAM industry trends, competitive dynamics, and regulatory changes.

Bottom Line

TRP scores higher overall (63/100 vs 60/100), backed by strong 22.9% margins. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

MPLX LP

ENERGY · OIL & GAS MIDSTREAM · USA

MPLX LP owns and operates energy infrastructure and midstream logistics assets primarily in the United States.

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TC Energy Corp

ENERGY · OIL & GAS MIDSTREAM · USA

TC Energy Corporation is an energy infrastructure company in North America. The company is headquartered in Calgary, Canada.

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