NYSE · NATURAL GAS TRANSMISSION · MID CAP
TC Energy Corporation TRP
16 fiscal years on record · CAD · FY2025 reported
SEC FILINGS ONLY
Revenue · FY2025
CAD 15.2B
▲ 10.7% vs FY2024
EPS · FY25
CAD 3.27
Dividend / sh · FY25
CAD 3.40
Payout · FY25
100%
ROE · FY25
12.8%
Net margin · FY25
23.1%
Dividend coverage
1.0×
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Result
CAD 15.2B
Revenue, FY2025 · full 16-year series below
Revenue
Net income
23 cents of every revenue dollar became profit this year.
Per share
CAD 3.27
Diluted EPS, FY2025
EPS
Dividend
Earnings covered only a fraction of the dividend — the rest came from cash or borrowing.
Profitability
12.8%
Return on equity, FY2025
ROE
Operating margin52.7%
Net margin23.1%
Return on assets3.0%
Each CAD of equity produced 13 cents of profit this year.
Returned to shareholders
CAD 3.5B
returned in FY2025 · dividends + net buybacks
Dividends paidCAD 3.5B
Net buybacks—
Share of profit99.7%
Consecutive raises—
CAD 3.5B in dividends — 100% of the year's profit went back to shareholders.
Growth
+3.8% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+7.9%
+3.8%
+3.0%
+5.5%
Net income
+67.6%
−5.3%
+7.0%
EPS, diluted
+72.2%
−7.2%
+4.1%
Dividend / share
−1.9%
+1.0%
+5.0%
+5.2%
Returned to shareholders
+3.2%
+3.3%
+7.4%
+11.2%
Compound annual rates per period — left blank where the series crosses a loss.
Share base
1.04B
Shares outstanding, FY2025
Change, 5 years+10.7%
Change, 10 years+48.1%
The share count grew 11% in five years — the same company, cut into more, smaller slices.
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Balance sheet
CAD 118.8B
total assets, end of FY2025
Total assetsCAD 118.8B
EquityCAD 27.3B
CashCAD 168.0M
Gross debtCAD 1.5B
Net debtCAD 1.4B
Current ratio0.63×
Net debt stands at 5% of equity.
History
16 fiscal years
Every figure from documents filed with the SEC · CAD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
Revenue CAD B
15.2
13.8
13.3
12.1
13.0
12.6
12.7
12.8
13.4
12.5
11.4
10.2
8.8
8.0
7.8
6.9
Operating income CAD B
8.0
8.0
5.1
2.5
4.1
6.8
6.6
5.8
4.7
2.3
0.1
3.9
3.5
2.8
3.2
2.4
EBITDA CAD B
10.8
10.8
7.9
5.0
6.6
9.4
9.0
8.1
6.7
4.3
1.9
5.5
5.0
4.2
4.5
·
Income tax CAD B
1.1
0.9
0.8
0.3
0.1
0.2
0.8
0.4
−0.1
0.4
0.0
0.8
0.6
0.5
0.6
0.4
Net income CAD B
3.5
4.7
2.9
0.7
2.0
4.6
4.1
3.7
3.2
0.2
−1.1
1.8
1.8
1.4
1.6
1.3
EPS, diluted CAD
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
Dividend / sh CAD
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
1.68
1.60
Payout %
100
84
95
427
170
65
43
42
42
616
−126
73
72
91
61
56
ROE %
12.8
16.4
9.2
2.2
6.0
14.9
13.8
13.6
12.8
1.1
−6.5
9.8
10.1
8.0
9.4
·
Shares out B
1.04
1.04
1.04
1.02
0.98
0.94
0.94
0.92
0.88
0.86
0.70
0.71
0.71
0.70
0.70
·
Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.
How we verifyAUDITED
44 of 44
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity
Every figure was compared against the original statement: 0 failures and 0 presentation gaps.
What we don’t show
We’d rather say what’s missing than fill the gap with an estimate.
P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed