TC Energy Ratios and Metrics

Market cap in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 14, 2026	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
Market Capitalization	89,626	78,679	69,533	53,700	54,628	57,610
Market Cap Growth	25.31%	13.15%	29.48%	-1.70%	-5.18%	18.42%
Enterprise Value	161,925	150,517	149,419	118,993	113,338	112,815
Last Close Price	86.11	74.82	63.23	41.77	40.54	41.70
PE Ratio	24.82	23.14	15.14	18.98	85.22	31.74
Forward PE	23.24	20.34	18.57	13.40	12.78	13.95
PS Ratio	5.88	5.16	5.05	4.05	4.44	4.30
PB Ratio	2.43	2.13	1.81	1.38	1.60	1.73
P/TBV Ratio	7.45	6.54	6.09	3.70	2.93	3.35
P/FCF Ratio	43.51	38.19	51.97	-	-	59.64
P/OCF Ratio	12.20	10.71	9.04	7.39	8.57	8.36
PEG Ratio	4.74	-	-	23.64	2.56	3.49
EV/Sales Ratio	10.63	9.88	10.85	8.97	9.21	8.43
EV/EBITDA Ratio	14.84	15.79	17.96	14.28	14.81	12.26
EV/EBIT Ratio	20.15	22.26	25.82	20.21	22.36	16.89
EV/FCF Ratio	78.60	73.07	111.67	-	-	116.79
Debt / Equity Ratio	1.65	1.65	1.57	1.63	1.72	1.59
Debt / EBITDA Ratio	6.33	6.33	7.12	7.55	7.58	5.72
Debt / FCF Ratio	29.62	29.62	44.86	-	-	55.09
Net Debt / Equity Ratio	1.64	1.64	1.54	1.52	1.69	1.57
Net Debt / EBITDA Ratio	6.34	6.34	7.08	7.14	7.52	5.69
Net Debt / FCF Ratio	29.34	29.34	44.01	-67.49	-163.58	54.23
Asset Turnover	0.13	0.13	0.11	0.11	0.11	0.13
Inventory Turnover	6.17	6.17	5.95	4.87	5.12	6.07
Quick Ratio	0.49	0.49	0.40	0.60	0.34	0.37
Current Ratio	0.63	0.63	0.55	0.96	0.43	0.57
Return on Equity (ROE)	11.44%	11.44%	12.88%	6.72%	0.45%	6.12%
Return on Assets (ROA)	3.57%	3.57%	2.97%	3.07%	2.90%	4.08%
Return on Invested Capital (ROIC)	5.51%	5.50%	4.99%	4.61%	1.83%	7.53%
Return on Capital Employed (ROCE)	6.20%	6.20%	5.40%	5.20%	5.20%	7.30%
Earnings Yield	3.79%	4.47%	6.76%	5.44%	1.37%	3.39%
FCF Yield	2.30%	2.62%	1.92%	-1.64%	-0.64%	1.68%
Dividend Yield	4.08%	4.54%	5.86%	8.91%	8.88%	8.35%
Payout Ratio	104.94%	102.90%	86.25%	98.53%	440.91%	176.88%
Buyback Yield / Dilution	-0.19%	-0.19%	-0.78%	-3.41%	-2.26%	-3.62%
Total Shareholder Return	3.88%	4.35%	5.08%	5.49%	6.62%	4.73%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.