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TC Energy (TRP) Financials

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$65.65 +0.90 (+1.39%)
As of 03:30 PM Eastern
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Annual Income Statements for TC Energy

Annual Income Statements for TC Energy

This table shows TC Energy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -897 92 2,382 2,593 3,064 3,494 1,421 474 2,143 3,190 2,480
Consolidated Net Income / (Loss)		 -824 361 2,698 2,577 3,416 3,851 1,601 580 2,324 3,735 2,986
Net Income / (Loss) Continuing Operations		 -824 361 2,698 2,577 3,416 3,851 1,601 112 1,860 3,461 3,140
Total Pre-Tax Income 		-800 623 2,627 2,894 3,997 4,003 1,695 350 2,498 4,101 3,970
Total Operating Income		 -155 1,959 2,607 3,576 4,459 4,550 2,450 3,325 4,459 4,018 4,931
Total Gross Profit		 6,591 7,721 8,795 8,935 9,934 10,190 10,409 9,080 9,989 9,413 10,962
Total Revenue		 8,209 9,337 10,688 10,024 10,215 10,190 10,477 9,096 10,049 9,563 11,114
Operating Revenue		 8,209 9,337 10,688 10,024 10,215 10,190 10,477 9,096 10,049 9,563 11,114
Total Cost of Revenue		 1,617 1,616 1,893 1,089 281 0.00 68 16 61 151 152
Operating Cost of Revenue		 1,617 1,616 1,893 1,089 281 0.00 68 16 61 151 152
Total Operating Expenses		 6,746 5,762 6,188 5,359 5,475 5,640 7,959 5,755 5,529 5,394 6,030
Selling, General & Admin Expense		 2,388 2,873 3,104 2,633 3,016 3,040 3,207 3,124 3,085 3,065 3,369
Depreciation Expense		 1,276 1,443 1,633 1,722 1,899 2,030 1,974 1,672 1,853 1,760 2,019
Other Operating Expenses / (Income)		 374 413 452 417 560 570 606 537 592 569 643
Total Other Income / (Expense), net		 -645 -1,336 21 -682 -462 -546 -755 -2,974 -1,961 83 -961
Interest Expense		 991 1,487 1,644 1,660 1,798 1,747 1,847 1,700 2,247 2,097 2,485
Interest & Investment Income		 436 694 614 523 709 799 703 738 992 1,082 929
Other Income / (Expense), net		 -90 -543 1,051 454 627 401 389 -2,013 -707 1,098 594
Income Tax Expense		 25 262 -71 317 581 152 94 238 638 640 830
Net Income / (Loss) Discontinued Operations		 - - - - - - - 468 464 274 -155
Preferred Stock Dividends Declared		 68 81 127 119 126 125 110 79 70 72 87
Net Income / (Loss) Attributable to Noncontrolling Interest		 4.34 188 189 -136 226 233 71 27 111 473 419
Basic Earnings per Share		 ($1.75) $0.16 $2.73 $3.92 $4.28 $4.74 $1.87 $0.47 $2.08 $3.08 $2.38
Weighted Average Basic Shares Outstanding		 709M 759M 872M 902M 929M 940M 973M 995M 1.03B 1.04B 1.04B
Diluted Earnings per Share		 ($1.75) $0.16 $2.73 $3.92 $4.27 $4.74 $1.86 $0.47 $2.08 $3.08 $2.38
Weighted Average Diluted Shares Outstanding		 709M 760M 874M 903M 931M 940M 974M 996M 1.03B 1.04B 1.04B
Weighted Average Basic & Diluted Shares Outstanding		 702.61M 863.76M 881.38M 1.81B 1.84B 1.84B 1.92B 1.99B 2.03B 2.03B 2.03B
Cash Dividends to Common per Share		 $2.08 $2.26 $1.99 $2.76 $3.00 $3.24 $3.48 $2.66 $2.82 $2.57 $2.48

Quarterly Income Statements for TC Energy

No quarterly income statements for TC Energy are available.

Annual Cash Flow Statements for TC Energy

This table details how cash moves in and out of TC Energy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 261 124 58 -471 691 147 -671 -39 2,316 -1,998 -462
Net Cash From Operating Activities		 3,170 3,772 4,156 4,803 5,458 5,533 5,393 4,711 5,505 5,344 5,357
Net Cash From Continuing Operating Activities		 3,170 3,772 4,156 4,803 5,458 5,533 5,393 4,711 5,508 5,330 5,357
Net Income / (Loss) Continuing Operations		 -824 361 2,698 2,577 3,416 3,851 1,601 580 2,324 3,735 2,986
Consolidated Net Income / (Loss)		 -824 361 2,698 2,577 3,416 3,851 1,601 580 2,324 3,735 2,986
Depreciation Expense		 1,276 1,443 1,633 1,722 1,899 2,030 1,974 1,910 2,104 1,936 2,019
Non-Cash Adjustments To Reconcile Net Income		 3,161 1,826 231 493 -126 -47 2,187 2,565 915 -822 160
Changes in Operating Assets and Liabilities, net		 -443 142 -406 11 268 -302 -369 -344 165 481 192
Net Cash From Investing Activities		 -3,528 -13,978 -2,940 -7,342 -5,296 -4,744 -6,036 -5,180 -9,307 -4,798 -4,710
Net Cash From Continuing Investing Activities		 -3,528 -13,978 -2,940 -7,342 -5,296 -4,744 -6,036 -5,180 -9,307 -4,798 -4,710
Acquisitions		 -527 -10,696 -1,336 -7,645 -6,225 -6,881 -5,583 -4,935 -6,298 -4,381 -3,843
Purchase of Investments		 - - - - - - - -2,537 -3,143 -3,252 -766
Sale of Property, Plant & Equipment		 0.00 4.46 3,721 450 1,848 2,671 27 0.00 25 549 0.00
Sale and/or Maturity of Investments		 6.51 541 288 89 143 0.00 57 1,945 17 2,560 3.65
Other Investing Activities, net		 -174 -101 254 -235 -1,063 -534 -537 347 91 -274 -104
Net Cash From Financing Activities		 538 10,424 -1,128 2,014 534 -627 -69 360 6,130 -2,690 -1,106
Net Cash From Continuing Financing Activities		 538 10,424 -1,128 2,014 534 -627 -69 360 6,130 -2,690 -1,106
Repayment of Debt		 -1,522 -5,323 -5,630 -2,601 -2,699 -3,118 -6,072 -989 -2,857 -6,609 -4,460
Repurchase of Preferred Equity		 - - - - 0.00 0.00 -391 -739 0.00 0.00 -182
Payment of Dividends		 -1,274 -1,351 -1,412 -1,432 -1,675 -2,639 -2,789 -2,501 -2,312 -3,338 -3,318
Issuance of Debt		 3,312 10,086 6,476 5,170 4,713 4,351 9,570 3,164 7,260 6,872 6,443
Issuance of Common Equity		 59 5,925 397 877 195 881 116 1,408 3.03 76 76
Other Financing Activities, net		 - - 0.00 0.00 0.00 -102 -7.83 17 4,036 310 337
Effect of Exchange Rate Changes		 81 -95 - 53 -4.62 -15 41 69 -12 146 -3.65

Quarterly Cash Flow Statements for TC Energy

No quarterly cash flow statements for TC Energy are available.

Annual Balance Sheets for TC Energy

This table presents TC Energy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 46,563 65,524 68,423 72,486 76,512 78,626 81,567 84,502 94,708 82,113 86,604
Total Current Assets		 2,833 6,016 3,719 3,763 5,896 4,077 5,810 5,418 8,614 3,981 4,606
Cash & Equivalents		 615 756 865 327 1,035 1,199 527 458 2,786 556 123
Accounts Receivable		 1,003 1,544 2,004 1,858 1,867 1,695 3,372 2,678 1,838 1,813 2,038
Inventories, net		 234 274 300 316 348 493 567 692 584 519 570
Other Current Assets		 982 3,442 549 865 483 690 1,344 1,590 1,075 930 1,732
Other Current Nonoperating Assets		 - - 0.00 398 2,163 - - - 2,331 163 144
Plant, Property, & Equipment, net		 32,405 40,538 45,517 48,732 50,471 54,697 54,928 56,119 52,606 53,820 51,819
Total Noncurrent Assets		 11,325 18,970 19,187 19,992 20,145 19,852 20,829 22,965 33,488 24,312 30,179
Long-Term Investments		 4,747 5,348 5,786 6,097 6,214 6,722 8,314 8,604 8,917 9,468 10,837
Noncurrent Note & Lease Receivables		 - - - - 1,105 1,049 186 1,400 1,714 1,720 5,915
Goodwill		 3,479 10,387 10,398 10,389 9,932 9,939 9,847 9,491 9,493 9,493 9,492
Other Noncurrent Operating Assets		 856 984 1,824 2,098 2,894 2,142 2,481 3,470 3,947 3,536 3,935
Other Noncurrent Nonoperating Assets		 - - - - - - - - 9,418 94 0.00
Total Liabilities & Shareholders' Equity		 46,563 65,524 68,423 72,486 76,512 78,626 81,567 84,502 94,708 82,113 86,604
Total Liabilities		 33,436 45,311 47,053 49,775 51,544 52,386 55,429 59,291 65,161 55,474 59,694
Total Current Liabilities		 5,323 5,715 7,849 9,487 9,941 9,397 10,207 12,494 8,951 7,299 7,263
Short-Term Debt		 2,722 1,944 3,679 4,561 5,399 4,819 5,076 6,030 2,225 2,321 2,002
Accounts Payable		 1,918 2,873 3,224 3,963 3,502 2,991 3,991 5,283 3,261 3,678 3,846
Dividends Payable		 278 391 466 489 568 623 688 687 742 607 657
Other Current Nonoperating Liabilities		 376 443 481 473 472 963 452 494 2,723 693 758
Total Noncurrent Liabilities		 28,113 39,596 39,204 40,289 41,603 42,990 45,223 46,796 56,210 48,175 52,431
Long-Term Debt		 23,555 32,316 31,477 32,255 33,057 34,030 36,221 37,053 45,647 38,906 41,818
Asset Retirement Reserve & Litigation Obligation		 838 1,578 3,434 2,880 2,907 3,252 3,365 3,340 3,562 3,683 4,260
Noncurrent Deferred & Payable Income Tax Liabilities		 3,719 5,702 4,294 4,416 4,395 4,551 4,807 5,652 5,281 4,781 5,599
Other Noncurrent Operating Liabilities		 0.00 - - 739 1,244 1,156 829 752 751 730 754
Other Noncurrent Nonoperating Liabilities		 - - - - - - - - 970 76 0.00
Total Equity & Noncontrolling Interests		 13,127 19,336 21,370 22,711 24,968 25,932 26,138 25,211 29,547 26,639 26,910
Total Preferred & Common Equity		 11,885 18,051 19,898 21,498 23,708 24,613 26,040 25,118 22,385 19,161 19,906
Preferred Stock		 1,807 2,962 3,163 2,916 3,067 3,120 2,729 1,847 1,893 1,735 1,645
Total Common Equity		 10,079 15,089 16,735 18,582 20,641 21,493 23,311 23,272 20,492 17,426 18,261
Common Stock		 8,755 14,957 16,821 16,994 18,794 19,198 21,480 21,961 22,725 20,903 22,038
Retained Earnings		 2,002 847 1,290 2,032 3,048 4,207 2,953 605 -2,270 -3,640 -4,321
Accumulated Other Comprehensive Income / (Loss)		 -679 -714 -1,376 -444 -1,201 -1,912 -1,122 706 37 162 545
Noncontrolling Interest		 1,241 1,284 1,472 1,213 1,259 1,319 98 93 7,162 7,478 7,004

Quarterly Balance Sheets for TC Energy

No quarterly balance sheets for TC Energy are available.

Annual Metrics And Ratios for TC Energy

This table displays calculated financial ratios and metrics derived from TC Energy's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -6.39% 13.75% 14.47% -6.21% 1.91% -0.25% 2.82% -13.18% 10.48% -4.84% 16.21%
EBITDA Growth		 -76.15% 177.22% 85.08% 8.74% 21.44% -0.06% -31.06% -33.08% 81.81% 20.41% 6.99%
EBIT Growth		 -108.35% 677.45% 158.38% 10.20% 26.21% -2.66% -42.65% -53.80% 186.08% 36.34% 8.01%
NOPAT Growth		 -105.41% 1,147.84% 135.85% 18.98% 19.66% 14.85% -47.12% -53.94% 211.47% 2.11% 15.03%
Net Income Growth		 -148.03% 143.79% 647.52% -4.48% 32.56% 12.73% -58.42% -63.77% 300.60% 60.74% -20.07%
EPS Growth		 0.00% 109.14% 1,603.63% 43.81% 8.93% 11.01% -60.76% -74.57% 340.38% 47.69% -22.48%
Operating Cash Flow Growth		 -12.88% 19.00% 10.18% 15.57% 13.63% 1.37% -2.54% -12.64% 16.86% -2.92% 0.24%
Free Cash Flow Firm Growth		 104.46% -494.30% 107.93% -68.24% 620.77% -72.21% 97.84% -71.01% 1,277.76% -46.85% -35.81%
Invested Capital Growth		 -9.16% 41.81% 3.29% 5.60% 2.58% 6.73% 1.67% 1.14% -3.33% 0.95% 3.53%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 80.30% 82.69% 82.29% 89.14% 97.25% 100.00% 99.35% 99.82% 99.40% 98.42% 98.64%
EBITDA Margin		 12.56% 30.61% 49.50% 57.39% 68.38% 68.51% 45.94% 35.41% 58.28% 73.74% 67.89%
Operating Margin		 -1.89% 20.98% 24.39% 35.68% 43.65% 44.65% 23.39% 36.55% 44.37% 42.02% 44.37%
EBIT Margin		 -2.99% 15.16% 34.22% 40.21% 49.79% 48.59% 27.10% 14.42% 37.34% 53.50% 49.72%
Profit (Net Income) Margin		 -10.04% 3.87% 25.24% 25.71% 33.44% 37.80% 15.28% 6.38% 23.13% 39.06% 26.87%
Tax Burden Percent		 103.07% 57.95% 102.69% 89.06% 85.46% 96.20% 94.46% 165.61% 93.03% 91.08% 75.20%
Interest Burden Percent		 326.25% 44.01% 71.84% 71.80% 78.59% 80.86% 59.70% 26.70% 66.57% 80.17% 71.85%
Effective Tax Rate		 0.00% 42.06% -2.69% 10.94% 14.54% 3.80% 5.54% 67.93% 25.53% 15.61% 20.90%
Return on Invested Capital (ROIC)		 -0.30% 2.71% 5.35% 6.10% 7.01% 7.69% 3.91% 1.77% 5.59% 5.78% 6.50%
ROIC Less NNEP Spread (ROIC-NNEP)		 -3.71% -0.30% 5.42% 4.08% 5.72% 6.01% 1.75% 0.36% 2.48% 6.91% 3.75%
Return on Net Nonoperating Assets (RNNOA)		 -5.04% -0.48% 7.90% 5.60% 7.32% 7.35% 2.21% 0.48% 2.90% 7.52% 4.65%
Return on Equity (ROE)		 -5.33% 2.22% 13.26% 11.69% 14.33% 15.04% 6.11% 2.26% 8.49% 13.30% 11.15%
Cash Return on Invested Capital (CROIC)		 9.30% -31.87% 2.12% 0.64% 4.47% 1.19% 2.25% 0.64% 8.97% 4.83% 3.03%
Operating Return on Assets (OROA)		 -0.51% 2.53% 5.46% 5.72% 6.83% 6.38% 3.55% 1.58% 4.19% 5.79% 6.55%
Return on Assets (ROA)		 -1.70% 0.64% 4.03% 3.66% 4.59% 4.97% 2.00% 0.70% 2.59% 4.23% 3.54%
Return on Common Equity (ROCE)		 -4.24% 1.72% 10.36% 9.37% 11.79% 12.38% 5.23% 2.05% 6.78% 8.97% 7.43%
Return on Equity Simple (ROE_SIMPLE)		 -6.94% 2.00% 13.56% 11.99% 14.41% 15.65% 6.15% 2.31% 10.38% 19.49% 0.00%
Net Operating Profit after Tax (NOPAT)		 -108 1,135 2,677 3,185 3,811 4,377 2,315 1,066 3,321 3,391 3,901
NOPAT Margin		 -1.32% 12.16% 25.05% 31.77% 37.31% 42.95% 22.09% 11.72% 33.04% 35.46% 35.10%
Net Nonoperating Expense Percent (NNEP)		 3.41% 3.01% -0.07% 2.01% 1.29% 1.68% 2.16% 1.41% 3.11% -1.13% 2.75%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 1.56% 4.29% 5.00% 5.51%
Cost of Revenue to Revenue		 19.70% 17.31% 17.71% 10.86% 2.75% 0.00% 0.65% 0.18% 0.60% 1.58% 1.36%
SG&A Expenses to Revenue		 29.09% 30.77% 29.04% 26.27% 29.52% 29.83% 30.61% 34.35% 30.70% 32.05% 30.31%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 82.18% 61.71% 57.90% 53.46% 53.59% 55.35% 75.96% 63.27% 55.02% 56.41% 54.26%
Earnings before Interest and Taxes (EBIT)		 -245 1,415 3,657 4,030 5,086 4,951 2,839 1,312 3,752 5,116 5,526
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,031 2,858 5,290 5,752 6,985 6,981 4,813 3,221 5,857 7,052 7,545
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.44 1.37 1.71 1.20 3.46 2.74 3.06 2.57 3.18 5.42 6.12
Price to Tangible Book Value (P/TBV)		 3.33 8.46 5.54 3.29 6.67 5.10 5.30 4.33 5.93 11.91 12.75
Price to Revenue (P/Rev)		 1.77 2.22 2.67 2.23 7.00 5.79 6.81 6.56 6.49 9.88 10.06
Price to Earnings (P/E)		 0.00 224.56 12.00 8.61 23.33 16.87 50.26 126.05 30.43 29.61 45.08
Dividend Yield		 7.78% 5.84% 5.89% 6.42% 5.75% 7.52% 7.13% 8.81% 8.49% 17.36% 4.44%
Earnings Yield		 0.00% 0.45% 8.33% 11.62% 4.29% 5.93% 1.99% 0.79% 3.29% 3.38% 2.22%
Enterprise Value to Invested Capital (EV/IC)		 1.11 1.08 1.21 1.06 1.94 1.61 1.79 1.58 1.89 2.29 2.51
Enterprise Value to Revenue (EV/Rev)		 4.69 5.69 5.78 5.67 10.48 9.29 10.18 10.52 10.99 14.10 13.79
Enterprise Value to EBITDA (EV/EBITDA)		 37.30 18.59 11.67 9.88 15.32 13.55 22.16 29.70 18.86 19.13 20.31
Enterprise Value to EBIT (EV/EBIT)		 0.00 37.53 16.88 14.10 21.04 19.11 37.57 72.93 29.43 26.36 27.74
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 46.81 23.06 17.85 28.08 21.62 46.08 89.73 33.26 39.78 39.30
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.13 14.08 14.85 11.83 19.61 17.10 19.78 20.31 20.06 25.24 28.61
Enterprise Value to Free Cash Flow (EV/FCFF)		 11.34 0.00 58.22 168.79 44.09 140.26 79.92 247.23 20.72 47.60 84.27
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.00 1.77 1.65 1.62 1.54 1.48 1.58 1.71 1.62 1.55 1.63
Long-Term Debt to Equity		 1.79 1.67 1.47 1.42 1.32 1.30 1.39 1.47 1.54 1.46 1.55
Financial Leverage		 1.36 1.58 1.46 1.37 1.28 1.22 1.26 1.34 1.17 1.09 1.24
Leverage Ratio		 3.14 3.45 3.29 3.20 3.13 3.03 3.06 3.23 3.27 3.15 3.15
Compound Leverage Factor		 10.23 1.52 2.36 2.30 2.46 2.45 1.83 0.86 2.18 2.52 2.26
Debt to Total Capital		 66.69% 63.92% 62.19% 61.85% 60.63% 59.69% 61.24% 63.08% 61.84% 60.75% 61.95%
Short-Term Debt to Total Capital		 6.91% 3.63% 6.51% 7.66% 8.51% 7.40% 7.53% 8.83% 2.87% 3.42% 2.83%
Long-Term Debt to Total Capital		 59.78% 60.30% 55.69% 54.19% 52.12% 52.28% 53.71% 54.25% 58.96% 57.33% 59.12%
Preferred Equity to Total Capital		 4.59% 5.53% 5.60% 4.90% 4.84% 4.79% 4.05% 2.70% 2.45% 2.56% 2.33%
Noncontrolling Interests to Total Capital		 3.15% 2.40% 2.60% 2.04% 1.99% 2.50% 0.15% 0.14% 9.25% 11.02% 9.90%
Common Equity to Total Capital		 25.58% 28.15% 29.61% 31.22% 32.54% 33.02% 34.57% 34.08% 26.47% 25.68% 25.82%
Debt to EBITDA		 25.49 11.99 6.65 6.40 5.51 5.56 8.58 13.37 8.17 5.85 5.81
Net Debt to EBITDA		 20.29 9.85 5.39 5.28 4.47 4.43 6.74 10.56 6.18 4.42 4.36
Long-Term Debt to EBITDA		 22.85 11.31 5.95 5.61 4.73 4.87 7.53 11.50 7.79 5.52 5.54
Debt to NOPAT		 -242.61 30.19 13.13 11.56 10.09 8.88 17.84 40.41 14.42 12.16 11.23
Net Debt to NOPAT		 -193.11 24.81 10.65 9.54 8.19 7.07 14.02 31.91 10.89 9.20 8.42
Long-Term Debt to NOPAT		 -217.48 28.47 11.76 10.13 8.67 7.77 15.65 34.75 13.75 11.47 10.72
Altman Z-Score		 0.42 0.51 0.65 0.54 1.18 1.01 1.00 0.67 0.80 1.23 1.36
Noncontrolling Interest Sharing Ratio		 20.55% 22.47% 21.82% 19.88% 17.74% 17.72% 14.46% 9.28% 20.08% 32.51% 33.36%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.53 1.05 0.47 0.40 0.59 0.43 0.57 0.43 0.96 0.55 0.63
Quick Ratio		 0.30 0.40 0.37 0.23 0.29 0.31 0.38 0.25 0.52 0.32 0.30
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 3,391 -13,371 1,060 337 2,427 675 1,335 387 5,331 2,834 1,819
Operating Cash Flow to CapEx		 111.89% 101.36% 193.70% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 3.42 -8.99 0.64 0.20 1.35 0.39 0.72 0.23 2.37 1.35 0.73
Operating Cash Flow to Interest Expense		 3.20 2.54 2.53 2.89 3.04 3.17 2.92 2.77 2.45 2.55 2.16
Operating Cash Flow Less CapEx to Interest Expense		 0.34 0.03 1.22 3.17 4.06 4.70 2.93 2.77 2.46 2.81 2.16
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.17 0.17 0.16 0.14 0.14 0.13 0.13 0.11 0.11 0.11 0.13
Accounts Receivable Turnover		 7.70 7.33 6.02 5.19 5.49 5.72 4.14 3.01 4.45 5.24 5.77
Inventory Turnover		 6.67 6.37 6.59 3.53 0.85 0.00 0.13 0.03 0.10 0.27 0.28
Fixed Asset Turnover		 0.24 0.26 0.25 0.21 0.21 0.19 0.19 0.16 0.18 0.18 0.21
Accounts Payable Turnover		 0.73 0.67 0.62 0.30 0.08 0.00 0.02 0.00 0.01 0.04 0.04
Days Sales Outstanding (DSO)		 47.43 49.78 60.59 70.31 66.53 63.78 88.26 121.39 82.02 69.68 63.24
Days Inventory Outstanding (DIO)		 54.72 57.29 55.36 103.28 430.90 0.00 2,840.30 14,125.35 3,842.02 1,335.50 1,310.24
Days Payable Outstanding (DPO)		 497.39 541.01 587.84 1,204.52 4,843.04 0.00 18,713.81 104,102.17 25,731.72 8,403.96 9,052.98
Cash Conversion Cycle (CCC)		 -395.24 -433.93 -471.89 -1,030.93 -4,345.60 63.78 -15,785.24 -89,855.43 -21,807.68 -6,998.77 -7,679.51
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 34,697 49,203 50,820 53,668 55,052 58,754 59,734 60,413 58,403 58,960 61,041
Invested Capital Turnover		 0.23 0.22 0.21 0.19 0.19 0.18 0.18 0.15 0.17 0.16 0.19
Increase / (Decrease) in Invested Capital		 -3,499 14,506 1,617 2,848 1,384 3,702 980 679 -2,011 557 2,082
Enterprise Value (EV)		 38,459 53,124 61,722 56,842 107,009 94,629 106,672 95,668 110,438 134,881 153,279
Market Capitalization		 14,494 20,721 28,583 22,320 71,476 58,954 71,388 59,707 65,214 94,466 111,770
Book Value per Share		 $14.22 $21.48 $19.37 $21.08 $11.43 $11.68 $12.65 $12.12 $10.29 $8.58 $8.99
Tangible Book Value per Share		 $6.15 $3.49 $5.97 $7.70 $5.93 $6.28 $7.31 $7.17 $5.52 $3.91 $4.32
Total Capital		 39,405 53,595 56,525 59,526 63,423 65,089 67,435 68,294 77,419 67,865 70,730
Total Debt		 26,278 34,260 35,155 36,815 38,456 38,850 41,298 43,083 47,872 41,226 43,820
Total Long-Term Debt		 23,555 32,316 31,477 32,255 33,057 34,030 36,221 37,053 45,647 38,906 41,818
Net Debt		 20,916 28,156 28,504 30,392 31,207 30,928 32,457 34,021 36,170 31,202 32,860
Capital Expenditures (CapEx)		 2,833 3,722 2,146 -450 -1,848 -2,671 -27 0.00 -25 -549 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -382 1,488 -1,317 -1,490 319 -1,700 153 -1,504 -898 -1,553 -777
Debt-free Net Working Capital (DFNWC)		 232 2,244 -451 -1,163 1,354 -500 679 -1,046 1,888 -997 -655
Net Working Capital (NWC)		 -2,490 301 -4,130 -5,724 -4,044 -5,320 -4,397 -7,076 -337 -3,318 -2,657
Net Nonoperating Expense (NNE)		 716 774 -21 608 395 526 713 486 997 -345 915
Net Nonoperating Obligations (NNO)		 21,571 29,868 29,450 30,957 30,084 32,514 33,596 35,202 28,855 32,321 34,131
Total Depreciation and Amortization (D&A)		 1,276 1,443 1,633 1,722 1,899 2,030 1,974 1,910 2,104 1,936 2,019
Debt-free, Cash-free Net Working Capital to Revenue		 -4.66% 15.94% -12.32% -14.86% 3.12% -16.68% 1.46% -16.53% -8.93% -16.24% -7.00%
Debt-free Net Working Capital to Revenue		 2.83% 24.04% -4.22% -11.60% 13.26% -4.91% 6.48% -11.50% 18.79% -10.43% -5.89%
Net Working Capital to Revenue		 -30.34% 3.22% -38.64% -57.10% -39.59% -52.20% -41.97% -77.79% -3.35% -34.70% -23.91%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $3.44 $3.92 $3.30 $4.74 $1.87 $0.64 $2.75 $3.08 $2.38
Adjusted Weighted Average Basic Shares Outstanding		 709M 759M 872M 902M 929M 940M 973M 995M 1.03B 1.04B 1.04B
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $3.43 $3.92 $3.29 $4.74 $1.86 $0.64 $2.75 $3.08 $2.38
Adjusted Weighted Average Diluted Shares Outstanding		 709M 760M 874M 903M 931M 940M 974M 996M 1.03B 1.04B 1.04B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 702.61M 863.76M 881.38M 1.81B 1.84B 1.84B 1.92B 1.99B 2.03B 2.03B 2.03B
Normalized Net Operating Profit after Tax (NOPAT)		 1,787 1,733 2,524 3,708 3,811 4,377 4,366 2,623 3,321 3,391 3,901
Normalized NOPAT Margin		 21.77% 18.57% 23.61% 36.99% 37.31% 42.95% 41.67% 28.83% 33.04% 35.46% 35.10%
Pre Tax Income Margin		 -9.74% 6.67% 24.58% 28.87% 39.13% 39.29% 16.18% 3.85% 24.86% 42.89% 35.72%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -0.25 0.95 2.22 2.43 2.83 2.83 1.54 0.77 1.67 2.44 2.22
NOPAT to Interest Expense		 -0.11 0.76 1.63 1.92 2.12 2.51 1.25 0.63 1.48 1.62 1.57
EBIT Less CapEx to Interest Expense		 -3.11 -1.55 0.92 2.70 3.86 4.36 1.55 0.77 1.68 2.70 2.22
NOPAT Less CapEx to Interest Expense		 -2.97 -1.74 0.32 2.19 3.15 4.04 1.27 0.63 1.49 1.88 1.57
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -154.56% 374.23% 52.34% 55.56% 49.04% 68.53% 174.14% 431.21% 99.48% 89.37% 111.14%
Augmented Payout Ratio		 -180.35% 377.11% 87.84% 55.56% 49.04% 68.53% 205.08% 431.21% 99.48% 89.37% 111.14%

Quarterly Metrics And Ratios for TC Energy

No quarterly metrics and ratios for TC Energy are available.


Financials Breakdown Chart

TC Energy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, TC Energy's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

TC Energy's net income appears to be on an upward trend, with a most recent value of $2.99 billion in 2025, falling from -$824.27 million in 2015. The previous period was $3.74 billion in 2024. View TC Energy's forecast to see where analysts expect TC Energy to go next.

TC Energy's total operating income in 2025 was $4.93 billion, based on the following breakdown:
  • Total Gross Profit: $10.96 billion
  • Total Operating Expenses: $6.03 billion

Over the last 10 years, TC Energy's total revenue changed from $8.21 billion in 2015 to $11.11 billion in 2025, a change of 35.4%.

TC Energy's total liabilities were at $59.69 billion at the end of 2025, a 7.6% increase from 2024, and a 78.5% increase since 2015.

In the past 10 years, TC Energy's cash and equivalents has ranged from $122.52 million in 2025 to $2.79 billion in 2023, and is currently $122.52 million as of their latest financial filing in 2025.

Over the last 10 years, TC Energy's book value per share changed from 14.22 in 2015 to 8.99 in 2025, a change of -36.8%.


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Financial statements for NYSE:TRP last updated on 2/17/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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