TC Energy Corporation (TSX:TRP)

TC Energy Income Statement

Financials in millions CAD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	14,648	13,771	13,267	12,309	13,387	12,999
Revenue Growth (YoY)	24.53%	3.80%	7.78%	-8.05%	2.99%	-1.93%
Cost of Revenue	4,659	4,495	3,987	4,250	4,104	3,878
Gross Profit	9,989	9,276	9,280	8,059	9,283	9,121
Selling, General & Admin	111	111	101	-	-	-
Other Operating Expenses	864	820	781	727	81	727
Operating Expenses	3,664	3,466	3,328	2,989	2,603	3,317
Operating Income	6,325	5,810	5,952	5,070	6,680	5,804
Interest Expense	-3,213	-3,019	-2,966	-2,300	-2,360	-2,228
Interest & Investment Income	255	313	259	147	192	184
Earnings From Equity Investments	1,430	1,558	1,310	999	898	1,019
Currency Exchange Gain (Loss)	73	-147	320	-185	10	28
Other Non Operating Income (Expenses)	650	784	575	369	267	349
EBT Excluding Unusual Items	5,520	5,299	5,450	4,100	5,687	5,156
Merger & Restructuring Charges	-9	-24	-65	-	-81	-
Impairment of Goodwill	-	-	-	-571	-	-
Gain (Loss) on Sale of Investments	12	11	-2,087	-3,055	-2	1
Gain (Loss) on Sale of Assets	-	620	-	-	30	-50
Asset Writedown	-	-	-	-	-3,126	-
Other Unusual Items	-	-	-	-	-342	-
Pretax Income	5,523	5,906	3,298	474	2,166	5,107
Income Tax Expense	1,098	922	842	322	120	194
Earnings From Continuing Operations	4,425	4,984	2,456	152	2,046	4,913
Earnings From Discontinued Operations	-331	395	612	633	-	-
Net Income to Company	4,094	5,379	3,068	785	2,046	4,913
Minority Interest in Earnings	-591	-681	-146	-37	-91	-297
Net Income	3,503	4,698	2,922	748	1,955	4,616
Preferred Dividends & Other Adjustments	112	104	93	107	140	159
Net Income to Common	3,391	4,594	2,829	641	1,815	4,457
Net Income Growth	-32.45%	60.78%	290.64%	-61.74%	-57.65%	11.50%
Shares Outstanding (Basic)	1,040	1,038	1,030	995	973	940
Shares Outstanding (Diluted)	1,040	1,038	1,030	996	974	940
Shares Change (YoY)	0.19%	0.78%	3.41%	2.26%	3.62%	0.97%
EPS (Basic)	3.26	4.43	2.75	0.64	1.87	4.74
EPS (Diluted)	3.26	4.43	2.74	0.64	1.86	4.74
EPS Growth	-33.47%	61.28%	325.97%	-65.36%	-60.76%	11.01%
Free Cash Flow	1,951	1,338	-881	-352	966	-1,077
Free Cash Flow Per Share	1.88	1.29	-0.85	-0.35	0.99	-1.15
Dividend Per Share	3.373	3.703	3.720	3.600	3.480	3.240
Dividend Growth	-11.48%	-0.47%	3.33%	3.45%	7.41%	8.00%
Gross Margin	68.19%	67.36%	69.95%	65.47%	69.34%	70.17%
Operating Margin	43.18%	42.19%	44.86%	41.19%	49.90%	44.65%
Profit Margin	23.15%	33.36%	21.32%	5.21%	13.56%	34.29%
Free Cash Flow Margin	13.32%	9.72%	-6.64%	-2.86%	7.22%	-8.29%
EBITDA	9,267	8,598	8,730	7,654	9,202	8,394
EBITDA Margin	63.27%	62.44%	65.80%	62.18%	68.74%	64.57%
D&A For EBITDA	2,942	2,788	2,778	2,584	2,522	2,590
EBIT	6,325	5,810	5,952	5,070	6,680	5,804
EBIT Margin	43.18%	42.19%	44.86%	41.19%	49.90%	44.65%
Effective Tax Rate	19.88%	15.61%	25.53%	67.93%	5.54%	3.80%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.