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

62.72 0.11 +0.18%
Market cap
$65.2B
P/E
26.0×
Fwd P/E
23.4×
Dividend yield
3.99%
F-score
6/9
Altman Z
0.83
Beneish M
−2.50
Dividend safety
0/100

TC Energy Corporation (TRP) Debt to equity

Alert me on Debt to equity

TC Energy Corporation's debt to equity at the end of the quarter to 30 June 2026 was 1.7×, up 0.1× from fiscal 2025 (1.6×). Over the past ten years it has ranged from 1.4× (fiscal 2020) to 1.9× (fiscal 2015); the current reading is higher than 73% of that period. That is above the Oil & Gas Midstream industry median of 0.8× and above the Energy sector median of 0.4×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 1.6× 3.80%
FY2024 1.5× (5.10%)
FY2023 1.6× 6.22%
FY2022 1.5× 7.02%
FY2021 1.4× 3.89%
FY2020 1.4× (2.53%)
FY2019 1.4× (8.12%)
FY2018 1.5× (1.33%)
FY2017 1.6× (8.49%)
FY2016 1.7× (9.43%)

Quarterly newest first

Period Debt to equity Change
Jun 2026 1.7× 4.71%
Mar 2026 1.6× 0.48%
Dec 2025 1.6× 1.69%
Sep 2025 1.6× 2.90%
42 more quarters

Against its own ten years

Low 1.4× High 1.9×
Ten-year median 1.5×
Current reading's percentile 73

Debt to equity against peers

Company Debt to equity
OKE ONEOK, Inc. compare 0.9×
KMI Kinder Morgan, Inc. compare 1.0×
EPD Enterprise Products Partners L.P. compare 1.1×
ET Energy Transfer LP compare 1.4×
WMB Williams Companies, Inc. (The) compare 1.6×
TRP TC Energy Corporation 1.7×
MPLX MPLX LP compare 1.9×
LNG Cheniere Energy, Inc. compare 2.0×
TRGP Targa Resources, Inc. compare 5.0×
Oil & Gas Midstream industry median 0.8×
Energy sector median 0.4×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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