Is the business good?
How good a business is TRP?
TC Energy Corporation earns 8.3% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
8.3%
Return on invested capital · cost of capital 9.0% · 0.73 points below what the capital costs: growth destroys value
- Operating margin
- 53%
Operating margin · Oil & Gas Midstream median 36% · fiscal year to FY2025
- Share count, year on year
- +0.19%
Share count, year on year · flat: no meaningful dilution
- Gross margin
- 99%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 52% |
| FY2021 | 30% |
| FY2022 | 20% |
| FY2023 | 38% |
| FY2024 | 58% |
| FY2025 | 53% |
Details›
- Gross marginfiscal year to FY2025
- 99%
- Operating marginfiscal year to FY2025
- 53%
- Net marginfiscal year to FY2025
- 23%
- Revenue, trailing twelve months
- $15.2B
- Net income, trailing twelve months
- $3.52B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 8.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Oil & Gas Midstream
Ranks #15 of 27 by Smart Score