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Sunday 1 November 2026
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TC Energy Corporation
TRP Energy Oil & Gas Midstream
TC Energy Corporation’s revenue for fiscal 2025 (year ended December 2025) was $10.9 billion, up 8.52% from fiscal 2024.
- Revenue
- +5.59%
- EPS
- +18.3%
- Free cash flow
- +24.2%
- Total debt
- +10.3%
Quarter to June 2026, against a year earlier
64.50
0.17
+0.26%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
197.48 | 17.17 | 10.83 | 15.17 | 10.57 | 28.52 | 61.83 | 17.78 | 14.36 | 23.67 |
Piotroski F-Score |
5 | 6 | 5 | 6 | 4 | 5 | 4 | 6 | 5 | 6 |
P/S ratio |
3.33 | 3.81 | 2.80 | 4.56 | 3.63 | 3.90 | 3.10 | 3.15 | 4.81 | 5.25 |
Altman Z-Score |
0.69 | 0.78 | 0.61 | 0.89 | 0.77 | 0.68 | 0.59 | 0.66 | 0.71 | 0.83 |
Altman Z″-Score (non-manufacturers) |
0.75 | 0.46 | 0.43 | 0.75 | 0.70 | 0.52 | 0.31 | 0.82 | 0.51 | 0.56 |
P/FCF ratio |
612.92 | 16.20 | 0.00 | 30.13 | 19.22 | 52.12 | 0.00 | 0.00 | 30.37 | 38.51 |
Beneish M-Score |
(2.22) | (2.39) | (2.65) | (2.71) | (2.70) | (1.75) | (2.82) | (2.55) | (2.93) | (2.50) |
P/Operating CF |
23.94 | 40.74 | 18.49 | 33.59 | 24.67 | 28.61 | 22.72 | 27.47 | 32.14 | 44.01 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 0 |
P/B ratio |
1.89 | 2.24 | 1.42 | 2.13 | 1.62 | 1.74 | 1.47 | 1.37 | 1.85 | 2.31 |
Price to Tangible BV |
8.30 | 6.14 | 3.51 | 4.52 | 2.87 | 3.01 | 2.47 | 2.09 | 2.98 | 3.70 |
EV/Sales |
6.78 | 6.83 | 6.24 | 7.90 | 7.00 | 7.40 | 6.53 | 6.89 | 9.03 | 9.10 |
EV/EBITDA |
16.67 | 15.05 | 10.75 | 11.41 | 9.67 | 15.13 | 10.56 | 9.96 | 12.27 | 12.83 |
EV/Operating CF |
16.72 | 17.57 | 13.03 | 14.78 | 12.89 | 14.38 | 15.34 | 15.10 | 16.16 | 18.87 |
EV/FCF |
1,246.22 | 29.05 | (37.97) | 52.20 | 37.11 | 99.00 | (322.79) | (155.41) | 57.07 | 66.79 |
Quick Ratio |
0.40 | 0.37 | 0.23 | 0.29 | 0.31 | 0.38 | 0.25 | 0.67 | 0.32 | 0.30 |
Current Ratio |
1.05 | 0.47 | 0.40 | 0.59 | 0.43 | 0.57 | 0.43 | 0.96 | 0.55 | 0.63 |
Net Debt/EBITDA |
8.47 | 6.66 | 5.92 | 4.83 | 4.66 | 7.16 | 5.55 | 5.40 | 5.74 | 5.43 |
Debt/Assets |
50.06% | 48.49% | 48.00% | 45.93% | 45.25% | 45.67% | 45.51% | 50.55% | 49.88% | 49.59% |
Debt/Equity |
1.70 | 1.55 | 1.53 | 1.41 | 1.37 | 1.43 | 1.53 | 1.62 | 1.54 | 1.60 |
Asset Turnover |
0.16 | 0.16 | 0.15 | 0.13 | 0.13 | 0.14 | 0.13 | 0.13 | 0.11 | 0.13 |
Operating CF/Net income |
40.88 | 1.75 | 1.85 | 1.78 | 1.58 | 3.80 | 9.95 | 2.57 | 1.68 | 2.16 |
Capex/Depreciation |
(2.58) | (1.01) | (3.75) | (2.06) | (1.78) | (2.34) | (2.58) | (2.87) | (1.98) | (1.90) |
Interest Coverage |
1.57 | 1.96 | 2.47 | 2.87 | 3.06 | 1.71 | 2.58 | 2.52 | 2.43 | 2.36 |
| 0.65% | 13.48% | 14.18% | 14.18% | 15.43% | 6.35% | 2.05% | 8.16% | 12.60% | 9.55% | |
| 0.16% | 3.48% | 3.83% | 3.97% | 4.45% | 1.83% | 0.58% | 2.32% | 3.75% | 2.84% | |
ROIC |
2.85% | 3.75% | 4.48% | 5.47% | 5.54% | 3.13% | 4.88% | 5.22% | 4.75% | 5.25% |
Return on Tangible Assets |
0.23% | 5.75% | 6.03% | 6.60% | 7.08% | 2.81% | 0.97% | 3.53% | 6.32% | 5.04% |
Average Days of Receivables |
60.57 | 68.45 | 67.64 | 66.69 | 60.71 | 117.49 | 88.32 | 96.42 | 69.20 | 66.92 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
4.44% | 4.23% | 4.16% | 5.48% | 5.59% | 5.78% | 5.66% | 5.63% | 5.95% | 5.78% |
Intangible Assets out of Total Assets |
0.19 | 0.17 | 0.16 | 0.15 | 0.13 | 0.12 | 0.11 | 0.10 | 0.12 | 0.11 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
(1.30) | (1.06) | (1.64) | (0.98) | (1.32) | (1.22) | (1.57) | (1.49) | (1.12) | (0.94) |
Graham Number |
10.17 | 34.70 | 39.69 | 40.93 | 42.90 | 28.77 | 17.86 | 34.63 | 42.87 | 35.31 |
Earnings Yield |
0.51% | 5.82% | 9.23% | 6.59% | 9.46% | 3.51% | 1.62% | 5.62% | 6.96% | 4.22% |
Free Cash Flow Yield |
0.16% | 6.17% | (5.86%) | 3.32% | 5.20% | 1.92% | (0.65%) | (1.41%) | 3.29% | 2.60% |
Revenue per Share |
12.44 | 11.90 | 11.70 | 10.75 | 10.32 | 10.98 | 11.58 | 11.46 | 9.68 | 10.49 |
Operating CF per Share |
5.04 | 4.63 | 5.61 | 5.74 | 5.61 | 5.65 | 4.93 | 5.23 | 5.41 | 5.06 |
Capex per Share |
(4.98) | (1.83) | (7.53) | (4.12) | (3.66) | (4.83) | (5.16) | (5.74) | (3.88) | (3.63) |
Free Cash Flow per Share |
0.07 | 2.80 | (1.92) | 1.63 | 1.95 | 0.82 | (0.23) | (0.51) | 1.53 | 1.43 |
Cash per Share |
1.01 | 0.96 | 0.38 | 1.09 | 1.22 | 0.55 | 0.48 | 2.65 | 0.56 | 0.12 |
Shareholders Equity per Share |
25.85 | 23.79 | 26.51 | 26.28 | 26.27 | 27.39 | 26.37 | 28.06 | 26.97 | 25.39 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
25.85 | 23.79 | 26.51 | 26.28 | 26.27 | 27.39 | 26.37 | 28.06 | 26.97 | 25.39 |
Free Cash Flow |
51.35 | 2,440.71 | (1,735.10) | 1,510.97 | 1,830.42 | 798.70 | (233.07) | (523.00) | 1,590.23 | 1,485.79 |
Working Capital |
305.10 | (4,008.97) | (6,026.19) | (3,954.89) | (5,065.75) | (4,482.60) | (7,365.09) | (329.65) | (3,486.98) | (2,607.29) |
Capital Expenditures |
(3,776.75) | (1,593.71) | (6,792.29) | (3,826.03) | (3,438.38) | (4,698.83) | (5,136.72) | (5,907.14) | (4,026.31) | (3,771.74) |
Net Current Asset Value |
(40,768.71) | (42,064.44) | (48,444.03) | (44,636.48) | (46,297.18) | (50,586.07) | (56,074.68) | (55,303.68) | (54,114.67) | (54,061.12) |
EV/EBIT |
26.94 | 22.68 | 15.27 | 15.61 | 13.34 | 24.60 | 14.64 | 13.32 | 16.93 | 17.25 |
Capex to Sales |
0.40 | 0.15 | 0.64 | 0.38 | 0.35 | 0.44 | 0.45 | 0.50 | 0.40 | 0.35 |
Price to Operating Income |
13.25 | 12.65 | 6.86 | 9.01 | 6.91 | 12.95 | 6.94 | 6.09 | 9.01 | 9.95 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.04 | 0.04 |
Cash ROIC |
0.10% | 4.54% | (2.85%) | 2.53% | 3.07% | 1.23% | (0.35%) | (0.67%) | 2.22% | 2.16% |
Accounts Receivable Turnover |
7.11 | 5.91 | 5.41 | 5.28 | 5.64 | 4.23 | 3.70 | 4.00 | 4.00 | 5.59 |
Accounts Payable Turnover |
1.09 | 1.00 | 0.76 | 0.78 | 0.92 | 0.95 | 0.79 | 0.68 | 0.71 | 0.87 |
Inventory Turnover |
10.86 | 10.58 | 8.88 | 8.75 | 7.15 | 6.24 | 5.85 | 5.00 | 5.06 | 5.98 |
Average Days of Payables |
369.01 | 379.11 | 549.69 | 424.29 | 359.16 | 454.16 | 529.07 | 521.84 | 438.12 | 416.76 |
Days of Inventory on Hand |
35.17 | 35.32 | 43.81 | 42.21 | 59.20 | 64.49 | 69.27 | 73.34 | 61.78 | 61.79 |
Average Receivables |
1,327.33 | 1,756.26 | 1,950.61 | 1,890.49 | 1,719.58 | 2,526.04 | 3,112.87 | 2,952.80 | 2,511.77 | 1,952.59 |
Average Payables |
2,641.53 | 3,022.70 | 3,650.92 | 3,798.32 | 3,136.50 | 3,458.57 | 4,783.75 | 5,337.49 | 4,520.86 | 3,820.18 |
Average Inventory |
265.51 | 284.75 | 312.05 | 336.57 | 405.09 | 523.61 | 648.83 | 723.72 | 636.31 | 552.42 |
Average Assets |
58,512.18 | 66,457.22 | 71,367.55 | 75,566.72 | 74,845.31 | 79,014.75 | 85,556.01 | 90,290.84 | 89,459.47 | 85,641.92 |
Average Common Equity |
14,442.28 | 17,145.11 | 19,257.04 | 21,127.79 | 21,569.10 | 22,793.77 | 24,092.10 | 25,682.84 | 26,608.62 | 25,483.04 |
Columns are period end dates