WallStSmart

Cheniere Energy Partners LP (CQP)vsTC Energy Corp (TRP)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

TC Energy Corp generates 36% more annual revenue ($15.69B vs $11.50B). CQP leads profitability with a 27.3% profit margin vs 22.9%. TRP appears more attractively valued with a PEG of 3.32. CQP earns a higher WallStSmart Score of 64/100 (C+).

CQP

Buy

64

out of 100

Grade: C+

Growth: 6.0Profit: 9.5Value: 6.7Quality: 4.8
Piotroski: 6/9

TRP

Buy

61

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

CQPUndervalued (+70.3%)

Margin of Safety

+70.3%

Fair Value

$194.46

Current Price

$67.74

$126.72 discount

UndervaluedFair: $194.46Overvalued
TRPSignificantly Overvalued (-44.3%)

Margin of Safety

-44.3%

Fair Value

$42.21

Current Price

$60.88

$18.67 premium

UndervaluedFair: $42.21Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

CQP5 strengths · Avg: 9.4/10
Return on EquityProfitability
84.8%10/10

Every $100 of equity generates 85 in profit

Operating MarginProfitability
51.9%10/10

Strong operational efficiency at 51.9%

EPS GrowthGrowth
136.1%10/10

Earnings expanding 136.1% YoY

Profit MarginProfitability
27.3%9/10

Keeps 27 of every $100 in revenue as profit

P/E RatioValuation
12.5x8/10

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
$65.23B9/10

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

CQP3 concerns · Avg: 2.3/10
Price/BookValuation
8.9x4/10

Trading at 8.9x book value

PEG RatioValuation
5.052/10

Expensive relative to growth rate

Debt/EquityHealth
3.911/10

Elevated debt levels

TRP3 concerns · Avg: 1.7/10
PEG RatioValuation
3.322/10

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 : CQP

The strongest argument for CQP centers on Return on Equity, Operating Margin, EPS Growth. Profitability is solid with margins at 27.3% and operating margin at 51.9%.

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 : CQP

The primary concerns for CQP are Price/Book, PEG Ratio, Debt/Equity. Debt-to-equity of 3.91 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.

TRP is growing revenue faster at 5.7% — 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

CQP scores higher overall (64/100 vs 61/100), backed by strong 27.3% 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.

Cheniere Energy Partners LP

ENERGY · OIL & GAS MIDSTREAM · USA

Cheniere Energy Partners, LP, owns and operates regasification facilities at the Sabine Pass liquefied natural gas (LNG) terminal located in Cameron Parish, Louisiana, on the Sabine-Neches waterway. The company is headquartered in Houston, Texas.

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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