Teck Resources Limited

TECK-A.TO

Copper · Basic Materials

Price

C$95.34

+3.34 (+3.63%)

Market Cap

C$46.61B

Exchange

Toronto Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Strong

Cash Flow

Strong

Stability

Strong

Valuation

Mixed

Dividends

Weak

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Share count falling — buybacks

−8.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 540.3M (2021) → 495.4M (2025)

Winston Score History

The full picture

Teck Resources is a Canadian mining company that digs metals and minerals out of the ground and sells them to industrial customers around the world. Its main products are steelmaking coal (used to make steel), copper (used in electronics and construction), and zinc (used to coat metals so they don't rust). It is one of the largest exporters of steelmaking coal in the world and operates major mines in Canada, Chile, and Peru.

Teck makes money by selling these raw materials at market prices, which means its revenue rises and falls with commodity prices it cannot control. The company is in the middle of a major strategic shift — it sold most of its steelmaking coal business in 2023 and is now focused almost entirely on copper, which is in high demand for electric vehicles and power grids. Growing copper production, particularly from its large Quebrada Blanca mine in Chile, is the key growth driver, but falling copper prices remain the biggest financial risk.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+78.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+314.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

C$35M/ year

↓ Declining (-30% vs prior year)

0.3% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

79.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

C$8.5B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Teck Resources Limited grew revenue 78% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

44.3%

Healthy — 44.3% gross margin

Profit after running costs

Operating Margin

40.1%

Excellent — 40.1% operating margin

Return on the money invested

ROCE

11.2%

Below par — 11.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+40.5%

Fast-growing sales (+40.5% YoY)

Profit growth

EPS YoY

+880.8%

Earnings growing fast (+880.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

168%

Turns 168% of profit into real cash

Spare cash per sale

FCF Margin

10.9%

Modest free cash flow (10.9%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.33

Conservative — low debt load (0.33)

Covers its interest

Interest Cover

5.32x

Adequate interest coverage (5.3x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

18.7x

Fair value — P/E 18.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

-6.0

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

0.52%

Small dividend — 0.52% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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