Tc Energy (TNCAF) Operating Margin (2009 - 2025)

Tc Energy (TNCAF) posted Operating Margin of 62.64% for Q4 2025, up 1.68% on a QoQ basis from 61.61% in Q3 2025.

Analysis

Tc Energy (TNCAF) Operating Margin (2009 - 2025) Analysis & Trends

Tc Energy has reported Operating Margin for 5 years, with the latest figure at 62.64% in Q4 2025.

On a quarterly basis, Operating Margin changed N/A year-over-year to 62.64% in Q4 2025; TTM through Dec 2025 was 62.43%, a N/A change from a year earlier, with the FY2025 full-year figure at 6.92%, down 3352.0% from the prior year.
Operating Margin was 62.64% for Q4 2025 at Tc Energy, up from 61.61% in the prior quarter.
The five-year high for Operating Margin was 64.39% in Q1 2025, with the low at 61.19% in Q2 2025.

Peer Set

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Operating Margin (Qtr)
1	Kinder Morgan	112.43 Bn	112.31 Bn	3.07 Bn	30.06%
2	Enterprise Products Partners	84.88 Bn	83.97 Bn	-	12.31%
3	Energy Transfer	74.51 Bn	73.47 Bn	7.40 Bn	10.41%
4	Targa Resources	62.67 Bn	62.54 Bn	2.14 Bn	27.80%
5	Mplx	60.89 Bn	59.86 Bn	2.73 Bn	41.61%
6	Oneok	60.50 Bn	60.34 Bn	2.81 Bn	13.22%
7	Enbridge	55.26 Bn	55.75 Bn	5.23 Bn	9.93%
8	Gas Transporter Of The South	22.56 Bn	-3,018.49 Bn	-	-
9	Plains All American Pipeline	18.20 Bn	17.14 Bn	1.14 Bn	2.25%
10	Tc Energy	16.13 Bn	15.60 Bn	1.80 Bn	-

Historic Data

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