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STOCK COMPARISON

Enbridge vs Topaz Energy: Fair Value & Quality

Both stocks run through our valuation models. Here is how Enbridge (ENB) and Topaz Energy (TPZ) compare, as of Oct 30, 2026.

As of Oct 30, 2026, Fair Value Calculator sees Topaz Energy as the less overvalued of the two: Enbridge trades at $49.46 versus a fair value of $36.14 (−26.9%), while Topaz Energy trades at C$31.30 versus C$27.10 (−13.4%).
Enbridge
ENB · USD · Energy
−26.9%
upside to fair value
overvalued
Price$49.46
Fair Value$36.14
Quality39/100
Fair ValueQualityUptrend
Topaz Energy
TPZ.TO · CAD · Energy
−13.4%
upside to fair value
overvalued
PriceC$31.30
Fair ValueC$27.10
Quality67/100
Fair ValueQualityUptrend
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

EnbridgeTopaz Energy
Valuation
26.4×P/E (TTM)27.9×
16.4×P/E ex one-offs (FY2025)38.2×
15.5×Forward P/E (FY2027)n/a
n/aMedian P/E at FY-end (6 FY, ex one-offs where documented)69.8×
1.30×P/S (TTM)9.44×
1.27×P/B2.29×
11.8×EV/EBITDA11.5×
4.89×PEGn/a
−26.9%Fair value upside−13.4%
5.5%Dividend yield4.3%
$2.71Dividend per shareC$1.35
Profitability
10.2%Operating margin68.3%
0.82×EBIT margin trend (5Y)0.56×
9.2%Return on equity10.5%
2.5%Return on assets5.7%
Growth
97.1%Revenue growth (YoY)37.0%
6.9%Avg. growth/yr (3Y)-4.2%
10.8%Avg. growth/yr (5Y)26.6%
+10.4%Value creation/yr+63.8%
Balance & size
2.2×Interest coverage (EBIT/interest)6.1×
1.15×Debt / equity0.38×
$108BMarket cap$3B
expensiveGrowth qualityweak
The P/E excluding one-off items is only shown where the special items are documented in the accounts (our own raw data or SEC filings). If one side lacks it, the reported P/E stays scored.
Topaz Energy, median P/E at fiscal year-end, 6 fiscal years (2020 to 2025), reported earnings, FY2025 ex one-offs: 69.8.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Topaz Energy leads: 7 to 8 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Enbridge Topaz Energy
ProfitabilityHow much profit the company makes from its sales and capital
29
40
Quality GrowthAre margins and returns getting better?
49
38
CashflowDo the profits arrive as real cash?
57
100
Financial strengthDebt, balance sheet and risk of trouble
18
64
InvestmentDoes it invest with discipline instead of growing at any price?
20
84
Low VolatilityHow calm the share price moves, does not count
85
89
Price momentumPrice momentum of the last 3 to 12 months, does not count
36
48
Near the 52-week highDistance to the 52-week high, does not count
45
76
New sharesBuys back shares or issues new ones?
69
67

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyEnbridgePrice $49.46Topaz EnergyPrice C$31.30
DCF Models−45.5%below the price$26.96−31.3%below the priceC$21.51
Earnings-Based−6.5%close to the price$46.25−65.8%below the priceC$10.70
Dividend Discount+96.0%above the price$96.96−19.2%below the priceC$25.29
Multiples−29.0%below the price$35.10−74.7%below the priceC$7.93
Asset-Based−80.8%below the price$9.51−79.0%below the priceC$6.57
Growth DCF−33.1%below the price$33.11+56.5%above the priceC$48.99
Economic Profit−61.1%below the price$19.22−76.5%below the priceC$7.37
Growth Earnings+15.9%above the price$57.30−56.7%below the priceC$13.55
Matching families8 of 8
Minimum−80.8%below the price$9.51−79.0%below the priceC$6.57
Maximum+96.0%above the price$96.96+56.5%above the priceC$48.99
Median−31.1%below the price$34.10−61.3%below the priceC$12.13
Geometric mean−32.9%below the price$33.19−55.2%below the priceC$14.01
Ahead family by family5 of 83 of 8

Minimum, maximum, median and geometric mean only use the families both stocks have (matching families: 8 of 8), so a family without a value on one side does not distort the comparison. Ahead in a family is the stock whose fair value there sits higher relative to its price. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Family by family: Enbridge is ahead in 5 of 8 shared families, Topaz Energy in 3.

Enbridge: 17 of 23 models see the stock below the current price.

Topaz Energy: 21 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Enbridge
Price $49.46
Fair Value $36.14
Bear $26.33Bull $68.45
Topaz Energy
Price C$31.30
Fair Value C$27.10
Bear C$18.98Bull C$35.24

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Enbridge · Energy

Quality score39 · below median
Fair value upside−26.9% · below median

Topaz Energy · Energy

Quality score67 · Top 25%
Fair value upside−13.4% · above median

Bottom line

As of Oct 30, 2026, Fair Value Calculator sees Topaz Energy as the less overvalued of the two: Enbridge trades at $49.46 versus a fair value of $36.14 (−26.9%), while Topaz Energy trades at C$31.30 versus C$27.10 (−13.4%).

Topaz Energy has the higher quality score (67/100).

Open Topaz Energy live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.