TECK

MKT CAP:$29B

Teck Resources Limited

Market Cap

$29B

Basic Materials·Industrial Materials·🇨🇦 Canada·NYSE

Materials·Industrial·🇨🇦·NYSE

Stock Price

$60.35+$12.32 (+25.65%)

Apr 24, 2026

Company Details

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. The company's pr...

CEO

Jonathan H. Price

IPO Date

Jul 18, 2002

Website

www.teck.com

Key Metrics TTM

Revenue

$6.8B

-41.5% YoY

Net Income

$402M

EPS (Diluted)

$0.73

Free Cash Flow

-$840M

Revenue / Share

$13.92

Gross Margin

21.2%

Operating Margin

3.6%

Net Margin

5.9%

FCF Margin

-12.3%

P/S

4.3x

P/E

72.1x

Earnings Reports

FY 2025

Feb 19, 2026

$7.9BEPS $2.07

Q4 2025

Feb 19, 2026

$2.2BEPS $0.81

Q3 2024

Oct 24, 2024

$2.1B+43.7%EPS -$1.06

Q2 2024

Jun 28, 2024

$1.3BEPS $0.50

Q1 2024

Mar 29, 2024

$1.2BEPS $0.48

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 18	$2.3B	$737M	$1.2B
Q1 19	$2.3B	$761M	$703M
Q3 19	$2.2B	$575M	$439M
Q4 19	$1.9B	$336M	-$1.7B
Q1 20	$1.7B	$291M	-$257M
Q4 20	$1.9B	$369M	-$364M
Q2 21	$1.9B	$504M	$394M
Q3 21	$2.9B	$1.2B	$1.1B
Q4 21	$3.2B	$1.5B	$1.6B
Q2 22	$3.9B	$2.3B	$1.9B
Q3 22	$3.1B	$1.3B	$907M
Q3 23	$1.5B	$191M	-$3M
Q1 24	$1.2B	$124M	$1M
Q2 24	$1.3B	$305M	$228M
Q3 24	$2.1B	$349M	-$459M
Q4 25	$2.2B	$668M	$475M

Valuation

Quarter	P/S	P/E
Q3 18	1.6x	6.1x
Q1 19	1.5x	5.5x
Q3 19	1.0x	4.2x
Q4 19	1.1x	29.4x
Q1 20	0.5x	—
Q4 20	1.2x	—
Q2 21	1.6x	—
Q3 21	1.6x	62.1x
Q4 21	1.7x	10.7x
Q2 22	1.6x	6.1x
Q3 22	1.3x	6.4x
Q3 23	1.9x	9.1x
Q1 24	2.5x	15.6x
Q2 24	3.5x	43.3x
Q3 24	4.2x	123.2x
Q4 25	3.4x	57.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 18	$641M	$215M
Q1 19	$380M	-$118M
Q3 19	$776M	$58M
Q4 19	$571M	-$185M
Q1 20	$204M	-$520M
Q4 20	$434M	-$333M
Q2 21	$420M	-$474M
Q3 21	$1.1B	$197M
Q4 21	$1.5B	$600M
Q2 22	$2.1B	$1.2B
Q3 22	$1.3B	$362M
Q3 23	$538M	-$472M
Q1 24	$31M	-$774M
Q2 24	$969M	$80M
Q3 24	$98M	-$360M
Q4 25	$748M	$215M

Capital Expenditures

Quarter	CapEx
Q3 18	$426M
Q1 19	$498M
Q3 19	$718M
Q4 19	$756M
Q1 20	$723M
Q4 20	$767M
Q2 21	$894M
Q3 21	$884M
Q4 21	$933M
Q2 22	$965M
Q3 22	$960M
Q3 23	$1.0B
Q1 24	$805M
Q2 24	$889M
Q3 24	$458M
Q4 25	$533M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 18	+39.2%	-23.7%
Q1 19	+9.1%	+24.2%
Q3 19	-1.8%	+30.3%
Q4 19	-12.0%	+156.5%
Q1 20	-25.9%	+78.7%
Q4 20	-17.6%	+42.6%
Q2 21	-15.7%	-17.1%
Q3 21	+49.5%	-50.5%
Q4 21	+85.4%	-19.2%
Q2 22	+107.0%	-13.9%
Q3 22	+66.5%	+49.5%
Q3 23	-49.9%	-19.1%
Q1 24	-63.3%	-26.6%
Q2 24	-66.0%	-43.4%
Q3 24	-32.9%	+15.5%
Q4 25	+53.6%	+20.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 18	$0	0.0%
Q1 19	$0	0.0%
Q3 19	$0	0.0%
Q4 19	$4M	0.2%
Q1 20	$0	0.0%
Q4 20	$0	0.0%
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q2 22	$4M	0.1%
Q3 22	$24M	0.8%
Q3 23	$19M	1.3%
Q1 24	$0	0.0%
Q2 24	$20M	1.6%
Q3 24	$0	—
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q3 18	$7M	$26M	—
Q1 19	$7M	$41M	—
Q3 19	$18M	$6M	—
Q4 19	$16M	$36M	—
Q1 20	$16M	$730.8K	—
Q4 20	$34M	$58M	—
Q2 21	$23M	$50M	—
Q3 21	$30M	$54M	—
Q4 21	$23M	$75M	—
Q2 22	$25M	$40M	—
Q3 22	$29M	$64M	—
Q3 23	$26M	$67M	—
Q1 24	$13M	$69M	—
Q2 24	$10M	$74M	—
Q3 24	$4M	$77M	—
Q4 25	$9M	—	$62M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$2.0B	$0	$2.0B
Q3 22	$1.9B	$0	$1.9B
Q4 22	$1.4B	$0	$1.4B
Q1 23	$1.7B	$0	$1.7B
Q2 23	$1.3B	$0	$1.3B
Q3 23	$981M	$0	$981M
Q4 23	$544M	$0	$544M
Q1 24	$946M	$0	$946M
Q2 24	$671M	$0	$671M
Q3 24	$5.3B	$0	$5.3B
Q4 24	$5.5B	$0	$5.5B
Q1 25	$4.5B	$0	$4.5B
Q2 25	$3.5B	$0	$3.5B
Q3 25	$3.5B	$0	$3.5B
Q4 25	$3.7B	$0	$3.7B
Q1 26	$4.0B	$0	$4.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 18	582M	-0.1%	-0.5%
Q1 19	574M	-1.4%	-1.9%
Q3 19	562M	-2.2%	-3.7%
Q4 19	552M	-1.8%	-5.3%
Q1 20	544M	-1.3%	-6.5%
Q4 20	531M	-2.4%	-7.5%
Q2 21	540M	+1.6%	-4.0%
Q3 21	540M	+0.1%	-2.1%
Q4 21	543M	+0.4%	-0.3%
Q2 22	546M	+0.6%	+2.8%
Q3 22	530M	-2.9%	-1.8%
Q3 23	527M	-0.5%	-2.4%
Q1 24	524M	-0.6%	-3.4%
Q2 24	524M	-0.1%	-4.0%
Q3 24	520M	-0.8%	-1.9%
Q4 25	490M	-5.8%	-7.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 18	$349.5K	7K
Q1 19	$338.3K	7K
Q3 19	$330.5K	7K
Q4 19	$289.2K	7K
Q1 20	$258.9K	7K
Q4 20	$278.8K	7K
Q2 21	$278.6K	7K
Q3 21	$432.4K	7K
Q4 21	$479.9K	7K
Q2 22	$577.2K	7K
Q3 22	$464.0K	7K
Q3 23	$216.6K	7K
Q1 24	$176.3K	7K
Q2 24	$196.3K	7K
Q3 24	$311.3K	7K
Q4 25	$332.8K	7K

Revenue / Employee