TC Energy Corp (TRP)
TC Energy Corporation operates as an energy infrastructure company in Canada, the United States, and Mexico. It operates through four segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; and Power and Energy Solutions. The company builds and operates a network of 94,171 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses. It also has regulated natural gas storage facilities with a total working gas capacity of 532 billion cubic feet. In addition, the company owns or has interests in power generation facilities with approximately 4,650 megawatts; and owns and operates approximately 118 billion cubic feet of non-regulated natural gas storage facilities in Alberta, Ontario, Québec, and New Brunswick. The company was formerly known as TransCanada Corporation and changed its name to TC Energy Corporation in May 2019. TC Energy Corporation was founded in 1951 and is headquartered in Calgary, Canada.
- Ticker
- TRP
- Exchange
- NYSE
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- 52-week range
- $49.64 - $71.47
Valuation
- Share price
- $61.92 (close of Nov 6, 2026)
- P/E (TTM)
- 26.75x
- Price to book
- 2.47x
- Price to free cash flow
- 12.40x
Price performance
| Period | Change |
|---|---|
| 1 day | -1.05% |
| 5 days | -4.00% |
| 1 month | +2.81% |
| 3 months | -3.10% |
| 6 months | -5.45% |
| Year to date | +12.56% |
| 1 year | +22.74% |
| 3 years | +70.58% |
| 5 years | +20.35% |
| 10 years | +43.27% |
| All time | +602.64% |
Short interest
- As of
- Oct 15, 2026
- Short % of float
- 4.57%
- Shares short
- 45.60M
- Days to cover
- 17.47
- Change since prior report
- -19.67%
- Source
- FINRA consolidated short interest
Profitability and growth
- Return on equity
- 9.54%
- Return on invested capital
- 7.07%
- Return on assets
- 2.96%
- Return on capital employed
- 7.39%
- Gross margin
- 98.64%
- Net margin
- 23.09%
- EBITDA margin
- 70.90%
- Revenue growth
- 16.67%
- Net income growth
- -25.10%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 8.07%
- Current ratio
- 0.63x
- Net debt to EBITDA
- 5.47x
Latest reported year
- Period end
- Dec 31, 2025
- Fiscal year
- 2025
- Shares outstanding
- 1.04B
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|---|---|---|---|
| 2025-12-31 | 98.64% | 23.09% | 9.54% | 7.07% |
| 2024-12-31 | 98.34% | 35.97% | 12.25% | 7.17% |
| 2023-12-31 | 99.36% | 23.36% | 7.49% | 4.14% |
| 2022-12-31 | 99.82% | 6.17% | 2.19% | 2.29% |
| 2021-12-31 | 99.33% | 15.09% | 5.85% | 11.21% |
| 2020-12-31 | - | 36.50% | 13.95% | 18.51% |
| 2019-12-31 | 97.12% | 32.68% | 12.78% | 16.36% |
| 2018-12-31 | 88.39% | 28.94% | 11.94% | 7.51% |
| 2017-12-31 | 82.29% | 23.47% | 11.74% | 7.60% |
| 2016-12-31 | 82.69% | 1.86% | 0.90% | 2.97% |
Investor relations
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-11-05 | Sep 2026 | - |
| 2026-07-30 | Jun 2026 | - |
| 2026-05-01 | Mar 2026 | - |
| 2026-02-13 | Dec 2025 | - |
| 2025-11-06 | Sep 2025 | - |
| 2025-07-31 | Jun 2025 | - |
| 2025-05-01 | Mar 2025 | - |
| 2025-02-14 | Dec 2024 | - |
Filings and sources
- Company website
- tcenergy.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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