TC Energy Corporation

TC Energy Corporation

TRP
TC Energy CorporationUS flagNew York Stock Exchange
60.69
USD
-1.05
- -
63.22BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
12.44
14.39
16.01
16.53
15.42
15.17
14.27
13.83
13.76
12.37
12.88
13.27
14.65
15.07
Basic EPS, GAAP
2.42
2.46
-1.75
0.16
3.44
3.92
4.28
4.74
1.87
0.64
2.75
4.43
3.27
3.34
Free Cash Flow per Basic Share
5.2
5.97
6.18
6.68
6
7.27
7.62
7.51
7.08
6.41
7.06
7.41
7.06
8.29
Dividend per Share
1.92
2.03
2.17
2.02
1.71
1.92
2.11
3.35
3.55
3.31
2.8
3.9
3.48
3.54
Book Value per Share
23.62
23.73
19.84
23.48
23.89
27.62
28.54
29.17
30.37
30.94
26.08
24.15
24.06
24.48
Tangible Book Value per Share
17.13
15.84
10.1
4.89
8.37
11.03
14.81
15.68
17.54
18.32
14
10.99
11.55
11.54
Basic Weighted Avg Shares
707
708
709
759
872
902
929
940
973
995
1,030
1,038
1,040
1,041
Sales/Revenue/Turnover
8,797
10,185
11,353
12,547
13,449
13,679
13,255
12,999
13,387
12,309
13,267
13,771
15,239
15,690
Operating Margin (%)
32.69
32.32
31.1
32.04
33.73
41.53
43.65
44.65
44.12
41.19
44.37
42.02
44.37
45.01
Depreciation Expense
1,485
1,611
1,765
1,939
2,055
2,350
2,464
2,590
2,522
2,584
2,778
2,788
2,769
2,880
Net Income, GAAP
1,786
1,840
-1,146
233
3,157
3,702
4,140
4,616
1,955
748
2,922
4,698
3,519
3,595
Effective Tax Rate (%)
24.23
29.43
- -
42.05
- -
10.94
14.54
3.8
5.54
67.93
25.53
15.61
20.9
19.45
Profit Margin (%)
20.3
18.07
-10.09
1.86
23.47
27.06
31.23
35.51
14.6
6.08
22.02
34.12
23.09
22.91
Working Capital
-2,211
-4,467
-3,444
404
-5,197
-7,811
-5,248
-6,786
-5,618
-9,575
-445
-4,778
-3,643
-5,042
LT Debt
22,955
24,120
31,318
42,243
38,882
44,017
43,370
43,838
46,660
50,519
60,663
56,475
57,822
57,726
Total Equity
20,136
20,653
18,155
25,983
26,891
30,993
32,397
33,473
33,396
34,116
39,008
38,360
36,899
37,475
Return on Invested Capital (%)
5.04
4.89
- -
3.75
- -
6.67
6.03
6.72
6.56
1.81
4.48
4.86
5.46
5.74
Return on Capital (%)
5.61
5.05
- -
1.25
- -
7.2
6.57
7.32
4.43
1.57
4.81
6.12
5.31
5.52
Return on Common Equity (%)
10.57
10.4
-8.06
0.72
14.5
15.25
15.25
16.45
6.35
2.09
9.66
17.62
13.56
13.76

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
2,806
3,647
6,017
LT Borrowings
57,452
58,162
57,726
LT Finance Leases
370
- -
- -
Preferred Equity and Hybrid Capital
2,255
2,255
2,255
Shares Outstanding
1,041
1,042
1,042
Market Capitalization
78,627
90,709
98,046

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
6,316
6,828
7,894
Cash, Cash Equivalents & STI
168
1,083
2,074
Accounts Receivable, Net
2,794
2,380
2,490
Inventories
782
857
936
Total Current Liabilities
9,959
10,502
12,936
Payables & Accruals
5,660
6,686
6,754
ST Debt
2,806
3,647
6,017
Deferred Revenue
46
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.05%
2.16%
-3.81%
Free Cash Flow
5.73%
1.1%
-4.55%
Net Income, GAAP
138.21%
41.39%
-25.1%
Sales/Revenue/Turnover
3.16%
3.43%
10.66%
Total Cash Common Dividend
11.57%
4.99%
-11.3%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,509
3,327
3,358
1,360
13,771
2025
3,623
3,744
3,704
4,168
15,239
2026
3,861
3,957
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.16
0.93
1.4
0.94
4.43
2025
0.94
0.8
0.59
0.94
3.27
2026
0.86
0.95
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.95
0.98
0.98
0.98
3.9
2025
0.85
0.88
0.88
0.88
3.48
2026
0.88
0.9
- -
- -
- -

Company Description

CEO
Francois Lionel Poirier
Full Time Employees
6,574
Sector
Energy
Industry
Oil & Gas Midstream
Address
450 - 1 Street SW Calgary AB Canada T2P 5H1
IPO Date
Sep 20, 1982
Business
TC Energy Corporation (TSX, NYSE: TRP) operates as one of North America's leading energy infrastructure companies, developing and operating extensive networks of natural gas pipelines, liquids pipelines, power generation facilities and energy storage assets across Canada, the United States and Mexico. Founded in 1951 and headquartered at TC Energy Tower in Calgary, Alberta, Canada, with U.S. headquarters in the TC Energy Center in Houston, Texas, the company transports natural gas through its Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines and Mexico Natural Gas Pipelines segments; moves crude oil and liquid hydrocarbons via its Liquids Pipelines segment, including the Keystone System; generates approximately 7,000 megawatts of power from nuclear, natural gas-fired, wind and other renewable sources in its Power and Energy Solutions segment; and provides unregulated natural gas storage services to balance supply and demand. TC Energy serves utilities, industrial users, power generators, refineries, oil producers, provincial grids and local distribution companies, with operations emphasizing reliable transportation, compression, storage and electricity provision supported by long-term contracts and strategic infrastructure connecting key supply basins to demand markets. Recent developments include the mechanical completion of the Southeast Gateway natural gas pipeline project in Mexico 13% under budget at US$3.9 billion in 2024 as part of its public-private partnership with Comisión Federal de Electricidad targeting an in-service date of May 1, 2025; the completion of the sale of the Portland Natural Gas Transmission System in August 2024 for gross proceeds of US$1.14 billion, advancing toward a $3 billion asset divestiture target to strengthen its balance sheet and reduce debt-to-EBITDA to 4.75 times by year-end; an increase in its common share dividend for the twenty-fifth consecutive year announced with fourth-quarter 2024 results; and ongoing investments in renewable energy projects, energy efficiency, green fuels and carbon capture alongside expansions in LNG-related natural gas delivery.

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