SU vs TRP: which stock is the better value?

Suncor looks cheaper on two of the three valuation measures in this snapshot, while TC Energy has the lower PEG. That gives investors a starting point for comparison, not a verdict on either stock.

Suncor Energy Inc. (SU.TO) and TC Energy Corp. (TRP.TO) are both Canadian energy companies, but their businesses and valuations differ. At the November 4, 2026 adjusted close, Suncor traded at C$100.84, with a market capitalization of C$119.1 billion. TC Energy closed at C$87.52, with a market capitalization of C$92.6 billion. In the supplied snapshot, Suncor has the lower P/E and P/B, while TC Energy has the lower PEG. Share prices alone don’t show which stock offers better value.

Investor takeaway: Suncor has the lower P/E, at 10.2 versus TC Energy’s 25.3, and the lower P/B, at 2.67 versus 3.58. But TC Energy’s PEG is 2.36, compared with Suncor’s 11.41. These figures don’t prove that Suncor is undervalued or that TC Energy is expensive. Valuation multiples show only part of the picture, and this snapshot doesn’t explain the assumptions behind them or how the companies’ prospects differ. Suncor also has higher trailing-twelve-month ROE, while TC Energy has the higher dividend yield.

Suncor is lower on P/E and P/B; TC Energy is lower on PEG

Suncor’s P/E is 10.2, compared with 25.3 for TC Energy. Its P/B is also lower, at 2.67 versus 3.58. But TC Energy’s PEG is 2.36, compared with Suncor’s 11.41. The measures point in different directions. Suncor has the lower figure on two of the three, but that doesn’t prove it’s the better investment.

How the valuation measures compare

Suncor has the lower P/E in this snapshot: 10.2, compared with 25.3 for TC Energy. Its P/B is also lower, at 2.67 versus 3.58. The order reverses for PEG: TC Energy is at 2.36 and Suncor at 11.41. So Suncor looks cheaper on two of the three supplied measures, but they don’t all point the same way. A lower multiple doesn’t prove a stock is undervalued, and these figures alone don’t explain differences in business outlook or risk. See the Suncor stock page and TC Energy stock page for each company’s profile.

Yield, returns and the limits of this snapshot

The snapshot also shows differences in ROE and dividend yield. Suncor’s ROE TTM is 19.3%, compared with 11.8% for TC Energy. TC Energy’s dividend yield is 3.88%, while Suncor’s is listed as 0.00%. These figures don’t provide a complete picture of future returns or dividend prospects. Both companies have a supplied analyst consensus label of Strong Sell, and each has a listed analyst target of C$0.00. Treat these as reported data, not as a prediction of what will happen. Investors comparing the two may also want to look at each company’s business, financial position and risks.