TRPNYSENatural Gas TransmissionFiscal year ends December 31Also trades as TCANF, TCENF, TCEYF, TNCAF, TRPEF, TRPPF, TRPRF
TC ENERGY CORP
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 40-F on Feb 13, 2026
$60.69−1.05 (-1.70%)
Close on Oct 19, 2026
TC ENERGY CORP revenue by segment
By business segment
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S. Natural Gas Pipelines | C$7.15B | C$6.34B | C$6.23B | C$6.07B | C$5.38B | C$5.20B | C$5.14B | C$4.31B | C$3.58B | C$2.58B | 46.9% | +12.7% |
| Canadian Natural Gas Pipelines | C$5.79B | C$5.60B | C$5.17B | C$4.76B | C$4.52B | C$4.47B | C$4.01B | C$4.04B | C$3.69B | C$3.68B | 38.0% | +3.3% |
| Mexico Natural Gas Pipelines | C$1.45B | C$870.00M | C$846.00M | C$688.00M | C$605.00M | C$716.00M | C$603.00M | C$619.00M | C$570.00M | C$378.00M | 9.5% | +66.7% |
| Power and Energy Solutions | C$845.00M | C$954.00M | C$1.02B | C$924.00M | C$724.00M | C$412.00M | – | – | – | – | 5.5% | -11.4% |
| Corporate | C$14.00M | C$8.00M | C$0 | C$0 | – | – | – | – | – | – | 0.1% | +75.0% |
| Energy | – | – | – | – | – | – | – | C$2.18B | C$3.59B | C$4.21B | – | – |
| Liquids Pipelines Segment | – | – | C$2.67B | C$2.67B | C$2.31B | C$2.37B | C$2.88B | C$2.58B | C$2.01B | C$1.76B | – | – |
| Power and Storage | – | – | – | – | C$738.00M | C$432.00M | C$804.00M | C$2.12B | C$3.59B | – | – | – |
| Operating income | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S. Natural Gas Pipelines | C$3.93B | C$4.05B | C$3.53B | C$2.62B | C$3.07B | C$2.84B | C$2.75B | C$1.70B | C$1.76B | C$1.19B | -3.1% |
| Canadian Natural Gas Pipelines | C$2.16B | C$2.02B | -C$90.00M | -C$1.44B | C$1.45B | C$1.66B | C$1.12B | C$1.25B | C$1.24B | C$1.31B | +7.3% |
| Mexico Natural Gas Pipelines | C$1.19B | C$929.00M | C$796.00M | C$491.00M | C$557.00M | C$669.00M | C$490.00M | C$510.00M | C$426.00M | C$287.00M | +27.7% |
| Power and Energy Solutions | C$773.00M | C$1.10B | C$1.00B | C$833.00M | C$628.00M | C$181.00M | – | – | – | – | -29.9% |
| Energy | – | – | – | – | – | – | – | C$779.00M | C$1.55B | -C$1.16B | – |
| Liquids Pipelines Segment | – | – | C$1.01B | C$1.12B | -C$1.60B | C$1.36B | C$1.85B | C$1.58B | -C$251.00M | C$806.00M | – |
| Power and Storage | – | – | – | – | C$628.00M | C$181.00M | C$455.00M | C$779.00M | C$1.55B | – | – |
By product or service
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Capacity arrangements and transportation | C$11.93B | C$11.41B | C$10.69B | C$9.82B | C$11.17B | C$11.52B | C$11.28B | C$10.28B | – | – | 78.3% | +4.6% |
| Natural gas storage and other | C$1.80B | C$1.39B | C$1.39B | C$1.81B | C$1.46B | C$933.00M | C$729.00M | C$743.00M | – | – | 11.8% | +29.4% |
| Power generation | C$236.00M | C$266.00M | C$427.00M | C$490.00M | C$324.00M | C$192.00M | C$662.00M | C$1.77B | – | – | 1.5% | -11.3% |
By region
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | C$7.20B | C$6.37B | C$6.26B | C$5.94B | C$6.95B | C$6.83B | C$7.56B | C$7.80B | C$8.01B | C$7.30B | 47.3% | +13.1% |
| Canada domestic | C$5.62B | C$5.58B | C$5.34B | C$4.92B | C$4.60B | C$4.39B | C$4.06B | C$4.19B | C$3.62B | C$3.70B | 36.9% | +0.7% |
| Mexico | C$1.45B | C$870.00M | C$846.00M | C$688.00M | C$605.00M | C$716.00M | C$603.00M | C$619.00M | C$570.00M | C$378.00M | 9.5% | +66.7% |
| Canada export | C$968.00M | C$953.00M | C$821.00M | C$765.00M | C$1.23B | C$1.06B | C$1.04B | C$1.08B | C$1.26B | C$1.18B | 6.4% | +1.6% |
From the segment and revenue-disaggregation notes of Tc Energy's 10-K and 10-Q filings (XBRL). Fourth-quarter figures are the fiscal year less the first nine months. Segment names follow the company's own labels and can change when it reorganizes.