Tc Energy (TCENF) FCF Margin (2009 - 2025)
Tc Energy (TCENF) recorded quarterly FCF Margin of 13.15% in Q4 2025, down 84.66% quarter-over-quarter from 85.72% in Q3 2025, and down 26068.0% on a YoY basis from N/an in Q4 2024.
Tc Energy (TCENF) FCF Margin (2009 - 2025) Analysis & Trends
Tc Energy's FCF Margin history runs 17 years deep, the most recent figure standing at 13.15% for Q4 2025.
- In Q4 2025, FCF Margin fell 26068.0% year-over-year to 13.15%; the TTM figure through Dec 2025 stood at 50.45% (down 5081.0% YoY), while the FY2025 annual figure was 82.79%, down 1890.0% from the prior year.
- FCF Margin was 13.15% for Q4 2025 at Tc Energy, down from 85.72% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 273.82% in Q4 2024 to a low of 13.15% in Q4 2025.
- Historically, FCF Margin has averaged 91.32% across 5 years, with a median of 91.86% in 2022.
- The sharpest annual moves came in 2024 and 2025: FCF Margin jumped 18124 bps in 2024, then sank 26068 bps in 2025.
- A 5-year view of FCF Margin shows it stood at 95.42% in 2021, then gained by 6 bps to 101.34% in 2022, then retreated by 9 bps to 92.59% in 2023, then surged by 196 bps to 273.82% in 2024, then slumped by 95 bps to 13.15% in 2025.
- The last three FCF Margin figures came in at 13.15% (Q4 2025), 85.72% (Q3 2025), and 28.42% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 88.33 Bn | 89.03 Bn | 6.70 Bn | -0.43% |
| 2 | Enterprise Products Partners | 80.83 Bn | 79.68 Bn | - | 3.38% |
| 3 | Kinder Morgan | 69.66 Bn | 70.75 Bn | 3.08 Bn | 28.13% |
| 4 | Energy Transfer | 65.60 Bn | 64.88 Bn | 6.62 Bn | 5.26% |
| 5 | Scorpio Tankers | 59.17 Bn | 58.19 Bn | - | - |
| 6 | Mplx | 57.43 Bn | 55.92 Bn | 2.54 Bn | 25.41% |
| 7 | Targa Resources | 56.68 Bn | 56.71 Bn | 1.70 Bn | -3.91% |
| 8 | Oneok | 55.34 Bn | 55.21 Bn | 2.57 Bn | 0.73% |
| 9 | Tc Energy | 50.79 Bn | 51.99 Bn | 2.95 Bn | 13.15% |
| 10 | Tc Energy | - | - | 2.95 Bn | 13.15% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 13.15% |
| Sep 30, 2025 | 85.72% |
| Jun 30, 2025 | 28.42% |
| Mar 31, 2025 | 80.57% |
| Dec 31, 2024 | 273.82% |
| Sep 30, 2024 | 89.91% |
| Jun 30, 2024 | 73.15% |
| Mar 31, 2024 | 85.34% |
| Dec 31, 2023 | 92.59% |
| Dec 31, 2022 | 101.34% |
| Sep 30, 2022 | 93.13% |
| Jun 30, 2022 | 60.63% |
| Mar 31, 2022 | 91.86% |
| Dec 31, 2021 | 95.42% |
| Sep 30, 2021 | 97.47% |
| Jun 30, 2021 | 91.92% |
| Mar 31, 2021 | 97.93% |
| Dec 31, 2020 | 118.38% |
| Dec 31, 2019 | 111.56% |
| Sep 30, 2019 | 108.62% |