Sunday 11 October 2026 Export all TRP data to Excel Powerpack

TC Energy Corporation

TC Energy Corporation’s revenue for fiscal 2025 (year ended December 2025) was $10.9 billion, up 8.52% from fiscal 2024. In the quarter to June 2026, revenue grew 5.59%, EPS grew 18.3%, free cash flow grew 24.2% and total debt rose 10.3%, each against the same quarter a year earlier.

60.05 0.07 +0.12%

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Market cap: $62.5B
P/E: 24.9×
Fwd P/E: 24.9×
Dividend yield: 4.16%
F-score: 6/9
Altman Z: 0.83
Beneish M: −2.50
Dividend safety: 0/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.19%

Capital & Financial Ratios $m

Market Cap 62,500.00

Revenue 11,349.01

Net Income 3,036.20

Free Cash Flow 2,928.34

Net Debt 43,951.23

Current Ratio 0.61

Debt/Equity 1.68

P/E ratio 24.92

Fwd P/E 24.90

P/S ratio 5.51

P/B ratio 2.46

Past 5Y EPS Growth (7.95%)

This Y EPS Growth 4.16%

Next Y EPS Growth 4.94%

Next Y revenue growth 2.59%

Next 5Y EPS Growth 5.08%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 64.23%

10-year low 10-year high

P/S against its own 10 years 89.36%

10-year low 10-year high

P/B against its own 10 years 84.16%

10-year low 10-year high

EV/Sales against its own 10 years 87.04%

10-year low 10-year high

EV/FCF against its own 10 years 17.32%

10-year low 10-year high

Dividends

Payout Ratio 1.04

Annual Dividend Rate 2.50

Annual Dividend Yield 4.16%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.45	0.63 0.62 0.63
2025	2.45	0.59 0.62 0.61 0.62
2024	2.69	0.71 0.70 0.71 0.57
2023	2.78	0.69 0.70 0.69 0.70
2022	2.74	0.72 0.70 0.66 0.66
2021	2.76	0.69 0.70 0.68 0.69
2020	2.41	0.57 0.59 0.61 0.64
2019	2.28	0.56 0.57 0.57 0.58
2018	1.63	0.54 0.05 0.53 0.51
2017	1.95	0.47 0.48 0.50 0.50
2016	2.29	0.44 0.43 0.43 0.42 0.57

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	2,725	585	120	1,498
Receivables	3,118	1,906	2,000	1,799
Inventory	727	545	560	676
Other	1,854	977	1,700	1,729
	8,424	4,184	4,520	5,702

	2023	2024	2025	Q'26
Payables	5,176	3,866	3,775	3,550
ST’ Debt	2,176	2,157	1,106	3,754
Other	—	—	—	—
	8,754	7,671	7,128	9,344

Compound Annual Growth %

	10y	5y	3y
Sales	2.11%	2.36%	(1.81%)
Cash Flow	5.01%	(0.04%)	2.35%
Earnings	0.00%	(6.06%)	70.26%
Book Value	6.38%	1.35%	0.21%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2,814	2,858	—	—	—
’25	2,523	2,707	2,689	2,988	10,907
’24	3,145	2,985	2,993	927	10,050
’23	2,904	2,849	2,936	3,115	11,804
’22	2,764	2,848	2,911	2,998	11,520
’21	2,670	2,591	2,574	2,847	10,681
’20	2,549	2,229	2,398	2,528	9,704

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1,897	1,584	—	—	—
’25	946	1,607	1,404	1,300	5,258
’24	1,514	1,188	1,412	1,503	5,617
’23	1,533	1,133	1,365	1,354	5,384
’22	1,348	727	1,259	1,571	4,904
’21	1,316	1,434	1,293	1,455	5,498
’20	1,285	1,122	1,436	1,426	5,269

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1,117	949	—	—	—
’25	(140)	764	485	377	1,486
’24	343	265	663	318	1,590
’23	140	(377)	(163)	(123)	(523)
’22	157	(253)	(102)	(35)	(233)
’21	17	405	201	176	799
’20	(204)	2,193	(130)	(29)	1,830

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.63	0.69	—	—	—
’25	0.65	0.58	0.42	0.67	2.34
’24	0.86	0.68	1.03	0.67	3.23
’23	0.95	0.18	(0.14)	1.04	2.04
’22	0.28	0.71	0.64	(1.05)	0.49
’21	(0.85)	0.81	0.64	0.90	1.48
’20	0.91	0.99	0.72	0.92	3.54

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	28.40	44.90	34.58	35.19	32.37	40.17	39.11	32.52	34.95	43.51	Analyst estimates 2026–2028 Powerpack
	High	48.52	51.85	49.89	53.95	57.92	55.34	59.38	45.18	50.37	56.34
People
People	Employees	7,165	6,779	7,081	7,305	7,283	7,017	7,477	7,415	6,668	6,574
	Revenue/emp, $m	1.32	1.53	1.49	1.37	1.33	1.52	1.54	1.59	1.51	1.66
Income, $m
Income, $m	Revenue	9,444	10,375	10,553	9,989	9,704	10,681	11,520	11,804	10,050	10,907
	Gross margin, %	69.46	70.96	73.75	70.51	70.17	69.39	67.07	69.33	67.95	69.69
	EBT	632	2,550	3,047	3,909	3,812	1,728	1,057	2,971	4,310	3,896
	EBT margin, %	6.69	24.58	28.87	39.13	39.29	16.18	9.17	25.17	42.89	35.72
	Net income	366	2,619	2,713	3,341	3,668	1,633	604	2,273	3,926	2,930
	Depreciation	1,464	1,585	1,813	1,857	1,933	2,012	1,988	2,058	2,035	1,982
Per share, $
Per share, $	Revenue	12.44	11.90	11.70	10.75	10.32	10.98	11.58	11.46	9.68	10.49
	Earnings	0.12	2.65	3.02	3.23	3.54	1.49	0.49	2.04	3.23	2.34
	Cash flow	5.04	4.63	5.61	5.74	5.61	5.65	4.93	5.23	5.41	5.06
	Capex	(4.98)	(1.83)	(7.53)	(4.12)	(3.66)	(4.83)	(5.16)	(5.74)	(3.88)	(3.63)
	Free cash flow	0.07	2.80	(1.92)	1.63	1.95	0.82	(0.23)	(0.51)	1.53	1.43
	Book value	25.85	23.79	26.51	26.28	26.27	27.39	26.37	28.06	26.97	25.39
	Shares, m	759	872	902	929	940	973	995	1,030	1,038	1,040
Valuation, ×
Valuation, ×	P/E	214.86	18.69	11.78	16.50	11.50	31.03	67.26	19.35	14.36	23.67
	P/S	3.63	4.15	3.05	4.96	3.94	4.24	3.37	3.43	4.81	5.25
	P/B	2.06	2.43	1.55	2.31	1.76	1.90	1.60	1.50	1.85	2.31
	EV/Sales	7.07	7.17	6.49	8.30	7.32	7.74	6.80	7.16	9.03	9.10
	EV/FCF	1,300.17	30.47	(39.47)	54.85	38.80	103.58	(336.24)	(161.67)	57.07	66.79
Cash, $m
Cash, $m	Operating cash flow	3,828	4,034	5,057	5,337	5,269	5,498	4,904	5,384	5,617	5,258
	Capex	(3,777)	(1,594)	(6,792)	(3,826)	(3,438)	(4,699)	(5,137)	(5,907)	(4,026)	(3,772)
	Free cash flow	51	2,441	(1,735)	1,511	1,830	799	(233)	(523)	1,590	1,486
Balance, $m
Balance, $m	Working capital	305	(4,009)	(6,026)	(3,955)	(5,066)	(4,483)	(7,365)	(330)	(3,487)	(2,607)
	Total debt	33,290	32,204	36,630	34,363	33,878	37,980	40,028	46,819	43,043	42,145
	Net debt	32,523	31,364	36,286	33,351	32,736	37,443	39,551	44,095	42,458	42,024
	Shareholders’ equity	19,622	20,744	23,911	24,414	24,694	26,647	26,242	28,897	27,995	26,409
Returns, %
Returns, %	ROA	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
	ROE	0.65	13.48	14.18	14.18	15.43	6.35	2.05	8.16	12.60	9.55

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
WMB Williams Companies, Inc. (The)	$88.5B	28.9×	30.7×	+9.78% (above 0%: growing)	+51.11% (above 0%: growing)	−195.82% (below 0%: shrinking)	83.33%	38.72%	Compare
EPD Enterprise Products Partners L.P.	$79.4B	12.5×	13.0×	+60.78% (above 0%: growing)	+27.27% (above 0%: growing)	+162.10% (above 0%: growing)	12.06%	12.31%	Compare
KMI Kinder Morgan, Inc.	$71.8B	20.8×	21.4×	+10.76% (above 0%: growing)	+21.88% (above 0%: growing)	−52.59% (below 0%: shrinking)	68.62%	30.06%	Compare
ET Energy Transfer LP	$71.0B	13.9×	13.1×	+78.43% (above 0%: growing)	+84.37% (above 0%: growing)	+146.15% (above 0%: growing)	21.55%	10.41%	Compare
TRP TC Energy Corporation	$62.5B	24.9×	24.9×	+5.59% (above 0%: growing)	+18.28% (above 0%: growing)	+24.24% (above 0%: growing)	70.23%	54.92%
TRGP Targa Resources, Inc.	$61.9B	27.3×	24.7×	+4.23% (above 0%: growing)	+22.92% (above 0%: growing)	+1,002.09% (above 0%: growing)	48.15%	27.80%	Compare
MPLX MPLX LP	$58.1B	12.1×	13.1×	+10.29% (above 0%: growing)	+2.91% (above 0%: growing)	−38.89% (below 0%: shrinking)	56.91%	41.61%	Compare
LNG Cheniere Energy, Inc.	$57.4B	20.6×	— (loss-making)	+23.51% (above 0%: growing)	+100.55% (above 0%: growing)	+452.21% (above 0%: growing)	83.04%	74.84%	Compare
OKE ONEOK, Inc.	$56.9B	15.5×	15.5×	+52.77% (above 0%: growing)	+14.18% (above 0%: growing)	+85.57% (above 0%: growing)	23.30%	13.22%	Compare
Median of peers	$66.4B	18.0×	15.5×	+17.14%	+25.10%	+115.86%	52.53%	28.93%

All 58 Oil & Gas Midstream stocks →

TC Energy Corporation (TRP) key facts

Strength: TC Energy Corporation’s revenue for fiscal 2025 (year ended December 2025) was $10.9 billion, up 8.52% from fiscal 2024.
TC Energy Corporation (TRP) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
As of October 9, 2026, TRP traded at $60.05, a market capitalization of $62.5 billion.
TC Energy Corporation pays an annual dividend of $2.50 per share, a yield of 4.16%, with a payout ratio of 103.8%.
Return on equity was 9.55% and debt-to-equity 1.68.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 0.83 (distress zone) for fiscal 2025.