TECK Basic Materials

Teck Resources Limited

$61.81-1.48%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Basic Materials
Industry: Copper
Country: Canada
Market cap: 30.3B USD
Enterprise value: 30.8B USD
Full-time employees: 7,429

Overall health

Strength: more profitable than most peersmore profitable than peers
Strength: growing faster than most peersgrowing faster than peers
Drawback: its share price swings more than most peers’ (beta 1.60 vs a peer median of 0.69)bigger price swings (beta 1.60 vs peers 0.69)
About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #427 of 1,217 basic materials companies (top 36%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Teck Resources reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Returning more cash than it generates. Paid out CAD 3.8B vs CAD 368M of free cash flow over the 3 fiscal years to 2025.
Teck Resources returned CAD 3.8B to shareholders over three years, 1026% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.
Valuation signals disagree. Cheaper than 55% of peers on operating cash profit (EBITDA), but only 0% on free cash flow.Cheaper than 55% of peers on operating cash profit, but only 0% on free cash flow.
Relative to its operating cash profit (EBITDA), Teck Resources looks cheaper than 55% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Teck Resources looks cheaper than 55% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Profit below an unusually strong 2022. Since 2022 (an unusually strong year for operating profit): revenue −38%, operating profit −68%.Since 2022: revenue −38%, operating profit −68%.
Since 2022, Teck Resources's revenue changed −38% while operating profit fell 68%: costs rose faster than sales.

StockQuotient Score

59/ 100

Oct 5 59 → Nov 4 59

Valuation

Is the price right?

45/100

Moderate

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why

Held back by:

▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield3.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · CAD→USD at the current rateReported value30% base weight · Z-score -0.10Sector median: 0.0364 · MAD: 0.0364

EBITDA yield9.4%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · CAD→USD at the current rateReported value50% base weight · Z-score 0.17Sector median: 0.0854 · MAD: 0.0520

Free cash flow yield-0.8%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · CAD→USD at the current rate · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0261 · MAD: 0.0261

Other data (not scored)

Book yield58.9%

SEC filings (IFRS mapped) · latest balance sheet · CAD→USD at the current rateReported valueInformational · 0% composite weightSector median: 0.5947 · MAD: 0.3137

Growth

Is it growing?

87/100

Strong

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

12-month revenue up 18.7%

Why

Stronger than most peers on:

▲ EPS growth
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth257.6%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 7.52Sector median: 0.0941 · MAD: 0.3300

3-year revenue growth-14.7%

SEC filings (IFRS mapped) · 3 years to Dec 2025Reported value33% base weight · Z-score -2.02Sector median: -0.0005 · MAD: 0.0725

Revenue growth18.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 1.61Sector median: 0.0335 · MAD: 0.0952

Profitability

Does it earn well?

68/100

Moderate

3/3 inputs reported · High confidence

Since last year: Mixed

Operating margin rose 21.0 points to 20.9%
Free cash flow turned negative over the last 12 months

Why

Stronger than most peers on:

▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin20.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 2.16Sector median: 0.0757 · MAD: 0.0617

Return on assets3.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.22Sector median: 0.0249 · MAD: 0.0265

Return on invested capital7.4%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.11Sector median: 0.0675 · MAD: 0.0575

Other data (not scored)

Gross margin24.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.2138 · MAD: 0.1202

Return on equity5.6%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0537 · MAD: 0.0694

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last year: No major change

Why

Mixed versus peers:

▲ Current ratio
▲ Debt / equity
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.60

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.23Sector median: 0.6950 · MAD: 0.2810

Current ratio2.54×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score 1.14Sector median: 1.7610 · MAD: 0.6770

Debt / equity0.16×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score 0.69Sector median: 0.3578 · MAD: 0.2929

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Teck Resources

Is Teck Resources getting weaker?: Its latest SEC filing (Feb 19, 2026) was mixed: some things better, some worse: operating margin rose 21.0 points to 20.9%; free cash flow turned negative over the last 12 months. Its overall score is unchanged at 59/100 since Oct 28, 2026.
How is Teck Resources valued vs its peers?: Priced about in line with its peers. Valuation scores 45/100 against 1,371 basic materials peers. Free cash flow yield -0.8% vs a peer median of 2.6% (weaker than 100% of peers).Free cash flow yield -0.8% vs peers 2.6% (weaker than 100% of peers).
Is Teck Resources growing?: Yes, faster than most of its peers. Growth scores 87/100 against 1,371 basic materials peers. Earnings per share growth 257.6% vs a peer median of 9.4% (stronger than 95% of peers).Earnings per share growth 257.6% vs peers 9.4% (stronger than 95% of peers). 3-year revenue growth -14.7% vs a peer median of -0.0% (weaker than 90% of peers).3-year revenue growth -14.7% vs peers -0.0% (weaker than 90% of peers).
How profitable is Teck Resources?: More profitable than most of its peers. Profitability scores 68/100 against 1,371 basic materials peers. Operating margin 20.9% vs a peer median of 7.6% (stronger than 85% of peers).Operating margin 20.9% vs peers 7.6% (stronger than 85% of peers).
How risky is Teck Resources?: Moderate risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Current ratio 2.54× vs a peer median of 1.76× (stronger than 71% of peers).Current ratio 2.54× vs peers 1.76× (stronger than 71% of peers). Beta 1.60 vs a peer median of 0.69 (weaker than 92% of peers).Beta 1.60 vs peers 0.69 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Feb 19, 2026 · compared with the year ended Dec 31, 2024

Mixed: some things better, some worse

Operating margin rose 21.0 points to 20.9%
Free cash flow turned negative over the last 12 months

	Previous year	Latest year	Change
Revenue (12 months)	9.1B CAD	10.8B CAD	+18.7%
Net income (12 months)	406.0M CAD	1.4B CAD	+245.1%
Operating margin	-0.1%	20.9%	+21.0 pts
Free cash flow (12 months)	528.0M CAD	−359.0M CAD	turned negative
Debt	4.5B CAD	3.9B CAD	−13.8%
Cash	7.6B CAD	5.0B CAD	−33.9%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year · amounts in CAD, as reported

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	40.8%	49.5%	17.2%	17.7%	24.7%	▲ 7.0 pts
Operating margin	39.0%	40.3%	3.4%	-0.1%	20.9%	▲ 21 pts
Net margin	22.5%	19.2%	37.2%	4.5%	13.0%	▲ 8.5 pts
Return on assets (ROA)	6.1%	6.3%	4.3%	0.9%	3.1%	▲ 2.2 pts
Return on equity (ROE)	12.5%	13.0%	8.9%	1.6%	5.6%	▲ 4.0 pts
Free cash flow margin	6.0%	20.6%	3.1%	5.8%	-3.3%	▼ 9.2 pts
Current ratio	1.62×	1.41×	1.10×	2.88×	2.54×	▼ 12%
Quick ratio	0.99×	0.96×	0.60×	2.28×	1.91×	▼ 16%
Debt to equity	0.32×	0.28×	0.24×	0.17×	0.16×	▼ 10%
Interest coverage	26.23×	34.41×	1.39×	-0.01×	2.46×	▲ >999%

TECK price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Strength: growing faster than most peersgrowing faster than peers

Drawback: its share price swings more than most peers’ (beta 1.60 vs a peer median of 0.69)bigger price swings (beta 1.60 vs peers 0.69)

About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #427 of 1,217 basic materials companies (top 36%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

Teck Resources reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Returning more cash than it generates. Paid out CAD 3.8B vs CAD 368M of free cash flow over the 3 fiscal years to 2025.

Teck Resources returned CAD 3.8B to shareholders over three years, 1026% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.

Valuation signals disagree. Cheaper than 55% of peers on operating cash profit (EBITDA), but only 0% on free cash flow.Cheaper than 55% of peers on operating cash profit, but only 0% on free cash flow.

Relative to its operating cash profit (EBITDA), Teck Resources looks cheaper than 55% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Teck Resources looks cheaper than 55% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Profit below an unusually strong 2022. Since 2022 (an unusually strong year for operating profit): revenue −38%, operating profit −68%.Since 2022: revenue −38%, operating profit −68%.

Since 2022, Teck Resources's revenue changed −38% while operating profit fell 68%: costs rose faster than sales.

Questions investors ask about Teck Resources

Is Teck Resources getting weaker?

Its latest SEC filing (Feb 19, 2026) was mixed: some things better, some worse: operating margin rose 21.0 points to 20.9%; free cash flow turned negative over the last 12 months. Its overall score is unchanged at 59/100 since Oct 28, 2026.

How is Teck Resources valued vs its peers?

Priced about in line with its peers. Valuation scores 45/100 against 1,371 basic materials peers. Free cash flow yield -0.8% vs a peer median of 2.6% (weaker than 100% of peers).Free cash flow yield -0.8% vs peers 2.6% (weaker than 100% of peers).

Is Teck Resources growing?

Yes, faster than most of its peers. Growth scores 87/100 against 1,371 basic materials peers. Earnings per share growth 257.6% vs a peer median of 9.4% (stronger than 95% of peers).Earnings per share growth 257.6% vs peers 9.4% (stronger than 95% of peers). 3-year revenue growth -14.7% vs a peer median of -0.0% (weaker than 90% of peers).3-year revenue growth -14.7% vs peers -0.0% (weaker than 90% of peers).

How profitable is Teck Resources?

More profitable than most of its peers. Profitability scores 68/100 against 1,371 basic materials peers. Operating margin 20.9% vs a peer median of 7.6% (stronger than 85% of peers).Operating margin 20.9% vs peers 7.6% (stronger than 85% of peers).

How risky is Teck Resources?

Moderate risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Current ratio 2.54× vs a peer median of 1.76× (stronger than 71% of peers).Current ratio 2.54× vs peers 1.76× (stronger than 71% of peers). Beta 1.60 vs a peer median of 0.69 (weaker than 92% of peers).Beta 1.60 vs peers 0.69 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

9.1B CAD

10.8B CAD

+18.7%

Net income (12 months)

406.0M CAD

1.4B CAD

+245.1%

Operating margin

-0.1%

20.9%

+21.0 pts

Free cash flow (12 months)

528.0M CAD

−359.0M CAD

turned negative

Debt

4.5B CAD

3.9B CAD

−13.8%

Cash

7.6B CAD

5.0B CAD

−33.9%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

40.8%

49.5%

17.2%

17.7%

24.7%

▲ 7.0 pts

Operating margin

39.0%

40.3%

3.4%

-0.1%

20.9%

▲ 21 pts

Net margin

22.5%

19.2%

37.2%

4.5%

13.0%

▲ 8.5 pts

Return on assets (ROA)

6.1%

6.3%

4.3%

0.9%

3.1%

▲ 2.2 pts

Return on equity (ROE)

12.5%

13.0%

8.9%

1.6%

5.6%

▲ 4.0 pts

Free cash flow margin

6.0%

20.6%

3.1%

5.8%

-3.3%

▼ 9.2 pts

Current ratio

1.62×

1.41×

1.10×

2.88×

2.54×

▼ 12%

Quick ratio

0.99×

0.96×

0.60×

2.28×

1.91×

▼ 16%

Debt to equity

0.32×

0.28×

0.24×

0.17×

0.16×

▼ 10%

Interest coverage

26.23×

34.41×

1.39×

-0.01×

2.46×

▲ >999%