Tc Energy (TCNCF) EBT Margin (2009 - 2025)
Tc Energy (TCNCF) posted EBT Margin of 34.17% for Q4 2025, up 4.33% on a QoQ basis from 32.75% in Q3 2025, and down 7635.0% year-on-year from 0.45% in Q4 2024.
Tc Energy (TCNCF) EBT Margin (2009 - 2025) Analysis & Trends
Tc Energy has disclosed EBT Margin across 17 years of filings, most recently posting 34.17% for Q4 2025.
- EBT Margin for Q4 2025 came in at 34.17%, down 7635.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 35.68% (down 702.0% YoY), and the FY2025 annual result was 35.72%, down 716.0% from the prior year.
- EBT Margin came in at 34.17% for Q4 2025 at Tc Energy, up from 32.75% in the prior quarter.
- Over the last five years, EBT Margin for TCNCF reached as high as 110.51% in Q4 2024 and fell as low as 41.11% in Q1 2021.
- Median EBT Margin over the past 5 years was 33.61% (2024), compared with a mean of 29.65%.
- Year-over-year, EBT Margin soared 7300 bps in 2024 and sank 7635 bps in 2025.
- Over 5 years, EBT Margin stood at 40.07% in 2021, then slumped by 188 bps to 35.14% in 2022, then jumped by 207 bps to 37.51% in 2023, then soared by 195 bps to 110.51% in 2024, then tumbled by 69 bps to 34.17% in 2025.
- Per Business Quant, the three latest TCNCF EBT Margin figures stand at 34.17% (Q4 2025), 32.75% (Q3 2025), and 35.76% (Q2 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 10.58% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 26.68% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 10.55% |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 7.60% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 14.93% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 30.38% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 10.62% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 5.08% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 16.00% |
| 10 | Tc Energy | - | - | 2.95 Bn | 34.17% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 34.17% |
| Sep 30, 2025 | 32.75% |
| Jun 30, 2025 | 35.76% |
| Mar 31, 2025 | 40.52% |
| Jun 30, 2024 | 27.86% |
| Dec 31, 2023 | 37.51% |
| Sep 30, 2023 | -0.99% |
| Jun 30, 2023 | 14.02% |
| Mar 31, 2023 | 42.97% |
| Dec 31, 2022 | -35.14% |
| Mar 31, 2022 | 20.66% |
| Dec 31, 2021 | 40.07% |
| Sep 30, 2021 | 29.41% |
| Jun 30, 2021 | 36.68% |
| Mar 31, 2021 | -41.11% |
| Dec 31, 2020 | 40.89% |
| Dec 31, 2019 | 38.37% |
| Sep 30, 2019 | 35.53% |
| Jun 30, 2019 | 42.70% |
| Mar 31, 2019 | 39.63% |