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TRP · NYSE · United States · Natural Gas Transmission
In shortTC ENERGY CORP is profitable, generates cash and carries moderate debt, with revenue growing (+10.7% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 52.7% | 100/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 23.1% | 100/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 12.8% | 64/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 8.6% | 57/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.63× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 1.71× | 16/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 4.32× | 0/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 2.36× | 8/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 0.44 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 48.2% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 2.09× | 100/100 |
| Years with positive free cash flow (last 5) | 1 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 5 | 67/100 |
| Revenue growth volatility | 7.1% | 85/100 |
| Operating margin volatility | 15.7% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 7.4% | 58/100 |
|---|---|---|
| EPS growth, 3-year average | 72.2% | 100/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
CAD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 13,387 | 12,309 | 13,267 | 13,771 | 15,239 |
| Cost of revenue | 87 | 22 | 80 | 217 | 208 |
| Gross profit | 13,300 | 12,287 | 13,187 | 13,554 | 15,031 |
| Operating income | 4,059 | 2,450 | 5,097 | 7,964 | 8,036 |
| Interest expense | 2,360 | 2,588 | 3,263 | 3,019 | 3,407 |
| Pre-tax income | 2,166 | 474 | 3,298 | 5,906 | 5,444 |
| Income tax | 120 | 322 | 842 | 922 | 1,138 |
| Net income | 1,955 | 748 | 2,922 | 4,698 | 3,519 |
| Diluted EPS | C$1.86 | C$0.64 | C$2.75 | C$4.43 | C$3.27 |
| Diluted shares (millions) | 974 | 996 | 1,030 | 1,038 | 1,040 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
0.44 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
7/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Feb 13, 2026