WallStSmart

TC Energy Corp (TRP)vsWestern Midstream Partners LP (WES)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

TC Energy Corp generates 282% more annual revenue ($15.48B vs $4.05B). WES leads profitability with a 29.5% profit margin vs 22.2%. TRP appears more attractively valued with a PEG of 4.45. WES earns a higher WallStSmart Score of 63/100 (C+).

TRP

Buy

55

out of 100

Grade: C

Growth: 4.7Profit: 7.5Value: 3.3Quality: 3.0
Piotroski: 4/9Altman Z: 0.48

WES

Buy

63

out of 100

Grade: C+

Growth: 6.7Profit: 9.0Value: 4.7Quality: 3.8
Piotroski: 2/9
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

TRPSignificantly Overvalued (-49.2%)

Margin of Safety

-49.2%

Fair Value

$40.83

Current Price

$68.68

$27.85 premium

UndervaluedFair: $40.83Overvalued
WESFair Value (-0.3%)

Margin of Safety

-0.3%

Fair Value

$42.30

Current Price

$44.37

$2.07 premium

UndervaluedFair: $42.30Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

TRP4 strengths · Avg: 9.0/10
Operating MarginProfitability
47.5%10/10

Strong operational efficiency at 47.5%

Market CapQuality
$71.02B9/10

Large-cap with strong market position

Profit MarginProfitability
22.2%9/10

Keeps 22 of every $100 in revenue as profit

Free Cash FlowQuality
$1.10B8/10

Generating 1.1B in free cash flow

WES5 strengths · Avg: 9.0/10
Return on EquityProfitability
35.7%10/10

Every $100 of equity generates 36 in profit

Operating MarginProfitability
41.1%10/10

Strong operational efficiency at 41.1%

Profit MarginProfitability
29.5%9/10

Keeps 30 of every $100 in revenue as profit

P/E RatioValuation
14.7x8/10

Attractively priced relative to earnings

Revenue GrowthGrowth
22.5%8/10

Revenue surging 22.5% year-over-year

Areas to Watch

TRP4 concerns · Avg: 2.5/10
P/E RatioValuation
28.1x4/10

Moderate valuation

PEG RatioValuation
4.452/10

Expensive relative to growth rate

EPS GrowthGrowth
-8.5%2/10

Earnings declined 8.5%

Altman Z-ScoreHealth
0.482/10

Distress zone — elevated risk

WES3 concerns · Avg: 2.0/10
Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

PEG RatioValuation
5.482/10

Expensive relative to growth rate

Debt/EquityHealth
2.591/10

Elevated debt levels

Comparative Analysis Report

WallStSmart Research

Bull Case : TRP

The strongest argument for TRP centers on Operating Margin, Market Cap, Profit Margin. Profitability is solid with margins at 22.2% and operating margin at 47.5%.

Bull Case : WES

The strongest argument for WES centers on Return on Equity, Operating Margin, Profit Margin. Profitability is solid with margins at 29.5% and operating margin at 41.1%. Revenue growth of 22.5% demonstrates continued momentum.

Bear Case : TRP

The primary concerns for TRP are P/E Ratio, PEG Ratio, EPS Growth. Debt-to-equity of 2.25 is elevated, increasing financial risk.

Bear Case : WES

The primary concerns for WES are Piotroski F-Score, PEG Ratio, Debt/Equity. Debt-to-equity of 2.59 is elevated, increasing financial risk.

Key Dynamics to Monitor

TRP profiles as a mature stock while WES is a growth play — different risk/reward profiles.

TRP carries more volatility with a beta of 0.98 — expect wider price swings.

WES is growing revenue faster at 22.5% — sustainability is the question.

TRP generates stronger free cash flow (1.1B), providing more financial flexibility.

Bottom Line

WES scores higher overall (63/100 vs 55/100), backed by strong 29.5% margins and 22.5% revenue growth. 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.

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.

Western Midstream Partners LP

ENERGY · OIL & GAS MIDSTREAM · USA

Western Midstream Partners, LP, acquires, owns, develops and operates midstream assets primarily in the United States.

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