Emera screens cheaper than TransAlta on all three valuation measures in this snapshot. That’s a useful starting point, but it doesn’t prove Emera is undervalued or the better investment.
Emera Inc. (EMA.TO) and TransAlta Corp. (TA.TO) are both in the utilities sector, but their figures differ. At the November 4, 2026 adjusted close, Emera traded at C$71.57 per share and had a C$21.5 billion market cap. TransAlta closed at C$18.57, with a C$5.9 billion market cap. A lower share price doesn’t mean a stock is cheaper. Based on the P/E, PEG and P/B figures provided, Emera has the lower multiple on all three measures. Those figures show how the stocks compare on these measures, not what either company is worth.
Investor takeaway: Emera has lower P/E, PEG and P/B multiples, as well as a higher dividend yield in this snapshot. That doesn’t prove its shares are undervalued, its business is less risky or it will outperform TransAlta. This is a comparison of the figures provided, not a forecast.
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Emera Inc.
EMA.TO
Utilities
$71.57
$21.53B
1D
+2.13%
1W
+4.99%
TransAlta Corp
TA.TO
Utilities
$18.57
$5.87B
1D
+0.27%
1W
+1.53%
Emera has the lower multiple across all three measures
Emera’s P/E is 22.2, compared with 168.8 for TransAlta. Its PEG is 2.80 versus 6.98, and its P/B is 1.70 versus 6.33. These figures favour Emera on the measures shown, but multiples alone can’t tell you whether either stock is fairly valued.
Bull case
Emera’s P/E of 22.2, PEG of 2.80 and P/B of 1.70 are all below TransAlta’s. Its dividend yield is also higher: 4.18% compared with 1.46%. These figures may be worth looking into, but they aren’t a reason on their own to buy the stock.
Bear case
Emera’s lower multiples don’t show that the market has mispriced its shares. The snapshot reports a 7.6% trailing-twelve-month ROE for Emera, and the supplied analyst consensus is Strong Sell. TransAlta also has a Strong Sell rating, but neither rating tells you whether a stock is fairly valued.
How the valuation snapshot compares
Emera has lower multiples on all three measures provided: a P/E of 22.2 versus 168.8 for TransAlta, a PEG of 2.80 versus 6.98, and a P/B of 1.70 versus 6.33. The table shows the differences. It also shows why share price alone doesn’t tell you which company offers better value.
| Measure | Emera (EMA.TO) | TransAlta (TA.TO) |
|---|---|---|
| Adjusted close (Nov. 4, 2026) | C$71.57 | C$18.57 |
| Market cap | C$21.5B | C$5.9B |
| P/E | 22.2 | 168.8 |
| PEG | 2.80 | 6.98 |
| P/B | 1.70 | 6.33 |
| Dividend yield | 4.18% | 1.46% |
| ROE TTM | 7.6% | 6.1% |
Lower multiples don’t prove that Emera is undervalued. They also don’t explain why the market values the companies differently or account for factors outside this snapshot. For more context, see the company pages for Emera and TransAlta.
What the other figures add
Emera’s dividend yield is 4.18%, compared with 1.46% for TransAlta. Its trailing-twelve-month ROE is 7.6%, versus 6.1% for TransAlta. These figures add context, but they don’t show whether a dividend is sustainable or what future returns will be.
The supplied analyst consensus is Strong Sell for both companies, and the analyst target is C$0.00 for each. These are figures from the snapshot, not independent estimates of fair value. Overall, Emera screens cheaper on the multiples provided, but the comparison has limits.
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