Latest Ratios: P/E Ratio 29.8x · EV/EBITDA 12.5x · ROE 5.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $28.6B | $23.7B | $21.1B | $22.2B | $20.3B | $15.6B | $9.7B | $9.7B | $12.5B | $15.3B | $11.6B |
| Enterprise Value | $32.4B | $29.1B | $23.5B | $32.6B | $28.4B | $23.5B | $17.1B | $14.4B | $16.3B | $20.8B | $18.5B |
| P/E Ratio → | 29.81 | 16.92 | 51.96 | 9.19 | 6.11 | 5.43 | — | — | 4.05 | 6.14 | 11.19 |
| P/S Ratio | 3.78 | 2.21 | 2.32 | 3.43 | 1.17 | 1.22 | 1.08 | 0.81 | 1.00 | 1.29 | 1.24 |
| P/B Ratio | 1.61 | 0.91 | 0.78 | 0.78 | 0.76 | 0.65 | 0.47 | 0.44 | 0.54 | 0.79 | 0.66 |
| P/FCF | — | — | 135.97 | — | 8.05 | 148.29 | — | 607.69 | 6.87 | 5.58 | 9.94 |
| P/OCF | 38.93 | 22.74 | 7.55 | 5.44 | 2.54 | 3.29 | 6.21 | 2.79 | 2.83 | 3.04 | 3.78 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.71 | 2.59 | 5.03 | 1.64 | 1.84 | 1.91 | 1.21 | 1.30 | 1.74 | 1.99 |
| EV / EBITDA | 12.53 | 7.93 | 13.66 | 28.38 | 3.28 | 3.63 | 28.55 | 9.83 | 2.60 | 3.60 | 5.95 |
| EV / EBIT | 25.99 | 11.78 | 411.47 | — | 4.34 | 5.03 | — | — | 3.56 | 5.22 | 9.98 |
| EV / FCF | — | — | 151.31 | — | 11.28 | 223.57 | — | 902.69 | 8.94 | 7.55 | 15.90 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.8% | 21.8% | 17.7% | 17.2% | 49.5% | 40.8% | 14.9% | 28.0% | 36.8% | 38.3% | 25.8% |
| Operating Margin | 16.5% | 16.5% | -0.1% | 3.4% | 40.3% | 39.0% | -10.2% | -1.3% | 38.1% | 35.9% | 18.5% |
| Net Profit Margin | 13.0% | 13.0% | 4.5% | 37.2% | 19.2% | 22.5% | -9.7% | -5.1% | 24.7% | 20.7% | 11.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.3% | 5.3% | 1.5% | 8.8% | 13.2% | 12.9% | -4.0% | -2.7% | 14.6% | 13.3% | 6.1% |
| ROA | 3.0% | 3.0% | 0.8% | 4.4% | 6.7% | 6.5% | -2.1% | -1.5% | 8.1% | 6.8% | 3.0% |
| ROIC | 4.4% | 4.4% | -0.0% | 0.5% | 15.8% | 12.5% | -2.5% | -0.4% | 13.9% | 12.9% | 5.3% |
| ROCE | 4.2% | 4.2% | -0.0% | 0.5% | 15.5% | 12.2% | -2.4% | -0.4% | 13.4% | 12.6% | 5.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.40 | 0.40 | 0.37 | 0.39 | 0.38 | 0.39 | 0.38 | 0.26 | 0.24 | 0.33 | 0.47 |
| Debt / EBITDA | 2.83 | 2.83 | 5.80 | 9.67 | 1.16 | 1.44 | 13.13 | 3.91 | 0.88 | 1.11 | 2.68 |
| Net Debt / Equity | — | 0.21 | 0.09 | 0.37 | 0.31 | 0.33 | 0.36 | 0.21 | 0.16 | 0.28 | 0.39 |
| Net Debt / EBITDA | 1.47 | 1.47 | 1.38 | 9.02 | 0.94 | 1.22 | 12.38 | 3.21 | 0.60 | 0.94 | 2.23 |
| Debt / FCF | — | — | 15.34 | — | 3.23 | 75.28 | — | 295.00 | 2.07 | 1.97 | 5.96 |
| Interest Coverage | 3.03 | 3.03 | 0.07 | -2.06 | 101.59 | 105.29 | -6.45 | -2.52 | 31.72 | 28.84 | 6.45 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.54 | 2.54 | 2.88 | 1.10 | 1.41 | 1.62 | 1.23 | 1.62 | 2.11 | 1.80 | 2.16 |
| Quick Ratio | 1.91 | 1.91 | 2.28 | 0.60 | 0.96 | 0.99 | 0.66 | 0.91 | 1.29 | 1.17 | 1.40 |
| Cash Ratio | 1.14 | 1.14 | 1.74 | 0.13 | 0.32 | 0.38 | 0.14 | 0.37 | 0.69 | 0.36 | 0.64 |
| Asset Turnover | — | 0.24 | 0.19 | 0.12 | 0.33 | 0.27 | 0.22 | 0.30 | 0.32 | 0.32 | 0.26 |
| Inventory Turnover | 3.06 | 3.06 | 2.87 | 1.82 | 3.26 | 3.16 | 4.07 | 4.34 | 3.85 | 4.40 | 4.13 |
| Days Sales Outstanding | — | 97.77 | 77.63 | 123.43 | 34.13 | 56.81 | 53.52 | 32.48 | 36.43 | 43.49 | 59.26 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.6% | 1.0% | 2.4% | 1.2% | 2.6% | 0.7% | 1.1% | 1.1% | 1.4% | 2.2% | 0.5% |
| Payout Ratio | 17.6% | 17.6% | 126.6% | 11.0% | 16.0% | 3.7% | — | — | 5.5% | 14.0% | 5.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.4% | 5.9% | 1.9% | 10.9% | 16.4% | 18.4% | — | — | 24.7% | 16.3% | 8.9% |
| FCF Yield | — | — | 0.7% | — | 12.4% | 0.7% | — | 0.2% | 14.6% | 17.9% | 10.1% |
| Buyback Yield | 2.5% | 4.3% | 5.9% | 1.1% | 6.9% | 0.0% | 2.1% | 6.8% | 1.5% | 1.1% | 0.0% |
| Total Shareholder Yield | 3.1% | 5.3% | 8.3% | 2.3% | 9.5% | 0.7% | 3.2% | 7.9% | 2.9% | 3.4% | 0.5% |
| Shares Outstanding | — | $495M | $520M | $525M | $536M | $540M | $534M | $560M | $582M | $586M | $577M |
Commodity Price Cyclicality
Based on recent financial data, Teck's forward P/E of 11.84 suggests the market is beginning to re-rate the company as a copper-growth vehicle, narrowing the historical valuation discount relative to pure-play copper producers like Freeport-McMoRan, which currently trades at a significantly higher forward multiple.
The current P/E of 29.19 appears distorted by the transition period, making the forward multiple a more reliable indicator of investor expectations for the post-coal era. Investors should monitor whether this compression continues as the market gains confidence in the long-term cash flow stability of the Quebrada Blanca Phase 2 asset.
According to reported figures, Teck's ROIC has recovered to 3.5% in 2026Q1 from the negative levels observed in 2024Q3, signaling that the massive capital outlays for the Quebrada Blanca Phase 2 project are finally beginning to generate meaningful returns on the invested capital base.
The historical decay in returns was a direct consequence of the heavy capital intensity required for mine development, which suppressed efficiency metrics for several quarters. The current upward trend suggests that as the asset reaches nameplate capacity, the company may see a sustained improvement in its ability to compound shareholder value.
As indicated in recent SEC filings, Teck's cash conversion cycle reached 51 days in 2026Q1, reflecting the inherent complexities of managing inventory and receivables during a period of rapid operational scaling and the ongoing divestment of the steelmaking coal business segment.
The fluctuation in the cash conversion cycle, particularly the high days inventory outstanding, suggests that the company is still optimizing its logistics chain following the integration of new production capacity. Investors should monitor whether these metrics stabilize as the company shifts toward a more streamlined copper-focused operational model.
The price-to-earnings ratio is frequently misapplied to Teck's business model because it fails to account for the significant non-cash depreciation charges and the lumpy nature of divestment-related gains that often obscure the underlying operational earning power of the company's core mining assets.
Analysts should prioritize EV/EBITDA or free cash flow metrics, as these provide a clearer view of the company's ability to generate cash from its mining operations regardless of accounting adjustments. Relying solely on P/E may lead to an inaccurate assessment of the company's valuation during this transformative period.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TECK stock.
Teck Resources Limited's current P/E ratio is 29.8x. The historical average is 15.3x. This places it at the 90th percentile of its historical range.
Teck Resources Limited's current EV/EBITDA is 12.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.0x.
Teck Resources Limited's return on equity (ROE) is 5.3%. The historical average is 8.5%.
Based on historical data, Teck Resources Limited is trading at a P/E of 29.8x. This is at the 90th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Teck Resources Limited's current dividend yield is 0.59% with a payout ratio of 17.6%.
Teck Resources Limited has 21.8% gross margin and 16.5% operating margin. Operating margin between 10-20% is typical for established companies.
Teck Resources Limited's Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.