TC Energy Corp (TNCAF) stock

TNCAFOTCNatural Gas TransmissionFiscal year ends December 31Also trades as TCANF, TCENF, TCEYF, TRP, TRPEF, TRPPF, TRPRF

Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 40-F on Feb 13, 2026Score 9/30

$15.70+0.00 (0.00%)

Close on Oct 19, 2026Market cap $66.02BP/E 27.1Yield 3.84%

TC Energy statistics

93 measures from SEC filings and the closing price. Hover a name for the formula; the last column is the median of companies in the same industry group.

Important dates

Next earnings: –
Last ex-dividend date: Aug 31, 2026
Fundamentals through: Dec 31, 2025
Share price as of: –

Valuation ratiosIndustry

Market Cap: C$92.14B; C$24.78B
Enterprise Value: C$103.13B; C$53.12B
PE Ratio: 27.07; –
PS Ratio: 6.05; 3.17
PB Ratio: 3.38; 2.56
P/TBV Ratio: 6.45; 3.99
P/OCF Ratio: 12.54; 11.48

Enterprise valuationIndustry

EV / Sales: 6.77; 4.99
EV / EBITDA: 9.54; 12.41
EV / EBIT: 12.83; 22.92

Share statisticsIndustry

Shares Outstanding: 1.04B; 507M
Shares Change (YoY): 0.19%; 0.10%
Float: 1.04B; 507M
Shares Held by Insiders: 0.00%; 0.00%
Shares Held by Institutions: 65.7%; 58.9%

Short sellingIndustry

Short Interest: 46M; –
Short Interest Change: -19.7%; 2.62%
Days to Cover: 17.47; 9.80

Stock price statisticsIndustry

Price Change (1 Week): 0.86%; 2.15%
Price Change (1 Month): 6.64%; 6.29%
Price Change (3 Months): -0.67%; 1.79%
Price Change (6 Months): -4.26%; -0.14%
Price Change (YTD): 15.3%; 5.46%
Price Change (1 Year): 26.5%; 4.80%
Price Change (3 Years): 73.7%; 52.7%
Price Change (5 Years): 23.3%; 17.7%
Price Change (10 Years): 46.8%; –
Average Volume (10 Days): 2M; –
Average Volume (20 Days): 2M; –
Average Volume (90 Days): 3M; –
Relative Volume: 0.60; 0.97
Relative Strength Index (14): 58.6; 59.5
Volatility (1 Year): 19.7%; 17.9%
Beta (5 Years): 0.36; 0.36

MarginsIndustry

Gross Margin: 98.6%; 59.0%
Operating Margin: 52.7%; 26.7%
Pretax Margin: 35.7%; 17.3%
Profit Margin: 23.1%; –
EBITDA Margin: 70.9%; 41.4%

Returns on capitalIndustry

Return on Equity (ROE): 12.8%; –
Return on Assets (ROA): 2.97%; –
Return on Invested Capital (ROIC): 21.8%; 5.92%
Return on Capital Employed (ROCE): 7.39%; 5.69%

Financial positionIndustry

Current Ratio: 0.63; 0.61
Quick Ratio: 0.30; 0.30
Debt / Equity: 0.06; 1.51
Debt / EBITDA: 0.14; 5.56
Net Debt / EBITDA: 0.13; 5.40
Interest Coverage: 2.36; 2.04

GrowthIndustry

Revenue Growth (YoY): 10.7%; 7.19%
Net Income Growth (YoY): -25.1%; –
EPS Growth (YoY): -26.2%; 4.94%
Revenue Growth (3Y CAGR): 7.38%; 4.97%
Revenue Growth (5Y CAGR): 3.23%; 5.39%
EPS Growth (3Y CAGR): 72.2%; –
EPS Growth (5Y CAGR): -7.16%; –

EfficiencyIndustry

Asset Turnover: 0.13; 0.20
Inventory Turnover: 0.27; –
Revenue Per Employee: C$2.52M; –
Profits Per Employee: C$580.79K; –
Employee Count: 6,059; –
WACC: 7.48%; 7.48%

Income statement (TTM)Industry

Revenue: C$15.24B; C$9.04B
Gross Profit: C$15.03B; C$4.56B
Operating Income: C$8.04B; C$2.87B
Pretax Income: C$5.44B; C$1.57B
Net Income: C$3.52B; –
EBITDA: C$10.81B; C$4.41B
EPS (Diluted): 3.27 CAD; 3.33 CAD

Balance sheetIndustry

Cash & Short-Term Investments: C$168.00M; C$349.00M
Total Debt: C$1.55B; C$19.12B
Net Cash (Debt): -C$1.38B; -C$18.57B
Net Cash Per Share: -1.32 CAD; -30.96 CAD
Equity (Book Value): C$27.30B; C$13.38B
Book Value Per Share: 26.22 CAD; 25.71 CAD
Tangible Book Value: C$14.28B; C$7.91B
Working Capital: -C$3.64B; -C$2.24B

Cash flow (TTM)Industry

Operating Cash Flow: C$7.35B; C$2.70B

Dividends and yieldsIndustry

Earnings Yield: 3.82%; –
Dividend Yield: 3.84%; –
Buyback Yield: -0.11%; -0.13%
Shareholder Yield: 3.73%; 3.30%
Dividend Per Share: 3.40 CAD; –
Dividend Growth (YoY): -8.17%; –
Years of Dividend Growth: 0; –
Payout Ratio: 99.7%; –

Taxes and interestIndustry

Interest Expense: C$3.41B; C$1.48B
Income Tax: C$1.14B; C$81.00M
Effective Tax Rate: 20.9%; 10.4%

Scores and fair valueIndustry

Graham Number: 43.93 CAD; 53.19 CAD
Graham Upside: -50.4%; –
Altman Z-Score: 0.92; 0.83
Piotroski F-Score: 7; –

Total return vs. the S&P 500

Price change plus reinvested dividends, to the close on Oct 19, 2026. The S&P 500 is measured by the SPY fund.

Period	TNCAF	S&P 500	Difference	TNCAF per year	S&P 500 per year
1 month	0.0%	+0.6%	−0.6 pts
3 months	+10.0%	+3.4%	+6.6 pts
Year to date	+14.0%	+13.3%	+0.7 pts
1 year	+24.9%	+16.6%	+8.3 pts
3 years	+88.6%	+86.4%	+2.2 pts	+23.6%	+23.1%
5 years	+121.3%	+81.9%	+39.5 pts	+17.2%	+12.7%

Short interest

Shares sold short and not yet covered, reported by brokers to FINRA twice a month. Latest settlement date Oct 15, 2026.

0M TNCAF shares were sold short on Oct 15, 2026, down 2.9% from the previous report. At recent volumes it would take 18.1 days to buy them back.

Settlement date	Shares short	Change	Avg. daily volume	Days to cover
Oct 15, 2026	3,300	-2.9%	182	18.1
Sep 30, 2026	3,400	-17.2%	203	16.8
Sep 15, 2026	4,104	+20.7%	20	205.2
Aug 31, 2026	3,400	+41.7%	182	18.7
Aug 14, 2026	2,400	0.0%	2,214	1.1
Jul 31, 2026	2,400	0.0%	0	1000.0
Jul 15, 2026	2,400	-22.6%	583	4.1
Jun 30, 2026	3,100	+3000.0%	60	51.7
Jun 15, 2026	100	–	4	25.0
Apr 15, 2025	20,402	–	195	104.6
Jan 15, 2025	300	–	474	1.0
Dec 13, 2024	731	-62.6%	536	1.4