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Teck Resources USD

At a glance: strengths & risks
✓Revenue growing (+16%)✓Profit growing (+271%)✓Margins improving (18%→37%)✓Net cash balance sheet

Sector: Coal

Geography: Canada, United States

COMM_TECK

Price chart

66.14 USDDay -1.09%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
66.14 USD · -1.09%
Market cap
32.3 bn USD

Growth

Δ revenue y/y
81.4%
Δ EBITDA y/y
170.4%

Multiples

P/E (LTM)
17.9x
P/B (FY)
1.8x
P/E (ann.)
13.0x
EV/EBITDA (LTM)
8.4x
EV/EBITDA (ann.)
6.4x

Cash return

Dividend yield
0.4%
FCF yield (LTM)
4.0%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-20.0%
↓ details

Liquidity

Daily turnover (listing)
105.3 mln USD

Shares: yahoo_fundamentals_timeseries/TECK

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK2625.8
y/y 81.4%
1002.3
y/y 348.9%
332.9
y/y 23.1%
1335.1
y/y 170.4%
622.0
y/y 321.9%
1251.4-525.934995.1
y/y 13.8%
20099.0
y/y 15.2%
12.7%2022.0Link
2026-03-31Q1 2026 (3M)OK2872.0
y/y 80.0%
1080.2
y/y 364.4%
370.0
y/y 25.5%
1450.2
y/y 175.0%
596.5
y/y 125.3%
745.9-428.333971.0
y/y 3.4%
19131.0
y/y 3.5%
12.9%-350.1Link
2025-12-31Q4 2025 (3M)OK2194.0
y/y 10.1%
249.8
y/y 25.3%
295.6
y/y -45.4%
545.3
y/y -26.4%
389.3
y/y 33.6%
901.0-474.532516.0
y/y -5.3%
17959.8
y/y -5.7%
4.3%-285.1Link
2025-09-30Q3 2025 (3M)OK2422.5
y/y 16.1%
367.8
y/y —
396.5
y/y 9.0%
764.3
y/y —
201.1
y/y —
463.0-376.431882.0
y/y —
17836.0
y/y —
1.5%220.5Link
2025-06-30Q2 2025 (3M)OK1447.7
y/y -48.8%
223.3
y/y -67.5%
270.5
y/y -48.7%
493.8
y/y -59.3%
147.4
y/y -44.4%
63.0-296.330749.1
y/y -28.4%
17447.4
y/y -9.9%
3.3%3329.2Link
2025-03-31Q1 2025 (3M)OK1596.0
y/y -45.2%
232.6
y/y -71.6%
294.8
y/y -41.0%
527.4
y/y -60.0%
264.8
y/y 5.7%
-368.6-219.732843.1
y/y -22.9%
18478.7
y/y -3.3%
5.6%1985.9Link
2024-12-31Q4 2024 (3M)PARTIAL1992.0
y/y —
199.3
y/y 108.3%
541.7
y/y -85.0%
741.0
y/y -38.7%
291.3
y/y -18.6%
——34341.7
y/y -17.5%
19038.8
y/y -4.8%
—-777.0Link
2024-10-23Q4 2024 (3M)PARTIAL2086.6
y/y -21.8%
-458.5
y/y -210.3%
363.6
y/y -7.3%
-94.9
y/y -111.7%
-510.3
y/y -349.5%
———
y/y —
—
y/y —
—≈ 1582.1Link
2024-09-30Q3 2024 (3M)OK2858.0
y/y 7.2%
283.3
y/y -31.9%
—
y/y —
283.3
y/y -64.9%
-600.1
y/y -393.4%
97.8-457.832477.0
y/y -20.0%
18152.5
y/y -9.3%
-4.3%1582.1Link
2024-06-30Q2 2024 (3M)OK2827.7
y/y 8.4%
687.0
y/y -12.1%
527.1
y/y 65.0%
1214.2
y/y 10.3%
265.0
y/y -29.9%
724.3-813.342920.4
y/y 9.1%
19354.2
y/y -1.1%
5.5%7869.0Link
2024-03-31Q1 2024 (3M)OK2911.6
y/y 3.8%
817.7
y/y -40.5%
500.1
y/y 403.6%
1317.8
y/y -10.6%
250.4
y/y -70.4%
-46.7-765.942583.8
y/y 6.9%
19116.9
y/y -2.0%
5.1%6794.3Link
2023-12-31FY 2023 (12M)PARTIAL—
y/y —
-2407.8
y/y —
3615.8
y/y —
1208.0
y/y —
357.9
y/y —
834.5—41643.7
y/y —
20000.4
y/y —
8.5%5991.0Link
2023-09-30Q3 2023 (3M)OK2667.2
y/y —
415.7
y/y —
392.0
y/y —
807.8
y/y —
204.5
y/y —
545.4-1021.240601.7
y/y —
20022.6
y/y —
1.4%6962.5Link
2023-06-30Q2 2023 (3M)OK2607.9
y/y —
781.8
y/y —
319.4
y/y —
1101.2
y/y —
378.0
y/y —
837.4-1093.139344.1
y/y —
19575.7
y/y —
7.7%6216.9Link
2023-03-31Q1 2023 (3M)OK2805.0
y/y —
1374.7
y/y —
99.3
y/y —
1474.0
y/y —
844.8
y/y —
809.3-423.939839.2
y/y —
19502.3
y/y —
—5874.6Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)304
Long-term debt (incl. LT leases)6 126
− Cash & equivalents4 408
Net debt2 022

Net debt / LTM EBITDA: 0.5x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

01 0002 0003 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-100%0%100%200%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-2 00002 0004 0006 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

-2 00002 0004 0006 0008 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.77x of reported net profit; after capex, -1.02x.
year20212022202320242025
cash flow / profit1.62x2.42x1.77x9.86x1.38x
accruals, % of assets-3.9%-8.9%-3.2%-5.3%-0.9%
Last twelve months (to 2026-06-30): 1.80x of profit came back as operating cash flow.
net debt / EBITDA -0.0x · capex 1.5x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Copper-Zinc

Copper output
454 thousand tonnes
2025
Zinc (in concentrate) output
565 thousand tonnes
2025
Zinc (refined) output
230 thousand tonnes
2025

Production, thousand tonnes

28720212702022296202344620244542025

Production

YearProduction, thousand tonnes
2025454
+1.8%
2024446
+50.7%
2023296
+9.6%
2022270
−5.9%
2021287

TECK FY2025 40-F MD&A — Five-Year Production Record (Principal Products): Copper + Zinc (in concentrate + refined). Steelmaking coal divested to Glencore Jul 2024.

Key-commodity price — Copper

Current 14 709spot vs LTM +20%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -20.0% ▼ -0.3 pp 1d

Main driver: Copper +20% vs LTM; revenue ×1.16 vs costs ×1.02; EBITDA 4 297→4 528; at 6.1× EV/EBITDA → -20%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $vs LTM, CAD3y vs LTM
Copper (rev)+52%14 708.9812 225.5910 848.98+20%+20%-11%
Zinc (rev)+27%3 730.653 149.592 995.58+18%+19%-5%
Silver (rev)+9%64.6962.3042.21+4%+4%-32%
Fuel Oil (Europe) (cost)-6%479.94443.06460.87+8%+8%+4%
Electricity Spot (cost)-6%57.8062.1952.40-7%-7%-16%
Lead (rev)+4%1 908.231 989.602 104.01-4%-4%+6%
Molybdenum (rev)+2%35.5028.3925.53+25%+25%-10%
Gold (rev)+2%4 370.224 242.243 229.19+3%+3%-24%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue10 114
LTM EBITDA4 297
LTM cash costs (revenue − EBITDA)5 817
2 · Revenue projection
Revenue multiplier — spot×1.162 (+16%)
= Spot revenue11 750
Revenue multiplier — 3y price×0.897 (-10%)
= 3-year-price revenue9 072
3 · Costs projection
Cost multiplier — spot×1.015 (+2%)
= Spot cash costs5 905
Cost multiplier — 3y price×1.007 (+1%)
= 3-year-price cash costs5 860
4 · EBITDA projection (revenue − costs)
= Spot EBITDA5 844
= 3-year-price EBITDA3 212
Conservative EBITDA = min(spot, avg)4 528
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)6.1x
Target EV = EV/EBITDA × conservative EBITDA27 714
Net debt2 022
Target market cap = EV − net debt25 850
Current market cap32 308

Upside = target market cap ÷ current − 1 = -20.0%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q43 0182 240+34.7%1 208862+40.2%
2024 Q12 9122 723+6.9%1 3181 107+19.1%
2024 Q22 8283 250-13.0%1 2021 556-22.8%
2024 Q32 8583 100-7.8%—1 379—
2025 Q32 4221 912+26.7%767525+46.3%
2025 Q42 1942 134+2.8%545881-38.1%
2026 Q12 8722 372+21.1%1 4671 003+46.2%
2026 Q22 6262 659-1.2%1 5181 195+27.0%

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +16% vs +38% the year before — a -21.6 pp move. 3-year CAGR -17%.
revenue growth by year: 2023 -64% · 2024 +38% · 2025 +16%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 5.3x · target 75th pct (3y) 6.1x · LTM avg 7.9x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-150.089 USDEx-dividend: 0.089 USD per sharePaidYahoo Finance (ex-div)
2026-03-130.092 USDEx-dividend: 0.092 USD per sharePaidYahoo Finance (ex-div)
2025-09-150.09 USDEx-dividend: 0.09 USD per sharePaidYahoo Finance (ex-div)
2025-06-160.092 USDEx-dividend: 0.092 USD per sharePaidYahoo Finance (ex-div)
2025-03-140.087 USDEx-dividend: 0.087 USD per sharePaidYahoo Finance (ex-div)
2024-12-130.088 USDEx-dividend: 0.088 USD per sharePaidYahoo Finance (ex-div)
2024-09-130.46 USDEx-dividend: 0.46 USD per sharePaidYahoo Finance (ex-div)
2024-06-170.091 USDEx-dividend: 0.091 USD per sharePaidYahoo Finance (ex-div)
2024-03-140.093 USDEx-dividend: 0.093 USD per sharePaidYahoo Finance (ex-div)
2023-12-140.093 USDEx-dividend: 0.093 USD per sharePaidYahoo Finance (ex-div)
2023-09-140.092 USDEx-dividend: 0.092 USD per sharePaidYahoo Finance (ex-div)
2023-06-140.094 USDEx-dividend: 0.094 USD per sharePaidYahoo Finance (ex-div)
2023-03-140.455 USDEx-dividend: 0.455 USD per sharePaidYahoo Finance (ex-div)
2022-12-140.092 USDEx-dividend: 0.092 USD per sharePaidYahoo Finance (ex-div)
2022-09-140.095 USDEx-dividend: 0.095 USD per sharePaidYahoo Finance (ex-div)
2022-06-140.097 USDEx-dividend: 0.097 USD per sharePaidYahoo Finance (ex-div)
2022-03-140.49 USDEx-dividend: 0.49 USD per sharePaidYahoo Finance (ex-div)
2021-12-140.039 USDEx-dividend: 0.039 USD per sharePaidYahoo Finance (ex-div)
2021-09-140.04 USDEx-dividend: 0.04 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Teck Resources — from primary filings.

Teck Resources Limited is a Canadian mining company that explores, develops, and produces copper, zinc, and other metals, with operations in the Americas, Asia, and Europe.

Frequently asked questions

What is Teck Resources's P/E ratio?
Teck Resources trades at a P/E of 17.9x (price to trailing 12-month earnings).
What is Teck Resources's EV/EBITDA?
Teck Resources trades at 8.4x EV/EBITDA.
What is Teck Resources's P/B ratio?
Teck Resources trades at a P/B of 1.8x.
What is Teck Resources's dividend yield?
Teck Resources's trailing 12-month dividend yield is 0.4%.
What is Teck Resources's return on equity (ROE)?
Teck Resources's ROE is 12.7%.
What is Teck Resources's market capitalization?
Teck Resources's market cap is 32.3 bn USD.

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