TA-PH.TO
UtilitiesTransAlta Corp · Independent Power Producers · $8B
What is TransAlta Corp?
TransAlta Corporation is a Canadian electric power generator operating across hydro, wind, solar, gas, and transitional energy assets. Headquartered in Calgary, it serves commercial, industrial, and municipal customers across Canada, the United States, and Australia.
TransAlta generates and sells electricity through a diversified portfolio of power assets. Revenue flows from long-term power purchase agreements and wholesale energy markets. Its Energy Marketing segment also trades power, natural gas, and environmental products. The company is actively transitioning away from coal toward renewables and gas, while managing mine reclamation obligations tied to its legacy operations.
TransAlta Corporation has been headquartered in Calgary, Canada, with its current corporate structure established in 2012.
- Hydroelectric power generation in Alberta, British Columbia, and Ontario
- Wind and solar generation across Canada, the United States, and Western Australia
- Gas-fired power generation in Canada and internationally
- Energy marketing and trading of power, natural gas, and environmental products
Is TA-PH.TO a Good Stock to Buy?
UQS Score rates TA-PH.TO as Poor overall, reflecting broad weakness across most fundamental pillars.
The Valuation pillar stands out as the one relative bright spot, rated Good — suggesting the market may already be pricing in the company's challenges.
Quality, Moat, Growth, and Risk all carry Weak ratings, pointing to concerns around earnings durability, competitive positioning, expansion prospects, and balance sheet or operational risks.
See the exact pillar breakdown and full financial metrics by signing up for a Pro account at UQS Score. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does TA-PH.TO pay dividends?
Yes — TransAlta Corp pays a dividend.
TransAlta pays a regular dividend, which may appeal to income-oriented investors in the utilities sector. Dividend sustainability, however, is worth scrutinizing given the Weak Quality and Risk pillar ratings. Investors should review the company's payout history and cash flow coverage before relying on the dividend as a primary return driver.
When does TA-PH.TO report earnings?
TransAlta reports earnings on a quarterly cadence, typical for TSX-listed utilities.
The company's fundamental profile — as reflected in Weak Quality and Growth pillar ratings — suggests earnings have not demonstrated consistent strength relative to sector peers. Energy transition costs and commodity price exposure add variability to quarterly results.
For the most recent quarter's results, visit TransAlta's investor relations page directly.
TA-PH.TO Price History
+70.9% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
TA-PH.TO Long-term Outlook
TransAlta's growth outlook appears constrained, with the Growth pillar rated Weak. The ongoing shift from coal toward renewables and gas creates both opportunity and execution risk. The Weak Risk pillar suggests the path forward carries meaningful uncertainty, including regulatory, commodity, and reclamation-related headwinds.
Growth drivers
- Expansion of wind and solar capacity across North America and Australia
- Long-term contracted power agreements providing baseline revenue stability
- Energy marketing operations that can capture short-term market opportunities
Key risks
- Elevated operational and financial risk reflected in the Weak Risk pillar rating
- Legacy coal asset reclamation costs and regulatory obligations
- Commodity price volatility affecting uncontracted power generation revenues
TA-PH.TO vs Peers
TransAlta operates in a competitive regulated and merchant utility landscape alongside peers with varying business models.
IDACORP is a regulated electric utility focused on the Pacific Northwest, offering a more predictable earnings profile tied to rate-base growth rather than merchant power exposure.
This CMS Energy debt instrument reflects a regulated utility parent with a focus on Michigan's gas and electric markets, representing a different risk and return profile than TransAlta's equity.
Like CMSD, this CMS Energy security is tied to a regulated utility franchise, contrasting with TransAlta's broader merchant and transitional energy exposure.
Frequently Asked Questions
What does TransAlta do?
TransAlta generates and sells electricity through hydro, wind, solar, and gas assets across Canada, the United States, and Australia. It also trades power and natural gas through its Energy Marketing segment, and is transitioning away from coal generation toward cleaner energy sources.
Does TA-PH.TO pay dividends?
Yes, TransAlta pays a regular dividend. However, given the Weak Quality and Risk pillar ratings in the UQS framework, investors should assess whether the dividend is well-supported by underlying cash flows before treating it as a reliable income stream.
When does TA-PH.TO report earnings?
TransAlta reports earnings quarterly, in line with standard practice for TSX-listed companies. For the exact timing of upcoming releases, check TransAlta's investor relations page for the most current schedule.
Is TA-PH.TO a good stock to buy?
The UQS Score rates TA-PH.TO as Poor, with Weak ratings across Quality, Moat, Growth, and Risk pillars. The Valuation pillar is rated Good, which may reflect that challenges are already priced in. Pro members can access the full breakdown to make a more informed assessment.
Is TA-PH.TO overvalued?
The UQS Valuation pillar for TA-PH.TO is rated Good, suggesting the stock does not appear expensive relative to its fundamentals at current levels. That said, a low valuation alone does not offset the Weak ratings across other pillars.
How does TA-PH.TO compare to its competitors?
Compared to regulated peers like IDACORP, TransAlta carries more merchant power and commodity price exposure, which contributes to a higher risk profile. Regulated utilities typically offer more earnings predictability, while TransAlta's diversified but transitioning asset base introduces greater variability.
What is TA-PH.TO's market cap bracket?
TransAlta is classified as a mid-cap company. This places it in a range where institutional coverage exists but liquidity and analyst attention may be lower than for large-cap utility peers.
Who founded TransAlta?
TransAlta has roots going back over a century in Canadian power generation. The current corporate structure was established in 2012. For detailed founding history, TransAlta's official corporate history page provides the most accurate account.
Is TA-PH.TO a long-term quality investment?
As a long-term quality indicator, the UQS Score rates TA-PH.TO as Poor. Weak scores across Quality, Moat, and Growth pillars suggest the business has not demonstrated the durable competitive advantages typically associated with long-term compounders in the utilities sector.
What is the main competitive advantage of TransAlta?
TransAlta's geographic and fuel-type diversification — spanning hydro, wind, solar, and gas across three countries — provides some operational resilience. However, the Weak Moat rating in the UQS framework suggests these advantages have not translated into a clearly defensible competitive position relative to sector peers.
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Pro Analysis
TA-PH.TO — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 28.2 | 25.6 | 32.0 | 24.5 | 2.4 | 56.8 | -0.8 |
| May 8, 2026 | 29.0 | 7.8 | 32.0 | 24.9 | 36.9 | 56.7 | +0.4 |
| May 3, 2026 | 28.6 | 24.6 | 32.0 | 24.9 | 2.2 | 61.1 | 0.0 |
| Apr 18, 2026 | 28.6 | 24.6 | 32.0 | 24.9 | 2.2 | 61.2 | -0.4 |
| Apr 14, 2026 | 29.0 | 24.6 | 32.0 | 24.9 | 2.2 | 64.0 | -0.1 |
| Apr 12, 2026 | 29.1 | 24.6 | 32.0 | 24.9 | 2.2 | 64.0 | -4.3 |
| Apr 11, 2026 | 33.4 | 24.0 | 50.0 | 24.9 | 2.2 | 64.0 | — |
TA-PH.TO — Pillar Breakdown
Quality
— 25.6/100 (25%)TransAlta Corp currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 24.5/100 (20%)TransAlta Corp faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 2.4/100 (15%)TransAlta Corp presents elevated risk with concerns around leverage or financial stability.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 56.8/100 (15%)TransAlta Corp trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 32/100 (25%)TransAlta Corp operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for TA-PH.TO.
Score Composition
Financial Data
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How is the TA-PH.TO UQS Score Calculated?
The UQS (Unified Quality Score) for TransAlta Corp is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses TransAlta Corp's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether TransAlta Corp is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.