TC Energy Corporation risk profile
28 Normal where most of the sector sits
Measured 1 September 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 | 22 | Normal | Stable | One-year price volatility — 19.3% |
| 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 | 10 | Contained | Stable | Revenue-growth gap against peers — +39.3 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