TC Energy Corporation
Research TC Energy Corporation (TRP) on Bullrun: valuation model: 13.3% overvalued, market cap USD 62.57B, P/E 24.9, dividend yield 3.1%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerTRP
- ExchangeNYSE
- CountryCanada
- SectorEnergy
- IndustryOil & Gas Midstream
- CurrencyUSD
- Valuation signal13.3% overvalued
- Market capUSD 62.57B
- P/E24.9
- Dividend yield3.1%
- Financial periodQ2 2026
- RevenueCAD 3.96B
- Net incomeCAD 1.02B
- Free cash flowCAD 1.32B
- Gross margin50.0%
Valuation Snapshot
Bullrun's latest valuation model marks TC Energy Corporation as 13.3% overvalued; latest market cap is USD 62.57B; P/E is 24.9; dividend yield is 3.1%.
Peer valuation comparison
Latest P/E is 24.88x versus a Energy sector median of 15.51x (60.4% above).
Latest dividend yield is 3.11% versus a Energy sector median of 3.67% (15.3% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | CAD 15.24B | CAD 3.52B | CAD 2.06B | 50.2% | 3.27 | CAD 168.00M | CAD 60.63B | CAD 27.30B |
| FY2024 | CAD 13.77B | CAD 4.70B | CAD 1.34B | 48.0% | 4.43 | CAD 801.00M | CAD 59.88B | CAD 27.59B |
| FY2023 | CAD 13.27B | CAD 2.92B | -CAD 881.00M | 50.3% | 2.75 | CAD 3.68B | CAD 63.66B | CAD 29.55B |
| FY2022 | CAD 12.31B | CAD 748.00M | -CAD 352.00M | 47.1% | 0.64 | CAD 620.00M | CAD 58.68B | CAD 33.99B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-10-09 | USD 62.57B | 24.9 | 3.1% | 1.87 |
| 2025 | 2025-12-31 | USD 57.26B | 23.6 | 1.1% | 0.62 |
| 2024 | 2024-12-31 | USD 48.35B | 14.4 | 4.6% | 2.12 |
| 2023 | 2023-12-29 | USD 40.54B | n/a | 7.1% | 2.78 |
| 2022 | 2022-12-30 | USD 39.86B | 15.7 | 6.9% | 2.74 |
| 2021 | 2021-12-31 | USD 45.65B | 31.7 | 6.0% | 2.77 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 1.87 USD, yield 3.1%.
| Year | Dividends/share |
|---|---|
| FY2025 | 0.62 CAD |
| FY2024 | 2.12 CAD |
| FY2023 | 2.78 CAD |
| FY2022 | 2.74 CAD |
About TC Energy Corporation
TC Energy Corporation operates as an energy infrastructure company in Canada, the United States, and Mexico. It operates through four segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; and Power and Energy Solutions.
ETFs that hold TC Energy Corporation
TC Energy Corporation is one of the ten largest holdings of 2 ETFs that investors in Europe can buy, most traded first:
| ETF | Weight | TER |
|---|---|---|
| Xtrackers MSCI Canada Screened UCITS ETF 1C | 4.14% | 0.35% |
| Invesco S&P World Energy ESG UCITS ETF | 6.01% | 0.18% |
Related stock research
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Frequently asked questions
Is TC Energy Corporation overvalued or undervalued?
Bullrun's valuation model currently marks TC Energy Corporation as 13.3% overvalued.
What is TC Energy Corporation's market cap?
TC Energy Corporation's market capitalization is USD 62.57B.
What is TC Energy Corporation's P/E ratio?
TC Energy Corporation's price-to-earnings (P/E) ratio is 24.9.
Does TC Energy Corporation pay a dividend?
TC Energy Corporation has a dividend yield of 3.1%.
What does TC Energy Corporation do?
TC Energy Corporation operates as an energy infrastructure company in Canada, the United States, and Mexico. It operates through four segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; and Power and Energy Solutions. The company builds and operates a network of 94,171 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.