TRP TC Energy Corporation Common Stock
NYSE · Energy · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Feb 13, 2026
$59.07
· of 52w range
· above low
· to high
$49.2752w low
$71.4752w high
Market Cap
$61.49B
P/E
18.1
EPS
$3.27
Revenue
$15.24B
your badges
52W Range
$49–$71
Analyst Rating
BUY
Price Target
$66
P/E
18.1
ROE
12.8%
Net Profit Margin
23.1%
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TRP Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$59.07
Market Cap
$61.49B
P/E
18.1
EPS
$3.27
Revenue
$15.24B
Div Yield
5.7%
ROE
12.8%
Debt/Equity
0.1
52W Range
$49–$71
TRP Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| Feb. 13, 1984 | 2-for-1 | Forward |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$15.24B2016-12-31 → 2025-12-31
EPS$3.272016-12-31 → 2025-12-31
Free Cash Flow·2016-12-31 → 2024-12-31
Net margin23.1%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | TRP | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 18.15Y avg ≈25.8 | ≈25.8 | · | · | |
| P/S | 4.05Y avg ≈3.4 | ≈3.4 | · | · | |
| P/B | 2.35Y avg ≈1.6 | ≈1.6 | · | · | |
| EV / EBITDA | 5.85Y avg ≈5.7 | ≈5.7 | · | · | |
| Price / Cash Flow | 8.45Y avg ≈6.5 | ≈6.5 | · | · | |
| EV / Revenue | 4.15Y avg ≈3.5 | ≈3.5 | · | · | |
| Price / Tangible Book | 4.35Y avg ≈2.8 | ≈2.8 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | TRP | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin | 52.7%5Y avg ≈40.7% | ≈40.7% | · | · | |
| EBITDA Margin | 70.9%5Y avg ≈59.1% | ≈59.1% | · | · | |
| Pretax Margin | 35.7%5Y avg ≈25.8% | ≈25.8% | · | · | |
| Net Profit Margin | 23.1%5Y avg ≈19.0% | ≈19.0% | · | · | |
| ROA | 3.0%5Y avg ≈2.4% | ≈2.4% | · | · | |
| ROE | 12.8%5Y avg ≈9.3% | ≈9.3% | · | · | |
| ROIC | 22.0%5Y avg ≈15.1% | ≈15.1% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | TRP | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity | 0.15Y avg ≈0.1 | ≈0.1 | · | · | |
| Current Ratio | 0.65Y avg ≈0.6 | ≈0.6 | · | · | |
| Quick Ratio | 0.35Y avg ≈0.4 | ≈0.4 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | TRP | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.15Y avg ≈0.1 | ≈0.1 | · | · | |
| Inventory Turnover | 0.35Y avg ≈0.4 | ≈0.4 | · | · | |
| Receivables Turnover | 5.65Y avg ≈4.9 | ≈4.9 | · | · | |
| Revenue / Employee | ≈$2.3M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield5.7%
Payout Ratio99.7%
Annualized Payout≈$2.48
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Sep 29, 2026 | $0.62 | USD | ≈3.2% |
| Jun 30, 2026 | $0.62 | USD | ≈1.9% |
| Mar 31, 2026 | $0.63 | USD | ≈1.0% |
| Jun 30, 2025 | $0.62 | USD | ≈5.0% |
| Mar 31, 2025 | $0.59 | USD | ≈5.2% |
| Dec 31, 2024 | $0.57 | USD | ≈5.4% |
| Sep 27, 2024 | $0.65 | USD | ≈5.5% |
| Jun 28, 2024 | $0.64 | USD | ≈6.7% |
| Mar 27, 2024 | $0.64 | USD | ≈6.4% |
| Dec 28, 2023 | $0.64 | USD | ≈6.5% |
| Sep 28, 2023 | $0.63 | USD | ≈7.2% |
| Jun 29, 2023 | $0.64 | USD | ≈6.2% |
| Mar 30, 2023 | $0.63 | USD | ≈6.3% |
| Dec 29, 2022 | $0.60 | USD | ≈6.3% |
| Sep 28, 2022 | $0.60 | USD | ≈5.8% |
| Jun 29, 2022 | $0.64 | USD | ≈4.9% |
| Mar 30, 2022 | $0.66 | USD | ≈4.5% |
| Dec 30, 2021 | $0.62 | USD | ≈5.5% |
| Sep 28, 2021 | $0.63 | USD | ≈5.1% |
| Jun 29, 2021 | $0.64 | USD | ≈4.9% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
2.1%
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | $0.94 | $0.84 | 11.5% | |
| March 31, 2026 | $0.99 | $0.99 | -0.07% | |
| Dec. 31, 2025 | $0.98 | $0.93 | 5.2% | |
| Sept. 30, 2025 | $0.77 | $0.81 | -4.6% | |
| June 30, 2025 | $0.82 | $0.79 | 3.8% | |
| March 31, 2025 | $0.95 | $0.98 | -3.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.24B | $13.77B | $13.27B | $12.31B | $13.39B | $13.00B | $13.26B | $13.68B | $13.45B | $12.55B | $11.35B | $10.19B | |
| Cost of Revenue | $208M | $217M | $80M | $22M | $87M | $0 | $365M | $1.49B | $2.38B | $2.17B | · | · | |
| Operating Expenses | $8.48B | $7.99B | $7.38B | $7.81B | $10.26B | $7.20B | $7.47B | $8.80B | $10.17B | $9.91B | $11.57B | $6.89B | |
| Operating Income | $8.04B | $7.96B | $5.10B | $2.45B | $4.06B | $6.77B | $6.58B | $5.76B | $4.68B | $2.31B | $101M | $3.93B | |
| Interest Expense | · | · | $3.26B | $2.59B | $2.36B | $2.23B | $2.33B | $2.27B | $2.07B | $2.00B | $1.37B | $1.20B | |
| Other Non-op | $205M | $324M | $272M | $140M | $190M | $185M | $460M | $-76M | $184M | $103M | · | · | |
| Pretax Income | $5.44B | $5.91B | $3.30B | $474M | $2.17B | $5.11B | $5.19B | $3.95B | $3.31B | $837M | $-1.11B | $2.82B | |
| Income Tax | $1.14B | $922M | $842M | $322M | $120M | $194M | $754M | $432M | $-89M | $352M | $34M | $831M | |
| Net Income | $3.52B | $4.70B | $2.92B | $748M | $1.96B | $4.62B | $4.14B | $3.70B | $3.16B | $233M | $-1.15B | $1.84B | |
| EPS (Basic) | $3.27 | $4.43 | $2.75 | $0.64 | $1.87 | $4.74 | $4.28 | $3.92 | $3.44 | $0.16 | $-1.75 | · | |
| EPS (Diluted) | $3.27 | $4.43 | $2.75 | $0.64 | $1.86 | $4.74 | $4.27 | $3.92 | $3.43 | $0.16 | $-1.75 | · | |
| Shares (Basic) | 1,040,000,000 | 1,038,000,000 | 1,030,000,000 | 995,000,000 | 973,000,000 | 940,000,000 | 929,000,000 | 902,000,000 | 872,000,000 | 759,000,000 | 709,000,000 | 708,000,000 | |
| Shares (Diluted) | 1,040,000,000 | 1,038,000,000 | 1,030,000,000 | 996,000,000 | 974,000,000 | 940,000,000 | 931,000,000 | 903,000,000 | 874,000,000 | 760,000,000 | 709,000,000 | 710,000,000 | |
| EBITDA | $10.80B | $10.75B | $8.91B | $6.22B | $6.58B | $9.36B | $9.05B | $8.11B | $6.74B | $4.25B | $1.87B | $5.54B |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $168M | $801M | $3.68B | $620M | $673M | $1.53B | $1.34B | $446M | $1.09B | $1.02B | $850M | $489M | |
| Receivables | $2.79B | $2.61B | $2.43B | $3.62B | $3.09B | $2.16B | $2.42B | $2.54B | $2.52B | $2.08B | $1.39B | $1.31B | |
| Inventory | $782M | $747M | $771M | $936M | $724M | $629M | $452M | $431M | $378M | $368M | $323M | $292M | |
| Prepaid Expense | $82M | $86M | $87M | $118M | $112M | $126M | $60M | · | · | · | · | · | |
| Other Current Assets | $2.38B | $1.34B | $1.42B | $2.15B | $1.72B | $880M | $627M | $1.18B | $691M | $908M | $1.34B | $1.02B | |
| Current Assets | $6.32B | $5.73B | $11.37B | $7.33B | $7.42B | $5.20B | $7.65B | $5.13B | $4.68B | $8.08B | $3.92B | $3.11B | |
| PP&E (Net) | $71.05B | $77.50B | $69.45B | $75.94B | $70.18B | $69.78B | $65.49B | $66.50B | $57.28B | $54.48B | $44.82B | $41.77B | |
| PP&E (Gross) | $108.00B | $112.90B | $102.59B | $110.57B | $102.11B | $99.37B | $92.81B | $92.34B | $81.01B | $76.76B | $67.12B | $61.64B | |
| Accum. Depreciation | $36.95B | $35.40B | $33.14B | $34.63B | $31.93B | $29.60B | $27.32B | $25.83B | $23.73B | $22.29B | $22.30B | $19.86B | |
| Goodwill | $13.02B | $13.67B | $12.53B | $12.84B | $12.58B | $12.68B | $12.89B | $14.18B | $13.08B | $13.96B | $4.81B | $4.03B | |
| Intangibles | · | · | · | · | · | · | $2.17B | $1.92B | $1.48B | $3.03B | $3.10B | $2.65B | |
| Other Non-current Assets | $2.48B | $2.41B | $2.88B | $2.79B | $1.40B | $979M | $2.17B | $295M | $306M | $218M | $478M | $629M | |
| Total Assets | $118.75B | $118.24B | $125.03B | $114.35B | $104.22B | $100.30B | $99.28B | $98.92B | $86.10B | $88.05B | $64.40B | $58.52B | |
| Short-term Debt | · | · | · | · | · | $4.18B | $4.30B | $2.76B | $1.76B | $774M | $1.22B | $2.47B | |
| Current Liabilities | $9.96B | $10.51B | $11.82B | $16.91B | $13.04B | $11.99B | $12.90B | $12.95B | $9.88B | $7.68B | $7.36B | $7.58B | |
| Capital Leases | $370M | $451M | $400M | $379M | $380M | $427M | $476M | · | · | · | · | · | |
| Deferred Tax | $7.68B | $6.88B | $6.97B | $7.65B | $6.14B | $5.81B | $5.70B | $6.03B | $5.40B | $7.66B | $5.14B | $4.86B | |
| Other Non-current Liabilities | $1.03B | $1.05B | $991M | $1.02B | $1.06B | $1.48B | $1.61B | $1.01B | $152M | $215M | $120M | $79M | |
| Total Liabilities | $81.85B | $79.88B | $86.03B | $80.23B | $70.82B | $66.83B | $66.88B | $67.93B | $59.21B | $60.89B | $46.24B | $37.87B | |
| Long-term Debt | · | $2.80B | $2.00B | $1.60B | $0 | · | $200M | $750M | $1.10B | $850M | $850M | $400M | |
| Total Debt | $1.54B | $2.96B | $2.94B | $1.90B | $1.32B | $6.15B | $7.00B | $42.73B | $36.50B | $40.92B | $32.80B | $27.22B | |
| Common Stock | $30.22B | $30.10B | $30.00B | $29.00B | $26.72B | $24.49B | $24.39B | $23.17B | $21.17B | $20.10B | $12.10B | $12.20B | |
| Paid-in Capital | · | · | $0 | $722M | $729M | $2M | $0 | $17M | $0 | $0 | $7M | $370M | |
| Retained Earnings | $-5.92B | $-5.24B | $-3.00B | $819M | $3.77B | $5.37B | $3.96B | $2.77B | $1.62B | $1.14B | $2.77B | $5.48B | |
| AOCI | $747M | $233M | $49M | $955M | $-1.43B | $-2.44B | $-1.56B | $-606M | $-1.73B | $-960M | $-939M | $-1.24B | |
| Stockholders' Equity | $27.30B | $27.59B | $29.55B | $33.99B | $33.27B | $31.40B | $30.76B | $29.34B | $25.04B | $24.26B | $16.44B | $19.07B | |
| Liabilities + Equity | $118.75B | $118.24B | $125.03B | $114.35B | $104.22B | $100.30B | $99.28B | $98.92B | $86.10B | $88.05B | $64.40B | $58.52B | |
| Shares Outstanding | 1,041,000,000 | 1,039,000,000 | 1,037,488,000 | 1,017,962,000 | 980,816,000 | 940,064,000 | 938,400,000 | 918,097,000 | 881,376,000 | 863,759,000 | 702,614,000 | 708,662,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2.77B | $2.79B | $2.78B | $2.58B | $2.52B | $2.59B | $2.46B | $2.35B | $2.06B | $1.94B | $1.76B | $1.61B | |
| Deferred Tax | $771M | $427M | $-22M | $-41M | $-185M | $-58M | $55M | $284M | $566M | $196M | $-102M | $686M | |
| Amort. of Intangibles | · | · | · | · | · | · | · | · | · | $9M | $52M | $52M | |
| Restructuring | · | · | · | · | · | · | · | $42M | $6M | $44M | · | · | |
| Other Non-cash | $-216M | $-18M | $1.76B | $2.23B | $2.31B | $-417M | $716M | $117M | $-821M | $2.95B | $3.20B | $-247M | |
| Operating Cash Flow | $7.35B | $7.70B | $7.27B | $6.38B | $6.89B | $7.06B | $7.08B | $6.55B | $5.23B | $5.07B | $4.38B | $4.23B | |
| CapEx | · | $7.90B | $12.30B | $8.96B | $7.13B | $8.90B | $8.78B | $10.93B | $7.38B | $5.01B | $3.92B | $3.49B | |
| Investing Cash Flow | $-6.46B | $-6.91B | $-12.29B | $-7.01B | $-7.71B | $-6.05B | $-6.87B | $-10.02B | $-3.70B | $-18.78B | $-4.88B | $-4.29B | |
| Debt Issued | · | · | · | · | · | · | · | $6.24B | $3.64B | $12.33B | $5.04B | $1.40B | |
| Net Debt Issued | $-6.12B | $-9.27B | $-3.77B | $-1.34B | $-7.76B | $-3.98B | $-3.50B | $2.69B | $-3.44B | $5.18B | $2.94B | $334M | |
| Stock Issued | $104M | $88M | $4M | $1.91B | $148M | $91M | $253M | $1.15B | $274M | $7.75B | $27M | $47M | |
| Stock Repurchased | · | · | · | · | · | · | · | $0 | $0 | $14M | $294M | $0 | |
| Net Stock Activity | $104M | $88M | $4M | $1.91B | $148M | $91M | $253M | $1.15B | $274M | $7.73B | $-267M | $47M | |
| Dividends Paid | $3.51B | $3.95B | $2.79B | $3.19B | $3.32B | $2.99B | $1.80B | $1.57B | $1.34B | $1.44B | $1.45B | $1.34B | |
| Financing Cash Flow | $-1.52B | $-3.87B | $8.09B | $487M | $-88M | $-800M | $693M | $2.75B | $-1.42B | $14.01B | $744M | $-373M | |
| Net Change in Cash | $-633M | $-2.88B | $3.06B | $-53M | $-857M | $187M | $897M | $-643M | $73M | $166M | $361M | $-438M | |
| Taxes Paid | $543M | $387M | $791M | $394M | $371M | $252M | $713M | $338M | $247M | $105M | $162M | $109M | |
| Free Cash Flow | · | $-208M | $-5.03B | $-2.59B | $-244M | $-1.84B | $-393M | $-2.86B | $-2.15B | $62M | $197M | $529M | |
| Levered FCF | · | · | $-7.53B | $-4.06B | $-2.47B | $-3.99B | $-2.39B | $-4.88B | $-4.28B | $-1.10B | $-1.22B | $-316M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 52.7% | 57.8% | 38.5% | 24.2% | 30.3% | 52.1% | 49.7% | 42.1% | 34.8% | 18.5% | 0.89% | 38.6% | |
| Net Margin | 23.1% | 34.1% | 18.3% | 5.0% | 14.6% | 35.5% | 31.2% | 27.1% | 23.5% | 1.9% | -10.1% | 18.1% | |
| Pretax Margin | 35.7% | 42.9% | 25.2% | 9.2% | 16.2% | 39.3% | 39.1% | 28.9% | 24.6% | 6.7% | -9.8% | 27.7% | |
| EBITDA Margin | 70.9% | 78.1% | 55.9% | 41.5% | 49.2% | 72.0% | 68.3% | 59.3% | 50.1% | 34.0% | 16.5% | 54.4% | |
| ROA | 3.0% | 3.9% | 2.4% | 0.68% | 1.9% | 4.6% | 4.2% | 4.0% | 3.6% | 0.31% | -1.9% | 3.3% | |
| ROE | 12.8% | 16.4% | 9.2% | 2.2% | 6.0% | 14.8% | 13.8% | 13.6% | 12.8% | 1.1% | -6.5% | 9.8% | |
| ROIC | 22.0% | 22.0% | 14.4% | 5.8% | 11.1% | 17.3% | 14.9% | 7.1% | 7.8% | 2.1% | 0.21% | 6.0% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.6 | 0.5 | 1.0 | 0.4 | 0.6 | 0.4 | 0.6 | 0.4 | 0.5 | 1.1 | 0.5 | 0.5 | |
| Quick Ratio | 0.3 | 0.3 | 0.7 | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.4 | 0.4 | 0.3 | 0.2 | |
| Debt / Equity | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.2 | 0.2 | 1.5 | 1.5 | 1.7 | 2.0 | 1.4 | |
| LT Debt / Equity | · | · | · | · | · | · | · | 1.2 | 1.3 | 1.6 | 1.8 | 1.2 | |
| Interest Coverage | · | · | 1.9 | 1.4 | 1.7 | 3.0 | 2.8 | 2.5 | 2.3 | 1.2 | 0.1 | 3.3 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | |
| Inventory Turnover | 0.3 | 0.3 | 0.5 | 0.6 | 0.1 | · | 0.8 | 3.7 | · | · | · | · | |
| Receivables Turnover | 5.6 | 5.5 | 4.1 | 4.5 | 5.1 | 5.7 | 5.3 | 5.5 | 5.9 | 7.2 | 8.4 | 8.4 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $26.22 | $26.56 | $28.50 | $33.39 | $33.92 | $33.40 | $32.80 | $31.96 | $28.42 | $28.08 | $23.38 | $26.90 | |
| Revenue / Share | $14.65 | $13.27 | $15.47 | $15.04 | $13.74 | $13.83 | $14.24 | $15.15 | $15.39 | $16.45 | $15.94 | $14.35 | |
| Cash Flow / Share | $7.06 | $7.41 | $7.06 | $6.40 | $7.07 | $7.51 | $7.61 | $7.26 | $5.98 | $6.67 | $5.80 | $5.75 | |
| Cash / Share | $0.16 | $0.77 | $3.55 | $0.61 | $0.69 | $1.63 | $1.43 | $0.49 | $1.24 | $1.18 | $1.21 | $0.69 | |
| Dividend / Share | $3.40 | $3.70 | $3.72 | $3.60 | $3.48 | $3.24 | $3.00 | $2.76 | $2.50 | $2.26 | $2.08 | $1.92 | |
| EPS (TTM) | $3.27 | $4.43 | $2.75 | $0.64 | $1.86 | $4.74 | $4.27 | $3.92 | $3.43 | $0.16 | $-1.75 | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $15.24B | $13.77B | $13.27B | $12.31B | $13.39B | $13.00B | $13.26B | $13.68B | $13.45B | $12.55B | $11.35B | $10.19B | |
| Net Income TTM | $3.52B | $4.70B | $2.92B | $748M | $1.96B | $4.62B | $4.14B | $3.70B | $3.16B | $233M | $-1.15B | $1.84B | |
| Market Cap | $57.27B | $48.34B | $40.54B | $40.58B | $45.66B | $38.28B | $50.00B | $32.77B | $42.85B | $39.01B | $22.91B | $34.81B | |
| Enterprise Value | $58.64B | $50.50B | $39.80B | $41.86B | $46.30B | $42.89B | $55.67B | $75.06B | $78.27B | $78.92B | $54.86B | $61.55B | |
| P/E | 16.8 | 10.5 | 14.2 | 62.3 | 25.0 | 8.6 | 12.5 | 9.1 | 14.2 | 282.2 | -18.6 | · | |
| P/S | 3.8 | 3.5 | 3.1 | 3.3 | 3.4 | 2.9 | 3.8 | 2.4 | 3.2 | 3.1 | 2.0 | 3.4 | |
| P/B | 2.1 | 1.8 | 1.4 | 1.2 | 1.4 | 1.2 | 1.6 | 1.1 | 1.7 | 1.6 | 1.4 | 1.8 | |
| P / Tangible Book | 4.0 | 3.5 | 2.4 | 1.9 | 2.2 | 2.0 | · | · | · | · | · | · | |
| P / Cash Flow | 7.8 | 6.3 | 5.6 | 6.4 | 6.6 | 5.4 | 7.1 | 5.0 | 8.2 | 7.7 | 5.6 | 8.5 | |
| P / FCF | · | -232.4 | -8.1 | -15.7 | -187.1 | -20.8 | -127.2 | -11.4 | -19.9 | 629.2 | 116.3 | 65.8 | |
| EV / EBITDA | 5.4 | 4.7 | 4.5 | 6.7 | 7.0 | 4.6 | 6.2 | 9.3 | 11.6 | 18.6 | 29.4 | 11.1 | |
| EV / FCF | · | -242.8 | -7.9 | -16.2 | -189.8 | -23.3 | -141.6 | -26.2 | -36.4 | 1272.9 | 278.5 | 116.3 | |
| EV / Revenue | 3.8 | 3.7 | 3.0 | 3.4 | 3.5 | 3.3 | 4.2 | 5.5 | 5.8 | 6.3 | 4.8 | 6.0 | |
| Dividend Yield | 6.1% | 8.2% | 6.9% | 7.9% | 7.3% | 7.8% | 3.6% | 4.8% | 3.1% | 3.7% | 6.3% | 3.9% | |
| Earnings Yield | 5.9% | 9.5% | 7.0% | 1.6% | 4.0% | 11.6% | 8.0% | 11.0% | 7.0% | 0.35% | -5.4% | · | |
| Payout Ratio | 99.7% | 84.1% | 95.4% | 426.7% | 169.7% | 64.7% | 43.4% | 42.4% | 42.4% | 616.3% | -126.2% | 73.1% | |
| Annual Payout | $3.51B | $3.95B | $2.79B | $3.19B | $3.32B | $2.99B | $1.80B | $1.57B | $1.34B | $1.44B | $1.45B | $1.34B |
Per Share
| Metric | Trend | Q4 2025 | Q4 2023 | Q4 2022 | Q4 2019 | Q4 2017 | Q4 2016 | Q4 2011 | Q4 2010 | Q4 2009 | Q4 2008 | Q4 2007 | Q4 2006 | Q4 2005 | Q4 2004 | Q4 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EPS (TTM) | $3.27 | $2.75 | $0.64 | $4.27 | $3.43 | $0.16 | $2.17 | $1.78 | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | Q4 2025 | Q4 2023 | Q4 2022 | Q4 2019 | Q4 2017 | Q4 2016 | Q4 2011 | Q4 2010 | Q4 2009 | Q4 2008 | Q4 2007 | Q4 2006 | Q4 2005 | Q4 2004 | Q4 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $15.24B | $13.27B | $12.31B | $13.26B | $13.45B | $12.55B | $7.84B | $6.85B | · | · | · | · | · | · | · | |
| Net Income TTM | $3.52B | $2.92B | $748M | $4.14B | $3.16B | $233M | $1.58B | $1.28B | · | · | · | · | · | · | · | |
| P/E | 16.8 | 14.2 | 62.3 | 12.5 | 14.2 | 282.2 | 20.1 | 21.4 | · | · | · | · | · | · | · | |
| Earnings Yield | 5.9% | 7.0% | 1.6% | 8.0% | 7.0% | 0.35% | 5.0% | 4.7% | · | · | · | · | · | · | · | |
| Annual Payout | $3.51B | $2.79B | $3.19B | $1.80B | $1.34B | $1.44B | $961M | $710M | · | · | · | · | · | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $15.24B | $13.77B | $13.27B | $12.31B | $13.39B |
| Operating Margin % | 52.7% | 57.8% | 38.5% | 24.2% | 30.3% |
| Net Income | $3.52B | $4.70B | $2.92B | $748M | $1.96B |
| Diluted EPS | $3.27 | $4.43 | $2.75 | $0.64 | $1.86 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 |
| Current Ratio | 0.6 | 0.5 | 1.0 | 0.4 | 0.6 |
| Quick Ratio | 0.3 | 0.3 | 0.7 | 0.3 | 0.3 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | · | $-208M | $-5.03B | $-2.59B | $-244M |
Institutional owners (13F) 759 filers · $49.3B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
759
Value held
$49.3B
New positions
75
Exited positions
47
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 75 (-35 vs prior Q) | 47 (+11 vs prior Q) | 248 (+4 vs prior Q) | 237 (+21 vs prior Q) | -33.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| ROYAL BANK OF CANADA | $5,263,680,000 | 79,403,845 | 10.68% | Shares |
| Capital Research Global Investors | $2,883,026,432 | 43,524,159 | 5.85% | Shares |
| VANGUARD GROUP INC | $2,632,200,334 | 47,801,695 | 5.34% | Shares |
| BANK OF MONTREAL /CAN/ | $2,465,057,480 | 37,261,213 | 5.00% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $1,982,909,914 | 29,943,371 | 4.02% | Shares |
| FIL Ltd | $1,846,623,817 | 27,885,160 | 3.75% | Shares |
| GOLDMAN SACHS GROUP INC | $1,403,324,546 | 21,169,476 | 2.85% | Shares |
| 1832 Asset Management L.P. | $1,358,938,835 | 20,499,907 | 2.76% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $1,148,244,295 | 17,356,583 | 2.33% | Shares |
| MACKENZIE FINANCIAL CORP | $1,145,343,505 | 12,194,884 | 2.32% | Shares |
| GQG Partners LLC | $1,107,935,862 | 16,736,302 | 2.25% | Shares |
| TD Asset Management Inc | $1,068,116,826 | 16,134,910 | 2.17% | Shares |
| CIBC WORLD MARKET INC. | $1,063,974,655 | 16,080,835 | 2.16% | Shares |
| DEUTSCHE BANK AG\ | $1,048,808,629 | 15,821,521 | 2.13% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $977,975,500 | 14,781,669 | 1.98% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $802,304,642 | 11,805,911 | 1.63% | Shares |
| TD Waterhouse Canada Inc. | $695,799,080 | 10,619,936 | 1.41% | Shares |
| NORGES BANK | $690,964,815 | 10,444,457 | 1.40% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $661,436,783 | 10,054,565 | 1.34% | Shares |
| Clearbridge Investments, LLC | $624,989,480 | 9,428,111 | 1.27% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $611,285,547 | 9,230,853 | 1.24% | Shares |
| JPMORGAN CHASE & CO | $592,208,157 | 8,645,373 | 1.20% | Shares |
| SCOTIA CAPITAL INC. | $591,539,160 | 8,944,435 | 1.20% | Shares |
| JARISLOWSKY, FRASER Ltd | $584,705,108 | 10,751,401 | 1.19% | Shares |
| CIBC Asset Management Inc | $584,074,173 | 8,815,178 | 1.19% | Shares |
| Vanguard Global Advisers, LLC | $529,130,534 | 7,990,253 | 1.07% | Shares |
| Legal & General Group Plc | $519,611,731 | 7,849,214 | 1.05% | Shares |
| Capital World Investors | $505,349,713 | 7,626,368 | 1.03% | Shares |
| Federation des caisses Desjardins du Quebec | $489,773,192 | 7,419,209 | 0.99% | Shares |
| TORTOISE CAPITAL ADVISORS, L.L.C. | $482,359,516 | 7,276,505 | 0.98% | Shares |
| MORGAN STANLEY | $428,714,866 | 6,467,261 | 0.87% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $362,981,978 | 5,491,844 | 0.74% | Shares |
| TORONTO DOMINION BANK | $361,989,204 | 5,470,863 | 0.73% | Shares |
| AMERICAN CENTURY COMPANIES INC | $359,607,515 | 5,430,262 | 0.73% | Shares |
| Dodge & Cox | $333,756,892 | 5,034,800 | 0.68% | Shares |
| Amundi | $328,510,436 | 4,955,656 | 0.67% | Shares |
| Rare Infrastructure Ltd | $317,432,716 | 6,506,102 | 0.64% | Shares |
| THORNBURG INVESTMENT MANAGEMENT INC | $314,611,423 | 4,755,014 | 0.64% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $313,541,491 | 4,729,846 | 0.64% | Shares |
| BANK OF NOVA SCOTIA | $298,788,074 | 4,512,114 | 0.61% | Shares |
| MUFG SECURITIES (CANADA), LTD. | $295,781,489 | 4,473,642 | 0.60% | Shares |
| Caisse de depot et placement du Quebec | $283,911,140 | 4,288,745 | 0.58% | Shares |
| ONTARIO TEACHERS PENSION PLAN BOARD | $273,916,860 | 4,140,461 | 0.56% | Shares |
| KAYNE ANDERSON CAPITAL ADVISORS LP | $260,023,784 | 3,922,519 | 0.53% | Shares |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | $239,123,964 | 3,614,540 | 0.49% | Shares |
| Capital International Investors | $235,169,124 | 3,539,679 | 0.48% | Shares |
| BANK OF AMERICA CORP /DE/ | $232,611,712 | 3,509,002 | 0.47% | Shares |
| Swiss National Bank | $222,201,686 | 3,365,201 | 0.45% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $206,466,049 | 3,118,864 | 0.42% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $189,068,258 | 2,759,365 | 0.38% | Shares |
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| TC Energy Corporation, TransCanada PipeLines Limited, TransCanada PipeLine USA Ltd., TransCan Northern Ltd., TC PipeLines GP, Inc. ×2 filings | March 3, 2021 | · | Initial filing | M&A / sale | SEC |
| TC Energy Corporation (formerly known as TransCanada Corporation), TransCanada PipeLines Limited, TransCan Northern Ltd., TC PipeLines GP, Inc. | Oct. 6, 2020 | · | Initial filing | · | SEC |
| TransCanada Corporation, TransCanada PipeLines Limited, TransCan Northern Ltd., TC PipeLines GP, Inc. ×2 filings | July 2, 2009 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 48 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| USAI · Pacer Funds Trust | 6.87% | 135,577 NS | July 31, 2026 | N-PORT |
| ELCV · Strategy Shares | 2.45% | 91,332 NS | July 31, 2026 | N-PORT |
| IGF · iShares Trust | 2.32% | 3,892,551 SH | Sept. 11, 2026 | Daily |
| BBCA · J.P. Morgan Exchange-Traded Fund Tr… | 2.28% | 3,680,213 NS | July 31, 2026 | N-PORT |
| PAYR · Federated Hermes ETF Trust | 2.22% | 18,770 NS | July 31, 2026 | N-PORT |
| EWC · iShares, Inc. | 2.09% | 2,306,911 SH | Sept. 11, 2026 | Daily |
| IXC · iShares Trust | 1.66% | 792,686 SH | Sept. 11, 2026 | Daily |
| IGE · iShares Trust | 1.57% | 203,497 SH | Sept. 11, 2026 | Daily |
| NFRA · FlexShares Trust | 1.08% | 484,446 NS | July 31, 2026 | N-PORT |
| AMZA · ETFis Series Trust I | 0.97% | 67,733 NS | July 31, 2026 | N-PORT |
| ESIM · Strategy Shares | 0.91% | 2,451 NS | July 31, 2026 | N-PORT |
| IDMO · Invesco Exchange-Traded Fund Trust … | 0.75% | 538,479 SH | Oct. 2, 2026 | Daily |
| BRNY · EA Series Trust | 0.58% | 49,900 NS | July 31, 2026 | N-PORT |
| IDLV · Invesco Exchange-Traded Fund Trust … | 0.53% | 28,213 SH | Oct. 2, 2026 | Daily |
| IMTM · iShares Trust | 0.39% | 275,059 SH | Sept. 11, 2026 | Daily |
| VYMI · VANGUARD WHITEHALL FUNDS | 0.37% | 1,165,434 SH | Aug. 19, 2026 | Daily |
| PTIN · Pacer Funds Trust | 0.29% | 7,980 NS | July 31, 2026 | N-PORT |
| BKIE · BNY Mellon ETF Trust | 0.27% | 52,621 NS | July 31, 2026 | N-PORT |
| IDEV · iShares Trust | 0.22% | 1,145,793 SH | Sept. 11, 2026 | Daily |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.21% | 10,183,584 SH | Aug. 19, 2026 | Daily |
| DFAI · Dimensional ETF Trust | 0.17% | 448,515 NS | July 31, 2026 | N-PORT |
| ACWX · iShares Trust | 0.17% | 346,360 SH | Sept. 11, 2026 | Daily |
| FTLS · First Trust Exchange-Traded Fund III | 0.17% | 63,250 NS | July 31, 2026 | N-PORT |
| VEU · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.17% | 2,437,757 SH | Aug. 19, 2026 | Daily |
| PXF · Invesco Exchange-Traded Fund Trust … | 0.17% | 82,563 SH | Oct. 2, 2026 | Daily |
| GLBL · Pacer Funds Trust | 0.16% | 27 NS | July 31, 2026 | N-PORT |
| DFIC · Dimensional ETF Trust | 0.15% | 339,806 NS | July 31, 2026 | N-PORT |
| VXUS · VANGUARD STAR FUNDS | 0.15% | 37,430,351 SH | Aug. 19, 2026 | Daily |
| IXUS · iShares Trust | 0.15% | 1,452,673 SH | Sept. 11, 2026 | Daily |
| CRBN · iShares Trust | 0.14% | 25,540 SH | Sept. 11, 2026 | Daily |
| TLTD · FlexShares Trust | 0.13% | 12,639 NS | July 31, 2026 | N-PORT |
| ESUM · Strategy Shares | 0.13% | 3,425 NS | July 31, 2026 | N-PORT |
| EEMO · Invesco Exchange-Traded Fund Trust … | 0.12% | 640 SH | Oct. 2, 2026 | Daily |
| QLVD · FlexShares Trust | 0.10% | 832 NS | July 31, 2026 | N-PORT |
| JFLI · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 702 NS | July 31, 2026 | N-PORT |
| IMFL · Invesco Exchange-Traded Self-Indexe… | 0.09% | 16,418 SH | Oct. 2, 2026 | Daily |
| DFAX · Dimensional ETF Trust | 0.09% | 159,890 NS | July 31, 2026 | N-PORT |
| VOXP · Advisors Series Trust | 0.07% | 63 NS | July 31, 2026 | N-PORT |
| TOK · iShares Trust | 0.07% | 2,781 SH | Sept. 11, 2026 | Daily |
| ESGG · FlexShares Trust | 0.07% | 1,178 NS | July 31, 2026 | N-PORT |
| URTH · iShares, Inc. | 0.07% | 93,597 SH | Sept. 11, 2026 | Daily |
| ACWI · iShares Trust | 0.06% | 323,112 SH | Sept. 11, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.06% | 1,577,288 SH | Aug. 19, 2026 | Daily |
| FEDM · FlexShares Trust | 0.03% | 392 NS | July 31, 2026 | N-PORT |
| VWO · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 20,449,815 SH | Aug. 19, 2026 | Daily |
| VSS · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 5,326,197 SH | Aug. 19, 2026 | Daily |
| VSGX · VANGUARD WORLD FUND | 0.00% | 288,500 SH | Aug. 19, 2026 | Daily |
| IFRA · iShares Trust | · | 1,221,231 SH | Sept. 11, 2026 | Daily |
TRP Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 26 analysts
BUY
Median target
$68.00
+15.1%
3 11.5%
Strong Buy
12 46.2%
Buy
10 38.5%
Hold
1 3.8%
Sell
0 0.0%
Strong Sell
12-Month Price Target
3 analysts · 2026-09-30Mean target $65.79 +11.4%
Now
Current price $59.07
Low$57.73
Mean$65.79
High$71.65
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Source: SEC 40-F filed Feb 13, 2026