TC Energy Corporation (TRP) Income Statement
TRP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTRP revenue and net income
Where TRP's revenue goes
2025Each bar shows an amount and its share of revenue. TRP kept 23.2% of revenue as net income.
TRP profit margins
TRP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +10.3% | — | — | — |
| Gross profit | +15.0% | — | — | — |
| Operating income | +16.1% | — | — | — |
| Net income | −25.2% | — | — | — |
| EPS (diluted) | −17.4% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TRP quarterly EPS vs estimates
TC Energy beat the analyst EPS estimate in 2 of the last 2 quarters. Next report: November 5, 2026 (estimate $0.59).
TRP income statement
| 2025 | 2024 | |
|---|---|---|
| Revenue | $15.19B | $13.77B |
| Cost of revenue | $7.59B | $7.17B |
| Gross profit | $7.60B | $6.61B |
| Sales, general & admin | $881.0M | $820.0M |
| Total operating expenses | $880.3M | $820.0M |
| Operating income | $6.72B | $5.79B |
| Interest income | $1.77B | $542.0M |
| Interest expense | $3.39B | $2.52B |
| Income before taxes | $5.44B | $5.91B |
| Income taxes | $1.14B | $922.0M |
| Net income | $3.52B | $4.70B |
| EBITDA | $11.60B | $11.22B |
| EPS (diluted) | $3.52 | $4.26 |
| Gross margin | 50.0% | 48.0% |
| Operating margin | 44.2% | 42.0% |
| Net margin | 23.2% | 34.1% |
| Dec '25 | Jun '25 | |
|---|---|---|
| Revenue | $4.07B | $3.74B |
| Cost of revenue | $2.05B | $1.90B |
| Gross profit | $2.02B | $1.84B |
| Sales, general & admin | $224.0M | $218.0M |
| Total operating expenses | $223.8M | $218.0M |
| Operating income | $1.80B | $1.62B |
| Interest income | $506.0M | $399.0M |
| Interest expense | $869.3M | $733.0M |
| Income before taxes | $1.42B | $1.34B |
| Income taxes | $262.8M | $337.0M |
| Net income | $1.01B | $861.0M |
| EBITDA | $3.01B | $2.74B |
| EPS (diluted) | $0.98 | $0.82 |
| Gross margin | 49.7% | 49.2% |
| Operating margin | 44.2% | 43.4% |
| Net margin | 24.9% | 23.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TRP's financial statements (latest annual report filed February 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TRP financial results
In fiscal year 2025 (ended December 31, 2025), TC Energy reported revenue of $15.2 billion, up 10.3% from the year before. It had net income of $3.5 billion (down 25.2%), a net profit margin of 23.2%. Diluted earnings per share came to $3.52.
See the TRP stock overview for the latest quote and news, or the TRP chart for price history and technical indicators.
TRP income statement FAQ
What is TC Energy's annual revenue?
TC Energy reported total revenue of $15.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 10.3% from $13.8 billion the previous year.
Is TC Energy profitable?
Yes. TC Energy reported net income of $3.5 billion in fiscal 2025, a net profit margin of 23.2%; its operating margin was 44.2%.
What is TC Energy's gross margin?
TC Energy's gross margin was 50.0% in fiscal 2025: for every $100 of revenue, TC Energy kept $50 after the direct cost of its products and services.
What are TC Energy's earnings per share?
TC Energy earned $3.52 per diluted share in fiscal 2025, compared with $4.26 a year earlier.
When will TC Energy report its next earnings?
TC Energy is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does TC Energy's fiscal year end?
TC Energy's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 13, 2026.