Tc Energy TNCAF
NYSE TNCAF
$15.70 +0.00 (+0.00%)
At close: Sep 8, 2026 · 4:00 PM EDT

Tc Energy (TNCAF) Gross Margin (2024 - 2026)

Tc Energy (TNCAF) posted Gross Margin of 62.88% for Q2 2026, little changed on a QoQ basis from 62.69% in Q4 2025, and up 158.0% year-over-year from 24.37% in Q2 2025.

Analysis

Tc Energy (TNCAF) Gross Margin (2024 - 2026) Analysis & Trends

Tc Energy has reported Gross Margin for 3 years, with the latest figure at 62.88% in Q2 2026.

  • On a quarterly basis, Gross Margin rose 158.0% year-over-year to 62.88% in Q2 2026; TTM through Jun 2026 was 62.16%, a 420.0% increase from a year earlier, with the FY2025 full-year figure at 62.54%, down 3588.0% from the prior year.
  • Gross Margin was 62.88% for Q2 2026 at Tc Energy, roughly flat from 62.69% in the prior quarter.
  • The five-year high for Gross Margin was 64.56% in Q1 2025, with the low at 58.34% in Q4 2024.
  • Average Gross Margin over 3 years is 61.91%, with a median of 62.18% recorded in 2025.
  • The sharpest annual moves came in 2025 and 2026: Gross Margin jumped 435 bps in 2025, then jumped 158 bps in 2026.
  • Over 3 years, Gross Margin stood at 58.34% in 2024, then advanced by 7 bps to 62.69% in 2025, then grew by 0 bps to 62.88% in 2026.
  • The last three Gross Margin figures came in at 62.88% (Q2 2026), 62.69% (Q4 2025), and 61.66% (Q3 2025), per Business Quant data.
Peer Set

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Gross Margin (Qtr)
1 Kinder Morgan 112.43 Bn 112.31 Bn 3.07 Bn 68.62%
2 Enterprise Products Partners 85.02 Bn 84.11 Bn - -
3 Energy Transfer 74.51 Bn 73.47 Bn 7.40 Bn 21.55%
4 Targa Resources 62.54 Bn 62.41 Bn 2.14 Bn 48.15%
5 Mplx 60.94 Bn 59.91 Bn 2.73 Bn 82.28%
6 Oneok 60.43 Bn 60.27 Bn 2.81 Bn 23.30%
7 Enbridge 55.26 Bn 55.75 Bn 5.23 Bn 24.69%
8 Gas Transporter Of The South 22.53 Bn -3,018.52 Bn - -
9 Plains All American Pipeline 18.19 Bn 17.13 Bn 1.14 Bn 6.43%
10 Tc Energy 16.13 Bn 15.60 Bn 1.80 Bn 62.88%
Historic Data

Historic Data

Download Data
DateValue
Jun 30, 2026 62.88%
Dec 31, 2025 62.69%
Sep 30, 2025 61.66%
Jun 30, 2025 61.30%
Mar 31, 2025 64.56%
Dec 31, 2024 58.34%