MARKETS / NYSE / TCPA

NYSE · NATURAL GAS TRANSMISSION · LARGE CAP

Transcanada Pipelines Ltd. TCPA

8 fiscal years on record · CAD · FY2017 reported · SEC filings only

Revenue

CAD 13.4B

▲ 7.2% YoY

Net income

CAD 3.1B

▲ 867.6% YoY

Free cash flow

CAD -2.2B

▼ 1590.6% YoY

In brief

What this company does

The company operates in two core businesses: Natural Gas Pipelines and Power and Energy Solutions. Its results are reflected in four operating segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines and Power and Energy Solutions. It also has a Corporate segment consisting of corporate and administrative functions that provide governance, financing and other support to TC Energy's business segments. In October 2023, the company completed construction of the 81 MW Saddlebrook Solar Project near Aldersyde, Alberta and began commissioning activities, including supplying generation to the Alberta market. At Year End, TC Energy's principal operating subsidiary, TCPL, had 6,574 employees, substantially all of whom were employed in Canada and the U.S. TCPL continues to carry on business as the principal operating subsidiary of TC Energy.

Written from the business description in TRANSCANADA PIPELINES LTD's annual report to the U.S. Securities and Exchange Commission, filed 13 February 2026. Every sentence was checked against that document before publication.

Growth

CAD 13.4B

Revenue, FY2017 · full 8-year series below

Revenue CAD B Net income CAD B

FY2017 · Revenue 13.4 · Net income 3.1

Compound annual growth

Revenue

+9.7%

+10.9%

Net income

+19.0%

+18.0%

Returned to shareholders

+16.4%

+11.6%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +10.9% a year over five years — but profit grew faster: net income at +18.0%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

25 cents

of every revenue dollar became profit

Operating margin Net margin

FY2017 · Operating 34.8% · Net 24.9%

ROE

FY2017 · ROE 14.0%

Gross margin—

Operating margin34.8%

Net margin24.9%

Return on assets3.8%

EBITDACAD 6.7B

Each CAD of equity produced 14 cents of profit this year.

Cash & shareholders

CAD 2.1B

returned in FY2017 · dividends + net buybacks

Free cash flow CAD B

FY2017 · FCF -2.2

Net buybacks CAD B Dividends CAD B

FY2017 · Dividends 2.1 · Net buybacks —

Dividends paidCAD 2.1B

Net buybacks—

Share of profit68.3%

Consecutive raises—

CAD 2.1B in dividends — 68% of the year's profit went back to shareholders.

Total assetsCAD 86.0B

EquityCAD 22.4B

CashCAD 1.0B

Gross debtCAD 34.7B

Net debtCAD 33.7B

Current ratio0.37×

Net debt stands at 150% of equity.

The 8-year record

8 fiscal years

Every figure from documents filed with the SEC · CAD

row low → row highnegative

Metric	2017	2016	2015	2014	2013	2012	2011	2010
Revenue CAD B	13.4	12.5	11.4	10.2	8.8	8.0	7.8	6.9
Operating income CAD B	4.7	2.3	0.1	3.9	3.5	2.8	3.2	2.4
EBITDA CAD B	6.7	4.3	1.9	5.5	5.0	4.2	4.5	·
Income tax CAD B	−0.1	0.3	0.0	0.8	0.6	0.5	0.5	0.4
Net income CAD B	3.1	0.3	−1.1	1.8	1.8	1.4	1.5	1.3
Free cash flow CAD B	−2.2	0.1	0.5	0.7	−0.6	1.0	1.1	−1.6
EPS, diluted CAD	·	·	·	·	·	·	·	·
Dividend / sh CAD	·	·	·	·	·	·	·	·
Payout %	68	502	−126	73	72	90	76	87
ROE %	14.0	1.6	−5.8	9.0	9.3	7.5	8.5	·
Shares out B	0.87	0.86	0.78	0.78	0.76	0.74	0.73	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Transcanada Pipelines Ltd.vsTC Energy Corp.Same industry: Natural Gas Transmission

Provenance

Company facts, as filed

How we verify · 1 failures in 22 reconciliationsAUDITED

Reconciled in 7 of 19 fiscal years. 54 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente1 failures

ActivityNatural Gas Transmission

Listed onNYSE

Incorporated innot stated in the filings

Fiscal year endsDecember 31

Data on record since2010