TC Energy Corp (TRPEF) income statement

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

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

$14.00+0.00 (0.00%)

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

TC Energy Corp income statement

AnnualQuarterlyTTM

CAD USD

Millions of CAD, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31	FY 2014 2014-12-31	FY 2013 2013-12-31	FY 2012 2012-12-31	FY 2011 2011-12-31	FY 2010 2010-12-31
Revenue	15,239	13,771	13,267	12,309	13,387	12,999	13,255	13,679	13,449	12,547	11,353	10,185	8,797	8,007	7,839	6,852
Cost of Revenue	208	217	80	22	87	0	365	1,486	2,382	2,172	–	–	–	–	–	–
Gross Profit	15,031	13,554	13,187	12,287	13,300	12,999	12,890	12,193	11,067	10,375	–	–	–	–	–	–
Total Costs & Expenses	8,477	7,985	7,380	7,810	10,256	7,195	7,469	8,799	10,169	9,915	11,567	6,893	5,921	5,435	5,087	4,918
Operating Income	8,036	7,964	5,097	2,450	4,059	6,773	6,585	5,764	4,684	2,313	101	3,931	3,473	2,829	3,167	2,387
Interest Expense	3,407	3,019	2,966	2,300	2,360	2,228	2,333	2,265	2,069	1,998	1,370	1,198	985	976	937	701
Income from Equity Investments	1,274	1,558	1,310	999	898	1,019	920	714	773	514	440	522	597	257	415	453
Other Non-Operating Income	205	324	272	140	190	185	460	-76	184	103	–	–	–	–	–	–
Merger & Restructuring Charges	–	–	–	–	2,775	0	0	42	6.00	44	–	–	–	–	–	–
Asset Impairment Charges	–	21	-4.00	453	2,775	0	0	801	1,257	1,388	3,745	0	0	–	–	–
Gain (Loss) on Sale of Assets	0	620	0	0	30	-50	-121	170	631	-833	-125	117	0	0	–	–
Pretax Income	5,444	5,906	3,298	474	2,166	5,107	5,187	3,949	3,306	837	-1,106	2,824	2,522	1,938	2,285	1,780
Income Tax Expense	1,138	922	842	322	120	194	754	432	-89	352	34	831	611	466	575	387
Income from Continuing Operations	3,731	4,303	2,310	115	–	–	–	–	–	–	–	–	–	–	–	–
Income from Discontinued Operations	-212	395	612	633	–	–	–	–	–	–	–	–	–	–	–	–
Net Income incl. Noncontrolling Interests	4,094	5,379	3,068	785	2,046	4,913	4,433	3,517	3,395	485	-1,140	1,993	1,911	1,472	1,710	1,393
Minority Interest in Earnings	575	681	146	37	91	297	293	-185	238	252	6.00	153	125	118	129	115
Net Income	3,519	4,698	2,922	748	1,955	4,616	4,140	3,702	3,157	233	-1,146	1,840	1,786	1,354	1,581	1,278
Preferred Dividends	119	104	93	107	140	159	164	163	160	109	94	97	74	55	55	45
Net Income to Common	3,400	4,594	2,829	641	1,815	4,457	3,976	3,539	2,997	124	-1,240	1,743	1,712	1,299	1,526	1,233
EPS (Basic)(per share)	3.27	4.43	2.75	0.64	1.87	4.74	4.28	3.92	3.44	0.16	-1.75	–	–	1.84	2.17	1.79
EPS (Diluted)(per share)	3.27	4.43	2.75	0.64	1.86	4.74	4.27	3.92	3.43	0.16	-1.75	–	–	1.84	2.17	1.78
Shares Outstanding (Basic, Weighted)(shares)	1,040	1,038	1,030	995	973	940	929	902	872	759	709	708	707	705	702	691
Shares Outstanding (Diluted, Weighted)(shares)	1,040	1,038	1,030	996	974	940	931	903	874	760	709	710	708	706	703	692
Dividend per Share(per share)	3.40	3.70	3.72	3.60	3.48	3.24	3.00	2.76	2.50	2.26	2.08	1.92	1.84	1.76	1.66	1.58
EBITDA	10,805	10,752	7,875	5,034	6,581	9,363	9,049	8,114	6,739	4,252	1,866	5,542	4,958	4,204	4,495	–
Provision for Credit Losses	83	-22	-83	163	0	0	–	–	–	–	–	–	–	–	–	146

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Dec 31, 2025

Profitability, FY2025

Gross margin: 98.6%
Operating margin: 52.7%
Net margin: 23.1%
Return on equity, FY2025: 12.8%

Financial strength

Current ratio: 0.63
Debt to equity: –
Debt to assets: –
Cash to current liabilities: 1.7%

Valuation

P/E ratio: 27.1
Price to sales: 6.05
Price to book: 3.38
Dividend yield: 3.84%

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