Tc Energy (TRP) Net Margin (2009 - 2025)

Tc Energy's Net Margin history runs 17 years deep, the most recent figure standing at 0.05% for Q4 2025.

• On a quarterly basis, Net Margin fell 1.0% year-over-year to 0.05% in Q4 2025; TTM through Dec 2025 was 0.05%, a 2.0% decrease from a year earlier, with the FY2025 full-year figure at 0.05%, down 2.0% from the prior year.
• Net Margin declined to 0.05% in Q4 2025 per TRP's latest filing, from 0.05% in the prior quarter.
• Across five years, Net Margin topped out at 80.85% in Q2 2021 and bottomed at 78.24% in Q1 2021.
• The 5-year median for Net Margin is 0.07% (2024), against an average of 16.1%.
• Across the five-year window, Net Margin plunged 16296 bps in 2021 and jumped 10295 bps in 2022, its largest moves.
• Year by year, Net Margin stood at 31.19% in 2021, then tumbled by 215 bps to 35.81% in 2022, then surged by 196 bps to 34.54% in 2023, then slumped by 100 bps to 0.06% in 2024, then retreated by 22 bps to 0.05% in 2025.
• Per Business Quant, the three latest TRP Net Margin figures stand at 0.05% (Q4 2025), 0.05% (Q3 2025), and 0.05% (Q2 2025).