WallStSmart

Martin Midstream Partners LP (MMLP)vsTC Energy Corp (TRP)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

TC Energy Corp generates 1980% more annual revenue ($15.48B vs $744.17M). TRP leads profitability with a 22.2% profit margin vs -2.0%. TRP appears more attractively valued with a PEG of 4.40. TRP earns a higher WallStSmart Score of 55/100 (C).

MMLP

Buy

50

out of 100

Grade: C-

Growth: 6.7Profit: 4.5Value: 5.7Quality: 5.8
Piotroski: 3/9

TRP

Buy

55

out of 100

Grade: C

Growth: 4.7Profit: 7.5Value: 3.3Quality: 3.0
Piotroski: 4/9Altman Z: 0.54
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

MMLPUndervalued (+83.0%)

Margin of Safety

+83.0%

Fair Value

$15.02

Current Price

$2.44

$12.58 discount

UndervaluedFair: $15.02Overvalued
TRPSignificantly Overvalued (-47.6%)

Margin of Safety

-47.6%

Fair Value

$41.26

Current Price

$65.37

$24.11 premium

UndervaluedFair: $41.26Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

MMLP3 strengths · Avg: 9.3/10
EPS GrowthGrowth
230.8%10/10

Earnings expanding 230.8% YoY

Debt/EquityHealth
-5.4810/10

Conservative balance sheet, low leverage

Revenue GrowthGrowth
18.2%8/10

18.2% revenue growth

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

Strong operational efficiency at 47.5%

Market CapQuality
$70.52B9/10

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

Areas to Watch

MMLP4 concerns · Avg: 2.8/10
Market CapQuality
$98.59M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
0.0%3/10

ROE of 0.0% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
7.362/10

Expensive relative to growth rate

TRP4 concerns · Avg: 2.5/10
P/E RatioValuation
28.4x4/10

Moderate valuation

PEG RatioValuation
4.402/10

Expensive relative to growth rate

EPS GrowthGrowth
-8.5%2/10

Earnings declined 8.5%

Altman Z-ScoreHealth
0.542/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : MMLP

The strongest argument for MMLP centers on EPS Growth, Debt/Equity, Revenue Growth. Revenue growth of 18.2% demonstrates continued momentum.

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%.

Bear Case : MMLP

The primary concerns for MMLP are Market Cap, Return on Equity, Piotroski F-Score.

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.

Key Dynamics to Monitor

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

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

MMLP is growing revenue faster at 18.2% — sustainability is the question.

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

Bottom Line

TRP scores higher overall (55/100 vs 50/100), backed by strong 22.2% margins. MMLP offers better value entry with a 83.0% margin of safety. 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.

Martin Midstream Partners LP

ENERGY · OIL & GAS MIDSTREAM · USA

Martin Midstream Partners LP, is engaged in the completion, processing, storage and packaging of petroleum products and by-products primarily in the Gulf Coast region of the United States. The company is headquartered in Kilgore, 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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