CompanyGraph
What stands out
- Pays more per share than it earned over the last twelve months
At a glance
- Depends onMidstream position: 5 outgoing, 5 incoming connections
- ScaleMarket cap is $3.95B, above the global median of $1.16B
- PositionGross margin is 3.4%, lower than 95% of its Oil & Gas Midstream peers (median 40.3%)
- Interpretations3 currently firing — 3
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Sign inWhat the company actually pays, and whether its own cash supports it.
What stands out
- Pays more per share than it earned over the last twelve months
Dividends view
Yield
5.79%Below 5Y avg (6.60%)
Annual Rate
CAD 1.80Paid quarterly
Payout Ratio
176.0%High
Consecutive Growth
5 yr
Paying Dividends
15 yr
Payback Period
17.6 yr
Next Ex-Dividend
Sep 29, 2026
Last Payment
Jul 17, 2026
The reported statements, read against the company's own industry.
Financials view
Market Capitalization
5.44BCAD3.95B · vs all stocks (USD)
Trailing P/E
31.22xvs Oil & Gas Midstream peers
Revenue (TTM)
12.77BCAD9.28B · vs all stocks (USD)
Profit Margin
1.32%vs Oil & Gas Midstream peers
Beta
0.6020xvs all stocks
52-Week Change
18.80%vs all stocks
Forward Annual Dividend Yield
5.79%vs all stocks
Market Capitalization
5.44BCAD3.95B · vs all stocks (USD)
Enterprise Value
8.55BCAD6.21B · vs all stocks (USD)
Trailing P/E
31.22xvs Oil & Gas Midstream peers
Forward P/E
20.16xvs Oil & Gas Midstream peers
PEG Ratio
0.5377xvs Oil & Gas Midstream peers
Price to Sales (TTM)
0.4219xvs Oil & Gas Midstream peers
Price to Book (MRQ)
5.25xvs Oil & Gas Midstream peers
Enterprise to Revenue
0.6690xvs Oil & Gas Midstream peers
Enterprise to EBITDA
16.96xvs Oil & Gas Midstream peers
Gross Margin
3.38%vs Oil & Gas Midstream peers
Profit Margin
1.32%vs Oil & Gas Midstream peers
Operating Margin
2.86%vs Oil & Gas Midstream peers
Return on Assets (TTM)
4.29%vs Oil & Gas Midstream peers
Return on Equity (TTM)
17.93%vs Oil & Gas Midstream peers
Revenue (TTM)
12.77BCAD9.28B · vs all stocks (USD)
Revenue per Share (TTM)
76.24CADUpdated Aug 21, 2026Quarterly Revenue Growth
75.20%vs Oil & Gas Midstream peers
Gross Profit (TTM)
446.02MCAD324.14M · vs all stocks (USD)
EBITDA (TTM)
572.78MCAD416.26M · vs all stocks (USD)
Net Income (TTM)
168.52MCAD122.47M · vs all stocks (USD)
Quarterly Earnings Growth (YoY)
36.60%vs Oil & Gas Midstream peers
Operating Cash Flow (TTM)
506.11MCAD367.81M · vs all stocks (USD)
Levered Free Cash Flow (TTM)
210.00MCAD152.62M · vs all stocks (USD)
Forward Annual Dividend Rate
1.80CADUpdated Aug 21, 2026Forward Annual Dividend Yield
5.79%vs all stocks
Trailing Annual Dividend Rate
1.76CADUpdated Aug 21, 2026Trailing Annual Dividend Yield
5.66%vs all stocks
5-Year Average Dividend Yield
6.60%vs all stocks
Payout Ratio
176.00%vs Oil & Gas Midstream peers
Revenue
10.69BCADFY2025 · Dec 31, 2025Cost of Goods Sold
10.23BCADFY2025 · Dec 31, 2025Gross Profit
456.32MCADFY2025 · Dec 31, 2025Operating Income
370.47MCAD269.23M · vs all stocks (USD)
Pre-tax Income
254.42MCADFY2025 · Dec 31, 2025Income Tax Expense
56.78MCADFY2025 · Dec 31, 2025Net Income
197.64MCADFY2025 · Dec 31, 2025EBIT
396.08MCADFY2025 · Dec 31, 2025EBITDA (Income Statement)
571.69MCADFY2025 · Dec 31, 2025Selling, General & Administrative
74.46MCADFY2025 · Dec 31, 2025Other Operating Expenses
1.27MCADFY2025 · Dec 31, 2025Non-operating Interest Income
2.30MCADFY2025 · Dec 31, 2025Non-operating Interest Expense
141.67MCADFY2025 · Dec 31, 2025EPS (Basic)
1.21CADFY2025 · Dec 31, 2025EPS (Diluted)
1.20CADFY2025 · Dec 31, 2025Basic Shares Outstanding
163.65MSharesFY2025 · Dec 31, 2025Diluted Shares Outstanding
163.65MSharesFY2025 · Dec 31, 2025Net Income from Continuing Operations
197.64MCADFY2025 · Dec 31, 2025Operating Cash Flow
863.45MCADFY2025 · Dec 31, 2025Free Cash Flow
687.54MCADFY2025 · Dec 31, 2025Cash & Cash Equivalents (End of Period)
55.85MCADFY2025 · Dec 31, 2025Starting Profit (CF Statement)
197.64MCADFY2025 · Dec 31, 2025Depreciation & Amortization
175.61MCADFY2025 · Dec 31, 2025Deferred Taxes (CF)
56.78MCADFY2025 · Dec 31, 2025Stock-based Compensation
17.83MCADFY2025 · Dec 31, 2025Other Non-cash Items
133.53MCADFY2025 · Dec 31, 2025Change in Accounts Receivable (CF)
172.94MCADFY2025 · Dec 31, 2025Change in Other Assets/Liabilities
109.13MCADFY2025 · Dec 31, 2025Capital Expenditures
-175.91MCADFY2025 · Dec 31, 2025Net Acquisitions
-3.85MCADFY2025 · Dec 31, 2025Net Investing Cash Flow
-179.76MCADFY2025 · Dec 31, 2025Long-term Debt Issuance
426.92MCADFY2025 · Dec 31, 2025Long-term Debt Payments
-350.62MCADFY2025 · Dec 31, 2025Common Dividends Paid
-278.09MCADFY2025 · Dec 31, 2025Net Financing Cash Flow
-201.80MCADFY2025 · Dec 31, 2025Shares Outstanding
172.49MSharesUpdated Aug 21, 2026Float Shares
171.94MSharesUpdated Aug 21, 2026Shares Short
4.07MSharesUpdated Aug 21, 2026Short Ratio
7.04daysvs all stocks
% Held by Insiders
0.38%vs all stocks
% Held by Institutions
51.48%vs all stocks
Total Cash (MRQ)
39.97MCAD29.05M · vs all stocks (USD)
Total Cash per Share (MRQ)
0.2320CADUpdated Aug 21, 2026Total Debt (MRQ)
3.02BCAD2.20B · vs all stocks (USD)
Total Debt to Equity (MRQ)
2.95xvs Oil & Gas Midstream peers
Current Ratio (MRQ)
1.07xvs Oil & Gas Midstream peers
Book Value per Share (MRQ)
5.95CADUpdated Aug 21, 2026Total Assets
4.63BCAD3.36B · vs all stocks (USD)
Total Current Assets
713.90MCADFY2025 · Dec 31, 2025Total Liabilities
3.81BCADFY2025 · Dec 31, 2025Total Non-current Assets
3.92BCADFY2025 · Dec 31, 2025Total Non-current Liabilities
3.13BCADFY2025 · Dec 31, 2025Total Current Liabilities
681.16MCADFY2025 · Dec 31, 2025Cash & Cash Equivalents
55.85MCADFY2025 · Dec 31, 2025Accounts Receivable
465.57MCADFY2025 · Dec 31, 2025Inventory
144.82MCADFY2025 · Dec 31, 2025Accounts Payable
441.71MCADFY2025 · Dec 31, 2025Short-term Debt
18.10MCADFY2025 · Dec 31, 2025Deferred Revenue
66.08MCADFY2025 · Dec 31, 2025Other Current Liabilities
4.40MCADFY2025 · Dec 31, 2025Long-term Debt
2.76BCADFY2025 · Dec 31, 2025Other Non-current Liabilities
2.59MCADFY2025 · Dec 31, 2025Common Stock (Book)
2.39BCADFY2025 · Dec 31, 2025Retained Earnings
-1.74BCADFY2025 · Dec 31, 2025Total Shareholders' Equity
821.02MCAD596.67M · vs all stocks (USD)
52-Week Low
22.09CADUpdated Aug 21, 202652-Week High
32.99CADUpdated Aug 21, 202652-Week Change
18.80%vs all stocks
Beta
0.6020xvs all stocks
50-Day MA
30.41CADUpdated Aug 21, 2026200-Day MA
28.07CADUpdated Aug 21, 2026Avg 10-Day Volume
414.17KSharesUpdated Aug 21, 2026Avg 30-Day Volume
609.02KSharesUpdated Aug 21, 2026Diluted EPS (TTM)
1.00CADUpdated Aug 21, 2026Other Income / Expense
23.32MCADFY2025 · Dec 31, 20253 interpretations currently present — each is a set of fired observations whose alignment reads as one structural pattern. Click an observation to see the numbers behind it.
Screen for these patternsHow does this company use capital?
FCF Ratios Elevated
Its free cash flow is large next to assets and equity, and more of its operating cash reaches it than in its industry.
Reads
Three Turnover Ratios Elevated
Collects fast, clears inventory fast, and pays suppliers fast too.
Reads
Where is this company structurally exposed?
Elevated Leverage on Three Denominators
Debt sits high against its equity, its assets, and its cash flow.
Reads
An interpretation is present only while every observation it reads stays fired (score ≥ 70). It describes what the aligned readings show — never a verdict, never a prediction.
Shared structure with peers — never a ranking.
Relationships view
Structural observations derived from financial data, industry benchmarks, and supply chain position.
Peer Positioning
Gross margin is 3.4%, lower than 95% of its Oil & Gas Midstream peers (median 40.3%)Significant
Gross margin: 0.03Industry median: 0.40Industry P5: 0.04Peers compared: 22.00
Operating margin is 2.9%, lower than 95% of its Oil & Gas Midstream peers (median 31.6%)Significant
Operating margin: 0.03Industry median: 0.32Industry P5: 0.03Peers compared: 22.00
Profit margin is 1.3%, lower than 95% of its Oil & Gas Midstream peers (median 25.7%)Significant
Profit margin: 0.01Industry median: 0.26Industry P5: 0.02Peers compared: 22.00
Structural Tensions
Pays more per share than it earned over the last twelve monthsSignificant
Payout Ratio: 1.76Dividend per Share: 1.76Earnings per Share: 1.00
Financial Health
Altman Z-Score 2.93: safe zoneNotable
Altman Z-Score: 2.93
High earnings qualityNotable
Earnings Quality Score: 2.23
Supply Chain
Midstream position: 5 outgoing, 5 incoming connectionsNotable
Outgoing: 5.00Incoming: 5.00
High connectivity hub: 10 industry connectionsNotable
Total Connections: 10.00
Scale
Market cap is $3.95B, above the global median of $1.16BNotable
Market cap (USD): 3,951,212,706Global Median: 1,164,996,970.131
Revenue is $9.28B, above the global median of $528.33MNotable
Revenue (USD): 9,280,961,611.121Global Median: 528,325,200.584
Levered free cash flow is $152.62M, above the global median of $18.96MNotable
Levered free cash flow (USD): 152,617,399.988Global Median: 18,963,659.76
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Companies that share active interpretations — structural patterns currently present in both stocks.
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Supply Chain
Liquefied Natural Gas Supply Chain
Follow gas from reservoir to processing, liquefaction, cryogenic storage, ocean transport, regasification, pipeline delivery, use, and retirement. LNG preserves a molecule across distance, but each handoff can spend energy, capacity, money, and evidence.
Natural Gas Pipeline Supply Chain
Follow gas from wells through gathering, processing, transmission, compression, storage, distribution, meters, use, and retirement. Gas abundance, nominations, and storage inventories do not by themselves establish that a particular burner will receive fuel during a disturbance.
Oil and Gas Supply Chain
Follow oil and gas from reservoir through wells, separation, divergent transport and processing routes, use, emissions, and abandonment. A resource estimate or barrel count does not establish the particular fuel, molecule, pressure, timing, or waste route a user needs.