TC Energy Income Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	15,239	13,771	13,267	12,309	13,387
Revenue Growth (YoY)	10.66%	3.80%	7.78%	-8.05%	2.99%
Cost of Revenue	7,596	7,165	6,599	6,512	6,707
Gross Profit	7,643	6,606	6,668	5,797	6,680
Selling, General & Admin	881	820	781	727	774
Other Operating Expenses	-	-	-	571	2,775
Total Operating Expenses	881	820	781	1,298	3,549
Operating Income	6,762	5,786	5,887	4,499	3,131
Interest Income	1,479	1,882	1,582	999	898
Interest Expense	-2,954	-2,235	-2,391	-1,791	-1,903
Other Non-Operating Income (Expense)	157	473	-1,780	-3,233	40
Total Non-Operating Income (Expense)	-1,318	120	-2,589	-4,025	-965
Pretax Income	5,444	5,906	3,298	474	2,166
Provision for Income Taxes	1,138	922	842	322	120
Net Income	3,400	4,594	2,829	641	1,815
Minority Interest in Earnings	575	681	146	37	91
Net Income Attributable to Preferred Dividends	119	104	93	107	140
Earnings From Discontinued Operations	-212	395	612	633	-
Net Income to Common	3,400	4,594	2,829	641	1,815
Net Income Growth	-25.99%	62.39%	341.34%	-64.68%	-59.28%
Shares Outstanding (Basic)	1,040	1,038	1,030	995	973
Shares Outstanding (Diluted)	1,040	1,038	1,030	996	974
Shares Change (YoY)	0.18%	0.78%	3.41%	2.26%	3.62%
EPS (Basic)	3.27	4.43	2.75	0.64	1.87
EPS (Diluted)	3.27	4.43	2.75	0.64	1.86
EPS Growth	-26.19%	61.09%	329.69%	-65.59%	-60.76%
Free Cash Flow	2,060	1,338	-881	-352	966
Free Cash Flow Growth	53.96%	-	-	-	-
Free Cash Flow Per Share	-	1.29	-0.86	-0.35	0.99
Dividends Per Share	3.400	3.703	3.720	3.600	3.480
Dividend Growth	-8.17%	-0.47%	3.33%	3.45%	7.41%
Gross Margin	50.15%	47.97%	50.26%	47.10%	49.90%
Operating Margin	44.37%	42.02%	44.37%	36.55%	23.39%
Profit Margin	26.87%	39.06%	23.13%	6.38%	15.28%
FCF Margin	13.52%	9.72%	-6.64%	-2.86%	7.22%
EBITDA	9,531	8,574	8,665	7,083	5,653
EBITDA Margin	62.54%	62.26%	65.31%	57.54%	42.23%
EBIT	6,762	5,786	5,887	4,499	3,131
EBIT Margin	44.37%	42.02%	44.37%	36.55%	23.39%
Effective Tax Rate	20.90%	15.61%	25.53%	67.93%	5.54%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.