Tc Energy (TCNCF) Cost of Revenue (2009 - 2025)

Tc Energy's Cost of Revenue history runs 15 years deep, the most recent figure standing at $39.4 million for Q4 2025.

• In Q4 2025, Cost of Revenue fell 32.81% year-over-year to $39.4 million; the TTM figure through Dec 2025 stood at $148.9 million (down 5.77% YoY), while the FY2025 annual figure was $149.2 million, down 5.89% from the prior year.
• Cost of Revenue was $39.4 million for Q4 2025 at Tc Energy, up from $39.2 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $135.7 million in Q2 2022 to a low of $27.9 million in Q4 2023.
• Historically, Cost of Revenue has averaged $64.0 million across 4 years, with a median of $49.1 million in 2024.
• Biggest YoY gain for Cost of Revenue was 110.3% in 2024; the steepest drop was 74.05% in 2024.
• A 4-year view of Cost of Revenue shows it stood at $77.4 million in 2022, then sank by 63.92% to $27.9 million in 2023, then soared by 110.3% to $58.7 million in 2024, then plunged by 32.81% to $39.4 million in 2025.
• The last three Cost of Revenue figures came in at $39.4 million (Q4 2025), $39.2 million (Q3 2025), and $35.4 million (Q2 2025), per Business Quant data.