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Canadian diversified miner producing copper and zinc, having recently sold its steelmaking coal business to focus on base metals.
Canadian diversified miner producing copper and zinc, having recently sold its steelmaking coal business to focus on base metals.
Sells copper and zinc concentrate, ore crushed to a metal-rich powder, to smelters at prices linked to metals exchanges, and refines zinc itself at Trail, British Columbia. Selling its steelmaking-coal business in 2024 left copper as the main earner. In 2025 it agreed to combine with Anglo American.
In one line: Canada's Freeport-McMoRan (copper-focused peer).
Moat: narrow (scale, installed base). Large-scale, long-life copper and zinc mines in the Americas, though not the lowest-cost producer.
Headquarters: Vancouver, Canada · Founded: 1906 · Employees: 7,429
Size Teck Resources (TECK-B.TO) is a Canada Materials company (Other Metals/Minerals) with a market value of $29.9B, the 37th largest of 420 Canada companies the cockpit tracks. Shares closed at C$85.38 on 6 Nov 2026.
Performance Over six months the shares gained 2.8%, against -18.5% for the median peer and +5.2% for the Canada market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 44.2% over the last twelve months (peer median +21.9%); the operating margin is 34.4% (peer median 17.3%).
Valuation It trades at 16.2× forward earnings against a peer median of 13.4× (7th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.7 points above its cost of capital (10.4% WACC).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$15.1B | C$10.8B | C$9.06B | C$6.48B | C$17.3B |
| Revenue growth | — | +19% | +40% | -63% | — |
| Gross profit | C$5.77B | C$2.28B | C$1.26B | C$808M | C$8.34B |
| EBITDA | C$7.28B | C$3.67B | C$2.78B | C$1.30B | C$9.40B |
| Net income | C$3.81B | C$1.40B | C$325M | C$2.42B | C$3.32B |
| Free cash flow | C$2.08B | -C$1.02B | -C$708M | -C$978M | C$2.06B |
| Capital expenditure | C$3.06B | C$2.06B | C$2.63B | C$4.34B | C$5.46B |
| Total debt | C$9.76B | C$9.61B | C$9.96B | C$11.1B | C$10.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Teck Resources TECK-B.TO | $29.9B | +3% | +44% | 34% | 16.2× | 4.6% |
| Freeport-McMoRan FCX | $85.3B | -4% | 0% | 24% | 14.3× | 16.3% |
| First Quantum Minerals FM.TO | $19.5B | -1% | +28% | 23% | 15.2× | n/a |
| Glencore GLEN.L | $78.0B | -14% | +27% | 2% | 10.9× | n/a |
| BHP BHP.AX | $203B | -6% | +9% | 39% | 15.7× | -1.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TECK-B.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.4% | -14.3% | 7th highest of 21 |
| 6-month return | +2.8% | -18.5% | 2nd highest of 21 |
| Distance from 52-week high | -14.5% | -34.4% | highest of 21 |
| Revenue growth (TTM) | +44.2% | +21.9% | 5th highest of 21 |
| Operating margin | 34.4% | 17.3% | 5th highest of 21 |
| Forward P/E | 16.2× | 13.4× | 7th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 4.6% | 11.9% | 6th least demanding of 15 |
| Growth delivered (Del g) | +3.7% | +11.2% | 4th lowest of 15 |
| Hurdle (Req g minus delivered) | +0.9 pp | +1.3 pp | 7th least demanding of 15 |
| ROIC minus cost of capital | +0.7 pp | +3.5 pp | 10th lowest of 21 |
| EV / EBITDA | 6.3× | 9.6× | 5th cheapest of 17 |
| Net debt / EBITDA | 0.4× | 0.7× | 6th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Teck Resources TECK-B.TO | Canada | $29.9B | +3% | +44% | 34% | 16.2× | 4.6% | +3.7% |
| Hindustan Zinc HINDZINC.NS | India | $25.4B | -11% | +57% | 51% | 11.8× | 1.4% | +11.7% |
| ATI ATI | United States | $23.9B | +11% | +9% | 18% | 28.0× | 20.6% | +9.0% |
| Hindalco Industries HINDALCO.NS | India | $22.7B | -9% | +20% | 11% | 8.6× | n/a | n/a |
| Antofagasta ANTO.L | United Kingdom | $41.3B | -21% | +20% | 44% | 20.8× | 17.7% | +10.3% |
| First Quantum Minerals FM.TO | Canada | $19.5B | -1% | +28% | 23% | 15.2× | n/a | n/a |
| Lundin Mining LUN.TO | Canada | $18.1B | -18% | +29% | 36% | 14.1× | 15.2% | +13.9% |
| China National Uranium 001280.SZ | China | $17.9B | -29% | +15% | 14% | 47.7× | n/a | n/a |
| Anglo American AAL.L | United Kingdom | $53.7B | -5% | -14% | 23% | 29.6× | 17.0% | -6.7% |
| JX Advanced Metals 5016.T | Japan | $14.6B | -49% | +30% | 11% | 12.7× | 22.2% | -18.6% |
| Boliden BOL.ST | Sweden | $14.6B | -4% | +23% | 16% | 11.3× | 0.6% | +10.7% |
| Korea Zinc 010130.KS | South Korea | $14.4B | -39% | +53% | 8% | 16.2× | n/a | n/a |
| Jiangxi Copper 0358.HK | Hong Kong | $14.3B | -36% | +22% | 4% | 4.7× | n/a | n/a |
| KGHM Polska Miedz KGH.WA | Poland | $14.1B | -27% | +27% | 20% | 6.4× | 1.6% | +9.2% |
| Carpenter Technology CRS | United States | $13.8B | -35% | +10% | 23% | 20.0× | 17.4% | +16.2% |
| South32 S32.AX | Australia | $13.7B | -1% | -4% | 15% | 12.7× | 6.3% | +3.2% |
| China Tungsten & Hightech Materials 000657.SZ | China | $13.2B | -34% | +66% | 16% | 21.0× | n/a | n/a |
| Sumitomo Metal Mining 5713.T | Japan | $13.2B | -19% | +22% | 14% | 8.1× | 8.5% | +13.5% |
| MMG 1208.HK | Hong Kong | $11.2B | -27% | +48% | 43% | 6.3× | -11.3% | +15.6% |
| Freeport-McMoRan FCX | United States | $85.3B | -4% | 0% | 24% | 14.3× | 16.3% | +12.6% |
| Western Mining 601168.SS | China | $9.85B | -7% | +18% | 17% | 8.2× | -5.6% | +16.5% |