# TOPAZ ENERGY CORP. (TPZ.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Energy / Oil, Gas & Consumable Fuels. Price C$31.71, market value C$4.9 billion.

## Valuation
- **P/E (trailing): 34.1×** (5-yr avg 50.8×, 3-yr avg 55.0×). TOPAZ ENERGY CORP. trades at 34.1× trailing earnings, well below its own five-year average of 50.8×: cheap by its own standards. The Energy median in the September 2026 study was 16.8×. Forward P/E is 25.6×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.16**. A PEG of 0.16 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 13.6×**. Each dollar of revenue is priced at 13.6×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 3.3×**. The shares trade at 3.3× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 14.7×**. Enterprise value is 14.7× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 5.6%** (5-yr avg 4.2%). Free cash flow equals 5.6% of the market value, above its five-year average of 4.2%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 2.9%**. The inverse of the P/E: 2.9% of the price is earned each year.

## Profitability
- **Gross margin: 65.4%**. TOPAZ ENERGY CORP. keeps 65.4% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 59.8%**. 59.8% of revenue is left after running the business, an exceptional level.
- **Net margin: 39.6%**. 39.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 8.5%**. 8.5% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 7.9%**. Return on all capital, debt included, is 7.9%.
- **Return on assets: 7.8%**. Each dollar of assets produces 7.8% of profit.

## Growth
- **Revenue growth (1 yr): 3.9%** (3-yr -4.2%/yr, 5-yr 26.6%/yr). Revenue grew 3.9% over the last year, against 26.6% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 159.4%** (3-yr 6.4%/yr, 5-yr 97.7%/yr). Earnings per share rose 159.4%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.38**. Debt is 0.38 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 1.5×**. It would take 1.5 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 8.6×**. Operating profit covers interest 8.6× over, a safe margin.
- **Current ratio: 11.26** (quick 11.26). Current assets cover the next year's liabilities 11.26 times.
- **Altman Z-score: 5.44**. A Z-score of 5.44 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 4.42%** (C$5.00 per share, trailing). TOPAZ ENERGY CORP. yields 4.42%, an income-level yield.
- **Payout ratio: 161%** (77% of free cash flow). The dividend exceeds earnings (161% payout), though free cash flow still covers it.
- **Consecutive years of increases: 6**. 6 straight years of increases.
- **Dividend growth (5 yr): 46.5%/yr** (1-yr 3.8%). The dividend has compounded at 46.5% a year over five years, doubling roughly every 2 years at that pace.

## Price and momentum
- **Total return (1 yr): 33.1%** (YTD 17.7%, 3-mo -1.1%). The shares are up 33.1% over twelve months including dividends.
- **From 52-week high: -6.5%** (30.1% above the low). Trading 6% below 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): 50**. An RSI of 50 is neutral.
- **Beta (1 yr): 0.00** (volatility 21%). Beta of 0.00 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=TPZ.TO · Page: https://foliofundamentals.com/stocks/tpz.to

Not investment advice.