TC Energy Corporation risk profile
28 Normal where most of the sector sits
Measured 21 October 2026 from TRP's filed statements. Recomputed nightly.
28 (Normal), driven by Leverage and coverage at 70, over 5 weighted categories on the MANUFACTURER profile.
What is measured
| Mechanism | Reading | Band | Direction | Driver |
|---|---|---|---|---|
| Market expectation | 23 | Normal | Stable | One-year price volatility — 20.2% |
| Operating pressure | 38 | Normal | Easing | Operating-margin drift — +3.2 percentage points |
| Cash conversion | 26 | Normal | Easing | Capital spending against operating cash — 0.72x |
| Leverage and coverage | 70 | Stretched | Stable | Net debt to EBITDA — 5.47x |
| Competitive position | 9 | Contained | Stable | Revenue-growth gap against peers — +37.6 percentage points |
| Concentration | Reads identified supplier spend, customers above the 10% disclosure threshold and revenue by region. No reading is stored for this company. | |||
These are descriptive readings of disclosed mechanisms, not investment advice, and not a prediction. A band says where a measured input sits, never what to do about it or what happens next.
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Financials, valuation and price history for TC Energy Corporation