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TC ENERGY CORP TRP

NYSE · stock · Natural Gas Transmission · website · IPO 1985-05-30 · LEI

TC ENERGY CORP statistics & valuation

Profitability & efficiency

Net margin (%)
1.90% 23.50% 27.10% 31.20% 35.50% 14.60% 6.10% 22.00% 34.10% 23.10% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
18.40% 34.80% 42.10% 49.70% 52.10% 30.30% 19.90% 38.40% 57.80% 52.70% 2016201720182019202020212022202320242025
Return on equity (%)
0.90% 11.70% 11.90% 12.80% 14.00% 5.90% 2.20% 7.50% 12.20% 9.50% 2016201720182019202020212022202320242025
Shares outstanding
864.0M 881.4M 918.1M 938.4M 940.1M 981.0M 1.02B 1.04B 1.04B 1.04B 2016201720182019202020212022202320242025
Net debt ($)
$37.30B $30.79B $36.06B -$1.14B -$673.0M $980.0M -$1.68B $2.00B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
0.30% 3.70% 3.70% 4.20% 4.60% 1.90% 0.70% 2.30% 4.00% 3.00% 2016201720182019202020212022202320242025
Free cash flow margin (%)
0.50% -16.00% -20.90% -3.00% 2016201720182019202020212022202320242025
Debt / equity (×)
1.47× 1.19× 1.18× 0.01× 0.00× 0.05× 0.05× 0.07× 2016201720182019202020212022202320242025
EPS ($)
$0.16 $3.43 $3.92 $4.27 $4.74 $1.86 $0.64 $2.75 $4.43 $3.27 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

TC ENERGY CORP trades at about 19.5× earnings — above its 10-year norm (10-year range 9.1×–295.1×, median 14.3×).

9.1× 295.1×

Shaded band = 10-year range (9.1×–295.1×); dot = today's 19.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin52.7%57.8%38.4%19.9%30.3%52.1%49.7%42.1%34.8%18.4%
Net margin23.1%34.1%22.0%6.1%14.6%35.5%31.2%27.1%23.5%1.9%
FCF margin——————-3.0%-20.9%-16.0%0.5%
Return on assets3.0%4.0%2.3%0.7%1.9%4.6%4.2%3.7%3.7%0.3%
Return on equity9.5%12.2%7.5%2.2%5.9%14.0%12.8%11.9%11.7%0.9%
Debt / equity—0.07×0.05×0.05×0.00×—0.01×1.18×1.19×1.47×
Current ratio0.630.550.960.430.570.430.590.400.471.05

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.