TC Energy Corporation (TRP) Key Metrics
TRP valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $64.32B
- Enterprise value
- $108.24B
- P/E (TTM)
- 24.3
- Forward P/E
- 21.2
- PEG ratio
- 2.97
- Price / sales
- 4.1
- Price / book
- 3.5
- EV / EBITDA
- 13.2
- Dividend yield
- 4.00% $2.47 a year
- Beta
- 0.98
TRP key metrics, 2024–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTRP valuation Price multiples at each fiscal year-end price.
TRP returns How much profit the business earns on the capital it uses.
TRP per-share figures Results divided by the shares outstanding at year-end.
TRP financial health Debt, liquidity and how easily interest is covered.
TRP efficiency & capital use Working capital cycle and where the cash goes.
TRP valuation history
TRP returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TRP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TRP cash returned to shareholders
TRP price vs earnings per share
TRP key metrics
2024–2025| 2025 | 2024 | |
|---|---|---|
| Valuation | ||
| Market capitalization | $57.21B | $48.30B |
| Enterprise value | $117.90B | $107.37B |
| P/E ratio | 16.3 | 10.3 |
| Price / sales | 3.8 | 3.5 |
| Price / book | 2.1 | 1.8 |
| Price / free cash flow | 27.8 | 36.1 |
| Price / operating cash flow | 7.8 | 6.3 |
| EV / sales | 7.8 | 7.8 |
| EV / EBITDA | 10.2 | 9.6 |
| EV / free cash flow | 57.2 | 80.2 |
| Earnings yield | 6.1% | 9.7% |
| Free cash flow yield | 3.6% | 2.8% |
| Dividend yield | 6.3% | 8.4% |
| Shareholder yield (dividends + buybacks) | 6.8% | 8.4% |
| Share price at fiscal year-end | $55.01 | $46.53 |
| Per share | ||
| Revenue per share | $14.60 | $13.27 |
| Earnings per share | $3.38 | $4.53 |
| Operating cash flow per share | $7.06 | $7.41 |
| Free cash flow per share | $1.98 | $1.29 |
| Cash per share | $0.25 | $0.77 |
| Book value per share | $26.22 | $26.58 |
| Tangible book value per share | $13.64 | $13.41 |
| Dividends per share | $3.48 | $3.90 |
| Capex per share | $5.08 | $6.13 |
| Debt per share | $58.60 | $57.68 |
| Shares outstanding | 1.04B | 1.04B |
| Change in shares outstanding | +0.2% | — |
| Returns & profitability | ||
| Return on equity (ROE) | 12.8% | 17.0% |
| Return on invested capital (ROIC) | 6.1% | 5.6% |
| Return on assets (ROA) | 3.0% | 4.0% |
| Return on tangible assets | 3.3% | 4.5% |
| Free cash flow margin | 13.6% | 9.7% |
| Income quality (OCF / net income) | 2.09 | 1.64 |
| Financial health | ||
| Total debt | $60.95B | $59.88B |
| Cash & short-term investments | $260.8M | $801.0M |
| Net debt | $60.69B | $59.08B |
| Debt / equity | 2.23 | 2.17 |
| Debt / assets | 0.51 | 0.51 |
| Net debt / EBITDA | 5.23 | 5.27 |
| Current ratio | 0.63 | 0.55 |
| Quick ratio | 0.56 | 0.47 |
| Interest coverage | 2.0 | 2.3 |
| Working capital | −$3.64B | −$4.78B |
| Invested capital | $87.96B | $86.67B |
| Tangible asset value | $23.78B | $24.69B |
| Net current asset value | −$75.47B | −$74.15B |
| Graham number | $44.66 | $52.03 |
| Graham net-net per share | −$75.84 | −$73.58 |
| Capital allocation | ||
| Dividends paid | $3.62B | $4.05B |
| Share buybacks (net) | $250.0M | $0 |
| Dividend payout ratio | 103.0% | 86.2% |
| Dividends + buybacks / free cash flow | 187.9% | 302.8% |
| Capex / revenue | 34.8% | 46.2% |
| Capex / operating cash flow | 72.0% | 82.6% |
| Capex / depreciation | 1.91 | 2.28 |
| SG&A / revenue | 5.8% | 6.0% |
| Efficiency | ||
| Days sales outstanding | 73.5 | 82.4 |
| Days of inventory on hand | 36.8 | 38.1 |
| Days payables outstanding | 167.3 | 188.4 |
| Cash conversion cycle (days) | -57.1 | -68.0 |
| Receivables turnover | 4.97 | 4.43 |
| Payables turnover | 2.18 | 1.94 |
| Inventory turnover | 9.93 | 9.59 |
| Asset turnover | 0.13 | 0.12 |
| Average receivables | $3.06B | $3.11B |
| Average payables | $3.48B | $3.70B |
| Average inventory | $764.2M | $747.0M |
| Intangibles / total assets | 11.0% | 11.6% |
Computed from TRP's annual financial statements (latest annual report filed February 13, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TRP valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), TC Energy traded at 16.3 times earnings. Based on the latest twelve months, the trailing P/E is 24.3 and the forward P/E is 21.2. TC Energy earned a return on equity of 12.8% and a return on invested capital of 6.1% in fiscal 2025. It ended the year with $60.9 billion of debt and $260.8 million in cash and short-term investments, net debt of $60.7 billion. It returned $3.9 billion to shareholders: $3.6 billion in dividends and $250.0 million in share buybacks, 188% of free cash flow.
See the TRP income statement, the TRP chart for price history, or the TRP stock overview for the latest quote and news.
TRP key metrics FAQ
What is TC Energy's P/E ratio?
TC Energy's trailing P/E ratio is 24.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 21.2. At the end of fiscal 2025 it was 16.3.
What is TC Energy's EV/EBITDA?
TC Energy's enterprise value was 10.2 times EBITDA at the end of fiscal 2025 (enterprise value $117.9 billion, EBITDA $11.6 billion); the current EV/EBITDA is 13.2.
What is TC Energy's return on equity?
TC Energy's return on equity (ROE) was 12.8% in fiscal 2025: net income of $3.5 billion on average shareholders' equity of $27.4 billion.
What is TC Energy's ROIC?
TC Energy's return on invested capital was 6.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does TC Energy have?
TC Energy had total debt of $60.9 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.23 and $60.7 billion of net debt (5.23 times EBITDA).
What is TC Energy's dividend yield?
TC Energy's forward dividend yield is 4.00%. TC Energy paid $3.6 billion in dividends in fiscal 2025 ($3.48 per share), a payout ratio of 103.0%.
Does TC Energy buy back its shares?
Yes. TC Energy spent $250.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.2% over the year, to 1.04B..
What is TC Energy's free cash flow yield?
TC Energy generated $2.1 billion of free cash flow in fiscal 2025, a free cash flow yield of 3.6% on its market value at year-end ($57.2 billion).
What is TC Energy's current ratio?
TC Energy's current ratio was 0.63 at the end of fiscal 2025: current assets were 0.63 times current liabilities.