# TRANSALTA CORP PREF SH SERIES E (TA-PH.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Financial Services. Price C$26.00, market value C$7.7 billion.

## Valuation
- **Price / sales: 3.4×**. Each dollar of revenue is priced at 3.4×.
- **Price / book: 9.8×**. The shares trade at 9.8× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 14.5×**. Enterprise value is 14.5× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 5.9%** (5-yr avg 6.9%). Free cash flow equals 5.9% of the market value, in line with its five-year average of 6.9%. Above 5% is generally attractive.

## Profitability
- **Gross margin: 43.6%**. TRANSALTA CORP PREF SH SERIES E keeps 43.6% of revenue after the direct cost of what it sells.
- **Operating margin: 3.9%**. 3.9% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: -5.7%**. The company reported a net loss over the last twelve months.
- **Return on equity: -9.9%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 0.8%**. Return on all capital, debt included, is 0.8%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -0.3%**. Each dollar of assets produces -0.3% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -15.4%** (3-yr -6.8%/yr, 5-yr 2.7%/yr). Revenue fell 15.4% over the last year, against 2.7% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -208.5%**. Earnings per share fell 208.5%, slower than revenue, so margins compressed.

## Financial health
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.
- **Cash and short-term investments: C$283 million**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 6.63%** (C$0.27 per share, trailing). TRANSALTA CORP PREF SH SERIES E yields 6.63%, high enough to check carefully: yields this high often precede a cut.
- **Consecutive years of increases: 14**. 14 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 5.8%/yr** (1-yr 0.0%). The dividend has grown 5.8% a year over five years.
- **Shareholder yield: 2.2%**. Dividends plus net buybacks return 2.2% of the market value a year.

## Price and momentum
- **Total return (1 yr): 10.2%** (YTD 4.5%, 3-mo 1.1%). The shares are up 10.2% over twelve months including dividends.
- **From 52-week high: -0.9%** (5.3% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 48**. An RSI of 48 is neutral.
- **Beta (1 yr): 0.03** (volatility 5%). Beta of 0.03 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=TA-PH.TO · Page: https://foliofundamentals.com/stocks/ta-ph.to

Not investment advice.